PSAC head suggests gradual PHP100 wage hike

Joey Concepcion, head of the Private Sector Advisory Council (PSAC) and founder of Go Negosyo, suggested during a public briefing on Wednesday that a proposed PHP100 wage hike should be implemented gradually rather than all at once.

Concepcion noted that while he supports wage increases, only large corporations might be able to afford such a significant increase immediately, emphasizing the potential struggle for small and medium enterprises (SMEs) which make up 99 percent of business establishments.

He highlighted the importance of creating more jobs and encouraging workers to develop skills to move up the career ladder and earn higher salaries.

Concepcion also echoed sentiments from other business leaders who expressed difficulty in implementing the wage increase all at once, suggesting that past administrations have adjusted wages incrementally over time.

The Senate on Monday approved a bill proposing a PHP100 daily minimum wage increase for employees and workers in the private sector, but Concepcion warned that small businesses may struggle to comply with such a significant one-time hike.