MANILA—Atty. Harry Roque, a human rights lawyer, and returning presidential spokesperson in a press briefing in Malacanang Tuesday said the government would allocate some Php 51 billion to support Micro, Small and Medium Enterprises (MSMEs), which are mostly owned by the so-called “middle class” in the country. Roque replaced Atty. Salvador Panelo who is lead legal counsel of the president.
Rogue said the fund will be made available to some 3.4 million business people in the country. “This will be in the form of subsidy for affected business establishments to support their workers and to help them carry-over with the crisis. Dagdag ito sa supporta na natanggap na nila tulad ng extension of filing of business tax, credit payment extension, and deferment of rental payments” Roque said.
According to Rogue, the government has offered three packages for the middle class. These are the business wage subsidy, government’s guarantee of their credit, and enhanced credit/funding support.
Under the first package, the government may provide aid in the amount of Php 5,000 to Php 8,000 per employee, aside from the Social Amelioration Program, which is intended for the poorest of the poorest sector of society and being managed by the Department of Social and Welfare and Development.
The second package gives guarantee to MSMEs for their loans. This will ensure that credit ratings of MSMEs will not be affected and that they are capable of paying their obligations. Meanwhile, the third package will be in the form of funding or soft credit support from Php 38 million to Php 51 million each that will tie them over until the business climate returns normal.
