In a startling revelation today (20), it came to light in Parliament that officials at the Central Bank have significantly increased their salaries by exploiting a misinterpretation of the law, drawing sharp criticism and calls for accountability from lawmakers.
According to MP Lakshman Kiriella, chief organizer of the opposition, discrepancies between the English and Sinhala clauses of the relevant Act have been exploited to inflate salaries. Kiriella emphasized that these salary hikes, based on the Sinhala interpretation of the Act, were deemed acceptable in court, despite their dubious legality.
Highlighting the issue, Kiriella pointed out that while the Central Bank Deputy Governor’s salary saw a staggering increase from 7 lakhs to 16 lakhs, such decisions should not bypass parliamentary oversight. He underscored the necessity for parliamentary approval, citing the similar process for determining the salaries of Supreme Court judges.
In response to these allegations, Minister of State for Finance, Ranjith Siyambalapitiya, defended the salary increments, arguing that competitive salaries are essential to retain top talent, especially in the field of economics. He justified the salary adjustments as necessary to prevent brain drain, noting that a significant number of Central Bank employees had left the country in recent years.
However, Kiriella remained steadfast in his criticism, questioning the justification for such exorbitant salary increases, particularly in light of the alleged mishandling of the country’s financial affairs by Central Bank officials. He accused them of concealing the country’s bankruptcy for three years and called for accountability for their actions.
The opposition organizer lambasted the officials, asserting that their actions amounted to a betrayal of parliamentary authority. He urged for a thorough investigation into the matter, emphasizing the need to consult the Attorney General to address the legality of the salary hikes.
In response, the state finance minister assured Parliament that the concerns raised would be duly considered, hinting at a potential review of the salary adjustments. However, the controversy surrounding the alleged misuse of power by Central Bank officials continues to reverberate, raising questions about accountability and transparency within the institution.
