State Minister of Finance Ranjith Siyambalapitiya

• Says move targeted at positions facing scarcity of replacements, to retain qualified personnel
• Insists necessity of competitive salaries to prevent talent drain from Central Bank
• Confirms eligible employees receive similar salary increments every three years as per collective agreement
• Assures funding for salary hikes would be sourced within Central Bank

State Minister of Finance Ranjith Siyambalapitiya yesterday clarified that the recent salary hikes for employees of the Central Bank were awarded to specific positions where replacements were scarce thereby retain qualified individuals. Responding to inquiries from the Opposition regarding recent salary hikes for employees of the Central Bank he highlighted that around 99 employees, constituting around 10% of the Central Bank workforce, had travelled abroad between 2022 and 2023.

The State Minister justified the move noting the importance of maintaining competitive salaries to prevent talent drain from the institution.

Siyambalapitiya affirmed that employees meeting certain criteria would receive similar salary increments every three years, under the collective agreement. 

He assured that funds for these adjustments would be drawn from the Central Bank’s account, ensuring transparency and accountability in the process.

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