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| Sunday, 27 March 2005 |
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Business |
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News Business Features
Editorial
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J-BIZ appeals to govt
The Joint Business Forum (J-BIZ) has appealed to the government not to intervene with the determination of private sector wages as this will have a serious repercussion on the economy. The J-BIZ represents nine chambers in the country. According to a spokesman for J-BIZ the open economy was introduced to the country in 1979 and since then successive governments did not intervene with private sector wages. They only appeal to the private sector to increase wages. This did not mean that the private sector did not increase wages since 1979. He said that in year 2000 the government intervened in determining private sector wages under emergency regulations and it had serious repercussions. At that time the salaries were increased by Rs 400. Therefore we call upon the government not to increase the employers' cost as it will have a serious repercussion on the economy. (SG)
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