As they laud the Department of Trade and Industry (DTI) for updating the suggested retail price (SRP) last January, the Philippine Chamber of Food Manufacturers Inc., (PCFMI) is now urging a regular update of the SRP so that micro, small and medium enterprises (MSME) can attain swift rebound amid the still persisting world health crisis.
In a statement, PCFMI’s immediate past 1st vice president and chairperson for Legislative Committee Helen Grace Baisa, said the group remained hopeful that the DTI will consistently consult with all concerned stakeholders before setting the prices.
“(This is beside) regularly updating the SRP bulletin on a quarterly basis to equip the manufacturers to promptly react and plan ahead for their business operations,” she added.
But on top of this, the group, consisting of major food manufacturers and distributors, commended DTI for heeding the call to release an update on the SRP bulletin.
In January, PCFMI called on the DTI to revisit the SRPs of basic necessities, which was believed to prompt businesses to boost their operations and keep up with current consumer demand.
The PCFMI official noted that the recent SRP adjustment in late January showed the department’s inclination to address industry concerns that hinder an economic upturn, but despite the positive impact of the updated bulletin, the chamber recognizes that MSME should not be forgotten in the recovery equation.
Support projects set
“Our MSME are persisting to tackle a sharp drop in revenue so we continue to encourage our members to work on projects that can significantly support them,” she added.
Many of its active members including Coca-Cola Beverages Philippines partnered with the DTI to help MSME with entrepreneurial capacity-building, increased access to markets and provision of micro-finance.
Coca-cola was involved in the launch of the Tatak Matatag na Negosyo — Sustainable Stores Movement last year with the goal of supporting a safe economic recovery of the retail industry.
While Alaska Milk Corporation has initiated efforts to aid MSME such as the signing of the memorandum of agreement with DTI’s financing arm Small Business Corporation in implementing the Sustaining Trade and Access to Primary Food and Link to Enterprises Program.
This allows MSME of Fast Moving Consumer Goods companies access to collateral and interest-free loans from SBCorp for their working capital requirements.
Nestle Philippines, on the other hand, has a project with the DTI involving the implementation of the Rural Agro-Enterprise Partnership for Inclusive Development and Growth Project which aims to help coffee farmers achieve higher income.
These initiatives are part of the companies’ commitment as government partners in nation-building.
“We believe that initiatives like those made by our members and our partners in government ensure that no one is left behind in the supply chain network amidst the post-pandemic era,” according to Baisa.
