Workers in the informal sector are now earning an additional $48 weekly following the recent implementation of a new minimum wage, according to Agni Deo Singh, the Minister for Employment, Productivity, and Industrial Relations. This increase is expected to enhance purchasing power among these workers, who traditionally face inconsistent earnings.
Mr. Singh emphasized the significance of the new minimum wage, stating that it acts as a vital safety net, providing more financial stability for those in the informal sector. The new wage, which has increased from $4, enables workers to better meet their basic needs and is anticipated to stimulate local economies.
He also highlighted that this measure recognizes the contributions of informal sector workers, asserting that their efforts deserve fair compensation. The Ministry has put in place various mechanisms to guarantee compliance with the new wage regulations, including regular inspections by labor inspectors aimed at monitoring employers and verifying that workers receive their intended wages.
Additionally, the Ministry is taking a strict stance against non-compliant employers, with plans to prosecute those who do not adhere to the minimum wage laws. Over 100,000 workers are estimated to benefit from this adjustment.
Earlier announcements by Mr. Singh indicate the government’s commitment to ensuring fair wages for all workers, including the new compliance measures and the upcoming second phase of the minimum wage increase, scheduled to roll out on April 1, 2025. This progressive approach not only aims to support workers but also seeks to stimulate economic growth by promoting the consumption capacity of low-income earners.
The positive developments in wages for informal sector workers could contribute significantly to both their livelihoods and the overall economy, fostering a more stable and prosperous community.
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