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SMC sets aside P11.67B to help gov’t fund COVID-19 response

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Tiebreaker Times SMC sets aside P11.67B to help gov’t fund COVID-19 response Basketball News PBA  San Miguel Corporation Ramon Ang Coronavirus Pandemic
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San Miguel Corporation (SMC) has committed to grant full-time pay to all its employees and extended workforce as the ECQ remains in effect, even as it works round the clock mobilizing resources to help address the larger societal and economic impact of the COVID-19 crisis.

The company has also announced that it has set aside PHP 11.67 billion in tax, concession, and contractual payments throughout the quarantine, to make available funds needed to respond effectively to the challenges of the pandemic.

Of the amount, SMC has already paid government PHP 8.77 billion, while the remaining balance will be remitted before the end of the ECQ.

Meanwhile, it has released full compensation with benefits amounting to over PHP 3 billion for all its 66,557 employees, consultants, and contract workers.

“These are trying times and while we, as a company, are not immune to the challenges of this crisis, the safety and security of our workforce will always come first. We do not want them worrying about their jobs,” SMC president and COO Ramon S. Ang said.

To all SMC employees, Ang said: “I am truly proud of the hard work that you, most especially our front liners, have been doing in the midst of the challenges: delivering essential goods and services that are critical in this battle. Please continue to adopt our malasakit mindset and focus on what we, as individuals, can do to make a difference, because many are counting on us.”

“We are also aware that we have a huge role to play across industries and we are lucky to be more equipped than the rest to navigate this crisis. That said, we remain steadfast in our commitment to assist the government and continue providing assistance where it’s most needed.”

To date, SMC and the businesses under it, have provided assistance of over P1 billion in the form of cash, food, flour, disinfectant alcohol, fuel, free toll, and personal protective equipment (PPE) donations to vulnerable communities and front liners.

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It has also built emergency quarantine facilities together with the Armed Forces of the Philippines (AFP) to help ease the pressure on health facilities flooded by patients needing intensive medical treatment resulting from the pandemic.

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