Update on Salary Compensation

At its weekly meeting today, the Cabinet approved the recommendations made by the NPC. The Finance Minister stated it’ll cost more than Rs 3.5 billions to implement the recommendations. He’s is particularly concerned about the payment capacity of small enterprises who are facing fierce competitions and evolving challenges. Although he believes that some sectors can pay more than the recommended amount, he’s been all the time in favour of a compensation based on productivity and capacity to pay rather than on the only inflationary rate index.