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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka government has decided to limit recurrent costs, trade unions say

Sri Lanka government has decided to limit recurrent costs, trade unions say

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Jana

Jana
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Dec 16, Colombo: Sri Lanka trade unions say that the government has taken steps to cut all the public employees' allowances except salaries severely burdening the public employees with a financial crisis.

Trade unions say that the Secretary of the Ministry of Finance Dr. P.B. Jayasundara has instructed the secretaries of the Ministries to be extremely thrifty at a meeting held on December 11 at the Ministry of Finance.

According to reports, the Secretary of the Ministry of Finance has instructed the Ministry secretaries to pay only the salaries of the public employees and slash the other recurrent costs like overtime, extra allowances and fuel allowance.

According to the trade unions the government has taken this step due to the increase of overdraft of the state current accounts over 200 billion rupees.

The heads of the Bank of Ceylon and the People's Bank have warned the government regarding the phenomenon, trade unions said.
http://www.colombopage.com/archive_12B/Dec16_1355646668CH.php

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Jana wrote:Dec 16, Colombo: Sri Lanka trade unions say that the government has taken steps to cut all the public employees' allowances except salaries severely burdening the public employees with a financial crisis.

Trade unions say that the Secretary of the Ministry of Finance Dr. P.B. Jayasundara has instructed the secretaries of the Ministries to be extremely thrifty at a meeting held on December 11 at the Ministry of Finance.

According to reports, the Secretary of the Ministry of Finance has instructed the Ministry secretaries to pay only the salaries of the public employees and slash the other recurrent costs like overtime, extra allowances and fuel allowance.

According to the trade unions the government has taken this step due to the increase of overdraft of the state current accounts over 200 billion rupees.

The heads of the Bank of Ceylon and the People's Bank have warned the government regarding the phenomenon, trade unions said.
http://www.colombopage.com/archive_12B/Dec16_1355646668CH.php

Gov should address the fundamental causes .....if they gonna cut other allowances it will not gonna work..

1. It is necessary to reduce the number of Gov servants by stopping all the unnecessary recruitment. These all recruitment are political and you can show the statistics in elections that SL has very low level of unemployment but will the productivity increase?

2. What about loss making SOE. What is the accumulated loss in Mihin Lanka.. How many employees per Bus in the CTB... What are the solutions for these.. now we have pass 3 years after the war

3. What about using ICT in the gov sector.. clerical staff can be reduce to half ...if ICT is use effectively

4. What is the cost to maintain the jumbo cabinet and the parliament.. are they doing what they supposed to do. Now the parliament is there as a symbol that is used to show case the world that SL is a Democratic country..It has bent to the executive. what is the cost incurred to maintain the provincial councils..without proper implementation of 13 amendment there is no point in keeping PC..

5. Have done enough to attract FDI..






Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
My understanding was that we spend almost 70% of the borrowed money to meet this need, instead of trying to generate it internally.

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