Today's Punto
Today's Punto
Editorial
Celebrating

Aug 10, 2017

“WITH THE government’s Build, Build, Build infrastructure plan in place, government is set to pour in billions in investment to position Clark as the next premier investment center of Asia. To date, exports of Clark Freeport Zone increased by $1.08 billion or 82 percent compared to the same period in 2016; while total imports increased by $1.04 billion or 79.45 percent.”

So, crowed the Bases Conversion and Development Authority in a recent press release. Take note: An increase of $1.08 billion in exports vis-à-vis an increase of S1.04 billion in imports.

If college economics still holds, the resultant net from that export-less-import equation is $0.04 billion. Measly, in the global, even regional, scheme of trade. But, miraculous in continuously depreciating peso terms.

Yeah, enough cause for the Clark stakeholders to be celebratory.

Worrying

“THE BUILD, Build, Build program will invest in high-impact legacy projects that will usher in the golden age of infrastructure in the country.”

So, the BCDA went on praise releasing.

How much – in debt – will go with the building, the BCDA is not saying.

Now, that is worrying. Moreso, when it is China that will do the lending. Given its propensity for debt-for-territory/natural-resources swap in Africa, in Bangladesh, in Venezuela.

Be worried. Be afraid.

Accomplishing

THE CLARK International Airport Corp. is set to remit to the national government total dividends amounting to P38,176,939.56 or half of the 50 percent annual net earnings of the state-run firm.

So, declared CIAC president-CEO Alexander Cauguiran.

Measly, by the standard of other government owned and -controlled corporations, CIAC’s P38 million put-back to government coffers assume astronomic proportions. Given, its negative retained earnings from 2014 to 2016 which exempted it from declaration and remittance of dividends to the national government.

Cauguiran, take a bow. So, has the President already signed your official papers as indisputable CIAC chief?





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