The Ministry of Higher Education, Labor, and Skills Development has opened the application process for individuals interested in joining the Minimum Wage Advisory Board, with a deadline set for March 25, before 2359hrs.
This decision comes as part of the ministry's efforts to reconstitute the minimum wage advisory board, aimed at overseeing employee performances across various sectors and providing recommendations to the minister regarding the established minimum wage.
The board is set to include representatives from the construction sector, female-led enterprises, small and medium-sized enterprises (SMEs), and trade unions, ensuring a diverse and inclusive perspective in its deliberations.
Since the introduction of the minimum wage in 2021, exceptions have been made for the smallest businesses. According to the Small and Medium Enterprises Act, a micro-enterprise is defined as one with a total annual income not exceeding USD 32,000 and a net profit below USD 4,800.
Initially set at USD 291.04 per month, the minimum wage applies to all private sector firms except significantly small enterprises. However, this same amount is applicable to small entities if their employees work actively for 8 hours a day, per month.