Yujuico consults with PCCI regional chapters on COVID-19 impact
Output to form PBC’s policy recommendations to government
President Benedicto B. Yujuico is holding a series of consultations with PCCI’s local chambers to assess the present situation of businesses in the regions amid the COVID-19 pandemic and the different stages of community quarantines implemented to mitigate its spread.
Yujuico initiated the dialogue to learn first-hand how businesses are coping with the health crisis and gather feedback on government’s responses and programs to help enterprises recover.
PCCI earlier issued a statement urging government to allow full resumption of business, noting that companies are at “greater risks of permanent closure” if lockdowns will continue and only partial operations will be allowed.
Initial feedback appeared that approximately 50 percent of firms have already closed and those still operating or have resumed operations have cut down employment to around 30 percent. Tourism is the hardly hit industry and its full resumption is likely to take longer.
Other common issues raised were difficulty planning due to uncertainty on how long COVID-19 will persist and the lifting, or return of strict community quarantines; cash flow and liquidity issues; spotty internet connectivity making online transition a challenge; regulatory processes with LGU’s not consistent with IATF policies; and, transportation issues for workers and logistics issues for cargoes, among others.
However, despite all these, businesses are still optimistic to restart and eventually recover from the pandemic given the right support measures.
The output of these dialogues will form the basis for PCCI’s policy recommendations to government preparatory to the 46th Philippine Business Conference and Expo (PBC&E), and PCCI’s future programs to assist its members in their recovery and building of resilience.
The 46th PBC&E will take place on October 7 and 8.