P200 wage hike threatens investment, fuels inflation

Big business, employers urge Congress to focus on lowering prices of basic goods

- DEXTER BARRO II

The country's leading organizations of business executives and employers are voicing their concerns over the proposed P200 daily minimum wage increase, citing potential impact on investment, inflation, and small businesses.

The House of Representatives approved on third and final reading the bill proposing a salary hike for minimum wage workers in the private sector on June 4.

The measure now awaits the bicameral conference committee, where members of the House and the Senate reconcile the differences of their respective wage hike bills.

In February of last year, the Senate approved a counterpart bill proposing a P100 wage increase.

As the final step before the bill is transmitted to the Office of the President, the Makati Business Club (MBC) and the Employers Confederation of the Philippines (ECOP) are cautioning the government of the consequences of legislating a nationwide wage increase.