EPS reacts to wage hike controversy

Serbian state-owned power company EPS says an announced raise of its employees’ salaries will not come from higher electricity bills.

Izvor: Beta

Friday, 15.01.2010.

09:57

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Serbian state-owned power company EPS says an announced raise of its employees’ salaries will not come from higher electricity bills. The agreements signed between the Serbian government and the worker unions of EPS, and Nikola Tesla Thermal power plant “have not raised employee salaries, nor the total salaries determined by the 2010 Business Plan”, the EPS public relations service told Tanjug on Thursday. EPS reacts to wage hike controversy EPS stressed that the said agreements defined the way in which a smaller portion of the company net profit, determined back in October 2009, will be distributed. The basic business premises determined at the time have not been changed to meet strikers' demands, the EPS points out. Those payments are not part of the salary, says the EPS, adding that the agreements pose no threat to the country's macroeconomic stability, nor do they go against government recommendations on salary levels in public companies Finance Minister Diana Dragutinovic announced that the EPS wage increases, which have been approved by the government, will be paid for from the profits made from increasing the price of electricity. Dragutinovic told the Jan. 14 edition of Belgrade-based Press tabloid that the government had approved an EPS wage increase of RSD 7,000 per paycheck and added that linking wages to profit was "the least poor solution". Serbia undertook an obligation to freeze salaries in the public sector as part of a stand-by loan arrangement with the IMF.

EPS reacts to wage hike controversy

EPS stressed that the said agreements defined the way in which a smaller portion of the company net profit, determined back in October 2009, will be distributed.

The basic business premises determined at the time have not been changed to meet strikers' demands, the EPS points out.

Those payments are not part of the salary, says the EPS, adding that the agreements pose no threat to the country's macroeconomic stability, nor do they go against government recommendations on salary levels in public companies

Finance Minister Diana Dragutinović announced that the EPS wage increases, which have been approved by the government, will be paid for from the profits made from increasing the price of electricity.

Dragutinović told the Jan. 14 edition of Belgrade-based Press tabloid that the government had approved an EPS wage increase of RSD 7,000 per paycheck and added that linking wages to profit was "the least poor solution".

Serbia undertook an obligation to freeze salaries in the public sector as part of a stand-by loan arrangement with the IMF.

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