June 16, 2022 – https://newsroom.gy/
After two years of discussing an increase in the minimum wage of private sector employees from G$44,200 to G$60,000, President Dr Irfaan Ali on Thursday evening announced that it has been approved by the cabinet. This increase to G$60,00 is approximately US$300 per month at the exchange rate of 200-1.
“Cabinet has agreed with the recommendation of the tripartite committee and that is, we are in support of the minimum wage, that is, the $60,000…” President Ali said while addressing the 74th commemoration of the Enmore Martyrs.
The minimum wage was increased to G$44,200 in 2017 from G$35,000.
In 2019, a National Tripartite Committee (NTC) that was tasked with several labour-related matters between the government and business sector proposed the $60,000 minimum increase in wages for people working with the private sector.
It was only in December 2021 that the Private Sector Commission (PSC) announced that the NTC recommended the $60,000 increase.
Businesses have complained of financial injury due to the COVID-19 pandemic and had asked for time before the adjustment could be implemented.
On Labour Day this year, the Federation of Independent Trade Unions (FITUG) and its affiliate, the Guyana Agricultural and Workers Union (GAWU), used the May Day rally to call for the immediate implementation of the $60,000 minimum wage.
President of FITUG Carvil Duncan had decried the delay in applying the increase, noting that the issue has now been compounded by an increase in the cost of living.
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What is the Guyana Minimum Wage in US dollars?
Guyana’s Minimum Wage is the lowest amount a worker can be legally paid for his work. Most countries have a nation-wide minimum wage that all workers must be paid.
The Guyana’s minimum wage is calculated monthly (21 days). At G$60.000 it works out at G$2,770 per 8 hour day= $13.85US/day = G$346.25/hour app = $1.73US/hour. These are approximate calculations based on a USA exchange rate of 200-1 Guyana dollar.
