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Tuesday, April 16, 2024

Sri Lanka CBSL 29% to 89%, salary hike is just the tip of the iceberg

(@Numbers.lk.) CBSL have more than 1200 employees and they have received salary hikes ranging from 29% to 89%, costing Rs 232 million monthly. The salary is just the tip of the iceberg.

The real difference between CBSL & the other SMEs and government services comes from the other benefits. CBSL employees enjoy an insurance package a C-level executive of a top private firm in SL would be jealous of.

Loans exceeding 10 million with a concessionary 2%-4% rate financed by the CBSL are very common among the employees.

They enjoy various other incentives, bonuses, coverage of course fees, and even transport to and from their homes to CBSL is provided for.

The justification for this, which comes from the CBSL Governor, is that they haven’t used public finances to fund these projects, narrowly defining only the money from the consolidated fund (i.e., the government’s tax money account) as public finance.

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