The government will soon announce a salary adjustment for its workers to cushion them from the effects of galloping inflation.
This was revealed by the Minister of Finance and Economic Development, Mthuli Ncube.
Ncube also urged the private sector to follow suit and increase their employees’ wages as they are making huge profits.
He was speaking at the Daily News Breakfast Meeting on currency reforms on Monday in Harare. He said:
I am sure there are a few civil servants in here who are saying now that you have introduced the Zimbabwe dollar, how about our salaries?
We are going to deal with that in the next week or so, we are going to make an announcement in terms of a cushioning allowance for civil servants.
And industry can you please follow suit. Some of these companies have been making fantastic profits, you are looking after your shareholders but also look after the employees as well by adjusting their wages so that they can cope with the inflationary pressures.
Ncube, however, did not divulge how much the government will offer its workers. He said he already has a figure and will be waiting to hear what the Unions are expecting in a meeting to be held on Tuesday (today).
In April this year, the government awarded its workers a cost of living adjustment (COLA) which was roughly ZWL$29 per head which has since been eroded by inflation.
Professor Mthuli Ncube is the Minister of Finance and Economic Development.He was the Chief Economist and Vice President of the African Development Bank ,financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland and... Read More About Mthuli Ncube