23 December 2023 10:53 am Views - 1110
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Shehan Semasinghe
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Finance State Minister Shehan Semasinghe yesterday said the government institutions would not be permitted to grant bonuses to employees, unless they have generated profits for the financial year 2022 and contributed to the Consolidated Fund.
“Payment of bonus to the staff of commercial corporations, statutory boards and government owned companies for the year 2023 should be granted if the institutions have earned profits during the financial year 2022 and have paid at least 30 percent of the profit after tax as dividend to the Consolidated Fund,” Semasinghe said in a social media message.
“If the above said institutions have earned profits during the financial year 2022 but have not paid at least 30 percent of the profit after tax as dividend to the Consolidated Fund or have recorded a loss during the financial year 2022 are not entitled to have a bonus based on the profitability of the institution,” he added.