CP, Bangchak support wage hike policy

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BANGKOK, 25 August 2011 – CP Group and Bangchak as well as other listed companies are taking the lead in showing support and readiness to increase the daily minimum wage to 300 baht and the salary for fresh graduates to 15,000 baht in response to the government policy.

According to Deputy Prime Minister and Commerce Minister Kittirat Na Ranong, the minimum wage increase and salary hike policies will be implemented on 1 January 2012. Many private companies such as CP Group and other listed companies are ready to follow suit.

The decision in other business sectors will depend on the consideration of the tripartite panel, which will convene for wage adjustment according to normal legal steps. Under this procedure, the rate of adjustment will be made in conformity with the readiness of industries and will be gradually raised until it is equal to the government-stipulated wage.

Meanwhile, Bangchak President Anusorn Saengnimnuan announced that his company will increase the daily minimum wage for petrol station employees from 250 baht a day to 300 baht. He said the wage hike will be made together with operational efficiency development.

The president admitted that doing so will increase the operating cost by 0.07 baht per litre of oil, and the company itself will shoulder this burden but will add partial cost to the oil prices.