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Two more bonuses for UBL employees announced

RECORDER REPORT

KARACHI: United Bank Limited (UBL) President Amar Zafar on Tuesday announced two bonuses for bank's employees. This is in addition to one bonus already announced by the bank.

All employees, who remained in regular service of the UBL during January-December 1999 for six months or more, would be entitled to the bonus. This also includes those who have either expired or retired but had put in more than six months service during 1999.

The employees who joined the UBL between June and December 1999 and could not complete six months but served the bank for three months or more, may be paid bonus on pro rata basis.

The UBL executives in officers Grade-III and above will be given two months' basic salary as bonus and the clerical and the non-clerical staff in scale one and above will be given one month's basic pay plus one month's gross salary as bonus.

Employees against whom disciplinary actions are pending due to involvement in case(s) of dishonesty or are under suspension and those who are un-authorisedly absent are ineligible for the bonus.

This bonus is a 'one off' bonus, i.e. it will not set a precedence for future. Such incentives will be linked to achievement of specific targets, which is a measure to promote performance-driven culture in the UBL, the management said.