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Cabinet approves State sector employees bonuses

Payments of bonuses to employees of Government Corporations and state owned enterprises for the year 2017 has been approved by Cabinet.

The bonuses ranging from Rs.15,000 to Rs.3000 have been split into four categories. They are:

-Government Corporations and Fully Government Owned Companies which have canned profits during the relevant financial year including enterprises those who have turned around their entity from loss making status to profit making status during the year but, do not/did not pay any incentives based on attendance, performance or any other form of incentives will have a bonus of Rs. 15,000.

-Government Corporations and Fully Government Owned Companies which have earned profits during the relevant financial year including Enterprises those who have turned around their entity from loss making status to profit making status during the year and pay/ have paid incentives based off attendance, performance or any other form of incentives will have a bonus of Rs.13,500.

-Government Corporations and fully Government Owned Companies which have recorded a loss during the relevant financial year but, reduce the loss compared to the last financial year will have a bonus of Rs.5000.

-Government Corporations and Fully Government Owned Companies which have recorded a loss during the previous financial year and failed to reduce the loss compared to the last financial year, on sympathetic grounds towards the staff of such institutions will receive a bonus of Rs 3000.

The above bonuses however will not apply to Government Corporations and fully owned Government Owned Companies which pay salaries and other allowances under the collective agreements or any other similar memorandum of understanding.