Economy, Domestic Economy
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Raising Minimum Wage

Raising Minimum Wage  Raising Minimum Wage

The workers’ faction of the parliament has urged that the minimum wage for the next Iranian year (which starts on March 21, 2015) be raised to 16 million rials ($486 based on foreign exchange market rate). The group of lawmakers also suggested that the parliament must help employers accommodate new salary rates through allocating baskets of goods and coupons to workers, MNA reported on Tuesday. The minimum rate of workers’ salaries in Iran is currently around 6 million rials ($182 based on market rate). The number was raised to 10 million rials ($303 based on market rate) in the current year after the labor minister’s order. According to a report released by the Central Bank of Iran (CBI), the monthly cost of living in urban areas is estimated at 25 million rials ($759 based on market rate).

 

Financialtribune.com