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Ayala Land chosen as Harvard Business School global capstone partner

AYALA LAND, INC.

AYALA LAND, INC. (ALI) has been selected as one of the global partners for Harvard Business School’s (HBS) FIELD Global Capstone Program, the listed property developer said on Monday.

“This collaboration allows us to showcase how we innovate, adapt to trends, and prioritize the customer while driving business growth,” Clarisse Feria-Darre, project development group head at ALI’s Premium Residential Business Group, said in a statement.

ALI is among 156 companies chosen worldwide to participate in the program, alongside Bank of the Philippine Islands, the Ayala group’s banking arm.

“The engagement underscores ALI’s commitment to fostering global learning and innovation through strategic partnerships with top academic institutions,” the company said.

Ahead of the students’ arrival in the Philippines, ALI executives collaborated remotely with the HBS leadership team.

During a week-long in-person engagement in Makati City, HBS students presented ideas to ALI executives, conducted field research across the metro, and delivered strategic recommendations to management.

The FIELD Global Capstone is a required course for first-year MBA students at Harvard University. The program is designed to enhance students’ capabilities in managing real-world business challenges across diverse environments.

“We are extremely grateful to Ayala Land and all the FIELD Global Capstone Project Partner organizations for all they do on behalf of our students,” said Joe Fuller, faculty chair for the FIELD Global Capstone.

ALI earlier reported a 10% year-on-year increase in first-quarter net income to P6.9 billion, supported by growth in leasing and property development revenues.

On Monday, shares of ALI rose by 0.64% or 15 centavos to close at P23.45. — Beatriz Marie D. Cruz

Anti-environmentalism is on the rise but it’s full of contradictions

FREEPIK

Anti-environmentalism is gaining ground. Attacks on the net zero goal and hostility to conservation measures and anti-pollution targets are becoming more common. And, as recent election results have shown, these tactics are reshaping politics in Britain and across the west.

Anti-environmentalism is a rejection of both environmental initiatives and activism. But despite its sudden rise and bold rhetoric, it is built on shaky foundations. The messages it offers are often contradictory and row against the tide of everyday experience.

Take the US president, Donald Trump. He dismantled many environmental protections in his last term of office, and is now removing those that are left — including support for research that even mentions the word climate. Yet he told a rally in Wisconsin in 2024: “I’m an environmentalist. I want clean air and clean water. Really clean water. Really clean air.”

Some of the contradictions of anti-environmentalism reflect its departure from traditional conservatism. Although routinely identified as “conservative,” the populist anti-green politics of Republicans in the US and Reform in the UK, along with the AfD in Germany and National Rally in France, represent a radical challenge to the ideals of continuity and conservation that were once at the heart of conservatism.

The Conservative Environment Network is an organization which pitches itself as an “independent forum for conservatives in the UK and around the world who support net zero, nature restoration and resource security.” Much of this network’s work involves reminding people that important environmental protections, from America’s national parks to controls on pollution and climate change in Britain and elsewhere, were introduced by conservatives.

But few on the right appear to be listening. A populist tide is washing this conservative tradition away, despite the fact that support for environmental protection remains very popular.

Polling indicates that 80% of people in the UK worry about climate change. Public backing for the work of the US Environmental Protection Agency is also overwhelming, including among Republican voters.

In part, this support reflects the fact that environmental damage is an everyday reality: unpredictable weather, the collapse of animal and insect populations, and a range of other challenges are not just on the TV, they are outside the window.

In my research for a forthcoming book on environmental nostalgia across the world, I keep bumping into an irony. In western nations, voices from the right say they want their country back, yet appear hostile to environmental policies that would protect their country and ensure its survival.

There are many reasons for this disconnect, including resentment against initiatives that require lifestyle and livelihood changes. However, the enmity and disengagement is more complicated than a simple rejection of nature.

Many people — including Trump himself — claim they are environmentalists even when the evidence suggests otherwise. The signs and symbols of environmental care are knitted into every aspect of our commercial and cultural life: if wildlife could sue for copyright, there would be a lot of rich bears.

I argue that a distinction can be made between what I call “cold” and “hot” forms of environmentalism. The former values and mourns the loss of nature, but as a spectacle to be observed — a set of appealing images of flora and fauna — while the latter feels implicated and anxious.

The former position allows people to claim they love nature yet be indifferent or even hostile to initiatives to save it. However, the line between cold and hot, or between anti- and pro-environmentalist, is neither fixed nor hard.

Another quality of anti-environmentalism is that its beliefs are changeable, even quixotic. Climate change is an example.

Reform’s leaders have long flirted with climate change denial. “Climate change has happened for millions of years,” explained former Reform UK leader Richard Tice in 2024, adding that “the idea that you can stop the power of the Sun or volcanoes is simply ludicrous.” Tice has not changed his views but later the same year, the party’s new leader, Nigel Farage, told the BBC that he was “not arguing the science.”

Like other populist parties, Reform adopts a mobile position on the environment, moving between denying that climate change is happening or that humans are causing it, and the very different contention that anthropogenic climate change is real but that environmental targets are unreachable and unfair, given that other nations (China is often mentioned) supposedly do so little.

A POST-WESTERN PARADOX
Researchers are only just starting to think about anti-environmentalism. One key analysis is environmental politics researcher John Hultgren’s The Smoke and the Spoils: Anti-Environmentalism and Class Struggle in the United States. This new book explains how Republicans managed to convince working-class voters that there is “zero-sum dichotomy between jobs and environmental protection, workers and environmentalists.”

This kind of binary has also been found by contributors to The Handbook of Anti-Environmentalism, who identify and critique the stereotyping of environmentalism as middle-class and elite in several western countries.

Yet the geographical focus of these pioneering works misses yet another of the paradoxes of anti-environmentalism: that although its rhetoric often accuses China and other non-western countries of doing little, there has been a significant environmental turn in both policy and public attitudes beyond Europe and the US.

Environmentalism is becoming post-western. This is partly because the realities of environmental damage are so stark across much of Asia and Africa.

Extreme temperatures and unpredictable rainfall are leading to food insecurity and community displacement. Environmentalism in the African Sahel and south Asia might better be called “survivalism.”

And despite its continuing reliance on fossil fuels, China’s state-led vision of a transition to a conservationist and decarbonized “ecological civilization” is positioning it as a global environmental leader.

Stereotypes of environmentalism being primarily a western concern are crumbling. Because of this, along with the many contradictions that beset it, the rise of anti-environmentalism appears not only complex, but curious and unsustainable.

THE CONVERSATION VIA REUTERS CONNECT

 

Alastair Bonnett is a professor of Geography at Newcastle University.

How PSEi member stocks performed — May 26, 2025

Here’s a quick glance at how PSEi stocks fared on Monday, May 26, 2025.


Philippines advances in Global Presence Index

The Philippines rose two places to 42nd out of 150 countries with an index value of 58.64 in the latest edition of the Elcano Global Presence Index by Madrid-based think tank Elcano Royal Institute. Despite this, the country remained the region’s laggard after placing sixth-lowest among its peers in the East and Southeast Asian region. The index, which used 2024 data, evaluates a country’s international relations, foreign policy and global affairs, based on three dimensions: economy, defense, and soft presence.

Philippines advances in Global Presence Index

Peso weakens on hawkish Fed

BW FILE PHOTO

THE PESO weakened anew against the dollar on Monday due to hawkish signals from a US Federal Reserve official.

The local unit closed at P55.42 per dollar, dropping by 17 centavos from its P55.25 finish on Friday, Bankers Association of the Philippines data showed.

The peso opened Monday’s session flat at P55.25 against the dollar. Its worst showing was at P55.45, while it climbed to a high of P55.143 versus the greenback.

Dollars exchanged dropped to $1.47 billion on Monday from $1.98 billion on Friday.

“The dollar-peso initially came to a fresh high of P55.143 as the market responded to the US’ extension of the tariff deadline against the European Union (EU), but eventually bounced to P55.45 following remarks from [Federal Reserve Bank of Minneapolis President Neel Kashkari] saying that a rate cut in September is still uncertain,” a trader said in a phone interview.

The peso weakened against the dollar on Monday amid renewed uncertainty after US President Donald J. Trump’s latest tariff threat against EU and eventual U-turn, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

For Tuesday, the trader expects the peso to move between P55.20 and P55.50 per dollar, while Mr. Ricafort sees it ranging from P55.30 to P55.50.

Mr. Kashkari said major shifts in US trade and immigration policy are creating uncertainty for Fed officials to move on interest rates before September, as the Trump administration continues tariff talks with numerous governments, Bloomberg reported.

“Anything is possible,” Mr. Kashkari said Monday in an interview on Bloomberg Television in Tokyo. But will the picture “be clear enough by September? I am not sure right now. We will have to see what the data says, but also how the negotiations are going,” he said. If trade deals are struck between the US and other nations over the next few months, “that should provide a lot of the clarity we are looking for,” he added.

While the US economy entered 2025 on solid footing, Mr. Trump’s tariffs and substantial changes to the country’s immigration policy have prompted businesses to rethink investment plans.

Widespread levies are seen pushing up US inflation while denting growth as firms pull back investment and households rein in spending. Mr. Kashkari and other central bank officials, including Chicago Fed chief Austan Goolsbee, have said the bar remains high for cutting interest rates in the near term.

“This uncertainty is potentially weighing on economic activity and creating challenges for us because we are not sure where things are going to settle and, therefore, where we should go with monetary policy,” Mr. Kashkari said.

Several Fed policymakers in the past week have signaled that their wait-and-see approach to potential interest-rate adjustments could extend for months as they look for clarity on the tariffs and their impact on the US economy.

Mr. Trump added to the uncertainty late last week when he threatened to impose a new 50% tariff on imported goods from the European Union, before delaying them until July 9. Mr. Trump also warned of a potential 25% levy on devices made by Apple, Inc. and Samsung Electronics Co. that are not manufactured in the US.

The Supreme Court last week shielded the Fed from Mr. Trump’s push to fire top officials at independent federal agencies.

In a ruling that let Mr. Trump oust officials at two other agencies, the court said its decision wouldn’t apply to the central bank, calling it a “uniquely structured, quasi-private entity.” The decision appears to protect Fed Chair Jerome H. Powell from outright termination, but it’s unclear whether it would prevent Mr. Trump from demoting him as chair.

Mr. Trump last month sent conflicting signals, posting on social media on April 17 that “Powell’s termination cannot come fast enough!” before telling reporters a few days later that he had no intention of firing him.

The biggest risk to the US economy is the overhang of major new policies, including trade barriers and immigration, Mr. Kashkari said on Monday. “I hope the negotiations taking place happen much more quickly than that so clarity can be provided.” — A.M.C. Sy with Bloomberg

PHL shares inch lower on renewed trade concerns

BW FILE PHOTO

PHILIPPINE STOCKS went down on Monday as investors sold index stocks and amid renewed uncertainty caused by the Trump administration’s tariff threat versus the European Union (EU).

The bellwether Philippine Stock Exchange index (PSEi) fell by 0.36% or 23.16 points to close at 6,389.94, while the broader all shares index declined by 0.24% or 9.15 points to 3,737.64.

“The local market closed lower this Monday as investors exited from index heavyweights such as SM Investments Corp., SM Prime Holdings, Inc., and Manila Electric Co.,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

“Concerns over global trade were also reignited following US President Donald J. Trump’s 50% tariff threat against the EU.”

Mr. Trump backed away from his threat to impose 50% tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal, Reuters reported.

Mr. Trump had said on Friday said he was recommending a 50% tariff effective from June 1, expressing frustration that trade negotiations with the EU were not moving quickly enough. The threat roiled global financial markets and intensified a trade war that has been punctuated by frequent changes in tariff policies toward US trading partners and allies.

The US president’s softened stance two days later marked another temporary reprieve in his erratic trade policy, even if the latest whipsawing in decision making reminded policymakers and investors how quickly circumstances could change.

Mr. Trump has sought to upend the world economy with his trade policies, but after his announcement in April of tariffs on multiple countries sparked financial market upheaval, he dialed down his threats in favor of talks. Since then, Washington has inked a pact with Britain and has held discussions with China.

“The PSEi opened the week in the red as investors adopted a wait-and-see stance amid thin trading and a lack of fresh domestic catalysts,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan added in a Viber message.

Value turnover dropped to P4.74 billion on Monday with 486.007 million shares traded from the P6.25 billion with 854.49 million issues exchanged on Friday.

Sectoral indices were mixed. Holding firms dropped by 0.83% or 45.71 points to 5,432.69; industrials went down by 0.67% or 60.63 points to 8,906.94; and property declined by 0.55% or 12.62 points to 2,245.5.

Meanwhile, mining and oil rose by 4.57% or 434.60 points to 9,932.28; services increased by 0.59% or 12.52 points to 2,120.41; and financials inched up by 0.01% or 0.35 point to 2,404.39.

Advancers outnumbered decliners, 102 versus 90, while 50 names were unchanged.

Net foreign selling stood at P639,182.05 on Monday versus the P126.82 million in net buying recorded on Friday. — R.M.D. Ochave with Reuters

Gradual rise in rice tariff proposed for next harvest

REUTERS

THE Department of Agriculture (DA) said it will propose to economic managers a gradual increase in the rice import tariffs by the next harvest.

The DA said it wants the current 15% tariff to be retained until the end of the second quarter to keep rice prices from rising, Agriculture Secretary Francisco Tiu Laurel, Jr. told reporters.

He said the Philippine harvest ended last month.

“I will not increase for now because the harvest in the countries of origin is almost finished,” Mr. Laurel said, adding that any tariff increase should be timed for the harvest seasons of rice exporters.

The government in July 2024 slashed tariffs on rice imports to 15% from 35% until 2028 to keep prices in check. The rate is subject to review every four months.

“We (will make the) recommendation that we can consider increasing it little by little,” Mr. Laurel said. “But it’s a matter of timing.”

Farmer groups, including the Samahang Industriya ng Agrikultura (SINAG), said in a recent petition to the Tariff Commission that the declaration of the food security emergency, which triggered the release of the government’s rice reserves, and the maximum suggested retail price scheme for imported rice were “admissions of the failure” of the reduced tariff rate to bring down rice prices.

The Commission heard the petition in March.

SINAG said the tariff reduction resulted in P15 billion in foregone revenue between July and December 2024.

Mr. Laurel in March said any sudden restoration of the 35% tariff rate for imported rice could lead to market shocks.

Secretary Arsenio M. Balisacan of the Department of Economy, Planning and Development has said that the government is open to a seasonal tariff scheme for rice imports to “stabilize farmers’ incomes.”

Under the proposal of the Federation of Free Farmers, levies would be timed to not clash with the height of the harvest season. — Kyle Aristophere T. Atienza

FDA suspends new application fees

Illustration photo shows various medicine pills in their original packaging in Brussels, Belgium, Aug. 9, 2019. — REUTERS/YVES HERMAN/ILLUSTRATION

THE Food and Drug Administration (FDA) said it suspended the new registration and assessment fees for medical products after legislators said they were modified without sufficient consultation.

In a briefing at the House of Representatives, FDA Director-General Paolo S. Teston said the recommendation to suspend the new fees has been conveyed to Health Secretary Teodoro J. Herbosa, and will take effect after he gives his approval.

“After due deliberation of the management committee of the FDA last week, we have recommended to the Health secretary the suspension of its implementation of the administrative order,” Mr. Teston told legislators.

“The recommendation is to suspend its implementation for a period of 60 days, unless sooner lifted or extended upon the instruction of the Secretary of Health,” he added.

The FDA overhauled its fee structure in December, with changes including a hike in annual licensing fees for drug distributors to P8,000 per year from the previous two-tiered structure that charged P5,000 for an initial license and P10,000 for succeeding years.

“Despite the increase in fees and charges by the FDA, industry stakeholders decried the absence of any palpable improvements in the delivery of the FDA’s services,” Iloilo Rep. Ferjenel G. Biron, who heads the House trade and industry panel, said.

“The exorbitant fees remain a burden to stakeholders as the increase they pay is not commensurate with the services they receive,” he added.

There are about 3,000 permit applications pending with the regulator, FDA Director Maria Cecilia C. Matienzo told the panel.

The delays in the processing of FDA permit applications have a “big effect” on medicine prices, Mr. Teston said, adding that his agency will come up with proposed solutions to clear the backlog.

“We recognize the effect of the slow processing of applications on the market prices of medicine,” he said. “But we’re a regulator, so we also need to ensure that the products entering the market are of quality, safe and effective.”

Meanwhile, the Philippine Chamber of Pharmaceutical Industry (PCPI) urged legislators to draft bills that will encourage the domestic production of medicine.

“We face challenges that hinder competition and growth, including regulatory disadvantages compared to foreign companies that no longer manufacture products in the Philippines,” it said in a document submitted to the House trade and industry panel obtained by BusinessWorld.

It called for express lanes to process the applications of domestically manufactured pharmaceutical products, the PCPI said.

It called for tax incentives for domestic drug manufacturers, such as the removal of value-added taxes and duties on imports of raw materials and pharmaceutical equipment.

The business group also urged legislators to consider adopting some regional regulatory practices like the preferential treatment of domestic pharmaceutical companies, citing the advantages granted to Indonesian, Vietnamese and Thai manufacturers. — Kenneth Christiane L. Basilio

Budget utilization rate hits 92% at end of April

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THE Department of Budget and Management (DBM) said the cash utilization rate posted by government agencies hit 92% in April.

The National Government (NG), local governments, and government-owned and -controlled corporations used P1.49 trillion worth of notices of cash allocation (NCAs) issued as of the end of April.

It was behind the 93% pace set in April 2024.

An NCA is a cash authority issued by the DBM to central, regional and provincial offices and operating units through government banks to cover the cash requirements of the agencies.

Unused NCAs amounted to P132.41 billion out of the P1.63 trillion released.

Line departments used 89% of their allotments or P1.07 trillion, with about P129.41 billion remaining.

In April, only the Commission on Audit had fully utilized all of its NCAs. This was followed by the Office of the Vice-President and the Department of Migrant Workers, which used 99% of their cash.

Meanwhile, the Department of Information and Communications Technology and the Department of Agriculture both had the lowest utilization rate at 66%.

Budgetary support to government-owned companies was 98% used, while the corresponding rate for local government units was 100%.

Government agencies utilized P371.75 billion, posting a 92% usage rate in April. This was lower than the 99% utilization rate in March.

In the first quarter, government spending rose 18.7%, against the 2.6% posted a year earlier and 9% in the fourth quarter. The growth rate was the strongest since the second quarter of 2020.

The NG frontloaded infrastructure spending ahead of the 45-day election ban on public works that started on March 28.

Budget Secretary Amenah F. Pangandaman said disbursements “tend to pick up strongly” in May and June as construction activity peaks. — Aubrey Rose A. Inosante

Bataan-Cavite Interlink bridge construction expected soon

BW FILE PHOTO

THE Department of Public Works and Highways (DPWH) said construction of parts of the Bataan-Cavite Interlink Bridge is set to start before July.

“We are in the process of finalizing the bids and maybe we can begin the construction of two contract packages in a few months, the land-based packages before July,” Public Works Secretary Manuel M. Bonoan told reporters on the sidelines of a briefing on Monday.

The construction of the actual bridge and its main structures will start after the construction of the land-based contract packages, Mr. Bonoan said.

The Bataan-Cavite Interlink Bridge project is estimated to cost $3.91 billion.

In 2023, the Asian Development Bank (ADB), co-financing the project, approved a $2.11-billion loan for the bridge. The government is responsible for the remaining $664.23 million.

The 32.15-kilometer bridge spanning the mouth of Manila Bay connects Bataan and Cavite, and is expected to boost regional economic integration and development.

According to the ADB, the civil works for the Bataan-Cavite Interlink bridge are divided into six contract packages. Contract package 1 or the Bataan Land approach covers 5 kilometers and contract package 2 or the Cavite Land approach covers 1.3 kilometers.

Contract package 3 involves the north and central marine viaducts; while contract package 4 covers the south marine viaducts. Contract package 5 and 6 involve the bridge’s navigational channel cable and high-level approach spans.

Last year, the DPWH said the Bataan-Cavite Interlink Bridge will be operational by 2029. — Ashley Erika O. Jose

Exporters worried about strong peso

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EXPORTERS said the pace of the peso’s appreciation could have negative consequences for their businesses, and added that the industry is currently trying to determine an appropriate and balanced exchange rate.

Philippine Exporters Confederation, Inc. President Sergio Ortiz-Luis, Jr. said the industry group is conducting a “quiet” consultation and plans to convey the resulting consensus to the Bangko Sentral ng Pilipinas (BSP).

“Right now, we cannot determine what to recommend as the assumptions continuously change depending on Trump’s pronouncements,” he added.

He noted that the peso’s strength is also a matter of concern to many Filipinos “because we have a lot of overseas workers.”

As such the BSP really needs to balance the exchange rate… to at least protect the OFWs,” he added.

The peso closed at P55.42 against the dollar on Monday, after finishing at P55.25 on Friday.

Year to date, the peso has appreciated by 4.38% since finishing at P57.845 on the last trading day of 2024.

He called P55.20 a “strong” level for the peso. The currency first strengthened past the P56 level on April 30, when it closed at P55.840.

“For a lot of exporters, it is already strong. I just cannot say (what level it should be) … but we have to balance it with the rest of the economy,” he added.

He said that at the moment, Philexport still expects exports to hit the target set by the Philippine Development Plan (PDP) for 2025 while missing the more ambitious target set by the Philippine Export Development Plan (PEDP), even with US tariff policy upending trade.

Under the PDP, goods and services exports are expected to hit $113.42 billion, while the PEDP forecasts exports of $163.6 billion.

US President Donald J. Trump announced reciprocal tariffs on most of its trading partners, assigning a 17% tariff on Philippine goods, the second lowest in Southeast Asia. These rates have since been suspended, with a 10% “baseline” rate currently in force for most countries.

Mr. Ortiz-Luis said the wearables, furniture, and agriculture industries are expected to take a hit from the tariffs.

“Even before the US announcement on April 2, you have to remember that my industry was already in trouble because we have about 5,850 tariff lines,” according to Confederation of Wearables Exporters of the Philippines Executive Director Teresita Jocson-Agoncillo.

“We are not enjoying any preferential status compared to electronics,” she added.

She said that even without the reciprocal tariffs, apparel exports to the US already face a 17-32% tariff.

“So this is a very critical moment for the industry … But if Cambodia and Vietnam get a (tariff) higher than 17%, then we still can survive. As long as my ASEAN counterparts have a higher number, there is a silver lining,” she added.

Cristjan Dave Bael, Semiconductor & Electronics Industries in the Philippines Foundation, Inc. associate business lead for External Affairs, said the industry has yet to see the impact of the reciprocal tariffs. 

“As of March, we had an uptick of 2%, so it became $3.96 billion, and 15.4% of this goes to the US,” he said.

“We have yet to see the impact in terms of value, but definitely, when Trump announced the tariffs, we already heard from our members that orders increased from the US,” he added. — Justine Irish D. Tabile

PHL wages now highest in region, employers say

PHILIPPINE STAR/ANDY G. ZAPATA JR.

THE Employers Confederation of the Philippines (ECoP) said large wage hikes are no longer workable now that the Philippines has the highest minimum wages in Southeast Asia.

“We are the highest now in ASEAN because of these yearly increases,” according to ECoP President Sergio Ortiz-Luis, Jr., referring to the practice of annual wage fixing by region, which started with the Wage Rationalization Act of 1989 (Republic Act 6727).

Mr. Ortiz-Luis made the remarks days before the employers are to participate in a May 28 wage consultation organized by the Regional Tripartite Wages and Productivity Board (RTWPB) of the National Capital Region (NCR).

Wage hike bills are pending in Congress, with the Senate approving a bill for a P100 daily wage increase in the private sector and the House of Representatives endorsing a P200 across-the-board daily wage increase.

According to Mr. Ortiz-Luis, a legislated wage hike’s benefits are limited, as minimum wage earners account for only 10% of the workforce.

He said that when a P120 wage hike was proposed years ago, the Philippines still had the lowest minimum wage in the region.

“The situation is different now,” he added, speaking on the sidelines of the Philippine Institute for Development Studies forum on Monday.

ECoP said it supports the current regional wage-setting process, as the boards are best-placed to determine appropriate pay settings for a given region.

“It should be based on the inflation study and the economic situation,” he said, referring to the RTWPBs. “There are formulas that they use, a standard they are using. So they should just follow the tripartite (boards) because they are the ones who know it,” he added.

Asked if the ECoP has come up with a position ahead of the consultation, he said, “We will be there without anything in mind.”

RA 6727 gives the RTWPBs the power to determine minimum wages in their jurisdictions, subject to the guidelines issued by the National Wages and Productivity Commission.

The RTWPBs can only adjust minimum wage rates after the anniversary of their previous wage order.

Last year, the RTWPB-NCR issued Wage Order No. NCR-25, which approved a P35 wage increase. — Justine Irish D. Tabile