BANGKOK, 31 January 2013 Labor Minister Padermchai Sasomsap said it was too soon to evaluate the pros and cons of the 300-baht minimum wage policy, which took effect nationwide on January 1st.
According to the minister, it is too premature to conclude whether the implementation of 300-baht daily minimum wage is good or bad, since it has only been in effect for just one month; and it would take at least 12 months for the ministry to assess the consequences of the wage hike. However, he has reaffirmed that the hike is not the main reason why a number businesses have shut down, saying most of the entrepreneurs have already adjusted themselves to the new rate since last year.
In response to reports of businesses shutting down, the minister said it was internal factors that forced them to close their doors as they had long been in the red before the 300-baht wage policy took effect.
He further stated that the Labor Ministry would press ahead with its human resources development and training programs in order to produce more workers in areas where they are needed.
