Bahrain’s Arab Shipbuilding and Repair Yard (Asry) has initiated a company-wide monthly salary increase, which came into effect from January 1 this year.

All staff has received at least a three per cent salary increase, with many receiving more than 3 per cent due to a BD15 ($39.5) minimum increase, reported the Gulf Daily News, our sister publication.

The increase is part of a package of new employee incentives that were approved by the board to further improve the standard of living of Asry employees and to boost morale and show gratitude for the hard work demonstrated throughout the organisation, chairman Shaikh Daij bin Salman Al Khalifa said.

The company's contribution towards the Saving Fund has also increased up to 4 per cent.

"This increase will cost the company about BD50,000 per year," Asry chief executive Nils Kristian Berge said.

The board also increased the "Ramadan Basket" from BD40 to BD50, and the "School Bag" contribution from BD12 to BD15.

The minimum increase limit was raised this year so that employees with remuneration at the lower end of the spectrum receive a greater increase, proportionally.

Berge said the incentives were part of the company's endeavours to further enhance and improve the excellent conditions of all company workers and employees through the adjustment of salaries and standard of living. – TradeArabia News Service