BY MARCHEL P. ESPINA
Tuesday, April 21, 2020
The business sector in Negros Occidental has drafted a proposal that will help reduce the impact of the coronavirus disease 2019 to the local economy.
Frank Carbon, Metro Bacolod Chamber of Commerce and Industry chief executive officer, said yesterday that one of the biggest concerns of the COVID-19 crisis is its impact to small businesses and knock-on effect of unemployment.
He added there are efforts to support small and medium businesses and those affected through multiple channels.
The business sector has recommended actions for the local government and government agencies to implement “to financially stimulate the economy” and “address the growing economic crisis” caused by the Covid-19 pandemic.
For local government units, the business sector is proposing that they offer financial support to small businesses, self-employed individuals, and women entrepreneurs, as well as cut rental rates and implement a moratorium on unpaid rent in public markets and business complexes.
LGUs should not increase business and real property taxes, and also impose a moratorium on the payment of these levies, the proposal added.
The national government should start spending again on labor-intensive projects such as the “Build, Build, Build”, and to offer financial assistance to distressed companies and self-employed individuals.
Carbon said there are available sources of financial aids that small businesses can avail of from the Development Bank of the Philippines, LandBank of the Philippines, and micro-financing institutions.
He called on the public to hang on as various measures are also being drawn up by the provincial government.*
