Wage and transport stipend hike approved for private sector
Caretaker Labor Minister Mustafa Bayram announced Friday that it has been decided to approve a hike of an LBP 1.9 million on the wages of the private sector and to increase the transportation allowance from LBP 95,000 to LBP 125,000.
The decision was taken in a meeting for the country’s Consumer Price Index Committee.
“We will press to approve this hike for the public sector,” Bayram added, noting that “tuition grants have been doubled.”
“What we achieved today obliges the National Social Security Fund to carry out adjustments related to hospitalization, medicines and maternity,” the minister said.
13 January 2023, 15:46
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Word of the day
stipend (n.)
early 15c., "periodical payment; soldier's pay," from Latin stipendium "tax, impost, tribute," in military use "pay, salary," from stips "alms, small payment, contribution of money, gift" + pendere "to hang, cause to hang; weigh; pay" (from PIE root *(s)pen- "to draw, stretch, spin"). According to Klein's sources, the first element is related to Latin stipes "log, stock, trunk of a tree" (see stipe). For the financial sense of the Latin verb, see pound (n.1). As a verb from late 15c.
