MICRO, SMALL AND MEDIUM enterprises (MSMEs) may face difficulty in complying with the recently approved wage hikes in Metro Manila and Western Visayas as many businesses have yet to fully recover from the pandemic, industry groups said.
“My concern is many MSMEs are having challenges with the present legislated wage, this increase will add burden to their precariousnancial condition,” Philippine Chamber of Commerce and Industry President George T. Barcelon said via Viber.Many MSMEs, who represent 99% of enterprises in the Philippines, are still struggling to recover from the pandemic.
Meanwhile, P55 and P110 increases in Western Visayas bring the daily minimum wage in the region to P450 for businesses employing more than 10 workers, and P420 for establishments employing 10 or less workers. Management Association of the Philippines President Alfredo E. Pascual said he recognizes the need to raise the minimum wage as prices of basic commodities have continued to rise.
Labor group Partido Manggagawa in a statement on Sunday opposed the move of some industry groups to be exempted from the wage hike. “Such increases are too small and too insignificant which have no impact on improving the economic situation of workers and their families given the nonstop increases in prices of food and services,” it said. “The wage boards did not reckon with April inflation of 4.9% and the projected inBangko Sentral ng Pilipinas Governor Benjamin E. Diokno said in a Viber message that the Monetary Board will consider the wage hike in its policy meeting on Thursday.
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