GIS - 30 December 2014: The Minister of Finance and Economic Development, Mr Seetanah Lutchmeenaraidoo, announced this morning during a press conference in Port Louis, an increase of 6 per cent to beneficiaries of social aid benefits.
Mr Lutchmeenaraidoo said that besides the 240 000 persons who have already benefitted from an increase in the basic old age pension, an additional 40 000 persons coming from 19 000 households who are recipients of social aid, will be granted an increase higher than the current rate of inflation which presently stands at 3,2%.
He underlined that normally the rate for social aid is being calculated on the basis of the consumer price index, adding that Government spends around Rs 950 million on social aid benefits annually.
He recalled that with these actions Government is fulfilling its promise to cater for the vulnerable segment of the society by increasing their purchasing power. According to him, social peace is sine qua non for economic development.
The Minister also pointed out that following fruitful discussions with the private sector the employers of the sugar cane industry have agreed to pay in toto an end of year bonus to their employees irrespective of the 8 days strike in the first week of December.
He also spoke on the priorities which are high on the Government’s agenda namely; job creation by making the Small and Medium Enterprises sector the backbone of the modern economy and empowering youths to contribute to the economic development of the country.
Minister Lutchmeenaraidoo concluded by highlighting the importance of transparency in every Government’s institutions and emphasised that each and every one should be accountable for every cent spent.
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