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Tuesday, October 04, 2005
Wage board to grant wage hike exemption to SMEs
THE Regional Tripartite Wage and Productivity Board (RTWPB) are poised to grant small and medium enterprises (SMEs) exemption from the implementation of a wage order that granted workers throughout the region an increase in the minimum wage.
The exemption, however, would only cover SMEs with a capitalization of P3 million or below.
"This is the first time in the last five years or so that businesses with a capital worth of P3 million and below would be exempted from implementing the minimum wage rate," RTWPB 12 board secretary Joel Gonzales said.
Two business establishments have already applied for exemption and the wage board is now evaluating its application.
Gonzales urged other establishments falling under the category to submit their respective application for exemption.
The new minimum wage rate took effect last June 19.
Small businessmen in the region earlier said they could not afford the new wage hike due to rising operational costs brought about by the series of oil price hikes.
Carlito Uy, president of the South Cotabato Chamber of Commerce and Industry Foundation Inc., said complying with the new wage order would result to retrenchment or closing down of businesses.
Under the new salary adjustment for the region, those in the non-agriculture industry shall receive a daily increase of P13.50, P10 for those in the agriculture sector, and six pesos for those in the retail/service establishments.
Since September last year, the daily minimum wage rate for those in the non-agriculture sector was P200, P190 for those in the agriculture sector, and P200 for retail/service establishments.
With the effectivity of the wage hike on June 19, private workers in the non-agriculture sector will receive P213.50 per day, P200 for those in the agriculture sector, and P206 for those in the retail/service establishments. (RBS)
(October 3, 2005 issue)
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