Continued financial flows, food availability vital for economy, people

Quarantine is necessary, effectively implemented, to stem the spread of COVID-19 and its dire economic consequences on two sectors needed to be mitigated: 

1. LAID-Off workers who need continuity of income flow for food and medicines. When employers run out of liquidity, the government must step in. Mechanics to implement could be as follows: 

a) Companies who submitted lists of laid-off employees to DOLE can be counter checked by SSS records. 

b) Only COVID laid-off employees as submitted to DOLE are to receive P7k per month allowance for food and medicines until their companies re-employ them or they find new work. Other programs for the unemployed (non-COVID) to continue separately. 

c) Distribution of P7k per laid-off employee can be paid through their companies who were forced to lay them off. 

d) Companies to get the laid-off P7k COVID allowance from their banks that the government will use as conduit. 

e) The availability of basic food must likewise continue to flow and be accessible to all. 

2. COMPANIES on SHUTDOWN, will still need to pay for other fixed overhead; and be financially capable to continue a skeleton force, and to re-HIRE laid off or new workers immediately when the time comes. Mechanics to implement could be: 

a) Company business stimulus funds are given directly to companies also by banks, based on their ITR forms submitted (2018 or 2019). 

b) The company stimulus fund amount to be 3 months of the annual fixed expenses as per ITR submitted for 2018 or 2019. 

c) Companies who have enough cash liquidity need not partake of the business stimulus funds.

We may also look at the other business stimulus packages of other countries and their unemployment mitigation measures as added insights. 

A separate Special Program for Healthcare Frontliners and other needed workers, must also be set-up. 

Together, the worst of times brings out the best in the Filipino. – Jose Fernando Alcantara, Executive Director; Jose Luis Yulo Jr., president, Chamber of Commerce of the Philippine Islands