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Last Updated : 2024-05-09 17:47:00
19 March 2024 01:05 pm - 13 - {{hitsCtrl.values.hits}}
Parliament, March 19 (Daily Mirror)- The Central Bank has no powers to increase the salaries of its employees without the approval of Parliament in terms of the Constitution and the move to increase their salaries is wrong, Justice Minister Wijeyadasa Rajapakshe said today.
He told Parliament that Parliament has powers over Public Finance in terms of the Constitution and that the Central Bank cannot increase the salaries of its employees without Parliamentary approval.
The Minister said the claim by the Central Bank that it has the independence to take decisions in terms of the new Central Bank Act is wrong as any Act must come under the Constitution.
"The Central Bank was granted independence under the new Central Bank Act to ensure that it functions free of political intervention. We expected that the Central Bank would function according to the requirements of the country. Unfortunately, the Central Bank acted to increase its employees' salaries as the first action," he said, while explaining his position during the cross talk over the Central Bank employees' salary increase.
Opposition MP Mohammed Muzammil said no action has been taken regarding the salary increase despite the matter being raised in Parliament for several days.
State Minister of Finance Shehan Semasinghe said the government will take a decision on the Central Bank salary increase after the Committee on Public Finance (COPF) submits its report to Parliament.
Opposition Leader Sajith Premadasa said the government must not wait for the report of the Committee on Public Finance (COPF) and said that the government must take a decision to withdraw the salary hike.
"The Central Bank is not under the COPF, it is under the government," he said.
Joshua Tuesday, 19 March 2024 01:22 PM
Ot can't be true if it said by Wijeyadasa
Bandula Tuesday, 19 March 2024 01:34 PM
If the government must not wait for the report of the Committee on Public Finance (COPF) what is the relevance of COPF. Clearly SP wants to make it a government issue and create even more strife for political mileage.
Nihal S Tuesday, 19 March 2024 02:17 PM
If so any actions by the Government to correct the wrong-doing?
CitizenP Tuesday, 19 March 2024 02:28 PM
If so take action Against the person who carried out this increase.
Sokrates Tuesday, 19 March 2024 02:30 PM
If every law is only valid if it complies with the constitution, how can it be that the Anti-Terror Law and the Online Media Law are valid?
Jaffna man Tuesday, 19 March 2024 02:34 PM
Now time has come to realize the folly about independent institutions with separate powers from the Government system. Many many injustices will crop up in the name of autonomous powers. Be careful
Hypocrisy Tuesday, 19 March 2024 02:52 PM
says the man who took holidays hummer rides knowing jolly well that it was funded by swindled tax payer funds
Gonpala Rajapassa Tuesday, 19 March 2024 03:17 PM
Another Pinek! Lick Mara back, then GoRa back and RW back! All are tastier than ...?
Mahi Tuesday, 19 March 2024 03:44 PM
That was the first thing first CB wanted to do, what a selfish officials and shame to the nation!
Gaya Tuesday, 19 March 2024 03:48 PM
Hon. Minister, how do you interpret section 23(1) of the CBSL Act "23. (1) The Governing Board may appoint and remove employees of the Central Bank, and may determine the terms and conditions of their employment including the remuneration."
Seeya Tuesday, 19 March 2024 04:53 PM
Law was passed by Wijedasa? Must be him as there are loopholes in the laws passed by him.
Jayantha Tuesday, 19 March 2024 05:12 PM
So sack governor and top officials for stealing public money in the form of salary hikes. Then arrest them and give the highest possible punishment. Arrest Nandalal immediately.
Fellow citizen Tuesday, 19 March 2024 05:28 PM
(I)If the parliamentary approval is required for Central Bank’s expenditure does it mean approval by parliament is required for operations that the Central Bank does in maintaining the price stability thereby incurring cost to the P
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