SPEAKER Prospero Nograles has expressed support for a new wage increase even as he urged the regional tripartite wage boards to meet immediately to come up with regional rates calibrated to enable both the employees and the employers to cope with the existing economic situation.

Nograles said the wage increase will come hand in hand with the 10-percent wage hike for government employees as directed by President Arroyo.

Lakas Rep. Edcel Lagman of Albay, chairman of the House Committee on Appropriations, earlier filed House Bill 3819, known as an “Act authorizing compensation adjustments to national government personnel,” seeking a 10-percent pay increase for government employees starting May 1.

Lagman said in his explanatory note that despite the 7.3-percent economic growth in 2007, “the continuous upward adjustments in the prices of both food and nonfood commodities and volatile oil prices exert pressures on the consuming public even as the looming rice crisis compounds the consumers’ predicament.”

“It is imperative that a salary increase be authorized to help public-sector employees confront the high costs of prime commodities. Our government employees have long been expecting the passage of the projected salary standardization saw III, which will address the distortions and inequities in pay under the current system,” Lagman said.

“However, it will take some more time to complete the studies being undertaken by the Executive department and to consolidate and approve the various House Bills increasing and rationalizing the salaries of the various government personnel,” he added.

Nograles said a wage increase that is acceptable to both the employees and their employers is very important amid the spiraling food and fuel prices that are causing tremendous pressure to every Filipino’s ability to cope up with their day-to-day needs.

He pointed out, however, that any wage hike should also give prime consideration on the survivability of employers, as it will be a bigger problem if they close shops because they can no longer pay their employees.

“The regional wage boards should carefully balance both the interest of the employers and the employees. The rates should be properly calibrated because it would be useless if we increase wages while pushing companies and corporations into financial bankruptcy. It will be a bigger disaster if that happens,” said Nograles.

“My appeal, however, is for the employers to give importance to their employees first and profits can come later,” he added.

And since a legislated wage hike is out of the question because this is a violation of existing laws, Nograles said Congress will just speed up the approval of the pending measure that seeks to exempt minimum-wage earners from paying income taxes.

“Under the law it is the wage boards which will determine the issue of any wage increase in accordance with the existing economic situation in their respective regional jurisdictions,” Nograles said.

He added that Congress has bills exempting minimum-wage earners from paying income tax.

Nograles has mobilized House committees that are already in receipt of related measures that should be taken up when Congress resumes session on April 21.

ATTUNED to its thrust of bidding out its interests in several utilities and companies, the government is currently contemplating whether it will sell out Philippine National Oil Co.’s (PNOC) 40-percent interest in local refiner Petron Corp.

THE ailing garments industry, now facing tougher times with the economic slowdown in the US, its main market, has asked the government to put up a unit similar to the defunct Garments and Textile Export Board (GTEB) that will help in the marketing efforts abroad and in the gathering of industry data globally.

ALFONSO, Cavite—Government-run Power Sector Assets and Liabilities Management Corp. (Psalm) is looking at prepaying some $300 million worth of yen-denominated loans of the National Power Corp. (Napocor) within the year.

SPEAKER Prospero Nograles has expressed support for a new wage increase even as he urged the regional tripartite wage boards to meet immediately to come up with regional rates calibrated to enable both the employees and the employers to cope with the existing economic situation.

Amid problems hounding the agriculture sector due to soaring rice prices, the National Irrigation Authority (NIA) continues to post cost increases for two more ongoing foreign-assisted projects, according to documents from the National Economic and Development Authority (Neda).

OIL companies have again adjusted the price of diesel, gasoline and kerosene by 50 centavos a liter to further reflect the continuous surge of world oil prices.