Press Release
June 15, 2007

Angara proposes priority concerns of 14th Congress

Sen. Edgardo J. Angara proposed Thursday night that the Senate of the 14th Congress give priority to six concerns once it convenes next month.

"While the Senate agenda will have to be agreed upon in an all-Senate caucus, there are six unavoidable concerns that the Senate should address," he said at the Senate Night of the Manila Overseas Press Club at Intercontinental Hotel.

He identified these concerns as human resources reforms, fiscal reforms, financial reforms, job creation, and political and administrative reforms.

"We have to undertake reforms in these areas if we are to maintain our economic momentum and enhance political stability," he explained.

Angara said that under human resources reforms, the Senate should look into ways of making the Philippines competitive through educational emphasis on science and technology, and how to expand health insurance to cover children and the indigents.

"Lack of technological innovation is keeping the Philippines from becoming more competitive," he contended.

Angara also stressed that fiscal reforms should include the rationalization of fiscal incentives, a review of the automatic guarantee by the national government of loans secured by government-owned and controlled corporations, step up privatization effort,and a tighter rein on the revenues generated by the Philippine Amusement and Gaming Corp., the Philippine Charity Sweepstakes Office, the Ninoy Aquino International Airport Authority, and the Philippine Tourism Authority, among others.

"The National Food Authority has incurred loans of about P50 billion but NFA officials do not care on how to find ways of repaying the loan because the government has guaranteed it," he lamented.

On financial reforms, Angara said he would refile his bills that were left pending when the 13th Congress adjourned sine die. These bills pertain to the creation of a credit information bureau, the establishment of a Personal Equity Retirement Account, the Pre-Need Code, corporate recovery and mutual funds.

He said that a credit information bureau would lessen the credit risk of banks, lower the cost of lending and enable more entities to get loans. He noted that many firms have failed to expand because they could not get loans.

"The PERA will benefit millions of overseas Filipinos who are not members of the Government Service Insurance System and the Social Security System," Angara added.

He proposed the enhancement of eco-tourism and even agri-tourism to hasten job creation at the lowest cost possible.

Angara's main proposal for political reforms focuses on the strengthening of the political parties.

"It is time that we have genuine political parties. What we have are mere groupings of politicians, not political parties," he said.

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