Cyprus Mail
Cyprus Energy

Government denies pay hike for SGO board members

File photo: Hydrocarbons exploration platform near Cyprus coast

By George Psyllides
The government on Saturday denied a report that it had decided to raise the remuneration of board members of semi-government organisations at an additional cost of €360,000 per year.
In its main front page story, daily Phileleftheros said the cabinet had approved a finance ministry proposal to raise SGO board members’ salaries from 2016.
The decision, according to Phileleftheros, meant an additional cost of €360,000 a year. The total cost for taxpayers will rise to €1.2mln.
Deputy government spokesman Victoras Papadopoulos denied the report.
He said the document published by the paper was a draft proposal that was never tabled before the cabinet.
However, Papadopoulos said, the cabinet had green-lighted a pay rise for the members of the hydrocarbons company because they put in many hours due to the lack of staff.
The cabinet has also authorised the finance minister to look into the SGO boards’ remunerations, Papadopoulos said.
The hydrocarbons company board members will be receiving €1,000 per month, Phileleftheros said.

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