Zambo businesses lost P76 M daily during siege

MANILA, Philippines - Business establishments in Zamboanga City lost at least 76 million daily during the three-week clash between the military and the members of the Moro National Liberation Front (MNLF), the Department of Trade and Industry (DTI) said yesterday.

Apart from the estimated losses, DTI Zamboanga Peninsula regional director Nazrullah Manzur said in a statement, that the three-week clash resulted in missed investment opportunities for the city.

Manzur said the city had to forego sales from the regional trade fair Zamboanga Peninsula Trade Exposition (ZAMPEX) 2013, which was set this month but had to be postponed due to the siege.

“This is to give way for more urgent activities in support of the local and national governments’ efforts for the early recovery and rehabilitation of Zamboanga City,” Manzur said adding the city has unrealized revenues from tourism considering that Zamboanga’s grandest festival, the Fiesta Pilar is approaching.

“In the midst of all that’s happened to our city, we are pleased to note that most businesses did not take jack up prices or to hoard commodities and our appeal for sobriety had been heeded,” he said.

The regional office has been conducting daily monitoring to ensure sufficient supply of goods and stable prices.