DOLE To Propose Giving Subsidy to Small Businesses Amid COVID-19 Crisis
DOLE – The Department of Labor and Employment is planning to give subsidy to small businesses to help in the 13th month pay of the employees.
The Philippines is one of the many countries and territories affected by the COVID-19 pandemic that rocked healthcare systems across the globe. The entire nation is still under community quarantine measures now.
The said measures are implemented to curb the spread of the coronavirus disease in the country. The wearing of a face mask and the practice of social distancing also became protocols.
Amid the COVID-19 crisis in the Philippines, several businesses were not able to cope with the demands of the pandemic. For several months now, they only incur expenses with very little earnings or none at all.
Unfortunately, a lot of businesses had to close. Employers and employees lost their source of income amid the COVID-19 crisis.
Now that December is fast-approaching, many employees are looking forward to the 13th month pay. It is eyed as the bridge for financial gaps amid the crisis now.
The Department of Labor and Employment (DOLE) announced that there is no exemption in the releasing of the 13th month pay to the employees based on a report on ABS-CBN News. The labor department is planning to propose a subsidy for the small businesses.
visit: Employers Cannot Defer the Release of 13th Month Pay- Spox Roque
Speaking to TeleRadyo, DOLE Secretary Silvestre Bello III clarified that the subsidy for small businesses to help them in the 13th month pay of the employees is still a proposal but they will have to look on where to get the funds first.
Another option eyed by the labor department is government banking institutions providing loans for small businesses. It is the department’s next option in case they won’t be able to find a fund for the proposed subsidy.
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