Govt flexes muscle on local procurement

According to a statement from the Ministry of Trade and Industry (MTI), government took this decision to try and curb the unemployment rate, build a sustainable economy and reduce the import bill, which currently stands at about P58 billion per annum. The directive is effective April 2015. 

“This is a critical measure through which government wishes to ensure that its purchasing power is used to stimulate economic growth and create the much-needed employment through consumption of locally manufactured products and services,” reads the statement.