Monday, November 06, 2006
Scrap holiday
MANDAUE City Mayor Thadeo Ouano fears that a four-day holiday for the 12th Association of Southeast Asian Nations (Asean) Summit in December will cause the “grave economic and public consequences” the Cebu Bankers’ Club has warned about.
“While I am very concerned about the security of the delegates and while I put a premium on security measures, I believe there should be a balance between security and the economy,” Ouano told Sun.Star yesterday.
He will call on President Arroyo to reconsider, especially that the rest of the country is not part of the declaration.
Those outside Cebu may have transactions here so that if establishments like banks are closed, it would be hard for them to continue doing business, he pointed out.
“What about the clearing of checks and remittances from the overseas Filipino workers? The banking industry is vital. Mao man ni ang nagpadagan sa kwarta (It’s through the industry that our money supply is circulated),” he added.
Early this year, President Arroyo declared a special no-work holiday on Dec. 11, 12, 13 and 14, when the summit will be held in the cities of Cebu, Mandaue and Lapu-Lapu.
In a meeting with Cebu exporters last month, Arroyo agreed “in principle” to exempt them from the holiday.
The industry reportedly stands to lose around P2 million daily, or a total of P8 million, if it does not get an exemption.
Some 120,000 workers, most of whom are employed by companies implementing a no-work, no-pay policy, would also lose four days’ worth of earnings.
Ouano will ask the Mandaue City Council to pass a resolution supporting the group’s stand.
He will request that the recent robbery of the Visayan Electric Company (Veco) branch in Mandaue be cited as an example of why banks should not be included in the holiday.
The mayor said that in Veco’s case, a huge amount had accumulated in the office.
And when banks are closed during the holiday, many establishments would be forced to store them in the offices, making them plum targets for robbers. Automated teller machines will also run out of cash, Ouano said.
Salaries would also be delayed, he said, because of the difficulty offices might have in clearing checks for wages.
Ouano also said that exporters, majority of whom are based in Mandaue City, will find it hard to meet Christmas production targets.
Others, who really need to have their employees report for work, would have to spend more for wage add-ons.
“This will force exporters to pay holiday premium. I would like to point out that these exporters are now experiencing problems due to the strong peso. If these companies will suffer more, they might be forced to downsize, or worse, close shop,” he said. (AAG)
For Bisaya stories from Cebu. Click here. (November 6, 2006 issue)
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