Central Bank asked to provide report within one week

24 February 2024 07:27 am Views - 3997

Colombo, Feb 24 (Daily Mirror) - Amidst criticism over the exorbitant salary hike of the Central Bank employees, a top parliamentary committee has called for a report from the Central Bank on the legal provisions for such a salary increment without parliamentary approval.

Chairman of the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis MP Gamini Waleboda said the matter regarding the salary hike was raised during the committee meeting on Thursday when the Central Bank officials were present.

He said the Central Bank is expected to submit the report on the salary increment next week and after that, the Central Bank and its Monetary Board would be summoned before the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis.

He said the committee raised heavy criticism about the 70 per cent salary increase of the Central Bank employees amidst the economic crisis, and called it an immoral act.

“We instructed the Central Bank to provide a report by next week to justify the salary increase. They will need to provide the legal provisions that empower them to effect such an increment.

We will summon the Central Bank and its Monetary Board after receiving the report,’ he said.

Both government and opposition MPS in Parliament this week raised criticism over the Central Bank’s moves to increase their salary scales by 70 per cent. Chief Opposition Whip Lakshman Kiriella said the Central Bank Act had no provision to increase the salary of Central Bank employees without parliamentary approval and that it was illegal.