By The Central Bank, which has faced criticism for increasing their salaries without parliamentary approval, now says it wants to face parliament and explain its side of the story. This may be a pre-emptive strategy, as many parliamentarians, including Minister Nimal Siripala de Silva and Chief Opposition Whip Lakshman Kiriella, have called for Governor Nandalal Weerasinghe to be summoned to explain the salary hike.
Now, the Governing Board has made a formal request through President and Finance Minister Ranil Wickremesinghe, expressing their desire for an opportunity to explain the rationale behind the salary increments.
“We want to maintain our accountability and transparency alongside the higher autonomy we got under the new Act,” CBSL Governor Nandalal Weerasinghe said to the media when asked about the request made to parliament.
The CBSL this year implemented significant salary increases ranging from 29.53% (for the most junior office assistants) to 76.97% (for its highest grade). These increases will remain in effect until December 2026.
The Central Bank Deputy Governor’s monthly pay has been increased to around Rs. 1.7 million from Rs. 974,965,
“There will be no more salary increases for CBSL staff until 2027, whereas the Government can increase salaries whenever it receives higher tax income,” the Governor said, attempting to justify the raises at a time when many organizations have frozen salaries.
Previously, parliamentarians argued that the CBSL should have sought approval before implementing such substantial hikes, particularly considering that CBSL office aides now earn more than customs officers, IRD assessors, and excise inspectors.
