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Nepal Oil Corporation (NOC) Distributes Bonuses
By KTM Metro Reporter
July 20, 2010: the state-run oil company called Nepal Oil Corporation (NOC) has decided to distribute about Rs 200 million worth of bonuses to its employees from the profits made in the fiscal year 2008 although the company had made the billions of rupees worth of losses in that fiscal year according to the local news media. Each employee is supposed to receive the bonus amount equal to the salary for 17 months.
NOC has been increasing the prices of the petroleum products saying it is losing money. However, the decision of the company board on giving bonuses to its employees means the company is making money. So, the Madhav government has been lying to the people whenever it increases the prices of petroleum products saying the NOC is making losses.
Myrepublica.com reported that the Commission on Investigation into Abuse of Authority (CIAA) in its letter has told NOC not to enforce its decision on the distribution of bonus to its staffs until the next notice, and asked for all the documents concerning the bonus distribution for verification.
