BUSINESS leaders in Cebu have met with Trade Secretary Ramon Lopez to tackle immediate concerns like their request for additional financial support from the government.
“They requested for an equitable share in the coming stimulus package,” DTI Assistant Secretary Asteria Caberte said.
The groups appealed through a joint statement for more financial support from the government as Cebu City remains under stricter lockdown until July 15.
Caberte said the business groups raised concerns over the high power and shipping rates. They also appealed for lower interest rates in banks so the micro, small and medium enterprises can recover.
“Businesses that were allowed to reopen during our brief general community quarantine (ECQ) status are now forced to close again because of the rising cases, with losses building daily. While the business sector very much understands and agrees that public health comes first during this pandemic, this continued ECQ in Cebu City has left us with no choice but to either let go of or keep employees in various modes of flexible arrangements as we close business operations either temporarily or permanently,” the groups said.
The joint appeal was represented by the Cebu Chamber of Commerce and Industry, Mandaue Chamber of Commerce and Industry, Cebu Filipino-Chinese Chamber of Commerce, Mepzcem Chamber Inc., Philippine Retailers Association Cebu Chapter and the Hotel, Resort and Restaurant Association of Cebu.
Meanwhile, the Department of Finance called for the balance between restarting the economy and safeguarding the lives of Filipinos as the country continues to grapple with the effects of the Covid-19 pandemic.
Finance Secretary Carlos Dominguez III said the “government will never take the threat posed by the Covid-19 pandemic lightly, as it must continue protecting lives in ways that do not prevent people from earning a living.”
“This is a tough decision to make, but we need to do this. Revving up the economy essentially means raising consumer and investor confidence, which requires some functional level of interaction among groups and individuals,” he said during the pre-State of the Nation Address forum hosted by the government’s economic cluster.
The government’s economic team is pushing for the further reopening of three regional economies that contribute up to 70 percent of gross domestic product. These are Metro Manila (or National Capital Region), Calabarzon and Central Luzon. (JOB)