FCEF calls for caution on minimum wage approach

May 17, 2024 2:39 pm

[ Source : Supplied ]

The Fiji Commerce and Employers Federation is concerned about the mounting pressures employers face in a challenging business environment.

However, they acknowledge the statement made by Minister for Finance Professor Biman Prasad in recognizing the importance of considering all perspectives including the employers’ views on the minimum wage rate proposal.

FCEF President Vinay Narsey had a productive discussion on employment relations and acknowledged the efforts of the Employment Minister Agni Deo Singh.

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Narsey says that many enterprises especially Micro, Small and Medium enterprises are already on tight profit margins and potential cost increases may force job cuts and threaten closure.

He expressed support for the government’s consultative process and looks forward to developing a comprehensive strategy that promotes fair wages while safeguarding business interests.

FCEF supports aligning industry-specific Wage Councils with vital economic sectors including unrepresented areas like food and beverage.

The Federation believes this will enable tailored, sustainable regulations reflective of each industry’s distinct circumstances.

Narsey adds that FCEF is committed to collaboration and calls upon all stakeholders to recognize the business’s critical role in development and prosperity.