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San Miguel Corporation vows P11.67B for COVID-19 response

Philippine’s largest conglomerate, San Miguel Corporation, allocated P11.67 billion to support the government’s efforts against the COVID-19 pandemic.

San Miguel Corporation, the largest conglomerate in the Philippines has set aside a massive P11.67 billion budget to support the Philippines to battle the crisis brought by the COVID-19 pandemic

SMC also grants its over 65,000 employees, including consultants and contractors, their full-time payment amounting to over P3 billion. In addition, SMC has also allocated P11.76 billion in tax, concession, and contractual payments throughout the quarantine period. The fund aims to be used for COVID-19 needs.

SMC said that it already paid P8.77 billion to the government, while the remaining fund will be remitted before the end of the ECQ. 

“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,” said Ramon S. Ang, President and COO of the company.

“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,” said Ang.

Prior to the fund, Malacañang said that President Rodrigo Duterte could ask Congress to pass a supplemental budget to add to the funds for the government’s effort against the pandemic.

“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 government and continue providing assistance where it’s most needed,” Ang added.

The SMC Group has also donated P1 billion worth of cash, food, flour, disinfectant alcohol, fuel, free toll and PPEs to vulnerable communities and front liners.

Furthermore, the conglomerate has also built emergency quarantine facilities in collaboration with the Armed Forces of the Philippines (AFP) to help ease the pressure on health facilities.