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27.05 27.35
30.7 31.25
Economy 2019-03-15T04:08:19+02:00
Ukrainian news
Cabinet Initiating Introduction By Naftogaz Supervisory Board Of New Contract With Company Management With Lim

Cabinet Initiating Introduction By Naftogaz Supervisory Board Of New Contract With Company Management With Limited Salaries And Rewards

The Cabinet of Ministers is initiating the introduction by the supervisory board of the Naftogaz of Ukraine national joint-stock company of a new contract with the management of the company with limited salaries and rewards.

Prime Minister Volodymyr Groysman announced this during a government meeting, Ukrainian News Agency reports.

The current contract ends on March 22 of the current year.

"I believe - and not only me - that the contract, which has been in force for five years, contains conditions that are currently unacceptable. I mean the conditions of labor remuneration and various rewards that the Naftogaz board receives," he said.

At the same time, Groysman noted that a legal opportunity arises in the government to revise the terms of the contract with the board when drafting a new contract.

According to the Prime Minister, the salary of the company's management should be a market salary, but not exorbitant, and bonuses should fully depend on the success of Naftogaz, in particular, on the fulfillment of plans to increase gas production and on the results of the integration of the Ukrainian gas transmission system into the European one.

As Ukrainian News Agency earlier reported, in May 2018, the Naftogaz’s supervisory board decided to allocate an award to the management of the company in the amount of USD 4.63 billion.

The first part of the rewards in the amount of USD 20.7 million (UAH 541 million) was to be paid in May.

This amount corresponds to 1% of the winnings already recognized in the financial statements of Naftogaz for 2017.

The remaining bonuses will be paid within three years only on condition that the remaining balance (USD 2.6 billion) is successfully collected from Gazprom.

Больше новостей о: Cabinet of Ministers Naftogaz

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