The Privatization and Corporatization Board (PCB) has said that State Owned Enterprises and their subsidiaries should give gifts to their employees in connection with Ramadan without affecting the cash flow of the company.

In a circular signed by PCB President Hamdhee Ageek, it said every Muslim employee should be paid MVR 3,000 as a Ramadan allowance. Employees who work in more than one paid job should be paid the allowance from the place where the employee is working mainly.

The circular further states that employees on paid leave, no pay leave and scholarship leave will not be paid Ramadan allowance. However, if an employee on such leave returns to work during the month of Ramadan, the amount of Ramadan allowance will be paid to the employee from that date.

If the employees have been paid more or less than MVR 3,000 as Ramadan allowance, the portion will have to be adjusted from this month's salary, the circular said.

The PCB said that if gifts are given to employees in connection with Ramadan and the company is profitable, they should do so to the extent that it does not adversely affect cash flow. Some government-owned companies have given MVR 5,000 as Ramadan allowances and gifts.