Connect with us

News

CBSL denies 70% pay hike

Published

on

… seeks opportunity to tell Parliament its side of story

 No salary increases for Central Bank workers until 2027

Trade unions, etc., agreed to pay hikes

by Shamindra Ferdinando

The Governing Board of the Central Bank of Sri Lanka (CBSL), embroiled in an ongoing controversy over recent salary hikes granted to its employees, has sought an opportunity to explain to Parliament what a senior official called the rationale behind the pay hike.

Authoritative CBSL sources told The Island that the request had been made through the Finance Ministry to Parliament seeking an early meeting with the relevant committees.

The Governing Board consists of Dr. P Nandalal Weerasinghe (Chairman), A N Fonseka, Dr. Ravi Ratnayake, Anushka S Wijesinha, Vish Govindasamy, Rajeev Amarasuriya and Manil Jayesinghe.

Responding to queries, sources denied accusations that the CBSL employees had been granted over 70 percent salary increase with effect from January this year. When The Island pointed out that several lawmakers had openly accused the CBSL of doing so and State Finance Minister Ranjith Siyambalapitiya declaring that the government couldn’t intervene due to the enactment of new CBSL Act, sources said that the Parliament could address the issues at hand by giving the CBSL an opportunity to give its side of the story.

Sources said that following the latest salary revision, the monthly salary bill increased by 50 percent. However, those who had been attacking the CBSL, over the salary increase, had conveniently forgotten 24 percent of that amount had been deducted and sent directly to the Inland Revenue Department as PAYE (Pay As you Earn) tax.

Sources pointed out that CBSL staff would not be entitled to salary increase until 2027 whereas the government usually granted pay hikes to workers in the state sector.

Sources denied claims that the latest salary increase has been granted under the new CBSL law. Referring to the relevant legal provision in the law, sources said: “The CBSL followed the same procedure it has been following during the last few decades. This has nothing to do with the new CBSL law. These provisions were there even in the previous law.”

Sources said that those who had received higher salaries paid taxes amounting to 36% to the government, and the latest salary increase had been determined, following consultations between the top management and recognized trade unions of the CBSL. According to sources, the management and trade unions commenced signing of three-year collective agreements, beginning in 2000. The latest agreement covers the 2024-2026 period.

Sources said that instead of asking the CBSL for an explanation, a section of the media had gone on the offensive on the basis of unsubstantiated claims and accusations. “They politicized the issue and sought to direct public anger at the bank at a time it was working overtime to bring about economic recovery,” a senior CBSL official said.



News

Royal Navy of Oman Vessel “SADH” departs island

Published

on

By

The Royal Navy of Oman Vessel “SADH” which arrived in Sri Lanka for replenishment purpose, departed the island on 12 Feb 26.

In accordance with naval tradition, the Sri Lanka Navy extended a customary farewell to the departing ship.

Continue Reading

Latest News

“We will not make decisions for rural level schools while sitting in Colombo” – PM

Published

on

By

The Minister of Education, Higher Education and Vocational Education Prime Minister Dr. Harini Amarasuriya stated that aligning with the development activities carried out under the new education reforms, decisions at the rural level will not be taken from Colombo and plans should be sent based on the requirements of the rural level through the District Coordination Committees by structural committees. She further noted that all officials, from the Ministry of Education down to the school level, must commit to working efficiently and with a human-centered approach.

The Prime Minister made these remarks while addressing a discussion held with education authorities of the Hambantota District on Thursday [February 12]  at the auditorium of the Hambantota District Secretariat regarding the new education reforms and prevailing issues in the education sector.

During the meeting, the Prime Minister provided an opportunity for education authorities including chief prelates of pirivenas, zonal education directors, teacher advisors, and principals to present the challenges they face and officials raised concerns including salary disparities among principals, developing school infrastructure, issues arising from the division between national and provincial schools, and uplifting  pirivena education.

Further elaborating, Prime Minister stated:

“The new education reforms were initiated from 2025 through dialogue, consultations, and the collection of necessary data. As officials, you have extended your support to us during this process. We have embarked on a difficult and long journey, and we look forward to your continued cooperation.

We initiated these reforms in response to a strong social demand. Many have attempted such reforms at different times. Within our political vision, we understood clearly that if this country is to be rebuilt, an educational transformation is essential. The human resource is the most valuable resource of this country and it should be nurtured properly.

Solutions to many of the crises our country faces lie within the education system. Addressing the issues in economic challenges, social issues, drug abuse, violence, the breakdown of political culture, corruption, waste, and even the deterioration of human relationships all lie within the education.

In order to achieve the transformation we envision as a government, that an education transformation is necessary.

This education system should focus on reducing the pressures within the system, minimize school dropouts, increase employability, and instill confidence in children about their future.

There are disparities within the school system, between rural and urban schools, national and provincial schools, and difficult schools. This should not happen. All children must have equal opportunities.

Decisions regarding the establishment of schools or expansion of classes should not be political decisions. They must be decisions taken through Structural Committees. Those representatives understand their divisions, village economies, and population dynamics. Based on your decisions and assessments of needs, prepare the plans, discuss them with the District Coordination Committees, and submit them to us. We will then take steps to provide the necessary allocations and other support. We will not make decisions for the rural level while sitting in Colombo.

We are taking steps to minimize salary disparities. A Cabinet paper regarding the salary anomalies of principals has already been prepared for submission. Steps are also being taken to introduce new reforms in pirivena education through the Pirivena Committee of the Ministry of Education. We require the support of the chief prelates in this regard.

A significant number of teachers turn to human rights due to delays caused by inefficiency. Therefore, all officials from the Ministry of Education down to the schools must commit to working efficiently and in a humane manner”

The discussion was attended by Chief prelates of pirivenas, deputy ministers, Members of Parliament, zonal directors, principals, and other education sector officials.

[Prime Minister’s Media Division]

Continue Reading

Latest News

Landslide Early Warnings issued to the Districts of Kandy and Nuwara Eliya

Published

on

By

The Landslide Early Warning Center of the National Building Research Organisation [NBRO] has issued landslide early warnings to the districts of Kandy and Nuwara Eliya valid  from 06:00 hrs on 13.02.2026 to 06:00 hrs on 14.02.2026

Accordingly,
Level II [AMBER] landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Walapane and Nildandahinna in the Nuwara Eliya district.

Level I [YELLOW] landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Pathahewheta in the Kandy district.

Continue Reading

Trending