New Democrat has gathered that the Ministry of Finance and Development Planning has commenced the implementation of President George Weah’s salary reform with the monthly income of some heads of public entities falling by 50 percent and more.
Amongst the hardest hit according to a document this paper has seen is Auditor General Yusador Gaye who is paid US$15,000 monthly with an estimated annual salary and benefits totaling US$268,975.92.
After the cut, the Auditor General and all officials in the US$15,000 pay bracket will be left with US$7,020 (before tax).
A whistleblower disclosed that the Auditor General’s annual income of US$268,975.92, is inclusive of monthly salary, housing allowance, fuel, scratch cards, Internet services, direct TV, and Vehicle; while the total annual compensations and benefits for the Deputy Auditor General for Administration was US$172,225.07.
The mass salary reform will hurt more, earners in the highest bracket. Top officials serving at various State Owned Enterprises and corporations, are paid salaries in the range of US$10,000 to US$30,000 per month, the New Democrat understands.
Individuals heading the National Social Security and Welfare Corporation, Liberia Maritime Authority, National Port Authority are in the $15,000 to $25,000 salary bracket.
At the National Oil company of Liberia (NOCAL), the Chief Operating Officer earns more than US$19,000 monthly excluding benefits.
The Executive Governor of the Central Bank of Liberia earns around US$19,000 monthly, which makes him a higher earner than the US Fed Chief. Deputy Governors are paid US$10,000 excluding benefits.
President Weah on April 25, ordered that effective fiscal year 2018/19, which commences 1 July this year, all heads of government ministries and agencies, state owned enterprises and autonomous agencies will not earn above US$7,800 as gross monthly salary and benefits.
The US$7,800 salary ceiling will be further subjected to a 10 % deduction. This means earners at this level will be left with $7,020 with a possibility of income tax deduction. Officials in the Executive earning between US$2,500 to 7,000 will face a 7.5% salary cut, while those with salaries ranging from US$1,000 to 1,500 will experience a 3.5% reduction.
– Festus Poquie