The Marcos administration on Tuesday pledged to continue assisting micro, small and medium enterprises (MSMEs) to mitigate the impact of the latest wage high in Metro Manila.
Department of Trade and Industry (DTI) secretary Alfredo Pascual said the P35 wage hike in the National Capital Region (NCR) would improve laborers' buying power, but the government acknowledges it could pose a challenge for small businesses.
"The Department of Trade and Industry remains steadfast in supporting industries through this transition. We will continue to provide assistance and implement programs that promote business resilience and competitiveness, ensuring that our economy thrives and remains robust," the DTI chief said Monday night.
He added that the DTI will continue to work closely with other government agencies and private stakeholders to monitor the impact of the recent pay hike on businesses.
"By aligning with the latest regional poverty threshold, the wage increase signifies our dedication to equitable growth and economic inclusivity," Pascual said.
He said it is crucial to strike a balance between the needs of workers and the sustainability of enterprises.
"Together, we aim to foster an environment where both workers and businesses can prosper, driving sustained economic growth and improving the overall socio-economic landscape of our nation," he added.
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