Treasury approves bonus for state-owned bodies

2019-12-12 at 17:11

The Ministry of Finance says the Treasury has approved bonus payments for 2019 for employees of state-owned statutory bodies and fully state-owned companies.

Issuing a statement the Ministry said the Treasury has issued a circular in this regard to all Secretaries to Ministries, Heads of fully State owned Companies and Chairmen of all State Owned Enterprises.

State Owned Enterprises eligible to pay bonuses have been advised to pay bonuses for 2019 to all staff based on the financial report of their 2018 financial year, as given last year.

The Ministry said circular No:03/2018 of the Department of Public Enterprises issued on the 7th of December 2018 is valid for this purpose.

The bonus will be subject to payment of all statutory payments made by the respective State Owned Enterprises, even though if there is no board of directors appointed to any such State Owned Enterprises.