Belize - Belize News - - Great Belize Productions - Belize Breaking News
Home » Economy, Social Issues » Minimum Wage Consultants Nearing Finalizing Document on Findings
Oct 31, 2022

Minimum Wage Consultants Nearing Finalizing Document on Findings

P.P.F. Capital Belize Limited was hired as consultants by the Government of Belize back in June to create a plan for the gradual implementation of the five dollar minimum wage. P.P.F. Capital is just about a week away from submitting the first draft of its findings to the task force which is being chaired by Cindy Thompson. Following the finalization of a monitoring, evaluating, and enforcement framework by the first week in December, the task force will deliberate and make its recommendation to Cabinet where the final decision rests. So, what has the data been showing up to this point? According to what Juan Ramirez, the Senior Analyst at P.P.F. Capital, shared with us today, the agriculture sector may be the least prepared for a minimum wage increase.


Juan Ramirez

Juan Ramirez, Senior Analyst, P.P.F. Capital

“The data isn’t pointing to one method of implementation over the other. What the data is pointing out so far is that some industries are currently more flexible than other s to manage a wage increase. So, some industries, particular agriculture, you have a lot of what you will call the low scale or semi-scaled work force that earn at the minimum wage or their about. And simply because of the structure of the agricultural industry, we are a small country in the agricultural marketplace globally, we don’t get to set price. So, we have to take the prices for banana, citrus, etc. And, given that some of these agricultural producers deal with contracts, you are tied into a three year contract where the price is set. So, kind of any increase in labor cost directly affects your margins and could make it in some cases not profitable to do business under the terms of whatever contract they have. So, some industries, some sectors are more flexible than others. That is what the data has pointed so far. WE are going to be able to make a recommendation based on the best interest of employers and employees across these industries.”


Cindy Thompson

Cindy Thompson, Chairperson, Minimum Wage Task Force

“We have been with the consultant through the process and we have been to the town halls and the views are similar as what was mentioned. There are these individuals that may not be able to afford the five dollars minimum wage. There might need to be a increase, a step by step process for some of the industries, while others are able to. We went to San Pedro and Placencia and they are already at five dollars.”

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

Advertise Here

Comments are closed