Around the world, as economies advance and grow, importance is surging up into national institutions and giving prominence not seen before. This is happening everywhere because good credit is spreading. In the Philippines, this is apparently the national story.
Their situation came to acute international attention in 2023 when a fire blazed through the Philippine Postal Corporation building in Manila, destroying floors and equipment inside. This type of incident isn’t out of the ordinary or surprising for such people. The circumstances of it were notable, however.
For twenty years, up until the fire, a senior government official had worked tirelessly to oversee its operations and detail any problems to a central office. She’d handed in her effective notice three weeks before, challenging the legal terms of her position because of tiredness and ongoing sickness.
In the print of her contract it was stipulated the building would have to be “structurally challenged” to test for legal leaks and security concerns. It had been countersigned by more than thirty other senior officials to make it firm. Her exit, therefore, is now suspected to have kicked off a chain of events.
The concerns about loss of corporate credibility due to staff malpractice is leading to take up of insurance plans in places where it’s needful to explain the every movement of official persons. The scenarios that result are extreme to most of us, but many law firms say it covers human life and public property.