HARARE (Reuters) - President Robert Mugabes government has slashed pay and perks for managers of Zimbabwes state-owned firms, in a bid to ease public anger over fat cat executive salaries, the countrys finance minister said on Wednesday. Finance Minister Patrick Chinamasa said Mugabes cabinet on Tuesday agreed to cap the salary and perks for managers of government-owned entities and city council bosses at a total of $72,000 a year. That would be a huge cut for some executives, who were raking in up to half a million a year. Newspaper accounts of their pay had sparked outrage in cash-strapped and deeply impoverished Zimbabwe, where the average government employee makes $370 a month. In the public eye, these exorbitant salaries and allowances are not only corrupt but also obscene, Chinamasa said in a statement. The publics outrage is justified. A list of salaries of all 180 state-owned firms and city and town councils provided by Chinamasa showed many managers were evading tax by taking lower basic pay but exorbitant benefits, which were not taxed.
Posted on: Wed, 19 Mar 2014 09:04:54 +0000
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