Escudero echoes calls for Arroyo to make stand on Cha-cha

MANILA, Philippines - Senator Francis Escudero on Tuesday echoed calls for President Gloria Macapagal Arroyo to issue a categorical statement on Charter change amid efforts by her allies at the Lower House to push for various modes of amending the Constitution.
In a press statement, Escudero said without a categorical position on Cha-cha, President Arroyo has fed on her allies' efforts to push Charter Change at the Lower House, much to the detriment of the Filipinos.
"She (Mrs Arroyo) should stop engaging in double speak and categorically state her position on Charter change as her allies continue to push for it," said Escudero, chairman of the Senate committee on constitutional amendments, revision of codes and laws.
While admitting that Charter change is an important political exercise to ensure progress, Escudero said any contemplated change in the Constitution should be accorded with the adequate time and resources.
"If there is indeed a need to change the Constitution, it should be done after the elections in 2010 where the search for the rightful and meaningful changes in the constitution continues as a deliberative and transparent process," the senator said.
Escudero noted that the Charter change issue is distracting the President, the government and the people from more important issues at hand like the looming economic crisis next year.
"We are facing a more pressing problem next year. The chief executive should take the rein on this rough ride with more attention and swift action because the economic plague that has swept even first world countries cannot be understated," Escudero said.
Escudero said Mrs Arroyo should keep her eyes on the ball and focus on addressing more important issues like job creation and security, living wages and affordable commodity prices.
He said among the steps the President can do is to "invest in the Philippines" and stop exporting financial resources to places of corporate greed and toxic mortgages and financial meltdowns.
Escudero said funds managed by government pension groups like GSIS and SSS and government financial institutions like the Development Bank of the Philippines' pump priming activities could fill the gap in foreign direct investments which plunged by more that half to $1.08 billion from $2.49 billion a year ago.
The GSIS has $1 billion in its global investment program scattered throughout the world including some placed in iconic Wall Street firms which have crashed.
DBP on the other hand, which trades on derivatives, had reported parking $90 million in the failed US giant investment bank Lehman Brothers and in a recent disclosure is poised to write off.
"Foremost in the mind of every Filipinos nowadays are food to put on the table, shelter for the family and a job to secure these basic necessities which the government ought to be providing opportunities for. The president should rise up to the occasion and push away any personal agenda," Escudero said. - Amita Legaspi, GMANews.TV
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