Economy, Domestic Economy
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Minimum Wage

Minimum WageMinimum Wage

The Supreme Labor Council on Sunday set the minimum monthly wage for the upcoming Iranian fiscal year (starting March 21) at 7.12 million rials ($254 based on the official exchange rate), which shows a 17% increase compared with the 6,089,100 rials ($229) in the current Iranian year, ISNA reported. Based on Iran’s labor law, the Supreme Labor Council – a body affiliated to the Ministry of Cooperatives, Labor and Social Affairs — sets the minimum wage for workers every year with regard to the official inflation rate. The Supreme Labor Council recently proposed that the minimum wage for workers should rise twice a year. There is no immediate report as to how the proposal is being followed through.

Financialtribune.com