Tuesday 17 July 2018
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28 days ago

Trade chief: Wage hike must be ‘minimal’

Trade Secretary Ramon Lopez on Wednesday said wage hikes should be minimal to avoid the rise in production costs and consumer prices. If you ask me, there can be a minimal adjustment but that should not be more than what is necessary, Lopez said in a Palace briefing. The reality is not all are wage earners. If we increase the wage, costs will increase, Lopez added. The trade chief warned that a wage increase would be dangerous. Because you will create a strong pressure on inflation, he said.

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