Cabinet Sets Maximum Monthly Remuneration Of UAH 246,800 For Independent Members Of Naftogaz Supervisory Board

The Cabinet of Ministers has set the maximum monthly remuneration of UAH 246,800 for independent members of the Naftogaz of Ukraine national joint stock company’s supervisory board.

The relevant decision was made at a meeting of the Cabinet of Ministers on Wednesday, August 5, the Ukrainian News Agency reports.

According to the materials for the meeting, data from the State Statistics Service shows that the maximum monthly remuneration for a member of Naftogaz of Ukraine’s supervisory board is 22 times the average monthly salary for this type of economic activity (UAH 11,220).

Thus, the maximum annual remuneration for a member of Naftogaz of Ukraine’s supervisory board is UAH 2.962 million.

According to the Cabinet of Ministers’ decision, the size of the remuneration will be reviewed annually at a general meeting, taking account of the average monthly salary.

As Ukrainian News Agency earlier reported, the Cabinet of Ministers recently approved Naftogaz of Ukraine’s report for 2019 and declared the work of the company’s supervisory board and board of directors satisfactory.

Naftogaz of Ukraine is the leading company in Ukraine in terms of exploration and development of oil and gas deposits, drilling, transportation, and storage of crude oil and natural gas, and supply of natural gas to consumers.