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Treasury approves bonus to employees of state corporations and government owned companies

The cabinet has approved payment of bonus to the employees of state corporations and fully State-owned enterprises for the year 2017.

Accordingly, employees of government agencies will receive a bonus from a minimum of Rs. 3,000 to a maximum of Rs. 15,000 under four categories. The circular regarding the bonuses has been issued by the Treasury on December 11, 2017, the Ministry of Finance and Mass Media said.

The cabinet has approved Rs. 15,000 bonus for the employees of state institutions, which made profits this year preventing the losses incurred last year and do not grant bonuses.

Approval has been granted to increase the bonus payment of Rs. 3000 to Rs. 5000 for the employees of the state institutions which did record profits this year but minimized the losses incurred this year relative to the last year.

For the employees of institutions which incurred losses this year and were not able to minimize the losses relative to the last year, a bonus of Rs. 3000 will be granted.

However, these provisions do not apply to fully owned government institutions or state corporations operating on salaries and allowances through collective agreements or similar MoUs.

For the employees in those institutions salary of a month or two as bonus will be paid in the future.

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