Lawmakers push for higher DTI budget next year

Lawmakers on Thursday committed to increase the Department of Trade and Industry's (DTI) budget for 2024 to support the development of micro, small, and medium enterprises (MSMEs).

During the House appropriations panel’s hearing for the proposed P7.909-billion budget for the DTI and its attached agencies, Committee Vice-Chairperson and Pangasinan 4th District Representative Christopher de Venecia said, “I join my colleagues in lobbying for additional budget for all of the 12 main programs of the DTI and its attached agencies.”

“MSMEs are the backbone of the economy. [They’re] 99-plus percent of total business and It’s part of the Philippines Development Plan and a priority of the President, yet you have a P7.9-billion budget,” he added.

Among the priority programs of the DTI for MSME development are the SME Development Program, Shared Services Facilities, Go Lokal, and the Establishment of Negosyo Centers.

For her part, Marikina City 2nd District Representative Stella Luz Quimb, another committee vice chairperson, said that the DTI's proposed budget is measly when trade and industry accounts for over 30% of the country’s gross domestic product.

“My point is your budget is so small relative to the sectors that you cover and the contribution of those sectors to the economy as a whole,” Quimbo said.

Cagayan de Oro City 2nd District Representative Rufus Rodriguez, likewise, moved to increase the budget of the DTI-Office of the Secretary to P3 billion “for your priority projects.”

In his presentation, Trade Secretary Alfredo Pascual said the agency requested a total budget of P21.027 billion for next year, nearly three times what the Department of Budget and Management (DBM) approved under the 2024 National Expenditure Program.

The DBM-approved budget, however, was higher than the P7.538 billion the DTI received under the 2023 General Appropriations Act.

Pascual welcomed the lawmakers' commitment to increase the department's budget, saying this will help the department’s initiative to support MSMEs.

“More than a backbone, it's the lifeblood of the Philippine economy,” the Trade chief said. — BM, GMA Integrated News