Business News

2024 Base Pay Talks: Government Proposes 15%, Labour Stands Ground at 60%-65%

Yesterday marked the start of 2023 base pay negotiations, as the government engaged with labor union representatives to discuss the base pay for 2024. In a crucial turn, the government’s initial 10% base pay increase offer has risen to 15%, aligning with projections of a 15% inflation decrease by the end of 2024.

On the labor side, the initial demand of 75.1% has shifted to a more practical range of 60%-65%. However, tension persists as unions firmly reject the government’s 15% proposal, insisting on the higher bracket.

As discussions concluded, a consensus proved elusive, leading to the rejection of the 15% offer. Further negotiations are scheduled for tomorrow, with hopes of bridging the gap and finding common ground.

Looking forward, the government remains optimistic about reaching a consensus during tomorrow’s discussions, given the urgency imposed by the looming Wednesday budget deadline. Both parties recognize the importance of finalizing base pay adjustments for budget incorporation.

The upcoming day holds the potential for resolution or continued contention, shaping the financial future for the workforce. Stay tuned for updates as the negotiation saga unfolds.

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