COPF recommends postponement of Central Bank salary increase

By Saman Indrajith

The Committee on Public Finance (COPF) yesterday recommended in its report that the Central Bank put off the salary increases for its employees.

COPF Chairman Dr. Harsha De Silva said that although the CBSL had powers to determine salary increments, it was answerable to Parliament. The country was passing through an economic crisis and CBSL increasing their salaries at this time, had led to a public outcry. “COPF considers this increment unfair. The increments were not transparent. This increment cannot be justified.”

Dr. De Silva said that a committee should be appointed by the Finance Minister with the concurrence of the CBSL Governor to look into the salary hike of the Central Bank employees and to suspend the salary revision until the committee report was submitted.

Dr. de Silva said the report of the committee should be submitted within four weeks.