MANILA – The government’s current priority is supporting displaced workers and frontliners, and not extending any immediate stimulus package for businesses.
This was stressed by Finance Secretary Carlos Dominguez III amid calls for government intervention for businesses that are also affected by the coronavirus disease (COVID-19) pandemic.
In a video conference Wednesday, Dominguez said they want to “expand our capacity to deal with this (current situation) on a physical basis and to provide liquidity to the economy.”
This, he said, is the main focus and not the stimulus package being proposed by some business groups.
In a statement issued Mar. 23, several business organizations hailed the immediate attention given by lawmakers on the proposed measures that will allow the government to map out solutions and gather funds to address the impact of the pandemic.
Among others, they suggested the institution of a special financing program to help businesses to also “get back on their feet” after the global health issue.
“I have told the people who had come out with that proposal to do a stimulus package that is not our priority at the moment,” Dominguez said.
Protecting the people from being affected by the virus and providing their needs are the government’s goals right now, he said.
“We don’t even know what’s the point of giving tax credits and giving stimulus package now when you have no workers,” he added. (PNA)
