12 industrial public enterprises face financial problems and in liquidity freeze which led most of them to freeze workers’ wages for the last three months and the rest to suspend salaries starting from next April in case no new programs are advanced and no liquidity arrives from the banks.
The Secretary General of the Prosecution Madhkour Moussa and Salah Soum, who is in charge of Trade Union Relations of the National Federation of Metals, Mechanics and Electronics’ workers in the General Union of Algerian Workers, claimed that the situation of these public enterprises is getting worse because banks stopped financing them which led to freezing the workers’ salaries in most of them for three months.
Madhkour Moussa cited the example of German Enterprise specialized in the production, development, and commercialization of materials handling and storing in Constantine in which its workers (464) have not been receiving salaries in the last three months because of liquidity problems and debts (more than 800 billion centime). Workers marched to the headquarter of Algeria Global Markets (AGM) in Alger.
#financial_crises #fiancial_liquidity #freezing_wages #Algeria
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