Facebook Instagram Linkedin X Youtube
Home Blog Page 9713

Power producers urged to lower electricity rates

A CONSUMER GROUP on Saturday urged power producers to reduce the cost of electricity as power demand and prices continue to drop during the Luzon-wide lockdown.

In a letter sent to the Philippine Independent Power Producers Association, Inc. (PIPPA), Laban Konsyumer, Inc. (LKI) noted that the power demand and supply gap dropped 50% during the enhanced community quarantine, which can be treated as a “force majeure” event.

“(I)t is a difficult situation nowadays for the Filipino consumer, especially when it comes to making money, since most people are not able to work any longer. Because of this, our group is calling on the owners of the power plants to find a way to lower the power generation costs that they will be passing on to consumers,” LKI President Victorio A. Dimagiba said in the letter posted on the group’s website Saturday.

The group urged power generation companies “to avoid stranded cost(s) or refuse fixed costs that will be shouldered by customers” in their contracts with distributors.

The Department of Energy (DoE) reminded generation companies on March 26 that they cannot shut down their operations despite energy demand falling by around 30%.

“A decline in power demand does not mean that operations could and should be put to rest,” Energy Secretary Alfonso G. Cusi said in a statement.

Meanwhile, LKI said distribution utilities and electric cooperatives, which obtain their electricity from supply agreements and independent producers, would not invoke a force majeure provision on their supply contracts to pull down contract capacity or minimum charges because it might affect their income.

On Friday, Power Sector Assets and Liabilities Management Corp. said it will not allow the suspension or lowering of the minimum energy off-take or the so-called minimum charges by distribution utilities unless there is a declaration of force majeure.

Earlier, Manila Electric Co. extended the due date of its customers’ payments of bills falling from the quarantine period by 30 days from April 14, in compliance with the DoE’s order to provide relief to consumers affected by the lockdown.

The Energy Regulatory Commission also suspended feed-in-tariff allowance collection, effectively cutting the electricity rate by P0.04 per kilowatt-hour in the next billing cycle.

“These are emergency times, and desperate measures must be undertaken to keep ourselves afloat. With this low demand for power, one good outcome of all this chaos can be the lower generation rates being paid to the big power plant owners,” Mr. Dimagiba said.

PEZA seeks gov’t aid to house eco-zone workers

THE Philippine Economic Zone Authority (PEZA) is requesting assistance from the national and local governments in housing and transporting employees during the Luzon lockdown.

In a statement Saturday, PEZA said Director General Charito B. Plaza wrote to President Rodrigo R. Duterte on Friday encouraging the President to both protect public health and support the economy.

Ms. Plaza said that PEZA has been complying with the enhanced community quarantine (ECQ) requirements, by providing temporary housing and shuttle services for workers.

But she noted that PEZA cannot provide such services to the entire workforce. PEZA’s 406 economic zones directly employ 1.6 million people.

She proposed that public schools and other buildings be used as medical facilities after hospitals with no remaining beds began turning away persons under monitoring or investigation for COVID-19.

Some of these buildings, she said, should house eco-zone workers.

“For economic purposes, some of them may be utilized to temporarily house eco-zone workers who are challenged by the IATF (Inter-Agency Task Force) restrictions on movement of eco-zone personnel,” she said.

“The idle buildings and warehouses, whether public or private, may also serve as logistics facilities particularly for food products to ensure food security.”

Ms. Plaza added that the IATF and local government units should assist companies that need housing, transportation, and personal protective equipment. Ms. Plaza also asked for “safe passage through the checkpoints for eco-zone cargoes and shuttle buses ferrying the workers.”

Under the ECQ declared in response to the COVID-19 outbreak, outsourcing and export-oriented businesses may continue to operate as long as work-from-home measures are in place and a minimal level of in-office staff are given temporary accommodation.

Business groups had earlier expressed concerns about the implementation of national government directives to allow all cargo to pass unhampered through checkpoints. The trade department said last week that it expects the movement of cargo to improve. — Jenina P. Ibañez

Tax breaks in these trying times

(First of two parts)

The government has announced several measures to contain the spread of COVID-19. President Rodrigo R. Duterte has placed Luzon under enhanced community quarantine and imposed stringent social distancing measures, with the entire country under a state of emergency.

With the goal of protecting the health and safety of all taxpayers from the further spread of COVID-19, the Bureau of Internal Revenue (BIR) issued specific guidelines/circulars to be observed during the quarantine period.

In Revenue Memorandum Circular (RMC) No. 25-2020 dated March 16, the BIR originally maintained its position that no extension of deadline shall be provided for the filing of 2019 annual income tax return (ITR) despite the quarantine being strictly implemented.

However, considering the limitations in preparing the annual ITR and possible errors in determining the income tax due, taxpayers can amend the annual ITR filed, provided the concerned taxable period has not yet been subject to an audit. The additional income tax liability resulting from any amendment is to be paid without penalties if paid on or before June 15.

The same circular also encouraged taxpayers, even those not required, to use the electronic filing facilities of the BIR (e.g., the electronic filing and payment system [eFPS] and eBIR Form Facility) to limit taxpayers’ movements and possible exposure to the virus.

However, various stakeholders and associations raised concerns that the measures being implemented by the national government will have a significant impact on meeting the existing tax, accounting and auditing requirements. There may be delays in auditing the balances of companies and businesses due to, among others, fieldwork or meetings suspended and the work from home scheme enforced.

ITR DEADLINE EXTENSION
Fortunately, the BIR issued RMC No. 28-2020 dated March 18, amending RMC No. 25-2020. This amendment extends the filing deadline of the 2019 annual ITR and payment of the tax originally due on April 15 to May 15, without the imposition of penalties.

Under this circular, taxpayers may file and pay the corresponding taxes due at any Authorized Agent Banks (AABs) nearest to the location of the taxpayer or to any Revenue Collection Officer (RCO) under the Revenue District Office (RDO). In other words, taxpayers may file and pay at their most convenient location.

According to the press release of the Department of Finance (DoF), these emergency measures are offered to provide relief to taxpayers who will not be able to prepare, let alone file, the necessary ITR documents on or before the original annual deadline of April 15 because of minimal-staffing arrangements and enhanced community quarantine rules.

In addition, the DoF estimated a shortfall in tax collections of around P145 billion, for which the national government may have to make up for with additional borrowing. Hence, the BIR urges taxpayers who are ready and able to file their ITRs to do so on or before the original deadline.

DEADLINE EXTENSION FOR TAX RETURNS AND ATTACHMENTS
The BIR likewise provided deadline extensions for other tax filings. On March 19, BIR Commissioner Caesar Dulay issued RMC No. 29-2020, amending RMC No. 26-2020 by extending the deadlines (by approximately one month) for the filing of various returns and payment of taxes due. Consequently, the BIR collection of taxes related to such tax filings may be delayed by approximately one month.

The provisions of RMC No. 28-2020 (extension of deadline for filing of annual ITR and payment of the related income tax due) and RMC No. 29-2020 (extension of deadlines for filing of various returns and payment of related taxes due thereon) were further amended and clarified by RMC No. 30-2020 dated March 23.

Under this circular, the required attachments for the filing of annual ITR are to be submitted on or before May 15. Moreover, deadlines were extended for other reportorial requirement submissions and one-time transaction (ONETT) payments. In general, a 30-day extension will be granted in case the deadline falls within the quarantine period.

RMC No. 30-2020 also provided clarity by addressing inadvertent errors on the due dates in the filing of certain tax returns and payment of the related tax due thereon under RMC No. 29-2020.

We should note that the BIR qualifies the application of the circular to Luzon, including the National Capital Region (NCR), which are under enhanced community quarantine and/or similar measures, and to other jurisdictions where Local Government Units have also adopted such measures.

VAT REFUND APPLICATION EXTENSION
Aside from the deadline extensions of these various tax returns and attachments, the BIR also extended the deadline for the filing of Value Added Tax (VAT) refund applications and the 90-day processing period through the issuance of RMC No. 27-2020 dated March 18.

This allows the filing of VAT refund applications covering the quarter ended March 31, 2018 to still be accepted until April 30, 2020. The original deadline was March 31, this year.

The 90-day processing period is also suspended for VAT refund claims that are currently being evaluated and those that may be received from March 16 to April 14. The counting of the number of processing days will resume after the enhanced community quarantine is lifted.

CONDUCTING FIELD OPERATIONS
Similarly affected is the conduct of audit/investigation/other field operations by revenue officials and employees. In relation to this, Deputy Commissioner (Operations Group) Arnel SD. Guballa, issued Operations Memorandum No. 20-2020 dated March 17.

Under this memorandum, Revenue Officers will continue to work on their assigned cases, whether prescribing or not, based on the documents previously submitted by the taxpayers to the BIR and other information available to the Bureau. Officers are encouraged to work from home but without sacrificing the security of the data and information being handled. Non-prescribing audit cases which are still lacking documentary evidence were given a 30-day extension for the submission of the report of investigation.

In addition, field audit/investigation, any form of business visitation or any field operations have been suspended. Likewise, personal service of electronic Letters of Authority (eLAs), Notice of Informal Conference, Discrepancy Notices or Missions Orders have been temporarily shut down during the quarantine period.

Should a taxpayer appear in the BIR office to submit documents, such documents are to be received without delay and without further verbal discussion with the taxpayer in order to limit contact and maintain social distancing.

In summary, the extended deadlines are as follows:

• ITR filing — May 15

• Tax returns & attachments — May 15

• Additional tax liabilities — 30-day extension

• VAT refund applications — April 30

• Non-prescribing audit cases lacking documentary evidence — 30-day extension

FACING THE CHALLENGES
While the government endeavors to address every Filipino’s need for basic services, health and safety, it is imperative that we as taxpayers likewise fulfill our duties and obligations as citizens. In our current situation, the maxim that taxes are the lifeblood of the country has never been more apt.

However, life — and taxes, as the main source of government resources — must go on. Without taxes, government agencies cannot continue to operate. Hence, the need to collect taxes must necessarily be balanced against other interests.

The deadlines and timelines mentioned in this article are pursuant to the author’s understanding of the administrative issuances of the BIR as of the date of writing. These may be subject to change in light of the recently passed RA No. 11469 or the “Bayanihan to Heal as One Act,” which authorizes the President to move statutory deadlines and timelines for the submission of documents and payment of taxes, fees, and other charges required by law, among others.

This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views reflected in this article are the views of the author and do not necessarily reflect the views of SGV, the global EY organization or its member firms. EYG no. 001498-20Gbl

 

Noel Andro D. Bico is a Senior Associate from the Global Compliance & Reporting Sub-Service Line of SGV & Co.

[B-SIDE Podcast] Manila, Manila

Follow us on Spotify BusinessWorld B-Side

While Luzon is on lockdown, let WanderManila head tour guide Benjamin Canapi tell you about his love affair with the City of Manila. This historical city has been a venue for international trade for 400 years. It bore witness to Spanish colonial rule, the Japanese regime, and the Second World War. Mr. “B. Canapi,” who has done walking tours since 2012, chats with Arts and Leisure reporter Michelle Anne P. Soliman about the city’s history beyond classroom lectures and history books. He also remembers the late Intramuros tour guide, activist, performance artist Carlos Celdran; and considers the future of walking tours in Manila. This episode was recorded on February 24, before Luzon was placed under enhanced community quarantine, at the BusinessWorld Studio in New Manila, Quezon City. Produced by Nina M. Diaz, Paolo L. Lopez, and Sam L. Marcelo.

Follow us on Spotify BusinessWorld B-Side

BSP may pump more money into system amid outbreak

THE Philippine central bank is expected to pump more money into the financial system as low lending rates fail to stimulate an economy that has been put into a standstill by a novel coronavirus pandemic.

“Quantitative easing measures, through bond purchases and other tools by central banks are faster to implement and have immediate positive effects on the economy and financial markets,” said Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp.

They are unlike stimulus measures that may require more time through legislation, he said in an e-mailed reply to questions.

The Bangko Sentral ng Pilipinas (BSP) earlier went on a buying spree of three-month government securities worth $300-billion from the Bureau of the Treasury under a repurchase agreement payable in six months.

Both quantitative easing measures and policies are needed at a time of a pandemic, according to Ruben Carlo O. Asuncion, chief economist at UnionBank of the Philippines, Inc.

“With the magnitude of an impact such as a pandemic, all monetary and fiscal means should be on deck, and nothing should be left unused,” he said.

Quantitative easing would also help boost lending, apart from the liquidity boost and rate cuts enforced by the central bank, said Robert Dan J. Roces, chief economist at Security Bank Corp.

“The additional reserves would kick-start lending, causing broad money growth to expand, and eventually lead to an increase in real economic activity,” he said in an e-mail.

STRONGER MEASURES
Meanwhile, BSP needs to come up with a bigger and stronger scope of response to ensure the economy is better cushioned from the impact of the COVID-19 pandemic, analysts said.

The economic effects of the pandemic could be worse than the 2008 global financial crisis, UnionBank’s Economic Research Unit said in a report, adding that the government needs to boost its response.

“By mere optics, the current crop of policies may have to be augmented further and a more targeted policy support is very much needed,” it said in an e-mailed note.

The share of exports, imports and tourist arrivals in the gross domestic product (GDP) last year rose to 59.3% (from 52.9%), 68.7% (from 50.1%), and 12.7% (from 5.9%), respectively from 2007, the bank said, citing government data.

On the other hand, the share of consumption and remittances in the economy fell to 68.4% (from 71.6%) and 8.5% (from 9.7%), respectively. In absolute amount, consumption almost doubled to P6.7 trillion last year from 2007, while remittances more than doubled to P30.1 billion

“Apart from the trade’s bigger part of the economy, tourism has more than doubled in terms of GDP contribution,” according to the report.

“Aggregate consumption, the biggest contributor to GDP, and remittance inflows have continuously supported economic growth for more than a decade,” it added.

“An estimated deeper impact of the COVID-19 pandemic on the bigger real macroeconomy, compared with the economic losses caused by the global financial crisis warrants wider and more encompassing policies,” it added.

The month-long lockdown in Luzon, which contributes 70% to GDP, is expected to slow the economy. Tourism, trade and remittances are also expected to suffer because of the outbreak.

Economic managers have estimated losses of P428.7 billion to P1.355 trillion in gross value added or about 2.1% to 6.6% of GDP. The government had targeted growth of 6.5-7.5% this year.

“If we are going to take their initial assessments seriously, then the response to this pandemic should be stronger and the scope bigger,” according to the report.

The central bank cut policy rates by 50 basis points this month and will buy P300 billion worth of securities from the Treasury bureau to help fund government initiatives related to the outbreak.

On Thursday, it remitted in advance P20 billion in dividends to the National Government to help it deal with the health crisis. — Luz Wendy T. Noble

February outstanding debt rises on bond sales

THE National Government’s outstanding debt rose by 5.2% from a month earlier to P8.165 trillion as of end-February due to bigger sales of both foreign and local bonds, according to the Treasury bureau.

The total debt stock increased 9.6% from a year earlier, it said in a statement on Friday.

Domestic debt accounted for 66.7% of the total at P5.449 trillion, while the rest or P2.715 trillion was obtained from external creditors, the bureau said. Domestic debt rose by 6.4% from a month earlier and by 11.3% year on year, it added.

The Treasury bureau traced the increase to the net issuance of government securities worth P326.06 billion, the bulk of which was in the form of retail Treasury bonds worth P310.8 billion sold in February.

External debt rose by 2.9% from a month earlier to P2.715 trillion as of end-February, and by 6.4% from a year earlier.

Additional foreign loans that month added P70.9 billion to the outstanding debt stock, including 1.2 billion euros ($1.3 billion) worth of three- and nine-year euro-denominated global bonds sold.

Availment of the World Bank’s $100- million International Bank for Reconstruction and Development (IBRD) program loan also added to the stock, the Treasury bureau said.

“For February, external debt grew due to the effect of currency fluctuations on both dollar- and third currency-denominated debt amounting to P2.18 billion and P3.8 billion, respectively,” the agency said. — Beatrice M. Laforga

COVID-19 cases rise to 803; death toll at 54

By Vann Marlo M. Villegas, Reporter

THE Department of Health (DoH) on Friday reported yet again the biggest daily increase in novel coronavirus infections with 96 new cases, bringing the total to 803.

The death toll rose by nine to 54, while three more patients recovered, bringing the total to 31, according to a DoH bulletin.

Health Undersecretary Maria Rosario S. Vergeire traced the increase to more tests being conducted by local laboratories.

The three who recovered were all males aged 25, 48, and 51 with no underlying medical conditions.

The ages of the nine patients who died ranged from 57 to 83 years old, all of whom had underlying medical conditions, DoH said.

Ms. Vergeire said 2,147 people have been tested for the COVID-19.

She said they expect the Research Institute for Tropical Medicine to certify the sub-national laboratories of San Lazaro Hospital, Baguio General Hospital and Medical Center, Vicente Sotto Memorial Medical Center, and Southern Philippines Medical Center for Mindanao within the day.

They were initially given 5,000 test kits and they can conduct as many as 160 tests daily, she said.

She also said that more than 30 public and private hospitals have expressed a desire to become COVID-19 testing laboratories and were sent a self-assessment tool to determine their capacity.

The DoH personnel have visited some of these hospitals, including St. Luke’s Medical Center in Quezon City and Taguig City, Makati Medical Center, Medical City, Western Visayas Medical Center, Bicol Public Health Laboratory and the Armed Forces Research Institute for Medical Sciences.

Also on Friday, the Department of Education (DepEd) said it was open to turning schools into facilities for COVID-19 patients, subject to conditions.

Education Undersecretary Annalyn Sevilla told a separate news briefing DepEd chief Leonor Briones had issued guidelines in using schools as COVID-19 facilities.

US cancels war games amid COVID-19 pandemic

THE United States military has canceled war games involving thousands of troops with the Philippines scheduled for next month amid a novel coronavirus pandemic that has sickened more than 800 people.

“In light of the extraordinary circumstances surrounding the COVID-19 pandemic and in the best interest of the health and safety of both countries’ forces, it is prudent to cancel Balikatan 2020,” Admiral Phil Davidson, commander of the US Indo-Pacific Command, said in a statement on Thursday.

“We remain deeply committed to our longstanding alliance and friendship,” he added.

The so-called Balikatan (Shoulder to Shoulder) exercises were originally scheduled for May 4 to 15.

The US now has the largest number of confirmed infections in the world at more than 85,000, with at least 1,300 deaths. The Philippines has reported more than 700 cases with 45 deaths.

The US troops who take part in the war games usually come from its bases in Japan and South Korea, which have both been hit hard by the virus.

Japan now has almost 1,400 infections with 47 deaths, while more than 9,000 have been infected in South Korea, with 139 deaths. — Charmaine A. Tadalan

Local governments told to allow foreigners to leave

THE Bureau of Immigration will allow foreigners to leave the country even without their alien certificate of registration ID, the agency said in a statement on Friday.

The bureau would waive the requirement for foreigners with approved visas amid a lockdown of Luzon island due to a novel coroanvirus outbreak, it said.

“We will no longer be requiring ACR I-Card waiver orders for departing foreign nationals,” Immigration Commissioner Jaime H. Morente said.

“With the rapid spike in COVID-19 cases, we were prompted to make additional measures to lessen person-to-person contacts,” he added.

The bureau issued earlier an advisory suspending several transactions in Luzon including tourist visa extension except for foreigners seeking to leave the country.

Foreigners with visas expiring during the lockdown period may file for an extension after the quarantine without penalties.

Meanwhile, local governments should allow the free movement of outbound foreign nationals amid the Luzon-wide lockdown, Carlito G. Galvez, Jr., chief enforcer of the country’s anti-COVID-19 measures, said on Friday.

About 1,900 foreigners have been stranded in the Philippines after President Rodrigo R. Duterte locked down the entire Luzon island, suspending classes, work and public transportation to contain the outbreak, Mr. Galvez told radio DZBB.

He said local governments should not bar these travelers from leaving because the government had put in place safety measures.

Mr. Galvez said the National Government might remove the police power of local governments that refuse to follow the orders of the Inter-Agency Task Force for Emerging Infectious Diseases.

The government would stop helping foreign governments in transporting their citizens through quarantine checkpoints, Foreign Affairs Secretary Teodoro L. Locsin, Jr. tweeted on Thursday night.

He said the Department of Foreign Affairs would still “help gather the stragglers, talk to restrictive local governments to let them go through quarantines” and “give whatever help we can extend.”

“They can still leave the country anytime they please; no penalties for exceeding their visas,” Mr. Locsin said. “But their governments will have to bear the costs and assume the main burden of collecting them for sweeper flights out.” — Vann Marlo M. Villegas and Genshen L. Espedido

Pimentel to face charges for violating quarantine

SENATOR Aquilino L. Pimentel on Friday said he would face allegations that he broke self-quarantine protocols for patients suspected to have been infected with the novel coronavirus.

“I will respond to their specific allegations in due time after we read them and compare with what is in the law,” Mr. Pimentel, who had tested positive for the virus, said in a mobile-phone message.

“We are in an entirely new environment where everything is in a state of flux,” he said. “I believe even the so-called protocols have changed over time. Everything will be clarified in due time.”

Mr. Pimentel said he found out he was positive on Tuesday evening while he was at the Makati Medical Center (MMC) with his wife Kathryna, who was due to deliver their child.

President Rodrigo R. Duterte locked down the entire Luzon island on March 16, suspending classes, work and public transportation to contain the COVID-19 outbreak.

The hospital earlier rebuked Mr. Pimentel for being reckless and irresponsible. Health Secretary Francisco T. Duque III also agreed the senator had breached protocols.

Lawyer Rico Quicho had said Mr. Pimentel could face criminal charges and a disbarment complaint for exposing health care workers to the coronavirus.

Mr. Quicho said the senator had violated a law requiring “reporting of notifiable diseases and health events of public health concern,” which punishes violators with imprisonment of up to 6 months and a maximum fine of P50,000.

Meanwhile, Senator Juan Miguel F. Zubiri, the first senator to get infected, said he would extend his home quarantine to 21 days. He said he was coordinating with private hospitals for the mandatory tests that should be taken to ensure he has recovered.

“I am now on my 16th day of isolation but I have decided to extend it to 21 days just to be absolutely sure that I no longer have any symptoms,” Mr. Zubiri told reporters.

He said patients who had tested positive must test negative twice before they can be considered to have recovered, based on Department of Health (DoH) protocols.

He said he would take and pay for these tests. — Charmaine A. Tadalan

DoST makes 3D-printed face shields

THE Department of Science and Technology (DoST) has started producing 3D-printed face shield frames for health workers on the frontline battling a novel coronavirus that has sickened more than 700 and killed at least 45 people in the Philippines.

The agency has been printing the protective face gear round the clock since March 23, making 10 frames for every one-and-a-half hours, project head engineer Fred P. Liza said in a statement.

“It will protect the face whenever a patient coughs or sneezes,” he said.

DoST said it seeks to expand production and distribution of the frames, which it donates to the Philippine General Hospital.

Meanwhile, volunteers from the Engineering faculty of the University of Santo Tomas have also created face shield visors using six 3-D printers from DoST.

In a Facebook post, the university said the production of the protective visors was funded by its alumni association for the benefit of the health staff at UST Hospital, Red Cross and partner hospitals. — Adam J. Ang

Ayala, Araneta and Aboitiz groups provide more support to lockdown-hit sectors

THE Ayala, Araneta and Aboitiz families have expanded their assistance to those affected by the lockdown in Luzon and other parts of the country, while others have joined the roster of private firms providing support to frontliners and vulnerable sectors.

Ayala-led Manila Water Co., Inc. said on Friday that its foundation had deployed on March 25 drinking water and water dispensers to six Quezon City public hospitals for medical frontliners.

It said 280 units of 5-gallon bottled water with water dispensers had been deployed to Quirino Medical Memorial Center, Quezon City General Hospital, Veterans Memorial Medical Center, Lung Center of the Philippines, Philippine Heart Center, and East Avenue Medical Center to help their doctors, nurses and staff stay hydrated during the national health emergency.

“The situation of COVID-19 (novel coronavirus disease 2019) as it unfolds day by day is challenging at all levels,” Manila Water Foundation Executive Director Reginald M. Andal said in a statement.

“We are comforted that our healthcare frontliners are doing their best to take care of all of us, but they are putting their own lives at risk in the process. The least we can do is to provide their vital needs such as water. This is our expression of gratitude for their selfless service, dedication and courage for public health,” he added.

In a separate statement, Araneta City said it was set to launch its donation drive, together with the J. Amado Araneta Foundation (JAAF), to aid poor households in Metro Manila affected by the lockdown.

Araneta City said it had donated food packs to communities in Quezon City. Further, JAAF earlier pledged to donate test kits to support the Quezon City General Hospital in expediting the diagnosis of suspected cases of COVID-19.

Araneta City has also waived the rents of mall tenants who were affected by the lockdown, while their skeletal laborers were said to have been provided with assistance, such as hazard pay, food, and temporary accommodation.

“We are doing our part in helping end the threat of this disease. We recognize the resilience of the Filipino people, and we are confident that together, we can get through this challenge,” the company said.

Meanwhile, the Ramon Aboitiz Foundation, Inc., the corporate social responsibility arm of the Aboitiz family, has partnered with the Cebu City government and the Metropolitan Cebu Water District to launch a handwashing campaign as an intervention to fight the severity of the COVID-19 pandemic.

“We are addressing something basic here yet proven to be the most effective way to prevent getting and spreading the virus. Unfortunately, there are some areas with low water supply and without clean handwashing facilities, this is why we are installing sinks with the support of the local government unit and the water district,” said Riella B. Guioguio, the Aboitiz foundation’s chief operating officer.

As of March 25, the foundation has already activated its humanitarian disaster preparedness and response team to serve as the conduit of local and international donations. The running total of this effort stands at P6 million, including grants.

Separately, McDonald’s Philippines through its charity arm has dedicated some of its restaurants to serve meals for frontline medical workers, volunteers, and affected communities during the enhanced community quarantine.

Ronald McDonald House Charities (RMHC) on Friday said it had launched its latest project, McDo Kindness Kitchen, in McDonald’s branches in Quezon City, Las Piñas, Makati and even in Cebu, vowing to roll out 1,500 meals a day for their beneficiaries.

According to RMHC, partner companies, such as ABS-CBN Foundation, Coca- Cola, and Angkas, have helped in transporting and distributing meals, which were said to cost P50 per person.

The meal project was first launched at McDonald’s ABS-CBN branch on March 20, serving over 17,000 meals to different communities through its participation with ABS-CBN Foundation’s Pantawid ng Pag-ibig Program.

Earlier this month, the Ayala brothers rolled out a P2.4-billion emergency response package for employees and partners affected by the COVID-19 business disruptions.

Aboitiz companies previously announced that they were providing assistance to customers during the lockdown through payment extension, waived rental fees and sustained operations for basic necessities. — Adam J. Ang

1...9,7129,7139,714...14,244Page 9,713 of 14,244
ADVERTISEMENT
ADVERTISEMENT
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin X Youtube