Wage hike seen to increase selling price, production costs

THE Cebu Chamber of Commerce and Industry (CCCI) sees a possible increase in selling prices and production costs of some companies following the P31 minimum wage increase in Central Visayas.

CCCI president Charles Kenneth Co said Wednesday, May 25, 2022, that the increased amount is at the "high end of their expectation."

Co assured, however, that the increase will not probably result in a massive layover of workers in the region.

The chamber also welcomed the plan of the Cebu City Government to offer a tax amnesty to businesses that cannot cope with the increase. (IRT)

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