Malacañang on Sunday sought to balance the negative perceptions of the strong peso on the export sector and dollar-earning Filipinos by citing government and consumer savings derived from reduced debt servicing and a stable inflation rate.

In his weekly column, “The View from the Palace,” Press Secretary Ignacio Bunye said the administration remains committed to pursuing safety nets for the concerned sectors and providing “quality” government assistance to overseas Filipino workers (OFWs) in recognition of their huge economic contribution at the cost of “heroic” personal sacrifices.

“The saga of a strong peso continues, and we must be conscious of its positive and negative effects on our national life. The strength of the Philippine peso has served us well in acting as a buffer against the rising tide of oil prices in the world market,” said Bunye.

Citing data from the Department of Energy, Bunye said the average savings in 2007 from the appreciation of the peso from 51 to a dollar of end-October, is around P2 per liter for both unleaded gasoline and diesel.

He added the stronger peso “translates into huge savings in debt appropriation” as attested by the Department of Budget and Management, which estimated savings in 2006 to reach P15 billion, and savings up to end-September  at P24 billion.

“This is due in large measure not only to peso appreciation but also to increased creditor confidence as a result of our prudent deficit management. The savings, in turn, allowed the government to propose huge increases in the 2008 budget for education, health and infrastructure,” he said.

Bunye said that government is aware of the pros and cons of a stronger peso, and “this is why the Bangko Sentral ng Pilipinas has come up with measures to temper the peso appreciation and ensure overall stability in the foreign-exchange market.”

“The country prepaid some its foreign obligations, temporarily halting the strengthening of the peso but reducing our debt service further down the road,” he said.

“Also, our OFWs deserve quality support and assistance from the agencies of government considering their heroic sacrifices to help the nation and secure a brighter future for their families,” he added.

Malacañang on Sunday sought to balance the negative perceptions of the strong peso on the export sector and dollar-earning Filipinos by citing government and consumer savings derived from reduced debt servicing and a stable inflation rate.

AS investigators declared the bombing at the House of Representatives “solved but not closed,” Director General Avelino Razon Jr., National Police chief, will meet on Monday with Speaker Jose de Venecia Jr. and Senate President Manuel Villar Jr. to discuss the new security arrangements in both houses of Congress.

INVESTIGATORS will file on Monday murder and multiple frustrated murder against three arrested suspects in the Batasan bombing on Tuesday night that killed four people, including Liberal Party Rep. Wahab Akbar of Basilan, and injured 12.

SINGAPORE—Foreign Affairs Secretary Alberto Romulo said Sunday Manila supports a move by Singapore to invite United Nations Special Envoy Ibrahim Gambari to update the East Asia Summit (EAS), to be held also in the city-state, on the situation in Myanmar despite the Burmese junta’s reluctance to accept this plan.

LUCENA CITY—Residents of Quezon province on Sunday asked the President to stop the planned partition of the province into two.

GREECE and the Philippines have long enjoyed mutual benefits despite their geographical separation.

DIRECTOR General Avelino Razon Jr., National Police chief, on Sunday vowed to pursue the force’s internal-reform program through swift and decisive action against erring policemen.