Former finance secretary and Philippine Stock Exchange chairman Jose T. Pardo called on the private sector Wednesday to keep investing and hiring, even amid rising inflation, warning that economic recovery cannot wait.
Speaking at the 47th National Conference of Employers hosted by the Employers Confederation of the Philippines (ECOP) at The Manila Hotel, Pardo painted a challenging economic landscape marked by geopolitical tensions, high inflation, and weakening consumer purchasing power.
“The business sector has a crucial role right now. We must invest. We must hire. We must resist the temptation to simply hunker down and wait for better days, because better days are built, not waited for,” Pardo said.
He urged companies to push for policies that address inflation, strengthen infrastructure, open markets, and protect vulnerable groups, including small businesses and agricultural workers hit hardest by rising prices.
Pardo highlighted the country’s 7.2 percent inflation rate in April 2026 as a growing burden on both employees and businesses. He noted that firms are grappling with higher operating and logistics costs while workers’ purchasing power continues to decline.
Some companies have responded with measures like compensation reviews, flexible work arrangements, and non-cash benefits to support employees during tough times.
Pardo pointed to the Luzon Economic Corridor as a prime investment opportunity, saying it could accelerate growth in manufacturing, digital connectivity, energy infrastructure, and artificial intelligence industries if properly developed.
