Monrovia — Staffers at the Liberia Electricity Corporation (LEC) will this June, begin to endure a 30 percent slash in their salaries due to financial constraints as a result of losses caused by power theft, the management has disclosed.
LEC in a memo to its staff stated that the situation has placed the entity in a state of challenge to address key financial problems to include the payment of incentives, among others.
LEC further maintained that until the situation can be improved, the cut will affect all salary disbursements.
"This situation will continue with all subsequent salary disbursement until there is an improvement in the financial state of LEC.
However, the LEC also clarified, that the reduction is not persistent, on grounds that the remaining 30 percent balance salary will be paid to all staffs only, when the future financial state of LEC is improved.
Hailing workers for their commitment and dedication, the LEC in the communication said: " Please note, this exercise is not a salary reduction, but a necessary course of action by the LEC at this point, due to the current cashflow state of LEC.
In May of this year, when the Liberia Electricity Regulatory Commission handed out six separate licenses to its management, the LEC through its Chief Operation Officer Prish Govender said though it has huge growth in customer base in the energy sector, commercial loses and constraints in connecting all customers are posing major challenges that effect the financial sustainability of LEC.
Govender added that the customer growth was supported by the transmitter and distribution system, as well as the generation space of the Mt. Coffee Hydro Power station and the Bushrod Island station.
However, he asserted that despite the constraints, the future is bright.
"With all those challenges, the future remains very positive with the support of the Liberian Government and the support of our consumers based," he said.