MoF suspends PBVI for SOEs

Employees of all State-Owned Enterprises (SOEs) will not get the Performance-Based Variable Incentive or PBVI this year. According to the Finance Minister, the incentive will be suspended until the government’s finances improve. The PBVI was one of the major features of the 2019 hike for SOEs. The 25 per cent corporate allowances for State-Owned Enterprises were slashed in accordance with the 2019 Pay Revision. Instead, the annual PBVI was introduced along with a 20 per cent housing allowance.