A man sits outside closed shops following the lockdown in the Philippine capital to prevent the spread of the coronavirus disease (COVID-19), in Manila, March 24, 2020. Eloisa Lopez, Reuters
MANILA -- Small businesses will get a 30-day moratorium on rent payments in commercial spaces, Cabinet Secretary Karlo Nograles said Thursday.
The reprieve covers commercial rent of micro, small, and medium enterprises (MSMEs) for the month-long period of the enhanced community quarantine in Luzon, Nograles said.
"Tulad ng residential units, may 30-day grace period na rin po sa pagbayad ng upa sa commercial spaces na ginagamit ng malilit na negosyo o MSMEs," Nograles said in a virtual press briefing.
(Like residential units, there is also a 30-day grace period for the payment of commercial rent used by small businesses or MSMEs.)
The Department of Trade and Industry will formulate guidelines, he said.
The government earlier imposed a 30-day moratorium on payments of residential rents and loans.
The entire Luzon was placed under enhanced community quarantine to stop the spread of COVID-19 from March 17 to April 12.
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