The government is set to formulate a national wage policy to ensure timely and fair wages for workers in both formal and informal sectors and also improve their living standards.
The Ministry of Labour and Employment has prepared an initial draft of the policy and is seeking recommendations from stakeholders to finalize it, officials said.
According to the preliminary draft, the key objectives of the national wage policy are to ensure economic and social equity for the working class.
The government has taken this step in line with its commitments under the constitution to protect the rights and ensure the well-being of working people, it also said.
The Labour Ministry has formed a tripartite committee headed by its Additional Secretary Md Towfiqul Arif to finalize the draft policy, incorporating the stakeholders’ recommendations, a ministry official said.
The committee held its first meeting last week, he added.
Other key objectives of the policy are to bring workers in all formal and informal sectors, including industries, factories, construction, agriculture and domestic work, under wage regulation, according to the initial draft.
The draft says it is to ensure wages correspond to productivity and prevent workers from being exploited.
Ministry sources said there are 44 sectors whose wages are recommended by the minimum wage board. However, there are still many sectors in the country that are not under any wage regulation.
The policy would reduce the possibility of workers being employed at unexpectedly low wages, as the government would take steps to implement minimum wages in all sectors, according to the initial draft.
The government is responsible for ensuring fair wages for workers in all sectors, as a fair wage policy would help to improve their livelihoods.
There is a link between social and economic targets, the draft said, adding that the social targets of the policy include ensuring minimum wages for workers employed in industries, improving the existing wage structure, fixing a wage ceiling and helping to increase export earnings.
The objectives include ensuring a sustainable real wage, revising wages in line with market prices, protecting workers from the rising cost of living and providing incentives to enhance productivity.
