Businesses hope for speedy aid to address immediate needs

Tax rebates, waivers of licensing fees, reduction in handling costs, more bridging loans will be welcome, says SBF

Published Thu, Mar 12, 2020 · 09:50 PM

Singapore

WITH the Covid-19 virus outbreak likely to last till the end of the year, businesses are hoping to get more help to retain their workforce and quicker aid within the next two to three months in the government's second support package.

"The package, regardless of size, should be targeted at preserving jobs and addressing the immediate needs of our businesses so they can survive," said Ho Meng Kit, CEO of the Singapore Business Federation (SBF). He expects that the second package will enhance the government's first Stabilisation and Support Package, offering more support over a longer period.

Businesses will welcome tax rebates, waivers of licensing fees and reduction in handling costs, as well as more bridging loans, Mr Ho said. Given that the virus is expected to …