Posted: Thursday, February 18, 2021. 4:32 pm CST.
By BBN Staff: During the cabinet meeting on Wednesday, Government made a decision to slash stipends paid to board members of public utility companies and statutory bodies by 50%.
Other cost-saving measures include the slashing of budgets for each ministry by 15%.
The 50% cut in allowances will affect non-executive board members/directors of public utility companies and statutory bodies such as Development Finance Corporation, Belize Telemedia Limited, Belize Water Services Limited and Belize Electricity Limited.
Usually, non-executive members on such bodies are Heads of Department or Chief Executive Officer’s and as such already receive a government salary. The stipend and allowances are provided for their position on the board, but is in addition to the salary they already receive from government. Some directors however, are from the private sector, and
Reliable sources have also shared with BBN that the Ministry of Finance has requested that budget submissions from the various Ministries reflect a 15% cut from what was budgeted in this year.
In many instances, the budget of many Ministries is allocated at between 70-80% for salaries and personnel related expenses, and 20-30% for materials, supplies and other operational costs.
A 15% reduction in the proposed budget may indicate that there will be some level of cuts in staff. It is likely that contracts may not be renewed for staff members when those contracts expire. In addition, there may be no replacement for staff members who retire or are terminated.
While the wage and increment freeze remain in effect for the public service, there is no indication so far as to whether the Briceno government will implement a salary cut for public officers and teachers.
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