CCCI appeals to government: Intervention sought to ease Covid-19 impact to SMEs

CEBU, Philippines —  The Cebu Chamber of Commerce and Industry (CCCI) has appealed to the government to come up with necessary measures and ways to help businesses stay afloat amid the crippling impact of the Covid-19 outbreak.

In a position paper, signed by CCCI president Virigilio Espeleta, the Chamber asked the Duterte government as well as concerned agencies to cushion the impact of the virus crisis to the Small and Medium Entrepreneurs (SMEs), such as providing economic stimulus package, tax rebates and incentives.

CCCI suggested that some financial regulations, particularly lenient tax regulation on affected businesses should be implemented.

“Undoubtedly, the battle against the Covid-19 will be very costly; but in the spirit of responsibility, solidarity and cooperation, we must make our own sacrifices and take immediate action to protect the vulnerable sector and support the disadvantaged communities of our country in this trying time,” CCCI’s position paper stated.

Likewise, CCCI, which is the largest business community in Cebu, also asked all sectors of the business community and the government to unite and work together in taking drastic measures that can contribute to curtail this outbreak and mitigate its associated social, economic and business disruptions.

“We trust the proper authorities are doing its best to contain and prevent the spread of virus in our country; but while we let them take charge of this threat, we in the business sector must do our part to maintain social and economic imperatives in the midst of disruption,” it added.

While, the business sector urged the government to devise ways to help the business sector, the group also called on businesses to collaborate with stakeholders in finding ways to help each other survive by reaching a consensus on how they could collectively move forward.

CCCI specifically called sectors like the management sector, the labor sector, banking institutions, the utility companies, commercial space owners and industry players, to joined hands in supporting each other as the outbreak is slowly hurting the local economy.

According to the World Health Organization’s (WHO) latest situation report, over 76,700 confirmed cases of Covid-19 infection have been reported worldwide, mostly in China but also now in 26 other countries. Seoul reported an eightfold increase in cases over four days, with 430- plus people in South Korea now infected.

Two fatalities in northern Italy and four in Iran added to the grim death toll, which now counts over 2,240 globally.