GIS - 19 December 2014: A salary compensation of a standard amount of Rs 600 will be granted to all employees of both the public and private sector. This was announced yesterday in Port Louis, by the Minister of Finance and Economic Development, Mr Seetanah Lutchmeenaraidoo.
This exercise will cost an amount of Rs 4.2 billion for both the Public and Private sector that is Rs 1.3 billion for the Public sector and around Rs 2.9 billion for the Private sector, said Mr Lutchmeenaraidoo.
He also underlined that employees of the public sector will receive the outstanding amount of Rs 150 under the 2013 Pay Research Bureau report in addition to the 2015 salary compensation which adds up to a total of Rs 750.
For part-time employees, 6 per cent will be allocated to those drawing a basic salary up to Rs10 000 monthly and Rs 600 to those drawing above Rs10 000 monthly, added Mr Lutchmeenaraidoo.
He further pointed out that the quantum for salary compensation had been positively welcomed by the private sector after fruitful consultations between both parties whilst taking into consideration the actual rate of inflation which stands at 3,2%. The Minister of Finance underlined that in so doing Government is fulfilling its promise to cater for the vulnerable segment of the society by increasing their purchasing power.
Furthermore, the cabinet which met yesterday under the Chairmanship of the Prime Minister, Sir Anerood Jugnauth, GCSK, KCMG, QC, agreed to the introduction of the Additional Remuneration (2015) Bill in the National Assembly on 22 December. The Bill provides for the payment of an additional remuneration to employees of the private sector with effect from 01 January 2015.
Moreover, the Minister of Labour, Industrial Relations, Employment and Training, Mr Soodesh Satkam Callichurn, would immediately proceed with amendments to existing Remuneration Orders with a view to revising the minimum wages.
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