DTI distributes cash cards to Mandaluyong MSMEs

Published June 28, 2022, 11:35 AM

by Patrick Garcia

The Department of Trade and Industry, in partnership with the Mandaluyong City local government, distributed cash cards to micro, small, and medium enterprises (MSMEs) operating in the city as part of its efforts to help the business sector recover from the adverse economic effects of the Covid-19 pandemic and skyrocketing prices of basic commodities.

Mandaluyong City Mayor Menchie Abalos, together with DTI-NCRO Area 3 Division Chief Elma Viray , led the distribution of the cash cards worth P10,000 to 1,000 MSMEs at the City Hall Executive building on Monday, June 27.

During the ceremonial distribution, 10 micro and small business owners from Barangays Plainview and Hagdan Bato Itaas were the first to receive the cash cards under DTI’s Negosyo Serbisyo sa Barangay – Pangkabuhayan para sa Pagbangon sa Ginhawa (NSB-PPG). The recipients were mostly owners of sari-sari stores and eateries.

“Our greatest thanks to DTI for continuously supporting our MSMEs,” Abalos said.

“The cash cards are a big help to fund small businesses here especially now that prices of raw materials are starting to rise. A big thanks again to DTI Secretary Mon Lopez for being a ‘big brother’ to our MSMEs,” she added.

At the height of the pandemic, the city was also a recipient of the same program where Secretary Lopez led in the distribution of cash cards worth P8,000 each to some 200 MSMEs.

In a report by the Philippine Statistics Authority dated June 7, inflation, or the rate of increase in the prices of goods and other commodities in the National Capital Region (NCR), increased further to 4.7 percent in May 2022, from 4.4 percent in April 2022. In May 2021, inflation in the region was observed at 2.6 percent.

The higher inflation in the area was mainly due to the higher annual increase in the food and non-alcoholic beverages index at 4.6 percent in May 2022, from 3.4 percent in the previous month.

Also, contributing largely to the uptrend of inflation in NCR was transport with an inflation rate of 13.8 percent in May 2022, from 12.3 percent in the previous month.