Business groups urge PagIBIG to waive penalties

The Philippine Chamber of Commerce and Industry (PCCI) Employers Confederation of the Philippines (ECOP) and the Philippine Exporters Confederation Inc. (PHILEXPORT) want the Home Development Mutual Fund (Pag-IBIG) to lift penalties for firms that have failed to remit employees’ savings for the past two years amid the pandemic.

“We are requesting from your good office to extend help in easing the burden of Filipino business owners who were affected by the pandemic by offering a penalty condonation program for businesses who failed to remit their employees’ savings within the past two years,” the business groups said in a joint letter to Pag-IBIG chief executive officer Acmad Rizaldy Moti.

In addition, the groups requested for Pag-IBIG to give business owners applying for a penalty condonation a longer payment plan to settle outstanding obligations.

The letter was signed by PCCI acting president Edgardo Lacson, ECOP president Sergio Ortiz-Luis Jr., and PHILEXPORT chairman George Barcelon.

Since last year, the groups said 35,049 establishments have filed for permanent closure, displacing 710,417 workers.

“While we also recognize that the majority of business owners were affected in recent years, we humbly ask consideration from your office to extend the same to businesses who may still have outstanding penalties due for payment to Pag-IBIG prior 2020,” the groups said.

“Doing so may help keep our businesses afloat during these trying times,” the groups added.

Article and Photo originally posted by Property Report Ph last September 15, 2021.