Several important details were left out of this article. First, the centralized government of the Philippines does make it hard on importers working and employing folks on a majority of the 7000 Philippine islands. The government creates this hardship by demanding that most every import comes through Manila ports. Therefore, the incentive to steer around legalities is high on almost every other island. (By the way, the Philippines, with more islands than neighboring Indonesia, should be a federal state and open up its direct trade to all regions.)
Second, in the same newspaper, there was an article entitled, "Gov't to auction rights to import 150,000 tons sugar."
The increase in the regulated import of a basic good, like sugar, would appear to be a likely scam, similar to the one noted above--as the Philippines has not yet even had its sugar harvest, which should occur no later than September or October. The predicted need for sugar is based on the El Nino effect this time. Yet shipments from Brazil or elsewhere will take at the very least 45 days--if not much longer.
What will be the next excuse for creating loopholes for import expansions?
INSURANCE COMMISSION'S JOB
Another vignette under the "Business Circuit" section in the newspaper THE MALAYA BUSINESS INSIGHT last week was on the failure of the nations Insurance Commission to even try and have warehouses cover their bonds.
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