Coalition of Business Groups Demands Action
More than 30 prominent business organizations have united to call on President Marcos to act decisively against corruption. Their joint statement emphasizes the urgent need for institutional reforms to restore public trust. They argue that addressing corruption is vital to unlocking the nation’s economic potential. The appeal follows widespread outrage over alleged irregularities in flood control and infrastructure projects.
Massive Corruption Scandal Shakes Confidence
The scandal, described as historic and unprecedented, has shaken both government and private institutions. Billions of pesos have allegedly been lost through ghost projects, substandard construction, and inflated contracts. Business leaders claim the scandal not only damages investor sentiment but also endangers communities reliant on flood protection. They warn that continued inaction could weaken confidence in public governance.
Calls for Greater Transparency
The coalition is pushing for full transparency in auditing and procurement processes. They demand that all reports and updates be made public to ensure accountability at every stage. Regular briefings and open data access would help rebuild the public’s confidence in infrastructure programs. The private sector insists that transparency is the cornerstone of long-term economic growth.
Strengthening the Independent Commission on Infrastructure
Business leaders want the Independent Commission on Infrastructure (ICI) granted full legal independence. They believe empowering the commission is key to uncovering systemic corruption without political interference. The ICI’s mandate should include full investigative powers and authority to prosecute offenders. Leaders argue that this step will deter future misuse of public funds and promote integrity.
Government Response
Palace press officer Claire Castro confirmed that the administration is taking active steps to address these concerns. She noted that the creation of the ICI demonstrates the government’s intent to promote transparency. Several implicated officials have had their assets frozen and are under investigation. The administration remains committed to pursuing justice regardless of political affiliation.
Economic Consequences
According to the Department of Finance, fraudulent flood control projects cost the economy up to P118.5 billion. Experts estimate that the funds could have generated more than 200,000 jobs nationwide. Business groups warn that unchecked corruption will discourage both foreign investment and local entrepreneurship. They emphasize that restoring accountability is crucial to maintaining macroeconomic stability.
Reform Initiatives Underway
President Marcos has ordered a comprehensive review of infrastructure budgets under the DPWH. A public website has been launched to monitor flood control projects and encourage citizen oversight. These measures aim to empower Filipinos to report irregularities directly to authorities. The administration views transparency as essential for rebuilding credibility within the government.
Restoring Investor Confidence
The private sector insists that tangible reforms and swift prosecution are needed to rebuild investor confidence. They highlight that genuine transparency will enhance the Philippines’ competitiveness in the global market. Restoring trust between the public and private sectors will strengthen the nation’s long-term growth prospects. Business leaders remain hopeful that the administration’s ongoing reforms will translate into measurable change.
