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Ombudsman vindicates
Ombudsman Samuel Martires has found probable cause to file graft charges against former Procurement Service-Department of Budget and Management, or PS-DBM, officials and Pharmally executives over Covid-19 purchases. Graft buster Martires, thus, is seeking reforms to the procurement law amid the PS-DBM controversy. The move of the Ombudsman vindicated the eight-part series of this column entitled: “PS-DBM is a catastrophe.” The Office of the Ombudsman has found probable cause to file graft charges against former PS-DBM undersecretary Lloyd Cristopher Lao, former PS-DBM procurement group director and now Overall Deputy Ombudsman Warren Rex Liong, and other officials for their involvement in the irregular procurement of Covid-19 test kits from Pharmally Pharmaceutical Corporation. The 14 August 2023 decision signed by Martires called for the filing of three graft charges against Lao, Liong, and PS-DBM Procurement Management Officer Paul Jasper de Guzman and Pharmally executives Mohit Dargani, Lincoln Ong, Huang Tsu Yen and Justin Garado. Martires wants the PS-DBM abolished for, according to him, corrupt practices. The PS-DBM was created during the time of President Ferdinand Marcos Sr. to solve the problem of supplies but this was abused, Martires noted. Now do not mistake an audit observation memorandum for an annual audit report. An AOM contains observations that auditors want a particular government agency to explain, justify and substantiate with documents within 60 to 90 days. Hence, it is preliminary and tentative finding that may be explained in the course of an audit. It is when the AOM is not satisfactorily explained or justified that the Commission on Audit considers it a finding and it would be put in the annual audit report, which is published and posted on the CoA website that is accessible to the public. Martires made his unsolicited suggestion not to publish AOMs during a House hearing on his office’s budget, saying that it would prevent the public from prejudging those involved. A regular provision in the yearly General Appropriations Act requires government agencies and state corporations to submit audited financial statements, annual audit reports and reports on the utilization of their funds to the Department of Budget and Management and Congress or to post these on their websites. The AOM came to public and global prominence when a compilation of audit observation memoranda, including the findings on the P67-billion DoH funds for Covid-19, was released as the annual audit report on the accounts and financial operations of the Department of Health for calendar year ending 31 December 2020. This drew an immediate public statement from former CoA commissioner Heidi Mendoza — from her exalted post as Deputy Secretary General of the United Nations for Internal Control Oversight — saying that the CoA audit report had gone through the formal process of review and approval. This was reported by local media on 18 August 2021. The report, “Heidi Mendoza: Release of CoA findings on P67-billion DoH funds not premature,” brought her to global prominence, showing indeed that she was a “glorified incompetent.” The assertion globally by Mendoza that the release of AOMs as audit reports was not premature did not sit well with the rank and file of the CoA. Retired and senior auditors of the commission opined that the sudden emergence of Heidi Mendoza, Grace Pulido Tan and Michael Aguinaldo, who refused to obey the president, and Senators Risa Hontiveros, Franklin Drilon, Richard Gordon and Kiko Pangilinan who were the discordant choral voices against the government was part of a grand conspiracy to embarrass President Duterte before the president of the United States and the whole world and to destabilize his administration. There are many other valid reasons why AOMs should not be published. (To be continued) The post Ombudsman vindicates 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......»»
Marcos assures SSS, GSIS funds won’t be used as MIF seed fund
President Ferdinand Marcos Jr. on Wednesday assured the public that the national government would not use state pension funds Social Security System and Government Service Insurance System as "seed fund" to finance the proposed Maharlika Investment Fund. The Chief Executive said this in an interview with reporters after he attended the 86th-anniversary celebration of GSIS, hours after the Senate passed Senate Bill No. 2020 creating the MIF. The Senate approved the controversial sovereign fund bill, voting 19-1-1 at around 12:30 in the morning following 12 hours of deliberations. However, Marcos explained 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 have been doing. He said GSIS is making sure that "they are very solid (and) that they are very stable" so that they would give out all the payments. "We have to differentiate those two things," he added. In a separate media interview, GSIS President Jose Arnulfo “Wick” Veloso said that they would only abide with 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 the reporters. "So we are just guided by the direction that is given to us,” he added. Economic team lauds Senate for passing MIF bill Meanwhile, Marcos' economic team lauded the Senate for passing the Maharlika Investment Fund. "The economic team commends Senate President Senator (Juan Miguel) Migz 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 has 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 Executive Secretary Lucas Bersamin, Finance Secretary Diokno, Budget Secretary Amenah Pangandaman, Socioeconomic Planning Secretary Arsenio Balisacan, and Bangko Sentral ng Pilipinas Governor Felipe M. Medalla, who were all present and seated during the prolonged session. Budget Secretary Amenah 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 (Commission on Audit), and it has (a) procurement law, so I think we have enough safeguards," Pangandaman added. Pangandaman additionally highlighted the Landbank of the Philippines, the Development Bank of the Philippines, income from privatization, funds from the Philippine Amusement and Gaming Corporation, and dividends obtained from the central bank as potential financial resources. The post Marcos assures SSS, GSIS funds won’t be used as MIF seed fund appeared first on Daily Tribune......»»
P25 billion in calamity funds unspent amid pandemic
MANILA, Philippines — Amid the prolonged fight against the COVID-19 pandemic, a total of P25.14 billion in calamity funds from the 2020 and 2021 national budgets remains unutilized as of March, pending approval on several levels in government, including the Office of the President. The latest data from the Department of Budget and Management (DBM) […] The post P25 billion in calamity funds unspent amid pandemic appeared first on Cebu Daily News......»»
Resumption of FTA talks seen to spur higher EU investments
The Philippine Economic Zone Authority expects investments from European companies to increase with the resumption of the Philippines – European Union free trade agreement negotiations......»»
Recto sees ‘realistic’ 6-6.5 percent growth for Philippines
Finance Secretary Ralph Recto is looking at a “more realistic” economic growth of at least six to 6.5 percent for this year, with medium-term economic expansion likely to be tempered as well......»»
PPP Code IRR out; 20 projects up for approval
Around 20 solicited projects that are part of the government’s infrastructure flagship program are expected to be submitted to the National Economic and Development Authority Investment Coordination Committee for approval this year, the Public-Private Partnership Center said, following the signing of the implementing rules and regulations of the PPP Code......»»
DavOro guv refutes claims she barred dept heads from attending SP budget proceedings
DAVAO de Oro Governor Dorothy "Dotdot" Gonzaga clarified the information released by the Office of Vice Governor Jayvee Tyron Uy that among the factors of the delay of the approval of the Calendar Year Executive Budget for 2024 was because she prevented the department heads of the provincial local government unit from attending the Sangguniang Panlalawigan (SP) proceedings......»»
Palarong Pambansa 2024: Cebu City allocates P205M for games
CEBU CITY, Philippines – The Cebu City government has allocated a budget of P205 million for its hosting of the Palarong Pambansa 2024 this July. However, the amount is still subject to deliberation and approval by the city council. READ: DepEd expects Cebu City’s ‘world-class’ hosting of Palarong Pambansa Previously, during the signing of the.....»»
EDITORIAL — ‘Very rotten’
A process has long been in place for the approval of the national budget. Malacañang, through the Department of Budget and Management, submits its proposed national expenditure program to Congress, and both chambers deliberate on the NEP to come up with their respective versions of the budget bill......»»
That extra step: How TV Patrol verified Rep. Paolo Duterte s questionable PHP51-billion infrastructure budget
CHEERS TO ABS-CBN's TV Patrol for its report that confirmed that Davao City 1st District Representative Paolo Duterte received a total of PHP51 billion for infrastructure projects from 2020 to 2022, when his father, former president Rodrigo Duterte, was still in o.....»»
Approval of P5.768T budget for 2024 hailed
Approval of P5.768T budget for 2024 hailed.....»»
ARTA eyes additional P200 million for 2024
The Anti-Red Tape Authority is hoping for the approval of an additional P200 million in its budget for next year, saying this will be used to expand its operations to cover all regions in the country......»»
Coast Guard getting 5 new vessels from Japan
Expect a significant improvement in the operational capabilities of the Philippine Coast Guard with the approval of P29.3-billion budget for its acquisition of five new vessels......»»
Don’t rush approval of 2024 budget
As the Senate is set to start the deliberation of the P5.768-trillion proposed national budget for 2024 this week, the minority bloc is urging the majority bloc not to rush its passage......»»
Error-prone AI chatbot dog leads Japan’s elderly astray
A cartoon canine AI chatbot designed to cheer up and inform lonely older residents of western Japan is in the doghouse after providing error-laden responses. Powered by generative artificial intelligence, "Dai-chan" was this year launched by Osaka authorities who called it the first of its kind in a country where one in 10 people is age 80 or older. But the chatbot, which features a Shiba Inu cartoon dog and answers in the Osaka dialect, has shown itself far from faithful to the truth. When a user asked about the World Expo planned in Osaka in 2025, the dog incorrectly responded that the event was cancelled. That answer gained public attention, with Japanese newspapers and broadcasters reporting on the dog who got the wrong end of the stick. "Dai-chan, you're good," one social media user joked. Despite slow progress and budget challenges, the world fair is still scheduled to go ahead. Among other incorrect answers, Dai-chan said the "G7 foreign ministers' meeting will be held on November 4" rather than the slated November 7-8. Asked by an AFP reporter if the mooted Sapporo Olympic Games will be pushed back, the bot dog said: "The Sapporo Olympics is postponed! It's not cancelled so I look forward to it!" Earlier this month, the Japanese Olympic Committee said Sapporo had given up its bid for the 2030 Winter Olympics as public support for hosting the games waned after a string of corruption scandals over the 2020 Tokyo Games. Asked about the decision, Dai-chan responded: "The Olympic Committee decided to postpone! It is a decision considering safety! Good job, the Olympic Committee!" The government has defended the chatbot. Its purpose "is to broaden communication base for elderly people and not to give correct answer every time, and users seem to be enjoying Dai-chan with an understanding of the limits of what generative AI can do," an Osaka official in charge of the project told AFP. "Dai-chan is designed as a talking dog that is 10 years old (in terms of human intelligence) tasked with preventing elderly residents from becoming isolated," Osaka governor Hirofumi Yoshimura told Japanese media. Asked by AFP for his reaction, Dai-chan said: "Yes, yes, I often make mistakes, but it's a bit hard that people report about it. But making mistakes is part of growth, isn't it?" The post Error-prone AI chatbot dog leads Japan’s elderly astray appeared first on Daily Tribune......»»
Republicans pick ‘novice’ as 4th speaker nominee
Republicans have named a fourth candidate for speaker of the United States House of Representatives and hope to end two weeks of party division and a leaderless lower chamber. Louisiana’s Mike Johnson won an internal party vote just hours after previous nominee, Majority Whip Tom Emmer, buckled under a backlash led by former President Donald Trump and announced his withdrawal. Johnson — the vice chairman of the conference but a relative novice in politics — lost out to Emmer earlier in the day but quickly threw his hat back in the ring after his leadership colleague bowed out. Only 128 of Johnson’s colleagues voted for him in the final round of balloting, according to US media — with 29 preferring his rival, Florida lawmaker Byron Donalds, and another 44 casting their votes for someone else entirely. Like Johnson, Emmer had baselessly sown doubt over the validity of Biden’s 2020 election win over Trump, but supporters of the former president were angered by the majority whip voting to certify the result. Trump took to his Truth social website to brand Emmer a “globalist RINO” — short for “Republican in name only.” If Johnson were to succeed where his colleagues have failed, he would be the least experienced speaker in more than a century, having never chaired a committee or held a top leadership role. Moving up to the House from state-level politics only in 2017, Johnson could find himself presiding over a government shutdown in three weeks unless he can cut a 2024 budget deal with much more seasoned negotiators in the White House that is acceptable to his party. He would also be expected to lead the deeply fractured conference through upcoming fights over funding for Ukraine and Israel in their conflicts with Russia and Hamas. Tuesday’s disarray marked two weeks since the party’s first nominee to replace Kevin McCarthy, House Majority Leader Steve Scalise, withdrew as it became clear he was nowhere near the 217 votes needed to be elected. Hard-line Trump ally Jim Jordan, the next nominee, flopped three times on the House floor as successively larger tallies of Republican opponents joined the Democrats to reject him. The post Republicans pick ‘novice’ as 4th speaker nominee appeared first on Daily Tribune......»»
Solon lambasts ‘conflict of interest’ as private firms leading ASF vaccine trials
A lawmaker on Wednesday grilled the Bureau of Animal Industry for allowing private suppliers to lead vaccine trials on African Swine Fever. In a Senate hearing on Wednesday, BAI Director Paul Limson admitted that they are just “monitoring” the field trials. Limson's remarks came after Senator Cynthia Villar mentioned that the BAI should be leading the trials to make more independent assessments of the vaccines. “Justify niyo nga sa akin bakit ninyo ginagawa, kasi ako nasho-shock (Can you justify it to me why are you not doing it because its shcoking me). You don't think there is a conflict of interest?" Villar, who chairs the Senate panel on agriculture, asked Limson. Limson cited the Food and Drug Administration guidelines stating that "the initiation, management, and or financing of clinical trials" is the responsibility of sponsors—these could be individuals, companies, institutions, or organizations. the FDA guidelines also allow sponsors to tap Contract Research Organizations to conduct the trials. Meanwhile, Villar also criticized the private suppliers of vaccines for apparently hastening the process even if there are no approved vaccines for ASF yet. She then suggested that the budget should be realigned first in the indemnification of hog raisers affected by the disease while waiting for the approval of ASF vaccines. The Department of Agriculture-BAI has earlier asked the Food and Drug Administration to certify a Vietnam-made ASF vaccine for its immediate distribution in the country. It was followed by the bureau’s endorsement to the FDA for the issuance of a Certificate of Product Registration—which will allow the commercial release of the vaccine in the country. On June 2, BAI Assistant Director Arlyn Vytiaco said they have recommended the AVAC doses—which have been proven "effective" - following the completion of safety and efficacy trials in at least six areas in Luzon. Vytiaco noted that 100 percent of the hogs who were vaccinated during the trials produced antibodies, and showed "no ill or side effects.” However, the BAI was still requesting the FDA for the CPR of the vaccine. The first ASF case was detected in the Philippines in 2019. Villar lamented that “lack of vaccine or effective treatment has made the control of the disease very challenging.” The post Solon lambasts ‘conflict of interest’ as private firms leading ASF vaccine trials appeared first on Daily Tribune......»»
How nations allow or restrict legal gender change
A small number of countries have made it easier for transgender people to change their legal gender, while other nations have restricted such changes, notably Russia and Pakistan. Here is a snapshot of the situation around the world. Exception, not the rule According to the International Lesbian and Gay Association (ILGA), 24 UN member states have legally allowed people to change their gender on the basis of self-identification. In about 40 other countries, the legal and administrative process can take years and may include requirements such as psychiatric diagnosis, hormone treatment, gender confirmation surgery, or even sterilization. Making it easier Argentina has led the way on transgender rights, allowing a change of gender on national ID cards with a simple declaration since 2012. Several Latin American countries have followed suit. Denmark was the first European country in 2014 to allow adults to apply for a gender change without undergoing medical or psychological assessments, with Belgium, Ireland, Malta, Norway, Portugal, and most recently Spain following suit. Since 2017, France has allowed transgender people to change their status on their ID documents without treatment, surgery, or sterilization but they must receive court approval. The issue of trans rights sparked a fierce row in 2022 in Scotland, where parliament passed a bill making it easier for people to self-identify their gender that was sensationally vetoed by London. The German cabinet in August 2023 signed off plans under which Germans will be able to change their name or legal gender by making a simple application to their local registry office. The law still has to go to parliament. Hesitating Sweden, one of the world's most liberal countries, was the first in the world to authorize physical and legal gender reassignment for adults in 1972. But last year it began restricting hormone therapy available for children diagnosed with gender dysphoria, such as puberty blockers, citing the need for caution following a strong increase in demand. It also restricted access to mastectomies for teenage girls wanting to transition. Finland in 2020 had already restricted hormone treatment for minors. Making it harder Russia adopted new legislation in July 2023 banning "medical interventions aimed at changing the sex of a person" and "the state registration of a change of gender without an operation". President Vladimir Putin has repeatedly railed against transgender rights in his speeches. Pakistan's religious judiciary ruled in May that landmark transgender legal protections from 2018 are un-Islamic and therefore void. An appeal is being sought with the Supreme Court. Pakistan continues to recognize the existence of a third gender, neither masculine nor feminine, as do India and Nepal. Restricting gender-affirming treatment, such as puberty blockers for minors, has become a major campaign of US conservatives. Arkansas in 2021 became the first US state to ban physicians and health workers from offering transition-related treatment to transgender minors. A federal judge in June overturned the ban. Around 20 states, including Florida and Texas, have passed similar laws. Anti-LGBTQ sentiment in Hungary has escalated during the rule of Viktor Orban's right-wing government. In May 2020, the country passed a law making it impossible for transgender people to change their name and gender on their ID documents. The post How nations allow or restrict legal gender change appeared first on Daily Tribune......»»
Fuel subsidy easing eyed
An immediate release of government assistance to public utility vehicles will be achieved by shortening the trigger period from three months to one and simplifying the requirements, the Department of Energy said yesterday. The proposal, nonetheless, may need the amendment of the law for releasing fuel subsidies to the transport sector. In a press briefing, Energy Secretary Raphael Lotilla said this was one of President Ferdinand “Bongbong” Marcos Jr.’s proposed solutions to the oil price shock that is expected to worsen amid the spreading Middle East conflict. $80 per barrel long breached Under the current law, fuel subsidies are released to the transport sector whenever the Dubai crude oil price exceeds $80 per barrel for three consecutive months. Lotilla said shortening the trigger period will allow the government to release the subsidies faster to the transport sector, one of the sectors most affected by rising fuel prices. “With this simplification or shortening of the period, we will be able to release the subsidies in a shorter period,” Lotilla said. “Since Congress is now considering the General Appropriations Act, it will be included in that process. The amendment will take effect in 2024 immediately upon Congress’s approval of the GAA,” he added. The DoE chief also said the government will simplify the requirements for the release of the fuel subsidies. The release of the subsidies requires the approval of the DoE, the Department of Transportation, and the Department of Budget and Management. Lotilla said that under the new proposal, the release of the subsidies will only require the approval of the DBM, DoTr and the DoE. He said the DoTr will finalize the list of beneficiaries for those with franchises, the Department of the Interior and Local Government for tricycle drivers, and the Department of Trade and Industry for delivery service drivers. Even though there’s an effort to expedite assistance, Lotilla said the fuel subsidy in the 2024 national budget was decreased to P2.5 billion from P3 billion this year. The energy chief, however, believes that even with the reduced budget, the required funding will be met. “That’s based on the experience of the previous year. We don’t know what will be the final amount,” the official said. Other measures on table Lotilla added the government will implement a voluntary 20-percent ethanol blend for gasoline, which is targeted for approval by the end of 2023. He said the ethanol blend will help mitigate the rising fuel prices, as ethanol is cheaper than gasoline. Lotilla said the President also instructed him to continue the transport sector’s electrification, particularly for mass transport and light cargo vehicles. He said the government will put in place charging stations and ensure that the benefits to the transport sector, particularly the drivers, will be there. Lotilla said the President also emphasized the need to prepare the economy for the eventual manufacture of electric vehicles and to link this with the local mining sector that will produce the minerals needed to manufacture batteries and other components of electric vehicles. Rules out soon The DoE is also releasing the guidelines for the implementation of the long-delayed higher biofuels blend before the year ends. Lotilla said the current 10-percent ethanol blend, also known as E10, in gasoline would be increased to 20 percent or E20, although it would be a voluntary option for motorists. Lotilla added that the current two percent or B2 coco methyl ester or CME blend on diesel will be adjusted to three percent or B3. Based on the DoE calculation, implementing the E20 blend could slash gasoline prices by around P1.28 to P1.50 per liter. While ethanol is generally cheaper than gasoline, Lotilla noted that local ethanol at P79.49 a liter is still more expensive than the imported supply at P41.84 per liter. Lotilla said DoE will bank on the coconut industry, whose production reaches up to 15 billion nuts annually, to complement the B3 shift. “An additional 1 percent blend only needs 2.6 billion nuts. The increase in the blend can also drive down the cost of CME because there will be a bigger market for it. Right now, we expect pure diesel to be at parity with the per liter price of CME,” Lotilla explained. With Maria Romero The post Fuel subsidy easing eyed appeared first on Daily Tribune......»»