Posts tagged Bonuses

FEA Employees to Receive Performance-Based Bonuses

The Fiji Electricity Authority (FEA) will be paying out performance-based bonuses to all of its 729 employees  for the 2012 financial year.

Those who will benefit include all of FEA’s 691 salary and wage earners, as well as established and senior staff.

For salary and wage earners, the payout totals $887,979.08.

The amount to be paid to each individual will be based on the results of performance reviews carried out by the FEA and audited independently by PricewaterhouseCoopers.

“The Bainimarama Government is committed to the principal of rewarding hardworking Fijians in our public enterprises and civil service,” said the Attorney-General and Minister for Public Enterprises, Aiyaz Sayed-Khaiyum.

“These bonuses are based on performance and output and the Government recognises workers’ commitment  and their productivity,” the Minister said.

The Minister also recognised the strong partnership between the workers and the management as a key factor in the improvement of FEA’s financial performance and productivity over the years, and especially in 2012.

FEA recorded a net profit after tax of $75.3M for the 2012 financial year – a 45 per cent increase compared to 2011.

FEA Board Chairman, Mr. Nizam Ud-Dean, said that the organisation has continued to attain a good level of performance and this was an important factor in an entity such as FEA, which has very high targets for both capital and recurrent budgets and a high demand for reliable service.

FEA CEO, Mr Hasmukh Patel, said he wishes to convey his heartfelt appreciation to his team for their invaluable contribution and tireless efforts in achieving this level of performance and looks forward to their continued support in ensuring an even better performance in the years ahead.