Duterte asks landlords, banks to help small businesses recover

  • President Rodrigo Duterte asked landlords and lessors to show compassion to their tenants during the time of COVID-19 pandemic
  • He asked landlords to come up with a an arrangement that will be fair for both parties
  • Duterte said this will be a big help for micro, small, medium businesses recover from the economic impact of COVID-19

President Rodrigo Duterte urged lessors and landlords to show compassion to their tenants as the country continues to face the ongoing COVID-19 pandemic.

image by PCOO

During Duterte’s 5th State of the Nation Address (SONA), he asked for fairness and compassion for tenants, especially those owners of small businesses. Duterte made an appeal that no lessee should be driven away due to delay in rent payments.

“Nananawagan po ako sa ating mga lessors… malasakit at bayanihan po sana ang pairalin natin ngayon. This is not the time to drive away lessees,” Duterte said.

He urged landlords to come up with an arrangement that will be fair to both parties.

“During normal times they were the primary source of your income stream. Now it’s time to be fair and compassionate; come up with an amenable arrangement with your tenants. ‘Wag po natin silang pagtabuyan, tanggalin ang tubig, kuryente at bubong,” Duterte added.

The President also requested owners of commercial establishments to allow “grace periods” for their tenants. He said this would really be beneficial especially to micro, small and medium businesses that are having financial problems due to COVID-19.

“Let us help them recover,” Duterte said.

Image by Moneymax

Duterte also ordered the Bangko Sentral ng Pilipinas and other banks operating in the country to provide micro, small and medium businesses with regulatory relief and to allow loan payment extension without incurring penalties and charges.

The Department of Labor said that last June more than 3,000 establishments across the country have permanently closed or cut back workforce due to the financial impact of the COVID-19 pandemic.

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