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Tulfo seeks review of minimum wage hike policy amid 8.7% inflation
Tulfo seeks review of minimum wage hike policy amid 8.7% inflation
Nation
Tulfo seeks review of minimum wage hike policy amid 8.7% inflation
by Ellicia Del Mundo15 February 2023
Photo courtesy: Senate website

Senator Raffy Tulfo has filed a resolution seeking a review of the existing policy on the increase of the country's minimum wage in a bid to improve workers' standard of living and quality of life.

Under Senate Resolution No. 476 filed on February 13, Tulfo cited that the 8.7 percent inflation rate recorded in January 2023 has "significantly impacted" workers' cost of living, making it hard for them to make ends meet.

"The current minimum wage increase will not be able to sustain the living conditions of workers, and many workers are facing significant financial difficulties as a result," he said.

In the existing minimum wage that was approved on June 2022, the rates range from Php 533 to Php 570 in the National Capital Region (NCR)

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Meanwhile, the minimum wage outside the NCR is from Php 306 to Php 470.

"It is imperative to improve the standard of living and quality of life for workers, particularly those in the lower income bracket, and to ensure that the policies on the minimum wage increase are fair, effective, and consistent with the needs of the workers and the economy," he underlined.

The Senator said the review shall be conducted by the Senate Committee on Labor.

"The Committee shall hear the views and recommendations of stakeholders, including workers, employers, and experts in the field, and shall report its findings and recommendations to the Senate," Tulfo said.

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