The country’s top financial executives warned the newly approved P85 daily wage hike in Metro Manila could end up hurting workers if the government fails to follow through with reforms that lower business costs and attract investment.
The country’s largest business group has expressed concern over the House of Representatives’ approval of a P200 daily minimum wage hike, urging Congress to leave wage adjustments to the Regional Wage Boards instead of implementing a national mandate.
The Regional Tripartite Wages and Productivity Board for the National Capital Region (NCR) has approved a 5.7% increase in the minimum wage, benefiting an estimated 2.7 million workers, the Labor Department announced Monday afternoon.