A minimum wage is the lowest remuneration that employers can legally pay their workers—the price floor below which workers may not sell their labour. Most countries had introduced minimum wage legislation by the end of the 20th century.
The movement for minimum wages was first motivated as a way to stop the exploitation of workers in sweatshops, by employers who were thought to have unfair bargaining power over them. Minimum wage is a way to help lower-income families. It increases the standard of living of workers, reduces poverty, reduces inequality, and boosts morale. In Sri lanka we have been facing this issue since the days we were born.
Minimum wages can increase the efficiency of the market. Employers and employees cannot be paid less than their applicable minimum wage, even if the workers agree to it.
~ Nishantha De Abrew