MANILA, 12 December 2003 — Business leaders yesterday denied claims made by an ambassador that the business community wanted Sen. Noli de Castro to run for president in the May election. They warned that a de Castro presidency could be as disastrous as a Fernando Poe Jr. presidency.

“The business sector is scared not only of an FPJ (Fernando Poe, Jr.) but also of a de Castro becoming president,” said Vivian Yuchengco, president of the Philippine Association of Brokers and Dealers and former chair of the Philippine Stock Exchange.

On Wednesday, Edgardo Espiritu, Philippine ambassador to the Court of St. James’ in London, said the business community wanted de Castro to run for president to prevent a Poe victory.

Poe, also known as FPJ or “Da King,” is immensely popular but he has no experience in holding public office. His critics fear he could do worse than his bosom buddy Joseph Estrada, who was kicked out in a popular uprising in January 2001 and now under detention pending trial for charges of plunder.

If de Castro runs for the presidency, he will join the company of President Gloria Macapagal Arroyo, Sen. Panfilo Lacson, former Education Secretary Raul Roco and Poe.

De Castro, a former newscaster of ABS-CBN known as “Kabayan,” is reportedly being pushed to run by the Lopez family, who owns the broadcast network.

Yuchengco said that while businessmen were apprehensive of the kind of government that would result under a politically inexperienced Poe, they were equally not confident about the capability of de Castro.

She also said these business leaders viewed Arroyo as the most prepared among those seeking the presidency. She said she herself is supporting Arroyo’s bid for another term because ensuring a continuity of economic programs would benefit the economy.

“Despite all the things happening around, she is still able to manage the economy well,” Yuchengco said. “She was able to improve security after the capture of (Abu Sayyaf leader) Commander Robot and (the slain Indonesian bomber Fathur Rohman) Al Ghozi.”

Miguel Varela, chairman of the Philippine Chamber of Commerce and Industry (PCCI), also said his group was not aware of any efforts by the business sector to push de Castro to run for president in order to prevent a Poe victory. He said that the PCCI was not supporting a specific candidate and that its policy was to encourage candidates to present their program of government so that the people would be able to vote wisely.

Donald Dee, president of the Employers Confederation of the Philippines (ECOP), voiced a similar comment.

“Our posture is not to be partisan,” Dee said. “Our main commitment is that once a candidate is identified, we would like to know his or her program.”

Arroyo to Gain

Arroyo’s men, meanwhile, said de Castro’s entry into the race would be a welcome development for them because de Castro could eat into the votes for Poe.

“We are very confident that it will be a victory for the president,” the president’s campaign spokesman, Housing Secretary Mike Defensor, yesterday told reporters.

A ranking official also said a de Castro run for president or vice president would be “favorable” to Arroyo.

The official, who asked not to be named, cited the results of the November survey of Pulse Asia Inc. showing that she would win if she runs against seven other candidates.

“There are many interpretations,” Defensor said. “It may also be that (businessmen) feel that Senator de Castro would bring down the votes of Mr. Poe.”

In the opinion of Rep. Didagen Dilangalen of Maguindanao province, de Castro’s prospective candidacy is a ploy by Malaca?ang Palace. “The Palace itself is pushing de Castro to run in order to cannibalize the votes of FPJ,” said Dilangalen, who is supporting Senator Lacson. (Input from Inquirer News Service)