President Ranil Wickramasinghe, acting in his capacity as the Minister of Monetary Economic Stabilization and National Policy, has established an independent industry committee tasked with reviewing the proposed salary increase for the Central Bank of Sri Lanka. This move follows recommendations put forth by the Finance Committee of the Government, aimed at addressing the salary revision issue while upholding the independence of the Central Bank.
The committee, titled “Salary Revision of the Central Bank of Sri Lanka 2024-2026,” has been mandated to examine all correspondence exchanged between the Finance Committee of the Government and the Central Bank of Sri Lanka, particularly focusing on a letter dated 16-03-2024. The objective is to devise a reasonable solution to the salary increase matter.
Comprising esteemed members, namely Dinesh Stephen Weerakkody, Arjuna Herath, Dr. Indrajith Kumaraswamy, Sudharma Karunaratne, Anthony Nihal Fonseka, Anushka S. Wijesinghe, and Duminda Hulangamu, the committee is entrusted with the task of ensuring fair adjustments across all staff grades, prioritizing expertise related to the Central Bank of Sri Lanka.
The committee is expected to submit its report to the Finance Committee of the Government within four weeks. In the interim, it is recommended that the Central Bank postpone the implementation of the salary increase until a mutually acceptable solution is reached.
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