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$1.2 million bonus payout for FEA Staff Announced

A $1.2 million bonus payment has been announced for the 750 staff members of the Fiji Electricity Authority. This is a performance payout for the financial year 2014 and is
02 Dec 2015 08:19
$1.2 million bonus  payout for FEA Staff Announced

A $1.2 million bonus payment has been announced for the 750 staff members of the Fiji Electricity Authority.

This is a performance payout for the financial year 2014 and is based on set key performance indicators (KPI).

The announcement was made by the Minister for Public Enterprises and Acting Prime Minister, Aiyaz Sayed-Khaiyum, yesterday in Suva.

At least 70 per cent of the bonus payout will go to the non-management staff members which comes to around $0.84 million.

Mr Sayed-Khaiyum said it was very critical to understand that the FEA played pivotal role in the development of the Fijian economy.

“As you know electricity is a very important utility now, it really is not a want anymore but a need,” he said.

Mr Sayed-Khaiyum stressed therefore the FEA has a much broader role and at the same time needs to manage the development agenda together with its need for profitability.

“They need to get bonus and in need to get bonus, they need to be profitable too,” he said.

And while the big bonus is being paid out, Mr Sayed-Khaiyum reminded the staff members of their responsibility towards FEA and its success.

“The staff members need to carry out the performance as required in order justifying the bonuses which is going to be paid out,” he said.

Mr Sayed-Khaiyum noted that one of the things which affects FEA’s margins is the weather patterns which go down when there is less water in the dam.

 

Update on divestment

As highlighted earlier, Government is looking at divesting its shares in FEA to bring in private sector expertise into the organisation.

Mr Sayed-Khaiyum said private sector participation was something the Government is keen to have.

With the expressions of interest now closed, Mr Sayed-Khaiyum said there are 12 to 13 companies who have put forward their proposals.

“In the next few months, we will be going over the proposals,” he said.

Feedback:  rachnal@fijisun.com.fj

 

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