A COALITION of leading Philippine business groups urged lawmakers to fast-track legislation creating a fully empowered and independent anti-corruption body, warning that persistent misuse of public funds is eroding investor confidence and public trust in state institutions.
In a joint statement, 20 business organizations called on the Senate to immediately pass the bill establishing an Independent People’s Commission (IPC) and pressed the House of Representatives to act on its counterpart measure creating an Independent Commission Against Infrastructure Corruption (ICAIC).
The groups also appealed to President Ferdinand R. Marcos Jr. to certify the measures as urgent, citing the need for stronger safeguards over public spending and government-led infrastructure projects.
“Our country urgently needs a far more empowered, broad-based, and truly independent anti-corruption body,” the groups said, adding that existing mechanisms lack the authority to pursue cases decisively.
Under the proposed measures, the IPC or ICAIC would be granted full investigative and prosecutorial powers, including the authority to conduct comprehensive probes into alleged corruption in government projects, file administrative and criminal cases against public officials and private sector partners, and recommend systemic legal and institutional reforms.
At present, the Independent Commission on Infrastructure (ICI) operates only in an advisory capacity, able to recommend actions but without the power to independently prosecute cases or enforce sanctions, the statement noted.
Business leaders said weak enforcement and limited accountability have contributed to a broader crisis of public trust, undermining confidence in governance at a time when the Philippines is seeking to sustain economic growth and attract long-term investment.
“A truly independent commission will guarantee transparency and accountability — no cover-ups, no political maneuvering,” the groups said, adding that stronger anti-corruption institutions would help protect public funds and reinforce the credibility of the country’s investment climate.
Signatories to the statement included the Bankers Association of the Philippines, Cebu Chamber of Commerce and Industry, Makati Business Club, Management Association of the Philippines, Financial Executives Institute of the Philippines, Federation of Philippine Industries, and several professional, women-led, and capital market organizations.
The appeal reflects growing pressure from the private sector for structural reforms aimed at strengthening governance standards and reducing corruption risks that could weigh on economic competitiveness. / KOC