NextGen Day

MANILA, Philippines — Senator Panfilo “Ping” Lacson, an independent presidential contender, suggested the government should focus on reviving micro, small, and medium businesses (MSMEs) to alleviate the country’s unemployment problem.

“Our MSMEs, which are the largest source of labor, should be revitalized. Because they were the first to suffer (because of the pandemic), our MSMEs should be the first to be resurrected “On Thursday, he stated in an interview in Bogo, Cebu.

MSMEs are still recuperating from the lockdowns induced by the coronavirus epidemic, according to Lacson, while also dealing with the impact of rising gasoline costs.

MSMEs account for 99.5 percent of all businesses in the country, and their employees make up 63.2 percent of the workforce, according to him.

The Philippine Statistics Authority announced on Thursday that the unemployment rate in February was 6.4 percent, resulting in 3.13 million unemployed Filipinos.

Lacson stated that if elected, he will make it easier for MSMEs to obtain financial help.

He claims that at least 20 government initiatives exist, including microfinance and lending facilities, but that MSMEs may be unaware of them.

“Iniisip namin ni SP, i-streamline natin,” he remarked. “Senate President Sotto and I are thinking of simplifying everything.”

Lacson also stated that if elected, his administration will create programs to match skills and advocate for a policy that places a greater emphasis on skills rather than age or disability as a criterion for employment.

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