extended the suspension of rentals and other payments due since the start of Luzon's enhanced community quarantine in March.
"But to better assist the businesses here in Subic, the SBMA opted for a longer time when payments could be deferred to give the local businesses enough time to recover," Eisma said."There is really a need to cushion the impact of the lockdown and provide economic relief to Subic stakeholders in support of RA 11469, or the Bayanihan to Heal as One Act," she said.
Those who will benefit from the payment grace period include business locators leasing lands, buildings and other infrastructure from the SBMA, and residents paying lease on a monthly basis. Interests and other penalties will also be applied to installments that were not paid on time, and all unpaid bills by the end of the October 27 grace period will start earning interests, charges, and penalties the following day, Eisma added.Subic Bay Marine Exploratorium, Inc. President and CEO Robert Gonzaga said that instead of a payment scheme, the government could better help businesses if they were not required to pay rent or gross revenue shares for the duration of the lockdown.
"The financial stimulus package now pending in Congress [must be expedited], so that tourism establishments – and other companies similarly affected – can avail of loans through government banks as conduits. This is a necessary remedy to the adverse effects of the lockdown to businesses. It will prevent more jobs being shed, speed up the recovery process, and ensure that businesses have a chance to survive," he added.
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