Sen. Manuel Lapid said competing interests between employers and employees in the private sector make the proposed P100 wage hike a “challenge to enact.”
While he is supportive of this measure and considers it “timely,” Lapid said he is aware of its potential consequences on the operational costs of businesses.
The senator said that while more than four million low-income workers would benefit from this legislation, it is also important to balance it with the financial capacity of companies.
Nevertheless, Lapid agrees that the P100 across-the-board increase for minimum wage earners has to be prioritized in the 19th Congress.
“We expect this legislation to help our Filipino families catch up with inflation,” he said in a statement.
Lapid also believes that the adjustment would boost the economy because it would give a significant number of the working population additional purchasing power.
Sen. Jinggoy Ejercito Estrada leads the discussions on the proposed P100 pay hike at the Senate to help millions of struggling workers deal with the rising costs of goods and services.
“We cannot turn a blind eye on the injustice to and the economic conditions of our workers, who are considered the lifeblood of the economy,” Estrada, chairperson of the Senate Committee on Labor, Employment, and Human Resources Development, said.
At present, the daily minimum wage in the country is P610 in Metro Manila, which several labor groups said is not enough to cover all the basic needs of individuals and families under current economic conditions.