Wages and pensions to increase by 15 per cent from August 1 in Uzbekistan
Uzbekistan, Tashkent, July 6 / Trend D.Azizov /
In Uzbekistan, as from August 1, 2012, the wages of employees of budgetary institutions and organisations, pensions and social allowances and scholarships will be increased by an average of 15 per cent, in accordance with the Decree of President Islam Karimov, released on Friday.
According to the decree, from August 1, the minimum wage is set at 72,355 soums per month, while the minimum pension and allowances for the disabled from childhood is 141,520 soums. Benefits for the elderly and the disabled who do not have the required length of service are 86,835 soums per month.
All kinds of allowances and bonuses to wages, as well as pensions, benefits for mothers to care for a child under the age of two years, benefits for families with children, compensation and other payments set at the minimum wage, are to be made from August 1, 2012 from a minimum wage set by the decree.
The costs associated with an increase in wages of employees of budgetary institutions and organisations, pensions, allowances and scholarships are made through the budget of the republic and extra-budgetary Pension Fund under the Ministry of Finance.
Self-supporting associations, companies and organisations will produce wage increases in line with the minimum wage by increasing efficiency and reducing labour costs.
The previous increase in the minimum wage by an average of 10 per cent was held in Uzbekistan from December 1, 2011. Then the minimum wage was set at 62,920 soums per month, the minimum pension and benefits to disabled from childhood - 123.060 soums and benefits for the elderly and disabled citizens who do not have the required length of service - 75.510 soums per month.
The official exchange rate is 1888.64 soums to $1 on July 6.