OEM Energy Drink Production - Beverage ProductionVenezuela to increase minimum wage by 26.5 percent

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All You need for your Beverage Business Venezuela to increase minimum wage by 26.5 percent

2011-04-27 00:20:46 GMT+7 (ICT)

CARACAS, VENEZUELA (BNO NEWS) -- Venezuela's President Hugo Chavez on Tuesday announced an increase in the minimum wage by 26.5 percent, the state-run AVN news agency reported.

The rise will benefit public and private sector workers, retired people and members of the program "Mision Madres del Barrio." Under the new measure Venezuela's minimum wage will be 1,548 bolivares ($360) per month.

President Chavez said that the increase will be made in two stages. On May 1, a 15 percent increase will be added to the minimum salary. Later on September 1, an additional 10 percent will be added to the new wage.

Currently, Venezuelan workers earn a minimum 1,224 bolivares ($285). After the first stage, the salary will be increased to 1,407 bolivares ($327). Finally, the minimum amount that a worker will receive will stand at the targeted 1,548 bolivares ($360).

In addition, the government promised food tickets and other benefits as part of the minimum wage. The increase was made in order to "vindicate the working class," as said by Chavez.

The announcement was made during a council of ministers held in the Miraflores Presidential Palace, in Caracas. The measure is expected to benefit around 350,000 workers, over 2 million retired people and 98,000 mothers registered in the Madres del Barrio program.

The Venezuelan President added that the government allocated 5.7 billion bolivares ($1.33 billion) to increase the minimum wage this year. In the last 11 years, Venezuela has raised the minimum salary 12 times.

The most notable and last increase occurred in 2002 as the minimum wage rose by 20 percent. Chavez remarked that all private sector companies are obliged to comply with the increase and to provide benefits to all workers.

"Any company, even if it just has one worker, must pay the food ticket benefit. It is mandatory for all the companies: public and private," added the Venezuelan leader.

The minimum wage in Venezuela is the highest in America, according to Chavez. The Communist Party (PCV), the government's main ally, called for a bigger rise of no less than 40 percent.

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