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PIA Press Release
2007/09/11

Commentary: PGMA's administrative order 194 helps exporters hurt by strengthening of Peso

Tacloban City (September 11) -- In order to help exporters adversely affected by the strengthening of the peso, President Gloria Macapagal Arroyo has issued Administrative Order No. 194 providing government funding for an export upgrading.

This is a mark of a leader who listens to her constituents. The country's exporters have been asking the government for support because of the strengthening of the peso over the past year.

Under Administrative Order No. 194, the President directed the government owned and controlled corporations that are experiencing gains from the strong peso to provide funding for technical support for an export upgrading program.

This will surely address the concerns of the small exporters as it was argued that the exports need to move into higher value lines and processes in order to better cope with the fluctuations in the exchange rate and help ensure that the export business remains viable.

The President believes that technical and credit support must be provided for the exporters who are willing to be upgraded. She has ordered that the contributions from the Government Owned and Controlled Corporations gaining from the strong peso like the National Power Corporation and the Transmission Corporation, be used to finance the export upgrading program.

Indeed, the NPC and Transco must help ensure that the businesses of electricity consumers such as the exporters continue to be viable.

The President is not leaving any gap in the measure as for the development of the program itself, the President has directed the Department of Trade and Industry, the Technology and Livelihood Resource Center and the government financial institutions to come up with ways to upgrade the quality, design and packaging of Philippine exports, particularly those priced out due to the exchange rate. (PIA 8) [top]

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