BUSINESS  REMAINS  NORMAL  DESPITE  EMERGENCY  RULE

MANILA, March 3, 2006
 (BULLETIN) By BERNIE CAHILES–MAGKILAT - It’s business as usual.

Thus, said Trade and Industry Secretary Peter B. Favila after the calm that followed a tumultuous weekend.

"Amid tensions in the political arena, business remains normal. Free market forces dictate the prices of basic commodities and that business transactions remain unhampered," Favila said.

Favila cited reports abroad and from DTI regional offices, which cited that businesses are unfazed by the recent turn of events.

"Our field reports from various provinces reported that prices and supply of commodities in the market are stable," he added.

Likewise, the country’s international trade is not affected.

"I have yet to receive a complaint from businessmen that their export shipments from the Philippines are being delayed because of the recent developments," he added.

With the encouraging developments, Favila has urged businessmen in the country to conduct their businesses as usual despite the political noise.

He clarified that the government has no intention of taking over private companies.

As member of the government economic team, Favila is in favor of the early lifting of the State of National Emergency under Proclamation 1017.

"We are mindful of the nation’s tenet on free enterprise and that the economy will develop further if nurtured in an environment of level playing field," Favila said.

"I hope that during these unusual days, businesses will also exhibit unusual focus in seeing to it that the wheels of the country’s economy grind even faster," he said.

He challenged businessmen to be catalysts in greater economic productivity and belie predictions of an economic downturn.

Favila added that business should be immovable by jitters caused by dissent from different sectors

"On the other hand, I would like to encourage more boldness in businessmen to look at the opportunities presented by the recent developments," he added.

"It will be disheartening if business will lose its focus on the real issue and that is making profitable ventures," Favila added.


Chief News Editor: Sol Jose Vanzi

© Copyright, 2006  by PHILIPPINE HEADLINE NEWS ONLINE
All rights reserved


PHILIPPINE HEADLINE NEWS ONLINE [PHNO] WEBSITE