Minister of Economic Development has said that the establishment of minimum wage in the Maldives could affect the country’s economy. He made the remarks at the ceremony held on Tuesday to mark the 100th anniversary of International Labour Organization (ILO).
Economic Minister Fayyaz said that the government is working to establish a minimum wage that both employers and employees will be happy with.
“There is no doubt that the establishment of minimum wage will affect the country’s economy somewhat. However, the he future of the country must be based on the practices followed by the rest of the world and this is something that the citizens of Maldives wants. We are trying to establish a minimum wage that is agreeable to both employers and employees with the assistance of ILO and the Salaries and Wages Advisory Board,” said Minister Fayyaz.
The Economic Minister assured that the Salaries and Wages Advisory Board will not be influenced or pressured in any way and that the government intends to seek the counsel of the parliament before reaching a decision.
Under efforts to establish minimum wage in the Maldives, President Ibrahim Mohamed Solih established a minimum wage advisory board earlier this year. The board has conducted a broad enterprise survey to collect data, and has obtained all relevant data from the entities.