Economic Strides

Opinions Unlimited

by Atty. Tony(APA) Acyatan (Atty. APA – chairman of Acyatan & Co., CPAs-DFK International is president of PICPA in 1990 and ASEAN Federation of CPAs (1998-2000) and Accountancy Hall-of-Famer (2006).

FAVORABLE: The Philippine peso exchange rate vs. the US Dollar has improved – way earlier than the FX remittance season towards Christmas.  The stock exchange is on a bull run – and the inflation rate is only around 3.5% – within control.  All these indicate “recovery” for our economy.  Emerging trust in the new government is the possible cause of all these strides.

New foreign investments are coming in – a genuine vote of confidence to P-Noy and his group of administrators.  Our government must find all means to sustain this economic upsurge.  The drive against graft and corruption is now finding its mark that favors expansion of investments in erstwhile graft-suffocated enterprises.  Honesty at the top will further weld unity among our people. Congratulations to the new administration.  MABUHAY!

PW CREDITS: Opinions Unlimited has standing recommendations for the elimination of ads in public works project – complete with pictures and bold names of proponents, sponsors  and approving politicians.  Government infrastructure projects are fully funded by public funds.  Any undue claim for credit with the use of billboards, etc. is technical malversation or graft.

President Benigno Aquino III hit the right button by expressing his disgust over installations of billboards and streamers (with his picture) displayed in newly-completed government projects.

The old abominable practice gives incumbent politicians the unfair advantage over prospective opponents.  No wonder, re-electionists and their family members get the edge in close contests.

DISCIPLINE: The Philippines has one of the highest highway accident rates in the world.  The proven cause is lack of discipline among our drivers – including motorcycle operators.  One key reason is the laxity in licensing processes complemented by loose observance by policemen and traffic officers of rules and regulations.  Loose enforcement of the prohibition against tandem riding and failure to strictly implement the helmet requirement are causing lots of deaths.

In the highways – especially in the early mornings are at dusk, ill-lighted motor tricycles are competing with trucks, buses and vans in speed and haste.  Their passengers are unmindful of the threat to their life and health.  Local governments – which are now the licensing authorities for tricycles must find ways to regulate the highway usage by these fragile transport units.

RETAIL TBs: Treasury bills are actually promissory notes of the national government being issued to generate funds by borrowing from the public.  Most T/Bills are issued and traded in the Money Market because their maturities are short – 90, 180 and 360 days.  The new issues will have longer terms, and to be issued in smaller amounts, to be called Retail Treasury Bonds (RTBs).  More middle level earners are expected to invest in these bonds.

P114.4 worth of RTBs were sold by the National Treasury last year.  The first RTB  float in 2001 generated P15 billion for the government.  There have been 11 RTB floats in the past, producing P500 billion total.  The 12th float will be offered starting August 10, 2010 .  Target is a maximum of P100 billion (per DF Secretary Cesar Purisima) – which may be easily sold and subscribed for considering the favorable financial environment.

PROVERBS: If you want to rule, learn to serve. If you want to lead, learn to follow. If you ant to succeed, teach others to succeed.

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