New Director’s Pay Policy Unveiled: What You Need to Know

The Cabinet has approved the Director’s Remuneration Policy for 2024. A statement from the Office of the Prime Minister indicated that this new policy is the result of a review of the 2009 Remuneration and Benefits Policy, which applies to directors of Government Commercial Companies and Commercial Statutory Authorities. The updated policy takes into account significant shifts in business dynamics and the broader business environment, which have led to increased accountability and responsibility for boards of directors. The new policy is effective immediately.