Salary freeze for Hong Kong's cash-strapped Urban Renewal Authority
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The authority confirmed to the Post on Sunday that it had made the decision after reviewing employees salaries, a process it carried out annually.
'After careful consideration, the URA has decided to freeze the salary levels for the 2025-26 financial year, while employees who met the specified performance standards will receive a performance based variable pay,' the authority said.
Salaries at the statutory body were last frozen in 2021-22.
The authority said its employees had been informed about the latest move.
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In February, Financial Secretary Paul Chan Mo-po announced the government would freeze civil servant pay and axe 10,000 positions as part of efforts to tackle the city's deficit, which was estimated at HK$87.2 billion (US$11.21 billion) at the time.
The announcement prompted many to question whether the city's myriad statutory and advisory bodies, as well as employers in the private sector, would follow suit.
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