House leaders: RP on way to recovery

Lawmakers assured the people yesterday the country is on the way to recovery this year with the necessary economic and reform measures set in place by the Arroyo administration.

Marikina City Rep. Del de Guzman and Manila Rep. Ernesto Nieva said the country can consider 2005 a better year even as the past year was spent dealing with problems brought about by the fiscal crisis and the massive devastation caused by recent calamities.

De Guzman said the implementation of revenue-generating measures passed by Congress, particularly the Alcohol, Cigarette and Tobacco Tax (ACT) Law this year, will mean P15 billion in new revenues for the government.

"We expect the other economic measures to be enacted into law and implemented this year pursuant to our objective to raise P80 billion in new revenues to ease the deficit problem and ensure funding of socio-economic projects," De Guzman said.

The Marikina lawmaker said the enactment of the 2005 national budget is also expected, unlike in the past year when the 2003 budget was merely re-enacted.

De Guzman said it was to the credit of the 13th Congress that institutional reforms like the 38 percent cut in the pork barrel allocation of lawmakers and the adoption of the line-item budgeting system which was introduced to ensure full transparency in the budget to be supplemented by the E-Procurement Act.

"These reforms will definitely renew investors’ confidence in the country and counter unfair criticism on issues like corruption. The solidarity we have shown during the fiscal crisis should continue and must be complemented by our sense of optimism," De Guzman said.

Nieva, for his part, said there are good signs of heightened business activity in 2005 as the number of investments approved by the Philippine Export Processing Zone Authority has jumped by 63 percent.

"We expect more economic activity, which can generate more jobs for the people," Nieva said.

Nieva said the people can also expect oil price cuts this year, pointing out the fall of the benchmark Dubai crude along with the prices of refined petroleum products based on the Mean of Platts Singapore benchmark.

Local oil firms reduced gasoline prices by 30 to 35 centavos just before Christmas.

"No less that the Department of Energy said there was a big possibility that local pump prices would go down again. Our consumers can heave a sign of relief after bearing the brunt of oil price hikes in 2004," Nieva said.

The veteran Manila lawmaker said the people are also assured of the continued campaign against graft and corruption through expanded lifestyle checks and the prosecution of grafters in public service, including those in the police and military.

Nieva said the executive department, while pursuing a common economic reform agenda, will also step up its anti-corruption measures, curb wasteful spending and raise investor confidence in the country.

Hesaid the country’s public works engineers should maximize the budget allotted to them and complete more projects with less expense to avoid funds wastage.

On peace and order, Nieva said the people should remain hopeful about a possible peace settlement with armed insurgents and the Moro Islamic Liberation Front (MILF) through the resumption of peace negotiations with them.

"With all the problems facing our nation, it’s time we unite and work together to solve our problems." he said.