Senator Sherwin Gatchalian proposes the grant of concessional capital to revive micro, small and medium enterprises (MSMEs) which have been hard hit by the pandemic.
Gatchalian said at a forum hosted by the Federation of Filipino Chinese Chambers of Commerce & Industry Inc. (FFCCCII) on Tuesday he favors concessional capital with low interest rates and longer payment terms for MSMEs.
Gatchalian said this will truly help MSMEs instead of granting regular loans since most have either shuttered or downscaled their operations.
Gatchalian said MSMEs provide the bulk of jobs nationwide, and thus deserve the assistance from government.
Gatchalian also said he continues to advocate for lower electric power rates for consumers and businesses as well as the automation of the processes in the Bureau of Customs to solve the pernicious problem of smuggling.
He agreed with the Filipino-Chinese entrepreneurs that smuggling is a menace which lessens government revenues, breeds corruption and threatens legitimate domestic industries.
While FFCCCII president Dr. Henry Lim Bon Liong reiterated his optimistic forecast of 6.5 to 7.5 percent growth for 2022 due to solid macroeconomic fundamentals and positive monetary reforms, Gatchalian believes “7 percent is a tall order” due to the recent global Omicron surge.
