Articles worth reading
Photo courtesy of Associated Press

Groups oppose postponement of May 2022 elections

account_balanceMetro Manila access_time4 days ago

Concerned individuals and groups are pushing for the conduct of the May 2022 national and local elections amid calls to lift term limits and change the Constitution. According to the organizations headed by Kontra Daya, all attempts and excuses to p...

Pasay launches contact tracing app 

account_balancePasay access_time5 days ago

Pasay City is launching a contact tracing app for its employees accessible through Quick Response (QR) Code. “This is another step that we are undertaking as part of our overall COVID-19 response, particularly in the aspect of contact tracing....

Quezon City Automated Payment Machines / League of Municipalities of the Philippines / Facebook

Quezon City installs nine payment machines 

account_balanceQuezon City access_time4 days ago

A private company installed nine automated payment machines (APM) in Quezon City to allow residents and business owners to pay their taxes without going to city hall. The city government on Monday said they sought a collaboration with a private comp...

Makati News

Makati readies P2.5-billion stimulus package 

account_balanceMakati News account_circleGab dela Cruz chat_bubble_outline0 Comments

Makati City Mayor Abby Binay today said the City Council approved on Wednesday her administration’s P2.5 billion cash grant program for Makati-based businesses.

The Makati Assistance and Support for Businesses (MASB) is the city’s economic stimulus package where Makati-based businesses can get a grant ranging from P10,000 to P100,000 for their employees’ salaries and to pay suppliers registered in Makati. Businesses with over 12 Makatizen employees will get the maximum amount of the grant.

“The P100,000 grant is Makati’s way of boosting local businesses. The city only asks that they continue to run their businesses, keep their Makati resident employees, and comply with all guidelines and protocols for operation,” Mayor Abby said.

The mayor also called on owners of unregistered businesses in the city to secure the necessary permits in order to qualify for the grant.

On Monday, the mayor announced new initiatives aimed at helping Makati businesses recover from the blows dealt by the pandemic. Besides the closure or heavily diminished operations of commercial establishments, shops, and other enterprises, the mayor said she was also concerned about the job security of the tens of thousands of Makatizens they employ.

“When businesses are shuttered permanently, they have to let go of their employees. In Makati, businesses employ mostly Makati residents. This poses a double whammy for us — revenue losses for the city and loss of livelihood for our residents. This is why we are stepping up and doing something about it,” Mayor Abby explained.

She said the P100K MASB Program will not only pump prime the local economy, but will also promote the continued employment of Makatizens. She noted that she does not want Makati residents to become part of the more than 10 million people projected to be rendered jobless by the pandemic.                                             

Under the MASB program, small and medium-sized enterprises (SMEs) with special business permits endorsed by the Makati Barangay Business Association and other businesses may all apply for the grant. The amount released will vary on the number of Makati residents the business employs or if it is owned by a Makati resident.

For small and medium-sized enterprises, the grant will be as follows: 100 percent owned by a Makatizen with no Makati resident employee, P10,000; not owned by a Makatizen with one to two Makatizen employees, P10,000.00; 100% owned by a Makatizen with one to two Makatizen employee/s, P15,000.00; owned/not owned by a Makatizen with more than two Makatizen employees, P20,000.00.

For all other types of business, the following allocation will apply: 100% owned by a Makatizen with no Makatizen employee, P15,000; owned/not owned by a Makatizen with 1 to 3 Makatizen employee/s, P20,000.00; owned/not owned by a Makatizen with 4 to 6

Makatizen employees, P40,000.00; owned/not owned by a Makatizen with 7 to 9

Makatizen employees, P60,000.00; owned/not owned by a Makatizen with 10 to 12

Makatizen employees, P80,000.00; and owned/not owned by a Makatizen with more than

12 Makatizen employees, P100,000.00.

The grant will be used to pay for salaries of employees, both Makati and non-Makati residents, and for payment of supplies.  The money will not be released to the employers, but directly to employees and to their Makati-based suppliers.

According to Mayor Abby, there is no minimum period that the qualified business must be operating prior to the submission of the application for the P100K MASB Program.

However, after the grant is released, businesses must strictly comply with three conditions for the next two years: 1) They continue to operate; 2) They will not lay off any of the Makatizen employees, and 3) They will comply with the city’s ordinances and safety guidelines.

If a grant recipient violates any of the MASB Program conditions, Mayor Abby said the business is required to repay the amount in full within 30 days.


date_rangeDate Published
1 week ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

Malabon shares best practices against Covid-19 

account_balanceMalabon chrome_reader_mode1 week ago

Malabon City shared with the Coordinated Operations to Defeat Epidemic (C.O.D.E.) Team their best practices as well as the current concerns and challenges that they are facing with regard to the fight against the coronavirus disease 2019 (Covid-19). ...

Photo Courtesy of Makati PIO

Six new Makati centenarians receive P100,000 each

account_balanceMakati chrome_reader_mode3 days ago

Mrs. Esther P. Cruz of Brgy. Guadalupe Viejo holds up the P100,000-check she received from a staff of the Makati Social Welfare Department (MSWD) on Tuesday at her home. Born on May 12, 1920 in Negros Occidental, she obtained her Doctor of Medicine ...

Makati suppliers told to get accreditation

account_balanceMakati chrome_reader_mode15 hours ago

Mayor Abby Binay has invited Makati-based suppliers of goods and services to register with the city Business Permit and Licensing Office (BPLO) in order to qualify as beneficiaries of incentives being rolled out by the city government to boost and pr...

The struggles in 2020 of the casino industry in the Philippines

account_balanceMetro Manila chrome_reader_mode2 weeks ago

Do you want to learn more about the challenges and predictions for the gambling industry in the Philippines? Find all answers in this article!

Let's Stay Connected Like us on our Facebook page.
×
Click on the article to continue reading
Muntinlupa extends P1-million loan to cooperative Gov't to close all cemeteries nationwide during Undas DOH guidelines lead to 'low' fatality rate Crimes decrease 47% in 6 months Customs studies donating seized gadgets to students LTO releases new motorcycle plates Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature