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Maldives Association of Tourism industry (MATI) and Maldives National Association of Construction Industry (MNACI) say companies must be provided with time to prepare before the government implements the minimum wage bill.
Speaking at a parliamentary committee, board member of MATI Iyaz Waheed said the minimum wage set before COVID-19 must now be reevaluated following the pandemic. He further said companies will now face significant losses should the bill be implemented before companies prepare for minimum wage.
Stating that does not negate setting a minimum wage, Iyaz further said the amount must be reasonable for private companies to pay, and the companies must be given ample time to prepare for the bill to mitigate the economic impact of the bill. He said one year suggested by MATI earlier is a considerable period for businesses to prepare.
Board member of MNACI Abdul Muhthalib also accorded a similar rhetoric saying many companies will likely go bankrupt if the bill is implemented immediately without time for preparing for the bill. He said the construction industry will not be impacted should the bill be implemented in January 2022.
Setting a minimum wage is an electoral pledge of President Ibrahim Mohamed Solih. However, due to COVID-19 pandemic, Salaries and Wages Advisory Board has also suggested delaying the implementation of the bill.