The Hong Kong Monetary Authority (HKMA) announced on Thursday March 27 that the pay adjustments for staff of the HKMA would take effect in April 2003. The changes include a further reduction of just over 5% in fixed pay for Chief Executive Joseph Yam.
The adjustments have been determined by the Exchange Fund Advisory Committee (EFAC) on the recommendations of the EFAC Remuneration and Finance Sub-Committee following its annual review of HKMA pay.
For staff at the level of Division
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