Business

Companies Require Adequate Time Before Implementing Minimum Wage Policy – MATI & MACI

Maldives Association of Tourism Industry (MATI) and Maldives National Association of Construction Industry (MACI) stated that the companies require an adequate amount of time before implementing minimum wage policy.

This was stated by MATI and MACI in a panel discussion of the People’s Majlis Committee.

Board Member of MATI, Iyaz Waheed stated that new research shall be made to again decide on the amount for Minimum Wage due to the pandemic. He also stated if the Minimum wage Policy is implemented immediately, companies might have to suffer a loss, and hence, the companies shall be provided with an adequate amount of time to prepare for it.

He stressed that he is not speaking against the implementation of Minimum Wage, and is only concerned about the amount being decided and the time provided for the companies to prepare for minimum wage policy.

Board Member of MACI Abdul Muthalib stated if the minimum wage policy is implemented immediately some businesses might face bankruptcy which in turn initiates the consideration of providing time for it.

According to Muthalib, Infrastructure Companies will not face the negative consequences of the minimum wage policy if implemented during the year 2020.

Implementation of a Minimum Wage policy for the Employees in among the 100 presidential promises of President Ibrahim Mohamed Solih. However, several parties suggest that this is not the right time to implement the Minimum Wage policy.

Full details are available at the link below:

Source URL: Corporate Maldives

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