2021 is challenging year, biz exec says

By Dolly Yasa

 

BACOLOD City – Metro Bacolod Chamber of Commerce and Industry executive officer Frank Carbon foresees 2021 as a challenging year for the government’s Economic Recovery Program.

Carbon said that they are waiting for the implementing rules and guidelines of Bayanihan Act 2.

He said that with the passage of the Financial Stimulus Fund, the government should design a portfolio for the recovery of the business sector and its workers.

 

“The MBCCI hopes that the government will pour in money first to fuel the purchasing power of workers through the creation of jobs in coordination with the local government units like the cash-for-work program. It should be a labor-intensive program so that more people can work,” Carbon said.

 

He added that after the creation of jobs with intensive labor, the next is the financial structure for the small business sector.

The MBCCI official is hoping that the Implementing Rules and Regulations of the Bayanihan Act 2 will include the lowering of corporate tax from the present 30%.

 

“If the purchasing power is established brought by generation of jobs, the domino effect will be income to the micro and small businesses.” Carbon added.

 

“Banks should also design economic recovery measures with very low or zero interest loans,” he stressed.