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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka mulls wage limits, industry forum

Sri Lanka mulls wage limits, industry forum

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CSE.SAS

CSE.SAS
Global Moderator

Sri Lanka is considering setting a minimum domestic wage and maximum expatriate wage for industries and also creating a forum for industrialists to air their grievances.

The proposals were revealed at a meeting with industrialists held organised by the ministry of industry & commerce as part of consultations in preparation for the government's budget for 2012 which is to be presented in November.

The proposed 'Industrial Forum' will be similar to the recently revived 'Exporter’s Forum', a ministry statement said.

The industrial forum could also function as an entry point for the higher level 'Exporters’ Forum.'

“Once it’s established, it may become the preliminary round before the Exporters’ Forum,” said Asitha Seneviratne, Additional Secretary, Ministry of Industry & Commerce.

The statement said the pre-budget consultation focused on various industry-specific issues, including "the need for minimum (for domestic) and maximum (for expatriate) wage structures for industries in the country."

It also included issues affecting small and medium enterprises such as availability of loans and other banking facilities for SMEs and 'TIEP' or Temporary Importation for Export Processing Scheme related issues like raw material imports.

http://lbo.lk/fullstory.php?nid=612316752

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