Trade chief Lopez : Wage hike ‘dangerous’

TRADE SECRETARY Ramon M. Lopez on Wednesday said a wage hike is “dangerous” for the economy because of its impact on prices of basic goods, adding that companies may be forced to lay off employees.

“Medyo dangerous po iyon (That is a bit dangerous); but I guess, just to address certain considerations, pinaguusapan naman po iyon sa mga (that is being discussed by the) Regional Tripartite Wage Boards. But I would say

(that’s a bit dangerous). Nevertheless, so let them handle the wage increases. What we’re saying... the more sustaining solution for wage increases would be more jobs to be created and more investments to come in — that’s the solution to increase wages,” Mr. Lopez said in a press briefing at the Palace.