Presidential Adviser for Entrepreneurship Joey Concepcion urged the government's pandemic task force to downgrade the National Capital Region (NCR) to Alert Level 2 because the Philippines will "lose a lot" if this move will not happen.

Concepcion made the statement after the Inter-agency Task Force (IATF) for the Management of Emerging Infectious Diseases decided to extend Metro Manila's coronavirus (COVID-19) Alert Level 3 status until November 14.

In a statement on Sunday, October 31, the Go Negosyo founder said businessmen were prepared for the possibility that the IATF would extend Alert Level 3 for the NCR but warned of consequences if restrictions will not be eased.

"But starting November 15 until the end of the year, we have to be on Alert Level 2 or we stand to lose a lot," he said.

Despite this, Concepcion said that even though the IATF is being cautious by extending the Alert Level 3 status, the body is quite aware that a lot is riding on the economy opening up by November 15.

He cited the increased vaccination rates and the decline in new cases in NCR. He said this will protect the population even if restrictions in Metro Manila will be eased.

"The Christmas and election spending will act as a stimulus to many businesses. For a lot of people, it will give them hope that 2022 will be better,” he said.

"With hope, we can look forward to an Alert Level 1 status by the start of the year," he added.

"We followed the data and we had the cooperation of the mayors. We saw the cases go down. We have been patient, and our request now is to open up by November 15 and lower the NCR to Alert Level 2," he continued.

Meanwhile, Concepcion said that the move to Alert Level 2 is necessary to save the fourth quarter, the period when businesses can make up for their losses because of the COVID-19 pandemic.

"We called for an early lockdown in the first week of August to save the fourth quarter. That was quite unusual for the business sector, but we saw that the cases actually went down in October. Now we are urging the IATF to move the NCR to Alert Level 2 by November 15," he said.

Concepcion also cited the National Economic Development Authority (NEDA)’s projections that should the national government place the NCR under Alert Level 2, the country’s gross domestic product (GDP) would gain P3.6 billion and some 16,000 jobs would be recovered.

Under Alert Level 2, outdoor activities of businesses with a safety seal would be allowed 80 percent capacity. He said this is necessary so employers can give their workers the mandated 13th-month pay.

"A lot of workers are also counting on receiving their 13th-month pay this quarter, but how can employers give them that if there is no additional capacity?" he asked.

"What we are seeing is that cases are really on their way down... NCR has already vaccinated 85 percent of its eligible population, so the risk is really low," he added.

The IATF has extended the Alert Level 3 status for the NCR, which meant that social events, indoor businesses, and personal care services may operate at 30-percent capacity while outdoor activities are allowed 50 percent capacity, with an additional 10 percent if they have a safety seal.