I find the Administration’s initiative announced by Sec. Neri at the Philippine Business Conference yesterday hugely interesting.
The government, Neri said, should now focus on putting in place policy changes in the microeconomic front, particularly on deregulating key agencies that affect the cost and efficiency of doing business in the country.
He said the Civil Aeronautics Board, the Philippine Ports Authority, Maritime Industry Authority, National Telecommunications Commission and the Energy Regulatory Commission were some government agencies that needed policy reforms.
“We are doing well in the macro-finance side, now a lot has to be done on the micro side… however, very powerful vested interests are involved and will resist these reforms,” Neri said.
I’m stumped – but I have a sneaking idea this is chock full of euphemisms.
Deregulating the regulators? Does that mean making them independent of the Administration? or of something else? or what does it mean?
It’s impact on ERC governance could be huge. I’ll be keeping my eyes peeled.