‘Economic reforms needed to dismantle oligarchy’

Dismantling oligarchy in the country takes structural reforms and an overhaul of existing laws, Senate Minority Leader Franklin Drilon said yesterday.

Without necessary structural reforms, Drilon expressed fear that oligarchs would only be replaced by cronies of whoever is in power.

“What is it in our legal system that makes oligarchy possible? To me, we must study that. Structural reform is necessary,” he said at a virtual forum. The senator added that he is willing to work with the administration to review the current system and enact measures

that can prevent all forms of oligarchy.

“I am willing to sit down with the Duterte administration to examine the laws that we have and find out which laws should be amended or which laws should be enacted (so) that we can remove or dismantle structures that made possible the oligarchy,” he said.

Drilon cited enacting an anti-dynasty law and reforming the political party system in the country as measures that can prevent oligarchy.

He said they are the oligarchs that the country must first rid itself of and that political dynasties allowed oligarchs to thrive.

For Sen. Francis Pangilinan, President Duterte just made up the “oligarchy

problem” to divert the attention of Filipinos from his administration’s blunders in addressing the country’s problems, including poverty and the coronavirus disease 2019 (COVID-19) pandemic.

The broadcasting giant recently failed to get a fresh 25-year franchise from Congress.

Sen. Joel Villanueva said institutional and legal arrangements that do not facilitate enough competition to challenge the market control of the few are to blame for oligarchy in the country.

“To equate the non-renewal of ABSCBN to the dismantling of oligarchy is inaccurate. It has more negative effects on the economy and the business climate,” Villanueva said.