Archives

A walk out campaign has been organised by the Ceylon Bank Employees Union (CBEU) of the Bank of Ceylon Branch against the proposed closure of their branches at Prince Street and D. R. Wijewardene Mawatha (Lake House branch.) The union is also protesting against a move to sell the Grand Oriental Hotel building which houses their foreign currency branch.

"The Union has decided to stage this walk out on November 25 and over 5,000 employees from more than 15 Bank of Ceylon branches in Colombo will participate in this walk out," said the Secretary of the CBEU Ratnasiri Kalupahana.

Speaking to the 'Daily News' he said that in addition they have organised a series of campaigns against this move and also many other issues.

"Our campaign will start today opposite the GOH building during the lunch hour with the participation of over 5,000 employees."

Kalupahana said that the Union action also includes disregarding orders from the senior management in their respective branches.

The Secretary said that the Union has received information that the World Bank (WB) and the International Monetary Fund (IMF) has given instructions to the Central Bank ordering them to stop the two state banks from opening any more branches.

"The orders given by the Central Bank state that if both state banks are hoping to open a new branch they have to close an existing branch."

He said that this is very unfair since it automatically cuts off the expansion programs of the two state banks.

"The irony of this directive is the fact that none of the private banks has been given such an order and they are free to open branches at any given time."

Kalupahana said that the bank management has decided to close the Prince Street and D. R. Wijewardene Mawatha branches and instead open new branches at Malabe and Narahenpita.

"What we are asking is to open new branches at Malabe and Narahenpita while the Prince Street and D. R. Wijewardene Mawatha branches remain open."

The Union is also of the opinion that the Bank could gain financially if they are given the green light by the Central Bank to open branches in the North East.

The Secretary said that there is information that the government has requested the Management and the Board of Directors of the Bank of Ceylon to sell the GOH building at York Street and hand over the money to the government. "We have also received information that PERC officials have already inspected the GOH building."

"The GOH had been the head office of the bank and today the estimated value of the building which even houses the Grand Oriental Hotel is around Rs. 150 million. But we understand that the Bank authorities and PERC are negotiating to sell this under half the price.

The argument put forward by the bank management is that the people do not have the money to buy property at present day market value."

"There is no financial crisis in the bank and there is no reason to sell the fixed assets such as the GOH to gain cash."

He said that until such time a written guarantee is given by the management on these issues their campaign would continue. SS

News | Business | Features | Editorial | Security
Politics | World | Letters | Sports | Obituaries |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager