The Thai private sector, inclusive of prominent corporations, SMEs and small enterprises, called on the coalition government to reconsider its campaign promise of increasing the minimum daily wage to 450 baht ($13.5).
They argue that labour costs already account for about a quarter of total expenses, especially for SMEs.
This proposed hike would, therefore, compound the financial burden businesses bear.
In addition to these labour costs, enterprises recovering from the Covid-19 pandemic are requesting measures to mitigate escalating electricity costs, adding another 5% to their overall expenses.
Sombat Hongpaitoon, CEO of KT Restaurant, underscored the urgency of addressing these rising utility costs.
Alongside businesses, the Thai Chamber of Commerce (TCC) is also advising the incoming government to scrutinise the minimum wage rise plan.
Tawatchai Setjinda, TCC chair, noted that such an increase might primarily benefit migrant workers rather than Thai skilled labourers.
