Saturday, December 22, 2007

Disturbing signs for 2008: GMA Administration--Hard headed or just plain stupid?

ZTE to be re-bidded in 2008

Government has just announced that they will be re-bidding the NBN project (dubbed ZTE deal) to local telcos in 2008. I bet my bottom Sing dollars that the one who will get it will still use ZTE technology. What the public does'nt know is that the technology being used by most local telcos came from ZTE. ZTE has been in operation in the Philippines since 2000. It is the major supplier of telecommunications equipment to most local telcos.

What this government will do is still award the contract to a local telco with strong tieup with ZTE. And the end result will still be harmful to the pockets of the Filipino People.

PR Contract worth US$ 50 Million

Senator Mar Roxas has just exposed another anomaly this administration entered into---a US$ 50 million worth of PR contract. That's roughly P 2 billion guys. A US-based lobby group has been tapped to improve the image and reputation of this government before the eyes of the Americans. And for what? To justify the illegal occupation of Malacanan by the conjugal republican monarchy? Some years ago, Filipinos militated against the Venable deal which could have cost the People 50 million pesos. Now, its at it again, spending billions for image reputation management.

Exports to grow only 6 percent

While government continually harp on the economic gains so to speak of the government, they are neglecting an important sector which is the export sector. Analysts say that the export industry will only grow by 6percent which is truly depressing considering the important role it plays in every country's national development. The BSP said that by 2008 it will relax forex controls to ease the burden of volatile forex rates to the people. That's good news for exporters whom I believe is having their worst year to date. However, government should take care of this very important sector since export industries are the key to sustained economic growth, not just sporadic growth which we are experiencing today.

40 now, 45 next year

Forex experts are predicting that the peso will slide to its comfortable level of 45 by next year. So, for those speculators out there or for some who want to earn some quick buck from their dollars, its better to buy dollars now then wait for next year to convert it. You'll earn at least 5 pesos more for every peso you spent buying those green bucks.

Filipinos still optimistic, says surveys

For all of these things, Filipinos are still optimistic that Christmas will be good for them. I don't know about that. For all I know, prices of commodities have increased substantially since last week. People are feeling this. And I don't think that government is capable enough of explaining why people are not buying enough stuff for their noche buena feasts. A year ago, 2,000 pesos is a lot. Now, it's a pittance. I really don't know what to be thankful for except perhaps that we are still alive despite the horrendous performance of this government. And I don't want to thank Arroyo for that. I am thanking God for that. Don't tell me that I owe every shred of my existence to Arroyo. Doing so would be blasphemy. And a lie.