MANILA, Philippines — Around 5,000 companies will receive cash grants under the Makati government’s economic stimulus program, Mayor Abby Binay said yesterday.
The companies have filed online applications for the Makati Assistance and Support for Businesses (MASB) program at www.proudmakatizen.com.
Binay encouraged traders, including those whose head offices are outside Makati and those with valid business permits and with no tax obligations to apply for the program until Dec. 31.
She said firms that employ city residents with relocation sites in Calauan, Laguna and San Jose del Monte in Bulacan could receive cash grants ranging from P10,000 to P100,000.
City-based businesses owned or not owned by a Makati resident, but employ city dwellers would also receive cash assistance.
In exchange for the cash aid, the local government would require the companies to continue operating in the next two years, refrain from firing employees who are Makati residents and comply with ordinances and safety protocols.
“The MASB program aims to provide funds to businesses, boost the local economy and promote the employment of Makatizens, especially those affected by the COVID-19 pandemic,” Binay said.
The city government has approved the release of P2.5 billion as economic stimulus package.