Roxas calls for immediate implementation of RA 9501

Sunday, June 1, 2008 | posted in , , , , , | 1 comments

Senator Mar Roxas today called for the immediate implementation of the Magna Carta for Micro, Small and Medium Enterprises (MSMEs), or Republic Act No. 9501, to expand small entrepreneurs’ access to financial resources and grow their businesses to full potential.
More than 90% of businesses are MSMEs, and they employ 70% of the workforce. On the other hand, due to limited financial resources, their contribution to national productivity is limited to 30%,” he said.
Under the said law, banks and other lending institutions will be mandated to allot a minimum 8% of their loan portfolio for micro and small businesses. At present, the minimum allotment is only 6%.

It also redefines micro, small and medium businesses: micro enterprises are those with total assets not exceeding P3 million, small enterprises are those with assets not exceeding P15 million, and medium enterprises are those with assets not exceeding P100 million.

The law also increases the Small Business Corp.’s authorized capital stock to P10 billion for the implementation of policies and programs to aid MSMEs.
The law seeks to develop MSMEs, to increase their capability to provide employment and to increase their contribution to the economy. But all of these will only be realized if the implementation plan would be immediate, clear and ‘down to the last centavo,” he said.

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Kevin Ray N. Chua

Kevin Ray N. Chua is a 19 year-old blogger from Cebu City, Philippines and an IT Student at Cebu Institute of Technology.

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Herson Juego
on June 8, 2008 at 2:52 AM  

I take it as axiomatic that every politician has his or her positive sides, although the question of "how much" can barely be determined immediately. That being said, I would like to posit this question:

What "negative" side should we know about Mar Roxas?

Let's all admit he's just human. If he hasn't erred, then by all means I'll be the first to call him god.

It's another way of phrasing the task of weighing politicians. Instead of looking solely on the brighter side of things, how about taking a fleeting glimpse on the "other", darker side.

So, just as many other politicians have committed mistakes, what's the one negative thing that we need to know about Mar Roxas?

Let's just be true to ourselves here. Let's not hype things and become hypocrites. And don't get me wrong, I have nothing personal against the Senator. I simply just want to know since I assume you're an authority in giving the virtual public a hint of who he really is.

I'll be waiting for a response if it wouldn't be too much for your cause.

~splice and dice

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