ILOILO CITY—Citing financial losses, employers in Iloilo are opposing a petition by a labor group for a P113.57 increase in the daily minimum wage in Western Visayas.
In a meeting of the Regional Tripartite Wages and Productivity Board on Wednesday, the Iloilo Multi-Sectoral Business Organization Inc. (IMSBOI) said the proposed increase is “ill-timed.”
In a position paper, IMSBOI said many Iloilo businessmen have suffered huge losses in earnings because of several factors, including the scam involving Evergreen Finance (Iloilo) Inc.
“Small businesses, which make up majority of our business establishments, are the worst hit,” the paper said.
The IMSBOI said the labor force in the region will also lose its global competitiveness if a new wage increase is implemented.
Labor groups in the province filed a petition for a P113.57 increase in daily minimum wages.