Home / Knowledge / News / Textiles / 55,000 Bolivian textile workers may lose jobs: COTEXBO
55,000 Bolivian textile workers may lose jobs: COTEXBO
29
Apr '14
Around 55,000 workers operating in the textile sector of the western-central South American country of Bolivia are at a risk of losing their jobs, owing to the Government’s decision to increase the minimum wage by 20 percent and basic salary by 10 percent, said Bolivian Textile Conglomerate (COTEXBO) CEO Jesus Acosta.

According to the COTEXBO official, around 15,000 entrepreneurs operate in the Bolivian textile sector, and around 55,000 workers are at risk of losing their jobs, as these entrepreneurs would not be able to provide the increased wage rate, reports Bolivian newspaper Erbol.

Mr. Acosta explained that medium enterprises in the textile sector of the country employ around 100 workers, whereas small enterprises employ a minimum of 25 workers and micro enterprises employ only 10 workers.

If the Government constantly increases the minimum wage rate, small business enterprises would end up closing operations because of inability to cover production costs and salary increases, he added.

Last week, Bolivian President Evo Morales announced that the Government would be increasing the National Minimum Wage (SMN) in the country by 20 percent and the basic salary by 10 percent, due to recovery of the nation’s economy in 2013.

The Bolivian President explained that the decision to increase the minimum wage was arrived after extensive discussions with the Central Obrera Boliviana (COB), the Bolivian Workers’ Center, which also agreed with the wage rate.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search