An economic disaster is what the Mandaue Chamber of Commerce and Industry (MCCI) saw on the horizon due to the P200 minimum wage increase bill that Congress has pushed.

In an exclusive interview with the DAILY TRIBUNE, MCCI President Mark Anthony Ynoc said the wage bill brings a potential economic disaster causing company closures and bankruptcies.

“The passage of the P200 across-the-board daily wage increase would lead to high inflation, make companies and businesses less competitive, and result in job losses,” he stressed.

President Ferdinand Marcos Jr. also said the proposal needs further study.

“The thing is we have a tripartite board that actually determines the increase in the wage. So, we still have to study it further to see how that will work together,” Marcos said.

“We will try to resolve that because as you know it’s very clear that prices are rising, inflation is still there. We haven’t been able to curb it completely,” he added.

Ynoc indicated “the government should shift focus to strengthening the country’s economy through ease of doing business, establishing globally competitive training and education, infrastructure building and attracting foreign direct investors while encouraging existing businesses to implement incentive programs. This way we may boost the country’s GDP growth,” Ynoc proposes.

House Deputy Speaker and TUCP Partylist Representative Democrito Raymond Mendoza, the author of the original bill to provide a P150 wage hike, is happy with the development.

According to Mendoza, about 5 million minimum wage workers will be eradicated from poverty through the P200 amount.

“Enough is enough, Let’s end poverty wages,” he said.

The House Committee on Labor and Employment approved on 30 January 2025, the P200 cross-the-board daily wage increase for private sector workers.

In March 2024, the Senate first passed the P100 legislated daily minimum wage hike for private sector workers.

“Let us make history together and pass this law after 36 years,” Mendoza reminded.