Voltamp Energy launches Employee Welfare Fund

13/10/2014 05:24 AST

Taking corporate goodwill toward employees a notch higher, Voltamp Energy has formally launched an Employee Welfare Fund, which had been approved by the group's board of directors at a previous meeting.

The employees have elected Yahyabin Nasser Al Balushi (Supervisor, Core Assembly - VPL) as the first president of the fund at a function held at its corporate office in Rusayl.

On the occasion, employees appreciated and thanked Voltamp chairman Qais Al Yousef, and board members for their support to the Voltamp staff.

Eng. Hassan Mohamed Abdwani, chief executive officer of Voltamp, said, "This welfare scheme will be of immense benefit to the employees. Ensuring a worry-free life for all of our employees is one of the highest priorities of the Voltamp management and board. The fund is a proactive step to support its employees. An atmosphere of respect, teamwork and shared responsibility will take the company to the acme of success."

The welfare scheme was developed in line with the directives of Dr Ali bin Masoud Al Sunaidi, minister of commerce and industry, to the private sector industries to support their employees. The board in its previous meeting approved an annual contribution.

It was also decided to open a separate bank account for the Welfare Fund. The chief executive officer has been mandated with the issuance of the terms and conditions of the fund, and any changes deemed necessary. The fund will be managed independently by the employees without interference from the company management.

Mr Yahya said, "The employees of Voltamp now have an internal fund to support themselves. This will help strengthen the spirit of mutual cooperation and brotherhood among employees, and encourage them to achieve the goals set by the company."

The fund will be managed by a committee of six elected employees who have been tasked with the responsibility of evaluating the applications for financial grant according to merit and seniority.

Voltamp Energy, a public company incorporated in the Sultanate of Oman, is a manufacturer of a diverse range of power and distribution transformers, low voltage switchgears and package sub-stations. The group has four manufacturing units located in Rusayl and Sohar, Oman. It also undertakes repairs and refurbishment of complete range of Transformers. Its shares are listed on the Muscat Stock Exchange.

Times of Oman