No delay to wage hike

He said that the increased wage will help stimulate the economy, as higher income would push up purchasing power.

Federation of Thai Industries Chairman Payungsak Chartsuthipol retorted that if the policy is imposed without any postponement, the manufacturing sector would revise its plan to set up a fund. Earlier, on expectation for a delay in higher wages, the FTI considered setting up a Bt70 billion fund. The fund will be distributed by companies, which expect to benefit from the government's policy to cut corporate tax rate from 30 per cent to 23 per cent next year.