Bautista says loans of up to P100,000 needed to revive MSMEs

April 24, 2022 by No Comments

UNITEAM senatorial candidate Herbert “Bistek” Bautista has proposed a package of aid to micro, small and medium enterprises (MSMEs) that were battered by the economic impact of the coronavirus disease (Covid-19) pandemic that could include providing up to P100,000 in loans to each enterprise that is trying to reopen.”But let’s not give aid without a condition,” Bautista said.Bautista said the aid should not be given without a condition as he cited similar assistance programs for small businesses hit by the pandemic in Japan, Germany and the United States as examples of what the Philippine government can do for local MSMEs.”For example, I’ll give you P100,000 to restart, but you should hire those employed with you before,” Bautista, who is running on a platform of Internet reform, Livelihood for all and Youth development (ILY) and “Pagkain para sa Pamilyang Pilipino,” said.”Or if you’re just opening, or opening a new business, you must hire these unemployed people,” he said, referring to workers who lost their jobs at the height of the pandemic.The three-term mayor of Quezon City stressed “but we won’t just give assistance without conditions.””In exchange, jobs should be created because we have many countrymen who lost their jobs in the last two years because many businesses closed shop,” he said.Bautista said incentives, aside from aid, would also help bring back MSMEs to life.”If we’re able to do that as a senator, we can help entrepreneurs and our economy would become vibrant again,” he added.In a previous statement, Bautista expressed alarm over the rate of closure of MSMEs.He believed that between 70 and 80 percent of MSMEs that closed at the height of the pandemic remained closed.”When I went around nationwide I talked with the mayors and I asked them: “For every 10 businesses that closed during the pandemic, how many are now reopening under Alert Level 1?””They said in every 10, at least three or two have reopened. That means 80 or 70 percent of the businesses are still closed,” Bautista said.The senatorial aspirant emphasized that there should be priority attention, too, on cooperatives, which he said are among the biggest sources of jobs in the country.”They will create jobs and productivity,” he said, adding that “the important thing, for me, is for them to reopen.”Instead of 70 percent of them closed, let’s go back to 100 percent of them open, Bautista said.”All businesses must reopen to provide many jobs to our countrymen. So it will be an employment opportunity for our people,” Bautista said.He said by fully reviving MSMEs, underemployment can also be addressed which would help strengthen the economy.”Those are the things I see I can do if I become senator of the republic,” the senatorial bet added. (PR)