Government to amend remuneration of SOE Managing Directors

Source: Mihaaru

The Ministry of Finance in their circular published on Monday noted the government’s plan on amending remunerations of managing directors of state-owned enterprises (SOEs).

In the circular the ministry had noted that the Privatization and Corporatization Board had presented a bill on 6 July 2017 proposing performance evaluation on state-owned companies and the amendment on the remuneration of managing directors based on the said evaluation.

The state-owned companies were advised to present their company targets for 2019 to the Privatization board on or before 30 April 2019, in order to carry out the performance evaluation.

The ministry asserted that the remuneration of managing directors of state-owned enterprises will be amended based on the target achievements by the SOEs.


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