Gabriela to Duterte: Pursue Nationalist industrialization, free PH from economic sabotage to counter US efforts to rig peso

Wed, 09/28/2016 - 14:14 -- gwp_prop

28 September 2016 - Promote and build local businesses, cut market dependence on globalization.

This was the call issued by the Gabriela Women's Party after President Rodrigo Duterte took United States to account for the plunge of the peso conversion rate to the US dollar and other currencies.

"Matagal nang naging alipin ng imperyalistang globalisasyon ang ating ekonomiya. Kaya para maputol na ang kapit ng halimaw na humuhuthot ng yaman ng ating bansa, panahon na para itulak na ang programa ng pambansang industriyalisasyon at tunay na repormang agraryo. Tanging sa lakas ng sariling ekonomiya natin ay makakalaya tayo sa kontra-produktibong pagkakatali ng piso sa foreign exchange at iba pang speculative investments," Gabriela Rep. Emmi De Jesus said at the sidelines of the congressional hearings for the 2017 national budget.

De Jesus lamented that the proposed budget has yet to show financial support for Duterte's campaign promises to reorient basic industries such as railroads and power generation. She advised the president to rally his allies in Congress behind a patriotic economic program, first by removing the legacies of pork barrel and private-public partnerships left by past regime President Benigno Aquino, and use the money instead on support for Filipino enterprises and social services.

The Gabriela solon reiterated that permanent jobs generated by industrialization and farm modernization also has the effect of ending the export of OFWs, unemployment and poverty, the root causes of the country's growing drug addiction and trafficking menace. On the diplomatic front, Duterte can begin reviewing the unfair commitments signed by previous presidents to free trade agreements such as the General Agreements on Tarriffs and Trade and decline membership in the TransPacific Partnership.

De Jesus said women in urban poor communities appreciate Duterte's pursuit of the peace negotiations with the National Democratic Front to hammer out the Comprehensive Agreement on Socio-Economic Reforms (CASER).

"Duterte is on the right track in fast-tracking the negotiations for the CASER, and this is the right time to carry out the agreement's call for nationalizing oil, energy, mineral exploration and other basic industries. The agreement can enable the Philippines to free itself from US efforts to manipulate the peso in pursuit of its regime destabilization moves.