Salaries must be revealed

EDITOR — Your story in yesterday’s paper that the Office of the President and Cabinet (OPC) is seized with the issue of executive salaries in the public sector and local government is worrying.

It should publish all public sector salaries including those of quasi-governmental organisations, statutory bodies and State-owned enterprises.

That is the best practice which is also now being imposed on the private sector — mandatory financial disclosure as regards executive management and boards of directors remuneration, in particular for banks worldwide.

As was the case prior to the hyperinflationary era, non taxable allowances must be done away with and replaced with realistic market competitive taxable salaries.

A formula must be applied that takes into cognisance the lowest wage a particular institution pays, while (if my memory serves me well) the graphical plot of the logarithm to base (the natural log) of total cost to company or State against the employee’s grade ought at best to be a straight line.


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