| Photo from Business World |
The labor group Partido Manggagawa (PM), on Monday
asked Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona on why he raises
high alarm on the inflationary impact of the recently approved P85 increase in
daily minimum wage in the National Capital Region (NCR).
The group said because workers have no grasp of
macro-economics, it wants the BSP governor to educate the public on why money
in the hands of rich people is not inflationary while workers’ wages are.
In particular: “Why is the P85 wage hike inflationary
and his P52 million salary is not,” asked PM Chair Renato Magtubo.
Magtubo said Remolona is merely echoing the long-held
position of employer’s groups that any wage increase is bad for workers and the
economy.
“Ang mayayaman sa Pilipinas ay mas maraming hawak na
pera kaysa sa manggagawa, pero walang economic managers sa bansa ang nagsabi na
ang ganitong sitwasyon ay inflationary, samantalang korus silang lahat sa
inflationary effect ng wage hike,” said Magtubo.
He added: “Why should inflation be the problem when it
is wages which cannot catch up with the latter? Ang duda naming ay may balak
ang pamahalaan na i-reverse ang P85 sa pamamagitan ng pagbibigay babala sa
ibang rehiyon na huwag tularan ang NCR. Hindi ito acceptable.”
The labor leader said workers need answers to this
question as the 4th State of the Nation Address (SONA) of the President is
happening on Monday under the backdrop of the Philippines having been declared
by the World Bank an upper middle-income country (UMIC).
PM said for the UMIC status to be real, an average
Filipino household size of four members must have an income of P1,000,000 per
year.
“Wala tayo sa ganyang mundo ngayon. Sa katunayan, 90%
ng households sa buong Pilipinas ay kumikita ng mas mababa sa P1-M sa loob ng
isang taon, batay sa Family Income and Expenditure Survey,” Magtubo explained.
He added that millionaires in the richest 10% of the
population can only be found in 13 cities of the country, 8 of which are in
Metro Manila. “Pero walang nagpapaliwanag kung bakit ang hawak nilang yaman ay
hindi inflationary at ang wage hike sa minimum wage earners ang dapat
pangambahan.”
Minimum wages in the Philippines in all regions in the
country, except NCR, have stayed lower than the official poverty threshold.
PRESS RELEASE
Partido Manggagawa
20 July 2026
