RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of April 7, 1997 No. 3084

On regulation of compensation of the companies and organizations

For the purpose of salary adjustment depending on results of productive activity of the state companies and the organizations I decide:

1. Determine that at the state companies and in the organizations the pay level of work is determined depending on sales amounts of products, works and services.

To heads of the ministries, departments, state companies and organizations not to allow increase in salary fund in the sizes exceeding growth rates of sales amounts of products.

2. Determine that the profit, being at the command the state companies and the organizations, is aimed by them first of all at the development of production and improvement of working conditions of workers.

3. To the Ministry of Economics and finance of Turkmenistan to approve to the ministries and departments standard rates of profit distribution of the state companies and organizations for 1997 depending on industry features.

4. Enlist fund of accumulating of the state companies and organizations into separate special accounts in organizations of banks with the direction them on purpose.

To collect the fund of accumulating used not for purpose in the form of penalties in the income of the Government budget of Turkmenistan.

To impose control of target use of fund of accumulating on the Main state tax authorities of Turkmenistan, the Ministry of Economics and finance of Turkmenistan and the Central bank of Turkmenistan.

5. To joint-stock commercial banks to make issue of funds to the companies and organizations of all patterns of ownership for salary payment with simultaneous budget contribution of the taxes and payments withheld from the salary, assignments on the national social insurance and tax for excess of salary fund.

6. To the Ministry of Justice of Turkmenistan and the Ministry of Economics and finance of Turkmenistan to prepare and make offers on entering into the existing legal acts of the changes following from this resolution in the Cabinet of Ministers of Turkmenistan.

7 Declare invalid Item 3 of the resolution of the President of Turkmenistan of December 27, 1995 No. 2436 "About enhancement of wages system".

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