THE EXPORT Development Act must be amended to firm up funding for marketing programs and punish government agencies that impede the sector’s progress, Export Development Council (EDC) officials said.
The 11-year-old law must be strengthened as exporters need help to keep up with the increasingly competitive world market, officials of the private-public sector council last week said ahead of the 15th Congress’ opening later this month.
“There was a resolution the council drafted after our meeting in Clark [in Pampanga] to amend the Act,” EDC co-chair and private sector representative Sergio R. Ortiz-Luis, Jr. said in a telephone interview, referring to talks in February to draft a new roadmap for the sector.
“The council is preparing a draft revision of the law now,” Mr. Ortiz-Luis said in Filipino, adding that “institutionalizing” an export support fund is among the amendments the council wants.
“There are provisions there on export financing,” EDC Executive Director Senen M. Perlada confirmed in a separate telephone interview.
Under the current setup wherein funding for export promotion programs is subject to availability of government resources, “expectations are created that programs will be funded by many times they are not”, Mr. Ortiz-Luis said.
Recently, for instance, only P200 million of a promised P1-billion fund was released to the Trade department for export promotion and development programs.
The 1994 law merely hints at a “funding mechanism” using “sums as may be necessary”. Financial assistance to export organizations are on a project-to-project basis while a system is not yet in place.
“Whatever method the new administration will agree to is okay. One way is to include the fund in the budget of the Trade department,” Mr. Ortiz-Luis said.
The law must also be amended to “punish those that impede the sector”, he added.
While there is already a provision to expel officers of government institutions who “will-fully violate or are grossly negligent executing the mandates” of the law, the council wants to put more teeth into the penalties, Mr. Ortiz-Luis said.
The council, he noted, has not yet identified congressmen to work with for the effort. The 15th Congress opens its first regular session on July 26. — Jessica Anne D. Hermosa, Businessworld
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