Iran raises minimum wage by 11.6 percent
Azerbaijan , Baku, March 15 /Trend, A.Yusifzade /
Iran has raised minimum wage by 11.6 percent for the next Iranian calendar year, which begins March 21, 2011, Mehr News Agency reported quoting a member of the Iranian Supreme Labor Council Valiullah Salehi as saying.
According to Salehi, earlier Iran's High Labor Council has raised the minimum monthly wage by 9 percent to over $320 for the next Iranian year (March 21, 2011-March 20, 2012).
Presently Iran's monthly minimum wage approved by the Iranian High Council on Labor is about $303. The monthly minimum wage rated $263 previous year (March 21, 2009-March 20, 2010).
The rate is unacceptable to free-lance workers. This established rate is applicable to about 7.5 million workers.
The High Council on Labor is a tripartite council formed by members of government, employers, and employees.
Iran 's inflation rate continued its upward trend in February 2011, reaching 11.6 percent from 10.8 percent a month earlier, the Central Bank's deputy governor for economic affairs said, according to the ISNA news agency.