The Commission for the Investigation of Abuse of Authority (CIAA) has directed the Nepal Oil Corporation (NOC) to stop distributing bonus to its employee,s reasoning that it was unlawful and unjustified for the body incurring continuous loss to do so.
The CIAA said this at a meeting of the Legislature-Parliament’s State Affairs Committee on Tuesday.
Today's State Affairs Committee (SAC) meeting also discussed whether or not the Rastriya Banijya Bank, which is making a loss of Rs 15 billion, could provide certain amount of bonus (up to 10 per cent) to its employees. However, the Bank made a profit of Rs 1.92 billion last year.
CIAA Secretary and some lawmakers said the Bank incurring loss for a long period should not provide bonus to its employees until it starts making cumulative profit and the decision to this should be given by the Finance Ministry as the matter was related to the competition in the banking sector and boosting of employees' morale.
Chairman of the Rastriya Banijya Bank Ram Prasad Adhikari informed the meeting that the bank was incurring a loss of Rs 11 billion.