‘Dwindling oil prices forced 20% salary cut’ – AKSG

Akwa Ibom State Government has said that the prevailing economic realities of dwindling revenues, caused by the crash in the global price of crude oil, necessitated the slashing of salaries of all political office holders by 20percent.

Secretary to Akwa Ibom State Government, Dr Emmanuel Ekuwem, explained that the salary cut was recommended to Governor Udom Emmanuel, by the State’s Post-COVID19 Economic Reconstruction Committee.

Ekuwem said the governor had two painful options to either continue to pay the current salaries for a while, which would not be sustainable, or spread the discomfort (20 percent cut) over a period of time pending the return of crude oil prices to normalcy.

He assured that the measures were temporary measures to keep the state alive, as full salary payment would resume once oil prices rebound.

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Source: SweetCrudeReports

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