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Thailand to increase daily minimum wage

Thai Prime Minister Srettha Thavisin on May 7 defended his plan to introduce a nationwide daily minimum wage of 400 THB (10.88 USD) as a necessary move for the economy.

Prime Minister Srettha Thavisin shares his vision in a meeting at the Pheu Thai Party headquarters on May 3, 2024. (Photo: bangkokpost.com)
Prime Minister Srettha Thavisin shares his vision in a meeting at the Pheu Thai Party headquarters on May 3, 2024. (Photo: bangkokpost.com)

Bangkok (VNA) – Thai Prime Minister Srettha Thavisin on May 7 defended his plan to introduce a nationwide daily minimum wage of 400 THB (10.88 USD) as a necessary move for the economy.

Speaking at a weekly cabinet meeting, the PM said Thai workers’ wages have been risen just over 10% over the past 10 years. The wage hike was a key election platform of Srettha's populist Pheu Thai Party, which set a target of 600 THB per day by 2027.

Earlier, the government has said it planned to increase the daily minimum wage countrywide from October, a policy that can help lift consumption in Southeast Asia's second-largest economy, which is lagging peers in the region. The government has raised the minimum wage to 400 THB in several provinces already as a pilot scheme.

To help ease living costs, Srettha also said the government will keep diesel prices at up to 33 THB per litre, adding it will also freeze some LPG prices and reduce some electricity costs.

However, the Thai Chamber of Commerce said it disagreed with the move as it will affect the economy and competitiveness. The shippers council said the hike will stoke inflation./.

VNA
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