PNG set to retain millions

Papua New Guinea is set to retain around K200 million onshore with the recent government decision to endorse an increase in minimum wages, the Trade Union Congress said yesterday.

The general secretary John Paska in welcoming the National Executive Council decision to endorse the minimum wage board determination said this money could have otherwise gone off-shore.

The National Executive Council last Friday convened and endorsed the 2013/14 Minimum wage determination that was handed down by the minimum wages board.

"This has to be one of the sweetest achievements of my entire career in the union movement as I’m sure it is for minimum wage earners and workers.

"With respect to the retention of money on-shore, we calculate an amount of approximately K150 million and K200 million will be retained on-shore. This would otherwise have gone off-shore.

"Consider this as an investment which competes with other investments with regard to capturing money on shore. We reiterate, wages are not just about welfare concerns. They are fundamentally also about economics for all," he said.

"It is apparent the government knows what this is all about. It appears for the first time in a long while there is a government that understands wage economics. It is not about giving presents to one sector only as has been the case over the past 20..