News
Over 70% salary hike for CBSL employees: Gevindu demands explanation from FM
… draws attention to discrepancy in beneficial interest rates for EPF members
By Shamindra Ferdinando
Dissident SLPP lawmaker Gevindu Cumaratunga yesterday (18) said that the Wickremesinghe-Rajapaksa government owed an explanation how the Governing Board of the Central Bank had approved a massive salary increase to CBSL employees at a time the country was experiencing developing political-economic-social crisis.
The National List MP said the recent disclosure of over 70 percent salary increase to several different categories of CBSL employees should be brought to the attention of the International Monetary Fund (IMF), bilateral and private creditors as well.The Finance Ministry confirmed the salary increase when The Island raised the issue with a senior official.
President Ranil Wickremesinghe, in his capacity as the Minister in charge of Finance portfolio should explain the circumstances relatively affluent section of public sector workers received an unprecedented salary increase against the backdrop of a large grouping of health sector trade unions resorting to trade union action in a bid to secure Rs 35,000 DAT (Disturbance, Availability and Transport) allowance granted to doctors.
Cumaratunga said: “How could CBSL employees receive over 70 percent salary increase while the Finance Ministry repeatedly declared that health sector workers’ demands couldn’t be granted for want of funds. State Finance Ministers, Ranjith Siyambalapitiya and Shehan Semasinghe, both members of the SLPP should answer public concerns in this regard.”
Responding to another query, Cumaratunga said that he intended to raise the issue at hand in Parliament. “Let us all political parties represented in Parliament, civil society and the media take up this issue vigorously,” he said, claiming that salaries and allowances of a section of top officials had been increased by as much as Rs 600,000.
“This is not fair. Such actions cannot be justified under any circumstances,” the MP said. Referring to the 2024 budget, MP Cumaratunga said that public finance was in such a precarious situation, government servants were granted a salary increase on a staggered basis.
Having suspended debt repayment in April 2022, the country was yet to start paying its debt and there was no consensus with creditors, MP Cumaratunga said. Therefore, the CBSL, faulted along with others for the current crisis by the Supreme Court, couldn’t use the Central Bank of Sri Lanka (CBSL) Act, No. 16 of 2023 to its advantage, MP Cumaratunga added.
In terms of this Act, the Governing Board (GB) of the CBSL is responsible for overseeing the administration and management of the affairs of the CBSL and determination of the general policies of the CBSL.
The leader of the Yuthukama civil society organization pointed out in 2022, the CBSL employees had received a staggering 29.27 percent interest while the other EPF members received just 9 percent. “We took up this issue both in and out of Parliament though the government turned a blind eye to the unfair practice,” MP Cumaratunga said. The civil society activist questioned how CBSL employees received special status when EPF, managed by the Central Bank, were entitled for 9 percent interest, MP Cumaratunga said, alleging that funds amounted to Rs 21 bn that could have used to provide additional assistance were held in a special account while EPF members struggled to make ends meet.
The government had allowed an unprecedented discrepancy in what he called beneficial interest rates received by members of the Central Bank Provident Fund, MP Cumaratunga said. According to him, in terms of the Domestic Debt Optimization (DDO) plan passed on July 01, 2023, the government legitimised the flawed EPF interest payment scheme. The MP said that the ruling SLPP voted for the controversial resolution that was adopted with a majority of 60 votes. The resolution received 122 votes in favour whereas 62 voted against. Forty-one MPs skipped the vote.
Much of the 10-hour debate, on July 1, 2023, centered on how the DDO process impacted on the EPF and ETF (Employees Trust Fund). Unfortunately, Parliament never really wanted to address the issue, a vast majority of EPF members being disadvantaged by the CB-managed EPF. That is the crux of the matter, MP Cumaratunga said.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
