Govt. pushes to unify salary structure of State companies

Ministry of Finance has announced it plans on unifying the salary structure of all State companies this year.

Ministry of Finance released a press statement this Thursday highlighting its main agenda for the year 2019.

An important item in the agenda includes revising the salary structure of State companies and unifying the salary structure to reduce in equality and differentiation.

Ministry of Finance has also announced other changes in the plans for State companies.

The ministry, in its statement, stressed the deviancies and inconsistencies in the current work of State companies and its original mandate when first established.

The ministry said it plans on revising all regulations and bylaws of State companies and amending it to comply with current laws and regulations.

The office said it also plans on ranking State companies based on its performance, and establishing a Corporate Governance Code compliant with the OECD standard.

The ministry also plans on establishing a database management system for the Privatization and Corporatization Board and start maintaining records of State companies.