KARACHI, Nov 5: The management of Pakistan Steel has decided to give bonus, equal to one basic pay, to the employees before the forthcoming Eidul Fitr. An announcement to this effect was made by Chairman, Pakistan Steel, Lt-Gen (Retd) Abdul Qayyum, on Thursday at a ceremony held at the PS.

The function was organized to distribute Rs20.15 million Workers' Participation Fund (WPF) for the year 2003-04 among the low-paid employees. The WPF was distributed at the rate of Rs6,872 to a total of 3,084 workers, including 2,766 daily wagers.

The first bonus was paid in early August this year, it said. All regular employees who were drawing on average Rs5,000 or less per month, including basic pay and allowances, and had completed six months of their service form July 1, 2003, to June 30 were declared eligible.

While all those workers whose wages were on average Rs5000 or less per month and who had worked for at least six months during the year also benefited from the fund. Lt-Gen. (Retd) Abdul Qayyum since assuming charge as the chairman about one year before has also increased the wages of the daily wage workers twice by 15 per cent each time. -APP