People’s Bank staff protest extension for general manager

People’s Bank employees have protested against attempts by its top management for an extension of service to its Chief Executive Of f icer ( CEO)- General Manager ( GM), even after he reaches 60 years of age in October.

Both the People’s Bank Officers’ Association and the People’s Bank Unit of the Ceylon Bank Employees’ Union, have raised issue over the move, pointing out that no previous CEO- GM of a State bank had ever been granted an extension, after reaching 60 years of age.

Any attempt to grant the official an extension would also contravene recommendations made by the Committee on Public Enterprises (COPE), they also point out. Earlier last month, COPE noted that the monthly salary of the GM who had been recruited on contract basis, was Rs 2.1 million. Moreover, the present GM and his predecessor had been paid a whopping Rs 75 million each, in salary arrears based on a 10% annual pay hike agreement, COPE had further observed.

The Bank’s Chairman had informed COPE that a 6-month service extension had been sought for the GM, as a time period was needed for the incoming GM to be trained in the duties.

The COPE, however, had observed there was a precedent among State banks of not giving an extension to officers over 60 years, and further ordered this to be conveyed to the Treasury Secretary.

The Bank’s trade unions have noted there are sufficient experienced and qualified officers to take over as the new CEO-GM, and the management should have taken steps to identify and train them, to enable one of them to take over.