HONG KONG, Dec 12: Hong Kong plans to raise the city’s minimum wage to HK$30 ($3.87) an hour, a minister said on Wednesday, in a hike slammed by labour groups as inadequate for the Asian financial hub.

Labour minister Matthew Cheung said the raise represents a 7.1 per cent increase from the HK$28 pay per hour at present, which was introduced in May last year partly to tackle a widening income gap between the rich and poor.

“(The new rate) will be effective from May 1 next year if it is approved by the legislative council,” Cheung told reporters, adding that around 320,000 workers are expected to benefit from the adjustment. Critics, however, said the raise was too small to cover inflation and the high cost of living in Hong Kong, which is one of the world’s most expensive city to live in with its sky-high property prices.

“We are not satisfied with the government proposal and think the hike is unreasonable,” Labour Party chairman Lee Cheuk-yan said. The city introduced the controversial pay floor for the first time last year after fierce opposition from employers. —AFP

More From This Section

Poverty index launched

A multi-dimensional poverty index based on global MPI methodology for calculating poverty was launched on Thursday.

Local drugmakers cashing in on MNCs’ departure

Some seven local pharmaceuticals have already inititated projects costing Rs3 billion to Rs5bn in the last 2-3 years.

Sindh announces sales tax amnesty

Sindh Revenue Board's amnesty scheme comes into immediate effect for citizens who have so far failed to pay sales tax.

C/A deficit rises to $2bn

The current account deficit has risen for the third consecutive quarter (Jan-March) of this fiscal year.


Comments are closed.
Explore: Indian elections 2014
Explore: Indian elections 2014
How much do you know about Indian Elections?
How much do you know about Indian Elections?
Cartoons
E-PAPER
Front Page