HOME PAGE ABOUT US CONTACT US SUBSCRIBE ADVERTISE ARCHIVES
TOP STORIES NATION ECONOMY COMPANIES SHIPPING OPINION PERSPECTIVE LIFE SPORTS MOTORING
SEARCH ENGINE
WWWOur Site
Anchored by Jonathan dela Cruz, Salvador Escudero, Boying Remulla, Teddy Boy Locsin and Alvin Capino
Monday to Friday
8:00pm-10:00pm

ARTICLE SERVICES
  • bookmark this page
  • print this article
  • view archive
  •  

    It’s the economy, ‘pare’

    Those “Ramdam Ko” (roughly, I Can Feel) ads playing on TV featuring testimonials of citizens from all walks of life feeling or experiencing the impact of the touted economic gains since 2001 under this administration is a powerful reminder of where lies the regime’s resiliency in this time of turmoil.

    Absent said economic advances in the face of continued assaults from a mix of interests, this administration should already be tottering on the brink. It’s the economy, pare (friend), the regime has to nurse, else it can stumble.

    Truly, it is the health of the economy on top of President Arroyo’s steely nerves, the steadfast loyalty of the military and police forces to the Constitution and, of course, the public’s continuing fealty to our democratic processes—despite the beating it has been subjected to for months on end—which has kept the regime in place.

    It comes as no surprise, therefore, that this mix group of former senior government officials has trained its guns on what they derisively called the regime’s “economic PowerPoint mirage” after failing to get the administration on its knees with that one-week, five-step “cleansing and accountability” drive, or else.

    Built on a number of politically sensitive reconfiguration of the fiscal and economic package which has governed us for years on end, the stronger-than-usual economic performance these past few years has slowed down this regime’s inevitable passage to the predeparture lounge.

    Consider the battles which President Arroyo and her coalition have had to go through to pass the E-VAT, Epira, SPAV and the Agricultural Credit and Modernization, among others, and you will understand why she has had the good fortune of cushioning certain political demise from the scandals and missteps which have become almost synonymous with her administration.

    Indeed, quite apart from the enveloping fatigue for extraconstitutional regime change and the paucity of alternatives in terms of both agenda and personalities within the fractious opposition, it is the economy’s continued resiliency which has given this regime breathing space. Of course, it has resorted to heavy lifting on all fronts in responding to the crises swirling around it. But try as the critics may to degrade or discredit these economic gains, there simply is no denying the fact that we have been experiencing quite significant economic strides.

    Consider the following undeniable facts, among others:

    a) Gross domestic product growth at an average of 5.85 percent punctuated by a high of 7.3 percent in 2007—the highest in 31 years;

    b) The peso’s continued strength, maybe even overvaluation;

    c) Inflation staying within a respectable band;

    d) Job growth, especially in business-process outsourcing, overseas and service sectors;

    e) Growth in tourist arrivals;

    f) Sustained remittance and foreign-direct investment flows; and

    g) Steady growth in consumer spending, all of which point to a kind of resiliency, which may finally break the withering cycles of the past.

    Of course, a number of kinks exist blunting this otherwise respectable economic growth: widespread poverty remains; job growth may soon reach a plateau; oil prices and power rates are on the rise; typhoons and other calamities continue to visit a number of our productive areas; smuggling and other economic banes remain unresolved; “big-ticket” projects and privatization deals get snagged with charges of corruption and misfeasance; abuse of power on both the Executive and Legislative, even the Judiciary, serve as disincentive to growth and stability.

    But despite her seeming disconnect with a majority of our people, there is no denying that President Arroyo’s diligence and her untiring efforts, perceived or otherwise, to push for “workable and sustainable solutions to our problems rather than cozying up to quick-fix solutions which don’t work” are winning the day.

    In the end, it is how she handles the pocketbook issues which will carry her through in the face of all kinds of accusations of wrongdoing hounding the regime. For now, a majority continues to believe that she can hack it better than the alternatives, in and out of the administration. That belief should be nursed with humility, care and performance, not bombast and unconscionable gloating.

     

    What’s with Napocor, Mr. del Callar?

    Calling Napocor chief Cyril del Callar: kindly explain why your agency continues to labor with contrived and more expensive nonschemes in handling your annual coal requirements amounting to a staggering 3.45 million tons (MT).

    You know that you have to supply this huge amount to keep some of the biggest power plants in the country, such as Sual, Pagbilao, Naga-Cebu and Masinloc, among others, under carried-over, highly objectionable power-purchase adjustment deals, yet you continue to insist on sourcing through contrived auction rules which ultimately translate into negotiated deals.

    Instead of working for long-term supply arrangements with reputable suppliers, you insist on these “sari-sari store, off-the-shelf” activity which can only translate to higher prices and unreliable supplies.

    The latest del Callar “contract” awarded to Indonesian firm PT Masiterno Prakarsa is one good example. After putting the same to auction known only to a select few, Napocor eventually resorted to a simplified negotiation to award the 195,00-MT contract for March delivery at a price which some insiders claim is at least $10/a ton over similar deliveries.

    Had the same been worked out as part of bigger supply arrangement earlier than usual, which is to say last year, our sources say the national power company would have been able to get considerable discounts and, of course, the gratitude of millions of consumers who would have been spared from paying for higher electricity. But, no. Mr. del Callar and company would rather do it their own unique and problematic ways.

    The lesson is clear. If you want to save on cost and do your job to your principal constituent, in this case the consuming public, plan out well in advance and secure your requirements on time, not under the gun or time constraint. Stop misreading or even misusing your mandate to do all kinds of contortions or somersaults to the public detriment.

    The suppliers and, yes, the consumers will see through those schemes and will probably hold you by the balls sooner than you realize it. Unless you get excited being held by the short hairs for reasons known only to you, even at the expense of your principals as a public official.

    It does not take a rocket scientist to realize that advanced planning and thorough, not time-constrained, negotiations under contrived conditions work out best, ’di ba? 

    OTHER STORIES
    Editorial: Rhetoric vs reality

    Just how serious is the Arroyo administration in fighting corruption? 

    If President Arroyo is to be believed, her administration is determined to put an end to malfeasance in the bureaucracy.

    read more

    Ann Woolner: What is so wrong with an emperor paying for sex?

    However riveting the reading, turn away for a moment from those pages in the FBI affidavit concerning “Client 9” and “Kristen.”

    read more

    The Entrepreneur: What investors see that we don’t see

    THE ongoing Senate investigation into the controversial $329-million ZTE-NBN contract may be the most frequently reported event these days, but it is not a significant factor behind the behavior of the stock market, or even the economy.

    read more

    Coast-to-Coast: It’s the economy, ‘pare’

    Those “Ramdam Ko” (roughly, I Can Feel) ads playing on TV featuring testimonials of citizens from all walks of life feeling or experiencing the impact of the touted economic gains since 2001 under this administration is a powerful reminder of where lies the regime’s resiliency in this time of turmoil.

    read more

    Personal Finance: The challenges of life-insurance professionals

    When I was still in life-insurance sales (in an agency), which seems to be eons ago, I felt that there was a great need to start evolving our practice.

    read more

    Reflections from the Mirror: A season of forgiveness

    It’s neither too early nor too late to greet the Filipino people “Happy Easter,” and in so doing, I hope that as we celebrate Christendom’s observance of the passion of the Lord, we also reflect on the state of our nation which is being torn asunder by selfish politicians and disgruntled elements who eat breakfast,

    read more

    Dean de la Paz: Senate Suckersville

    What started out as a righteous, albeit indignant, Senate inquiry into high-level corruption within the sacrosanct, though sanctimonious, corridors of the Executive has, by deliberate design, degenerated into the absurd.

    read more