DAVAO CITY — The Davao City Chamber of Commerce and Industry Inc. (DCCCII) has called on banks to allow deferred payment of business loans for at least two months for businesses affected by the coronavirus disease 2019 (Covid-19) pandemic.
In an interview on Friday, DCCCII president John Carlo Tria told the Philippine News Agency (PNA) that the move would cushion the adverse impacts of Covid-19 to businesses such as hotels and tourist establishments, which he said are experiencing losses since the end of 2019.
Tria also pointed out that tourism-related businesses are still reeling from the effects of the successive earthquakes in Mindanao, causing booking cancellations.
“The call is for the establishments particularly tourism-related businesses who needed some breathing space because they have been experiencing losses,’ he said.
Tria said the businesses, especially those in the hospitality industry, are expected to incur more losses if the Covid–19 pandemic persists.
“It will help the companies to respond better. We ask for the deferment as well as the loan penalties, but this will always depend on the banks,” he said. “That’s why we come up with this statement for them to consider the deferment of payments on business loans,” he added.
DCCCIII also called on the Department of Trade and Industry and Department of Agriculture to monitor–and when necessary–impose price controls on critical commodities.
It also urged employers, employees, and the general public to cooperate with government efforts to control the spread of the disease. (PNA)