“But, where can we source the needed increase in investments when we are stifling our present investors in the oil sector – all in the name of populist politics?”
by Ducky Paredes
There is an observation that when you point a finger at anyone, there are three fingers pointing at yourself.
Thus, when Deputy Presidential Spokeswoman Lorelei Fajardo says that those who will watch the Pacquiao-Cotto fight in Las Vegas should spend their personal money and “don’t neglect their work.,” could she have been thinking of that dinner at Le Cirque? Or, perhaps, the number of times that the First Gentleman (when FG was still more robust) went with his gang to Las Vegas, occupying suites as expensive as blocks of mass housing units?
Fajardo hectors the officials-fight fans: “They should be more sensitive to the plight of their constituents. I’m not saying they should stay. As I said it is their decision, not ours. I think they are mature and responsible individuals and they know their priorities. We don’t have to tell them what to do.”
“Kung alam nila mas marming trabaho na naghihintay dito sa Metro Manila, pwede rin naman suportahan si Manny sa ibang paraan. Hindi naman kailangan pumunta doon,” she adds.
Storms can and do bring people back to their senses.
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In its latest report on East Asia and the Pacific, the World Bank sees the Philippine economy growing at 1.4 percent this year, and r in 2010 by 3.1 percent.
The report was released November 3 in Washington, D.C. Says the WB report: “Reaching a higher growth path will require increasing the share of investment in the economy, especially in infrastructure.
“Improving the business climate is key to achieving this objective. A higher intensity of investment would raise the potential growth rate of the economy and boost incomes, while helping rebalance the economy away from consumption as its key driving force.”
But, where can we source the needed increase in investments when we are stifling our present investors in the oil sector – all in the name of populist politics?
The WB also notes the “remarkable resiliency” of remittance flows even as as remittances were expected to decline due to the global economic crisis.
Notes the WB: “Strong deployment of workers abroad in 2008 and an extensive diversification of the overseas Filipino workers, whether by geographic location, skills, gender, or sectors of activity help explain the resiliency of remittances during the global crisis. Remittances are also expected to play a strong insurance role for families affected by the typhoons that hit the Philippines.”
If we had the right investments in the Philippines, we would not have to rely so much on remittances to make ends meet. If these OFWs were working in-country instead of being forced to leave because there are just no jobs available in the Philippines, their contribution to our economy would more than double. As it is, for every dollar they send back to the Philippines, they are adding several more dollars to the economy of their host countries.
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The call for the oil companies to open their books to the public as a way of gaining back the trust of the public is a complete misreading of what business is all about.
Will it make you feel better if on the menu of a restaurant, there is a breakdown of the pricing of a bottle of beer? Bought at P21.00, add P0.20 of ice, cost of washing the glass+ depreciations at two centavos, cost for tablecloth and laundry expense, waiter’s salary, electricity, rent, depreciation of everything in the resto and so on amounting to, say, a total P26.00 for which you are charged P80!
Will knowing all that give the resto any credibility with its regulars or will all of the resto’s customers insist on getting the beer at P22.00 or as close as possible to the original cost of the product?
It is foolish for any business to open its books to the public especially when oil at its present price is already expensive for anyone who uses oil in any of its forms and, in the eyes of the ones who own the land under which the inventory is located, too cheap.
We are an oil-dependent nation; thus, we must pay what the global market price will be. There is no other possibility.
If we will persist on controlling the price of oil – like some Queen Canuta futilely ordering the waves to stop – we will eventually lose whatever oil industry we pretend to have.
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“I join my constituents in thanking you for your article that recently appeared in the Malaya-The National Newspaper broadsheet. Your article has brought our city’s plight to the attention of the entire country and probably to the whole world for that matter.
“I commend the accuracy of the article for it contains factual data relative to the dispute between the Laoag City Government and the Laoag City General Hospital which is now the subject of an ongoing litigation in the courts.
“It is truly unfortunate that even the health of our people should suffer in the name of politics and certain politicians in our locality turn blind eyes to the proven fact that medical facilities in our provinces are truly insufficient to fully address the medical needs of our constituents.
“It is with fervent hope and prayers that your article will also reach the hearts and minds of those who have rebelled against the good cause of this administration and find it in their hearts to advocate a genuine unification and rally behind me to bring the best medical services to our people through the upgrading of the Laoag City General Hospital.
“Once again, thank you and may your tribe increase!” — Michael V. Fariñas, City Mayor
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I believe that if a modern hospital can be built by anyone – a private company or a local government unit (LGU), it should be built without looking at the bottom-line or wondering whether it will cut into the profitability of an existing hospital.
In this day and age, if you have a good hospital, people – even from outside the country – will go to your hospital, One should not build hospitals only for the residents of one barrio or town. A good hospital is one built out of a passion for good health and in pursuit of excellence – the idea that one can give the best medical service possible.
Looking at hospitals the way that the Governor of Ilocos Norte does only assures the continuation of sub-standard health care for his province’s sick.
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The Senility Prayer: “Grant me the senility to forget the people I never liked anyway, the good fortune to run into the ones I do, and the eyesight to tell the difference.”
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hvp 11.04.09
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