“We are not surprised that these names came up in the Forbes’ list. We expected that these big capitalists will land in the list, especially because the Aquino government has given them all the blessings to exploit the Filipino workers and people,” Elmer “Bong” Labog, KMU chairman, said in a press statement.
KMU said some of the local tycoons on the Forbes list were capitalists who benefited from the governments’ sell-out of public services and utilities under various privatization schemes especially in the power industry.
“These capitalists are vultures that prey on the blood, sweat and tears of the Filipino workers and people. They should be condemned, not admired and held up as models, for amassing great wealth from the worsening poverty and hunger among the majority of the people,” Labog said.
RELATED STORIES
Businessman Henry Sy crashes into Forbes’ 100 richest people in the world
Forbes list of richest Filipinos highlights gaping poor, rich divide