Central Bank accepts COPF recommendations on pay hike: Harsha

21 March 2024 06:01 pm Views - {{hitsCtrl.values.hits}} 7 Bookmark

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By Yohan Perera and Ajith Siriwardana

Colombo, March 21 (Daily Mirror) - The Central Bank of Sri Lanka (CBSL) has informed COPF today that they accept all recommendations in the COPF report on the salary revisions, Committee chief Harsha De Silva said today.

The COPF requested President Ranil Wickremesinghe to appoint a committee to review the CBSL salaries, until which the salary increases will be deferred for next month.

Comments - 7

This is reality Thursday, 21 March 2024 06:50 PM

Compromise and consensus to the letter. Perfect handling of a very sensitive issue. Credit to both parties for understanding the gravity of the situation and reaching an acceptable and diplomatical decision.

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Mohandev Thursday, 21 March 2024 06:53 PM

Sri Lanka five star demon-crazy in action, let's see after one month who the winners

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Sam Silva Thursday, 21 March 2024 07:33 PM

Yes why not keep on appointing committees after committee and the issue is will be resolved. This is how we solve our problems in our country and be very successful.

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Sharley Friday, 22 March 2024 06:40 AM

We are the public and our point of view, * CB responsible for bankruptcy of the country,in such performance how they are eligible for salary hike up to 70% * according to CB they have it base on incomplete document ,where labour department not signed, as they have done it base on this document, salary increase is illegal *how on earth this governor persuade his officials when he himself preaches to’ tighten your belts’ due to economic poor situation * it should be not postponing as Dr. harsha said, but repeal it,till the economy bring back to the satisfactory level

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Abarala Friday, 22 March 2024 07:03 AM

Treasury will be represented by Secretary to the Treasury and the CB by Governor. Both are employees of the same institute with vested interests

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Shyamal Friday, 22 March 2024 01:32 PM

Any pay hike or benefits should be decided on in the broader context of the country. CBSL does not belong to the private sector. The CBSL makes any profits through their activities because of the statutory rights and monopoly vested in it by the State or the People of this country. So they should all be accountable to the people for all their decisions. I sense something fishy in this new arrangement as the COPF has not commented on the moral and ethical aspects of this pay hike at all. By the way the people should be vigilant on the composition and activities of the proposed committee as this could be an attempt to get it done with a little delay and trivial compromise.

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Saliya Friday, 22 March 2024 01:40 PM

Ideally an independent body should be established to decide on the compensation of the CBSL and other similar bodies. They should not be allowed to set their own compensation as this violates the basic principles of governance especially in countries like Sri Lanka. The most independent body in the country should be the Judiciary. But the pay and benefits of the Judiciary are not determined by the Judiciary itself and there is a proper process for that. Then why is a different process is followed for CBSL? While the new CBSL act has good provisions to ensure functional independence of CBSL, this pay deciding authority is a major weakness in it. An amendment to the act should be brought in this respect to parliament.

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