Employees working in state owned corporations have a reason to celebrate the New Year in a big way. Their salary has been revised by 20 percent.
The revision was approved by the cabinet yesterday.
The 20 percent revision will be tabulated after merging the existing 15 percent corporate allowance with their basic pay.
It will come into effect from July 2011.
A press release from the Prime Minister’s office says “after the pay revision of civil servants, and after DHI’s approval of a 20 percent allowance to the employees of its corporations in January 2011, the cabinet noted that there has been a need for the revision of the pay and allowances of the Finance Ministry corporations as well.”
