Wednesday, March 11, 2009

Pay cut for CEO, Management,Directors..of companies taking 'rakyat's RM60 billion'

RM60 Billion - a lot of money, but sadly a lot of it going to companies and businesses, and very little going to the rakyat directly.

Wonder whether conditions will be placed on these companies who receive these monies, like what Obama did in US?

Maybe, the government should fix the maximum Director allowance payable, and also the salary/allowance limits for the CEO and management staff.

It is absurd that these companies take the money of the people (duit rakyat) but still still continue getting exhorbitant salaries and large allowances, and other benefits. Pay rises of CEO and upper management should also be frozen, and not essential benefits and allowances should be done away with?

After all financial crisis is not a new thing - and it comes around every 10 years or so. Thus, if some companies have not put in place the required 'protection' for a rainy day, and now requires to take government money by reason of their lack of preparedness - then the people responsible being the Directors, CEO and Upper Management must also pay for their failings.

The government unveiled a RM60 billion stimulus package today as it attempts to arrest the export-driven economy's slide into recession.


The RM60 billion package will be implemented over two years up to 2010.- Malaysiakini, 10/3/2009, Najib unveils RM60bil stimulus package

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