News / National
Bill capping 'fat cat' salaries comes into force
18 Oct 2017 at 10:23hrs | Views
PARLIAMENT has passed a bill which seeks to cap the salary and perks for managers of government-owned entities and city council bosses.
In summary, the Public Entities Corporate Governance Bill outlines the role and functions of the Corporate Governance Unit within the Office of the President and Cabinet (OPC) as a centralised advisory, oversight and support system for line ministries with regard to the implementation of this Bill.
It will introduce some consistency in the conditions of service of members of boards of public entities. In particular, it will require members to enter into performance contracts with the government and will allow their salaries and allowances to be limited.
Similarly, it will regulate the conditions of service of chief executive officers and other senior staff members of public entities and will allow their remuneration to be limited.
It will give effect to the National Code on Corporate Governance Zimbabwe (Zimcode) to the extent that it applies to public entities.
In summary, the Public Entities Corporate Governance Bill outlines the role and functions of the Corporate Governance Unit within the Office of the President and Cabinet (OPC) as a centralised advisory, oversight and support system for line ministries with regard to the implementation of this Bill.
Similarly, it will regulate the conditions of service of chief executive officers and other senior staff members of public entities and will allow their remuneration to be limited.
It will give effect to the National Code on Corporate Governance Zimbabwe (Zimcode) to the extent that it applies to public entities.
Source - dailynews
