Positive government intervention will be needed to help micro, small, and medium enterprises (MSMEs)--which account for a huge chunk of the local labor force--recover from the effects of the coronavirus disease (COVID-19) pandemic.

Senator Panfilo Lacson, Partido Reporma standard-bearer, said this would be done in a Lacson administration instead of overregulation, where rules and restrictions keep the private sector from fully contributing to Philippine economic recovery.

Lacson noted these MSMEs account for at least 99.5 percent of our enterprises and 63.2 percent of our labor force.

"Pag mag-intervene ang gobyerno, patulong hindi pabawal (If the government is to intervene, it should be to help the private sector, not restrict it)," Lacson said in a recent interview on DZRH radio.

Should he win in the May 2022 national elections, Lacson said he would implement comprehensive and targeted financial packages for MSMEs while complementing the efforts of the private sector.

He said some private companies such as the SM Group have a philanthropist attitude where they give additional loans to their suppliers, many of which are MSMEs. These loans allow them to restructure and recover from the economic effects of the pandemic.

On the part of the government, Lacson noted there are government financial institutions that are in a good position to help the MSMEs.

"Maraming pamamaraan, pero dapat ang gobyerno doon mag-i-intervene positively (There are so many ways to help, but the government should intervene in a positive manner)," he said.