September 12, Colombo (LNW): Just days before Sri Lanka’s presidential election, Speaker Mahinda Yapa Abeywardena has signed off on a bill that raises the national minimum wage by 12.5 per cent.
The bill, titled the National Minimum Wage of Workers (Amendment) Bill, was formally endorsed on Wednesday, following its swift passage through Parliament.
The bill, which underwent a second reading in Parliament on September 3, was passed without any amendments or the need for a vote. The legislation, amending the National Minimum Wage Act of 2016, is now set to elevate the monthly minimum wage to 12,500 Sri Lankan rupees, up from the previous 10,000 rupees.
Similarly, the daily minimum wage will increase from 400 rupees to 500 rupees.
This wage increase is expected to benefit employees primarily within the private sector, giving a financial boost to low-wage workers who have long advocated for better compensation in a struggling economy.
Given the proximity of the wage hike to the upcoming presidential election, some analysts have speculated about its potential impact on the election’s outcome, as economic issues remain a central concern for voters.
Announcing the bill, the Speaker’s office emphasised that it had been approved in accordance with Article 79 of the Constitution, marking a significant legislative achievement.
The timing of the bill’s passage, however, is noteworthy, as it follows various economic reforms aimed at addressing the rising cost of living and unemployment across the island.
In recent years, Sri Lanka has faced mounting economic challenges, including high inflation, currency devaluation, and rising prices for essential goods, placing significant pressure on low-income workers.
