Conglomerate San Miguel Corp. committed to remit P11.67 billion to the national government as additional funds to effectively contain the coronavirus disease 2019 pandemic.
San Miguel said in a disclosure to the stock exchange the amount would be in the form of tax, concession fees and contractual payments which the company would remit to the government throughout the quarantine.
It said of the total amount, it already paid the government P8.77 billion and pledged to remit the balance before the end of the enhanced community quarantine that was extended to May 15.
San Miguel also committed to grant full-time pay to all employees and extended workforce as the ECQ remains in effect, even as it works round the clock mobilizing resources to help address the larger social and economic impact of the COVID-19 crisis.
It has released full compensation with benefits amounting to over P3 billion to all 66,557 employees, consultants and contract workers.
“These are trying times and while we, as a company, are not immune to the challenges of this crisis, the safety and security of our workforce will always come first. We do not want them worrying about their jobs,” San Miguel president and chief operating officer Ramon Ang said.
Ang commended San Miguel employees who continued to deliver essential goods and services despite the ongoing health crisis.
“Please continue to adopt our ‘malasakit’ mindset and focus on what we, as individuals, can do to make a difference, because many are counting on us,” Ang said.
“We are also aware that we have a huge role to play across industries and we are lucky to be more equipped than the rest to navigate this crisis. That said, we remain steadfast in our commitment to assist government and continue providing assistance where it’s most needed,” he said.
San Miguel has provided assistance of over P1 billion in the form of cash, food, flour, disinfectant alcohol, fuel, free toll and personal protective equipment donations to vulnerable communities and front liners since the ECQ began.
It also built emergency quarantine facilities together with the Armed Forces of the Philippines to help ease the pressure on health facilities flooded by patients needing intensive medical treatment resulting from the pandemic.