Coefficients set for public sector pay in Karabakh

Coefficients set for public sector pay in Karabakh

STEPANAKERT, June 20. /ARKA/. Coefficients for public sector pay were set at a government meeting in Nagorno-Karabakh Republic (NKR), the press office of the government reported.

NKR’s minister of finance and economy Spartak Tevosyan said the minimum wages will be 50,000 drams in the country as from July 1. Ratios applied in Armenia were used, he said.

If the wages based on the new ratios is higher than the current salary, the latter will be maintained and increases of the previous years in certain fields will be leveled off, Tevosyan said.

The new system will be fully applied within five years and the existing differences will be eliminated along with rising minimum wages rise. The minister added the quality of works and services provided will be improved.  

About 650 million will be appropriated from the budget for 19,500 borrowers to do this, Tevosyan said.

The minister stressed the importance of salary increase in mitigating the social tense. Pensions were increased by 17.6% as from January 1 2014.

Harutiunyan said the new pay policy demands large funds and urged to aim at increasing budget receipts.

Salary increase rates should exceed price rise rates, he said adding a 10% pay increase is planned for 2015. ($1=409.90drams). –0-

13:59 20.06.2014

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