Business sector backs Arroyo administration

Cebu industry groups have agreed to unite as one force to protect the Arroyo administration from breakdown brought about by the "opposition's" bid to impeach the President.

Six industry organizations in Cebu have signed a resolution to call for a sobriety for economic stability.

The business groups expressed their apprehensions that the struggling but improving Philippine economy would once again be paralyzed because of this "unwanted" political destabilization.

These organizations include; Cebu Furniture Industries Foundation (CFIF), Philippine Exporters Confederation-Cebu (Philexport), Seaweed Industry Association of the Philippines (SIAP), Mandaue Chamber of Commerce and Industry (MCCI), Cebu Chamber of Commerce and Industry (CCCI), Philippine Chamber of Commerce and Industry- Regional Visayas chapter.

Signed by the officers of these organizations, the resolution urged the Arroyo government to continue the economic programs for the interest of the Filipino people.

The business leaders of Cebu are calling on the political leaders and the public to act in sobriety and vigilance in consideration of the national interest of the country, the resolution stated.

"After years of roller-coaster performance, the Philippine economy has gradually shown significant improvements. Favorable international credit rating and reserve position, stable peso-dollar exchange rate and the low interest rates earned the respect of international financial institutions, thus improving business confidence. As a matter of fact the stock exchange showed resistance during the early days of the political upheaval initiated by the disgruntled elements of our society," the resolution emphasized.

However, the continued attack on the Presidency is slowly eroding the political stability of the nation. Once more, the country's economy is under threat, the gains so far achieved might be derailed, it added.

Supporting clearly the Arroyo administration, the business leaders in Cebu are pleading political leaders to help the development in the country, but not to breakdown the slowly improving-"Philippines."

"We are confident that transparency and the rule of law in administering sanctions and legal proceedings against individuals who have violated the ideals of the Constitution will be held accountable for illegal activities regardless of stature in the society and government," the resolution said.

CFIF president Jay Y. Yuvallos, Philexport-Cebu president Agustin Palao, SIAP president Benson U. Dakay, MCCI president Eric Ng Mendoza, CCCI president Robert Go, Regional Governor-Visayas for PCCI Jose T. Ng, and PCCI vice president for Visayas Carlos G. Go signed the joint resolution.