Thailand to postpone October 1 minimum wage hike, official says
2024.09.23 03:30
BANGKOK (Reuters) – Thailand will postpone a hike in the minimum wage to 400 baht ($12.15) per day scheduled for October 1 by about two weeks due to a lack of a quorum at meetings of the committee working on the increase, a senior labour official said on Monday.
The committee, which includes representatives from employers, labour and the government, had failed to reach a quorum at two previous meetings to discuss the planned hike, Labour Ministry permanent secretary Pairoj Chotikasathien said.
“We will move forward as quickly as possible,” he said, adding the new minimum wage would only apply to businesses that employed more than 200 people.
The increase in the minimum wage from the current range of 330 baht to 370 baht per day was part of the ruling Pheu Thai party’s campaign platform, and it has pledged to increase it further to 600 baht by 2027.
The planned hike is part of the government’s drive to spark growth in Southeast Asia’s second-largest economy, which has been held back by soaring household debt and a slowing manufacturing sector.
The government’s flagship policy is a 450 billion baht stimulus scheme, where people will be given 10,000 baht each to spend in local communities. The first phase is set to begin before the end of the month. The central bank expects the economy to grow 2.6% this year, up from 1.9% in 2023.
($1 = 32.92 baht)
