We take strong exception to a reported statement of former President Ramos that we are in a state of "artificial stability."

The economy has been on an extended bull run and was never seriously affected by political turmoil or destabilization. Military adventurism was nipped in the bud by Presidential Proclamation 1017 and any cracks in the chain of command have been sealed and cemented.

Normalcy has been restored in all institutions of governance and the mopping up operations against residual threats is ongoing.

President Arroyo has quickly shifted the agenda from political stabilization to the economy and is back on the road wooing investments and creating jobs.

Our newfound fiscal stability is a tribute to the sense of sacrifice and resiliency of the Filipino.

These charges before the United Nations are absurd and are being done purely for propaganda purposes.

We are a Constitutional democracy operating under the rule of law and violations of human rights are open to challenge before the courts.

President Gloria Macapagal-Arroyo thanked today the government’s economic team and the private sector for working together to let the ordinary consumers feel the benefits of a strong peso.

In a Roundtable Discussion this afternoon in Malacaņang on the latest developments in the country’s economy with Energy Secretary Raphael Lotilla, Finance Secretary Margarito Teves, Trade Secretary Peter Favila, and Customs Commissioner Napoleon Morales among others, the President said the strong peso has helped in bringing down the retail price of liquefied petroleum gas (LPG), a commodity used by majority of Filipino households.

Also present during the discussion were newly-appointed Internal Revenue Deputy Commissioner Lilian Hefty, Land Transportation and Franchising Regulatory Board chair Elena Bautista, Liquigaz president and chief executive officer Patrick Libhoul, and Zeny Maranan, chairperson of the Federation of Jeepney Operators and Drivers Associations of the Philippines (FEJODAP).

LPG prices have gone down four times for the past few weeks, with an average of P2 per kilogram due to the downtrend in LPG contract prices in the world market.

The peso on the other hand, has continued to rally, closing on Friday at P51.04 against the US dollar at the Philippine Dealing System of the Bankers Association of the Philippines.

During the discussion, the President cited the need to bring down transport costs by studying the possibility of jeepneys using LPG as fuel instead of gasoline or diesel.

Since the conversion of diesel-fed engines to LPG-fed is expensive, the President said there is a need for refleeting of jeepneys all over the country so they could use LPG just like around 300 taxi units in Metro Manila and a thousand units in Cebu City.

Bautista confirmed that it is expensive to convert a diesel-fed jeepney to LPG-fed thus the need for refleeting which would eventually be economical and environment-friendly in the long run.

Malacaņang took exception today to a reported statement of former President Fidel V. Ramos that the country is in a state of "artificial stability."

Press Secretary and Presidential Spokesperson Ignacio R. Bunye said in a statement that military adventurism has been nipped in the bud by President Gloria Macapagal-Arroyo’s declaration of a state of national emergency and any cracks in the chain of command "have been sealed and cemented."

"The economy has been on an extended bull run and was never seriously affected by political turmoil or destabilization," he stressed.

Bunye was reacting to reports quoting former President Ramos as belittling Palace efforts to resolve the growing restiveness in the Armed forces.

Ramos, speaking at the joint membership meeting of the Foreign Chamber of Commerce in Makati City Thursday night, said the stability in place will not be able to withstand extraordinary pressures similar to the standoff at the Marines headquarters in Makati last month.

Bunye pointed out that normalcy has been restored in all institutions of governance and the mopping up operations against residual threats is ongoing.

"President Arroyo has quickly shifted the agenda from political stabilization to the economy and is back on the road wooing investments and creating jobs," he said.

Bunye noted that stability under the rule of law is growing solidly and the only thing artificial is the illusion of instability being foisted by the opposition.

President Gloria Macapagal-Arroyo asked today Finance Secretary Margarito Teves to find ways to help ease the burden of the exporters due to further strengthening of the peso.

In a Roundtable Discussion in Malacaņang this afternoon aired over government channel NBN 4, the President noted that Teves, being an "exponent of market forces," could help find ways to help the exporters cope with a strong peso.

"The national government cannot intervene and control the rallying of the peso. Only the Central Bank can do that, but I was informed by Governor (Amando) Tetangco that the Bangko Sentral ng Pilipinas would not intervene and just let the market forces determine the (value of the) peso so there is a need to find ways to help the exporters," the Chief Executive said.

The President noted that since it is again graduation time, it is expected that remittances from overseas Filipino workers (OFWs) would help the peso to strengthen further.

There are several benefits from the peso’s appreciation, including reduction of the country’s debt costs and helping curb inflation.

Exporters, however, have been complaining that they are losing competitiveness due to the continuing appreciation of the peso, Asia’s best performing currency last year.

A stronger peso means lower profit margins for exporters of Philippine products. Local export-based industries have started to complain of the immediate impact on their bottom line.

Malacaņang dismissed today as absurd and meant only for propaganda purposes the human rights case filed by an opposition lawyer against President Gloria Macapagal-Arroyo before the United Nations, claiming it is only meant to embarrass the country.

Press Secretary and Presidential Spokesperson Ignacio R. Bunye pointed out in a statement that the Philippines is a Constitutional democracy operating under the rule of law and that violations of human rights are open to challenge before the courts.

"These charges before the United Nations are absurd and are being done for propaganda purposes," he said.

Bunye was referring to the complaint filed by Atty. Neri Javier Colmenares, lawyer of detained militant Party-list Rep. Crispin Beltran of Anakpawis, before the UN Human Rights Committee (UNHRC) accusing the President and her government of illegal arrest and arbitrary detention.

The complaint cited Beltran’s arrest which it said was based on the solon’s political beliefs and not "for any criminal act committed by him."

Colmenares asked the UN to "express concern" over Beltran's arbitrary and continuing detention and threats of warrantless arrests against members of the opposition.

A similar complaint was filed by the Alliance for the Advancement of People’s Rights before the UNHRC, citing alleged summary execution of human rights workers.

Bunye said the opposition is merely shopping for venues to embarrass not only the government but also the country before the eyes of the world.