GIS - 09 December, 2015: The quantum of salary compensation for employees of both the public and private sector ranging from an increase of Rs 250 for those earning up to Rs 10 000 per month and Rs 150 for those above, was announced yesterday in Port Louis by the Minister of Finance and Economic Development, Mr Vishnu Lutchmeenaraidoo.
Minister Lutchmeenaraidoo, further said that this decision follows a special effort on behalf of the Government with particular attention to those at the lower rung of the social ladder, taking into account three main factors namely: the loss in the purchasing power, the rate of inflation which currently stands at 1.3% and job preservation. The private sector has also responded positively to bring relief to the most vulnerable citizens, he added. With this action, he further stated that Government reiterates its commitment to work against poverty and social inequality.
Some 262800 employees drawing up to Rs 10 000 monthly will thus benefit from a salary compensation of Rs 250.
This exercise as a whole will cost an amount of over Rs 1.8 billion for both the Public and Private sector that is around Rs 290 million for the Public sector and approximately Rs 1.5 billion for the Private sector.
It will be recalled that the quantum for the salary compensation has been fixed after various tripartite consultations comprising representatives of Government, Employers’ and Workers’ organisations.
Furthermore, the Government is committed to maintaining its efforts to keep inflation low and stable so as to protect the purchasing power of the population.
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