Ceylon Mercantile Union calls for new price index

7 October 2011 02:30 pm - 1 - {{hitsCtrl.values.hits}}

A A A

The Ceylon Mercantile, Industrial and General Workers Union today urged the government to immediately gazette a new Colombo Consumers Price Index as employers have resorted to using ad-hoc methods at determining wage increments in the absence of a fixed price index.

The Union’s General Secretary Bala Tampoe said the Department of Census and Statistics which came under the Finance Ministry was responsible for calculating the index.
“The cost of living index should be gazetted every month. However the Finance Ministry is dodging the matter and is yet to address this problem,” Mr. Tampoe said.

The Colombo Consumers Price Index rose from 100 in 1952 to 7043 in 2009.

“This shows that inflation has risen by more than 70 percent,” he said and added that however the government had stopped making calculations based on the index and instead introduced a new index in 2002.

According to the index introduced in 2002, inflation rose to 213 in December 2009. The government later introduced a third index which was calculated since 2007 according to which inflation was 151 in May 2011.

“Collective agreements for wage increments between unions and employers were based on the index introduced in 1952 and not the two indices that were introduced thereafter. Since the first index was removed in 2009 there has been no proper method of gauging wage increments. This had created chaos and confusion and people now use ad-hoc methods when giving salary increments,” he said.

He said a unanimous decision was made among unions and employers to give a Rs.1,000 salary increment in 2010 and 2011 to make up for the increasing cost of living.

Mr. Tampoe said the National Labour Advisory Council which comprises the Employees Federation, unions and the Ministry of Labour should prepare a new index and do it at the earliest.

“The cost of living has gone up and therefore the goods that people bought with their salary last year is not sufficient this year. As a result wage increments are necessary but we have no means of giving these increments since the ministry had failed to introduce a fixed index,” he said. (Olindhi Jayasundere)

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 1

Calistus Jayatilleke Saturday, 08 October 2011 03:37 AM

But if you ask the statistical experts in the Central Bank they will tell you that prices of goods have remained constant, inflation is down to single digit and the economy is strong etc/ But one can easily find the real and practical truth when one goes to the market to buy the essential needs. The answer does not lie in abolishing the old COL Index and coming up with a new figure.

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Ceylon Mercantile Union calls for new price index

Comments - 1

Add comment

RECOMMENDED

‘Spike in blast fishing’ poses renewed threats to Sri Lanka’s marine ecosystems

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Most Viewed in News

Gota fires back at Cardinal, rebuts allegations

Uma Oya Development Project inaugurated

Man who jumped off Sri Pada Uda Maluwa and went missing, found

Racing event tragedy leaves seven dead including eight-year-old child

Ranil Wickremesinghe caravan moves on despite barking dogs

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

MIRROR CRICKET

Sahan Arachchige to lead Sri Lanka ‘A’

Is Chamari Athapaththu Sri Lanka’s greatest cricketer ever?

Athapaththu back atop ICC Women’s ODI Batting Rankings

Chamari Athapaththu sets big goal for T20 World Cup

TODAY'S HEADLINES

Sri Lanka to establish new energy sector regulator

Cabinet nod to transfer China-built Mattala airport’s management to Indian, Russian joint venture

Sajith never attends dinners hosted by Ranil Wickremesinghe

One soldier dead, nine injured in road crash

Sahan Arachchige to lead Sri Lanka ‘A’

Dates confirmed for 78th Bradby Shield

SLAS appoints independent committee for investigation

Pakistan lose key players for last two T20Is against New Zealand