Saturday
23rd Nov 2024
Dhivehi Edition
MP Saeed. Photo: TMJ
Vice President of People's National Congress (PNC) and parliament representative for Maavashu constituency Mohamed Saeed declared that President Solih shows a lack of responsibility and that this is not the time to increase the salary of executives in state-owned enterprises.
Speaking on the Ministry of Finance's changes to performance evaluation and decision to increase salaries for executives of state enterprises, Saeed tweeted that increasing the salaries of executives while thousands of employees in all industries are still unable to earn 50 percent of their basic salary shows a lack of responsibility on part of the president.
"What time is this to increase the salaries of executives? Government tax breaks to companies/resorts that have cut pay! Increasing salaries of executives?"
MP Saeed stated that salaries of executives must not be increased while the staff of state-owned companies and resorts are still not provided full pay.
The Finance Ministry increased the salaries of Managing Directors and Deputy Managing Directors of state-owned enterprises while categorizing companies and revising the remunerations for Directors, Chairmen, and Board Members.
With the new policy, Managing Directors of higher-level companies will receive a salary of over MVR 113,000, and Managing Directors of lower-level companies can also receive MVR 80,000 after a performance review. The ministry, with the new policy, hopes to pave the way for salaries to be based on the work, responsibilities, and achievements of executives.