webfact Posted December 10, 2019 Share Posted December 10, 2019 Minimum wage increase not to affect product prices: Commerce Ministry BANGKOK (NNT) - The Ministry of Commerce has elaborated on an increase in commodity prices, saying it is related to many factors in addition to wages. The ministry is meanwhile, set to deploy officials to prevent unreasonable price increases. On the 6th December, the national wage committee approved a minimum wage increase of 5-6 baht, raising daily minimum wages across the country to 313-336 baht effective from 1st January 2020, pending Cabinet’s approval. On this matter, the Department of Internal Trade’s Deputy Director General Prayoth Benyasut, said today the Ministry of Commerce is confident the wage adjustment won’t cause an increase in commodity prices, as any such increase must take into consideration other costs such as energy, logistics, raw materials, and currency exchange rates and duties in the case of imported products. He said no manufacturers have requested an increase in pricing following the new wages announcement, while local commercial affairs offices have not yet come across any increase in commodity prices. The ministry is deploying officials to monitor commodity pricing closely. The director of Rangsit University’s Economic and Business Research Centre for Reform, Anusorn Tamajai said today this minimal increase in minimum wages won’t have any significant effect on overall purchasing power, but will increase the financial burden on smaller businesses. He suggested the government implement hourly minimum wages, which should be higher than the daily amount divided into hours, such as 50 baht per hour, while at the same time workers must improve their skills and adjust to technological changes. -- © Copyright NNT 2019-12-10 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
pegman Posted December 10, 2019 Share Posted December 10, 2019 ฿5 a 12 hour shift increase won't increase prices. How generous. Link to comment Share on other sites More sharing options...
webfact Posted December 10, 2019 Author Share Posted December 10, 2019 Department of Internal Trade to keep a close watch on prices of essentials By THE NATION Whichai Phochanakij The Department of Internal Trade has been monitoring impacts on the prices of products following the government’s announcement on Friday (December 6) that the legal minimum wage will be increased from Bt325 to Bt331 per day on January 1, 2020, Whichai Phochanakij, the department’s director general, revealed. “Any impact on products’ prices is very small with an average around 0.006 per cent to 0.6 per cent,” he said. The products affected by a rise of 0.6 per cent are school uniforms, vinegar, baby powder, bulbs, tyres, Portland cement, plastic bags, and chemical fertilizer. “The school uniform showed the most impact,” Whichai added. Meanwhile, those products affected slightly or around 0.006 per cent were toothpaste, milk powder, refrigerators, small trucks, steel sheets, lubricants, pet food, and student’ shoes. “Amongst these, toothpaste showed the slightest impact” he said. He added that the increased wage will not affect retail prices of products or cooked-to-order food. “I have ordered provincial officers to check stores to prevent entrepreneurs from taking advantage of the increase in wages,” Whichai added. “Although some entrepreneurs have asked to increase their prices, I will absolutely not allow them to do so,” he confirmed. Source: https://www.nationthailand.com/news/30379264 -- © Copyright The Nation Thailand 2019-12-10 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
RichardColeman Posted December 10, 2019 Share Posted December 10, 2019 I sense a Commerce Ministry directive to ask for free 10 minutes overtime per day from each employee to make up for it. These guys pay more for a coffee than the people they are talking about earn in a day Link to comment Share on other sites More sharing options...
ChrisY1 Posted December 10, 2019 Share Posted December 10, 2019 The rise is a whole 6 baht/day...the usual greed from the elite! Link to comment Share on other sites More sharing options...
nev Posted December 10, 2019 Share Posted December 10, 2019 I can see our western food being increased again. Link to comment Share on other sites More sharing options...
Srikcir Posted December 10, 2019 Share Posted December 10, 2019 6 hours ago, webfact said: “Any impact on products’ prices is very small with an average around 0.006 per cent to 0.6 per cent,” Didn't he just make the case that the minimum wage increase is immaterial? It has no affect on consumer purchasing power! Link to comment Share on other sites More sharing options...
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