New Ordinance: Private companies will be obliged to distribute 5% of their annual profits to workers

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Lahore: The government has taken a major decision regarding the welfare of the employees of private limited companies. All private limited companies will be obliged to distribute 5% of their annual profits to the workers. Governor Punjab also formally approved the Workers’ Participation Amendment Ordinance 2020.

According to the ordinance approved by Governor Punjab Chaudhry Mohammad Sarwar, all private limited companies will be required to distribute 5% of the annual profit to the workers. Out of which, after individual payments, all the remaining amount will be bound to be deposited in the Private Limited Companies Workers Welfare Funds and this amount will be given only for the welfare of the workers in the residential colonies, schools, dispensaries and various other facilities. While Punjab Governor Chaudhry Muhammad Sarwar said that the government will ensure the safety of the employees of all private limited companies and any kind of injustice will not be tolerated and government agencies will take action against those responsible.