Pangilinan bats for P100-B 'ayuda' for pandemic-hit MSMEs

As 90 percent of employment comes from micro, small and medium enterprises (MSMEs), vice-presidential aspirant Senator Francis "Kiko" Pangilinan said he will push for a P100-billion stimulus fund for the country's millions of small entrepreneurs.

During the CNN Philippines Vice Presidential Debate on Saturday, Feb. 26, Pangilinan said he and standard-bearer Leni Robredo will provide financial aid for the MSMEs but with conditions.

"Makakakuha ka ng ayuda kung hindi mo tatanggalin ang iyong mga empleyado so that we can preserve these jobs. Second, kung kukunin mo ulit yung mga tinanggal mong trabahador dahil sa COVID-19 (You can get aid if you will not lay off your employees so we can preserve livelihoods. Second, if you take back your workers who were retrenched due to the pandemic)," he said.

Pangilinan said they have increased the cash assistance to be given to the MSMEs as the P15 billion worth of financial aid approved in the last Congress was "too small."

He likewise emphasized the need to support the MSMEs that have been generating millions of jobs for Filipinos.

"Over 1 million ang ating small and medium enterprises at sila ang pinakamalaking employer (We have over 1 million MSMEs and they are the biggest employer). Also, 90 percent of our employment comes from small and medium enterprises," he explained.

"We really have to support them... para tuluy-tuloy na ang ating ekonomiya ay sumigla (for the continuous revival of our economy)," Pangilinan added.