Payments to employees of CEB and CEYPETCO No bonus from the public purse

• CEB and CEYPETCO, the biggest loss making SOEs pay annual bonus and huge salary increases to their employees
• All parliamentary oversight committees must have a thorough analysis of  the salary structure, payment of annual bonus and constant salary hikes  etc. of the CEB and CEYPETCO

By Sandun A. Jayasekera

The parliamentary oversight committees must seriously considered the rationale of paying annual bonus and steady increase of salaries to loss making State Owned Enterprises (SOE), Chairman of the Committee on Public Finance (CPF), parliamentarian and former Minister Anura Priyadharshana Yapa said yesterday.   

The CEB and CEYPETCO, the biggest loss making SOEs pay annual bonus and offer huge salary increases to their employees, notwithstanding the huge losses incurred by the two. The employees of the CEB and CEYPETCO give a 25% salary increase in every three years in accordance to a collective agreement.   “The employees of the two major SOEs are the biggest salary earners of the country. But the CEB has recently paid a massive Rs. 3,679 million to its staff by using various ruses. The CEB employees numbering 28,000 demanded a 36% salary increment and are to get a 25% pay rise at a cost of Rs. 9 billion.   
The lowest paid employee of the CEB draws a monthly salary of over Rs. 80,000. Average monthly salary of a meter reader is about Rs. 120,000. The GM’s monthly salary is Rs. 655,310 and Engineers of grade I, 2,3 and 4 take home a monthly salary of Rs. 533,895, Rs. 363,910, Rs. 284,140 and Rs. 237,185 respectively. These are in addition to all other payments paid for site inspection, outdoor duties, over time, fuel advance, telephone bill reimbursement, bonus and gratuities.   The daily loss to the CEYPETCO is Rs. 551 million but it pays three annual bonuses at Rs. 1,500 million each to 5,200 employees. The annual overtime payments alone stood at Rs. 250 – 300 million. The CEYPETCO is indebted to the tune of Rs. 750 billion to banks.   

Chairman of the CPF, Mr. Yapa told Daily Mirror that all parliamentary oversight committees must have a thorough analysis of the salary structure, payment of annual bonus and constant salary hikes etc. of the CEB and CEYPETCO as these major establishments are a huge liability to the government, the public and the Treasury.