Palace rebuts 'barely passing' mark from business leader

Malacañang on Wednesday disputed the “barely passing" grade the president of a Makati-based business group gave the administration of President Benigno Aquino III on its first year in power. “Corruption continues to be one of the biggest impediments to business growth and sustainability and economic development and prosperity, “Management Association of the Philippines (MAP) president Felino Palafox Jr. said in a news media briefing Tuesday. Palafox gave Aquino a grade of 75 percent and challenged him to take action on promises made during the presidential campaign. Presidential Communications Development and Strategic Planning Secretary Ramon Carandang responded to Palafox’s assessment by pointing to the economic growth the country posted without government resorting to imposing new taxes. Carandang said the Palace respects Palafox’s views. However, the Palace official also opined that the entire MAP membership might not subscribe to the same appraisal. Palafox also laid out 220 recommendations for the Aquino administration to consider. The MAP talking points focus on corruption, criminality and climate change. “Domestic investments are actually growing which indicates the confidence of the business community. Our fiscal management has virtually eliminated large scale corruption and we have saved billions of pesos of taxpayers money. Those are being spent on social services and defense," the former media executive and newscaster pointed out. Meanwhile, Presidential spokesman Edwin Lacierda said the Aquino administration will stay focused on its business despite MAP’s views. “Philippines is open for business and under new management and we are continuing with our efforts to ensure transparency and push further our efforts on good governance," Lacierda said. — ELR/VS, GMA News