Economic Minister chimes ‘new hope’ on Minimum-Wage

Minister of Economic Development Fayyaz Ismail | Photo:

Maldives Minister of Economic Development Fayyaz Ismail has once again hinted towards announcing the minimum wage policy.

The cabinet minister sounded hopeful during his speech at Maldives Polytechnic during the convocation ceremony on Tuesday evening, 13 July.

Speaking about the issue of minimum wage in Maldives, Minister Fayyaz made emphasis on the underlying challenges of enacting such a policy. He also pointed out towards the current global economic regression in light of the Covid-19 pandemic, which had acted as a deterrent on several prospective economic strides.

However, according to the minister the much anticipated policy will be officially announced in the upcoming week though a date has yet to be confirmed.

Moreover, Minister Fayyaz had stressed over the possibilities of the first minimum wage policy facing polarizing reviews and comments while sounding cathartic on future improvements and amendments of the policy.

Earlier, it was confirmed by the minister himself on formally implementing the minimum wage policy before the end of 2021. Minister made the affirmation back in May, after which many had speculated the possibility of state’s pledge being fulfilled before the year’s end.

Implementing a standard minimum wage policy in the Maldives had remained as a key campaign pledge of the incumbent head of state; Ibrahim Mohamed Solih back in 2018.

Furthermore, it was reported that the special committee for minimum wage policy had advised an amount between MVR6,400 to MVR8,000 as the lowest standard salary; or ‘minimum wage.’