Labor group Trade Union Congress of the Philippines (TUCP) yesterday said the continued increase in fuel prices will water down the value of the salary adjustments recently approved by the regional wage boards.
In a statement, TUCP president Raymond Mendoza said the oil price increases are unacceptable as they eat away the benefits of the salary adjustments to be implemented in 14 regions.
“The buying power of the current wage adjustments are being dissipated by the series of previous and present extraordinary increases in prices of fuel, basic commodities, and cost of services,” said Mendoza.
“These will have no impact in lifting the lives of workers from worsening poverty caused by the pandemic crisis,” he added.
Mendoza pointed how the fuel price increases will trigger upward adjustments in the prices of basic commodities and the cost of services.
“Because of extraordinary inflation, the series of wage increase orders issued by the wage boards failed to restore the purchasing power of wages,” said Mendoza.
In recent weeks, 14 regional wage boards have issued wage orders granting minimum wage rate adjustments.
The 14 wage orders are to take effect starting this month, according to the Department of Labor and Employment. - By Gerard Naval
