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Central Bank summoned before COPF over pay hike

28 Feb 2024 - {{hitsCtrl.values.hits}}      

By Ajith Siriwardana  

The Committee on Public Finance has summoned the Governing Board of the Central Bank before the Committee on Public Finance next week, its Chairman Dr. Harsha De Silva said. Taking to X, he said MPs could seek clarification on the recent staff pay hike and for any necessary action.  

“The CBSL independence is subject to accountability to the Legislature per Section 80 (2) (a) of the CBSL Act,” he added.  

After heavy criticism on the recent salary hike by members of Parliament, the CBSL in a clarification said that the latest revision of remuneration of the CBSL employees were approved by the Governing Board under the triennial Collective Agreement entered into with the Trade Unions covering the period 2024- 2026.   

The CBSL also said they had sought an opportunity to apprise the Members of the Parliament through an appropriate parliamentary committee of the process and rationale pertaining to the recent revision of remuneration of CBSL staff and that the CBSL will explain its position upon being offered the requested opportunity.