DTI Flayed for Lack of Industrial policy.(Business)
Local manufacturers have urged the Department of Trade and Industry (DTI) to come up with an industrial policy if it intends to fully develop local production otherwise they will just turn into mere traders.
An industry official noted that Trade and Industry Secretary Manuel A. Roxas II has not come up with any direction from which way to proceed.
"The government should lead and we have the responsibility to follow," the official said.
Local manufacturers are facing a dilemma whether to continue producing here or just import because tariff has gone down substantially.
"It is a difficult business decision and we are asking government for help in clearing up policy distortions through the implementation of industrial policies," the official said.
In the case of the automotive industry, the policy distortion refers to the excise tax scheme which the government now wants amended and remove exemption granted to Asian utility vehicles.
"We are trying to decide whether to import or assemble locally," he said. …