| Senior level officials in more than 230 state-owned enterprises will get more than double their allowances from this month.
The biggest beneficiaries will be chairpersons of category A state-owned enterprises (SOEs) such as the Ceylon Petroleum Corporation (CPA), the Ceylon Electricity Board and the Ports Authority. Their monthly allowance from May 1 will be Rs. 90,000, up from Rs. 40,000.
The executive and working directors of SOEs in this category will receive a monthly allowance of Rs 70,000, up from Rs. 30, 000.
The chairpersons of category B SOEs such as the Mihin Lanka (Pvt) Ltd, the National Lotteries Board and the Urban Development Authority (UDA) will get a monthly allowance of Rs70,000, up from Rs. 35,000 while the executive and working directors of these institutions will get an enhanced allowance of Rs. 55,000, up from Rs. 25,000.
There are 34 such institutions.
Chairpersons of category C SOEs such as the Sri Jayewardenepura Hospital, the Lankaputra Development Bank and the Sri Lanka Rupavahini Corporation will have their monthly allowance increased to Rs. 60,000, up from Rs. 30,000 while Executive/Working Directors of these institutions will receive Rs45,000, up from Rs. 20,000.
There are 40 institutions in this category.
The Finance Ministry in a circular has explained that a person who holds the office of chairman of more than one SOE, will get the full allowance of one and 50% of the other
A person who acts as chairperson of the SOE for more than a month is entitled for an acting allowance of 50% of the chairman's allowance.
The payments for heads and high officials of universities which are categorized State Owed Non-Commercial Enterprises (SONCEs) and affiliated institutions will be decided by the appropriate authority.
The SOEs have been categorized as State-Owned Commercial Enterprises (SOCEs) that generate their own income through commercial operations while State Owed Non-Commercial Enterprise (SONCEs) operate largely within government budgetary provisions and include statutory boards, regulatory bodies, research organizations and universities. |
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