SMC sets ₱11.67 B for gov’t taxes; vows full pay for workers

Published April 27, 2020, 12:00 AM

by manilabulletin_admin

By James A. Loyola

San Miguel Corporation (SMC) is setting aside a total of ₱11.67 billion to pay government taxes and fees while committing to grant full-time pay to all its employees and extended workforce as the enhanced community quarantine (ECQ) remains in effect.

SMC President and Chief Operating Officer Ramon S. Ang
SMC President and Chief Operating Officer Ramon S. Ang

This is as the firm continues to work round the clock mobilizing resources to help address the larger societal and economic impact of the COVID-19 crisis.

SMC said it is allotting ₱11.67 billion in tax, concession and contractual payments throughout the quarantine to make available funds needed to respond effectively to the challenges of the pandemic.

Of the amount, SMC has already paid government ₱8.77 billion, while the remaining balance will be remitted before the end of the ECQ.

Meanwhile, it has released full compensation with benefits amounting to over ₱3 billion for all its 66,557 employees, consultants and contract workers.

“These are trying times and while we, as a company, are not immune to the challenges of this crisis, the safety and security of our workforce will always come first. We do not want them worrying about their jobs,” SMC president and COO Ramon S. Ang said.

To all SMC employees, Ang said: “I am truly proud of the hard work that you, most especially our front liners, have been doing in the midst of the challenges: delivering essential goods and services that are critical in this battle. Please continue to adopt our malasakit mindset and focus on what we, as individuals, can do to make a difference, because many are counting on us.”

He added that, “We are also aware that we have a huge role to play across industries and we are lucky to be more equipped than the rest to navigate this crisis. That said, we remain steadfast in our commitment to assist government and continue providing assistance where it’s most needed.”

To date, SMC and the businesses under it, have provided assistance of over P1 billion in the form of cash, food, flour, disinfectant alcohol, fuel, free toll and personal protective equipment (PPE) donations to vulnerable communities and front liners.

It has also built emergency quarantine facilities together with the Armed Forces of the Philippines (AFP) to help ease the pressure on health facilities flooded by patients needing intensive medical treatment resulting from the pandemic.