PRESIDENT Ferdinand R. Marcos Jr. will carefully study the potential economic implications of the proposed P200 increase in the daily minimum wage for private sector workers to ensure that any decision made will strike a balance between the welfare of workers and the sustainability of businesses.
“We will look at the economic implications of this and how to resolve this with the opinion of the wage boards, since the wage boards are also the creations of Congress,” the President said in a statement read on Thursday by Presidential Communications Undersecretary and Palace Press Officer Claire Castro.
During a Palace press briefing, Castro relayed the President’s statement in response to questions on whether the President is inclined to sign the wage increase bill once it passes both chambers of Congress.
Palace Press Officer said that President Marcos is committed to supporting the welfare of Filipino workers while ensuring that decisions are sustainable for the economy.
“Nais po ng Pangulo na ibigay kung ano po ang makakabuti sa manggagawang Pilipino. Titingnan ang lahat ng aspeto at ang concerns ng lahat ng stakeholders,” she said.
With 171 yes votes, one no vote, and zero abstention, the House of Representatives on Wednesday approved on third and final reading House Bill No. 11376 which seeks to increase the daily minimum wage for private sector workers by PhP200.
The Senate has previously approved its version which proposes a PhP100 daily minimum wage hike under Senate Bill 2534.
If signed into law, it will be the first legislated nationwide wage hike since the Wage Rationalization Act in 1989. Last Tuesday, President Marcos met with labor leaders in Malacañang where he reaffirmed his commitment to protecting the rights and advancing the interests of workers across the country.
