The leadership of the Employers’ Confederation of the Philippines (ECOP) said that by ordering wage boards to immediately initiate the process leading to the next wage hike, President Ferdinand R. Marcos, Jr. has clearly shown his support for the legally-mandated system for determining wages.
In an interview on Thursday, ECOP president Sergio Ortiz-Luis, Jr. said the Chief Executive’s Labor Day instruction that Regional Tripartite Wage and Productivity Boards (RTWPBs) review minimum wage rates in their respective regions should put to rest any further discussion about legislated wage increases.
Marcos also asked the National Wages and Productivity Commission (NWPC) to review its rules to ensure that the Boards can maintain a regular and predictable schedule of wage review, issuance, and effectivity to reduce uncertainty and enhance fairness for all stakeholders.
‘Wage boards are in the best position to determine this (salary hikes) because it has representatives from the employer, labor, and government sec
tors,’ Ortiz-Luis told the Philippine News Agency.
He also called it “unnecessary” to increase the Philippine Health Insurance Corporation (PhilHealth) contributions, given it has an estimated PHP700 billion in reserve funds.
The business leader noted that PhilHealth is fully capable of giving more generous health coverage to its members without encumbering them with additional expenses.
Source: Philippines News Agency
