Philippine President Benigno Aquino III decreed that the number of paid holidays in 2011 be cut to 16 days, down from 21 in 2010. -- PHOTO: AP
MANILA - PHILIPPINE President Benigno Aquino on Tuesday cut the number of paid holidays next year amid complaints from foreign business groups unhappy over mounting overtime pay.
'The point, number one, is to pay the proper respects, and number two it reduces disruptions on the economy,' he told reporters after decreeing that only 16 public holidays should be observed next year, down from 21 this year.
He said the Philippines tended to go off work even when it was not observing religious holidays or the death anniversaries of heroes, such as when a regular working Friday or Monday is sandwiched between a holiday and the weekend.
Seven foreign chambers of commerce issued a report earlier last week that concluded too many holidays were forcing many potential investors to avoid the country while raising costs for employers by tens of millions of dollars.
Filipino workers had 21 public holidays this year, compared with nine in Vietnam, 11 in Singapore and 12 in Taiwan, said the study.
The business groups also took issue with the fickle and unpredictable nature of the holiday declarations, which they noted were sometimes made on very short notice, disrupting work schedules and increasing corporate costs. -- AFP
