Photo Release

Hearing on DTI’s 2022 budget: Sen. Sonny Angara, chairman of the Committee on Finance, presides over a virtual hearing of Finance Subcommittee A on the P24.7 billion proposed budget of the Department of Trade and Industry and its attached agencies Tuesday, September 28, 2021. Angara asked Trade Sec. Ramon Lopez to present the details of the budget and give situations on how the economy can bounce back quickly and how the Senate can help the ailing micro, small and medium enterprises (MSME). In his presentation, Lopez shared the agency’s programs for MSME development such as Pondo sa Pagbabago at Pag-asenso, COVID-19 Assistance to Restart Enterprises (CARES) Program, Shared Service Facilities (SSF) and the establishment of fabrication laboratories. Angara stressed the support of the present Senate to the SSF program, a system where small business owners can share machines and equipment. Angara recalled that the Senate approved the following budgets for the program: P300 million in 2019; P574 million in 2020; and P623 million in 2021. (Screen grab/Senate PRIB)