SunStar DTI eyes P8K subsidy for MSMEs
FINANCIAL AID. The wage subsidy program for micro, small and medium enterprise workers is part of the government’s P1.14 trillion eight-point employment strategy to revive the country’s Covid-19-battered labor sector. (SunStar file)
+ May 03, 2021 THE micro, small and medium enterprises (MSME) group in Cebu has welcomed the P24 billion wage subsidy intervention of the government saying that this would benefit the sector badly wounded by the impact of the Covid-19 pandemic.
The wage subsidy program seeks to grant an P8,000 wage subsidy per month for a maximum of three months to MSME workers, according to Trade Secretary Ramon Lopez, during the virtual job summit of the Task Group on Economic Recovery-National Employment Recovery Strategy (NERS) on Saturday, May 1, 2021.
The Senate will study the government s plan to provide an ₱8,000 wage subsidy for workers in privately owned businesses affected by the COVID-19 pandemic, Senator Joel Villanueva said.
Published May 2, 2021, 4:50 PM
Senators on Sunday threw their support to the proposed P24-billion wage subsidy program for private sector workers targeted to help small and medium business struggling with the effects of the coronavirus (COVID-19) pandemic.
“I support the proposed wage subsidy for private sector workers. The subsidy will enable small and medium enterprises to retain their employees and prevent further job losses,” Senate Minority Leader Franklin Drilon said in a statement.
“I urge the DBM (Department of Budget and Management) to immediately recommend to the President the realignment of these huge allocations in the budget. there is no harm if we postpone some of these items and use the unutilized and unobligated balances to feed millions of Filipinos who are struggling to put food on the table and keep the jobs of thousands, if not million, Filipinos,” Drilon said.
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