Marcos admin urged to discontinue ‘costly’ importation amid further weakening of peso

A fisherfolk group urged President Ferdinand “Bongbong” Marcos Jr. to discontinue the country’s importation policies amid the further devaluation of Philippine peso.


Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) called on the Marcos administration to put an end to importation, especially on agricultural products and consumer goods, amid the weakening of peso.

“The Marcos administration must abandon the import-liberalization policies as these make us more vulnerable to currency devaluations,” said Pamalakaya National Chairperson Fernando Hicap on Friday, Sept. 30, highlighting the devaluation of peso may eventually cause devastating effects to the Philippine economy.

Making PH 'self-reliant'

Instead of pushing for the country’s “over-dependence” on imports, Hicap called on the national government to strengthen the local agricultural production by providing assistance to Filipino farmers and fishers.

“upport the livelihood of small fishers and farmers to make the country food self-reliant. This drastic shift in economic policies only takes the administration’s political will to strengthen our local economy and productive forces,” Hicap added.

Earlier, the group also called on the administration to provide immediate assistance to cyclone-hit fishers to help them recover from their losses following the massive disruption brought by Karding, the 12th tropical cyclone to enter and develop in the Philippine boundary.