Visayas Power Crisis Threatens Economic Growth; Business Group Demands Urgent Action

The Visayas region in the Philippines is facing a severe crisis as unstable power supply and soaring electricity rates threaten local economic growth, jobs, and the survival of enterprises. The Filipino-Chinese Chamber of Commerce of Iloilo, Inc. (FCCCI), based in Iloilo City, expressed deep concern over the issue in a statement released Tuesday, strongly demanding urgent action. The FCCCI pointed out that frequent power outages are having a devastating impact, particularly on industries heavily reliant on electricity, such as manufacturing and services. Unplanned blackouts lead to the suspension of production lines and interruptions in service delivery, resulting in decreased corporate profits and lower customer satisfaction. Furthermore, continuously rising electricity rates are squeezing businesses' operating costs, making it difficult for small and medium-sized enterprises to sustain their operations. The chamber fears that this power crisis will hinder the overall economic development of the Visayas region. Investors may hesitate to make new investments due to concerns about the unstable power supply, potentially leading to a loss of job creation opportunities. The withdrawal or downsizing of existing businesses are also cited as realistic risks. The FCCCI is calling on the government and relevant agencies to implement concrete measures to stabilize power supply, promote the adoption of renewable energy, and undertake fundamental reforms to rationalize electricity rates. The chamber recognizes that the early resolution of this power issue is essential for the sustainable development of the regional economy. In the Philippine economy, the development and stable supply of power infrastructure have been long-standing challenges, and their importance is increasing, especially for the development of the regional economy. The Visayas region is a hub for tourism and manufacturing, and resolving this power issue is directly linked to the revitalization of the regional economy.