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Manila Bulletin devider Philippines devider Revival of MSMEs a must, says Lacson

Revival of MSMEs a must, says Lacson

Published Apr 8, 2022 08:22 am

Independent presidential candidate Sen. Panfilo "Ping" Lacson has emphasized that reviving the country’s micro, small, and medium enterprises (MSMEs) should be the government's priority in tackling the problem of unemployment.

Lacson pointed out that MSMEs are still recovering from the lockdowns triggered by the Covid-19 pandemic, even as they now face new challenges such as rising costs of fuel.

"Buhayin ang MSME, yan ang biggest supplier of labor. Yan ang unang bumagsak so kailangang buhayin (We should revive our MSMEs which are the biggest supplier of labor. Our MSMEs should be the first to be revived)," he said in an interview in Bogo, Cebu on Thursday, April 7, when asked how he would address the problem if he were elected president.

He noted that MSMEs account for 99.5 percent of Philippine enterprises, and 63.2 percent of the labor force.

The Philippine Statistics Authority (PSA) said Thursday that unemployment rate in February was at 6.4 percent. This meant that some 3.13 million were unemployed in February 2022.

If he is elected into office, Lacson said he would ensure easier access for MSMEs to financial assistance.

Earlier, he and his vice presidential candidate Senate President Vicente "Tito" Sotto III vowed to set up a mechanism for this.

According to Lacson, various government agencies have at least 20 programs including microfinancing and credit facilities, but MSMEs may not be aware of them.

"Iniisip namin ni SP, i-streamline natin (Senate President Sotto and I are thinking of streamlining all these)," he said.

Lacson also said his administration would set up programs for skills matching, such that the basis of employment would be one's skills and not age or “disability".

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MSMES revival 40822 panfilo ping lacson vicente tito sotto III
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