PCCI deems P35 daily min wage hike reasonable

The Philippine Chamber of Commerce and Industry (PCCI), the country's largest business group, on Thursday described the P35 increase in the daily minimum wage for private sector workers in the National Capital Region as 'reasonable', despite concerns from its members.

PCCI President Enunina Mangio said employers will comply with the new wage from P610 to P645 per day, approved by NCR's Regional Tripartite and Productivity Wage Boards.

Mangio emphasized that while the increase is fair compared to a previously proposed P100 raise, it must be carefully monitored for its impact on micro and small enterprises (MSMEs), which are crucial to the economy.

The wage hike aims to balance the needs of workers with the financial constraints faced by employers, especially MSMEs that employ between 10-199 workers according to Philippine Statistics Authority data.

Mangio highlighted the importance of ongoing dialogue and collaboration among stakeholders for sustainable economic growth while acknowledging the impact of inflation on all sectors.

The Department of Trade and Industry (DTI) has acknowledged potential challenges businesses may face with this adjustment and committed to providing assistance through various programs aimed at promoting business resilience, particularly for SMEs.