DTI eyes P600-M livelihood support for MSMEs in coming months

The Department of Trade and Industry (DTI) targets to release P600-million worth of livelihood support to small firms, but this will need an exemption from the election ban on spending.

According to Trade Secretary Ramon Lopez, the department aims to provide 105,394 livelihood kits, including 1,500 beneficiaries for each region in April, May, and June, equivalent to 300 to 400 livelihood kits per province.

Lopez noted, however, that it will still be up for deliberation given the election ban on public spending for infrastructure and other projects implemented by the Commission on Elections (Comelec).

“Importante ho na makakuha tayo ng Comelec exemption. Importante ho ngayong kailangan ng tao ng kabuhayan lalo na dahil sa pandemya kaya kailangan po mapagpatuloy natin ito,” he said in a report to President Rodrigo Duterte aired on Wednesday.

(It is important to secure a Comelec exemption. It is important as individuals need livelihood especially because of the pandemic so it is imperative we continue this.)

The DTI earlier said some 10% of MSMEs were forced to close down as of June 2021. This was up to as high as 52.66% in May 2020, during the peak of quarantines.

Micro enterprises are defined as those with total assets worth less than P50,000; cottage enterprises with assets worth P50,001 to P500,000; small with P500,001 to P5 million; and medium from over P5 million to P20 million.

Lopez said the DTI is already in coordination with the Comelec for the exemption application, with releases scheduled later this week — in Cebu on Thursday, March 31, and in Laguna on Friday, April 1.

Data released by the Commission on Audit (COA) revealed that some P4.99 or 54.96% of the released budget under the Bayanihan to Recover as One Act or Bayanihan 2 was unutilized as of June 2021.

Under the law, P9.08 billion was allocated for the DTI’s COVID-19 Assistance to Restart Enterprises (CARES) program, but state-run SB Corp. was only able to use P4.09 billion as of mid-2021.

In the same briefing, Lopez assured the public that the country has enough basic necessities and prime commodities (BNPCs) are good for as much as 12 months.

Manufacturers’ inventory of canned fish is good for 18.33 to 50 days, canned meat from 14.5 to 56.25 days, milk from 25 to 52 days, instant coffee from 13 to 65 days, bottled water from four to 365 days, instant noodles from 12 to 14 days, condiments from 11 to 36 days, and flour at 90 days.

Meanwhile, retailers’ inventory of canned fish is from 59 to 65 days, canned meat from 62 to 72 days, milk from 23 to 41 days, instant coffee from 45 to 49 days, and instant noodles from 28 to 32 days.—AOL, GMA News