"Stopping Robbers and Pirates"
1. We, participants of this Conference, have come together from 11 Asian countries1 to call for an end to illicit financial flows (IFFs), recognizing these as a massive loss of public money when needs are as urgent as ever for essential social services, decent jobs, long-lasting resilience for climate change and the full realization of human rights for all.
MENDIOLA, Manila – “Everyday millions of Filipinos are experiencing a Duterte legacy – the rising GDP. That is GDP, Gutom ng Pilipino (Hunger of the Filipino),” Atty. Aaron Pedrosa, secretary-general of Sanlakas, lambasted the current administration today in a rally of marginalized groups a short distance from the gates of Malacañang Palace.
Pedrosa said that it is high time that hardworking Filipinos, “those who suffer hunger and deprivation while a handful of families are in the Forbes list” intensify the fight against gross inequality and build a government of and for the people.
The extractives sector is one of the most concentrated and lucrative enterprises anywhere in the world. Limited competition raises questions of transparency and accountability with regard their profits, structures and systems. Revenues of the biggest mining multinational firms run to the billions of dollars, while they leave environments in often irreversible ruin, poison water and land, dislocate communities and destroy local livelihoods.
But these are not all that they extract from developing countries. Mining companies are also implicated in attempts to exploit generous fiscal incentives and loopholes in the law to dodge their tax obligations and thus further boost profits.