MANILA, Philippines (Xinhua) – The Philippines has one of the highest minimum wages in the region,the country’s statistics agency reported Thursday.
The National Statistical Coordination Board (NSCB) said the minimum wage set in the Philippines and Thailand can buy the most rice compared to minimum wage in other ASEAN countries.
The country’s minimum wage of P270.98 or $6.16 per day can buy around 7.9 kilos of rice. In Thailand, the minimum wage of $4.84 per day, can buy as much as 10.3 kilos of rice. The NSCB used the Food and Agriculture Organization ‘s (FAO) estimate that each kilo of rice was valued at $0.78.
In Vietnam, the minimum wage of $1.74 can buy 3.95 kilos of rice, while Cambodia’s $2.03 can buy 4.95 kilos of rice. A $2 minimum wage in Indonesia can buy two kilos of rice, while Myanmar’s $3 can buy 6.67 kilos of rice.
“This means that our minimum wage is not (that) low compared to other countries. Of course, transportation costs are quite high but if the entire minimum wage is used to buy rice only, we can say that we are not far behind from our ASEAN neighbors,” NSCB Secretary General Romulo A. Virola said.
Data also showed that when the minimum wage in Metro Manila is used, the Philippines replaces Thailand in the top spot. The minimum wage in the National Capital Region is $404 or $8.34 per day. That amount can buy as much as 10.69 kilos of rice.
“Based on this data, there is no need to increase minimum wage in the Philippines. However, we all know that setting minimum wage setting is not as simple and we also need to take other factors into consideration,” Virola said. –Philippine Star
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