MPL decides in favor of 20 percent pay cut for board members

Maldives Ports Limited (MPL) has decided to reduce the salaries of board members by 20 percent to reduce the impact of the Covid-19 on the economy.

The pay cut will affect the senior executive employees and HoD’s of the company and will be in effect until the current public health emergency is declared as over.

The general employees of the company will not be affected by this and will be working to ensure that no disruptions are caused to the operations of the company.

Other than MPL, the government has also decided to reduce the salaries of political appointees by 20 percent and the senior positions of state-owned enterprises. MPs have also decided in favor of taking a pay cut of 20 percent to cope with the economic situation of the country.

Work is also being conducted on saving MVR 1 billion from state expenditure.

The virus has had an immense impact on the economy of the country which is heavily dependent on tourism. A reduction of 35 percent from tourist arrivals is also expected for the year.