The SM Group called for the gradual reopening of businesses once the Luzon-wide enhanced community quarantine period ends on April 30.
SM Investments Corp. vice chairman Teresita Sy-Coson said she was supporting the gradual increase in business activity and transportation to prevent a further rise in unemployment.
Sy-Coson said in a statement over the weekend business activity could resume once all precaution measures were put in place to protect Filipinos from the onslaught of coronovirus disease 2019.
“We appreciate the moves of the government to protect the Filipinos from the onslaught of COVID-19. May I add that with all the precaution in place, if DOLE [Department of Labor and Employment] can look into gradual increase of employment with gradual increase of businesses,” Sy-Coson said.
“If all the industries can start operating 50 percent, including the transport, and with all the medical precaution like making test kits more available and disinfecting measures and sanitation safeguards, then we can gradually increase the employment including the returning OFWs who are adding to our number of unemployment,” she said.
Sy-Coson, who is also the chairman of BDO Unibank Inc., said while the government was able to extend assistance to affected Filipinos through its P275-billion budget under the Bayanihan Heal As One Act, it was important for workers to keep their jobs to ensure the sustained growth of the domestic economy.
“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,” Sy-Coson said.
President Rodrigo Duterte extended the Luzon-wide enhanced community quarantine until April 30 in a bid to contain the spread of COVID-19.
SM Investments is one the largest conglomerates in the country with interests in banking, real estate and retail sectors.