Employer’s liability compulsory insurance against non-payment of salary in case of bankruptcy is supposed to apply

Employer’s liability compulsory insurance against non-payment of salary in case of bankruptcy is supposed to apply in Belarus. Minister of Economy Alexander Chervyakov informed about it during the extended meeting of collegium of EconMin, as BelTA reported.

In 2019, a special attention was drawn to timely salaries by enterprises being in bankruptcy. «This issue is remaining essential this year as well. The main problem deals with cash shortage. In cooperation with MinFin and Federation of Trade Unions of Belarus, we have built up a concept of compulsory insurance for employers against nonpayment of salaries in case of bankruptcy. In general, the government supports this concept. A relevant project documentation shall be prepared this year. And, it is necessary to provide   the documents follow-up», Alexander Chervyakov said.

The Minister also ordered to monitor solvency of the strategically valuable organizations to prevent their bankruptcy. «We are to stay one step ahead as per each group of enterprises. We should not wait till they get into a red zone. We should make any managerial decisions in due course», he emphasized.

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