One of the country’s economic experts has suggested that government and other stakeholders should meet with companies to liaise how best they can keep jobs safe.
Professor Betchani Tchereni made the suggestions following fears of retrenchments after increasing minimum wage to K50,000 at a time when the country is struggling financially due to covid-19 pandemic.
“Yes indeed people’s jobs might be at risk as we both know how scrambled the country’s economy is at the moment due to covid-19,” he said.
“But I think government should meet with various stakeholders and discuss how best to move.”
Prof. Tchereni also highlighted the need for government to work on the high cost of living, a development which affects many people in the country.
New Minister of Finance Felix Mlusu presented a K722.4 billion provisional four-month budget were among other things it increased the tax threshold from K45,000 to K100,000 and increased minimum wage to K50,000 and indicated that farmers will be buying fertilizer at K4 495 per 50 kilogram bag.