Chambers slam compensation formula
 Business leaders representing 90 percent of Sri Lanka's trade and industry last week slammed the government's latest compensation formula for retrenching workers, saying it would discourage local and foreign investors.

At a news conference organized by J-Biz in Colombo, speakers (all heads of chambers) highlighted the negatives of the workmen's compensation formula, laws to be introduced to increase the salaries of private sector employees and the impending imposition of 5 percent BTT by the Western Provincial Council.

Gotabhaya Dasanayake, Secretary-General, EFC said the new law once implemented would apply to retrenchment of workers in the event of closure or restructuring of work places.
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