THE nation’s regional wage boards should move fast in providing private sector workers immediate relief from the rising cost of basic goods and services, Makati City Rep. Luis Campos Jr. said in a statement Sunday.
“Measured minimum wage increases are now more than justified, so we are counting on the boards to do their job,” Campos, a deputy minority leader, said.
There are some 4.1-million minimum wage earners in the private sector, according to the Department of Labor and Employment.
The Bangko Sentral ng Pilipinas itself expects consumer price increases to gather steam in the current quarter, Campos pointed out.
“The BSP has basically implied that the 5.2-percent inflation rate in June—already the highest in more than five years—is bound to worsen before it eases,” Campos said.
Inflation “peak will probably occur sometime in the third quarter,” before slowing down to between 2 to 4 percent in 2019, the BSP said in a statement on July 5.
Despite the 4.3-percent average inflation rate in the first semester, Campos said only four of the 17 regional wage boards have so far ordered minimum pay increases.
The Calabarzon (Region 4A) board increased minimum wages by P14 to P21.50 effective April 28.
The Soccsksargen (Region 12) board raised minimum wages by P16 to P18 effective May 11.
The Western Visayas (Region 6) board augmented minimum wages by P8.50 to P26.50 effective July 12.
The Eastern Visayas (Region 8) board added P20 to P30 to minimum wages, with the order still pending publication and effectivity.
Public sector workers are in a better position to cope with higher inflation, Campos said.
“Government employees received the third installment of their salary increases in January this year, and are expected to receive the fourth and last portion in January 2019,” he said.
Campos was referring to the four-year (2016 to 2019) phased implementation of the compensation adjustment for government personnel under Executive Order No. 201 of 2016.