Balisacan: COVID-19 will make more Pinoys poor

The rapid spread of the deadly coronavirus is expected to hit the poor hardest, according to veteran economist Arsenio Balisacan.

Balisacan, who heads the Philippine Competition Commission, said the coronavirus outbreak would push the poor deeper into poverty as opportunities for employment become scarce with slower economic growth.

“The coronavirus pandemic will substantially reduce economic growth this year. Worse, it will likely increase poverty. In times of sharp economic slowdown, it is the poor who are hurt the most and have the least means to buffer the strain on their basic consumption needs,” Balisacan said.

ERC to look into complaints of overcharging by power firms

Numerous complaints on increasing electricity rates have prompted the Energy Regulatory Commission (ERC) to launch an investigation on the accuracy and reasonableness of the generation rates being passed on by distribution utilities (DUs) to its consumers.