Central Bank of Sri Lanka Clarifies Employee Salary Revision

The Central Bank of Sri Lanka (CBSL) has issued a statement in response to Parliament members on the recent adjustment of CBSL employee salaries.

During a Governing Board session on February 21, 2024, it was decided that the CBSL Governor would officially seek a chance to present to Parliament members via a suitable committee.

This action, in line with Section 80 (2) (b) of the Central Bank of Sri Lanka Act No. 16 of 2023, is intended to shed light on the methods and reasoning for the latest salary changes, authorized through the three-year Collective Agreement with Trade Unions for 2024-2026.

The CBSL Governor forwarded a formal request to the President, who is also the Minister of Finance and CBSL’s liaison with Parliament, on February 22, 2024, to brief Parliament members on the adjustment in CBSL staff pay.

CBSL also expressed its readiness to offer detailed explanations and insights into how the salary revision decision was made, either through the sought-after presentation or in response to an official inquiry for information.