Sunday, March 10, 2013

Adopt Measures To Protect Economy Vs. Foreign Capital Flight, Bro. Eddie Urges Government

Bangon Pilipinas lone senatorial candidate Eddie Villanueva on Sunday urged the government economic managers to institute measures to protect the economy against the possibility of capital flight, following warnings from an international credit ratings agency.

Villanueva said the government should take heed of Standard and Poor’s word of caution for the Philippines and other emerging markets in the Asia-Pacific region on the potential reversal of the recent surge in portfolio investments in the local stock market once the United States and European economies recover.“The government should put in place safeguards that will protect our economy from the sudden outflow of foreign hot money. Let's learn the lessons of the 1997 and 2008 financial crises, where hot money, or portfolio investments, was the primary culprit,” Villanueva said.

Focus on attracting solid investments in agriculture
“We should be reminded that any investment in the Philippine stock market can go out as quickly as they came in.”

Villanueva said the government should focus more on attracting more solid investments in the agricultural sector which holds the biggest potential for a sustainable base for economic development.

He noted that the Philippines is an agricultural country and majority of the population – including many poor Filipino households or the sagigilids – belong to the agricultural sector, and that new investments in this sector which directly translates to more jobs and higher incomes for the country’s agricultural workers.

“We should invite more direct investments in agriculture both from foreign and domestic sources in order to build an economy that will concretely benefit our country by providing real jobs and, at the same time, shielding us from the volatility of hot money easily leaving our shores,” Villanueva said.This will also serve to accelerate the recovery of the country’s agricultural sector which has lagged against regional neighbors in recent decades, he added.

Villanueva said government policies that will encourage organic food production, food security, and production of materials for clothing and shelter using agricultural and forestry by-products will provide a much-needed boost to the sector.

Incentives for agriculture sector
The government should also consider giving subsidy for farm implements, work on lifting tariff and customs fees for farm equipment and machineries, and explore the possibility of extending other funding assistance for farmers and farmers’ cooperatives.

Further, the government should also review its policies on the importation of agricultural products and other trade commitments to ensure that the country’s farmers are protected from unfair global trade, Villanueva said.

“By putting agriculture at the center of the government’s economic agenda, we will not only develop a solid base for economic growth and ensure food security for our people, but we will also bring the country back on the global map as a producer of one of the most vital commodities in the world, which is food,” Villanueva said.

Friday, March 8, 2013

Bro. Eddie Pushes for Revival of Anti-Usury Law

Citing unconscionable interest rates collected on loans, Bangon Pilipinas lone senatorial candidate Eddie Villanueva on Friday pushed for the revival of a 1916 law that provides ceilings on interest charges on loans.

Villanueva said if elected to the Senate, he will file a bill to put back into effect the Anti-Usury Law, which was amended by Presidential Decree No. 116, fixed the maximum interest rates on loans at 12% per annum.

He said such a measure will restore protection to Filipinos who, wittingly or unwittingly, take out loans despite high interest rates – worsening the borrowers’ financial problems.

“The most vulnerable in this ongoing scheme are our sagigilids. Take the case of our overseas Filipino workers who had to borrow money from 5-6 so they can pay for the placement fees and other related charges so they can work abroad to fend for their families,” Villanueva said. “In the first few months of them working abroad, they have to pay off those high-interest loans.”

“And then there are our farmers, fishermen and poor families who are forced to live in debt because they cannot earn enough to live a decent life. If we are to help them break out from the cycle of poverty, we need to have a law that will protect them from these abusive lenders,” Villanueva said.

“We need to have a law that will save Filipinos from becoming willing or unwilling victims of 5-6 and other usurious forms of loans.”

He noted that the Anti-Usury Law will cover institutional lenders such as banks and credit unions, peer-to-peer lenders, and credit card companies and prevents them from charging unconscionable interest rates on loans given to borrowers.

Villanueva said the general features of the proposed law include fixing a legal ceiling limit on how much a can lender impose as interest rate. That limit can either be based on inflation or the 91-day Treasury bill, whichever is lower.

In February 1916, Congress enacted Republic Act No. 2655 entitled “An Act Fixing Rates Of Interest Upon Loans And Declaring The Effect Of Receiving Or Taking Usurious Rates And For Other Purposes” setting interest rates at “six per centum per annum.”

The law was amended in January 1973 by Presidential Decree No. 116, adjusting the maximum rate of loan interests to 12% per annum.

In December 1982, however, the then-Central Bank of the Philippines issued Circular No. 905 that effectively suspended the law by removing the ceiling on interest rates.

According to Villanueva, many lenders have since exploited the suspension of limits on interest rates, charging up to 42% per annum in compounded interest.

“Without government intervention on the current sky-high interest rates being collected by lending firms and individuals, Filipino consumers – but most especially the poor – will sink deeper into the debt trap in their desire to put food on the table and a roof over their heads,” Villanueva said.

Thursday, March 7, 2013

Government Not Doing Enough To Generate Jobs

Students who are graduating from college and technical-vocational trainings at the end of this school year will continue to face difficulty in finding jobs – the same problems faced by many Filipinos who entered the workforce in past years.

Bangon Pilipinas lone senatorial candidate Eddie Villanueva on Thursday said this problem stems from the government’s failure to create enough jobs that can accommodate new entrants to the workforce every year, and the lack of effective measures being done to narrow the skills-jobs mismatch.“Every year, our fresh graduates face the same problems. Sadly, the government is making very limited progress in creating an environment that will encourage the creation of local jobs,” Villanueva said.

The senatorial candidate cited findings in the Second Anniversary Assessment of the Arangkada Philippines Forum – a joint project by the joint foreign chambers of the Philippines – that the economy is not creating enough high quality jobs for an average of 846,000 Filipinos who join the workforce every year.The report stated that the lack of local jobs is a reason why the Philippines has the highest brain drain among ASEAN-6 countries, with 2012 local unemployment rate at 7.2%, and underemployment at 18.8%, according to the National Statistical Coordination Board (NSCB).

Ordinary Filipinos not feeling strong economy
Villanueva said these findings puts into context the economic achievements being touted by the government, saying the high unemployment and underemployment levels indicate that ordinary Filipino families are not feeling the benefits of a stronger economy.

“While we recognize the advances made on investments, infrastructure development, and the economy in general, we should continue to ask this question: Where are the people, especially the sagigilid, in the bigger scheme of things? How do we know if these investments are really helping our people? Because the so-called progress does seem to be reaching everyone,” Villanueva said.“In order to be really inclusive, people should be the starting point in any discussion on economic development.”

Villanueva said this should serve as another wake-up call for the government to revise school curriculum to develop graduates with solid skills that are highly in demand in high-growth sectors such as in agribusiness, information technology , and entrepreneurship.Reforms in the Philippine educational sector is one of the three pillars of Villanueva’s 3Es platform – Ekonomiyang Agresibo’t Walang Napag-iiwanan, Edukasyon na Napapanahon, at Entre-Pinoy na Masang Pilipino ang Nangunguna at Nakikinabang. The 3Es is focused on ensuring that marginalized sectors – or the “sagigilids” – will not be left out of the country’s development.

“We need a curriculum that emphasizes subjects and skills that are highly-demanded by the labor market, while ensuring students’ mastery of core subjects such as English, Science, Mathematics, Philippine History and Active Citizenship, and the Arts that are needed to develop necessary cognitive skills for global and creative thinking,” Villanueva said.“The government should mold our educational system into an institution that plays a key role in pushing the country’s productivity by leading research and development initiatives in key sectors such as agriculture, agro-tourism, entrepreneurship, and science and technology.”

As part of his campaign platform, Villanueva also proposes the establishment of Community Entrepreneurial High Schools to encourage a thriving micro-, small- and medium-enterprises that can open up more jobs for Filipino workers and professionals.

Tuesday, March 5, 2013

Government Fails On Its Promise To Bring Prosperity To The Poor - Bro. Eddie

Bangon Pilipinas lone senatorial candidate Eddie Villanueva on Tuesday said government has failed to deliver on its promise to alleviate the plight of the marginalized sector, citing data which shows a growing distance between the country’s rich and poor populations.

“Clearly, the increasing gap between the rich and poor Filipinos show how the government has failed in its decades-old promise of bringing development and prosperity to the country’s poor,” Villanueva said.​

At a recent economic forum, data presented by former economic planning director-general Cielito Habito show that in 2011 the wealth growth of the 40 richest individuals in the country is equivalent to 76% of the country’s gross domestic product (GDP) growth. This is the highest in Asia as the wealth growth of Thailand’s top 40 was only at 33.7% of its GDP growth while it was 5.6% for Malaysia. ​

nder the Forbes 2012 list of the wealthiest people in the Philippines, Henry Sy and Lucio Tan posted a combined wealth of over $13.6 billion which is equivalent to 6% of the entire Philippine economy.​

Villanueva said the government’s economic managers need to give more focus on bridging the increasing divide between the two groups, noting that these numbers provide empirical support behind the common sentiment that very few are benefitting from the country’s economic growth.

“While unfortunate, this data supports our advocacy of pursuing our politika at ekonomiya ng sagigilid that brings the interests of our poor to the fore of the government’s policies,” he added. “This validates the need for urgent reforms in the government’s policies to ensure that the poor is not left out of economic gains.”

Villanueva’s campaign is anchored on inclusive growth that will benefit the country’s underserved, under-represented, and poor sectors – or those he collectively refers to as the “sagigilid”.

​Villanueva’s 3Es platform – Ekonomiyang Agresibo’t Walang Napag-iiwanan, Edukasyon na Napapanahon, at Entre-Pinoy na Masang Pilipino ang Nangunguna at Nakikinabang. Economy – pushes specific policy reforms that will empower marginalized Filipinos and provide necessary infrastructure to allow them to benefit from the country’s economic gains.

Under his platform, Villanueva proposes legislative measures that will support a “genuine” agro-industrial development which, he said, will directly increase earnings of many poor Filipino households that belong to this sector.

He also supports legislation that will protect and uphold the rights and interests of the Overseas Filipino Workers (OFWs) and measures that will prepare the local environment for their eventual return to the country.

As part of his economic platform, Villanueva proposes amendments to the Local Government Code that will focus on enhancing the sharing scheme of both internal revenues and the national wealth.​

On education, Villanueva advocates higher government investments in the sector, consistent to his belief that competitiveness is not only a function of relevant physical infrastructure, but also of a highly educated human resource.

On employment through entrepreneurship, Villanueva seeks measures that will establish Community Entrepreneurial High Schools throughout the country. These schools are envisioned to transform students, parents, and communities into entrepreneurs capable of growing micro, small, and medium businesses with the help of teachers and the local government.​

“No real progress leaves out majority of the population in the throes of poverty and insecurity. With the increasing gap between the country’s rich and poor populations, it is even more important now for us to push government to adopt policies that will shift how it views development and see it in terms of how it will ultimately impact the country’s “sagigilid”,” Villanueva said.

Monday, March 4, 2013

Bro. Eddie Tells Government: Get Your Act Together Over Rice Policy Issue

Bangon Pilipinas lone senatorial candidate Eddie Villanueva urged three government agencies to “get their acts together” over disagreements in proposed reforms on the government’s policy on rice self sufficiency.​

Villanueva said the Department of Agriculture (DA), National Economic Development Authority (NEDA) and Department of Budget and Management (DBM) should sit down and discuss the repercussions of proposals to lift restrictions on rice imports and abolish the National Food Authority (NFA).​

Villanueva noted that any changes to the government’s policy on rice self sufficiency should, first and foremost, consider the plight of the small farmers – many of whom are forced to live in debt because they cannot earn enough to live a decent life.​

“The government should get its act together in reforming its rice self-sufficiency policy and work to ensure the protection of the small farmers, those who will be really vulnerable,” Villanueva said.​

“These proposed changes to such vital public policy should be thoroughly vetted in public to ensure not only the transparency in the adoption of a new policy but, more importantly, that the possible effects of the policy shift are sufficiently discussed and addressed.”​

News reports cited pronouncements from a top DA official assailing the lobbying by NEDA and DBM to lift limits on rice importation and abolish the NFA.​

Villanueva said he opposes the lifting restrictions on rice imports, saying this further exposes farmers to unfair competition coming from cheap produce from heavily-subsidized agricultural sectors abroad. He noted that the government is achieving little progress in addressing farmers’ concerns over the high cost of rice production with the continually increasing price of fertilizers, seeds, tools, and other farm inputs.​

“The lifting of existing barriers to rice importation goes against our objective of protecting our farmers from unfair global trade. How can our small farmers who receive very little support from government in terms of subsidies as well as technological and infrastructural support compete with more mature agricultural sectors abroad that are heavily subsidized by their governments?” Villanueva said.​

Villanueva also said he supports calls to abolish the NFA, saying the agency’s current dual role as trader and regulator has resulted in grossly overpriced deals entered into by the agency.

​“We support proposals to abolish the NFA, but we must ensure that safeguards are put in place to protect our small farmers through this transition,” Villanueva said, adding that the mandate to regulate rice purchases be transferred to the DA proper.

Sunday, March 3, 2013

Bro. Eddie Confirms 'Unwritten Covenant' With Hagedorn

Bangon Pilipinas lone senatorial candidate Eddie Villanueva on Sunday confirmed an “unwritten covenant” between him and fellow independent senatorial candidate Edward Hagedorn.​

Villanueva, who visited Palawan over the weekend, said the alliance was discussed during a lunch meeting with Hagedorn in Puerto Princesa on Saturday.​

As part of the understanding, Villanueva said he and Hagedorn will be jointly conducting certain provincial campaign sorties. Both camps have agreed to schedule a joint visit in Davao and Bulacan.​

“Yes, Mayor Hagedorn and I have an unwritten covenant to support each other’s senatorial campaign,” Villanueva said. “Mayor Hagedorn is a long-time friend and shares, in principle, my belief that no one should be left out of the country’s economic growth which sits at the core of my advocacy of ‘politika at ekonomiyang sagigilid.’”​

Villanueva kicked off his visit in Puerto Princesa with a courtesy call to Hagedorn on Saturday. This was followed by a meeting with board member Chicoy Alvarez who vowed to support Villanueva’s bid, and later a dialogue with multi-sectoral groups in the city where he discussed his platform which he refers to as the 3Es – Ekonomiyang Agresibo’t Walang Napag-iiwanan, Edukasyon na Napapanahon, at Entre-Pinoy na Masang Pilipino ang Nangunguna at Nakikinabang.

​Initially planned only for Saturday, Villanueva extended his visit to Puerto Princesa upon the invitation of Hagedorn to join residents in the celebration of the Balayong Festival.​

Villanueva also joined Hagedorn on the mayor’s float during the parade.​

The festival – which marks the city’s founding anniversary – was highlighted by balayong tree-planting activity, street dancing and colorful floral parade depicting the Palawan Cherry Blossoms from which the festival’s name was derived from.

​“The impressive display of colors and tradition during the Balayong Festival really reflects the city’s unique culture and its people’s hospitality and friendly outlook,” Villanueva said.

​“We came here ready to meet the city’s residents and answer their questions but we were treated to a lot more than what we expected. And it made my visit to the city a lot more memorable,” he added. “I’ve always treated Palawan as my second home.”​

Since the start of the campaign period, Villanueva has visited various provinces to bring his “politika at ekonomiyang sagigilid” to local leaders and residents which, he said, is the best way where he can emphasize his advocacy.​

Villanueva uses “sagigilid” to collectively describe modern-day marginalized Filipinos that include farmers and fisherfolks forced to live in debt because they cannot earn enough to live a decent life, professionals doing menial work overseas to earn a living for their family, and poor families living in inhospitable areas in the margins of cities.

Friday, March 1, 2013

Bro. Eddie Urges Palace: Appoint Martial Law Victim To Head Claims Board

Following the signing of a law recognizing abuses committed during the Martial Law years and compensating its victims, Bro. Eddie Villanueva on Friday called on President Benigno Simeon Aquino III to appoint a Martial Law victim to head the Human Rights Victims’ Claims Board.

This, as he urged the administration to immediately finalize the membership of the Claims Board and officially convene the panel to sustain the momentum started by the passage of the Human Rights Victims Reparation and Recognition Act of 2013.Villanueva said appointing a Martial Law victim to head the nine-member Human Rights Victims’ Claims Board will ensure that the body stays true to its mandate.

“Appointing a Martial Law victim to head the Claims Board will provide an assurance to fellow Filipinos who suffered during the Marcos dictatorship that they will receive the recognition and compensation that they deserve,” said Villanueva, himself a Martial Law victim jailed twice for opposing the Marcos regime.

“A Martial Law victim has a deeper understanding of what it truly means to be a victim and how much they and their families had to suffer because of the atrocities during the Marcos regime.”

President Aquino signed the law on Feb. 25 to highlight the EDSA People Power revolution anniversary celebration.

Under the law, the nine-member Human Rights Victims’ Claims Board is responsible for drafting the law’s implementing rules and regulations (IRR) as well as evaluating and processing the applications for the compensations due to the victims.

According to Villanueva, the administration should waste no time in completing appointments to the Claims Board and target to convene the panel by March to fast-track the finalization of the law’s IRR and pave the way for the implementation of measures that will recognize and compensate those who suffered under the Marcosian regime.

“The President should appoint all the members by next month so the Board can get to work immediately. We should not waste any time to right the wrongs of the past,” said Villanueva.

“They have suffered tremendously during the Marcos regime, and they have waited long enough for the day when the government will officially recognize the abuses committed by the state during the Martial Law years and compensate those who were made to suffer various forms of abuse. We should not make them wait a minute longer.”

Villanueva also encouraged Martial Law human rights victims to band together and reach out to fellow victims and their families to ensure that majority, if not all, of those whose rights were violated during Martial Law are given the much-awaited recognition and compensation.

“Fellow Martial Law victims and our families have long fought for the government’s recognition of the abuses committed during those dark years in our history, as well as the just reparation for its victims. Let us continue this fight to see the successful end to our struggle to find justice to those wronged during the Martial Law years,” Villanueva said.