We should all worry that the NEDA Director General and the DBM Secretary (as earlier announced) are not worried about the weak peso.
For one, our offshore debt stands at US$73.1 billion. In July 2016, or exactly two years ago, the peso-US dollar rate was PhP47.30 per US$1. Now, it has shrunk to an all-time low at PhP53.40 per US$1.
We don’t need to be rocket scientists to realize that right off, we have to pay an extra PhP445.9 billion with the PhP6.1 difference.
Add to that the fact that the manufacturing sector imports a great portion of their raw materials.
Pray tell me if we shouldn’t be concerned.
Actually, we can, but only if my family will eat only once a day, won’t brush our teeth nor take a bath, walk every day to and from our place of work but avoid perspiring so we won’t wash our clothes.
And yes, ask my wife to stop watching her favorite telenovela because I will sell the TV set. Ask my children to throw away their mobile phones so they won’t ask me for ‘pasa loads.’
Actually, we can survive with P10 a month as long as we all stop breathing.
Sen. Lacson, whose resolution for a review of RA 10121 (Philippine Disaster Risk Reduction and Management Act of 2010) was one of the grounds of the hearing, stressed the need for a separate agency to focus on dealing with disasters.
“This is an opportune time (to review the Philippine Disaster Risk Reduction and Management Act, because) the Philippines is third most risky in terms of disasters. It’s been eight years (since the law was passed). We have not reviewed (the law) as mandated under Republic Act 10121.”
“Even before I left the OPARR, ito ang naiwanan kong recommendation kay then President Aquino noon: It’s about time we created a separate agency even under the Office of the President para talagang may lead agency. Ngayon medyo sabog eh. Mahirap ang council-type na coordinative, tapos naka-integrate lang, puro monitoring ang mangyayari. There must be a separate lead agency who will take care and assume responsibility.”
Senate Resolution 10: Philippine Disaster Risk Reduction and Management Act
Lacson pushes review of disaster management law to cope with ‘new normal’
Ping: i-upgrade na ang batas vs kalamidad
The Senate approved Sen. Lacson’s proposed realignments stemming from unresolved right-of-way funds in the 2018 budget. These are some of the programs that may be funded by the realignments.