Vision
PCCI is the voice of Philippine business recognized by government and international institutions. As a proactive catalyst of development, PCCI promotes and supports the drive for globally competitive Philippine enterprises in partnership with government, local chambers, and other business organizations.
Mission
The main responsibility of PCCI is to provide focused advocacy for business growth and sustainable development by providing business services for the advancement of grassroots entrepreneurship, chamber development, international trade relations, business innovation and excellence, and operating efficiency. These will be achieved through a professional organization working in close cooperation with various stakeholders in public and private sectors.
BSP assures businesses it is doing its job to mitigate inflation, peso weakening
(From Left): DG Mamerto E. Tangonan of BSP, Alfredo Yao, Director of PCCI Banking and Finance Committee; George Barcelon, PCCI President; Governor Felipe Medalla of BSP, Atty. Benedicta Du-Baladad, Director of Legislative and Taxation; Mr. Bernardo Benedicto II, PCCI Assistant Treasurer; and Mr. Cecelio San Pedro, Chairman of PCCI Banking and Finance Committee
The government is doing its best to mitigate the impact of inflation and the depreciation of peso on businesses and the public in general. The assurance was made by Bangko Sentral ng Pilipinas Governor Felipe Medalla in a courtesy meeting held recently by the Philippine Chamber of Commerce and Industry (PCCI) led by its President George T. Barcelon.
Medalla attributed this economic instability to certain forces such as the ongoing conflict between Russia and Ukraine and the ballooning trade deficit. He, however, explained that the Philippine peso is not the only currency that is losing its value over the US dollar, even the other economies are experiencing the same depreciation of currencies over the dollar.
Medalla said that the government has strong economic fundamentals and is doing its best to control the crisis the country is now facing. He also said that the BSP will be more active in the foreign exchange market to smoothen the volatility of the peso against the dollar. The Central Bank is in the spot market borrowing and selling dollars and will not allow excessive changes in the exchange rate because changes in the said rate are either due to a strong dollar.
Meanwhile, Barcelon expressed PCCI’s support to BSP and discussed possible partnerships in areas of digitalization and access to financing that can assist the MSMEs in recovering economically from the pandemic and other global challenges affecting the Philippine economy. --- Joanna Paula Pascual