After allowance cuts, STO promises higher ‘incentive-based’ pay

The behemoth State Trading Organisation has promised higher salaries for its 1,000-strong workforce after changes to its pay structure.

The state-owned wholesaler announced a review of its pay structure in a press release Sunday shortly after local media reported that allowances and working hours will be reduced on October 21 as a cost-cutting measure.

“At present, STO’s pay structure is the same as the civil service and other government institutions and offices that were established to provide services to the public,” the company said.

“But as part of STO’s restructuring, the pay structure will become an incentive-based structure used by modern business companies. As such it has been decided that sales commissions and other allowances for achieving targets will be introduced and that the pay structure will be reformulated.”