TRNC Employers’ Union asks for minimum wage to be reviewed once a year

The Turkish Cypriot Employers’ Union (Kıbrıs Türk İşverenler Sendikası) submitted a list of demands to TRNC Minister of Economy and Energy Hasan Taçoy: set the minimum wage only once a year, introduce a separate minimum wage for workers from third countries, review taxes on imported work equipment, and provide businesses in difficulty with long-term loans for working capital.

The list was presented at a meeting between the union’s leadership and the minister, the Ministry of Economy and Energy of Northern Cyprus said.

Hasan Taçoy responded that the economy is only as strong as all its participants, and that problems affecting any one of them have an impact on the entire system. According to the minister, steps taken without considering global conditions and the country’s economic situation could end in disaster, so decisions must take all market participants into account.

The minister also stressed that taking measures and creating privileges are two different things, and that many more steps remain to be taken.

Taçoy promised to carefully review the employers’ demands alongside requests from other participants in the economy and submit them for consideration by the TRNC government.