We are sorry, the requested page does not exist
Nuke developers call to set competitive playing field
Government regulators are now urged to prioritize the establishment of a level-playing field to entice developers to pour in massive capital for the development and integration of nuclear power into the country's electricity grid. During the second nuclear energy roundtable talks between the Philippines and Canada on Tuesday, Felino Bernardo, chief operating officer of Aboitiz Power Corp.'s Thermal Business Group, emphasized the need for well-coordinated industry policies to help kick off local nuclear adoption. "I think it will start with the amendment or the passing of laws in the Lower House. Once done, it requires setting up the regulatory body, and for that regulatory body to build its capability and come up with regulations, policies, and guidelines for us developers to follow," Bernardo said. "The DoE (Department of Energy) has to come up with the right signal for developers to come up with their plans to make sure that we build accordingly," he added. Coordinated deals Bernardo noted that nuclear power plants, whose operations can last as long as 80 years, require a different set of policies for power deal contracts. "That is quite different from what we have now. The current CSP (Competitive Selection Process) policies are only for 15 years. Now, nuclear power plants can live as long as 40, 60 years, and some probably 80, so you have to match the two," he explained. According to Bernardo, nuclear power, particularly the small modular reactors, "have a place in our economy because we need all of them and we will need a lot of them." He, however, noted that developers need to make sure that they can deliver nuclear power safely. Aboitiz Power Corp., the holding company for energy-related investments of the Aboitiz Group, previously announced its exploratory discussion with Ultra Safe Nuclear Corp., an American firm that can potentially help the company’s local nuclear energy development. The forum yesterday served as a platform for industry experts, policymakers, and leaders to collectively deliberate on the significant questions and concerns related to the transition to nuclear energy. It covered the determining mechanisms for transition financing, assessing the commercial viability of nuclear energy, and exploring the potential for retrofitting and upgrading existing plants to be nuclear-capable. Congress support Meanwhile, Energy Secretary Raphael Perpetuo Lotilla reiterated that the government would need the support of Congress in ratifying a law that would help jumpstart nuclear development. Pending the law, Lotilla pointed out that the DoE and all other concerned government agencies are actively looking out for possible sites where a nuclear power plant can be built. To recall, the House Nuclear Energy Committee approved a consolidated substitute bill last March that seeks to comprehensive atomic regulatory framework and establish the Philippine Atomic Regulatory Commission. Since the government is prohibited from taking on power generation endeavors, the DoE has also tapped the National Economic and Development Authority to work on the private sector’s participation in nuclear development. The post Nuke developers call to set competitive playing field appeared first on Daily Tribune......»»
Go wants update of indigent seniors list
Senator Christopher “Bong” Go emphasized the need to update the list of indigent senior citizens, in accordance with Republic Act 11916. The said law also mandates an increase in the pension of indigent senior citizens from P500 to P1,000. RA 11916 or an Act Increasing the Social Pension of Indigent Senior Citizens amended RA 7432, the first Senior Citizens Act. The law was co-authored by Go in the Senate. “This amendment is a step forward in ensuring a better quality of life for our senior citizens. It’s crucial that we provide them with the necessary support to live comfortably,” Go said. Go then cited Section 6 of RA 11916 which mandates the Department of Social Welfare and Development, transitioning later to the National Council for Senior Citizens, to annually update and validate the beneficiary list with the aid of the Philippine Statistics Authority and the local government units. He expressed his concern regarding the need to urgently update the list of beneficiaries, as the number of indigent seniors may have increased over time. “It’s imperative that we review and promptly update the list of beneficiaries to ensure that the aid reaches the senior citizens who are truly qualified to benefit from the law,” Go remarked. Go co-authored and co-sponsored Senate Bill 2028, which was principally sponsored by Senator Imee Marcos. The bill aims to provide additional support to individuals who have reached the age of 80 and 90 years old. This proposal amends the Centenarian Act of 2016, acknowledging that not everyone reaches the milestone of a century. In another development, the senator, upon the invitation of the British group Interparliament Union, joined Senate President Juan Miguel Zubiri and Senator Grace Poe as they represented the Philippine Senate during an official visit to the United Kingdom from October 16 to 18. The post Go wants update of indigent seniors list appeared first on Daily Tribune......»»
Bong Go calls on DSWD, concerned agencies to update list of indigent senior citizens
Senator Christopher "Bong" Go emphasized the need to update the list of indigent senior citizens, in accordance with Republic Act No. 11916. The said law also mandates an increase in the pension of indigent senior citizens -- from PHP500 to PHP1,000. RA 11916 or an Act Increasing the Social Pension of Indigent Senior Citizens amended RA 7432, the first Senior Citizens Act. The law was co-authored by Go in the Senate. “This amendment is a step forward in ensuring a better quality of life for our senior citizens. It's crucial that we provide them with the necessary support to live comfortably,” Go said. “Nandiyan na ang batas. Dapat maimplementa ito ng maayos para mapakinabangan ng taumbayan lalo na ng mga matatanda na sakop ng batas na ito. Ibigay dapat ang nararapat sa kanila at huwag patagalin pa,” he stressed. Go then cited Section 6 of RA 11916 which mandates the Department of Social Welfare and Development (DSWD), transitioning later to the National Council for Senior Citizens (NCSC), to annually update and validate the beneficiary list with the aid of the Philippine Statistics Authority (PSA) and the local government units. Go expressed his concern regarding the need to urgently update the list of beneficiaries, as the number of indigent seniors may have increased over time. "It's imperative that we review and promptly update the list of beneficiaries to ensure that the aid reaches the senior citizens who are truly qualified to benefit from the law," Go remarked. Go also co-authored and co-sponsored Senate Bill No. (SBN) 2028, which was principally sponsored by Senator Imee Marcos. The bill aims to provide additional support to individuals who have reached the age of 80 and 90 years old. This proposal amends the Centenarian Act of 2016, acknowledging that not everyone reaches the milestone of a century. He emphasized the cultural significance of caring for the elderly in the country and highlighted the importance of providing them with financial support while they can still benefit from and enjoy it. “Nasa kultura na nating mga Pilipino na alagaan ang ating mga nakakatanda. Dapat natin silang suportahan at bigyan ng pagkilala. Habang kaya pang pakinabangan at ma-enjoy ng senior citizen ang cash gift, ibigay na natin sa kanila,” said Go. Just recently, the Office of Senator Go, together with United Senior Citizens Partylist Rep. Milagros Aquino-Magsaysay, the Office of Senator Robin Padilla, and volunteer organizations, spearheaded an activity for senior citizens on Monday, October 16, during the United Senior Citizens Association-Quezon City (USCAQC) General Assembly held at White Twins Court, Quezon Memorial Circle in Quezon City. Around 1,000 attendees were provided with essential goods from Senator Go such as grocery packs, snacks, and shirts while a select recipient likewise received a cellular phone. The participants were also given various forms of assistance from the participating offices to promote the welfare of the elderly. Meanwhile, Go urged senior citizens to utilize the services of Malasakit Centers for medical assistance they might need. Initiated by Go in 2018, the Malasakit Centers program was institutionalized under the Malasakit Centers Act of 2019, which he principally authored and sponsored. There are now 159 Malasakit Centers nationwide that have helped more than seven million Filipinos. “Prioritizing the needs of the underprivileged, especially senior citizens, in public service delivery is paramount. Rest assured, I will continue to support programs aimed at improving the lives of the elderly,” concluded Go. The post Bong Go calls on DSWD, concerned agencies to update list of indigent senior citizens appeared first on Daily Tribune......»»
Magna carta for seafarers certified as urgent welcomed
Senators welcomed the move of President Ferdinand Marcos Jr. to certify as urgent a proposed measure crafting a Magna Carta for seafarers. Senator Raffy Tulfo, the sponsor of Senate Bill 2221 otherwise known as the Magna Carta of Filipino Seafarers, said the passage of the proposed measure will promote the welfare and continuous employment of seafarers on board foreign-owned vessels. "I am very happy that we have passed the first phase of the period of amendments for the Magna Carta of Filipino Seafarers bill yesterday (25 Sept), which coincides with the celebration of the National Maritime Week,” he said. In a letter to Senate President Juan Miguel Zubiri dated 25 September, Marcos emphasized the need for the immediate enactment of SB 2221 to address "recurring deficiencies in our domestic laws pertaining to the training and accreditation of thousands of Filipino seafarers.” Tulfo expressed confidence that the bill will soon be passed into law. "Matapos ang unang stage ng period of amendment at ang suportang ito mula mismo kay Pangulong BBM, mas tiwala ako na mapapabilis ang pagsasabatas ng Magna Carta of Filipino Seafarers bill," he said, as he rallied for the need to address shortcomings in the education and certification of Filipino mariners. Among other lawmakers who filed their versions of the Magna Carta of Filipino Seafarers include Senators Joel Villanueva, Risa Hontiveros, Bato dela Rosa, Jinggoy Estrada, Robinhood Padilla, Cynthia Villar, Sonny Angara, Grace Poe, Win Gatchalian, Bong Revilla, Christopher Bong Go, Mark Villar, Loren Legarda, and Zubiri. Go, vice chairman of the Senate Committee on Migrant Workers earlier cited the significant role of Filipino seafarers in global trade and marine transportation. He noted the industry’s huge contribution of all overseas Filipino workers to the country's economy. Go said the Philippines has been the primary source of maritime labor and considered the manning capital of seafarers globally since 1987. Of the 1.5 million mariners worldwide, 25 percent are Filipino sea-based workers, making them the single biggest nationality bloc in the maritime industry, he added. Hence, the passage of a proposed Magna Carta for the Seafarer must be crucial “for protecting the rights and welfare of seafarers in situations where they are vulnerable or exploited, such as during emergencies, accidents, or conflicts,” said Go. The post Magna carta for seafarers certified as urgent welcomed appeared first on Daily Tribune......»»
UK report exposes high number of anonymous property owners
Over two-thirds of properties in the UK held by overseas shell companies still do not publish information about the identity of their owners, according to new research. The report by researchers at the LSE, the University of Warwick and the Centre for Public Data found that law enforcement agencies did not even know the true identities of the owners of 35 percent of the properties. The UK government has previously committed itself to cracking down on anonymous ownership of UK property. Parliament was on Monday due to consider amendments to the Economic Crime Bill, aimed at closing some loopholes, but the LSE said Prime Minister Rishi Sunak's Conservative government was opposing this. "We still don't know who really owns tens of thousands of properties in the UK. The government should act to close these loopholes," said Anna Powell-Smith, director of the Centre for Public Data. The report said the identity of owners was hidden in the cases of 109,000 out of 152,000 properties (over 70 percent) held via overseas companies. The main reason for "missing or inaccessible information" was the use of trusts, accounting for 63 percent, it said. The report also highlighted how shortcomings in the register of owners of UK companies -– known as the PSC register -– could also be allowing corrupt practices. At present, nominees and trustees owning shares are not required to tell UK authorities who they are acting for. The government is opposing an amendment that would bring transparency to these arrangements, the LSE added. "The striking thing is that most of the problems with the register are self-inflicted," said Cesar Poux, research officer at LSE's International Inequalities Institute. "There certainly is some rule-breaking, but most of the problems are because the legislation is flawed." The post UK report exposes high number of anonymous property owners appeared first on Daily Tribune......»»
Wnanga receives landmark recognition with passing of the Education and Training Amendment Bill
Today marks a historic change for Mori tertiary institutions, with Wnanga able to self-determine how they operate for the first time. Wnanga will now be able to choose to remain a bespoke Crown entity Wnanga or convert to a non-Crown entity Wnanga in which they will be accountable to iwi, hap or another Mori organisation whi.....»»
Davao co-op hits expansion bills
Northern Davao Electric Cooperative or NORDECO blasted the proposed House Bills 5077, 6740, 6995 and 7047, all seeking to expand the franchise area of Davao Light and Power Company Inc. as a possible source of a “constitutional crisis.” In a press statement on Tuesday, NORDECO legal counsel Atty. Jeorge Rapista lamented that these four bills, if passed into law, might substantially amend the existing franchises of electricity distributors in Mindanao, including the one it is maintaining. “The constitution does not allow laws that impair contracts. With HBs 5077, 6740, 6995 and 7047, existing contracts of NORDECO will be substantially impaired. For example, power supply contracts will be servicing a much smaller franchise area,” Rapista explained. The bills were recently deliberated upon by lawmakers on the possible violation of the Constitution and Republic Act 9136 or the Electric Power Industry Reform Act of 2001. As such, instead of a franchise area amendment that may adversely affect the industry, some policymakers recently pointed out that what Mindanao needed is a measure to help improve the services of the island’s power distributors. Congressmen APEC Partylist Rep. Sergio Dagooc and PHILRECA Partylist Rep. Presley de Jesus, at a recent hearing, proposed that the House should work on creating measures that will protect the existing contracts of electric cooperatives. Project areas reviewed Likewise, they agreed that policymakers should adopt a bill instituting proper administrative processes to review franchise areas. It can be recalled that in July 2022, President Ferdinand “Bongbong” Marcos Jr., vetoed the bill proposing to expand the franchise of the Davao Light “due to, among others, its susceptibility to infringe on the franchise coverage area of the NORDECO.” NORDECO currently serves most of the municipalities and cities that were proposed to be transferred to Davao Light. Meanwhile, Davao Light’s franchise area covers Davao City, areas of Panabo City, and the municipalities of Carmen, Dujali and Santo Tomas in Davao del Norte. MBr The post Davao co-op hits expansion bills appeared first on Daily Tribune......»»
Davao power coop hits pending franchise change
Northern Davao Electric Cooperative or NORDECO has warned that proposed House Bill Nos. 5077, 6740, 6995, and 7047 — all seeking to expand the franchise area of Davao Light and Power Company, Inc. — might trigger a “constitutional crisis” that may be detrimental to end-users. NORDECO legal counsel Atty. Jeorge Rapista lamented that these four bills, if passed into law, might substantially amend the existing franchise rules in Mindanao, including the one it is maintaining. “The Constitution does not allow laws that impair contracts. With HBs 5077, 6740, 6995, and 7047, existing contracts of NORDECO will be substantially impaired. For example, power supply contracts will be servicing a much smaller franchise area,” Rapista said in a press statement on Tuesday. The bills were recently deliberated upon by lawmakers for their alleged violations of the Constitution and the Republic Act 9136 or the Electric Power Industry Reform Act of 2001. As such, instead of a franchise area amendment that may adversely affect the industry landscape, some policymakers recently pointed out that what Mindanao needs is a measure to help improve the services of the island’s power distributors. APEC Partylist Rep. Sergio Dagooc and PHILRECA Partylist Rep. Presley De Jesus, at a recent hearing, proposed that the House should work on creating measures that will protect the existing contracts of electric cooperatives. Likewise, they agreed that policymakers should adopt a bill instituting proper administrative processes to review said franchise areas. In July 2022, President Ferdinand Marcos Jr., vetoed the bill proposing to expand the franchise of the Davao Light “due to, among others, its susceptibility to infringe on the franchise coverage area of the NORDECO.” NORDECO currently serves most of the municipalities and cities that were proposed to be transferred to Davao Light. Meanwhile, Davao Light’s franchise area covers Davao City, areas of Panabo City, and the municipalities of Carmen, Dujali and Santo Tomas in Davao del Norte. The post Davao power coop hits pending franchise change appeared first on Daily Tribune......»»
Israel parliament clips Supreme Court powers
Israel’s parliament defied a tense session, pressure from thousands of demonstrators and boycott by opposition lawmakers to pass a controversial bill limiting the powers of the Supreme Court on Monday. Prime Minister Benjamin Netanyahu and his coalition allies approved the bill with 64 votes in the 120-seat chamber. The vote took place hours after Netanyahu, 73, returned to the Knesset only a day after undergoing surgery to have a pacemaker fitted. The premier justified the decision to press ahead with the vote as a “necessary democratic step.” “We passed the amendment on reasonableness so that the elected government can carry out policy in line with the decision of the majority of the citizens of the country,” he said in a televised address. Critics charge that the judicial revamp limiting the powers of the High Court in striking down government decisions which the judges deem “unreasonable,” could open the way to more authoritarian government by removing checks and balances on the Israeli executive. Netanyahu’s coalition government, which includes far-right and ultra-Orthodox Jewish parties, argues that the proposed changes are needed to ensure a better balance of power. Division among Israelis remain as the Histadrut trade union confederation threatened a nationwide strike in response to the passage of the bill, urging the government to resume negotiations with the opposition. “Any unilateral progress of the reform will have serious consequences,” Histadrut chairman Arnon Bar-David warned in a statement. A walkout staged by Histadrut in March within hours prompted Netanyahu to halt the legislative process, paving the way for cross-party talks which ultimately collapsed. Rallies continued into the evening on Monday in Jerusalem and Tel Aviv, the country’s commercial hub, while demonstrators blocked roads. Police used water cannon and mounted officers were deployed against the crowds. with AFP The post Israel parliament clips Supreme Court powers appeared first on Daily Tribune......»»
UNITED AND PRODUCTIVE House of Representatives
Given its record harvest of legislation, the House of Representatives under the leadership of Speaker Ferdinand Martin G. Romualdez concluded the First Regular Session of the 19th Congress on a high note. Ferdinand Martin G. Romualdez Speaker - 19th Congress, House of Representatives First Regular Session Legislative Accomplishments BILLS PASSED BY THE HOUSE OF REPRESENTATIVES LEDAC Priority Bills: SIM Registration Act (RA 11934) Postponement of Barangay and SK Elections to October 2023 (RA 11935) Amending the Fixed Term of the AFP Chief of Staff and other High-Ranking Officials (RA 11939) Agrarian Reform Debts Condonation (RA 11953) Maharlika Investment Fund (RA 11954) Magna Carta of Seafarers E-Governance Act / E-Government Act Negros Island Region Virology Institute of the Philippines Passive Income and Financial Intermediary Taxation Act National Disease Prevention Management Authority or Center for Disease Control and Prevention Medical Reserve Corps Philippine Passport Act Internet Transaction Act / E-Commerce Law Waste-to-Energy Bill Free Legal Assistance for Police and Soldiers Apprenticeship Act Build-Operate-Transfer (BOT) Law Magna Carta of Barangay Health Workers Valuation Reform Eastern Visayas Development Authority Leyte Ecological Industrial Zone Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery National Citizens Service Training Program Rightsizing the National Government National Land Use Act 30-Year National Infrastructure Program Department of Health Specialty Centers Act/Regional Specialty Hospitals Ease of Paying Taxes Local Government Unit Income Classification Amendment to Universal Health Care Act Bureau of Immigration Modernization Act Philippine Salt Industry Development Act Social Impact Bills: HB 5001 - No exam fees in private HEIs for underprivileged students who rank in the top 10 in high school HB 00005 - On-site, in-city, near city, and off-city resettlement program based on people's plan HB 0227 - Protection and welfare of caregivers HB 00988 - Increasing service incentive leave HB 00454 - Enhanced protection, security, and benefits for media workers HB 4477 - Greater responsibility and accountability from private employment agencies, amending Batas Kasambahay HB 04479 - Expanding prohibited acts of discrimination against women on account of sex, amending Labor Code HB 06416 - Strengthening mental health services of state universities and colleges HB 06483 - Abolition of "no permit, no exam" practice in college HB 06509 - Free legal assistance to uniformed personnel for the performance of duty HB 06492 - Freedom of Religion Act HB 00206 - Lowering the optional retirement age of government workers from 60 to 56 HB 06574 - Promotion and delivery of mental health services in basic education HB 06572 - Establishment of public schools of the future in technology HB 06680 - Free full insurance coverage to all qualified agrarian reform beneficiaries HB 01270 - Protection and promotion of the welfare of workers in the film, television, and radio entertainment industry HB 06716 - Mandating the establishment of fisherfolk resettlement areas HB 06718 - Protection and incentives for freelance workers HB 07354 - Evacuation centers in every city and municipality HB 04605 - Right of married women to retain their maiden surnames HB 06772 - Presidential power to suspend or adjust PhilHealth premium increases HB 07387 - Expanding the services for crop insurance HB 07535 - P1 million for centenarians HB 07561 - Mandatory insurance coverage and benefits for all line workers HB 07584 - Abolition of "no permit, no exam" in elementary and secondary classes HB 07909 - Extension of estate tax amnesty HB 07718 - Strengthening the law against illegal recruitment Quote (SFMGR): “As the House of Representatives amply demonstrated, we remain committed to implementing policies that will further stimulate economic activity, attract investments, and generate employment opportunities for our fellow Filipinos. We will not allow any distraction to derail our efforts at finding appropriate and timely solutions to the problems affecting the lives of our people.” House Leaders: Senior Deputy Speaker Aurelio "Dong" D. Puno Deputy Speakers: Gloria Macapagal-Arroyo Isidro T. Ungab Roberto V. Puno Camille A. Villar Kristine Singson-Meehan Raymond Democrito C. Mendoza Ralph G. Recto Vincent Franco "Duke" D. Frasco Majority Leader Manuel Jose "Mannix" M. Dalipe Minority Leader Marcelino C. Libanan Senior Deputy Majority Leader Ferdinand Alexander "Sandro" A. Marcos The post UNITED AND PRODUCTIVE House of Representatives appeared first on Daily Tribune......»»
Zubiri admits ‘honest oversight’ over disputed sections in MIF, denies tampering
Senate President Juan Miguel “Migz” Zubiri on Thursday denied the allegation of tampering with the enrolled copy of the controversial Maharlika Investment Fund bill. “First of all, there is no such thing as tampering. There was never a plan to tamper. There was no sinister move to tamper, [and] there was no tampering that took place,” Zubiri told reporters at the Kapihan sa Senado. “We just want to put on record that we just reflected the true intention, let me repeat, the true intention of the provisions as reflected in the transcript of records,” he added. He continued: “The enrolled bill – which I signed in Washington D.C. – is the truthful reflection of the intent of the members of Congress. That is the intent of the majority.” Zubiri, who has returned from a three-week official trip to the United States, responded to the allegations made by Senate Minority Leader Aquilino “Koko” Pimentel III. Last week, Pimentel, a staunch critic of the measure, said the enrolled Maharlika bill has been “tampered” without proper plenary authority, stressing that it raises serious questions about the constitutionality of the bill. “The enrolled bill being sent to the President is not the version properly and formally approved by Congress. There was a provision that they fixed without plenary authority,” he said. “The revisions made were not just a matter of style. It showed a flagrant violation of our rules and the Constitution,” he added. The lawmaker is referring to the different terms and prescriptive periods found in Sections 50 and 51 of the MIF bill. In the approved version of the MIF bill, Section 50 prescribes 10 years for the prosecution of crimes and offenses, while Section 51 provides 20 years. According to Zubiri, the “erring” provision in the measure was an “honest oversight” on the part of the Senate secretariat. “Maybe because it was already morning that time, that’s the last day of work. It was an honest oversight of our secretariat,” he said. After learning the contrasting provisions in the measure, Zubiri said, Senator Mark Villar, author, and sponsor of the Maharlika bill, sent him a letter to merge the two provisions and retain the 10-year period. Based on the excerpts from the Transcript of Stenographic Notes during the Senate plenary discussion on the Maharlika bill on 31 May -- distributed by the Senate leader -- Villar refused to accept the amendment of Senator Risa Hontiveros to add a new section that would prescribe a 20-year period. Zubiri also noted that the meeting between senators and members of the House of Representatives on 31 May was “not an official bicam” or bicameral conference committee. ‘Pending on House’ The Senate chief said that the Maharlika bill is now pending in the House of Representatives for Speaker Martin Romualdez’s approval. He noted that Romualdez may sign the enrolled copy of the Maharlika bill next week. “It just came back this week. It would be signed soon. The Speaker is committed to signing it,” he said. After the approval of the Speaker of the bill, Congress would then transmit it to Malacanang for the president’s approval. The post Zubiri admits ‘honest oversight’ over disputed sections in MIF, denies tampering appeared first on Daily Tribune......»»
Ignore loose cannons
Filibusters, obstructionists, and rabble-rousers have indicated plans to gang up on the Maharlika Investment Fund bill once President Ferdinand “Bongbong” Marcos Jr. signs it into law by challenging the measure before the Supreme Court. A left-wing party list said it “will definitely” challenge it by questioning the constitutionality of the MIF bill, on the grounds that it was rushed. The sourgraping group will be joined by the discredited oppositionist in the Senate who was absent during the vote on the bill as he took a recess a day earlier than his colleagues. The group termed the urgent certification by Malacañang of the bill as an “abuse of presidential certification of emergency,” which is a product of their imagination since the President regularly endorses his pet bills. Instead of defending the work of the legislature, Senate Minority Leader Aquilino “Koko” Pimentel III said he will assist as a “source of some facts, information and arguments” in assailing the edict before the SC. Pimentel also ridiculously demanded that President Marcos veto the bill and return it to Congress. Knowing that it was a priority measure, Pimentel now wants the Chief Executive to make a fool of himself by rejecting the MIF and tossing it back to Congress. He argues that it will give lawmakers a “chance to take a second look at the measure to address the concerns raised by many sectors.” Had Pimentel not played truant, he would not need the second look that he is now demanding. Legal experts said the High Tribunal will not allow itself to become part of the farce of the detractors and will respect the separation of powers principle. Albay Rep. Edcel Lagman, who voted against the MIF bill, ceded that an SC challenge will not prosper. Petitions challenging the bill’s constitutionality, once it becomes a law, have no issues that will require a Supreme Court review, he simply explained. “Congressional wisdom and expediency are not justiciable issues before the Supreme Court. Thus, I am dousing cold water on projected petitions to challenge the constitutionality of the MIF,” Lagman acknowledged. The legislator recalled the case of former Bataan Rep. Enrique Garcia v. the Executive Secretary in which the SC made clear that it will “not delve into the policy or wisdom of a statute.” Lagman’s view is that if there would be a need for changes in the law, the right step will be “to seek its amendment or repeal by the legislature itself.” The detractors’ rumblings are thus part of their frantic effort to gain relevance using the MIF as a springboard that in turn exposes their vested interest. The oppositors to the bill should consider that the SC is too busy with more important concerns to be bothered by their political play. Had they been doing their job, Pimentel and company would have introduced relevant provisions to the bill that should have tightened its safeguards against abuse. While the majority of the legislators had the good judgment to craft a law that would raise the interest of investors in the country, the slackers are trying to pull it down to salvage their names from obscurity. The MIF will benefit the nation — as the majority of the economic officials explain it — and the detractors of the bill have nothing to offer but hatred. The post Ignore loose cannons appeared first on Daily Tribune......»»
No state pension funds in MIF
President Ferdinand Marcos Jr. on Wednesday assured the public the national government will not use state pension funds Social Security System and Government Service Insurance System as “seed funds” to finance the proposed Maharlika Investment Fund. The Chief Executive made the assurance in an interview with reporters at the 86th-anniversary celebration of GSIS, hours after the Senate passed Senate Bill 2020 creating the MIF. The Senate approved the controversial sovereign fund bill, voting 19-1-1 at around 2:30 in the morning of Wednesday following 12 hours of deliberations. Marcos explained, however, that the pension funds themselves could invest in the proposed sovereign wealth fund if they believe it is a “good investment.” “We will not use it as a seed fund. However, if a pension fund decides the Maharlika Fund is a good investment, it’s up to them if they want to invest in it, not only pension funds but corporations,” Marcos said. “Those funds, that’s all they do, they grow their money so they have something to give,” Marcos added. Marcos said this is what GSIS has been doing. He said GSIS makes sure that “they are very solid (and) that they are very stable” so that they could give out all the payments (to its members). “We have to differentiate those two things,” he added. In a separate interview, GSIS president Jose Arnulfo “Wick” Veloso said they would abide by the lawmakers’ decision regarding the MIF. “I don’t have any idea about what other discussions are happening about those things. We will only do one thing, whatever the decision of the lawmakers is because they listen to our people, whatever they want, that’s what we will follow,” Veloso told reporters. “So we are just guided by the direction that is given to us,” he added. Unanimous approval During Tuesday’s plenary session which ran until early Wednesday, senators unanimously approved the fund measure shortly after it was approved on second reading. A total of 19 senators voted in favor of the passage of the Maharlika bill, while only one senator voted against it and one abstained. Senate Deputy Minority Leader Risa Hontiveros objected to the measure while Senator Nancy Binay abstained from voting. Senators Aquilino Pimentel III and Imee Marcos, who also opposed the measure, were not present. During the period of individual amendments, senators introduced several changes to the proposed Maharlika Investment Fund, including a ban on government financial institutions such as the SSS, GSIS, Philippine Health Insurance Corporation, OWWA Fund, Philippine Veterans Affairs Pension Fund, Office Pension Fund, and other government social welfare entities investing in the sovereign wealth fund. The amendment, which was introduced by Senator Raffy Tulfo, was accepted by Senator Mark Villar, the principal author, and sponsor of the measure. With the approval of the measure in the Upper Chamber, the Maharlika bill is now closer to enrollment for the President’s signature. Senate President Juan Miguel Zubiri designated Senators Villar, Pia Cayetano, Ronald “Bato” dela Rosa, Francis Tolentino and Senate Minority Leader Aquilino “Koko” Pimentel III as the Senate contingent to the bicameral conference committee. Contingents from both the House of Representatives and Senate are to convene at 11 a.m. today to reconcile the disagreeing provisions in their respective versions of the Maharlika bill. Economic team lauds Senate Meanwhile, Marcos’ economic team lauded the Senate for passing the Maharlika Investment Fund. “The economic team commends Senate President Miguel Zubiri and Senator Mark Villar for their thorough deliberation and prioritization of the proposed Maharlika Investment Fund Act,” Finance Secretary Benjamin Diokno said. “The Senate leadership pulled out all the stops to ensure that the bill we bring to the President reflects the administration’s objective of creating a profitable and secure investment fund,” he added. The bill’s speedy approval was backed by Diokno, Executive Secretary Lucas Bersamin, Budget Secretary Amenah Pangandaman, Socioeconomic Planning Secretary Arsenio Balisacan and Bangko Sentral ng Pilipinas Governor Felipe M. Medalla, who were all present during the prolonged Senate session. Budget Secretary Pangandaman, for her part, said the Senate’s version of the MIF has “multiple” safeguards against potential misuse. “This is a great stride towards our long-term progress and will boost our efforts for economic growth,” Pangandaman said. “This includes multiple safeguards — we have an audit committee, there’s an advisory board, and there’s a congressional oversight committee. It adheres to the internationally known Santiago principles, there’s the (Commission on Audit), and it has (a) procurement law, so I think we have enough safeguards,” she added. She highlighted potential financial resources from the Land Bank of the Philippines, the Development Bank of the Philippines, the Philippine Amusement and Gaming Corporation, central bank dividends, and income from privatization. @tribunephl_tiz @tribunephl_jom The post No state pension funds in MIF appeared first on Daily Tribune......»»
Zubiri says Maharlika Fund equipped with safeguards
Senate President Juan Miguel “Migz” Zubiri on Wednesday called on the public to “not worry” about the proposed Maharlika Investment Fund, stressing that “all safeguards” are in place. “I am very proud of this measure, I am very proud of the Senate version, because of the safeguards that we put in place,” Zubiri told reporters in a chance interview. “I am calling on our fellow Filipinos not to worry because all of the safeguards that we could place, we put it there,” he added. During Tuesday’s plenary session which ran until early Wednesday, senators unanimously approved Senate Bill No. 2020, or the proposed Maharlika Investment Fund, on third and final reading, shortly after it was approved on second reading. A total of 19 senators voted in favor of the passage of the Maharlika bill, while only one senator voted against it, and one abstained. Senate Deputy Minority Leader Risa Hontiveros objected to the measure while Senator Nancy Binay abstained from voting. ‘No GFIs’ Zubiri also mentioned that government financial institutions such as the Social Security System, Government Service Insurance System, Philippine Health Insurance Corporation, OWWA Fund, Philippine Veterans Affairs Pension Fund, Office Pension Fund and other government social welfare entities are prohibited from investing in the proposed Maharlika Investment Fund. “These what we call private funds or trust funds in the hands of the government – these are under the protection of the government – it will never be used for the Maharlika, not mandatory nor voluntary,” he said. “So we want to put that on record because the public might be worrying for something that would not happen,” he added. The amendment, introduced by Senator Raffy Tulfo, was accepted by Senator Mark Villar, the principal author and sponsor of the measure. The post Zubiri says Maharlika Fund equipped with safeguards appeared first on Daily Tribune......»»
No GFI investment in Senate’s all-nighter approval of Maharlika bill
The Senate has approved Senate Bill No. 2020, or the proposed Maharlika Investment Fund on third and final reading. During Tuesday’s plenary session which ran until early Wednesday, senators unanimously approved the measure shortly after it was approved on second reading. A total of 19 senators voted in favor of the passage of the Maharlika bill, while only one senator voted against it, and one abstained. Senate Deputy Minority Leader Risa Hontiveros objected to the measure while Senator Nancy Binay abstained from voting. During the period of individual amendments, senators introduced several amendments to the proposed Maharlika Investment Fund, including the ban on government financial institutions such as Social Security System, Government Service Insurance System, Philippine Health Insurance Corporation, OWWA Fund, Philippine Veterans Affairs Pension Fund, Office Pension Fund, and other government social welfare entities from investing in the proposed Maharlika Investment Fund. The amendment, which was introduced by Senator Raffy Tulfo, was accepted by Senator Mark Villar, the principal author, and sponsor of the measure. With the approval of the measure in the chamber, the Maharlika Investment Fund bill is now an inch closer to its ratification and enrolment for the President’s signature. Senate President Juan Miguel “Migz” Zubiri designated Senators Villar, Pia Cayetano, Ronald “Bato” Dela Rosa, Francis Tolentino, and Senate Minority Leader Aquilino “Koko” Pimentel III as Senate contingents for the bicameral conference committee. Contingents from both House of Representatives and Senate are to convene at 11 a.m. Wednesday to reconcile the disagreeing provisions in their respective versions of the proposed Maharlika Investment Fund bill. The post No GFI investment in Senate’s all-nighter approval of Maharlika bill appeared first on Daily Tribune......»»
Upper Chamber MIF version vague, says solon
Senator Imee Marcos on Monday said Senate Bill 2020, which seeks to establish the proposed Maharlika Investment Fund, is “still vague” and stressed that would not allow the immediate passage of the measure, even if it will be “ideal” to be passed before the sine die adjournment of Congress on 2 June. “I will not allow it if ever it will be approved immediately because that’s a huge sum of money. Our children will be buried in debt. It is something that should not be fast-tracked,” said the lady senator despite the certification of the bill as a priority measure by his brother, President Ferdinand Marcos Jr. Citing the “compelling need” for a “sustainable national investment fund” amid the rising inflation rate driven by various factors, the President certified the MIF bill as urgent last week. However, the solon stressed that the “present form” of the Senate version of the MIF bill is still in the process of amendments. “I noticed that, there are different amendments on the bill. Even the amendments from the Department of Finance are not yet finished,” said Marcos. “That is why we are confused. Where is the final form?” To recall, the House of Representatives approved the third and final reading of House Bill 6608, or the proposed MIF bill before adjourning for the Christmas break last year. The Senate has less than a week to pass the measure before the Congress adjourns on Friday, however, the upper chamber can extend its session to deliberate on the MIF bill and other priority measures during the two-week break. Meanwhile, opposition Senator Risa Hontiveros expressed her concern regarding the recent amendment on the MIF bill that will enable the supposed board of directors of MIF to access the hard-earned pension funds from the Government Service Insurance System and the Social Security System. Hontiveros specifically questioned the Section 12 of the proposed measure which contains the lines “other GFIs and GOCCs may invest into the Maharlika Investment Fund, subject to their respective investment and risk management strategies, and approval of their respective boards.” “I would really not have the particular section. I would still request our colleagues in the majority to worry about this and to help remove this provision altogether at the proper time,” Hontiveros said. Jom Garner Proponents of the bill from the House of Representatives removed the SSS and GSIS as mandatory sources of seed money to start the MIF, after it was heavily criticized by the public. The post Upper Chamber MIF version vague, says solon appeared first on Daily Tribune......»»
Race against time for US debt crisis bill in Congress
The bill hammered out by US leaders to prevent the country from a catastrophic default on its debts will face one last hurdle this week: Passing Congress. Top Republicans and Democrats scrambled Monday to secure congressional support for the measure, with President Joe Biden feeling "very good" about its prospects despite having just days left before the government starts running out of money. The deal, finalized Sunday by Biden and House Speaker Kevin McCarthy after weeks of frantic negotiations, faces opposition from the progressive and hard-right wings of their respective parties. Ultra-conservative Republicans feel McCarthy should have secured far deeper spending cuts in exchange for raising the debt ceiling and allowing the government to keep borrowing money. The left wing of the Democratic Party is equally unhappy that Biden agreed to any spending limits at all. The House Rules Committee will meet Tuesday to set the parameters for the upcoming vote, now scheduled for Wednesday. Delay tactics Biden and McCarthy both say they believe the bill will pass the House and then move swiftly to the Senate. "I never say I'm confident what the Congress is going to do. But I feel very good about it," Biden said Monday, adding that he had spoken to lawmakers. But organized dissent could force some nerve-shredding delays. The key deadline is June 5 -- when, according to Treasury estimates, the government will no longer have the funds required to pay all its debts and bills. If that scenario morphs into a full-fledged default, the repercussions would be disastrous for the US and the wider global economy. The basic framework of the deal lifts the federal debt ceiling, which is currently $31.4 trillion, for two years — enough to get past the next presidential election in 2024. In return, the Republicans secured some limits on federal spending over the same period. As they finalized the text Sunday, Biden and McCarthy both went into hard-sell mode to shore up support in their parties. Biden's message to dissident Democrats, he said Monday: "Talk to me." Win, win Both Biden and McCarthy were backed by vocal spin operations insisting the agreement clearly represented a victory for their side. "You want to try to make it look like I made some compromise on the debt ceiling -- I didn't," Biden told reporters. McCarthy, for his part, touted the agreement as a "historic series of wins." But like Biden, McCarthy will have to quell members of his own party who aren't keen on the bill. "I want to raise the debt ceiling. It'd be irresponsible not to do it," Senator Lindsey Graham told Fox News Sunday. "But what I will not do is adopt the Biden defense budget and call it a success," Graham said, calling for bigger increases to the Pentagon's budget than currently agreed. "I will not be intimidated by June 5." In reality, the agreement represents a mutual climb down of sorts from Democratic and Republican negotiators. Biden had initially refused to negotiate over spending issues as a condition for raising the debt ceiling, accusing the Republicans of taking the economy, hostage. And the big cuts that Republicans wanted are not there, although non-defense spending will remain effectively flat next year, and only rise nominally in 2025. McCarthy's wafer-thin majority in the House will require significant Democratic backing to balance out Republican dissent. One Republican tweeted out a vomit emoji in response to the deal, with another calling it "an insult to the American people." At the same time, a member of the House Progressive Caucus, Ro Khanna, said a large number of fellow Democrats were still "in flux as to where they're going to be on this." Democrats hold the majority in the Senate, but individual senators could try and hold up the bill with amendment votes that would bring the process perilously close to the June 5 deadline. One element likely to rile Democratic environmental hawks was the surprise inclusion of a measure to accelerate the completion of an oil pipeline project that has been stalled by green concerns. Both the House and Senate are expected to return on Tuesday, after a long holiday weekend. The post Race against time for US debt crisis bill in Congress appeared first on Daily Tribune......»»
Imee says Senate version of MIF bill ‘still vague’
Senator Imee Marcos on Monday said Senate Bill No. 2020, which seeks to establish the proposed Maharlika Investment Fund, is “still vague.” In a chance interview, Imee said she would not allow the immediate passage of the measure, even if it would be “ideal” to have it passed before the sine die adjournment of Congress on 2 June. “I will not allow it if ever it will be approved immediately because that’s a huge sum of money. Our children will be buried in debt. It is something that should not be fast-tracked,” she said despite the certification of the bill as a priority measure by his brother, President Ferdinand Marcos Jr. Citing the “compelling need” for a “sustainable national investment fund” amid the rising inflation rate driven by various factors, the President certified the MIF bill as urgent last week. Imee said the “present form” of the Senate version of the MIF bill is still in the process of amendments. “I noticed that, there are different amendments on the bill. Even the amendments from the DOF (Department of Finance) is not yet finished,” she said. “That is why we are confused. Where is the final form?” she added. The House of Representatives approved on third and final reading House Bill No. 6608, or the proposed MIF bill, before adjourning for the Christmas break last year. The Senate has less than a week to pass the measure before Congress adjourns on Friday. However, the upper chamber can extend its session to deliberate on the MIF bill and other priority measures during the two-week break. Meanwhile, opposition Senator Risa Hontiveros expressed her concern regarding the recent amendment on the MIF bill that will enable the supposed board of directors of MIF to access the pension funds of the Government Service Insurance System and the Social Security System. Hontiveros specifically questioned Section 12 of the proposed measure which contains the lines: “Other GFIs and GOCCs may invest into the Maharlika Investment Fund, subject to their respective investment and risk management strategies, and approval of their respective boards.” “I would really rather not have this section at all. I would still request our colleagues in the majority to worry about this and to help remove this provision altogether at the proper time,” she said. Proponents of the bill from the House of Representatives removed the SSS and GSIS as mandatory sources of seed money to start the MIF, after it was heavily criticized by the public. The post Imee says Senate version of MIF bill ‘still vague’ appeared first on Daily Tribune......»»
Padilla wants four-year term limit for president
Senator Robin Padilla on Thursday said he is planning to push for political amendments in the 1987 Constitution such as limiting the term of the president and elected officials to four years. In a press conference at the Senate, Padilla said this is his “alternative plan” after failing to gain enough support to amend the economic provisions of the Constitution via constitutional assembly. “We have another bill about the extension of terms, the reelection of [former] presidents, four-year term for local officials,” he said in Filipino. “If they don’t want [amendments] on the economic provision, we will try political [amendments],” he added. Asked about the basis of his plan to allow former presidents to run for office again, the neophyte senator answered: “Six years are not enough for a wise president, but for a foolish president, it is too much.” ‘Cha-cha not dead’ Padilla, who chairs the Senate panel on Constitutional Amendments and Revision of Codes, insisted that his aspiration for charter change (cha-cha) is “not yet dead.” “Maybe the [amendments on] economic provision but not cha-cha,” he said. The lawmaker is advocating for the amendment of the economic provisions through a constitutional assembly or con-ass while the House of Representatives is pushing for a constitutional convention. He explained that one of the reasons cha-cha in Congress “died” is due to the issue of Speakership in the House of Representatives. “It ultimately died after the row in the lower chamber,” he said. Last week, reports about the speakership row emerged after former president and now Pampanga 2nd District Representative Gloria Macapagal-Arroyo was stripped of her title as senior deputy Speaker. Arroyo was replaced by Pampanga 3rd District Representative Aurelio Gonzales. The move fueled speculations that it was related to a failed attempt by the former president to oust Speaker Martin Romualdez, who is a cousin of President Ferdinand Marcos Jr. The veteran politician had admitted that she was gunning for the speakership last year but that is “no longer part” of her “political objectives” at this point. The post Padilla wants four-year term limit for president appeared first on Daily Tribune......»»
House adopts Senate version of poll workers tax exemption bill
MANILA - The House of Representatives on Tuesday adopted the Senate version of a bill that seeks to exempt poll workers' honoraria and other benefits from income tax.During the plenary session, the House adopted Senate Bill 2530 as an amendment to House Bill 9652, thus allowing for the measu.....»»