By Gabriel Kim Leal
(May 2, 2024) – Senate President Migz Zubiri on Thursday urged Pres. Bongbong Marcos Jr. to support the bill seeking to give a daily hike of P100 to the minimum wage across the country.
Senate Bill No. 2534 or the P100 Daily Minimum Wage Increase Act aims to provide workers with fair compensation, especially amid economic challenges, including inflation. The measure already passed the Senate and is now pending in the House of Representatives.
“(The passing of the bill) will be a massive step toward giving our hardworking laborers the living wages that they deserve. Perhaps it can even be certified as urgent, given the continued spike in the prices of goods,” said Zubiri in a media release.
Government numbers indicate a 3.7% increase in inflation, which may have breached the target range in April due to expensive rice and meat. The Bangko Sentral ng Pilipinas projected the rate could reach between 3.5 to 4.3% for April.
Leaders of the House of Representatives have urged their counterparts in the Senate to expedite the proposed amendments to the Rice Tarrification to potentially lower rice prices by P10-P15 per kilo.
ALSO READ: House leaders urge Senate to rush lower rice prices via tariff amendments
“Despite making massive contributions to our industries, are still dealing with wages that are not enough to cover their needs,” said Zubiri.
The highest daily minimum wage in the country is P610 in Metro Manila, while the lowest is P326 in the Bangsamoro Autonomous Region in Muslim Mindanao.
Independent think tank IBON Foundation revealed a growing gap between worker productivity and salary compensation. Although worker productivity has increased, the minimum wage has not kept pace. It said a family of five in Metro Manila needs P1,193 per day to live decently.
“Employers have pocketed this growing productivity as profits for decades instead of giving workers fair compensation that’s due to them,” said IBON Foundation.
Amid soaring prices, Zubiri reiterated the importance of the legislative approach and noted the ongoing efforts for regular wage reviews.
“All we need is the House counterpart measure, and this (minimum wage increase) will be immediately felt across the sector,” stressed the senator.
(PM)
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