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LGUs urged to adopt eBOSS
The Anti-Red Tape Authority on Wednesday encouraged the local government units to comply with the Electronic Business One-Stop Shop or eBOSS to boost the ease of doing business in the Philippines. ARTA Director General Ernesto Perez said that the eBOSS is a program developed by ARTA in partnership with the Department of Information and Communications Technology to provide LGUs with a digitalized and streamlined business processing and licensing system. "The eBOSS makes it easier and faster for businesses to register and obtain permits, which can help to attract more investors and create more jobs," Perez said in a public briefing. Perez added that ARTA is working with the Department of the Interior and Local Government (DILG) to ensure that all LGUs comply with the eBOSS requirement. "We are providing LGUs with the necessary support and guidance to help them implement the eBOSS. We are also working with the DILG to monitor the compliance of LGUs," Perez said. As of September 2023, only eight out of 17 LGUs in Metro Manila have been verified by ARTA as compliant with eBOSS. Among them are Quezon City, Valenzuela, Marikina, Parañaque, Muntinlupa, and Quezon City, all of which have seen an increase in revenue collection and business registration. Outside Metro Manila, Lapu-Lapu, Cagayan de Oro, and Batangas City have also complied. "We urge all LGUs to comply with the eBOSS requirement. This is not only a legal requirement, but it is also in the best interest of our businesses and our economy," Perez said. ARTA's Partnership with the Civil Service Commission ARTA has also partnered with the Civil Service Commission (CSC) to improve the efficiency and effectiveness of government services. Under the partnership, ARTA and CSC will work together to develop and implement training programs for government employees on anti-red tape and ease of doing business. The partnership is also expected to promote the use of technology to improve government service delivery, Perez said. In addition, he said both ARTA and CSC will monitor and evaluate the performance of government agencies in terms of anti-red tape and ease of doing business. "We believe that this partnership with CSC will be instrumental in our efforts to improve the efficiency and effectiveness of government services," Perez said. "A more efficient and effective government will benefit both businesses and citizens. It will make it easier for businesses to operate and create jobs, and it will make it easier for citizens to access government services," Perez added. The post LGUs urged to adopt eBOSS appeared first on Daily Tribune......»»
Group presents gold as divine-guided fiat
The founder of the Global Gold Monetary Fund understands that attaining the goal of reintroducing gold as a monetary standard and medium of exchange faces huge challenges. In a briefing in Intramuros, Manila during the debut of the Global Gold Monetary Fund, Allain De La Mottez, founding member of GGMF, said “he and his group will surely face attacks to discredit and devalue the effort.” “The attacks might outweigh the benefits. But if God is with us, then who can be against us?” he said. De La Mottez said choosing the Philippines as the launching pad for the gold-backed monetary system will give the country a critical role in the new order. He said the goal is to make gold a global currency, whereas a piece of gold in the Philippines will have the same value in the United States, providing parity in contrast to the fiat currency’s volatility and uncertainty. Further, Mottez said as the GGMF prepares to commence its gold-backed monetary system by January 2024, it will welcome members from other countries by “offering them the opportunity to partake in the promising future it envisions.” Being GGMF members, countries will have access to a suite of benefits, including the Gold Collateral System, in which GGMF will distribute securely stored physical gold among members through 50-year trust certificates, renewable as per the Jubilee principle; Debt Forgiveness Program: GGMF assumes member countries’ liabilities, including those in local and foreign currency, following the 50-year jubilee principle for structured debt relief; and New Monetary System, in which members participate in a revolutionary platform with dedicated unit trusts backed by Bailment Agreements, and receive initial Gold Unit allocations, bolstering and sustaining global economies. Movement turns global “This marks an extraordinary opportunity for individuals and entities alike to become part of a global movement aimed at reshaping the future of finance through the time-tested brilliance of gold,” Mottez said. With the use of modern technology, Mottez said GGMF offers global banking services, advocating decentralized systems and the intrinsic value of gold. “With our mission deeply rooted in the belief that gold is a divine asset meant to serve humanity, GGMF aspires to pave a new path toward financial stability and independence for all who embrace its vision, guided by the principles of faith in gold’s enduring value,” he said. Mottez said, to date, GGMF had been in talks with 249 countries with the goal of making gold a legal tender. “We have this unwavering commitment to revitalizing gold as a pivotal medium of exchange at the core of financial transactions. Unlike fiat paper currencies, gold cannot be wiped out. It boasts intrinsic value and, most importantly, belongs to God,” according to Mottez. The post Group presents gold as divine-guided fiat appeared first on Daily Tribune......»»
Marcos imposes rice price cap of P41/P45
President Ferdinand Marcos Jr. has imposed a price cap on rice amid what the Palace described Thursday as supply chain challenges and widespread hoarding to effect an artificial shortage. Mr. Marcos’ Executive Order 39, signed by Executive Secretary Lucas Bersamin, set a mandatory price ceiling of P41 per kilo for regularly milled rice and P45 per kilo for well-milled rice. With the order released yesterday, Malacañang said the President seeks to ease “the considerable economic strain on Filipinos, particularly the underprivileged and marginalized,” arising from the spiking inflation. In justifying the price cap, the EO cited reports from the Department of Agriculture and Department of Trade and Industry that members of a rice cartel have been actively engaged in hoarding and price manipulation. These illegal activities, coupled with global supply issues like the Russia-Ukraine conflict and the oil price swings, have contributed to the rising rice prices, it added. Nonetheless, the EO said the arrival of imported rice and the expected local production surplus are seen to stabilize the rice supply. Marcos, who concurrently heads the DA, last week inspected several rice storage facilities and ordered the Bureau of Customs and other agencies to raid warehouses storing hoarded rice. He also ordered the Philippine Competition Commission to take action against the cartels. Likewise, he ordered penalties for merchants who leverage their dominant market position or who collude with one another to mark up rice prices. Rice price increased The National Economic and Development Authority said the price of rice in the Philippines increased by 1 percent from January 2022 to 4.2 percent in July 2023. Early in his administration, Marcos said his aspiration was to bring down the price of rice to P20 per kilo. The DA last month projected the supply of rice for the second semester would hit 10.15 million metric tons (MMT), of which 2.53 MMT is ending stock from the first semester. Of the volume, 7.20 MMT is the expected output from domestic production, with 0.41 MMT representing imported rice. The overall supply would result in an ending stock of 2.39 MMT which would be good for 64 days, more than enough to meet the present demand of 7.76 MMT, the DA said. The price cap shall remain in force until lifted by the President upon the recommendation of the Price Coordinating Council and the agriculture and trade departments. The DA and the DTI will lead in the implementation of EO 39 by doing price checks in wet markets and supermarkets. “The EO primarily mandates the DTI and the DA to strictly implement the price ceilings. We will visit major wet markets and retail stores in the coming days,” DTI Secretary Alfredo Pascual told reporters. “This is not the sole responsibility of the DTI and DA because it’s a whole of government approach to ensure that rice in the markets is reasonably priced and remains a conveniently accessible staple food to Filipinos,” Pascual added. The DTI chief pointed out during the Laging Handa Public Briefing yesterday that the EO is not mainly on the retail price of rice but also its supply. Not a price freeze “There is no price freeze but a price cap, to be clear. Traders can still lower their prices. This EO is being implemented to prevent price manipulation in the market. Despite the ample supply, prices of rice surged in the past few days,” Pascual said. He maintained the price cap does not apply to other varieties of rice and is only meant for regular-milled rice and well-milled rice. “We have premium varieties that are not covered by the price cap. During our rounds, we will ensure that the subjects of EO 39 are not mislabeled as premium,” he added. Under the Price Act, retailers violating the price ceiling face imprisonment of from one to 10 years and/or fines of P5,000 to P1 million. Price manipulators and hoarders, on the other hand, face prison sentences from five to 15 years and fines of from P5,000 to P2 million. In a media interview in Palawan yesterday, where he opened the celebration of National Peace Consciousness Month, Marcos said the DA and DTI will be joined by the Department of Justice and Department of the Interior and Local Government in enforcing the price ceiling. “We have put together a structure for the continuing monitoring,” the President said. “These agencies already have regular inspections when it comes to other issues, so they will now apply the price ceilings that I have ordered in the EO that I signed on Thursday.” Focus on Metro Marcos said the government will focus on Metro Manila, where the problem of rising rice prices is most acute. However, he urged the public to report retailers who are selling rice above the price ceiling to the police, the DA, the DTI, or their local government. “If you find someone selling rice above the price ceiling, please report it,” he said. “We need your help to ensure that everyone has access to affordable rice.” The price ceiling on rice was set in response to the recent surge in rice prices. As of 28 August, the average price of regular milled rice in Metro Manila was P42 per kilo, while the average price of well-milled rice was P48 per kilo. The post Marcos imposes rice price cap of P41/P45 appeared first on Daily Tribune......»»
GCash keeps fee’s subsidy
Financial super application GCash will continue to subsidize the convenience fee for cash-ins to provide a financial cushion to users amid the rising cost of goods. At a recent media briefing of the Globe Group, GCash president and CEO Martha Sazon said that while users are still charged a fee for cash-ins, it is still “much lower” than the P25 that other financial institutions usually charge for cash transfers because of the subsidy. “The P5 convenience fee is only 1/5 of what is normally charged by other financial institutions. As GCash continues to scale, we still subsidize most of the charges as well as heavily invest in upgrading our infrastructure and reinforcing security services,” Sazon said. “This also ensures that our operations will remain seamless for all customers,” Sazon said. “Even with this fee, we will continue to subsidize part of the operating cost for cash-ins as we remain committed to keeping our services accessible to many Filipinos,” she added. More cash-in options Later this year, GCash is set to charge a cash-in or convenience fee of P5 for every cash-in via linked BPI and UnionBank accounts. Cash-ins via linked bank accounts are one way to add funds to a GCash account. Over-the-counter cash-in is also available through cash-in machines, partner convenience stores, pawnshops, supermarkets, department stores, drug stores, gas stations, sari-sari stores and retail stores, among others. Meanwhile, GCash has waived fees for QRPH transactions for merchants until the end of the year, giving micro-entrepreneurs extra earnings while using convenient cashless transactions. Other payment platforms charge up to 2 percent for QR-based or card payments. GCash also continues to offer micro-merchants access to a wallet with a limit of up to P500,000 monthly. GCash also waives the 1.5 percent transaction fee for up to P100,000 in gross sales. The post GCash keeps fee’s subsidy appeared first on Daily Tribune......»»
DTI launches One Ilocos Sur market platform for Ilocano MSMEs
On Sunday, 13 August 2023, Department of Trade and Industry Secretary Fred Pascual led the launching of the One Ilocos Sur One Town-One Product Hub on the sidelines of his trip in Ilocos to attend the Post-SONA Philippine Economic Briefing. In his speech, Pascual emphasized, "As the backbone of our economy, micro, small and medium enterprises play a vital role in shaping the Philippine economic landscape. They address poverty by generating employment opportunities. They serve as breeding grounds for budding entrepreneurs. These small enterprises spark development in rural areas." According to the Trade Secretary, a thriving MSME sector reflects a dynamic and progressive economy. The DTI works collaboratively with the private sector to assist MSMEs in product development, access to finance, market access and quality control, among others. The One Ilocos Sur OTOP Hub is a new market platform for Ilocano OTOPreneurs. It showcases products from two cities and 32 municipalities. It likewise celebrates Ilocano creativity and resilience, especially amid the recent onslaught of typhoon "Egay". The hub is a project of the DTI Ilocos Sur provincial pffice through the OTOP Next Gen Program, in collaboration with the provincial government of Ilocos Sur. "As the product landscape continues to evolve, bolstering market access becomes increasingly imperative. And the OTOP Philippines Hub has emerged as an adaptive and versatile platform that effectively addresses this critical need. Thus, the traditional pasalubong centers transform into vibrant spaces that go beyond mere product display," Pascual said. During the launching, Pascual also signed a Memorandum of Agreement with Governor Jeremias V. Singson allowing the establishment of the One Ilocos Sur OTOP Hub within the Provincial Farmers Livelihood Development Center located in Vigan, free of charge. Pascual assured Ilocano MSMEs that the DTI will continue to provide both capacity-building and financial assistance through its financing arm -- Small Business Corporation, especially for the victims of typhoon "Egay" and other disasters. The main cooperator for the One Ilocos Sur OTOP Hub is the Ilocos Sur Export Enterprises Distribution Marketing Cooperative. It also features 46 exhibitors or MSMEs from Ilocos Sur that the OTOP Hub is assisting. The post DTI launches One Ilocos Sur market platform for Ilocano MSMEs appeared first on Daily Tribune......»»
‘Left behind’ hospitals, clinics to benefit from mergers, acquisitions
Fortman Cline Capital Markets or FCCM, a corporate finance advisory and consulting firm, said Monday that small and independent hospitals as well as community clinics are now being left behind due to a “highly-fragmented” healthcare industry landscape. This landscape presents opportunities for mergers and acquisitions or M&A among the big players, which according to FCCM services managing director Francis S. Del Val could help small players to keep up and sustain operations. “It is something that we need to collectively focus on, those in the middle such as the independent hospitals, are the ones feeling the squeeze — those experiencing financial challenges and unavailable to grow their utilization because they don’t have enough allied healthcare professionals,” Del Val told reporters at a press briefing. Del Val noted that these players particularly need access to bigger capital to sustain their operations. “Before, we have community clinics in the poblacion, in the center of the town. If they fail, it means our patients would need to travel further. They are the ones at most risk,” he added. The FCCM executive also noted that consolidations and alliances will allow the industry to become more efficient and respond faster to emerging trends in the healthcare industry as well as to the impact of the Universal Health Care or UHC signed in 2019. Aside from the growing middle class and the impact of the UHC, the local healthcare industry also has the potential to grow further through medical tourism, he said. Several equity investors, with as much as $200 billion in funds, have reached out to FCCM to look for industry partners and local partners, he added. According to the Department of Health, there are 1,071 private hospitals and 721 public hospitals. Among the public hospitals, 70 are being operated by the DOH. The country’s leading hospital owners are led by Metro Pacific Health, with 3,895 beds; United Laboratories’ Mount Grace Hospitals, with 1,700 beds; St. Luke’s Medical Center, with 1,250 beds; The Medical City, with 1,040 beds, and AC Health, with 531 beds and over 100 clinics. Citing a research study by Congress, the country’s healthcare expenditure — including building healthcare facilities as well as paying for claims — reached P1.16 trillion in 2021, which represented a growth of 15 percent from the previous year. FCCM is a Hong Kong-based management consultancy firm focused on providing strategic advisory services to emerging conglomerates operating in specialized industries in Southeast Asia, among others. The post ‘Left behind’ hospitals, clinics to benefit from mergers, acquisitions appeared first on Daily Tribune......»»
Lower tariff rates on basic goods may be extended
The Philippines may lower import taxes on rice and other goods past 2023 to ease the pressure on the country's inflation, government officials said. In a recent briefing, Finance Secretary Benjamin Diokno said the government officials would meet in September to see if they have to extend the tariff rates on rice, corn, pork and fish. For context, President Ferdinand Marcos, Jr. signed Executive Order No. 10 last December to extend the lower tariff rates on the said commodities to address rising prices. EO No. 10 kept the reduced tariff rates for swine meat imports at 15% for shipments that don't exceed the minimum access volume (MAV) limit and at 25 percent for those that do. Corn had rates of 5 percent (within the MAV quota) and 15 percent (above the MAV quota), while rice had rates of 35 percent in both cases. The rates will stay the same until 31 December. Coal also kept its duty-free status after 31 December for as long as its rates are reviewed every six months after that date. In the same briefing, Finance Undersecretary Zeno Ronald Abenoja said the Inter-Agency Committee on Inflation and Market Outlook (IAC-IMO) started to review the current tariff rates of the four goods and other factors that cause inflation. Abenoja said that the IAC-IMO is considering checking the tariff rates on foreign food and non-food items. "The IAC-IMO has started reviewing all these items but given the recent developments, typhoons and also external developments, the review not only covers the four agricultural commodities under the EO but also other drivers of inflation we've seen in the past few months," Abenoja said. "The extension will cover just four but the IAC-IMO reviews both food and non-food sources of inflation. A comprehensive review is ongoing," he added. Abenoja underscored that they "do not want to preempt" what the result of that review will be because it involves both the industry and other private sector players. The post Lower tariff rates on basic goods may be extended appeared first on Daily Tribune......»»
Global labor becoming ‘cash strapped’ — PwC
“Great resignation” remains an issue among workers worldwide, wherein in the Philippines, 29 percent of workers wanted to change employers due to various factors, including the work-life balance, the latest survey from PwC Philippines said. The inclination may have been influenced by a labor force that is increasingly short of cash. The PwC survey noted that the proportion of the global workforce who said they have money left over at the end of the month has fallen to 38 percent, down from 47 percent last year. In a press briefing in Makati City on Thursday, PwC Philippines consulting managing principal Veronica Bartolome said, quoting the result of the 2023 Hopes and Fears Global Workforce Survey, workers are likely to change jobs in the next 12 months, up from 19 percent last year. Scanning for better jobs Employees who said they are most likely to change employers include those who feel overworked (44 percent), struggle to pay the bills every month (38 percent), and Gen Z (35 percent). “In the Philippines, 29 percent (vs. 30 percent for Asia Pacific) say they are likely to change employers in the next 12 months, and they are more likely to be in the Engineering; Construction (35 percent) and Hospitality; Leisure (31 percent) industries,” she said. The survey results showed with the high inflation rates experienced in early 2023, Filipino employees are also much more likely to ask for a pay raise (70 percent) and promotion (59 percent). As of April 2023, the Philippine Statistics Authority reported that the employment rate in the country was posted at 95.5 percent, higher than the estimates in April 2022 (94.3 percent) and January 2023 (95.2 percent). No money to spend According to the survey, which details the attitudes and behaviors of nearly 54,000 workers in 46 countries and territories, revealed the cooling economy is creating a cash-strapped workforce. It also found that one in five workers (21 percent) now work multiple jobs, with 69 percent doing so because they need additional income. The share of workers with multiple jobs is higher for Gen Z (30 percent) and ethnic minorities (28 percent). “The global workforce is divided into two — those with valuable skills who are well set to keep learning, and those without. We found that often, those without the skills are less financially secure and less able to access training in the skills of the future,” Bob Moritz, PwC Global chairperson, said. Transform to succeed In a world where CEOs know they need to transform their businesses to succeed, they need to combine the benefits of technology with a plan to unlock the talents of all workers. It is in no one’s interest for businesses to chase the same group of skilled workers while the rest of society gets left behind,” Moritz added. Moreover, the survey said that workers struggling financially are also less able to meet the challenges of the future including the need to develop new skills and adapt to the rise of artificial intelligence. Compared to workers who can pay their bills comfortably, those who struggle or cannot pay their bills are 12 percentage points less likely to say they are actively seeking out opportunities to develop new skills (62 percent vs. 50 percent). Similarly, those workers who are more financially secure are more likely to seek feedback at work and use it to improve their performance (57 percent) than those who are struggling financially (45 percent). The post Global labor becoming ‘cash strapped’ — PwC appeared first on Daily Tribune......»»
Palace gets intel funds lion’s share
The Office of the President stands to receive P4.5 billion of the total P9.2 billion in confidential and intelligence funds in the national budget for next year, the Department of Budget and Management said. While the OP will get the biggest share of the CIF, Pangandaman said, the Office of the Vice President will get some P500 million and the Department of National Defense P1.7 billion. Budget Secretary Amenah Pangandaman said P4.3 billion has been allocated for confidential funds and P4.9 billion for intelligence funds in the proposed 2024 national budget. “For 2024, the confidential fund — this is across all agencies — is P4.3 billion and the intel is P4.9 billion, and I think the amount is the same as the 2023 level, almost the same,” she said. The Vice President Sara Duterte-led Department of Education or DepEd will again receive P150 million in confidential funds for 2024, the same amount as this year. A 2015 joint circular released by five government agencies defines confidential funds as the budget for the surveillance activities of civilian government agencies. Intelligence funds, on the other hand, relate to intelligence or information-gathering activities of uniformed and military personnel that directly impact national security. In a separate briefing, Pangandaman said three agencies requested additional shares in confidential funds, causing the anticipated CIF under the 2024 national budget to rise by P120 million. Increases sought Pangandaman said the Department of Information and Communications Technology, the Anti-Money Laundering Council, and the Presidential Security Group sought increases in their CIF. Pangandaman justified the increase in the CIF, saying it is necessary to support the government’s efforts to promote national security and ensure the safety of the President and other government officials. “The additional funds are allocated for specific purposes. For example, in the case of DICT, the increase is for cybersecurity, which is essential as we push for digitalization,” Pangandaman said. “Cybersecurity investment is parallel to our digitalization efforts. Why does it need to be confidential? It’s because of the procurement process. You cannot disclose the technical specifications of your cybersecurity projects in the Terms of Reference because hackers might see it. If they have access to the specs, our cybersecurity projects and programs won’t be effective,” she said. The administration, she added is confident the proposed allocations for intelligence funds are well-justified. “The additional funds are allocated for specific purposes. We can assure the public that these intelligence and confidential funds will be beneficial to the country,” she said. The DBM also revealed an increase in the CIF of the Armed Forces of the Philippines, the National Security Council, the Office of the Presidential Adviser on Peace, Reconciliation and Unity, and the Office of the Ombudsman. Meanwhile, there was a decrease in the CIF allocated to the Philippine Competition Commission, the National Intelligence Coordinating Agency and the Department of Justice. The post Palace gets intel funds lion’s share appeared first on Daily Tribune......»»
Confidential and intelligence funds increase P120M in 2024, UP budget cut P2.93B
Budget Secretary Amenah Pangandaman on Thursday confirmed that there will be a P120-million increase in confidential and intelligence funds for the fiscal year 2024. In a Malacañang press briefing, Pangandaman said the increase is due to additional confidential funds allocated to three government agencies. These agencies include the Department of Information and Communications Technology (DICT), the Anti-Money Laundering Council (AMLC), and the Presidential Security Group (PSG). A 2015 joint circular released by five government agencies defines confidential expenses as those of surveillance activities in civilian government agencies. According to the same 2015 joint circular, intelligence funds are those related to intel information-gathering activities of uniformed and military personnel that directly impact national security. Pangandaman justified the increase in the CIF, saying it is necessary to support the government's efforts to protect national security and ensure the safety of the President and other government officials. "The additional funds were allocated for specific purposes. For example, in the case of DICT, the increase is for cybersecurity, which is essential as we push for digitalization," Pangandaman said. "Cybersecurity investment is parallel to our digitalization efforts. Why does it need to be confidential? It's because of the procurement process. You cannot disclose the technical specifications of your cybersecurity projects in the Terms of Reference (TOR) because hackers might see it. If they have access to the specs, our cybersecurity projects and programs won't be effective," she added. Pangandaman said the administration is confident that the proposed allocations for intelligence funds are well-justified. "The additional funds were allocated for specific purposes. We can assure the public that these intelligence and confidential funds will be beneficial to the country," Pangandaman said. In a separate statement, the Department of Budget and Management (DBM) said there also an increase in the CIF in the Armed Forces of the Philippines; National Security Council; Office of the Presidential Adviser on Peace, Reconciliation and Unity, and; the Office of the Ombudsman. Meanwhile, there has been a decrease in the CIF allocated for the Philippine Competition Commission, the National Intelligence Coordinating Agency, and the Department of Justice. On the other hand, the confidential funds of the Office of the President and the Office of the Vice President remain at the same level as the 2023 General Appropriations Act. DBM likewise emphasized the declining percentage contribution of CIF in the national budget in recent years, decreasing from 0.215 percent in 2018, 0.192 percent in 2019, 0.235 percent in 2020, 0.212 percent in 2021, 0.183 percent in 2022, 0.190 percent in 2023, to 0.176 percent in 2024. "With these, the public can remain confident that the disbursement and utilization of the CIF will be done by government agencies with utmost transparency and accountability, in strict adherence to existing guidelines set forth by the Commission on Audit (COA) on the appropriate allocation and use of these funds," DBM said. Budget Cuts Meanwhile, DBM said the budget cut for the University of the Philippines (UP) under the proposed 2024 expenditure plan will not affect student admissions. In the Palace briefing, Pangandaman said the P2.93 billion reduction in the UP budget for 2024 resulted from the removal of budgetary requirements for several infrastructure projects scheduled for completion this year. “So if it's for completion in 2023, we don’t need the funding for 2024,” Pangandaman said. Asked if the budget cut will translate to a reduction in the number of students admitted to UP, Pangandaman said none. The DBM added it also took into account how much of UP's budget was used the year previously when determining the proposed NEP's budget allocation. “Hence, in our review and evaluation of UP’s budget proposals, we considered its absorptive capacity, which is 69.48% as of end-2022,” it said. The post Confidential and intelligence funds increase P120M in 2024, UP budget cut P2.93B appeared first on Daily Tribune......»»
Pampanga’s ‘Egay’ rehab plan gets P55-M donation
The Philippine Disaster Resilience Foundation received a P55-million grant from the Australian government to implement the Resilient Emergency Communications for Enhanced Disaster Response, or REACHED, Project for climate-vulnerable local government units of Butuan, Agusan del Norte, Virac, Catanduanes and Borongan, Samar. At the same time as the project launch, PDRF hosted an operational briefing for the private sector on the effects of typhoon ‘Egay.’ Typhoon Egay private sector response In its briefing, PDRF reported widespread flooding in MIMAROPA, Central Luzon and Ilocos. Landslides have also been reported in the Cordillera Administrative Region. PDRF member companies Manila Water and Maynilad are monitoring dams and rivers; McDonald’s Kindness Kitchen and Jollibee Foods Corporation are monitoring stores in affected areas and are on standby to distribute hot meals to evacuation centers; PLDT and Smart are also sending packs of rice and hygiene kits; Alagang Kapatid Foundation Inc. dispatched a team to Northern Luzon to distribute relief goods from Pilipinas Shell Foundation Inc., One Meralco Foundation, Maynilad, Metro Pacific Investments Foundation, and Makati Medical Center Foundation; Lifeline utilities are mobilizing to restore services in Egay-affected areas in Northern Luzon. Launched at the PDRF Emergency Operations Center in Pampanga, Project REACHED is a two-year program that solves the recurring problem of establishing communications after a major disaster. Project REACHED aims to provide select LGUs with the necessary equipment and training to ensure access to communications during and after calamities and help coordinate response and recovery operations in affected areas. The LGUs of Butuan, Virac, and Borongan were selected based on their vulnerability to typhoons, economic revenue, population, resources, and competitive index resilience score. This project will harness public-private partnerships and will be implemented in collaboration with the Department of Information and Communications Technology, Office of Civil Defense, World Food Program, Globe Telecom and PLDT-Smart. In his remarks, Thanh Le PSM, Counsellor Development of the Australian Embassy in the Philippines, noted that “Building long-term disaster and climate resilience has been a critical priority for Australia in the Philippines. We recognize that natural disasters and climate change are ‘threat multipliers’ that disproportionately affect society’s weakest and most vulnerable sectors. Investing in resilient emergency communications can save countless lives and prevent vulnerable communities from experiencing even more difficulties and hardships.” “Typhoon Egay’s destructive swath through the northern Philippines is a reminder of how critical telecommunications are during a crisis. Our thanks to the Australian Government for their support. May Project REACHED help make life safer for the people of Butuan, Virac, and Borongan—three cities that are frequently hit by storms,” said Rene “Butch” Meily, PDRF President. The investment in Project REACHED is a critical component of Australia’s development assistance in the Philippines that aims to enhance local resilience to natural disasters. The post Pampanga’s ‘Egay’ rehab plan gets P55-M donation appeared first on Daily Tribune......»»
MIF could speed up top projects completion — Diokno
Finance Secretary Benjamin Diokno said on Monday that the Maharlika Investment Fund could speed up the completion of the government’s top projects by giving them access to new funding sources. In a television interview, Diokno said the MIF would invest in 194 high-yielding government projects worth P8 trillion. “Without Maharlika, about 55 percent of that will be funded by the Official Development Assistance, around 10 percent from the national budget, and 30 percent Public-Private Partnership,” Diokno said. “With the Maharlika, you open another area of financing; now we can accelerate the implementation of these projects which we need very badly,” Diokno added. P100B at least by yearend The Finance chief also mentioned that the MIF could have at least P100 billion in available funds by the end of the year, adding that rules and regulations for using the wealth fund could be done by the end of August. Diokno said that the government might reveal the whole MIF board by September, echoing what President Ferdinand Marcos Jr. said that picking good managers is the key to the success of the country’s first sovereign wealth fund. In a separate briefing, Diokno said the government is considering having international lenders put in the country’s first sovereign wealth fund to make sure the fund is stable and trustworthy. Diokno said that the government hopes that multilaterals such as the Asian Development Bank and the International Finance Corp. of the World Bank will invest in the MIF. “It is favorable if they invest as it can give an impression that this is a sound and stable fund,” Diokno said. Many interested but no official pledges yet He also said that “there is a lot of interest” in the fund, but no official pledge has been made since the MIF law was passed. Diokno said that the multilaterals’ interest would really depend on “management and policies.” For context, the ADB and the World Bank haven’t said anything about their plans to invest in the MIF yet. The post MIF could speed up top projects completion — Diokno appeared first on Daily Tribune......»»
MIF can speed up projects as source of new funding—Diokno
Finance Secretary Benjamin Diokno said on Monday that the Maharlika Investment Fund (MIF) could speed up the completion of the government's top projects by giving them access to new funding sources. In a television interview, Diokno said the MIF would invest in 194 high-yielding government projects worth P8 trillion. "Without Maharlika, about 55 percent of that will be funded by the Official Development Assistance (ODA), around 10 percent from the national budget, and 30 percent Public-Private Partnership," Diokno said. "With the Maharlika, you open another area of financing; now we can accelerate the implementation of these projects which we need very badly," Diokno added. The Finance chief also mentioned that the MIF could have at least P100 billion in available funds by the end of the year, adding that rules and regulations for using the wealth fund could be done by the end of August. Diokno said that the government might reveal the whole MIF board by September, echoing what President Ferdinand Marcos Jr. said that picking good managers is the key to the success of the country's first sovereign wealth fund. In a separate briefing, Diokno said the government is considering having international lenders put in the country's first sovereign wealth fund to make sure the fund is stable and trustworthy. Diokno said that the government hopes that multi-laterals such as the Asian Development Bank (ADB) and the International Finance Corp. of the World Bank will invest in the MIF. "It is favorable if they invest as it can give an impression that this is a sound and stable fund," Diokno said. He also said that "there is a lot of interest" in the fund, but no official pledge has been made since the MIF law was passed. Diokno said that the multilaterals' interest would really depend on "management and policies." For context, the ADB and the World Bank haven't said anything about their plans to invest in the MIF yet. National Treasurer Rosalia de Leon, who was also in the briefing, said that the government would start talking to the multilaterals once the rules and laws for the MIF are finalized. "We understand that they would like to see the investment policy, the IRR. And, of course, the most common question is who would be running it and who would be the face (of the fund)," De Leon said. The post MIF can speed up projects as source of new funding—Diokno appeared first on Daily Tribune......»»
MSMEs seek boost via gov’t assistance
The country’s micro, small, and medium enterprises, or MSMEs, which have been driving economic growth and recovery in the last few years, need full support from the government to survive and flourish. At a public briefing on Thursday, Go Negosyo Founder and Private Sector Lead for Jobs Joey Concepcion reiterated that the upskilling of MSME owners and operators should be fully supported by the government. “At this point, beyond being competitive in the global market is survivability. Our small entrepreneurs need their businesses to grow, they need to learn how to expand through skills improvement,” Concepcion said. Economies of scale “So, what we need to do is to help them get scale, that is what we are trying to do now — to help them survive. Once they can survive and be sustainable, then they can start to expand,” he added. Concepcion also pointed out that both the government and the private sector should collaborate to provide small businesses with competitive and fair credit facilities that can provide them additional financial muscle to survive. “Well, in the end, access to money or credit is the most important. In agriculture, for instance, access to credit or capital remains a persisting problem. What is good now is that digital platforms are available and we should utilize those,” he explained, “So, working capital is a problem, and that is what we’re trying to work on right now,” he added. Just last week, the Securities and Exchange Commission asked the capital market players to collaboratively fill the country’s $220 billion estimated credit gap to help fund the growth of local startups and small businesses. Aligned with the national government’s agenda, the SEC targets to harness the potential of micro, small and medium enterprises or MSMEs as major economic growth drivers. The Commission, thus, presented crowdfunding, among others, as an accessible and convenient means for such businesses to secure funds for expansion. Startups get support Crowdfunding is a fundraising activity typically conducted by startups and small and medium enterprises or SMEs, where the public can support or fund a business idea through an online platform. So, what we need to do is to help them get scale, that is what we are trying to do now — to help them survive. Once they can survive and be sustainable, then they can start to expand. Among the MSMEs that have raised capital through crowdfunding is Crymton Comtech Sales & Services, which testified on the “transformative impact” of its partnership with Investee. As of December 2022, over 200 businesses have successfully raised capital through the platforms of Investree and Seedin Technology, from a total of more than 1,000 registered issuers. The post MSMEs seek boost via gov’t assistance appeared first on Daily Tribune......»»
Gov’t committed to improving healthcare
PAMPANGA — President Ferdinand Marcos Jr. said that his government is working “relentlessly” to make sure that all Filipinos had access to health care as he intends to build more health centers in rural areas. The Chief Executive made the remark as he inspected the building of a new multi-specialty medical center in Clark, Pampanga, which he said was part of his administration’s efforts to advance quality healthcare to Filipinos. “Rest assured, this administration is determined to bring quality healthcare and services closer to (the) Filipino people... We will not stop until every Filipino can say they have good access to quality healthcare,” he said in his speech during Clark Multi-Specialty Medical Center’s groundbreaking ceremony. The President thanked the Philippine Amusement and Gaming Corporation, the Clark Development Corporation and other government agencies for spearheading the establishment of the CMSMC. The project is a collaboration between government agencies and private sector entities, including the Department of Health, Bases Conversion and Development Authority, PAGCOR, CDC and Bloomberry Cultural Foundation Inc. of business tycoon Enrique Razon. He urged the public to be part of the solution to the lack of healthcare facilities in the country since access to healthcare is a fundamental right and not a privilege. In a speech during the briefing and site inspection Marcos said it was unbearable for him to see a fellow Filipino in pain or distress due to the insufficient healthcare system in the Philippines. “I cannot forget the reason healthcare has been such an important part of this administration not only because of the experience that we have had in the pandemic in the last two to three years, but also with the guiding understanding and idea that any person cannot enjoy success if they do not also enjoy good health,” Marcos said. He said the government is committed to improving healthcare access for all Filipinos. He announced that the government will establish primary healthcare facilities and specialty centers nationwide. After completion, the CMSMC will comprise a range of specialized centers and healthcare services, including a heart center, lung center, kidney center, cancer center and a children’s hospital. “This is not a single project that stands on its own alone,” he said. “This is part of a larger system of healthcare provision that we are putting together to service our kababayans (compatriots),” Marcos said. The President also underscored his goal of giving poor Filipinos access to medical treatments as he said that he wants the government to bring the healthcare down to the people. “We will establish rural healthcare units. We will establish barangay centers. We will establish botica de barangay,” Marcos said. “This is part of a larger system of healthcare provision that we are putting together to service our kababayans so that they do not have to wait to get very, very sick before they go to the big hospitals,” he added. He explained that the Covid-19 pandemic was part of the reason why his government puts healthcare at the top of its list of priorities, because the country needs to be ready in case there is another major health crisis. The post Gov’t committed to improving healthcare appeared first on Daily Tribune......»»
Govt committed to improving healthcare access—PBBM
PAMPANGA – President Ferdinand Marcos Jr. on Monday urged the public to be part of the solution to the lack of healthcare facilities in the country since access to healthcare is a fundamental right and not a privilege. In a speech during the briefing and site inspection of the Clark Multi-Specialty Medical Center (CMSMC) in Clark Freeport Zone in Pampanga, Marcos said it was unbearable for him to see a fellow Filipino in pain or distress caused by the insufficient healthcare system in the Philippines. "I cannot forget the reason healthcare has been such an important part of this administration not only because of the experience that we have had in the pandemic in the last two to three years, but also with the guiding understanding and idea that any person cannot enjoy success if they do not also enjoy good health,” Marcos said. Marcos said the government is committed to improving healthcare access for all Filipinos. He announced that the government would establish primary healthcare facilities and specialty centers nationwide. "This is not a single project that stands on its own alone," he said. "This is part of a larger system of healthcare provision that we are putting together to service our kababayans (fellowmen)," Marcos said. Meanwhile, Marcos thanked the Philippine Amusement and Gaming Corporation (PAGCOR), the Clark Development Corporation, and other government agencies for spearheading the CMSMC. After completion, the CMSMC will comprise a range of specialized centers and healthcare services, including a heart center, lung center, kidney center, cancer center, and a hospital dedicated to children. The project involves collaboration between government agencies and private sector entities, including the Department of Health, Bases Conversion and Development Authority, Philippine Amusement and Gaming Corporation, Clark Development Corporation, and Bloomberry Cultural Foundation Inc. The post Govt committed to improving healthcare access—PBBM appeared first on Daily Tribune......»»
Digibanks to open financial access to unserved
The Bangko Sentral ng Pilipinas is studying whether to open license applications to more digital banks in the country soon. In a Philippine economic briefing in Canada last Thursday, BSP Governor Eli Remolona said officials are still monitoring developments in digital banking and electronic payments in the Philippines and building the proper infrastructure, systems, and human resources before authorizing more industry players. “We’ve limited licenses to six digital banks for now, and we must catch up with technology. So we’re expanding our capacity to work with digital banks, and pretty soon, I think we’ll be ready to work with more digital banks,” Remolona said. BSP has been collaborating with financial technology firms through its regulatory sandbox, where financial technology firms present their innovative products and services and have them tested under the watch of a BSP regulator. “What we do is put them in the sandbox and bring in the regulator to work with them so the regulator understands the implications of the innovations. Usually, you have the innovation and regulations at the end of the year. It’s a matter of efficiency and competitiveness for the banking system,” Remolona explained further. Department of Budget and Management Secretary Amenah Pangandaman, who previously served as assistant BSP governor, said further studies on digital banking and electronic money issuers or EMIs are needed to ensure BSP regulations truly promote the adoption of these innovative services nationally. “We have a study that there was a time when there were a lot of EMIs in the country. As of now, it’s on hold before a study. Hopefully, BSP will develop recommendations on whether to open the digital banking space or limit the players moving forward.” McKinsey & Company reported that GoTyme, UnionDigital Bank, and UNO Bank had a total market value of $3 billion, more than the $ 2.2 billion of traditional banks between January 2021 and January 2023. However, the report stressed: While competition in digital financial services is intensifying, dominant players have yet to emerge outside the mobile payments subsector. Six digital banks have recently launched operations in the Philippines, but none lend at scale. Tonik Digital Bank Inc., Maya, and Overseas Filipino Bank Inc are the three other digital banks. In a summit on artificial intelligence in May, Henry Aguda, president of UnionDigital Bank, said digital banks must still acquire trust from most Filipinos, especially for loans, before new industry players can compete successfully and be profitable. “If I use a car analogy, the six digital banks generally use the same road and most car parts. But ours is a different engine, and that changes the game. I’m not saying there should be lighter regulations, but more progressive regulations with a digital banking slant.” The post Digibanks to open financial access to unserved appeared first on Daily Tribune......»»
ASF still No. 1 concern — DA
The Department of Agriculture on Monday said African swine fever is still a major concern of the livestock industry in the country. In a press briefing, Arnel De Mesa, DA's Assistant Secretary for Operations, said ASF is still rampant in Visayan region, particularly in the areas of Aklan, Antique; Negros Oriental and Occidental. However, clinical trials for an ASF vaccine is showing effectiveness, according to De Mesa, based on a report of the DA's Bureau of Animal Industry. He added that they are now just waiting for the vaccine's certificate of product registration for hog raisers to buy the vaccines from Vietnam. The BAI said Vietnam has allocated 600,000 doses of vaccine for Philippines use. Following the impact of the ASF outbreak on the country, the Integrated National Swine Production Initiatives for Recovery and Expansion Program of the DA turned over 120 pigs to four cooperatives in Lipa City, Batangas. The DA said the distribution formed part of the commitment of President Ferdinand R. Marcos Jr. that all farmers and fishers will receive assistance from the government to ensure improved production and income. The Buklod ng Cumba Multi-Purpose Cooperative, L7 Livestock Agriculture Cooperative, Sto. Toribio Farmers Agriculture Cooperative and Malitlit Consumers Cooperative each received 30 swine breeder stocks from the DA. The distributed breeder stocks were born from grandparent pigs donated by the DA-National Livestock Program to select farm-cooperators such as EVG Farm and Phillac Farms, Inc. Lipa Mayor Eric Africa said that under his leadership, the city government will continue to collaborate with the DA and the City Veterinary Office in providing technical and financial assistance to ASF-affected hog farmers and to support the DA’s initiatives toward agricultural development and the attainment of food security. Supported by the DA Administrative Orders No. 6 and 7 in 2021, the INSPIRE Program is one of the DA’s twin programs against ASF — the other being the Bantay ASF sa Barangay program for intensified disease surveillance and control in the barangay level. The program focuses on calibrated hog re-population, establishment of swine farms and facilities and ensuring easy access to insurance and credit services for hog farmers to improve swine production and to ensure the sufficiency of pork and pork products in the country. The INSPIRE Program is spearheaded by the DA-NLP with support from its livestock attached agencies, the DA Regional Field Offices, local government units and other stakeholders including farmers’ cooperatives and associations. On its official website, the DA-NLP reported having distributed 19,486 pigs for its implementation of sentinel protocol, reaching 8,161 beneficiaries nationwide. The post ASF still No. 1 concern — DA appeared first on Daily Tribune......»»
PBBM prods agencies on flood control initiatives
President Ferdinand R. Marcos Jr. on Tuesday directed the Water Resources Management Office of the Department of Environment and Natural Resources to make a comprehensive plan to protect coastal communities and the rest of the country from flooding. The Chief Executive gave the directive after his briefing from the Department of Public Works and Highways regarding its flood control initiatives, and the National Irrigation Administration on the administration of rivers with dams. During the meeting, Marcos said that the government is looking for locations outside Metro Manila where it can put up large impounding areas to control water flow and avoid flooding. "We will control it there, so it won't enter Manila anymore, and we will also have stored water for agriculture and other purposes," Marcos said. "I am examining what is necessary and what else we can add. We are spending billions to construct dikes, waterways, spillways and even pumping stations here in the (the National Capital Region). We discussed these matters to ensure greater quantity and more efficient discharge of water," Marcos added. Marcos, citing the DPWH, mentioned a projected expense of P351 billion for flood control projects in both Metro Manila and its neighboring regions. The rainwater collection system program under Republic Act No. 6716, with a total cost of P5.86 billion, is meant for the construction and installation of 6,002 rainwater collection system in various parts of the country. The briefing also covered ongoing flood control projects in Pampanga, Cavite, Leyte and Cagayan De Oro City. Additionally, it addressed the construction of access roads leading to irrigation areas identified by the NIA through the Katubigan Program, which is being implemented jointly with the DPWH. The post PBBM prods agencies on flood control initiatives appeared first on Daily Tribune......»»
No isolation via internet
The Marcos administration is expected to further narrow the country’s so-called “digital divide” as it focuses on connectivity projects in geographically isolated and disadvantaged areas or GIDAs, an official of the Department of Information and Communications Technology said on Saturday. In a briefing, DICT Undersecretary Jocelle Batapa-Sigue said the department is prioritizing connectivity projects in the countryside, targeting the GIDAs. At the same time, private telecommunications companies are implementing their infrastructure projects in highly urbanized areas. To emphasize the significance of the Marcos administration’s efforts to promote digital inclusivity during National ICT Month, Batapa-Sigue said the concluding events of the celebration on 30 June would take place on Sacol Island in Zamboanga City. Sacol Island is one of the remotest areas of the country. “If we look at it, all the connectivity programs implemented and funded by the DICT are not focused on urban areas because commercial players are already present there. So what we prioritize are the GIDA areas,” the DICT official said. Islanders connected “Sacol Island is a very distant island but is home to many children and families. Last year, for the first time in their lives, they could send messages and post on Facebook because the DICT provided Internet access,” Batapa-Sigue said. On Friday, President Marcos led the eGov PH Super App kick-off ceremony in Malacañang to underline the importance of digital transformation in governance and economic development. To date, Batapa-Sigue said, Internet connectivity coverage in the Philippines is at around 73 percent. “So, for us, even though this number is significant, it is still small because, as you mentioned, your signal gets Interrupted. So it’s not only a question of coverage, it’s also a question of speed, latency, affordability, and access to the internet,” she said. The DICT official said the agency has also started a national broadband project with a landing station in Baler, Aurora, to cover the whole country. The National Fiber Backbone Phase 1 Spectrum light-up launch held last April at the Baler Cable Landing Station will initially provide high-speed Internet connectivity in Luzon. The event facilitated the initial 100 Gbps link-up between Los Angeles, California, and the cable landing stations and the San Fernando, La Union CLS. Establishing the connectivity link-up is part of the Luzon Bypass Infrastructure (LBI) that will provide high-speed internet connectivity to Northern Luzon and Metro Manila once the NFB Phase 1 becomes operational. The LBI, a project of the DICT in partnership with Meta (Facebook) and the Bases Conversion Development Authority (BCDA), is a building block of the NFB. The post No isolation via internet appeared first on Daily Tribune......»»