Malacañang Thursday assured that Martial Law in Maguindanao should not be a cause for alarm among investors as reports that the Philippine stock market had been affected by the martial rule in the southern part of the country surfaced.

Presidential spokesman on Economic Affairs Gary Olivar said in a press briefing Thursday that the objectives of the implementation of Martial Law is clear, stressing that it is only confined to the province of Maguindanao, is limited to only 60 days and is still subject for review by both Houses of Congress.
“So there’s really no reason for fear to exist,” Olivar said.

Malacañang had earlier stressed that Martial Law will not be extended to other areas of Mindanao.

Olivar explained that following the imposition of Martial Law in Maguindanao Friday night (Dec. 4), there had been “several developments” that have been observed in the province, citing the arrest of some of the members of the Ampatuan clan, who has been charged with rebellion; the search for almost 200 people involved in the Maguindanao massacre and the rebellion against the government, the eyed inquiry on the Ampatuans’ unexplained wealth, as well as the confiscation of illegal weapons and ammunition.

“We’ve certainly prevented the possible cycle of violence between parties that might have happened; the peace and order was maintained, government functions continue so when we talk about martial law if it is fear to be welcomed – I’m sure [those involved in the] stock market---being rational people, take this into account,” he said.