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FIJI: Govt to Award $1.6 Million in Bonuses
Source: islandsbusiness
Source Date: Wednesday, October 19, 2011
Focus: ICT for MDGs, Internet Governance
Country: Fiji
Created: Oct 25, 2011

Employees of six state owned enterprises who have outperformed during the 2009 and 2010 fiscal years will be splitting $1.6million in bonuses given by the state. The companies which will receive the bonuses are Airports Fiji Ltd, Public Rental Board, Fiji Broadcasting Corporation Ltd, Fiji Electricity Authority, Fiji Meat Industry Board, Fiji Ports Corporation Ltd and its subsidiary Fiji Ships & Heavy Industries Ltd. The approval for bonuses comes after a review of the financial performance of the organisations which was measured against the government’s performance management system. Attorney General and Minister for Public Enterprise Aiyaz Sayed-Khaiyum said the government recognised productivity and gave rewards based on performance and merit. “We are proud of their successes and expect they will remain inspired to keep up the good work because the strong performance of state-owned enterprises creates jobs and helps to build a strong nation,” said Sayed-Khaiyum. Fijian commercial entities that qualified for bonuses based on financial performance include: - Airports Fiji, Ltd: Net profit exceeded expectations by 60 per cent, triggering a bonus to all 447 staff. - Public Rental Board: Net profit exceeded expectations by 44 per cent, triggering bonuses to 19 members of the total 42 staff. Management and CEO are excluded from bonuses. - Fiji Broadcasting Corporation, Ltd: Net profit grew 244 per cent year over year, exceeding expectations by 103 percent, triggering bonuses to all 120 staff. - Fiji Electricity Authority: Bonus applies to all 663 staff. - Fiji Meat Industry Board: Net profit after tax exceeded budgeted loss by 136 per cent, triggering a bonus to 72 of 84 staff. Twelve individuals' performance did not qualify for a bonus. - Fiji Ports Corporation, Ltd: Net profit exceeded expectations by 89 per cent, triggering bonuses to all 163 staff. - Fiji Ships &Heavy Industries, Ltd: Net profit exceeded year over year earnings by 76 per cent and beat expectations by 103 per cent, triggering bonuses to all 45 staff.

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