Pasig aims to boost small businesses

About P1.7 million in economic assistance was extended by the Pasig City government last year to its needy and unemployed residents to help them start their own small businesses and contribute to the city’s economic development.

The economic assistance was made available to the people under the "Puhunan Bigay-Buhay Program" of Councilor Robert Eusebio.

Through this program, the unemployed Pasig residents can gain access to micro financing for the establishment of various income generating business endeavors such as the establishment of sari-sari stores and food stalls.

Eusebio said that there are three financial assistance programs under his Puhunan Bigay-Buhay Program, namely the Tindahan Natin fund, Self-Employment Assistance fund, and Capital Assistance Projects.

According to Eusebio, 226 recipients have already availed of about P1.2 million under his Tindahan Natin Project, which resulted to the establishment of several small convenience stores in the city by former unemployed residents.

"This is for the establishment of a sari-sari type of store. This project proved to be the most popular as it is easy to set-up and manage," Eusebio said.

On the other hand, 135 individuals benefited from his Capital Assistance Project with a total amount of P453,882.00 in loans.

"These people were tapped by the city government under its Tsibug Pampalusog Program," Eusebio said. He explained that the Tsibug Pampalusog is also his health and nutrition project to improve the health and well-being of elementary school children especially those who live in depressed communities.

Under the Eusebio’s Self-Employment Assistance Project, 31 people were provided initial capital to put up food stalls or small eateries, totaling about P113,000 in loans. He explained that before the amount was released to the borrowers, they were given food trade training to ensure their competitiveness.

Eusebio emphasized that he would continue to push for the promulgation of other economic measures to spur further economic development. — Rainier Allan Ronda