Law limiting wages of managers in public companies takes effect today

The new law about wages in state-owned enterprises has come into effect today. It refers to the companies the Treasury Ministry owns not less than 50% of shares in. The highest wage level is reserved for the managers of companies, governmental agencies and funds. They can earn up to zl. 12,060 gross per month, which is six times the average in public enterprises during the last three months. Supervisory Board members can earn only zl. 2,010, which is equivalent to an average monthly wage. The aim of the new law is to eliminate all possibility of managers raising their wage. They can not participate in the company's profit or take monetary awards. Annual bonuses for managers is to depend on the company's financial results. It can not exceed three months the persons salary. Also, according to the new regulations, membership on more than one supervisory board is not permitted. The new law allows the Prime Minister to make a list of branches or organizations of special importance. The wages there could be 50% higher but no such list has been drawn up yet. (Rzeczpospolita, page A3) A.D.