With the following price pressures: weekly price increase of prices of fuel, increase in price of basic goods, (also due to Ukraine war) the pressure on is for petition for wage increase with some of quarters requesting for as much as P200.00/day increase
Defnitely, the bulk of businesses are at a quandry as to where they can get this or source this amount. A P200 per day increase would amount to P4,000 per month or P48,000 a year. If you have `50 employees that would be a about P2,400,000 and their margins would be wiped out.
Only exporters, MNCs, the 5% of the total employers would be able to afford this. This is a difficult decision making.
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