Just before I leave off for work, I would like to make this public request to SEC Chairman Fe Barin to immediately convene a meeting among stakeholders of distressed pre-need companies like Prudentialife, Permanent and others.
By stakeholders, I mean the owners or stockholders like Mr. Jose Alberto T. Alba of Prudentialife Plans, the officers and employees of these companies, the hundreds of thousands of planholders who have invested their lives' savings in buying these pre-need plans, the SEC, the media and whoever else is interested in bringing sanity to the pre-need industry.
Planholders in particular would like to see the companies where they've invested so much money get up again and resume near-normal operations. We won't have a chance to do that if the SEC will not open the forum or venue for the stakeholders to come together and discuss how they can protect their own respective interests. The owners like Mr. Alba should come up with hard facts not soothing promises.
We cannot allow a situation wherein only the SEC and the company owners know what's really going on. Public interest requires that planholders be given the same information that, at the moment, only the regulators and the owners know. The debacles at CAP, Pacific and Legacy should not be allowed to happen again! Even here, the TRINA Benchmark should apply.
If Chairman Barin and the other SEC Commissioners cannot, or will not do this, then they should all really step down from their posts as strongly suggested by Senate President Juan Ponce Enrile.
Planholders, don't lose hope! God is in control!
If you want to share your thoughts, please leave your comments or send me a message at rollyocampo@yahoo.com.
More on this when I return.
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It’s 3:25pm, March 9, 2009. I just finished watching the I’d say that this is a pivotal moment in Philippine consumerism history.
Hooray to Mr. Philip Piccio and the entire PEP Coalition. Mabuhay kayo mga bro! In spite of your own problems, you still managed to help expose more of the underhanded tricks in this entire Legacy scam. Astig talaga mga Pinoy!
Hindi po ako personal na apektado ng CAP or Pacific or Legacy but I’m nevertheless very much concerned because the underlying reason for this entire mess is unmitigated negligence by people in government like those in the SEC who did not do their job failed to protect the interest of the people who invested in these pre-need plans — the very people who are paying them their salaries as government officials. Doubly ironic!
We all need to join hands to promote truth, justice, good governance and fair treatment of consumers and the hapless parents in this country. Right now, many schools are poised to raise their tuition fees even in the face of an open appeal for a tuition fee moratorium by DepEd Secretary Jesli Lapus, a call backed up by no less than the Archbishop of Manila.
I have posted an article in my blog about this issue, The DepEd, the CHED and Tuition Fees, Part 1 - Hanggang Pakiusapan Na Lang Ba?”.
My personal belief is that if we PARENTS forge the same unity that we’ve just seen at work in the Senate a few moments ago and demonstrate it before Secretary Jesli Lapus of the DepEd and the CHED Commissioners, we will be able to stop these tuition fee increases dead on their tracks. The result will be even better if we PARENTS and the STUDENTS will act as one to reclaim our rights and defend the future of millions of young Filipinos. That PARENTS-STUDENTS synergy should happen. It’s about time!
The DepEd and the CHED have their own negligent practices which have not yet been exposed. For example, do you know that the DepEd-NCR receives the applications for tuition fee increases filed by private elementary and private schools? The office of the DepEd-NCR is located at Misamis St. near the SM City Carpark in Quezon City.
Do you also know that the education supervisors of the DepEd will tell you that “we do not approve or deny tuition fee applications; we just acknowledge them!” The result, pasok ang tuition fee increase (kahit na may mga kwestiyon sa requirements), taob ang bulsa ng mga magulang!
Ang style naman ng ibang private schools, hindi areglado ang consultation process. Walang announcement, walang financial statements na ibinibigay sa mga kausap nilang sektor, etc. Tambalan mo pa ng attitude ng maraming parents na — “wala tayong magagawa diyan, pabayaan na natin ‘yan!” — and the result is a total disaster for all of us parents and students. Kailangan na pong mabago ang mapaminsalang sistemang ganito.
The bottom line?
My point is that we PARENTS and STUDENTS, through our faith, unity and determination, can convince this government to adopt sweeping policy and procedural reforms that will better protect our rights and promote our interests. This is our moment. And I believe that it is divinely-appointed.
We should support Senator Enrile’s call for resignation of the entire SEC officialdom. This should happen so that people in government will know that, from now on, the Filipino people will hold them for their complicity or negligence. The commitment shown by Senators Roxas, Enrile and Biazon on this matter should be sustained by our continued interest and determined efforts.
I urge Mr. Philip Piccio and other leaders of the PEP Coalition to seize the moment and to take the lead in this call for unity and convene a wider meeting not only among affected pre-need groups but also among consumer advocates. It will be a privilege for me to attend such a meeting (my email address is rollyocampo@yahoo.com). I know other people are just waiting in the wings to join such a movement.
Tayong malilit, palagi na lang inilalampaso at pinaglalaruan nang mga malalaki, mayayaman at ng mga makapangyarihan even though the Constitution says that we the people are supposed to be sovereign. Ang sabi, “”sovereignty resides in the people and all government authority emanates from them.” For once, and finally, let’s prove to everyone that we really are!
Mabuhay ang Pinoy! God bless sa inyong lahat!
Hmmm, let me backtrack a little on my previous comment. In my excitement, the keyboard typed out the opening line like this:
It’s 3:25pm, March 9, 2009. I just finished watching the I’d say that this is a pivotal moment in Philippine consumerism history.
It should have read:
It’s 3:25pm, March 9, 2009. I just finished watching the Senate inquiry on the Legacy fiasco over at ANC and I’d say that this is a pivotal moment in Philippine consumerism history.
Sori, tao lang …