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Saturday, May 18, 2024

Senator Bong Go cites increase in DTI 2023 budget

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Senator Christopher “Bong” Go has commended the increase in the 2023 budget of the Department of Trade and Industry (DTI) to provide funding for its Pangkabuhayan sa Pagbangon at Ginhawa (PPG) program which seeks to aid micro, small, and medium enterprises in crises and provide livelihood opportunities to more Filipinos.

Earlier, Go appealed for the budget allocation for the PPG program during the deliberations on the 2023 budget of the DTI.

“Many have lost their jobs, many businesses stopped operationsdue to pandemic so it is important to continue this program,” he said.

He reiterated that MSMEs play a crucial role in the recovery of the country’s economy and local communities.

“According to data, 99.52% of the total enterprises operating in the country are MSMEs. Backbone ng ating ekonomiya ang mga MSMEs.”

The senator has already filed several legislative measures to support this economic sector. These include a bill which seeks to institutionalize the Department of Trade and Industry’s “One Town, One Product” (OTOP) program, and the proposed Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) Act.

Go’s Senate Bill No. 424 shall adopt the OTOP as a government stimulus program to encourage the growth of MSMEs in the country through the utilization of indigenous raw materials, local traditions and cultures across the country.

It seeks to assist and capacitate MSMEs in developing new, innovative and more complex products and services through significant improvement in the areas of quality, product development, design, packaging, standards compliance, marketability, production capability, brand development, sustainability, and securing licenses, product registration and other market authorization, among others.

Furthermore, the bill seeks to support MSMEs in coping with the adverse effects brought by the ongoing pandemic.

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