23-05-2025
Makati Business Club, PCCI laud retention of economic team
Two of the country's most influential business groups, Makati Business Club (MBC) and Philippine Chamber of Commerce and Industry (PCCI), have welcomed President Ferdinand Marcos Jr.'s decision to retain the composition of his administration's economic team.
At a press conference, Executive Secretary Lucas Bersamin announced that the President, 'after careful evaluation,' decided to retain Trade Secretary Cristina Roque, Finance Secretary Ralph Recto, Economy Planning and Development Secretary Arsenio Balisacan, Budget Secretary Amenah Pangandaman, and Special Assistant to the President for Investment and Economic Affairs Frederick Go.
The announcement came a day after Marcos' call for his Cabinet secretaries to submit their courtesy resignations as the results of Eleksyon 2025 showed that the people are "tired of politics and they are disappointed with the government.'
Members of the President's economic team have immediately complied with his call.
'The Makati Business Club is relieved and satisfied that the Cabinet Secretaries in the Economic Cluster have been retained. This strengthens the continuity and stability of economic policies and initiatives,' MBC executive director Rafael 'Apa' Ongpin said in a statement.
'The private sector has had productive and encouraging engagements with the departments in the Economic Cluster that have demonstrated the open and collaborative character of this administration. We are glad that these relationships will continue,' Ongpin said.
The MBC earlier backed the retention of the economic team, describing them as 'the best people for the job' and 'are well qualified for the position.'
PCCI, for its part, said, 'We welcome the retention of the members of the economic team of President Bongbong Marcos.'
'They have been instrumental in the continued growth of the economy despite global economic whirlwinds. Their retention signals commitment to the continuity of reforms and stability in governance, and boosts confidence in the administration,' the business group said.
PCCI also backed the Cabinet overhaul as it called for 'accountable and merit-based appointments' as well as the retention of 'those who delivered and performed.'
Meanwhile, PCCI expressed support for Energy Secretary Raphael Lotilla, who will be transferred to head the Department of Environment and Natural Resources (DENR).
'With respect to Secretary Popo Lotilla, he has proven his competence and integrity as head of the Department of Energy (DOE). His stint at the DOE was characterized by his commitment to accelerate the transition to clean energy while still ensuring security and affordability of electric power - the two critical components to industrial growth and economic development,' the group said.
'We are optimistic he will bring the same balanced perspective and pragmatic approach that considers both environmental and industrial perspectives, at the Department of Environment and Natural Resources (DENR),' it added.
Bersamin said that the DOE will be temporarily headed by Undersecretary Sharon Garin as officer-in-charge. —LDF, GMA Integrated News
