BOC union to oppose privatisation

Monday, 4 December 2023 01:16 - - {{hitsCtrl.values.hits}}

Bank of Ceylon Employees Union General Secretary Ranjan Senanayake yesterday said the union and its members will oppose any move by the Government to privatise state banking institutions.

Speaking at the National conference of the Bank of Ceylon Employees Union in Colombo, Senanayake emphasised that the union is steadfast in its stance against the Government’s privatisation efforts concerning state banking organisations. “The union will not tolerate any attempts to sell off state banks,” he said.

Bank of Ceylon Employees Union Chairman Channa Dissanayake echoed the sentiments expressed by Senanayake. He emphasised that privatisation would adversely affect the interests of both bank employees and the general public. Dissanayake stressed the crucial role that state banks play in the National economy, asserting that they should continue to remain under Government ownership.

Accordingly, the Bank of Ceylon Employees’ Union has announced its intention to organise provincial protest rallies advocating for the cancellation of plans associated with the sale of state bank shares.

Senanayake highlighted that this series of protests will take place at the provincial level, revolving around various slogans such as opposing the sale of state-owned banks, advocating against the prohibition of collective agreements, and addressing concerns about unfair taxation.

The Bank of Ceylon Employees Union has maintained that the Government is planning to sell 20% of the shares of the Bank of Ceylon and People’s Bank, both considered economic powerhouses of the country, to private businessmen with links to the Government.

The union contends that this plan is being executed under the guise of a strategic investment, and these proposals have been included in this year’s budget proposal.