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Tuesday, July 25, 2006

August F$9 million payout for State workers

Civil servants will receive their 2% Cost of Living Adjustment (COLA) payout, estimated to cost the State F$9 million, in August. The ministries and departments have been asked to contribute funds not used in their budgets for the payout with the Agriculture Ministry alone contributing between F$2 million to F$3 million. The Commerce Ministry said they would be contributing a very substantial amount for the payout but did not reveal how much it would be. In an environment of rising interest rates, it would be an opportune time for such funds to be invested by those receiving them. Individuals and groups that need investment advice can use our company, Gilbert & Samuels Company Limited. Our contacts are : telephone +679 3396427 or e-mail gilbert@connect.com.fj.

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