By Junex Doronio
MANILA — Can’t the Filipino capitalists moderate their greed for profit?
This question cropped up on Tuesday (20 Feb 2024) as Manila’s 3rd district Representative Joel Chua expressed strong doubts on the viability of the P100 legislated wage hike, saying this will only result to inflation, layoffs of workers and possible shutdown of firms.
“Ang nakikita ko sa P100 increase, tatlo ang pwedeng mangyari. Una, pwedeng ipasa nila sa consumer ‘yung increase sa labor. Ang epekto, magtataas ‘yung mga bilihin.Pangalawa, pag hindi nila kakayanin, magbabawas sila ng labor sector. Pangatlo, malamang ‘yung iba magsara,” Chua said in his interview with TeleRadyo Serbisyo.
On Monday (19 February 2024), the Senate passed on third reading Senate Bill No. 2534, which seeks a P100 daily minimum wage increase for employees and workers in the private sector.
Gabriela party-list Rep. Arlene Brosas praised the Senate for passing SB 2534.
“Although the P100 increase in wages is not enough to reach the P1,193 family living wage, this is an initial step toward putting the spotlight on the plight of the workers who have long been calling for a significant wage hike,” Brosas noted.
For his part, Senator Bong Go urged the rich to distribute their income to the poor.
To recall, in a study last month, research group IBON Foundation found that a family of five in the National Capital Region (NCR) needs P1,193 daily or P25,946 monthly to live decently.
However, the existing minimum wage in the NCR is still pegged at P610 and lower in other regions.
(el Amigo/MNM)