The Maldives has introduced a minimum wage for the first time, starting at MVR 4,500 per month, or MVR 21.63 per hour.
In a ceremony held at Hotel Jen on Monday morning, Economic Minister Fayyaz Ismail signed the declaration on the minimum wage.
The government divided the minimum wage into four categories, with the minimum pay for small enterprises set at MVR 4,500, the minimum pay for medium businesses set at MVR 7,000, and the minimum wage for big businesses set at MVR 8,000.
Furthermore, the minimum pay for employees in the public sector has been established at MVR 7,000.
Fayyaz stated during the event that the Minimum Wage Advisory Board’s recommendations were sound, but the government was unable to set the minimum wage at the suggested rates owing to the economic ramifications of the COVID-19 pandemic.
The Minimum Salary Advisory Board suggested an hourly minimum wage of MVR 24.04 for small enterprises and MVR 42.79 for big enterprises, which the government cut to MVR 21.63 and MVR 38.46, respectively, while the minimum wage for medium businesses and the public sector remained at MVR 33.65.