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Tengrinews.kz – The Senate has approved the Convention on Minimum Wage, which takes into account the specific circumstances of developing countries. Under the new guidelines, the government will now be required to consider the economic situation and the actual needs of workers when determining the minimum wage.
Senator Asem Rakhmetova explained that when calculating the minimum wage (MW), the following factors will be considered:
- The needs of workers
- The cost of living
- The economic situation in the country
She noted that while the government will set the minimum wage, both workers' and employers' representatives should be involved in the process.
"The established minimum wage will be mandatory, and penalties will be applied for non-compliance. This approach ensures a balance between social justice and the economic justification of the minimum wage level," she said.
Senate Chairman Maulen Ashimbayev emphasized that the key innovation of the convention is the shift in focus from broad economic indicators to the actual needs of individuals – the workers.
"The convention stipulates that when determining the minimum wage, productivity, the median wage in the economy, and the workers' needs, including their standard of living and minimum standards in the country, should all be taken into account. This approach shifts the focus from macroeconomic indicators to the needs of the individual worker," Ashimbayev said.
Is the current MW low?
Maulen Ashimbayev also mentioned that the current minimum wage in Kazakhstan is 85,000 tenge, which is 30% of the median wage and 21% of the average wage in the country.
"The current minimum wage is quite low in our country. But it’s not about raising it to 100,000 tenge right away. This needs to be based on calculations to ensure that businesses and government agencies can afford it. We are talking about changing the conceptual approach, moving away from macroeconomic indicators and focusing on people's needs and their wages. That’s the essence of the convention," he concluded.
Earlier, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin was asked whether it’s time to revise the living wage and minimum wage due to rising prices. He responded that the government is constantly reviewing such indicators and acknowledged that prices have indeed risen in the country.
"I don’t think I could live on that salary, but the minimum wage is a calculated figure. It means no salary should fall below this threshold. It doesn’t mean that someone should only pay the minimum wage," Zhumangarin said.
