The government has been finding ways to help the micro, small, and medium enterprises (MSME) that are impacted by the economic slowdown as one of the effects of the pandemic.
Both the national and provincial governments are looking for ways to bail out the MSMEs which comprise a huge chunk, in fact, majority of businesses in the country.
A recent example of the intervention by the government is the distribution of livelihood kits to MSME beneficiaries.
Gov. Arthur Yap and the Department of Trade and Industry (DTI) continue to distribute livelihood kits under the national agency’s Livelihood Seeding Program-Negosyo Serbisyo sa Barangay (LSP-NSB) last Wednesday, July 29, 2020.
The latest distribution of livelihood kits is one of the interventions being done to help the MSMEs that have been affected with the Covid response.
Yap with the DTI gathered 50 beneficiaries of the LSP-NSB from 10 barangays in four (4) towns in the third district of the province: namely Alicia, Loay, Lila, and Pilar.
The livelihood kits come either in the form of items the people want to sell- -for those planning to start the sari-sari store business or those with existing sari-sari stores but need additional capital in the form of check or cash voucher which they can use to pay for the goods that they would purchase from accredited stores.
Due to the pandemic, DTI re- evaluated the program “to adapt to the current situation and align with the government’s Covid response programs, making LSP-NSB available to all municipalities”.
For his part, Yap has been supportive on measures regarding the plight of the MSMEs. In the province’s economic stimulus program dubbed as “We Survive As One Bohol” fund, there is a loan facility for MSMEs. People have noticed that this provincial government is concerned about the financial health of the business sector while balancing the needs of public health.
HELP FROM THE CENTRAL VISAYAS GOVERNORS
Governors in Central Visayas (CV) are calling on the national government authorities to provide help to the heavily impacted micro, small, and medium enterprises (MSMEs). This was learned in a report obtained by The Bohol Tribune on Tuesday, July 28, 2020.
CV governors met during an online forum called “Ready to Recover” hosted by the Department of Trade and Industry (DTI). The forum tackled the different plans the governors have to help their respective MSMEs, whose businesses are heavily impacted by the coronavirus disease (Covid) pandemic, to gradually recover.
For her part, Cebu governor Gwendolyn Garcia said that the MSMEs should submit their proposals so that the governors have an idea on what kind of help and intervention can be extended to them (the MSMEs).
Cebu’s tourism industry in the countryside is struggling and there is a need to resuscitate the tourism-related businesses back to their former status, the report said.
Moreover, Yap bared that Bohol is leaning towards the plan of the Department of Tourism (DOT) to put up travel bubbles. Yap added that the national government should allow the MSMEs to stabilize and fully recover.
“This can be done”, Yap said, “with strategic support from government banks through loan restructuring by giving the impacted businesses at least a year to recover.”
For his part, Negros Oriental Gov. Roel Degamo said that his province is focusing on food production and the revival of its tourism industry, too.
Meanwhile, Siquijor Gov. Zaldy Villa wants to promote his province as a safe destination. Siquijor remains to be a Covid-free province.
HELP FOR MSMEs FROM THE PRESIDENT
During the recent State of the Nation Address (SONA), Yap welcomed the pronouncement of President Duterte in line with the plight of MSMEs.
The governor, in a Facebook post on Tuesday, July 28, 2020 pointed out the approval of the Bangko Sentral ng Pilipinas (BSP) to allow loan payment extensions for pending loans taken out by MSMEs without penalties and surcharges.
To remember, Governor Yap governor has pushed the idea of loan payment extension as a way to help MSMEs which are severely affected. This way, the MSMEs could be given a boost of to restart their respective businesses.
The plight of MSMEs is also one of the topics discussed by Duterte in last Monday’s SONA. The President said: “I also enjoin the Bangko Sentral ng Pilipinas and banks operating in the country to provide regulatory relief for our MSMEs, and allow loan payment extensions, without incurring penalties and charges.”
“We need your help to prevent the collapse of companies saddled with accumulated amortizations and payables caused by the closure of their businesses at the height of the strict quarantine periods,” the President added.