Nov 04, Colombo: The government of Sri Lanka is making arrangements to grant state employees a year-end bonus, the local media reported.
The government is reportedly considering to grant a year-end bonus ranging from Rs. 2,500 to Rs. 12,500 to employees of state corporations and companies.
The government is looking at making a permanent scheme to grant the bonus and a cabinet paper to the effect has r been submitted to the Cabinet of Ministers by President Mahinda Rajapaksa in his capacity as Finance Minister.
According to the latest move, employees of public corporations and fully state-owned companies that have registered profits in the relevant financial year will be given Rs. 12,500 as a bonus, if they receive no other incentives.
Also, those who receive such incentives, payments will average between Rs. 9,375 and Rs. 9,500 depending on the attendance and performance.
Meanwhile, the report states that employees of those enterprises which have made profits lower than the previous year will be entitled to Rs. 2,500.
As for employees of state owned corporations and companies that make losses will be paid a flat amount of Rs 1,000, as is done now.
The President has said that the latest proposal would encourage productivity.