Palace adviser bats for wage-hike exemption for micro enterprises

ABS-CBN News

Posted at May 15 2022 04:41 PM | Updated as of May 16 2022 09:27 AM

MANILA - A palace adviser on Sunday said micro-enterprises should be exempt from the hike in the minimum wage.

Presidential Adviser for Entrepreneurship and Go Negosyo founder Joey Concepcion issued the statement following the decision of the wage boards of Metro Manila and Western Visayas to approve an increase in the minimum wage for workers in various sectors in the regions. 

Micro-enterprises should are already struggling from the effects of pandemic lockdowns and the high cost of commodities brought about by the Russia-Ukraine crisis, Concepcion said.

“They have very little working capital and whatever they earn for the day, they re-invest in the business just to keep going,” he said. 

The palace adviser added that many microenterprises are already in debt and their inputs have also gone up with commodity prices.
 
“We have to make this exemption for them because these are not ordinary times,” said Concepcion.
 
Some workers in Metro Manila meanwhile said that while they welcomed the wage hike, this was still not enough considering the high cost of many basic commodities today. 

Inflation hit 4.9 percent in April as food and fuel prices surged.

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