Uzbekistan increases wages and pensions
Uzbekistan, Tashkent, Aug.1 / Trend, D.Azizov /
From Aug.1, 2012, wages and pensions are increased by an average of 15 percent in Uzbekistan in accordance with the Uzbek President Islam Karimov's decree, signed in early July.
According to the decree, from Aug.1, the minimum wage is set at 72,355 sums per month, while the minimum pension and allowances for the disabled from childhood is 141,520 sums. Benefits for the elderly and the disabled who do not have the required length of service are 86,835 sums 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 determined from Aug.1, 2012 in accordance with indicated amount of minimum wage.
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 non-budget 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 Dec.1, 2011. Then the minimum wage was set at 62,920 sums per month, the minimum pension and benefits to disabled from childhood - 123,060 sums and benefits for the elderly and disabled citizens who do not have the required length of service - 75,510 sums per month.
The official exchange rate is 1904.90 soums to $1 on Aug.1