Incentives to help in recovery


    Business leaders yesterday urged the national government to continue providing incentives, give focus on agriculture and accelerate automation to help in the revival of the economy amid the pandemic.

    In a three-pronged resolution submitted to the Office of the President at the close yesterday of the Philippine Business Conference, the Philippine Chamber of Commerce and Industry (PCCI) noted the importance of providing longer-term fiscal and non-fiscal incentives to companies in ensuring the recovery of businesses to continue providing employment.

    These incentives PCCI said, could come in the form of financial measures for micro, small and medium enterprises such as loan windows, wage subsidy and suspension of loan amortization as well as loan restructuring.

    PCCI also noted the need for the national government to accelerate the automation and digitalization of government procedures. This would also include measures that would ensure government agencies’ compliance to the Ease of Doing Business Law.

    The group called on the the Department of Information and Communication Technology and the National Telecommunication Commission to exercise their oversight functionsto deliver better services and connectivity at an affordable price.

    PCCI said both agencies should mandate the common use of facilities and impose appropriate sanctions for non-complying telecom companies.

    The last resolution calls on the national government to provide agriculture and aquaculture sectors with input subsidies and access to research and development and technologies to improve production outputs and ensure an adequate and continuous food supply.

    PCCI proposes that the agency sets aside at least 40 percent of Agri-Agra credit facilities for business start-ups and support for local enterprises that complement fishers’ incomes.