The Trade Union Congress of the Philippines (TUCP) has joined the new Buy Pinoy campaign that seeks to encourage Filipinos to favor the consumption of locally produced goods and services, over those imported or smuggled into the country, in order to stimulate the domestic economy and create new jobs.
The Buy Pinoy drive would not only help save jobs threatened by the lingering global economic slump, but also build the foundation for more stable employment generation based on a more self-reliant national economy driven by robust domestic consumption.
We have to develop a solid economy propelled by potent domestic consumption in order to cushion us from the boom and bust cycles of our export markets. Strong consumption of locally produced goods and services provide more Filipinos with jobs. Jobs provide people with incomes that enable them to buy even more goods and services or to save. The increase in consumption stimulates the domestic market, revives the economy and provides revenue for government. And the accumulation of savings provides funds for investment.
The Federation of Philippine Industries (FPI) and the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) are set to launch on June 10 the Buy Pinoy Campaign.
The collapse of the country’s export markets has forced many large firms to lay off workers. In the semiconductor and electronics sector alone, more than 100,000 workers have already been thrown out of their jobs since the last quarter of 2008.
The latest company to declare a labor reduction was Moog Controls Corp. based at the Baguio Export Processing Zone. For the first time since it established its Philippine operations in 1984, Moog Controls said last week that it would lay off almost 300 workers.
The company is a subsidiary of East Aurora, New York-based Moog Inc., a New York Stock Exchange-listed worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, marine applications, and medical equipment.
Also last week, Coca-Cola Bottlers Philippines Inc. said it would dismiss more than 600 workers at its plants in Luzon.
Times are hard and we need to help our country in every way we can. Buying Filipino products and services would help a lot. So buy Pinoy. –Manila Times
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