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Marcos admin eyes building 20 new dams by 2028
To meet the country’s growing demand for water and power, the government is eyeing to build 20 medium and three to five large dams by 2028, the end of President Marcos’ term, according to National Irrigation Administration head Eduardo Guillen......»»
Agdao Public Market vendors want variety and vegetable sections merged
DAVAO CITY (MindaNews / 24 March) – Vendors of Agdao Public Market here are asking the city government to merge the Variety and Vegetable Sections into one section claiming they have difficulties in getting customers because of their location. In a letter addressed to Mayor Sebastian Duterte, the City Administrator’s Office, the City Economic Enterprise […].....»»
Solon bats for expansion of motorcycle taxis outside Metro Manila
A House lawmaker has voiced his support for expanding the government's allotment of motorcycle taxis outside Metro Manila as the Land Transportation Franchising Regulatory Board is set to greenlight the participation of more players in its pilot study......»»
Whole-of-government approach to protect Mt. Apo from destructive fires
COLLABORATIVE efforts from local government units, national government agencies, communities, and other stakeholders are put in place to protect Mt. Apo against fire amid El Niño......»»
Government calls for Earth Hour switch-off tonight
Government agencies are calling on the public to join the Earth Hour today by switching off non-essential lights from 8:30 p.m. to 9:30 p.m......»»
GSIS taps Maya for payments
State-run pension fund Government Service Insurance System is expanding its payment channels through a partnership with digital bank Maya Bank Inc......»»
Naitas Holiday Shootout aims to promote golf tourism in Philippines
The National Association of Travel Agencies (NATA) recently announced the NAITAS Holiday Golf Shootout 2023 — a golf event eyeing to promote the Philippines as a top golfing destination — slated December 15 at the prestigious Club Intramuros in Manila......»»
PEZA chief understands investors’ dilemma
The director general of the Philippine Economic Zone Authority said he understands the clamor of investors with regard to tax perks and incentives, which is why it’s only right that the government has finally decided to amend the implementing rules and regulations of Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. During discussions at the Rotary Club of Manila membership meeting last 5 October 2023, a member of the Club who is an investor in various sectors locally said the current policies of the government in terms of tax perks were unpredictable because of the “tug of war” between the investment promotion agencies, that is, PEZA and the Board of Investments, which are both under the watch of the Department of Trade and Industry, and the Fiscal Incentives Review Board, chaired by Finance Secretary Benjamin Diokno. Last among five countries He said that explains why the Philippines is the last among five countries considered by investors as investment destinations in Southeast Asia, with investments now being dominated by Vietnam, followed by Singapore, Malaysia and Cambodia. The Rotarian said in terms of exports, the Philippines is also a laggard compared to the performance of the country’s Southeast Asian counterparts. Total Philippine exports dropped to $6.1 billion in July 2023, from $6.7 billion in the previous month. In comparison, Vietnam in August 2023 enjoyed $32.8 billion in exports. Most attractive destination Vietnam is now considered Southeast Asia’s most attractive destination for foreign investors because of its favorable business environment, steady economic growth, improved infrastructure and pro-foreign investment policy changes. According to Standard Chartered Bank, Vietnam’s advantages to being the top tourist destination are in terms of labor, global trade integration, supply chains, political stability, and potential resources, with the government committed to promoting trade and sustainable growth. Unclear policies Another issue that was being questioned by some investors, according to the Rotarian, is the realization of the Fourth Industrial Revolution which also doesn’t have clear policies for renewable energy, data centers, information technology and artificial intelligence. “We have yet to see concrete policy formulation and a roadmap to that effect, compared to the recent pronouncement of US President Joe Biden that Vietnam is positioned as the future chipmaker. The United States is currently legislating measures to dispense funds for that purpose. There seems to be a disconnect,” the investor said. Regarding this, PEZA’s Panga admitted that there were indeed ‘differences’ in terms of policies among government agencies, particularly the DTI and the FIRB. Still, Panga sought the support of the oldest and first Rotary Club in Asia where it concerns PEZA’s job to further attract foreign direct investments into the country. Panga emphasized that a whole government, industry, and society approach is needed to improve and lessen the cost of doing business. Eco-zoning push “Through our collaborations and strategic alliances, PEZA, together with the Rotary Club of Manila, other ecozone industries, and stakeholders, will continue to push for eco-zoning the Philippines towards inclusive and sustainable development,” he added. Last August 2023, Finance Secretary Diokno and Trade and Industry Secretary Pascual approved the amendment to the IRR of the CREATE Act that will resolve the value-added tax issues raised by transitory registered business enterprises. The post PEZA chief understands investors’ dilemma appeared first on Daily Tribune......»»
PEZA chief understands Rotarian investors’ dilemma
The director general of the Philippine Economic Zone Authority said he understands the clamor of investors with regard to tax perks and incentives, which is why it’s only right that the government has finally decided to amend the implementing rules and regulations of Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises Act. During discussions at the Rotary Club of Manila Membership Meeting on Thursday, a Rotarian who has invested in the country said the current policies of the government in terms of tax perks remain unpredictable because of the ‘tug of war’ between the investment promotion agencies, namely PEZA and the Board of Investments, which are all under the watch of the Department of Trade and Industry, with the Fiscal Incentives Review Board, chaired by Finance Secretary Benjamin Diokno. He said that the reason why the Philippines is the last among the top five countries considered as top investment countries in Southeast Asia, which is now being dominated by Vietnam, followed by Singapore, Malaysia, and Cambodia. He said in terms of exports, the Philippines is also a laggard compared to the performance of Southeast Asian counterparts. The Philippines' total exports plummeted to $6.1 billion in July 2023, compared with $6.7 billion in the previous month. Its tough competitor, Vietnam, this August 2023 is enjoying $32.8 billion in exports. Vietnam is now considered Southeast Asia’s most attractive destination for foreign investors because of its favorable business environment, steady economic growth, improved infrastructure, and policy changes. According to Standard Chartered, Vietnam’s advantages to being the top tourist destination are in terms of labor, global trade integration, supply chains, political stability, and potential resources, with the government committed to promoting trade and sustainable growth. Unclear policies Another issue that was being questioned by some investors, according to the Rotarian, is the realization of the Fourth Industrial Revolution which doesn’t have clear policies for renewable energy, data centers, information technology, and artificial intelligence. “We have yet to see concrete policy formulation and roadmap to that effect. Compared to the recent pronouncement of US President Joe Biden Vietnam will be positioned as the future chipmaker, and the US is now legislating measures to dispense funds for that purpose. There seems to be a disconnect,” the investor said. With this, PEZA’s Panga admitted that there are indeed ‘differences’ with government agencies, particularly the DTI and the FIRB, but also sought the support of the club in PEZA’s job to further attract foreign direct investments into the country. Panga further emphasized that a whole government, industry, and society approach is needed to improve the ease and lessen the cost of doing business. "Through our collaborations and strategic alliances, PEZA, together with the Rotary Club of Manila, other ecozone industries, and stakeholders, will continue to push for eco-zoning the Philippines towards inclusive and sustainable development," he added. Last August, Finance Secretary Diokno and Trade and Industry Secretary Pascual approved the amendment to the IRR of the Act that will resolve the value-added tax issues raised by transitory registered business enterprises. The post PEZA chief understands Rotarian investors’ dilemma appeared first on Daily Tribune......»»
Famed environmental warrior graces RC Manila assembly
The Rotary Club of Manila had a brilliant, unique guest speaker at its last weekly members’ meeting at the Manila Polo Club — the famed, internationally acclaimed author, lawyer, environmental activist, and recipient, in 2009, of what is regarded as the Nobel Prize of Asia, the Ramon Magsaysay Award (non-category), Antonio Oposa Jr. For about an hour and a half last Thursday, 21 September 2023, RC Manila members, officers and guests at the MPC’s Turf Room alternately stood up to sing along and listen to Oposa’s telling of “good stories,” his way, he said, of promoting and creating awareness for his advocacies and his passion for the environment. Oposa earned a law degree from the University of the Philippines College of Law. For a short time, he worked in a law firm, until he realized that his heart was not in the practice of law but rather with nature and the environment. He traveled to Norway and enrolled in a course on energy and the environment at the University of Oslo’s summer program and afterwards, to Boston, where he pursued and later obtained his LLM at the Harvard Law School in 1997. [caption id="attachment_188497" align="aligncenter" width="525"] Valiant environmental warrior Antonio Oposa: ‘My biggest achievement is that I have turned some of my adversaries into co-advocates. And what could be more inspiring now than to see their own children out there, protecting the sea?’[/caption] In 1993, Oposa made global headlines for the landmark case, Minors Oposa v Factoran where the Supreme Court ruled that the 43 children counseled by Oposa, who filed legal action against the Department of Environment and Natural Resources, seeking cancellation by the agency of existing timber license agreements and stopping the issuance of new ones, ruled in favor of the plaintiffs. “The case was brought to court amid the government’s then granting over 90 logging companies permits to cut down nearly four million hectares of old-growth forest when only 850,000 hectares remained. And forests were being logged at a rate of some 200,000 hectares per year! I told the Court how my son, only three at that time, would no longer see these forests by the time he was 10. I couldn’t help thinking, that if this wasn’t stopped not a single old-growth forest would remain for him and future generations to enjoy,” Oposa said. The case had initially been dismissed in trial court on the ground that there was no legal personality to sue. Oposa elevated the case to the Supreme Court, and in a much-hailed case of intergenerational responsibility, the Supreme Court upheld the legal standing and right of the children to initiate action on their behalf and on behalf of generations yet unborn. What was so remarkable about the case is that Oposa sued on behalf of generations yet unborn and today that milestone case is known in Philippine and global jurisprudence as the “Oposa Doctrine.” For its part, the Philippine Supreme Court, too, carved a permanent niche for itself in environmental law with its promulgation of Oposa v Factoran. It secured its place in history, earning praises from the international environmental community and a reputation as a champion of the right to a healthy environment. Oposa also recounted at this talk at the RC Manila meeting last Thursday another epic landmark case involving the legal tussle he waged against 11 government agencies for the cleaning up of severely polluted Manila Bay. In December 2008, a decade after he filed that case, the Supreme Court issued a decision in his favor. In a continuing mandamus ruling, the Supreme Court ordered all defendant agencies to implement a time-bound action plan that would clean up Manila Bay and to give the Court a progress report on the matter every three months. Oposa talked about the Island Sea Camp he organized in 2001 in Bantayan Island where he gave children lessons on coral reefs, snorkeling and sustainable practices. In 2003, 2004, while holding weekend training camps for children in the Sea Camp “we noticed the rampant illegal fishing going on. Dynamite fishing and commercial fishing intrusions into prohibited coastal zones went unchecked. Something had to be done,” related Oposa. Thus, was born the Visayan Sea Squadron. “I organized a strike team with crack enforcers from the National Bureau of Investigation, Navy, fishermen, sea watch volunteers, lawyers, law students and even a few foreigners. The target was not small fishermen but crime syndicates and operators behind the sale of blasting caps and dynamite powder. Seizures and raids followed,” he said. Operations were so effective that word went out that his friend Jojo de la Victoria, the fearless Cebu City Bantay Dagat (Sea Watch) chief, and Oposa were targets of assassination. A local newspaper interviewed De la Victoria, revealing an intelligence report about illegal fishing operators putting up a P1-million bounty for him and Oposa. In 12 April 2006, 48 hours after he was interviewed, De la Victoria was felled by a hired gunman outside his house in Cebu City. “Jojo’s life was not in vain. After his funeral, a core team met for dinner to regroup. The tide of illegal fishing started to turn. Exploits of the Visayan Sea Squadron — and the courage and synergy of the men and women who made it happen — became known far and wide,” Oposa said. He continued, “Four years after Jojo died, Visayan Sea Squadron co-founder Alfredo Marañon was elected governor of Negros Occidental province. He gathered the other governors in the region to begin a restorative plan for the Visayan Sea which encompasses an area of over a million hectares. The governors passed a landmark joint resolution declaring the entire Visayan Sea a marine reserve.” For his valiant work as an environmental warrior, Oposa has been the recipient of many award in recognition of his valiant work as an environmental warrior. Aside from receiving the Ramon Magsaysay Award in 2009, he was given the equally prestigious Center for International Environmental Law Award in 2008. Earlier, in 1997, he was conferred the United Nations Environment Programme Global 500 Roll of Honor, the highest UN honor in the field of the environment. Asked if there was anything about his attainments that gives him the most satisfaction, Oposa said, “My biggest achievement is not that I caught this violator and that violator when we were busy with our Visayan Sea Squadron operations; it is that I have turned my adversaries into co-advocates. Some of those who had opposed me are now supporting me in my advocacies. And what could be more inspiring than to see their own children helping us out there, protecting the sea?” The post Famed environmental warrior graces RC Manila assembly appeared first on Daily Tribune......»»
Maharlika’s questions linger (1)
The ink of BBM’s signature on the law creating the Maharlika Investment Corporation, or MIC, is now dry, and the Implementing Rules and Regulations have been issued. But still, the criticisms continue unabated from Pinoy kibitzers, i.e., management experts, private economic think tanks, to the top echelons of leading business organizations. Over the weekend, as the MIC’s partial start-up capital was remitted to the National Treasury, a leading periodical (not DAILY TRIBUNE) headlined the claim of the leadership of DBP, Michael de Jesus, that “gains from MIC’s trailblazing activities” will surely be forthcoming by the end of BBM’s term. Yet beneath the headline of the same broadsheet was a reference to well-regarded businessman George Barcelon, PCCI president and an esteemed fellow member of the Rotary Club of Makati, who said the MIC should have first finalized its board and management line-ups before DBP and Landbank made any contributions. Further, during the Institute of Corporate Directors-sponsored talk on the MIC of Dr. Bernardo Villegas last week, several ICD fellow members raised questions to Doc Bernie and the panel composed of yours truly and fellow governance advocate Francisco del Rosario. Not only that, several friends in my Upsilon Sigma Phi and AIM chat groups, who count among them several well-informed, leading management and business lights of our country, had concerns and comments about the MIC. Given this apparent continuing widespread interest from people whom I have great respect for and who certainly have only the best interest of the country in mind in voicing their observations, I would like to give it a shot and share what I believe are the key issues that are perennially raised and my own reactions to these comments. Do we need another GOCC when other agencies and GOCCs are in place? There is a frequent reference to NDC, a GOCC under the DTI with a long history of hits and misses. It has historically ventured into businesses that the private sector would generally not be interested in but nevertheless deemed important for the country’s economic development. However, saddled with relatively modest capital and some under- and non-performing assets on its balance sheet, NDC has never really figured in any blockbuster transactions or has high-potential assets that could catch the interest of multilateral or global venture funds. The bottom line, surely prospective foreign investors would rather partner with a GOCC that has a clean balance sheet, significant capital, is manned by leading management and investment experts, and is supported by a board composed of the highest economic agencies in the country. Mandating LandBank and DBP to invest P75 billion in the MIC will deprive other borrowers needing credit, such as farmers and MSMEs. Indeed, it will theoretically reduce their loanable funds to this extent. However, a cursory look at LandBank’s latest published financial statements will indicate that loans and receivables are only at about 30 percent of total assets, suggesting that they are underlending relative to their lending capacity. In fact, during the Senate hearings on MIC, I recall the bank officials disclosing that almost 90 percent of their liquidity is invested in government securities. Why this is so is another story. Furthermore, other than BSP regulatory constraints, these GFIs are not geared, philosophically and organizationally, to be investing in equity, particularly of long-term duration, i.e., non-allied undertakings such as infrastructure or the agriculture sector, which are expected to be the MIC’s target investee industries. MIC will bypass the budget and appropriations process, reducing the government’s resources that could otherwise have been made available for the country’s other needs. Yes, MIC will bypass the budget and appropriation process because perhaps that was the whole intention. But as noted by Dr. Villegas in his ICD talk, with our current deficit, the national budget is intended for the country’s pressing operating needs. In contrast, the long-term capital funding required for infra and the like is precisely the funding gap that MIC could fill through joint ventures with foreign investors. Until next week… OBF! *** For comments, email bing_matoto@yahoo.com. (To be continued) The post Maharlika’s questions linger (1) appeared first on Daily Tribune......»»
Chronic bureaucratic lapses
The entire bureaucracy suffers from serious lapses. Let’s borrow the phrase, “seven deadly sins,” as a handle to better understand how they indicatively fail to inform public policy on what government “should do or should not do,” to wit: First: “Tight fiscal space.” A little over 60 percent of GDP (gross domestic product) is reserved for foreign lending institutions with which the country has huge borrowings. Consequently, the government has to make do with the remaining less than 40 percent in terms of public spending. It’s no urban legend that about 45 percent of these allocable public funds is siphoned off due to massive corruption across all levels of government. Second: “Good governance.” The term, as often used, is an oxymoron. Whenever presidential appointees in any line department, agency, or bureau introduce reforms or new management ideas into state affairs, it’s unfortunate that outcomes and impacts go in the opposite direction — or bad governance overshadowing good. Isn’t it a paradox that the “top brass” of the Manila International Airport Authority were dismissed by the Ombudsman even as key stakeholders and captains of industry (i.e., the Makati Business Club) vetted and vouched for their performance par excellence on the job? Contrivedly, a purely management issue just shouldn’t be within the purview of the Ombudsman. For another, how is it that the housing program has become too costly for the government? Reportedly, P36 billion in interest is accrued by the government every year if one million houses are built. With a target of three million houses, the onerous interest is pegged at P100 billion every year, a “sunk cost” that the economy can ill afford to sustain. Why even start a program that demands that humongous amount of interest on a year-by-year basis? Third: “Street-level bureaucracy.” Nearly the whole range of public affairs appears to be manned by those we can compare to a typical traffic enforcer, gate guard, or utility aide, who, if given a chance to exercise a little authority, tend to behave as their actuations come directly from above. Fourth: “Tax hike.” Some strange mathematicians in Congress thought of taxing vehicles per kilo of weight, coupled with jacking up taxes on vehicle users by as much as 90 percent. Worse, how can there be an increase in the road users’ tax – year in and year out? Fifth: “45 seconds turnaround time.” This is the kind of rhetoric that rests on the “big bluff” or what one legislator calls a “promissory note,” or the carrot, to get what they want in their agency budgets. Scenes like offloading, missed flights, and logjams would never be a thing of the past since the Bureau of Immigration operationalized its new set of guidelines that are essentially racist, if not anti-poor, against outbound Filipino travelers, while sparing foreign travelers. Sixth: “Privatization overdrive.” There’s a dangerous pattern or trend of government aiming to privatize the Ninoy Aquino International Airport, all 45 casinos of PAGCOR, some mass transport systems (e.g., LRTs), and the toll expressways. Whether or not this privatization track is driven by the “gospel of efficiency” is another story. More likely, it’s because it opens doors to raising “windfall capital” and making available “alternative investments.” Seventh: “Multiple allotments.” As if a mere afterthought, there are “double entries,” even multiple ones, in the National Expenditure Plan that bloat the budget and such entries by various agencies even insulate them from any accountability. This explains why what is budgeted — twice or thrice — cannot be disbursed over and over again, not to mention the perennial failure of most line departments to fully utilize their budgets. In the voluminous General Appropriations Act the President signs, every budget cycle has become a “hiding place” for public funds that only trained eyes can declassify as “significant others,” for lack of a better term. It isn’t remote to say that when an agency prepares its budget, it knows under which item in its “shopping list” the money is. The post Chronic bureaucratic lapses appeared first on Daily Tribune......»»
DoT chief seeks Rotarians’ support for tourism projects
A partnership with the Rotary Club of Manila, along with other Rotary Clubs in the country can realize the government’s objective of transforming the Philippines into a tourism powerhouse in Asia. [caption id="attachment_179067" align="aligncenter" width="2430"] Department of Tourism Secretary Christina Garcia Frasco, in her speech as guest speaker of the Rotary Club of Manila during the Club's weekly meeting at the Manila Polo Club last 31 August, said it was her ‘sincere hope that with the partnership of the Rotary Club, as well as its members and the captains of industry who contribute in one way or another to the project of nation-building, we can ensure that our country — through tourism — will have a more primary role in Asia as a tourism powerhouse.’[/caption] This was the call made by Tourism Secretary Maria Christina Frasco after presenting the stance of the tourism industry in the country before members and officers of the Rotary Club of Manila during the Club’s membership meeting at the Manila Polo Club last Thursday, 31 August 2023. Frasco reported that the efforts of the DoT, along with the whole-of-government approach ordered by President Ferdinand Marcos Jr. in implementing the department’s projects with an eye to restoring the glory of the tourism industry has resulted as of 30 August 2023 into 3.6 million international arrivals, surpassing the total number of international arrivals last 2022. The figure is already 75.92 percent of the country’s target of 4.8 million tourist arrivals this year. “Philippine tourism contributed 6.2 percent to our gross domestic product in 2022; it is being hailed by our economic managers as the second growth driver in the first six months of this year,” she said. By the end of 2022, Frasco said the tourism industry has contributed over P1.87 trillion to the Philippine economy as a composite of international and domestic spending, representing a 67 percent recovery since 2019. “Tourism also contributed over 5.5 million in tourism employment, an 11 percent share of the national employment, and also represents over 93 percent in recovery from 2019 data,” she added. Frasco also said that the rallying of Philippine tourism after the battering it got from the pandemic stands at 66.3 percent, higher than the 54 percent average recovery of ASEAN nations in 2022. As per tourism receipts, Frasco said the industry has already breached P285.9 billion as of 31 July 2023. Pillars of Tourism The Tourism secretary stressed that to give the Philippines a fighting chance at standing shoulder-to-shoulder with its neighbors in the ASEAN region, her department had crafted the National Tourism Development Plan 2023-2028, which does not only focus on the promotion of tourism alone but also in analyzing and understanding the essential pillars of tourism. Approved by President Marcos Jr. last May 2023, the NTDP provides a framework to guide the development and implementation of programs, projects, and activities towards a sustainable, innovative, inclusive, and globally competitive tourism industry. NTDP’s seven strategic goals include improvement of tourism infrastructure and accessibility; cohesive and comprehensive digitalization and connectivity; enhancement of overall tourist experience; equalization of tourism product development and promotion; diversification of the tourism portfolio through multidimensional tourism; maximization of domestic and international tourism; and strengthening tourism governance through close collaborations with national and local stakeholders. Putting the Plan into concrete action, the DoT hopes to have an accumulated total of 51.9 million tourist arrivals and 34.7 million tourism-related jobs in the country by 2028. Frasco said in terms of infrastructure, the DoT has partnered with the Department of Public Works and Highways to improve accessibility in the regions with tourism sites. “This is by constructing, rehabilitating and adding tourism roads leading to tourist destinations. This year, over 158 kilometers of tourism roads have already been constructed,” she said. Aside from this, Frasco said the DoT has also coordinated with the Department of Transportation in improving connectivity, primarily in the country’s gateways for the improvement of flights and tourist journeys. With this, Frasco said the country is starting to see robust recovery of connectivity in the country, including a 100 percent increase in flights in Clark International Airport; a 614 percent increase in flights in Kalibo International Airport; and over a 300 percent increase in flights in Mactan-Cebu International Airport, among other airports in the country. Moreover, she said they also partnered with the Department of Information and Communications Technology for the purpose of improving internet connectivity across 94 tourist destinations in the country. Connectivity in 47 of these destinations have already improved, according to Frasco. e-VISA Furthermore, Frasco said the DoT has engaged with other government agencies, namely the Department of Foreign Affairs, the Department of Justice, the DICT, and the Bureau of Immigration for the streamlining of the visa application process, aiming to enhance convenience and accessibility for all international travelers, starting with Chinese visitors. Last 24 August, the DFA implemented the Philippine e-Visa system in Philippine Foreign Service Posts in China. The Philippine e-Visa will allow foreign nationals entering the country for tourism or business to apply for temporary visitor visas remotely through their personal computers, laptops and mobile devices. Other initiatives conceptualized by the DoT to improve the tourism experience include the “Hop in Hop Off” project; being part of the “Love the Philippines” tourism slogan; the “Philippine Experience”; facilitating a cultural tourism circuit development focused on heritage, culture, and arts to enhance current tour and domestic circuit offerings, which include Food and Gastronomy, Pilgrimage and Wellness, Living Cultures and Heritage, and an Arts caravan. In order to equip Filipino tourism workers, the DoT is set on training 100,000 of these workers and capitalize on the world-renowned Filipino hospitality. “We have already managed to train over 71,000 Filipino workers,” Frasco said. Optimistic “Frasco said the Marcos administration remains optimistic about tourism recovery and the resurgence of the nation. “Our numbers will indicate that tourism will continue to be a top economic driver that will provide massive employment and livelihood opportunities to Filipinos and our MSMEs,” she said. With the launch of the enhanced “Love the Philippines” branding, Frasco maintained that it would give the country a better opportunity to be reintroduced to the world. The post DoT chief seeks Rotarians’ support for tourism projects appeared first on Daily Tribune......»»
Gov’t seeks Indon capital
Finance Secretary Benjamin Diokno presented to Indonesia’s business community the Philippine economic plans for securing investments in infrastructure, energy and technology. In a statement by the Department of Finance on Thursday, it said Diokno conducted the talk in Jakarta City on Wednesday ahead of the 10th ASEAN Finance Ministers and Central Bank Governors’ Meeting from 24 to 25 August. The listeners included members of the Indonesian Chamber of Commerce and Industry and the Philippine Business Club Indonesia, and officials of foreign embassies in Jakarta. Diokno said the Philippine lawmakers are now studying all measures for faster public-private partnerships or PPPs as the Marcos administration aims to build 197 infrastructure flagship projects, including railways, airports and water management, among others. PPP crucial “The PPP Act, which is currently pending in the Senate, consolidates all legal frameworks on PPP and creates a unified system for investors to refer to when engaging in PPP projects,” DoF said. To build more capital for Philippine infrastructure development and diversify investment channels, Diokno said government agencies are now crafting the rules and regulations of the Maharlika Investment Fund. “This is the Philippines’ first sovereign investment fund that will serve as a platform for investors to engage in direct equity investments in Philippine ventures,” he said. Diokno said both the legislative proposal and newly approved sovereign fund will support economic expansion from liberalized investment laws passed by the previous Duterte administration. Diokno shared amendments to the Public Service Act which now allows full foreign ownership from 40 percent previously of various businesses, such as airlines and telecommunications. Amid growing concerns with climate change, the finance chief said this applies also to renewable energy facilities, such as solar plants. Indonesia, along with China and India, is among the world’s largest exporter of coal, according to the International Energy Agency. However, Indonesia vowed to achieve net-zero carbon emissions by 2060, while it is 2050 for the Philippines. To ensure efficient management and profitability of infrastructure, Diokno said the government also eased processes for foreign investors under the Build-Operate-Transfer Law. “To help foster the development of high quality, modern, and sustainable infrastructure in the country, we wasted no time in building a fertile business and investment ecosystem for private players,” Diokno said. The post Gov’t seeks Indon capital appeared first on Daily Tribune......»»
Sell no casino
As a take-off point, let us quote Abraham Lincoln’s words on the legitimate object of government, viz., “It is to do for a community of people whatever they need to have done, but cannot do in their separate and individual capacities.” In the case of privatizing Pagcor down to some 45 casinos, it would appear that the “bargain of government spending” is framed along Adam Smith’s theory — “Give me this which I want and you shall have this which you want.” Privatization simply means removal of responsibilities, activities, or assets from the collective realm, but are there not “risks and rewards when we put public tasks into private hands?” All of a sudden — from out of the blue — this government plan to auction off Pagcor is quite disconcerting unless national survival has become a central concern. Rep. Rufus Rodriguez rightly questions, thus, “Why do we sell the goose that lays the golden egg?” Specially so since the agency’s forthcoming net gains are on the uptrend (i.e., P59 billion in 2022 and an estimated P75 billion by the end of this year). So far, the alibi of government is that by selling its casinos — lock, stock, and barrel — Pagcor’s role as “gaming regulator-cum-operator” becomes purely as regulator. In other words, there is that “revolving door problem” which should be avoided. Even granting that this could be a tenable argument for privatization — though never heard of — what would the backlash be? As far as the role of the Governance Commission for GOCCs is concerned, a public enterprise like Pagcor should only be privatized, if and only if, there’s a “government failure;” when it fails to generate revenues for the state; when it becomes reduced to a “non-performing asset;” when it shows “poor grades” in its Corporate Governance Scorecard. Thus, to privatize Pagcor absent these parameters should be interpreted as “implied contempt for government bureaucracy,” albeit misplaced. The sale of the casinos would fetch about P60 to P80 billion — practically within the same threshold of profit intake for any given year, give or take. In recent weeks, it’s as though the Senate’s over-fixated concerns with Pagcor were the POGOs (Philippine offshore gaming operators) alleged as fronts for human trafficking, kidnapping, other sorts of lawlessness. After privatizing the Pagcor casinos, will all these problems then go away? Bottom line, who in his right mind can say that Pagcor isn’t doing any better given that it contributes half of its revenues to the national coffers (i.e., in taxes) and mandated beneficiaries. It is said to be one of the government’s “staunch allies in nation building” and one of the biggest revenue generators. With the casinos out, who will shoulder the fiscal void created when “funded mandates” shift back to becoming unfunded? As a consequence of privatizing the casinos, there will be a number of national government agencies, local government units, non-government organizations, peoples’ organizations, a number of taxes, duties, licenses, fringe benefits — that taken together would no longer bring a “bundle of joy” to mandated beneficiaries who were allocated such subsidies over the years. The next thing that will ensue is the stark truth that Pagcor would cease to be a “responsible partner of the Filipino” — once privatization cuts the umbilical cord of subsidy dependence. In the next cycle, Pagcor would slide down from third place among GOCCS that remit the highest government contribution. As a rule, no GOCC belonging to so-called “billionaires club” should close shop without more justifiable grounds. In short, it should come last in privatization’s pecking order. There’s clearly no compelling reason to sell off the Pagcor casinos by public auction if the projected proceeds to be generated thereof are practically equivalent to the profit intake of any given year. Again, it escapes comprehension why only a handful of policy makers are against this self-inflicted move. The new pack of most-favored operators will quickly recoup their money without needing to gild the lily. What luck! The post Sell no casino appeared first on Daily Tribune......»»
Contagious pertussis disease continues spreading in Philippines
MANILA, March 28 (Xinhua) -- The contagious pertussis has continued spreading in the Philippines, where it has caused at least 40 death cases, after a province near the capital region reported an outbreak of the disease. In a social media post on Wednesday night, the Cavite government posted a resolution declaring the province under a state of calamity "due to the outbreak of pertussis" after logging 36 cases an.....»»
NBA: Warriors win against Magic despite Green ejection
The Golden State Warriors, fueled by 23 points from Andrew Wiggins and two late baskets by Stephen Curry, beat the Magic 101-93 in Orlando, despite the ejection of Draymond Green just 3 minutes 36 seconds into the contest. Curry was left shaking his head when Green was tossed, receiving two quick technical fouls for heatedly.....»»
Akbayan to Sara: You don’t have to be president to speak vs China
MANILA, Philippines — Party-list group Akbayan said on Thursday that Vice President Sara Duterte does not have to be a president of the country for her to call out China’s intrusive actions over the West Philippine Sea (WPS). Empathy and a moral backbone is just what it takes to stand up with fisherfolk and frontline.....»»
Baltimore bridge accident: Freighter pilot called for tugboat help before plowing into bridge
BALTIMORE — The pilot of the cargo freighter had radioed for tugboat help and reported a power loss minutes before the Baltimore bridge accident, federal safety officials said on Wednesday, citing audio from the ship’s “black box” data recorder. The head of the National Transportation Safety Board also said that Francis Scott Key Bridge, a.....»»
Roque bares Duterte, China agreement to respect status quo in WPS
Roque bares Duterte, China agreement to respect status quo in WPS.....»»