The proposed hike in the Cost-of-Living (COL) allowance for public servants and pensioners will be effective from January, a spokesman for the Government said yesterday (26).
Following a meeting of the State Revenue Unit chaired by President Ranil Wickremesinghe, it was decided that Government employees would receive an initial Rs. 5,000 increase from January.
Pensioners too will benefit with an increase of Rs. 2,500 also from January
As outlined in President Wickremesinghe’s Budget speech, the initiative aims to provide Government employees with an additional Rs. 10,000 COL allowance. Of this sum, an initial installment of Rs. 5,000 was slated for disbursement in April 2024, with the remaining amount in October.