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Philippines: Government urged to gradually restart economy
MANILA, Philippines — The government should look into the possibility of gradually reopening the economy and allowing businesses to operate at 50 percent capacity to help cushion the economy from the impact of the coronavirus disease 2019 or COVID-19 pandemic, according to SM Investment Corp. (SMIC) vice chair Teresita Sy-Coson.
Coson said this may be implemented in May when the 15-day enhanced community extension is over and not during the extended lockdown period.
“If all the industries can start operating 50 percent, including the transport with all the medical precaution like making test kits more available and disinfecting measures and sanitation safeguards, then we can gradually increase the employment,” Coson said.
Luzon is under the enhanced community quarantine with businesses and companies including malls closed or on limited operations, except for essential businesses. The move is meant to mitigate the contagion.
The SM Group has at least 74 malls all over Metro Manila and the quarantine has significantly affected its mall business.
Coson said the private sector, loans and other assistance given by the government can all help.
“Employment is also the key to the health of their family by having enough food for their own immunity and the key to the health of our economy,” she said.
President Duterte agree to a two-week extension of the quarantine.
More than 90 percent of some 200 entrepreneurs, business owners, and executives of large and medium conglomerates operating in Luzon who participated in an informal survey support the extension of the Luzon-wide lockdown for another two weeks.
Source: https://www.philstar.com/business/2020/04/13/2006858/government-urged-gradually-restart-economy