Nearly 900,000 jobs were created in the first nine months of the year due to intensified efforts of government to support small businesses in the country, Malacañang said yesterday.
Presidential Management Staff chief Secretary Cerge Remonde said efforts to provide financial support to micro-enterprises, or micro-finance for short, presently cover all 82 provinces of the country as well as all its 131 cities.
Citing a report by People’s Credit and Finance Corp. (PCFC) president Edgardo Generoso before the Inter-Agency Coordinating Council for Micro, Small and Medium Enterprises last week at the Palace, Remonde said only 43 towns in the country remain to be reached by the government’s micro-finance programs.
“A total of 859,569 jobs were created from these micro-finance efforts over the nine-month period beginning January 2008, surpassing last year’s accomplishment over the same period by 289,449 jobs,” he said.
“The amount of loans extended, meanwhile, more than doubled from January to September 2008 as compared to last year, from P25.945 billion in 2007 to P53.634 billion this year,” he added.
Remonde said the Land Bank of the Philippines (LBP) should “be commended for leading government instrumentalities in the micro-finance component of the Arroyo administration’s job generation effort.”
By Paolo RomeroSource:
http://beta2.philstar.com/Article.aspx?ArticleId=416080&publicationSubCategoryId=63
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Creating 900,000 jobs and doubling the amount of loans extended on the first 3 quarters of this year compared to last year is a major milestone of the Arroyo administration’s job generation program. This will surely have positive impact on creating public values specifically in the low sector of our society and alleviate the impact on high basic commodities prices. It is one of the few government programs where result is highly commendable. It comes in a time when we need effective programs to save the day for our country now that there is a global economic crisis. Given the proper implementation, this will help avert the poverty problem of the country specifically in the rural areas.
As in any government programs, an inefficient and corrupt bureaucracy hinders policy execution and program implementation. Consequently, it restricts government’s performance, erodes confidence and undermines the primary objective of the program. No matter how well intentioned the program may be, the absence of transparency, accountability and effective sustainable programs cannot win over people’s confidence and delivering the expected results. Program implementation must include proper selection of the beneficiaries of the loans and monitoring the projects where the funds are used. Measuring the expected outcome to ultimately create public value to satisfy needs of the citizens must be in order.
8 comments:
I agree with adding jobs and employment for the country since we are ove populated and it is good to be able to provide a labor force to improve our country. GMA is trying to give jobs but it depends on the people if they would really want to work hard.
it already applied in the Philippine. i think this is very good processing, and also it can allot benefitial effects to poverty people. i had a lecture about microfinance from class. i thought this theory can be great deal in poverty area. i strogly agree with this processing because we still have many povery people with suffering. The Goverment should be share microfinance to poverty people with more efficient ways.
The rise of the availability of jobs is great news for our country. With such high unemployment rate, we need all the openings we can get. On one hand, this benefits those who can easily get jobs. On the other, majority of those who do not have jobs are those who are uneducated or those who didn't finish their education. The government can help provide us with jobs as long as we ask them to, but first, we need to do our parts and be willing to work hard and get ourselves proper education. After all, our country cannot prosper if those working do not know what they're doing in the first place.
This is a wonderful project by the government for it will provide people opportunities to start a good life by having decent jobs that will support their families and this is a perfect solution to lessen the unemployed population in the country.
This would decrease unemployment. The country's GDP would be more stable since if unemployment increases then our country would possibly experience recession.
This would decrease unemployment. Our economy would be more stable. Our Growth domestic Product and Growth National Product would increase.
i think that having jobs can really improve the economy. i think that these would force people to get educated to be able to fill in those jobs. in my opinion, on reason why people don't see the importance of education is they know there won't be a job waiting for them after, so now this news gives them hope that they can look forward to something, that there is a place for them in the world. plus the added fact that the Philippines would have a better economic standing and a lesser rate of poverty. :)
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