SMC reserves 11.67B pesos as help to government funds amid pandemic

By Leobert Julian A. de la Peña

One of the Philippines’ largest conglomerates is still not done with their help to the country amid the ongoing COVID-19 pandemic.

The San Miguel Corporation (SMC) set aside 11.67 billion pesos as help to the Philippine government, increasing the country’s extra funds in preparation for the ongoing pandemic.

Of the total amount, the conglomerate already gave 8.77 billion pesos to the government while the remaining balance will be given before the enhanced community quarantine ends.

Also, SMC vowed and released 3 billion pesos’ worth of its employees, consultants, and contract workers’ compensation with benefits.

“These are trying times and while we, as a company, are not immune to the challenges of this crisis, the safety and security of our workforce will always come first. We do not want them worrying about their jobs,” SMC president and COO Ramon S. Ang said.

Aside from the 11.67B pesos cash assistance from SMC to the government, they also donated 1B pesos worth of PPE, relief packs, sacks of rice, and alcohol as their first action amid the pandemic.

And recently, SMC partnered with the Department of Agriculture by purchasing 4 million kilos worth of surplus corn to help local farmers’ sustainability.

“We are also aware that we have a huge role to play across industries and we are lucky to be more equipped than the rest to navigate this crisis. That said, we remain steadfast in our commitment to assist the government and continue providing assistance where it’s most needed,” Ang added.