Wage Cuts for the Directors of Public Institutions voted!

12788201_1733927753510568_958335551_nDelegates in the Assembly of the Sarajevo Canton (KS) adopted today the Law on salaries and allowances of members of management bodies and other bodies of institutions, cantonal public enterprises and public institutions, which implies a significant reduction in wages of heads of public enterprises.

Wage of directors of public enterprises and heads of other public institutions financed from the budget is limited to three average net wages in FBiH, which will be a significant cut in comparison with the previous period.

The new legal solution will make big savings in the budget, if it is known that some leaders of public enterprises have been receiving wages amounting to over 7.000 BAM in the past period. During the discussion, almost all delegates noted satisfaction with the adoption of this law, highlighting certain objections that will definitely need to be taken into consideration in the future.

Also, the monthly fee for presidents of administrative and supervisory boards should not exceed 50 percent of the average net wage pain in the FBiH in the previous three months. Members of management and supervisory boards may receive compensation amounting to 40 percent of the average net wage in the FBiH.

The penalties intended for all those who do not comply with these legally defined amounts for wages have been set to between 10.000 BAM and 30.000 BAM for legal bodies, and from 5.000 BAM to 10.0000 BAM for the person responsible.

(Source: klix.ba)

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