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National minimum wage threat to new employment: MCCI
Increase of Public Sector wages at uniform rate and fixation of national minimum wages can be serious threats to the country’s efforts to create new employment opportunities. according to the Metropolitan Chamber of Commerce and Industry 1s (MCCI) monthly review Chamber News.
Expression the above fear, MCCI In a recent write-up pointed out that development experience of the last decade clearly proves that the countries determining wages through commission, executive flats etc. Ignoring productivity and capacity to pay ended up In economic predicament.
Even In Bangladesh, the last decade showed that arbitrary wages fixation ignoring capacity to pay. aggravated financial plight of the Public Sector and employment In the formal sec tor declined by three per cent per annum. The Public Sector, which accounts for about one third employment In the formal sector, had to cut back employment due to resource constraints. The Chamber urged the National Wages and Productivity Commission not to ignore these issues while finalising its recommendations.
The Chamber's review pointed out that ad-hoc wage increase In the public sector
during the last decade was a major factor for the financial plight of the public sector mills and factories and also of the national exchequer.
During the period between 1984 85 and 1990-91. the workers wages had been increased by 205 per cent in nominal terms and 25 per cent In real terms though during this period, the public sector incurred a total loss of Taka 2500 crores and the national exchequer had to extend subsidies to the extent of nearly Taka 3000 crores to the public sector.
The Chamber acknowledged the feeling of the public sector Industrial workers that they stand discriminated vis-a-vis the employees of the nationalised mills and factories who have already been given pay Increase by as much as 25 per cent to 68 per cent under the recommendations of the Pay Commission. Termtnlng such a feeling as not undue, the review, however, pointed out that manufacturing workers are better paid vis-a-vis the rest of the population
The real wages in the manufacturing sector have been increased by 4.4 per cent per annum during the last decade' while the per capita Income in real terms.
Increased by less than two per cent per annum. It show that the manufacturing workers not only adequately compensated notwithstanding their declined productivity, but are in a much better position vis-a-vis the rest of the population.
On the other hand, the Chamber argues that fixation of uniform minimum wages will cut across opportunities for new employment and will upset Industrial growth. Surely In a country, where about 15 million are already unemployed. the objectives of employment generation cannot be sacrificed for the betterment of one million people who are already fortunate In having been employed.
The Chamber stressed that genuine Interests and welfare of the public sector workers ought to be ensured, but the means for ensuring the same was throughout the world is collective barraging— negotiations between the workers and employers— which is also enshrined in our law. No Industry can sustain wages cost if wages are not linked to productivity and not based on capacity to pay. This principle is being increasingly accepted even in the former command economies.
Any enhancement of wages
without any consideration to low productivity or the ability to pay will be very costly. It will further cripple the public sector enterprises and worsen the burden on national exchequer. Instead, each public sector corporation should be authorised to determine wages for its enterprises through collective bargaining with the CBAs. This reasonable as the ability to absorb higher wages differs from one sector to another. For example. Oil and Gas sector may be able to absorb a higher wages as compared to jute and textile sectors, which suffer from low productivity and run the risk of unviabijity.
Similarly, instead of fixing national minimum wages, fixation of minimum wages sector-wise, which Is provided in the law. Ik more prudent as the capacity to absorb higher wages differs from sector to ' sector, the MCCI pointed out. It stated that the exercise, which Is done for this purpose at the level of the minimum wages board, has proved to be comprehensive and mutually acceptable. If necessary, more minimum wages boards may be constituted so that It becomes possible to review minimum wages of more than one industry at a time. '