Colombo (LNW): The government is actively working towards implementing a proposed salary increase for government employees, with plans to allocate Rs 5,000 from the additional allowance starting January 2024, Finance State Minister Ranjith Siyambalapitiya disclosed.
The Minister noted that President Ranil Wickremesinghe’s 2024 Budget includes a Rs. 10,000 Cost of Living allowance for government employees, and the initial Rs. 5,000 instalment is scheduled for disbursement in April 2024, followed by the remaining amount in October.
The government is committed to fulfilling half of the Rs. 10,000 salary increase mentioned in the 2024 budget, with the Rs. 5,000 increment set to be provided from January, Siyambalapitiya went on, adding that pensioners are slated to receive an increased amount of Rs. 2,500 from January onwards.
During a meeting chaired by the President, there was a strong request to expedite the provision of this allowance from January, and the government is actively working towards meeting this timeline.
To implement the proposed allowances, the government anticipates a monthly requirement of Rs. 6.5 billion for the Rs. 5,000 allowance to government employees and Rs. 1.8 billion for the Rs. 2,500 pension increase. Minister Siyambalapitiya assured that the government is proactively addressing this financial commitment, highlighting efforts to collect tax arrears from state institutions, including Customs.
The income generated from these initiatives is expected to contribute to meeting the financial obligations associated with the increased salaries and pensions, he added.
