Minimum wage to increase by 40% across all industries

Wednesday, 27 March 2024 02:59 - - {{hitsCtrl.values.hits}}

Minimum monthly wage up by Rs. 5,000 to Rs. 17,500; minimum daily wage up from Rs. 200 to Rs. 700

The Cabinet of Ministers has approved amendments to the National Minimum Wage of Workers Act No. 03 of 2016, signalling upward revision of monthly and daily wages for workers across all industries.

The move aims to address concerns regarding the adequacy of wages to meet the rising cost of living and to ensure a fair and just compensation for the labour force across various sectors of the economy.

“According to the approved amendments, the minimum monthly wage will be increased by Rs. 5,000 to Rs. 17,500, whilst the minimum daily wage for workers will be increased from Rs. 200 to Rs. 700,” Cabinet Co-Spokesman and Minister Bandula Gunawardena said at the post-Cabinet meeting media briefing held yesterday.

At present the minimum monthly wage is Rs. 12,500 and minimum daily wage is Rs. 500.

He also said the decision follows recommendations put forth by a tripartite sub-committee representing trade unions, Small- and Medium-Sized Enterprises (SMEs) and employees, as appointed by the National Labour Advisory Council.”

The proposal was tabled by Labour and Foreign Employment Minister Manusha Nanayakkara and approved by the Cabinet of Ministers on Monday.