Cabinet bans payment of rewards, bonuses at state companies

Cabinet bans payment of rewards, bonuses at state companies

The Cabinet of Ministers of Ukraine has banned the payment of rewards and bonuses at state-owned companies.

The respective decision was made at a government meeting on Wednesday, according to an Ukrinform correspondent.

"I respect corporate governance. I respect the independence of supervisory councils. I respect all of this, but I also ask to respect the Ukrainian people, to perceive the reality, and not to live somewhere in transcendental figures, stories. Therefore, colleagues, I ask you to support this decision - to ban the payment of rewards and bonuses at state-owned companies," Prime Minister Volodymyr Groysman said.

In addition, he instructed the Economic Development and Trade Ministry to issue this decision in accordance with "best practices of corporate governance, without interfering with the independence of governance."

"I believe and support that salaries should be worthy, bonuses should be worthy so that people do not engage in corruption, but I cannot support such greediness, excesses, fantastic figures that are planned or proposed to be paid," Groysman said.

First Deputy Prime Minister and Economic Development and Trade Minister Stepan Kubiv, in turn, said that the order would be executed within three days, after which the government decision will be submitted to the prime minister for signature.

As reported, NJSC Naftogaz of Ukraine's supervisory board decided to pay bonuses to the board of directors due to the company's victory over Gazprom at the Stockholm arbitration court. The amount of the bonus is 1% of the amount won under the transit contract, namely $45.6 million.


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