Responsibilities too heavy to cut salaries of GLC CEOs and Chairmen

Datuk Kong Cho Ha, the deputy finance minister said that the government will not be implementing any pay cuts including allowances for chairmen and CEOs of GLCs (Government Link companies) in light of the economic downturn. He said "If their responsibilities are not discharged well or targets are not met due to their weaknesses and inabilities then shareholders and the board of directors of GLCs can take appropriate action on them. The reduction in salaries and allowances based on something that had nothing to do with their performances or something out of their control was not fair and could adversely affect the performances of the companies in the long run. The quantums given were in line with skills, heavy responsibilities as well as high standards set by the shareholders and board of directors.”