MANILA: Department of Trade and Industry (DTI) Secretary Alfredo Pascual has reaffirmed the agency's support to businesses as they may encounter challenges following the increase in minimum wages in Metro Manila. Pascual said the DTI not only welcomes the PHP35 wage hike in the National Capital Region but also acknowledges that businesses, especially micro and small enterprises, may encounter challenges with this adjustments. He said it is crucial to strike a balance between the needs of workers and the sustainability of enterprises. 'The Department of Trade and Industry remains steadfast in its commitment to supporting industries through this transition. We will continue to provide assistance and implement programs that promote business resilience and competitiveness, ensuring that our economy thrives and remains robust,' the DTI chief said Monday night. He added that the DTI will continue to work closely with other government agencies and private stakeholders to monitor the impact of the recent pay hike on businesses. 'By aligning with the latest regional poverty threshold, the wage increase signifies our dedication to equitable growth and economic inclusivity,' Pascual said. 'Together, we aim to foster an environment where both workers and businesses can prosper, driving sustained economic growth and improving the overall socio-economic landscape of our nation,' he added. Source: Philippines News Agency