Dr. Harsha De Silva, Chairman of the Parliamentary Finance Committee, announced in Parliament on March 20th that following the recent salary revision, third-grade office assistants at the Central Bank of Sri Lanka will receive a gross monthly salary of two hundred and twenty-three thousand seven hundred and sixty-three rupees. The Finance Committee recommended a temporary suspension of this salary increase pending an investigation by an independent committee, with the report due within four weeks.
The Finance Committee emphasized to Parliament that the recent salary hikes at the Central Bank are subject to scrutiny and accountability, stressing the need for a transparent policy and methodology. In light of Sri Lanka’s economic challenges and public hardship, exacerbated by tax and cost of living hikes, the Central Bank’s wage adjustments have ignited public outcry.
The Finance Committee deemed the blanket salary increase for all Central Bank staff unjust in the current economic climate. To address the issue without compromising the Central Bank’s independence, the Committee proposed the prompt establishment of an independent and transparent committee, in consultation with the Central Bank’s Governor, to review the salary adjustments. This recommendation is based on thorough examination of correspondence, particularly the Central Bank’s letter dated March 16th, 2024, regarding the 24th and 26th Salary Revisions.
