Loren wants gov't economic plans scrutinized

Senator Loren Legarda pressed yesterday for an in-depth look on the government's economic program, including its plans on how to dampen the impact of massive layoffs worldwide as predicted by the International Labor Organization (ILO).

The ILO said that 20 million jobs will be lost by the end of 2009 as a result of the global financial crisis spawned by gloomy economic developments in the United States.

While the United Nation's agency did not specify the regional breakdown of projected job losses, Legarda said it may be reasonable to believe that the Philippines stands to be hit hard because labor is its primary export.

"The government cannot shrug off the situation we are in now," warned Legarda, chair of the SenateEconomic Affairs Committee.

"Millions of our countrymen are working abroad, and they are vulnerable as economies contract, leading to job losses," Legarda said.

Earlier, Legarda said the four-month low registered in OFW remittances last month may already be reflective of the feared labor contraction worldwide.

She had asked concerned government agencies to come up with figures on how many OFWs had come home vis-a-vis those who had left the country for job postings.

"The government must put in place a support system for all Filipinos who would lose their jobs. It must double its efforts to spur the growth of small, medium and micro industries."

The ILO has also batted for the same solution to the problem saying small enterprises generate livelihood and boost trade.

"We've been saying that all along - that MSMEs is the way to go. But we Filipinos seem to pay attention more to an idea when foreigners expound on them," she said.

Legarda said the government must go back to the basics by using limited resources to boost food production, health services and educational quality.