23-11-2024 08:58 AM Jerusalem Timing

Economic Bodies Urge Private Sector against Wage Hike

Economic Bodies Urge Private Sector against Wage Hike

The head of the economic authorities former minister Adnan Kassar noted on Wednesday that the government’s decision to raise the minimum wage in Lebanon will create dangerous crises in the country.

The head of the economic authorities former minister Adnan Kassar noted on Wednesday that the government’s decision to raise the minimum wage in Lebanon will create dangerous crises in the country.

He urged during a press conference “the private sector institutions against applying the decision until it is revised.”

He explained that the decision does not take into consideration the economic growth rate in Lebanon and it will also create inflation and unemployment in the country.

Furthermore, Kassar stated that a comprehensive economic plan that achieves the rightful demands of workers and employers must be devised in a manner that would not create disputes between employee and employer.

The economic bodies had reached an agreement, after late night negotiations, to increase minimum wage by LL 200,000 to workers who earn between LL 1 and 1.5 million.

Kassar added: “The government decision does not take our concerns into consideration and it does not follow scientific and economic standards.”

“It violates the labor law and international laws that limit the role of the state in raising minimum wage,” he continued.

The government agreed to raise minimum wage to LL 700,000.