Sri Lanka, Feb. 27 -- A key trade union defended the sharp salary hike of the Central Bank (CB) employees, citing it as an essential measure to stop brain drain within the institution and maintain operations with no disruptions.
The Executive Officers' Union in a statement yesterday revealed that the CB lost over 100 of its experienced and qualified staff over the past one-year period to the private sector, multilateral organisations and foreign central banks.
"If this salary revision didn't take place, the existing trend could have further worsened, with a considerable number of remaining employees leaving the country for better prospects; this could have disrupted the operations of the CB," the Executive Officers' Union stressed. As the...