GIS – 06 December 2018: A salary compensation of Rs 400 across the board will be paid to employees of the public and private sectors and the old age pension will be increased from Rs 5,810 to Rs 6,210 as from January 2019, announced today the Prime Minister, Minister of Home Affairs, External Communications and National Development Unit, Minister of Finance and Economic Development, Mr Pravind Kumar Jugnauth at a press conference at the end of the tripartite meeting held in the Lunch Room of the National Assembly in Port Louis.
Several ministers, representatives of trade unions and captains of the private sector as well as representatives of employers attended the meeting which was chaired by the Prime Minister. The objective of the meeting was to determine through consensus the quantum to be allocated as salary compensation.
Prime Minister Jugnauth underlined that this decision is in line with Government’s commitment to cater for vulnerable people who are at the lower rung of the social ladder and thereby compensating their purchasing power. He further stated discussions with stakeholders were conducted in a fairly manner to fix the
quantum for salary compensation whilst taking into consideration the actual rate of inflation which stands at 3,3%.
The total cost for the salary remuneration is estimated at around Rs 540 million for the public sector which is targeting some 104, 000 employees. As for the private sector, the cost is expected at approximately Rs 1,8 billion for some 359,000 employees.