A proposed Senate bill that aims to increase the daily minimum wage for private sector workers by P100 is facing opposition from employers in the Philippines. The Employers Confederation of the Philippines (ECOP) expressed concerns that this wage hike would negatively impact micro and small businesses, lead to inflation, and deter foreign investors. The president of ECOP, Sergio Ortiz-Luis Jr., stated that this increase would particularly burden micro-enterprises, which make up 90 percent of businesses in the country. He also argued that the proposed wage hike would disadvantage workers in the informal sector and make the Philippines less attractive to foreign investors. The bill, Senate Bill 2534, has reached the Senate plenary and is sponsored by Sen. Jinggoy Estrada, who believes that the wage increase is necessary to alleviate the economic burden on Filipino workers. However, ECOP remains firm in its opposition, emphasizing the potential negative impact on businesses and the overall economy.
