Gov’t should make immediate assessment of COVID-19’s potential damage on economy

In a resolution he filed, Gatchalian, vice chairman of the Senate Committee on Economic Affairs, said he was alarmed over the potential serious implications of the global outbreak, taking its toll on more possible job losses.

‘’There are mounting fears that other companies would follow suit especially in several tourism supply chains which includes hotels, restaurants, land transport service, logistics, and catering to name a few,’’ he pointed out. Citing his own internal computation, Gatchalian estimated that the government would need P28 billion for the stimulus package that would be extended to the tourism-related subsectors, such as hotels, food and beverages, transportation, and recreation and cultural activities, among others.First, the government could help affected tourism-related businesses, particularly the micro, small, and medium enterprises, by extending property tax discounts and temporary Value-Added Tax relief.

Lastly, Gatchalian said the government might embark on rehabilitating the country’s cultural landmarks and dilapidated heritage sites to boost domestic tourism which can also provide jobs.

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