FDC In The News: FDC on JFC’s blackmail politics

The press release we issued last 03 June 2008, entitled ” FDC hits foreign chambers’ ‘business as usual’ framework of capitalism without risk,” in response to the letter of the Joint Foreign Chambers of the Philippines (JFC) urging Mrs. Gloria Macapagal-Arroyo not to amend the EPIRA and renegotiate onerous contracts with independent power producers, came out in two separate stories in GMANews.TV

GMANews.TV
http://www.gmanews.tv/story/98929/Foreign-business-groups-criticized-for-shameless-use-of-blackmail-politics#

Foreign business groups criticized for “shameless use of blackmail politics”
Article posted June 03, 2008 – 05:27 PM

MANILA, Philippines – A multi-sectoral group denounced the Philippines’ foreign business chambers’ opposition to amend the Electric Power Industry Reform Act (EPIRA) and renegotiate onerous contracts with independent power producers (IPPs) to bring down electricity rates.

In a strongly worded statement, the Freedom from Debt Coalition criticized the Joint Foreign Chambers of the Philippines (JFC) business framework of “capitalism without risk” and its “shameless use of blackmail politics” to protect their corporate interests in the country.

“Since foreign chambers of commerce are here to promote and protect their respective national/global interests, it is expected of them to defend their IPPs and their windfall of profits. The problem is: who’s going to protect ours?” the group asked in a statement.

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GMANews.TV
http://www.gmanews.tv/story/98891/Miriam-invites-foreign-traders-to-Senate-energy-hearing#

Miriam invites foreign traders to Senate energy hearing
Article posted June 03, 2008 – 03:55 PM

MANILA, Philippines – Foreign traders opposed to the amendments in the Electric Power Industry Reform Act (Epira) have been invited Tuesday to the energy committee hearing in the Senate scheduled this Friday.

Senator Miriam Defensor Santiago, the committee chairman, said she wants to know from the Joint Foreign Chambers of the Philippines (JFC) what amendments it does not want since Congress is changing only certain provisions.

“The only problem with the independent power producers is that they have a take-or-pay provision which is very onerous to the Filipino taxpayer. The foreigners can source their electricity from IPPs with take-or-pay provisions but it should not be a standard clause in our contracts of the government and the IPPs,” she said in a statement.

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