Civil rights activists protest outside CBSL over salary hike

Tuesday, 12 March 2024 01:17 - - {{hitsCtrl.values.hits}}

A group of civil rights activists yesterday staged a protest in front of the Central Bank against latter’s sharp salary increments which has come under much criticism.

“We have gathered here at another State within the country — the Central Bank. It operates autonomously, seemingly unchecked,” Magen Ratata Chairman Sanjaya Mahawatte, asserted.

Accusing CBSL Governor Dr. Nandalal Weerasinghe of undue influence, Mahawatte claimed that there are alarming discrepancies in the bank’s operations.

“Recently, a bundle of cash went missing, however, when the investigations were conducted by the Fort Police the Governor did not know how much was missing from the stack of money printed at that time. This shows his lack of oversight,” Mahawatte charged.

He also alleged Dr. Weerasinghe of implementing policies that disproportionately affect private sector workers, by reducing the EPF rate to 9%, while exempting CBSL employees from such measures.

Last week, Prime Mini-ster Dinesh Gunawardena revealed that the gross salary of the lowest-ranking employee at the Central Bank, an Office Assistant - Grade 1, has spiked by 29.53% to reach Rs. 188,827, while the gross salary of the Deputy Governor increased by 76.97% to Rs. 1,728,419.

He criticised the disparity in interest rates stating that the Central Bank employees benefit from a mere 1% interest rate, whilst the rate applicable for the rest of the citizens is as high as 29%.