Üstel: HP Regulation to Return to Committee for Consensus Process

Üstel said the government’s aim is to maintain economic stability while ensuring sustainable public welfare, stressing that the process will be carried out in consultation with all stakeholders.

“THIS IS A STEP FORWARD”

Explaining the decision, Üstel said the current draft differs from the version previously discussed in committee, making it necessary to return it for further evaluation.

He said: “The need has arisen to withdraw the current arrangement and reassess it with all relevant stakeholders.”

Üstel added that the process with trade unions should not be seen as a step backwards, but rather as a move that reduces tension and strengthens social consensus.

“PROTECTING PURCHASING POWER IS OUR PRIORITY”

Üstel said the government’s main approach has been to protect purchasing power and improve living standards without excluding any segment of society.

He recalled that, for the first time, cost-of-living adjustments were paid three times a year to protect workers’ income levels, while maintaining balance in public finances.

He also said minimum wage earners have been protected against inflationary pressures.

GLOBAL DEVELOPMENTS PUT PRESSURE ON THE ECONOMY

Üstel noted that global economic conditions, particularly conflicts in the Middle East, have significantly affected energy and fuel prices.

He said the government refrained from increasing fuel prices for around a year and a half, absorbing costs through public revenues, but warned that this approach has become increasingly difficult to sustain.

“AUSTERITY MEASURES BECAME NECESSARY”

Üstel said maintaining economic balance required new legal steps and austerity measures, developed under coordination between the Ministry of Finance and other relevant ministries.

RETURN TO COMMITTEE

He confirmed that, following consultations and feedback, the government decided to return the draft to committee.

“We will proceed with a culture of consensus. We aim to rebuild agreement through detailed discussions with all parties,” Üstel said.

STABILITY AND SUSTAINABLE WELFARE

Üstel concluded that the government will continue policies aimed at fiscal discipline while working on measures to increase revenues, adding that the goal is to strengthen economic stability and leave a more resilient structure for future generations.