State Minister for Finance, Ranjith Siyambalapitiya, has announced the implementation of the first phase of the Rs 10,000 salary increase proposed in this year’s budget. The treasury has released funds related to the Rs 5,000 allowance, marking the initial step in the salary increment plan.
Currently, approximately 95 billion rupees are allocated for government employee salaries. The State Minister highlighted that this amount will see an additional increase of 7 billion rupees from January. Following the proposed Rs 10,000 salary increase set for April, the government is expected to spend an extra 14 billion rupees on employee salaries.
In a challenging financial context where printing money and borrowing have ceased, the State Minister emphasized the importance of stringent cost management to save the necessary funds for the salary increments.
