MANILA, Philippines — President Marcos should prioritize long-term measures to tackle pressing issues, including a recurring water shortage and the looming threat of El Niño in the upcoming State of the Nation Address (SONA), Senate Minority Leader Aquilino Pimentel III said on July 10.
Pimentel emphasized the urgent need to address the water crisis and mitigate the impact of El Niño, particularly on agricultural productivity and farmers, the most vulnerable to El Niño. The agriculture sector is estimated to lose up to $3.3 billion because of the phenomenon.
“Not just Maharlika Investment Fund (MIF),” Pimentel quipped in Filipino, referring to the proposed measure to manage a pool of funds sourced from state-run financial institutions that will be invested in high-impact projects, real estate, as well as in financial instruments.
The President has certified the MIF as urgent.
“The adverse effects of water shortage and El Niño have far-reaching consequences on various sectors of the economy. Past droughts and water crises have caused a significant toll on the economy, business, agriculture, power generation, public health and natural resources, among others,” he said.
Pimentel also appealed to the public to conserve water and electricity during this critical period.
“These problems need immediate attention and concerted efforts from both the government and the public. I implore each of us to conserve water,” he said.
Citing a study by Columbia University, Pimentel said that the El Niño event of 1997-98 left 70 percent of the country experiencing devastating drought conditions.
Pimentel cited the statement by the Union Bank of the Philippines chief economist Ruben Carlo Asuncion that a strong El Niño event could lead to national GDP losses of up to $3.3 billion.
“These staggering economic implications highlight the importance of proactive and preventive measures to mitigate the impact of the water crisis and El Niño. It is crucial for the President to use the State of the Nation Address as a platform to present long-term strategies and sustainable solutions that can mitigate the effects of water shortage and El Niño,” Pimentel said.
In March 2023, the President acknowledged the gravity of the water crisis, stating that 11 million families lack access to clean water as the dry season approaches.
“The concerns about the impending water shortage and El Niño phenomenon were made earlier. What steps has the government taken?” Pimentel said.
“As I said before, the government should take an anticipatory approach and not merely be passive in addressing these challenges,” he added.
The United Nations World Meteorological Organization officially declared the emergence of El Niño conditions in the Tropical Pacific for the first time in seven years, with a 90 percent probability of it persisting until the second half of 2024.