Minimum wage advisory board has recommended MVR 6,400 to be the minimum wage in the Maldives.
Minister of Economic Development, Fayyaz Ismail has said that this suggestion has been forwarded to the parliament for discussion.
The Minister highlighted that to establish MVR 6,400 as minimum wage, it is important to determine if the employers have the capacity to do so. The minimum wage implemented currently was finalized by this board, he said.
Minister Fayyaz said International Labour Organization (ILO) advised to establish a minimum wage between MVR 6,000 and MVR 6,500 in Maldives.
“This may not be the most ideal amount but have to check the capacity of the employers to meet this wage. Micro and Small Businesses have expressed their concerns regarding the currently implemented minimum wage rate as well.” he was quoted saying.
He further expressed his concern that enforcing a minimum wage which companies are not able to meet may end the businesses in bankruptcy, thus eliminating the possibilities of employment opportunities for good.
