Bayanihan 2 hopes to help MSMEs stay in business

QUEZON City Rep. Alfred Vargas is hoping that more micro, small and medium enterprises (MSMEs) will stay in business through the wide array of assistance provided to them under the proposed Bayanihan to Recover as One Act.

Vargas said the provisions of the Bayanihan 2 for the grant of low-interest loans to MSMEs and 30-day grace period for commercial loans will go a long way in helping entrepreneurs continue their businesses.

“Trabaho ang isa sa mga pinaka-kailangan ng ating mga kababayan sa ngayon. Kung mas maraming MSMEs ang bukas, mas maraming Pilipino ang magkakaroon ng trabaho,” said Vargas.

Vargas acknowledged that the P165.5-billion stimulus package is not enough to help the economy recover from the brunt of the coronavirus disease-19 (COVID-19) pandemic. However, he said the Bayanihan 2 bill’s passage is a timely intervention.

“The Bayanihan 2 bill is aimed at providing immediate relief to our MSMEs and sectors badly affected by the health crisis. More forms of assistance are planned for them under the proposed P4.506-trillion budget for 2021,” he said.

Vargas, a vice chairman of the House appropriations committee, vowed to scrutinize the 2021 General Appropriations Bill (GAB) to ensure there will be adequate funding for programs aimed at helping distressed sectors.

“I will make sure the people’s money goes where it’s most needed: Trabaho at tulong para sa ating mga kababayan,” he said.