Govt. announces more pay cuts

The finance minister has announced on Thursday it would impose further pay cuts on government employees.

The minister announced the pay cuts in a press briefing on Thursday afternoon. The minister said the decision was made because it did not any future improvements in government income and noted that the financial situation of Maldives will deteriorate further.

The minister pointed out that people whom earn between MVR 20,000 to MVR 25,000 would take 20 per cent more pay cuts and people whom earn between MVR 25, 000 to 60,000 would take 30 per cent pay cuts. Government employees whom earn above MVR 60,000 will undergo a 35 per cent pay cuts.

Previously government has imposed 20 percent pay cuts on employees above deputy minister level.

Ameer also noted that the government also previously impose cut on the salary of deputy managing directors and managing directors of government companies.

The government has imposed a 22 per cent cut on basic salary and ceases paying MVR 11,000 board allowance altogether. As this would result in a 33 per cent reduction in salary.

The minister has said this would save MVR 15 Million per month in government expenditures

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