Wages must be productivity-related in the long run, says NDIC head - News.MN

Wages must be productivity-related in the long run, says NDIC head

Old News! Published on: 2010.05.04

Wages must be productivity-related in the long run, says NDIC head

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Chairman of the
National Development and Innovation Committee Ch. Khashchuluun feels that
prices having risen 20% since 2008, the wage increase was inevitable but he has
tressed the need for steps to see that a 30% rise does not lead to inflation.
The ultimate goal is to improve productivity and industrial capacity by using
modern technology which requires substantial investments.

This, however,
applies only to industrial labor. The norms for determining the wage level of
public servants and employees in other social sectors are different and should
reflect the average wages in the overall economy and average national
productivity. 

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