ECOP says P150 pay hike to widen gap of formal, informal sectors

THE Employers Confederation of the Philippines (ECOP) said the proposed P150 legislated daily pay increase will only widen the wage gap between the formal and informal sectors.

During the Laging Handa public briefing Wednesday, ECOP president Sergio OrtizLuis said only 16 percent of the employed Filipinos will only benefit from the proposed wage hike, which is pending in the Senate.

“If we will have the legislated wage increase, only 16 percent of the 50 million workers will benefit. And who are those 84 percent? These are the farmers, fisherfolk, market vendors, those in the small industries, tricycle drivers, jeepney drivers — they do not have employers. If you will hike the wages, who will increase the wages of the 84 percent?” Ortiz-Luis said in Filipino. He added wage hikes could trigger higher prices