2003News

Private sector cannot raise minimum wage

Virgilio Ortega Nadal, president of the private-sector body called the Confederaci?n Patronal or COPARDOM, told El Caribe that the unions? demand for a 50% rise in the minimum wage could not be shouldered by the private sector under current circumstances. Any increase in salaries would only result in more staff dismissals or business closures, said Ortega Nadal, although he recognized an increase in people?s purchasing power would benefit the economy. He also conceded that certain sectors that receive their income in dollars, such as the free trade zones and tourism industry, could be the exception. Hoy reports that Labor Minister Milton Ray Guevara voiced similar sentiments in his meeting with trade union leaders at the National Palace yesterday.