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EDITORIAL — An endangered lake
In January this year, President Marcos directed the Department of Agriculture to increase fish production to meet the national demand......»»
EDITORIAL — The cost of negligence
As of early evening yesterday, the death toll from a vehicular collision in Cotabato stood at 17, with four others needing hospitalization for injuries and severe burns......»»
EDITORIAL — Irresponsible driving
As travel increases this Holy Week, motorists are expressing concern about a road accident this month that penalized an innocent driver. Video footage showed a Toyota Innova traversing the northbound lane of the Skyway Stage 3 on March 10 when a motorcycle moving beyond the speed limit counter-flowed, colliding head-on with the Innova......»»
EDITORIAL — Next, speedy justice
After a year of being on the run, Arnolfo Teves Jr. is finally being brought back to the country to face multiple indictments for serious offenses. Teves was arrested Thursday in East Timor’s capital Dili by local police. He had been hiding in plain sight in Timor-Leste, occasionally posting videos taunting Philippine authorities who wanted him for multiple murder cases......»»
Cebu Pacific receives fuel-efficient A321 aircraft
Gokongwei-led Cebu Pacific continues to ramp up its commitment to advance sustainability and strengthen its operational resiliency amid the rising demand in air travel as it received another Airbus A321neo last Thursday......»»
EDITORIAL — Lights off for one shared home
Since the first Earth Hour was staged in 2007, participation in the event has grown exponentially......»»
EDITORIAL - Under lock and key
The Civil Service Commission has reminded all government officials and employees of the April 30 deadline to submit their sworn Statements of Assets, Liabilities and Net Worth for 2023......»»
TikTok’s ‘Loud Budgeting’ Trend Strikes a Chord in Savings Culture
A new viral TikTok trend might help you save money amidst inflation. #loudbudgeting is currently trending on social media, with nearly 10 million views and growing. So, what exactly is ‘loud budgeting,’ and how do you embrace this trending financial approach? According to a TikToker named Battle, it’s a radical shift in mindset when it […].....»»
Para merry ang lahat : GCash guides Filipinos toward financial success this Christmas
To help Filipinos navigate the potential financial challenges that Christmas planning brings, GCash introduces the 3Ps: three budgeting priorities that the everyday Filipino can keep in mind as soon as their year-end bonuses roll in:.....»»
4 Budgeting Tips to Not Overspend during the Holidays
In the Philippines, Christmas isn’t just a holiday; it’s a cherished season filled with warmth, joy, and a sense of togetherness that transcends the ordinary. As the Yuletide season approaches, the anticipation of celebrations fills the air, and so does the need to spend. From festive decorations to delectable feasts and the exchange of heartfelt […].....»»
Navigating Tough Times: Strategies for Financial Stress and Emotional Well-Being
Life is full of ups and downs. There are times when finances become tight, making budgeting and saving feel unattainable. If you find yourself nodding in agreement, know that you’re not alone. Money matters can be a significant source of stress, impacting not only our wallets but also our mental and emotional well-being. However, it’s […].....»»
Cash versus Credit Cards: A Practical Comparison
The choice between cash and credit cards depends by one’s financial situation and the nature of the purchase at hand. Cash, the traditional mode of payment, entails saving up or budgeting for a purchase, while credit cards offer the flexibility of buying now and settling the bill over time. Both payment methods have their merits […].....»»
Palace: ‘Northrail met standards for abolition, not producing desired outcomes’
Malacañang announced on Saturday that President Ferdinand Marcos Jr. has ordered the abolition of the North Luzon Railways Corp. as it is no longer cost-efficient and producing desired outcomes. The Memorandum Order 17 was signed by Executive Secretary Lucas Bersamin—by the authority of President Marcos—on 19 October. The Governance Commission for GOCCs determined that Northrail has met the standards for abolition for not producing the desired outcomes; no longer achieving the objectives and purposes for which it was designed and created; not being cost-efficient; and not generating the level of social, and physical, and economic returns vis-a-vis the resource inputs. In ordering the abolition, Marcos tasked the Bases Conversion and Development Authority board of directors to act as the administrator and liquidator of Northrail. The BCDA should settle the Northrail liabilities, including the payment of separation incentive pay to affective officials and personnel as well as undertake the necessary steps in liquidating Northrail’s assets and assist in the winding up of its corporate affairs. The BCDA directors shall also conduct an inventory of all of Northrail's existing programs and projects and either terminate or transfer them to concerned government agencies. The inventory also includes the list of Northrail's assets and liabilities and how to dispose of or settle them. The BCDA is also tasked to formulate a Change Management Plan for affected stakeholders of Northrail. It shall likewise conduct an inventory of all pending cases brought by and against Northrail and formulate the appropriate actions to resolve the cases. The original copies of Northrail’s corporate books and account and financial records will be surrendered to the Commission on Audit by the BCDA board of directors. Palace said the Office of the Government Corporate Counsel shall provide the necessary legal assistance to the BCDA in this endeavor. The GCG shall monitor the implementation of the abolition of the Northrail. The Department of Transportation, as the supervising agency of the Northrail, shall continue to oversee the programs and activities relative to liquidation and winding-up of the affairs by the Northrail. Malacañang imposed the separation incentive pay to all effective personnel and officials of Northrail. Those who have rendered 20 years of service may avail of the following separation benefits of 1.00 x Monthly Basic Salary x No. of years. 20 years and 1 day to 30 years: 1.25 x MBS x No. of years 30 years and 1 day and above: 1.50 x MBS x No. of years The separation pay shall be charged against the available corporate funds of Northrail, subject to existing budgeting, accounting, and auditing policies. The Northrail was registered with the Securities and Exchange Commission on 31 July 1995. It was then created as a wholly owned subsidiary of the BCDA to develop, construct, operate, and manage a railroad system to serve Metro Manila, Central Luzon, and Northern Luzon. In 2015, the National Economic and Development Authority Board approved the North-South Commuter Railway Project, which was financed through official development assistance from Japan, effectively rendering the Northrail project terminated. The GCG ordered the “deactivation” of the Northrail, through Memorandum Order No. 2019-05 on 20 May 2019. The post Palace: ‘Northrail met standards for abolition, not producing desired outcomes’ appeared first on Daily Tribune......»»
Managing Your Money the Simple Way: The 50/30/20 Rule
Money can sometimes feel like a puzzle, but we’ve got an easy solution to help you manage your finances, and it’s the “50/30/20 rule”. It’s a straightforward budgeting plan that anyone can follow. What’s the 50/30/20 Rule? The main goal of the 50/30/20 rule is to divide your money into portions, take your income, and […].....»»
Republican hardliners oust US House speaker in historic vote
Kevin McCarthy was axed Tuesday as speaker of the US House of Representatives in a brutal, historic rebellion by far-right Republicans furious at his cooperation with Democrats. The maneuver laid bare the chaotic levels of infighting among Republicans heading to the 2024 presidential election almost certainly led by Donald Trump, who is making history of his own as the first former or serving president to be the target of multiple criminal indictments. The first ouster of a speaker in the House's 234-year history was supported by only a handful of right-wing Republican hardliners. However, the House was almost evenly divided and with Democrats joining eight rebel Republicans rather than riding to McCarthy's rescue, he had no way to survive. The 58-year-old former entrepreneur -- who did not comment as he left the chamber -- had sparked fury among conservatives when he passed a bipartisan stopgap funding measure at the weekend backed by the White House to avert a government shutdown. Florida conservative Matt Gaetz, who forced the removal vote, gambled that he could oust McCarthy with just a few Republicans, helped by Democrats loath to bail out a speaker who only recently opened a highly politicized impeachment inquiry into President Joe Biden. Republicans were warned by their leadership about plunging the party "into chaos" but Gaetz, who has repeatedly complained about McCarthy failing to honor agreements made with conservatives, retorted: "Chaos is Speaker McCarthy." "The reason Kevin McCarthy went down today is because nobody trusts Kevin McCarthy," he added after the vote. "Kevin McCarthy has made multiple contradictory promises, and when they all came due, he lost." Democrats, too, had no love for McCarthy, pointing to his decision to renege on a deal with Biden on spending limits agreed earlier this year in high-stakes talks over the federal budget. Biden issued a statement through his press secretary after McCarthy's overthrow urging the House to quickly choose a replacement, arguing that the urgent challenges facing the country "will not wait." 'Pigsty of incompetence' The New Democrat Coalition, a bloc of pro-business Democratic lawmakers, described McCarthy as "simply not trustworthy." And Congressional Progressive Caucus chairwoman Pramila Jayapal, a leading leftist, vowed to let Republicans "wallow in their pigsty of incompetence" rather than rescue McCarthy. The tussle came just days after the House and Senate passed a measure to avert a costly government shutdown -- both with big bipartisan majorities -- by extending federal funding through mid-November. Conservatives were furious, seeing their chances dashed by forcing massive budget cuts. They accused McCarthy of a flip-flop, saying he'd promised an end to hastily prepared stopgap legislation, hammered out with the support of the opposition, and a return to budgeting through the committee process. The writing was on the wall after Democratic House Minority Leader Hakeem Jeffries encouraged his members to oust McCarthy. Every Democrat then joined 11 rebel Republicans to reject a preliminary motion that would have blocked the final ouster vote. With McCarthy out, a temporary speaker put the House into recess until a permanent replacement is elected. Republicans will gather at 6:30 pm (2230 GMT) to discuss putting up a candidate for a vote to be the new speaker -- and it is not out of the question that McCarthy could be nominated for a return to the role he just lost. It took 15 rounds of balloting for the Californian to win the gavel in January, but the fight demonstrated that he has the support of most of the party, and he could try to persuade the rank-and-file to rally behind him once more. Alternatively, he may bow out. This could set up a showdown among his lieutenants -- most likely House Majority Leader Steve Scalise and House Majority Whip Tom Emmer. But Republican hopefuls may shy from taking on what looks like a poisoned chalice in which the hard-right faction will continue to exercise control from the sidelines. Trump -- who is facing 91 felony indictments and was in court Tuesday in New York as a defendant in a civil fraud trial -- berated Republicans on his social media platform for "always fighting among themselves." Tellingly, though, he offered no support for McCarthy. The post Republican hardliners oust US House speaker in historic vote appeared first on Daily Tribune......»»
Budgetary leverage
By passing a financing bill at the last minute, the United States Congress avoided a federal government shutdown this week. However, the Biden administration’s top priorities, including defense financing for Ukraine, were left out of the final package. For countries like the Philippines, which has cozied up anew to Uncle Sam, this is cause for concern because America has practically left Ukraine high and dry without the full backing it needs to defend itself against Russia. Okay, so Biden said they “will not walk out of Ukraine.” Still, without funding, that’s just lip service. Having perfected the art of emotional suasion at one end of the pole and brinkmanship on the other, we would not be surprised if Ukraine President Volodymyr Zelensky would tell Biden: “Show us the money.” Sacrificing Ukraine casts doubt on America’s dependability as a coalition partner and ally, even as it stakes a claim to a long tradition of backing democracies in their fight for independence. The Philippines should take note. In the US, it’s clear that whatever the executive branch pledges, the US Congress can always override or, as made apparent again now, starve of funding. That’s the power of holding the purse string that could certainly affect America the mighty’s projection of power. From propping up South Vietnam with billions of dollars in war materiel only to leave Saigon in a huff — with choppers flying off the rooftop of the US Embassy in a hasty, humiliating retreat in 1975 — to giving substantial aid to Israel and Middle Eastern countries, the US has not stopped its posturing as the “policeman of the world.” As in Vietnam and Afghanistan, where in the latter it also abruptly pulled out its forces, thereby allowing the Taliban to retake the country in 2021, the US, for all its fire-and-brimstone statements at the start of the Ukraine-Russia war, may have turned its back on its legal and moral responsibility to aid Kyiv. As an adversarial state under madman Vladimir Putin, Russia has been destabilizing international norms, and Ukraine, by fighting back, has been sending the strong message that autocratic governments cannot make the globe their playground. By not including money for Ukraine’s defense in the 2024 spending bill, the US has lost the chance to demonstrate its dedication to the defense of democracy. But such are the vagaries of the budgeting process in the United States and, of course, the Philippines, with the latter’s form of government and jurisprudence loosely patterned after America’s. In the US, government shutdowns have happened before and will happen again when the legislature and the executive branches are unable to reach an agreement on priorities and lawmakers do not enact a budget in a timely manner. The budget can also be wielded as a political baton with which to make the executive branch more malleable. An example would be the 2013 shutdown in an attempt to defund the Affordable Care Act. Frequent disagreements on spending priorities between the two parties in the US Congress have led to stalemates, with neither side willing to pass the budget unless their demands were met. Budget delays had caused negative effects on the economy and public services. Some may argue that past shutdowns of the US federal government would show the Philippines has a more mature budgetary system in place, as a failure to pass the budget for a new fiscal year only results in a reenacted budget. But the problems associated with a reenacted budget abound. There’s the delayed implementation of new programs and projects. This, as a reenacted budget only allows for the funding of existing programs and projects. A reenacted budget also limits government flexibility to respond to changing needs. For example, if the economy experiences a downturn, the government may need to increase spending on social programs or infrastructure projects. However, this is not possible under a reenacted budget. But probably the biggest risk associated with a reenacted budget would be corruption, as it can give the executive branch more leeway or elbow room to fund projects while reallocating “savings” from projects that had been funded previously. In the shadow of budgetary bludgeoning and political brinkmanship, the recent passage of the US funding bill left Ukraine’s defense hanging by a thread, a stark reminder of the capriciousness of budgeting processes in both the United States and the Philippines, where legislative complexities often take precedence over strategic imperatives. The budget’s power to shape policy and dictate priorities, as seen in the Philippines with past reenacted budgets, illustrates the pitfalls of wielding fiscal levers as political weapons. In both nations, the budgeting process, while designed to reflect the will of the people, is susceptible to political posturing, causing disruptions and imperiling the very ideals of democracy it should be upholding. The post Budgetary leverage appeared first on Daily Tribune......»»
JV dismayed by DHSUD outlay cut
Senator Joseph Victor “JV” Ejercito yesterday expressed disappointment over what he described as the meager allocation of P5.4 billion for the Department of Human Settlements and Urban Development for 2024. Ejercito, the author of Republic Act 11201 that created the DHSUD, called for the prioritization of the government’s housing program to address the country’s backlog of dwellings. “It’s really sad that it (DHSUD) is receiving a measly budget of P5.4 billion,” said Ejercito during the Senate deliberations on the department’s proposed budget under the 2024 National Expenditure Program. “Listening earlier, when it’s P1 billion or P2 billion, they can only do about 2,000 (housing) units considering the (construction) costs right now and how it goes up quickly,” the senator said. He said he considers housing and the creation of the DHSUD his “baby,” so he must guard its implementation and budgeting. Ejercito recalled that during the drafting of the DHSUD law, the country’s housing backlog was only two million, but it has since ballooned to more than six million. DHSUD Secretary Jose Rizalino Acuzar had told the Senate that they were doing what they could to maximize the budget allocated to them through the “innovative” financing scheme that the government’s “Pambansang Pabahay para sa Pilipino” or 4PH Program had adopted. He pointed out that the 4PH was also tapping the private sector to actively participate in the program. “In previous strategies, P36 billion could only generate 36,000 units. With the new program, P36 billion can produce one million houses,” he said, referring to the partnership that the 4PH offers to the private sector as developers and contractors. The P36 billion is the intended interest support for one million housing units. In response, Ejercito backed the 4PH vision of bridging the country’s housing gap with Secretary Acuzar at the helm. “Like I said before, I think we need somebody like Secretary Acuzar who thinks outside the box because if we’ll just follow the old system, the previous program, the backlog just keeps getting bigger,” Ejercito said. The DHSUD had proposed a budget of P116 billion for fiscal year 2024, but the NEP submitted by the Department of Budget and Management reflected only P5.4 billion. The DBM is proposing to increase the budget to P13.86 billion. “Be rest assured that we will definitely support (the increase), and that’s our target really,” Ejercito said. The post JV dismayed by DHSUD outlay cut appeared first on Daily Tribune......»»
Seminar on financial, operational budgeting
Budgeting plays a very critical role in the planning-budgeting-execution cycle. After building your strategic and operational plans, it is a must to link these strategies with the budget......»»
CAAP holds GAD planning forum
The Civil Aviation Authority of the Philippines held a workshop on GAD Strategic Planning and 2024 GAD Budget Planning from 16 to 19 August 2023 at the Plaza Lodge Hotel. The workshop was attended by CAAP staff from all over the country who learned about the basic concepts of GAD strategic planning, GAD planning and budgeting, and gender analysis principles. They also developed the CAAP GAD Agenda and the 2023–2028 Strategic Plan as they proposed creative programs and projects that would promote gender equality and women’s empowerment within the agency. Following the workshop, CAAP paid a courtesy call to representatives of the Philippine Military Academy at their headquarters at Fort Del Pilar, Baguio City. The meeting’s main goal was to improve communication and cooperation between the CAAP and the military, especially the Philippine Air Force. The post CAAP holds GAD planning forum appeared first on Daily Tribune......»»
DBM mulls change in procurement process
The Department of Budget and Management released its plans to change the government procurement process on Tuesday to allow the agencies to purchase some goods and services straight from suppliers without public bidding. During the Malacañang Press Briefing, DBM officials said one of the suggested amendments is the creation of an e-marketplace similar to the online shopping apps that would allow government agencies to buy goods and services from qualified merchants. Other amendments to Republic Act 9184 or the Government Procurement Reform Act are also divided into six items. Pangandaman said these items include: Innovative procurement methods, efficiency in the process, procurement planning and budgeting, digitalization and innovation, green procurement, and miscellaneous provisions. DBM officials added that the government aims to amend the bidding process for small items since government agencies can buy directly from businesses as long as they are legal, technically and financially sound. They pointed out that DBM also wants to fully implement the Most Economically Advantageous Tender, which the government uses only to buy services. “This will promote efficiency because the things that should be submitted for competitive bidding will no longer be done that way. Instead, the procuring entity will establish its own technical requirements and then collaborate with the suitable market operator to supply the goods,” DBM Undersecretary Dennis Santiago said. Santiago said the government always aims for the lowest and cheapest items under the Lowest Calculated Response Bid. However, he noted that the quality is not always good. Hence, they are looking at an area wherein the government can advance this and improve the evaluation methodology. “Now we will apply it to goods and even infra where we use percentages. There’s a certain percentage for the technical aspect, there’s a certain percentage for the financial aspect, and you put them together, you have the highest-rated bid, the most economically advantageous tender,” Santiago added. When asked about the threshold, Santiago said that the DBM is considering P250,000 as the minimum amount for goods and services that don’t need to be bid on but that Congress still needs to decide about it. For context, DBM presented the proposed amendments to President Ferdinand Marcos Jr. after the Chief Executive for a New Government Procurement Law during his second State of the Nation Address last month. Budget Secretary Amenah Pangandaman, who was also during the briefing, said Marcos agreed with the amendments, except for several items. “We need to understand that he worked from a local government unit, so he understands the procurement process. As a result, he mentioned the challenges faced by entities like LGUs and government personnel when they procure,” Pangandaman said. “We’ll have to write the specific amendments per provision; just maybe give us two weeks. Technical writing is required for this task,” she added. The post DBM mulls change in procurement process appeared first on Daily Tribune......»»