AGO asked to probe PLN's management over bonus payment
Saturday, May 7 2005 - 02:53 AM WIB
Working Group for Power Sector Restructuring (WGPSR), a non-governmental organization, has called on the Attorney General's Office (AGO) to investigate the management of the state owned electricity company PLN for giving a hefty bonus to its board of directors and commissioners, Investor Daily reported on Saturday.
Fabby Tumiwa, WGPSR's chairman, said in Jakarta on Friday that the hefty bonus payment was quite strange because the bonus was given to the board of directors and commissioners when the company was still suffering serious financial problem.
PLN's shareholders meeting last year approved the management's proposal to give bonus totaling Rp 4.3 billion to directors and commissioners as rewards for the improvement of PLN's financial performance in 2003. PLN's president director, for example, received Rp 570 million bonus while finance director received Rp 520 million.
Fabby said that he could not understand why commissioners approved the bonus payment when the company was still under financial difficulty. "For their parts, commissioners should be also investigated," he added. (*)