GMA vows to protect workers' paychecks

STA. ROSA, Laguna – President Arroyo vowed yesterday to protect ordinary workers’ paychecks from being eroded by the global economic crisis.

In her speech at the launching of the Laguna Business and Investment Expo here, she said the government is doing its best to reduce the cost of doing business in the country to spur economic activity.

“Your government is doing everything in its power to put food on the table because employees who are full do not always ask for salary increases, and to protect the paycheck from high prices and high inflation,” Mrs. Arroyo said.

She added “the relative strength and resilience of our people and our economy are still no consolation to the Filipinos who have to pay higher prices for basic commodities.”

“That is why we are working hard to keep down the price of rice, food, and fuel and to increase the number of jobs and investments that continue to generate high-paying employment opportunities.”

She said the government would buy as much as one million metric tons of palay from farmers at good prices to encourage them to plant more.

With stable rice prices, inflation has started to slow down and “with that, we expect the earning power of your workers’ and officers’ paychecks to increase.”

She said economic managers, particularly Trade Secretary Peter Favila, are working to put the price manipulators out of business.

“We will continue to make spot checks in markets to make sure that no one is taking advantage of his fellow citizens during these challenging times,” Mrs. Arroyo said.

She said the trade show demonstrated that the Philippines is “in relatively good shape” as indicated by the “vibrant private-public sector partnership, amid a global economic storm.”   – Paolo Romero