Treasury approves bonuses for SOEs, statutory bodies

Friday, 13 December 2019 00:00 - - {{hitsCtrl.values.hits}}

The Treasury has approved the payment bonus for 2019 for the employees of State-owned statutory bodies and fully State-owned companies, the Finance Ministry said in a statement yesterday.

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 (SOEs).

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

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

The bonus of 2019 will be subject to payment of all statutory payments made by the respective SOEs, even though if there is no Board of Directors appointed to any such SOE.