Sen. Edgardo Angara called on government to support micro, small and medium enterprises (MSMEs) to arrest the escalating rate of underemployment in the country.
According to figures released by the National Statistics Office (NSO), the number of underemployed persons in July 2012 was estimated at 8.5 million, the highest since 2006.
The data further revealed a large percentage of the underemployed were working in the services sector at 42.5 percent and agriculture sector at 41.5 percent. The underemployed in the industry sector accounted for 16 percent.
Angara said the government should extend financial assistance to MSMEs to help them grow and expand.
“It’s important to double our merchandise and services export in order to create higher paying and better quality jobs for the new graduates and those in the countryside,” he said.
The veteran legislator noted that almost 90 percent of jobs in the country are generated by MSMEs, and doubling the merchandise and services export can create at least nine million job opportunities.
He said past amendments to the Magna Carta for MSMEs (RA 9150) require lending institutions, under the supervision of the Bangko Sentral ng Pilipinas (BSP), to set aside eight percent of their loanable funds in favor of micro and small enterprises and at least 2 percent for medium enterprises.
Back small industries to curb underemployment, gov’t urged
- Written by Tribune
- Friday, 21 September 2012 00:00
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