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CBSL employees criticize the CBSL governor in a letter for the first time in history

For the first time in the history of the Central Bank, the Unions of the Central Bank distribute a common circular condemning the actions & behaviour of the incumbent Governor, within the bank. The distribution of the circular was done by around 200 members of the staff, today (December 1, 2022).

To all our Members

As you all know, we have been engaged in constant struggles with the management to protect the rights of the workers, and we have gone beyond that recently and shouldered the great responsibility of fulfilling our duty to the country for a good political environment and we greatly appreciate the dedication received from you for that. It is no secret that even though we all were able to make some changes in the political environment that were fulfilling the hopes of a huge number of people who came forward for the country in the face of the severe economic crisis, it is not a secret that we have not been able to achieve a political environment that everyone is hoping for. Although we tried to heal the wound called economic crisis by applying small band-aids, we have to admit that it has turned into a cancer that has covered the entire country.

Currently, it has been generalized among the public that it is impossible to cure this cancer without the help of the doctor called the International Monetary Fund. The society has also been made to believe that all state-owned properties should be sold and privatized to save the country. Resolutions have been passed to increase the government revenue by imposing a huge tax burden on the people. In any case, the rulers will enjoy themselves by making pro-Western economic policies that will further harm the innocent people.

Without calling for any sacrifices from the privileged groups, without stopping wasteful spending in the country, without proper measures to strengthen the tax collection network, the working people are being made to bear all the hardships, and we see the media campaign constantly while the innocent people are under more and more pressure. At the same time, through all this, the governor seems to be determined to only protect his own reputation. Therefore as professional associations, we hope to make further comments about this in the future.

We would like to first remind you that our Unions did not hesitate to inform you of the danger as soon as we heard about the appointment of the current Governor. But, we put aside the demands of the employees and took a step back for the sake of the country. Now, 8 months later, it appears that there are only media campaigns, and the Governor’s attitude towards employee demands is still the same.

Therefore, we would like to recall our criticism regarding the appointment of the current Governor.

It is now made out as if he has not made any contribution to making major decisions regarding the country’s economic deterioration while holding the position of Senior Deputy Governor for many years until 2020. It is obvious that if his contribution was effective, there would not have been such a severe economic crisis just about two years after his retirement.

In any case, Isn’t it a burden to the country to have had a position of senior deputy governor which did not exist before in the history of the central bank and for him to enjoy huge salaries and allowances for that position?

Why was it not possible during his tenure as Deputy Governor to take necessary measures before the collapse of the finance companies, even though it was known earlier that the country was going into crisis? Wasn’t he even questioned by the Criminal Investigation Department (CID) regarding the ETI scam in 2020, because he failed to perform his duty properly?

What was the benefit of him traveling abroad more than 12 times each year during the last few years as Deputy Governor? Wasn’t the money spent on his foreign tours just a waste of public money? What was the advice given by him as a senior officer to the then Governor at the time of the bond fraud which caused great infamy to our institution? As an official who accompanied the Governor to the public debt department on the day of the incident, didn’t he have a responsibility to set aside his personal privileges and explain the damage that had been caused to the economy?

Also, what is the justification that led to the increase of his pension as a Deputy Governor by about two hundred thousand rupees along with the last salary revision of 2021-2023? It is not a secret in the Bank as to how he, as the Deputy Governor, created the opportunity for the matter to be considered through a calculated request from a retired officer to determine the pension on the date of retirement so that it would be favourable to him.

In the year 2019, the Bank also made quick arrangements to deprive all employees of their privileges by abolishing the tax payment system and at the same time, it was done to save the retirement allowances and retain all the privileges that he had as a deputy governor.

His hand was also the invisible hand which misled the Governor and engineered the shameless attempt to take account of the unjustly increased salary of only a group of people during the 2018-2020 salary revision.

Members are also informed that our Associations have decided to use this opportunity to comment on the decisions taken by the current Governor for the country during the past period and it is necessary to do so in order to save the country from the economic crisis and defeat the western conspiracies. Let’s make it clear that we are not afraid to take that step for the sake of our country.

Yours in brotherhood,

  1. Central Bank Employees’ Union
  2. Central Bank Graduates’ Trade Union
  3. Central Bank Employees’ Alliance Solidatiry Union
  4. Central Bank Jathika Podu Sewaka Sangamaya
  5. Central Bank of Sri Lanka Employees’ Union

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