Friday, July 4, 2014

Manila truck ban to derail PHL economy

The citywide truck ban in Manila could derail the Philippine economy from achieving continued growth that MalacaƱang should step in and stop city from implementing the policy, according to an economist.

A major risk to the economic growth story is the truck ban in Manila, "an unwarranted exercise of power," University of Asia and the Pacific economist Vic Abola said during First Metro Investment Corp.'s mid-year briefing in Makati City.

"They should revoke the ban, because it's just creating traffic in other places and it's not delivering the goods," he said.

"The President needs to take action. Yes there's a problem, but the problem cannot be solved by one person," he added.

Last February, the local government banned cargo trucks from Manila's main thoroughfares from 5 a.m. to 9 p.m., a move that created a backlog in deliveries to, through and from the Port of Manila.

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