Oil Workers Salary to be Anchored to the Petro: New Monthly Income

According to the Unitary Federation of Petroleum and Gas Workers, their peers and related workers in Venezuela (FUTPV), a new Oil Collective Agreement was achieved that anchors the minimum wage to the value of the Petro.

This becomes a key labor reference, since oil workers will go from earning $2.3 a month to $120, a significant improvement according to Venezuelan news website La Tabla.

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The convention sets a minimum salary at 82 million bolivars, food vouchers at 82 million and transportation vouchers at 50 million. This means the minimum income per month would be set at approximately 214 million bolivars, to be adjusted to fluctuations of the Petro.

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In turn, there are improvements in private health insurance that covers up to $10,000, funeral service of 100% of expenses, 30-day post-vacation bonus and the educational support plan increases scholarships for workers’ children by 12%.

 

Featured image: President Maduro signing the new oil workers collective bargaining agreement. Photo courtesy of Prensa Presidencial.

(La IguanaTV)

Translation: Orinoco Tribune

OT/JRE/OH

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