Connect with us

Economics

5.5 million Thai workers to receive Bt300/day minimum wage

Some 5.5 million workers in Thailand, employed in factories, trade and services sectors are entitled to receive the governments minimum wage of Bt300/day, according to the Ministry of Labour and Social Welfare.

Avatar

Published

on

Thai contruction workers Chitlom

Some 5.5 million workers in Thailand, employed in factories, trade and services sectors are entitled to receive the governments minimum wage of Bt300/day, according to the Ministry of Labour and Social Welfare.

Loading...

The figure was disclosed to Federation of Thai Industries FTI chairman Payungsak Chartsuthipol in an informal discussion with ministry permanent secretary Somkiat Chayasriwong and Skill Development Department director-general Jiraporn Kesornsujarit.FTI agreed with the wage rise, the chairman said, but informed the ministry it should have strategies affecting entrepreneurs the least, particularly small and medium-sized entreprises SMEs, while asking the Labour Ministry to allow SMEs wage rise for tax deduction.

Thai contruction workers Chitlom

Some 5.5 million people working in factories, trade and services sectors are entitled to receive the government's minimum wage of Bt300/day, according to the Ministry of Labour and Social Welfare.

FTI also wanted the adjustment period of 3-4 years for the wage hike in order to adapt with the market mechanism. However, the labour ministry has not responded to this request. The two organisations initially agreed to work together to prepare labours readiness with, for instance, an orientation for new workers and skill development training for existing workers, while increasing labour potential would be a medium-term strategy.

The Labour Ministry and FTI still differently define income, Mr Payungsak said.The ministry views it as the daily wage, whereas FTI sees it should include other welfares offered to workers in regards to the earning. As many entrepreneurs already provide some welfare to their workers, the chairman viewed they would face difficulties in adjusting the wage and did not agree if any existing welfare was to be cut.

via 5.5 million workers entitled to Bt300/day minimum wage.

The private sector has expressed its concern over the plan of the new Pheu Thai-led government to raise minimum wage to 300 baht per day across the country, saying that the measure will prompt an increase of 140 billion baht a year to the capital labor cost.

Thai Chamber of Commerce TCC Vice-Chairperson Pongsak Assakul said the domestic private sector and a number of foreign investors have already been worried about the huge impact from the upcoming government’s policy on the production cost.

Higher wages will do Thailand much good

The recent debate over proposed changes to the statutory minimum wage in Thailand demonstrates the central importance of wages in a society and economy. Indeed, this may be an ideal opportunity for workers, employers and government to discuss the bigger picture of wages in general _ not only minimum wages _ and the policies that determine them.

Wages are at the heart of the International Labour Organisation’s mandate. The ILO believe it is timely to offer some dispassionate views on wages in Thailand based on facts and figures available, and with reference to international labour standards developed over the past 90 years by member states, including Thailand, which is a founding member.

Economics

The Future of Asia: greener but with a public and private debt hangover

The COVID-19 pandemic has been a perfect storm, destroying jobs, worsening poverty and inequality, and creating a public and private debt problem—especially for countries and firms already in fragile financial health beforehand

Avatar

Published

on

The Sydney Opera resumed live performances and the city of Melbourne recently hosted the Australian Open tennis tournament with fans (mostly) in attendance.

Loading...
(more…)

Continue Reading

Economics

50:50 campaign may not get immediate extension

National News Bureau of Thailand

Published

on

logomain

Loading...

BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.

The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.

Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.

The campaign has already been extended once, with the current end date set for 31st March.

The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.

The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.

Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.

Source link

Continue Reading

Economics

Customs Department Considers Measures to Help SMEs

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – The Customs Department is seeking ways to reduce the impact of the exemption on import tax and value-added tax (VAT) for imported goods worth up to 1,500 baht, as such measures are hurting small and medium-sized enterprises (SMEs).

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,958 other subscribers

Latest

Trending