Business groups call on new lawmakers to pass key measures

THE PHILIPPINE Chamber of Commerce and Industry (PCCI) has called on the new Congress to pass key economic measures to promote competitiveness and business growth in the country.

- Justine Irish D. Tabile

"As the country anticipates the final and official results of the midterm elections, the PCCI, the largest business organization in the country, hopes for the new Congress to pass economic measures that support and promote competitiveness and business growth," the group said in a statement on Tuesday.

Among these measures is the Magna Carta for micro, small, and medium enterprises (MSMEs), which the PCCI said will extend banks' mandatory loan allocation for small businesses. It will also remove the Bangko Sentral ng Pilipinas' regulatory cover on SB Corp., which will allow the extension of MSME loans within an out-of-the-box framework.