Sri Lanka Treasury bill yields begin to fall

ECONOMYNEXT — Sri Lanka President Ranil Wickremesinghe has offered his thanks to non-executive government employees who reported for duty on two days of strikes, as trade unions threatened to bring the state sector to a halt.

“I want to thank the non-executive government employees who reported for duty on July 8 and 9. Your commitment during these challenging economic times exemplifies true patriotism and integrity,” Wickremesinghe tweeted Wednesday July 10 afternoon.

“As a mark of our gratitude, the cabinet has approved a special salary increment following my proposal. This increment recognises your efforts to strengthen the country and support its people when Sri Lanka needs you the most,” he said.

The government announced on Tuesday that it would grant a special pay increment to non-executive government officials who reported for duty on July 8 and 9, despite an ongoing trade union action.

They will also be issued a commendation certificate for future promotions, the president’s media division said on Tuesday.

“Non-executive government employees, who reported for duty on July 8 and 9, 2024, will be granted a special salary increment as a token of appreciation for their dedication during a challenging economic period.”

Sections of the country’s public sector went on strike, or reported sick, Monday and Tuesday causing immense inconvenience to people.

Trade unions behind the strikes are demanding a salary hike.

The government earlier this year provided a monthly allowance of 10,000 rupees to all public servants.

The country will need an extra 275 billion rupees to give 20,000 rupee salary hike to state workers, requiring value added tax to be raised by 4 percent, State Minister for Finance Shehan Semasinghe said. (Colombo/Jul10/2024)

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