Electronics manufacturers seek 'defined' economic stimulus

ABS-CBN News

Posted at Mar 31 2020 11:56 AM | Updated as of Mar 31 2020 12:12 PM

President Rodrigo Roa Duterte holds a meeting with some members of his Cabinet to discuss updates on the coronavirus disease (COVID-19) at the Presidential Security Group (PSG) Compound in Malacañang Park on March 24, 2020. Toto Lozano, Presidential Photo

MANILA - The government should provide a "defined" economic stimulus for companies to cushion the impact of COVID-19, a group of electronics manufacturers said Tuesday.

Continued dialogue between companies and the government can help address concerns especially in the export sector, said Semiconductors and Electronics Industries Philippines president Dan Lachica.

"The companies are at a loss on how to keep the workforce, they had to be laying off. Some economic stimulus for the companies will also be helpful and that’s not quite defined yet as of now," Lachica said.

A technical working group headed by the National Economic Development Authority (NEDA) was created to help revive the economy, Socioeconomic Planning Secretary Ernesto Pernia earlier said.

Delays in cargo and inconsistencies in checkpoints have to be addressed, Lachica said.

The coronavirus pandemic will definitely "dampen" this year's growth projection since the industry was just recovering from the Taal Volcano eruption last January, he said.

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