The Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) — the main collection agencies of the government — missed their respective collection targets for the first quarter, posting a combined revenue shortfall of P156.26 billion mainly due to the Luzon-wide lockdown. 



SMALL businesses are estimated to suffer P465.3 billion in financial losses this year as they were forced to temporarily close or operate on a skeletal force as the country struggles to contain the spread of the coronavirus disease 2019 (Covid-19). 

Based on estimates by the Department of Finance (DOF), small businesses operating in malls and other retail outlets would incur losses of about P461 billion while those that have remained open but on skeletal force will lose around P4.3 billion. 



The cancellation of trade fairs in the first half of the year cost the Philippines nearly P3 billion in export sales, and this is expected to shoot up should organizers decide to call off events for the second half, a likely possibility if the coronavirus pandemic worsens.



Fire razes over 200 homes in the slums of Tondo, Manila, but people there, used to a ‘bayanihan’ way of life, say they’ll rise again – with divine mercy, and despite the painful words of the ignorant.



IS unites Mindanao terror groups in Sulu amid coronavirus 2019 pandemic

The  government is moving toward a calibrated lifting of the six-week enhanced community quarantine (ECQ) after April 30, in a bid to balance economic rebooting with decisively curbing Covid-19—an effort that health authorities said Thursday indicated signs of improvement, with the curve on track toward “flattening” but not yet quite there.


Fearing that a martial rule-like lockdown will further obstruct the flow of goods, the Philippine Economic Zone Authority (Peza) has appealed for the integration of quarantine rules instead to improve the fight against the coronavirus pandemic.


After a five-hour meeting with former health secretaries, his top economic advisers and Congress leaders on Monday, President Duterte remains undecided on his next course of action on the enhanced community quarantine (ECQ) in Luzon. While he received an almost unanimous recommendation from medical experts to “modify” its coverage when it lapses on April 30, Duterte is weighing all ramifications of a premature lifting or a needlessly sweeping extension. 


House leaders on Monday called for the extension of the enhanced community quarantine, saying lifting the ECQ amounts to carelessly exposing the entire population to Covid-19, thus delaying the economic recovery period.
 As they made the call, President Duterte consulted with former Secretaries of Health on the best approach in deciding whether to lift the extended ECQ, as scheduled, on April 30, or order another extension, or impose a modified lockdown specific to certain areas or sectors.


As many look forward to the lifting of the Luzon-wide enhanced community quarantine (ECQ) by the end of April, as well as the suspension of various lockdowns in several parts of the country implemented to contain the spread of the coronavirus disease (Covid-19), tourism stakeholders are crossing their fingers they will be able to jumpstart their respective businesses and renew relationships with their clients.


Jobless workers hoof it home to escape hunger during lockdown. Some Zambales residents locked in by the Luzon-wide enhanced community quarantine are heading back to their hometown on foot, their stories tugging at the heartstrings of those monitoring their difficult journey back home.

BSP RENDERS OFF-CYCLE KEY RATE CUT OF 50 BPS
THE Bangko Sentral ng Pilipinas pulled out an unscheduled rate cut in what it deemed an effort to help insulate the economy further from the effects of the global pandemic. 



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BusinessMirror - April 20, 2020

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