SMC commits to P11.67-B in payments to gov't despite amnesty

Diversified conglomerate San Miguel Corp. (SMC) committed itself to making P11.67-billion worth of payments to the government, even with a standing amnesty offer.

In a Sunday statement, SMC said it had set aside P11.67 billion in tax, concession, and contractual payments throughout the enhanced community quarantine (ECQ) to make available the needed funds against the coronavirus disease 2019.

SMC said it had paid the government P8.77 billion, while the remaining balance would be remitted to state coffers before the end of the ECQ, which was set to lapse on May 15.

Malacañang last week said President Rodrigo Duterte could ask Congress to pass a supplemental budget to augment funds for the government's efforts against COVID-19.

For his part, Finance Assistant Secretary Antonio "Tony" Lambino II said last week that the Philippines' P1.49-trillion war chest against COVID-19 would likely be fully available by the end of April.

Full-time pay

In the same statement, SMC said it would continue to grant full-time pay to all employees and extended workforce while the ECQ remained in effect.

"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," said SMC president and chief operating officer Ramon Ang.

SMC said it had released some P3 billion covering full compensation with benefits for its 66,657 employees, consultants, and contract workers.

"I am truly proud of the hard work that you, most especially our front liners, have been doing in the midst of the challenges: delivering essential goods and services that are critical in this battle," said Ang.

"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 added. — DVM, GMA News