COMMENTARY: It’s time to heed MSMEs desperate call for help

Every MSME member of Makati Chamber (PCCI-Makati) is truly affected by the prolonged lockdown. This month, Metro Manila was going to end 100 days of quarantine that had eased from being in enhanced community quarantine mode (where no one was permitted to exit their homes but for emergency needs) to the new relaxed general community quarantine (GCQ) mode. MSMEs take up about 99 percent of registered businesses in the country, provide jobs for more than two-thirds of the labor force.

The author, Rey Gamboa, discussed these key points to help MSME recover from the crisis.

  1. It would have been useful if a second installment of the Bayanihan Act were to focus on providing rescue packages for MSMEs through small and big banks.
  2. Tailor-fit assistance will have to be given to each sector that has suffered most during the quarantine period, more so in the coming months under the “new normal.”
  3. The government must continue to make sure that the virus spread is contained and avoid a situation where the current easing will revert to another total lockdown.

Read more Source Philstar

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