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PM urges employers to raise wages as businesses earn record profits

ISLAMABAD: Prime Minister Imran Khan urged top companies celebrating record profit margins to raise wages, aiming to achieve a virtuous cycle of growth and wealth distribution.

In a message he sent out on Twitter, the prime minister appreciated Serene Air for responding to his call and making an announcement of an up to 44 percent increase in the income of its staff.

“I appreciate Serene Air […] for responding to my call [and] announcing pay rise of 44% for low paid employees [and] 15-25% for other employees,” he wrote.

“I urge the top 100 corporations in [Pakistan], who made record profits of Rs950 [billion] in the last [year], to also raise their employees’ salaries.”

In a previous tweet, the prime minister had appreciated the ARY Group boss Salman Iqbal after he announced a raise in the salaries of his low-income employees.

The wage hike appeal is part of Khan’s strategy to tackle wealth disparities and redistribute wealth, while the government is also trying to ease the pain on consumers from rising inflation.

While inflation is at levels not seen in years and corporate executives have been lamenting the rising cost of doing business due to supply-chain disruptions, businesses nationwide have been more discreet about celebrating the record profit margins they have been able to achieve by passing costs on to customers, sometimes by charging even more.

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