Metro Bacolod Chamber of Commerce and Industry Chief Executive Officer Frank Carbon said on Friday, June 16, that now is not the time to increase wages in Western Visayas as the region has a higher wage rate compared to neighboring regions.
Carbon told DIGICAST NEGROS that the latest increase in WV last year was about 30 to 40 percent, higher than other regions, which had at least five percent hikes.
The current minimum wage in Western Visayas ranges from P410 to 450 a day.
Carbon reiterated that another wave of wage increases will have inflationary effects on goods and services of local businesses.
The Regional Tripartite Wages and Productivity Board will hold consultations on two wage increase petitions in the region starting next month.
The United Labor-Western Visayas and Iloilo Pepsi Cola Workers Independent Union have filed separate petitions for a P100 wage increase in the region.
Carbon said last year the increase in minimum wages was at 30 to 40 percent, which means that the supposed increase that should happen in the coming years has been given in advance.
“Another wave of wage increases would also mean an increase in prices,” he said, adding that it might also result in small businesses retrenching workers or making them work on rotation, like what happened during the pandemic.*