Argentina petchem workers to see pay raise
26 June 2008 23:23 [Source: ICIS news]
BUENOS AIRES (ICIS news)--
“The labour organisation FESTIQyPRA, the Chamber of the Chemical and Petrochemical Industry [CIQyP] and the Argentinean Ministry of Labour reached an agreement last Friday [20 June] in the Ministry of Labour, to grant a 22% rise for petrochemical workers,” said Nelson Palacios, the head of FESTIQyPRA.
The labour leader added that “the average salary in this industry is about $633 a month”.
The pay raise will be implemented out in three parts, beginning with an 11% increase in the month of July, followed by a 6.5% increase more in September and finally a 4.5% pay hike in November.
The initial basic salary for petrochemical workers is of $366 a month.
The workers also will receive an extra $116 for the months of May and June. However, the bonus will not become part of their basic salary.
The pay hikes were approved in response to economic inflation in
Although the National Institute of Statistics and Census (INDEC) has said that the inflation rate for the last twelve months has been of 9.1%, economic experts are questioning the reliability of the official statistics, and agree that the inflation is actually around 20%.
“The workers that will benefit from this agreement include the staff from
The union leader explained that workers from the Zarate Campana complex, which are also represented by FESTIQyPRA, had reached their own pay agreement with the Chamber and the Ministry of Labour in April.
($1 = €0.64)
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