Loren slams gov't late response to layoffs, financial crisis

Sen. Loren Legarda yesterday criticized the government's late response to the economic crisis, especially in averting the massive layoffs of workers.

"But it's better late than never," Loren said, in commenting on the multi-sectoral summit convened by the Department of Labor Employment to discuss safety nets and other economic stimulus measures to offset the impact of the global financial meltdown.

Loren said that the government should have acted much earlier when it became obvious that the global recession was going to impact the Philippines.

"Instead of going into a denial binge about the Philippines being exempted from the economic tsunami because of its so-called 'sound economic fundamentals', the administration should have acted swiftly and decisively to minimize the damage," Loren declared.

"Instead," she lamented, "the administration talked as if the Philippines would be exempted from the financial meltdown, even though there were already warning signs that the Philippines was extremely vulnerable to the global crisis, especially as its exports were declining."

Ever since, thousands of Filipino workers and employees, especially those working in foreign-owned firms, have been dismissed, while hundreds of Overseas Filipino Workers returned home to boost the number of unemployed Filipinos at home, she lamented.

The chairman of the Senate committee on agriculture, Loren urged the participants to the summit to explore ways of creating more jobs in the agricultural sector, while at the same time encouraging the growth of small and medium industries that would provide more local employment and produce more commodities for both the domestic and foreign markets. Loren also urged the business sector "to exhibit patriotism by thinking less of profits but more of the common interest by keeping and employing more workers, and for the workers to improve their productivity to expand business interests. Both labor and management should work together for the national interests."

The summit came on the heels of the reported loss of jobs for some 3000 in Central Luzon, and more than 5000 more having cut hours in the last three months.

A total of 3,368 workers in central Luzon lost their jobs while 5,065 others have been experiencing shortened working hours from December 2008 to Feb. 6 as 39 export-oriented firms in the region struggled to cope with the global financial crisis.

"The massive lay-offs and retrenchment engendered by the prevailing global economic turmoil should make our economic leaders realize that this country is vulnerable after all, and that they should have been quick in making plans to cushion the impact of the crisis," she explained.

Loren, meanwhile, urged the government to prioritize agriculture by helping our farmers in their needs.

She said the government must not only institute reforms in the agriculture, but must make agriculture its top priority, especially during hard times.