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Largest Kazakhstan companies to increase salaries from April 2014

The CEO of ArcelorMittal Temirtau Vijay Mahadevan is meeting with personnel. ©ArcelorMittal Temirtau The CEO of ArcelorMittal Temirtau Vijay Mahadevan is meeting with personnel. ©ArcelorMittal Temirtau
KazZinc, ENRC and ArcelorMittal Temirtau will increase their employees' wagas by 10% starting from April 2014 because of the recent 20% tenge devaluation. The increase will cover only the workers involved in the actual production, not the office staff, Tengrinews reports citing the press-services of companies. "The company has decided to increase the wages industrial workers at all its Kazakhstan-based enterprises starting from April 1, 2014. The average increase will make 10%. The decision was made in pursuance of the instructions given by Kazakhstan President Nursultan Nazarbayev," ENRC said. KazZinc Chairman of the Board Nicola Popovic also promised to increase the salaries of the company's workers starting from April 2014. "Our company understands how important it is to support the governments social obligations to its citizens among the recent devaluation of national currency. The Government does its part by restraining prices of socially important goods from spiking using stabilization funds and setting ceiling price. And the business community of the country can and must play its part as well," Popovic pointed out. ArcelorMittal Temirtau supported the call of the President as well and promised to increase the salaries of its employees by 10% starting from April 1, 2014. "ArcelorMittal Temirtau is pleased to announce that it voluntarily increases wages of its employees by 10% starting from April 1, 2014, taking into consideration the call of the Kazakhstan President," General Director of ArcelorMittal Temirtau Vijay Mahadevan said during a meeting with the company's personnel. After Kazakhstan devalued it currency by nearly 20% in one step in February 11, President of Kazakhstan Nursultan Nazarbayev called large companies to raise salaries of their personnel, especially industrial workers, by 10%. "I herewith instruct Samruk-Kazyna Fund and the companies that are managed by the fund to provide a 10% increase of salaries for industrial workers starting from April 1, 2014. Only those involved in the actual production, not the office personnel should get the raise. (...) Yesterday I called the large (private) companies of Kazakhstan that work in mining and oil to consider raising their workers' wages by 10% as well. I hope that other companies, including our mid-sized businesses, will also support their employees," he added.

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