THE Oro Chamber of Commerce and Industry Foundation, Inc. has formally requested an extension of the deadline for business permit renewals from January 20 to February 29, sending a letter to City Mayor Rolando Uy.
In their communication dated January 8, Oro Chamber outlined the challenges faced by local businesses in meeting the requirements for business permit renewal by the original deadline.
Factors contributing to the delay included businesses still recovering from the impact of the Covid-19 pandemic and the substantial overhead expenses incurred during the holiday season.
The proposed extension to February 29, as stated in their letter, aims to provide local businesses with sufficient time to complete the requirements for renewal.
The Oro Chamber believes that this extension will contribute to maintaining a positive business climate in the city.
The letter, signed by Dr. Jesus Jardin, the newly appointed Oro Chamber president, and Raymundo Talimio, chairman, emphasizes the need for flexibility given the varying conditions of the 30,000 businesses in the city.
In an earlier interview with Gold Star Daily, Talimio highlighted the diverse situation of businesses, with some thriving while others are still recovering from the pandemic. He emphasized that the extension is crucial for sectors facing challenges such as managing cash flow after the extended holiday period.
Talimio also pointed out additional economic pressures, including a recently approved 33% wage increase by the Regional Tripartite Wages and Productivity Board-10. He noted that January also brings an increase in Real Property Tax, making the deadline particularly burdensome.
Meanwhile, Councilor James Judith expressed support for the Oro Chamber’s request, stating that the City Council is likely to approve the extension. He acknowledged the vital role of the business sector as the lifeblood of Cagayan de Oro, contributing significantly to the city’s economic growth through tax contributions.
“We cannot afford to deny the extension within the bounds of the law; we understand and recognize that our entrepreneurs are the lifeblood of our city,” said Judith.
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