While I agree with most of what he said regarding economic recovery, with regard to salary hike, the issue is not the salary hike but the scale of it. As a frame of reference if we take US central bank (Federal Reserve Bank), there an entry level career officer (with PhD) earns 2x as much as median family income of USA. In comparison, an entry level career officer (with BSc) in CBSL would be earning as much as 10x the median family income of Sri Lanka. This officer would be earning more than a senior professor in a government university who would have worked more than 20 years. What ever justification, the scale is unjustifiable.
Pitfalls are not far away, just around the corner, from the comments we have here and most of other sensible discussions we can assume where we are going end up.
Central bank is responsible for this whole mess.Its your duty to maintain the inflation and you (central bank) failed to do so and let down the country. How do you justify this huge pay raise for the same people who are responsible for the economic downturn?
We are bankrupt economically as well as morally because of the ineligible people in the position. The country is in a debt trap as a result of growing government expenditure. Their henchmen support them always in every circumstances and get the advantage of the situation. They create problems that make profits out of nothing and their salary hike.
What is a Central Bank of a Country? And what does it do? It is the institution that gives trust of personal ownership of all assets! It gives monitory value to all assets! Without it we can't fix a value to your Car, House, jewelry, etc! When we converted from the batar system to monitory system as a means of exchanging goods, we need some form of fixed value item, that can be changed for goods, earlier it was gold! Earlier currency value was fixed to gold standard. When countries dished gold standard it was eminent that some INDEPENDENT INSTITUTION was necessary to give trust to the public that they can freely exchange goods, without the fear of loosing the value between the transfer! E.g. I sell my house to 40 million, and intend to buy another house in a different location for 40 million. After selling the house all currency loose it's value and no one will accept it in exchange of goods! This will not happen if we have an Independent Central Bank!
This man talking like the economy has grown 80% , so private sector should increase salaries, public sector increase salaries, CB should increase the salaries. But economy is grown 2%. How private sector can afford 80% salary hike ? The collective agreement is illegal. Only employees sit on both side and negotiate. There is nothing to negotiate if there is no party in the bench who is going to lose. Collective agreement has to be sign between parliament and staff not between staff and staff
Not increasing taxes Governer but increase Productivity. You lack basic economic concepts. Increasing salaries without productivity improvements will result in higher inflation
Please make sure to keep it up ur dancing without interfering the economics realities. Do u even have a knowledge to define the difference between debt standstill and restructuring process. If u dont now then shut up without exhibiting your rude and ur madness 😅
