More than $1.6 million in bonus payment has been approved by the government to the employees of six state owned enterprises that out performed during the 2009 and 2010 fiscal years according to the Public Enterprise Ministry.
However the company officials, except FEA, and the ministry responsible are yet to reveal whether some of the state owned companies getting bonuses receive government grants or subsidies before each financial year and whether these grants are factored in as revenue when the profit was calculated.
Acting Prime Minister and Public Enterprises Minister, Aiyaz Sayed-Khaiyum said proper assessments were carried out before the bonuses were approved.
However he refused to comment on further questions on whether the government grants were factored in as revenue for some companies before the profits were calculated.
The six state owned enterprises who have been awarded bonuses are Airports Fiji Limited, Public Rental Board, Fiji Broadcasting Corporation Limited, Fiji Electricity Authority, Fiji Meat Industry Board, Fiji Ports Corporation Limited and Fiji Ships and Heavy Industries Limited.
We have contacted all the seven companies.
FEA Chief Executive, Hasmukh Patel said their 660 employees will receive a bonus payment allocated by the government.
When questioned, Patel said that FEA does not get any money from the government and the only subsidy is for customers using up to 75 units of electricity per month.
He said FEA made a profit of $8.4 million after tax last year and $2.4 million profit after tax in 2009 which is why the employees are entitled to the bonus.
We asked state owned broadcaster, FBCL’s Chief Executive, Riyaz Sayed-Khaiyum on the company’s profit achievement and how much government grant was received by the company before their financial year for 2009 and 2010.
We also asked if the grants were factored in as revenue before the calculations of the profit.
Riyaz Sayed-Khaiyum said the bonus has been approved for FBCL and he refused to comment further to any other queries.
According to the approved 2011 National Budget, the government allocated $1.1 million for Public Service Broadcasting Radio and $1.8 million for Public Service Broadcasting Television.
But Riyaz Sayed-Khaiyum said he will not say anything further.
An email has been sent to Airports Fiji Limited where all 447 staff will receive a bonus.
Fiji Meats Industry Board did not wish to comment saying it does not have the authority to make any comments and referred all queries to the Public Enterprises Ministry while the Public Rental Board says it will comment later.
According to the 2011 National Budget, PRB was allocated $1 million in subsidy.
Fiji Ports Corporation and Fiji Ships & Heavy Industries Limited are yet to comment.
Story by: Sneh Chaudhry, Filipe Naikaso & Vijay Narayan
Feature
Bonus payments to 7 state owned enterprises
