Business / Economy
Zimbabwean Mine Workers Demand Cost of Living Adjustments Amid Economic Crisis
16 Oct 2024 at 17:03hrs | Views
Harare, Zimbabwe - The National Employment Council for the mining industry has received a petition calling for immediate cost of living adjustments to mine workers' salaries. The plea comes in response to the ongoing devaluation of the Zimbabwean currency, ZiG, which has significantly eroded workers' purchasing power.
In a letter dated October 8, Justice Chinhema, General Secretary of the Zimbabwe Diamond and Allied Mineral Workers Union, addressed the NEC, highlighting the dire financial situation of mine workers. He emphasized that the rapid inflation has made it increasingly difficult for workers to meet their basic needs.
"We urge you to convene an emergency meeting of NEC parties to discuss the implementation of a Cost of Living Adjustment (COLA)," Chinhema wrote. "This is crucial to protect mine workers from the devastating effects of currency devaluation and the exorbitant price hikes on essential goods and services."
The union is demanding a US$200 across-the-board COLA to offset the losses incurred due to the weakening of the Zimbabwean dollar. Chinhema stressed the importance of these adjustments in maintaining workers' morale, preventing labor disputes, and ensuring the stability of mining operations.
Chinhema pointed out that the recent exchange rate adjustments by the Reserve Bank of Zimbabwe have further exacerbated the situation for mine workers, whose salaries were already below the poverty line. He proposed quarterly salary reviews and a 90% USD component in salaries to safeguard workers' earnings from future currency fluctuations.
The union is calling for a swift response to this urgent matter, emphasizing the need to provide immediate relief to the hardworking mine workers who have been disproportionately affected by the economic crisis.
In a letter dated October 8, Justice Chinhema, General Secretary of the Zimbabwe Diamond and Allied Mineral Workers Union, addressed the NEC, highlighting the dire financial situation of mine workers. He emphasized that the rapid inflation has made it increasingly difficult for workers to meet their basic needs.
"We urge you to convene an emergency meeting of NEC parties to discuss the implementation of a Cost of Living Adjustment (COLA)," Chinhema wrote. "This is crucial to protect mine workers from the devastating effects of currency devaluation and the exorbitant price hikes on essential goods and services."
Chinhema pointed out that the recent exchange rate adjustments by the Reserve Bank of Zimbabwe have further exacerbated the situation for mine workers, whose salaries were already below the poverty line. He proposed quarterly salary reviews and a 90% USD component in salaries to safeguard workers' earnings from future currency fluctuations.
The union is calling for a swift response to this urgent matter, emphasizing the need to provide immediate relief to the hardworking mine workers who have been disproportionately affected by the economic crisis.
Source - Byo24News
