Privatization in the Philippines

The Marcos years saw the public/government utilities and corporations taken over by crony capitalists
in many important economic activities, from the traditional sectors of public utility, financing and
agricultural development to regulation, credit, and manufacturing industry to other services.

As the Asian Labor Network Report stated: “These Government-Owned and Controlled Corporations
(GOCCs) have become important instruments of the state in consolidating its political and economic
powers. When the government declared its inability to pay its $28B foreign debt (80% of which by
GOCCs) in 1983, the World Bank and the International Monetary Fund loans specified privatization and
limiting participation of public enterprises in the economy” is recommended.

The Marcos years saw the public/government utilities and corporations taken over by crony capitalists
in many important economic activities, from the traditional sectors of public utility, financing and
agricultural development to regulation, credit, and manufacturing industry to other services.

As the Asian Labor Network Report stated: “These Government-Owned and Controlled Corporations
(GOCCs) have become important instruments of the state in consolidating its political and economic
powers. When the government declared its inability to pay its $28B foreign debt (80% of which by
GOCCs) in 1983, the World Bank and the International Monetary Fund loans specified privatization and
limiting participation of public enterprises in the economy” is recommended.

The Marcos years saw the public/government utilities and corporations taken over by crony capitalists
in many important economic activities, from the traditional sectors of public utility, financing and
agricultural development to regulation, credit, and manufacturing industry to other services.

As the Asian Labor Network Report stated: “These Government-Owned and Controlled Corporations
(GOCCs) have become important instruments of the state in consolidating its political and economic
powers. When the government declared its inability to pay its $28B foreign debt (80% of which by
GOCCs) in 1983, the World Bank and the International Monetary Fund loans specified privatization and
limiting participation of public enterprises in the economy” is recommended.

The Marcos years saw the public/government utilities and corporations taken over by crony capitalists
in many important economic activities, from the traditional sectors of public utility, financing and
agricultural development to regulation, credit, and manufacturing industry to other services.

As the Asian Labor Network Report stated: “These Government-Owned and Controlled Corporations
(GOCCs) have become important instruments of the state in consolidating its political and economic
powers. When the government declared its inability to pay its $28B foreign debt (80% of which by
GOCCs) in 1983, the World Bank and the International Monetary Fund loans specified privatization and
limiting participation of public enterprises in the economy” is recommended.

The Marcos years saw the public/government utilities and corporations taken over by crony capitalists
in many important economic activities, from the traditional sectors of public utility, financing and
agricultural development to regulation, credit, and manufacturing industry to other services.

As the Asian Labor Network Report stated: “These Government-Owned and Controlled Corporations
(GOCCs) have become important instruments of the state in consolidating its political and economic
powers. When the government declared its inability to pay its $28B foreign debt (80% of which by
GOCCs) in 1983, the World Bank and the International Monetary Fund loans specified privatization and
limiting participation of public enterprises in the economy” is recommended.

The Marcos years saw the public/government utilities and corporations taken over by crony capitalists
in many important economic activities, from the traditional sectors of public utility, financing and
agricultural development to regulation, credit, and manufacturing industry to other services.

As the Asian Labor Network Report stated: “These Government-Owned and Controlled Corporations
(GOCCs) have become important instruments of the state in consolidating its political and economic
powers. When the government declared its inability to pay its $28B foreign debt (80% of which by
GOCCs) in 1983, the World Bank and the International Monetary Fund loans specified privatization and
limiting participation of public enterprises in the economy” is recommended.

The Marcos years saw the public/government utilities and corporations taken over by crony capitalists
in many important economic activities, from the traditional sectors of public utility, financing and
agricultural development to regulation, credit, and manufacturing industry to other services.

As the Asian Labor Network Report stated: “These Government-Owned and Controlled Corporations
(GOCCs) have become important instruments of the state in consolidating its political and economic
powers. When the government declared its inability to pay its $28B foreign debt (80% of which by
GOCCs) in 1983, the World Bank and the International Monetary Fund loans specified privatization and
limiting participation of public enterprises in the economy” is recommended.

The Marcos years saw the public/government utilities and corporations taken over by crony capitalists
in many important economic activities, from the traditional sectors of public utility, financing and
agricultural development to regulation, credit, and manufacturing industry to other services.

As the Asian Labor Network Report stated: “These Government-Owned and Controlled Corporations
(GOCCs) have become important instruments of the state in consolidating its political and economic
powers. When the government declared its inability to pay its $28B foreign debt (80% of which by
GOCCs) in 1983, the World Bank and the International Monetary Fund loans specified privatization and
limiting participation of public enterprises in the economy” is recommended.