Revised CoL circular released

Shirley Wijesinghe

The Government has revised the payment of Cost of Living (CoL) allowance according the Management Circular No 28(111), effective from July 01, 2008. Employees of State Corporations, Statuary Boards and fully owned Government institutions will be entitled.

The CoL allowance of Rs.2,500 paid up to June 30 , 2008 to those employees whose initial salary is less than Rs. 25,640 will be increased to Rs. 3,500 from July 01, 2008. A monthly allowance of Rs. 2,875 will be paid from July 01, 2008 to those whose basic monthly salary is above Rs. 25,640. Daily paid employees will be paid Rs. 116.66 per day up to a maximum of Rs. 3,500 per month from July 01.

The Management Circular No. 29 (1V) was released by the Management Services Department of the Treasury on Friday.