Exploring the Rising Tide of Economic Discontent: A Thought-Provoking Inquirer Opinion

Senate President Juan Miguel Zubiri has provided valuable advice to President Marcos regarding the need to revamp his official family and replace underperforming Cabinet secretaries. Recent surveys conducted by Pulse Asia indicate that both Mr. Marcos and Vice President Sara Duterte have experienced significant declines in their approval and trust ratings. This is the first time since the new administration began in June last year that the top two leaders have received such low ratings in double digits. Even the ratings for the heads of Congress and the judiciary have declined.

According to Pulse Asia President Ronald Holmes, the decline in approval ratings can be attributed to the continuing increase in prices of basic commodities and services, coupled with the unfulfilled promise of reducing these prices. Despite interventions such as food import tariff cuts, Mr. Marcos, who also serves as the agriculture secretary, has been unable to control inflation, with the rate of price increases still surpassing the government’s target range of 2-4 percent. The recent imposition of price ceilings for rice has not been effective in reducing prices either. The Philippine Statistics Authority reported that inflation rose to 6.1 percent in September, marking the 18th consecutive month that it has exceeded the government target.

These high prices are causing great discontent among Filipinos, with the majority expressing concerns about inflation. It’s not just rice that is expensive, but also other essential goods and services. For example, expensive oil imports lead to increased transportation costs, higher electricity rates, and eventually elevated retail prices. Smugglers and hoarders further inflate rice prices, despite the country having sufficient supply. President Marcos acknowledged that people are suffering due to high rice prices.

To address this issue, the President emphasized the need for a genuine campaign against smugglers, hoarders, and profiteers. In an effort to combat these illegal activities, charges have been filed against rice importers involved in smuggling. However, it’s also important to determine whether any government officials have facilitated these activities. It’s difficult to imagine smugglers and hoarders operating without assistance from individuals responsible for stopping them. Therefore, President Marcos should heed Zubiri’s advice and examine the agencies responsible for monitoring market distortions and taking appropriate action against them.

In addition, the President must appoint a permanent agriculture secretary to oversee the sector, implement necessary reforms, and enhance food production and overall productivity in farming and fishing. Mr. Marcos has various responsibilities as head of state and may not have enough time to focus specifically on the agriculture sector.

Furthermore, the President can consider creating an anti-corruption czar or a separate office dedicated to combating corruption within the government. Smuggling and other illicit activities that distort the market require the participation of unscrupulous officials. Utilizing the intelligence funds of agencies that don’t require them could be an effective way to address this issue.

Time is of the essence as the President must promptly address the rising discontent among the people regarding consumer prices. He should also assess the performance of his secretaries involved in maintaining a properly functioning economy free from distortions caused by smugglers, hoarders, and profiteers. The sentiments expressed in the Pulse Asia survey, such as the need for inflation control, increasing workers’ pay, job creation, poverty reduction, and fighting corruption, should guide the President’s focus.

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