COVID-19: GOVERNMENT TO ENFORCE PAY CUTS

Ministry of Finance (MOF) has sent a circular to all the companies the Government is a shareholder to, informing that pay cuts are to be implemented for employees with MVR 15,000 and above salaries.

Alterations to the pay structure are to be sent to the Ministry before 5 May 2020 and shall be implemented by the company upon approval by the Ministry.

The circular further stipulates guidelines for bringing alterations to the pay structure.