Tuesday, 27 July 2021 16:39

Finance Committee issued favorable opinion for the reform of the FIREMPRESA Law

Written by Alondra Gutiérrez

The Treasury Commission issued a favorable opinion to reform the Ley de Creación del Fideicomiso de Recuperación Económica de las Empresas Salvadoreñas (FIREMPRESA), with the purpose of facilitating the delivery of the government subsidy to micro, small and medium-sized companies (MSMEs) as an aid before the increase of the minimum wage for one year.

"FIREMPRESA has been a very helpful tool for salvadorans. Now, this $100 million will be used to continue boosting the country's economy", said William Soriano, Deputy for Nuevas Ideas.

Meanwhile, the president of the Banco de Desarrollo de El Salvador (BANDESAL), Juan Pablo Durán, explained that a section will be enabled on the FIREMPRESA website: http://firempresa.gob.sv for employers to register the employees to be subsidized.

He also said that the Instituto Salvadoreño del Seguro Social (ISSS) will provide the base of the companies with the employees to be subsidized and then, the Bank's Operations Management will carry out the disbursement process for payroll payments.

The head of BANDESAL, said that this subsidy will protect more than 105 thousand jobs in micro, small and medium enterprises (MSMEs) for 12 months.