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Govt. to boost agri, fishery sectors
President Ferdinand Marcos Jr. on Wednesday underscored the need to address the systemic issues plaguing Philippine agriculture for years due to the longstanding neglect of this sector. During his speech at the 70th anniversary of the Federation of Free Farmers (FFF) in Quezon City, Marcos Jr said the welfare of farmers and fisherfolk has been forgotten for decades, dating back to the inception of agricultural reform during his father and namesake's tenure. "We have a significant amount of work ahead of us because we need to fix the entire agricultural system that has been neglected for a long time, perhaps since the start of agricultural reform, during (the late President Ferdinand Marcos Sr.'s) time," Marcos Jr. said. "Now, many changes have occurred, the world has changed, and it has revolved several times. Therefore, we need to examine the needs of our farmers and fishermen to improve their lives because we often hear that we need to increase our yield, improve our harvest, and our productivity," he added. The latest data from the Philippine Statistics Authority showed that agricultural production in the country decreased by 1.3 percent during the year's second quarter. The figures unveiled by the PSA showed that the production value in agriculture and fisheries, calculated at constant 2018 prices, totaled P427.69 billion, a decline from the P433.10 billion recorded during the same period the previous year. Minimum wages for agricultural laborers in the Philippines vary by region, ranging from P306 in the Bangsamoro Autonomous Region in Muslim Mindanao to P573 in the National Capital Region. These wage rates, determined by tripartite boards, differ based on the specific region. “But let's not forget that the livelihood of our farmers and fishermen should also be taken care of and improved because that is our goal for all our farmers and fishermen,” Marcos said. Marcos emphasized the pressing need for his administration to boost the agricultural sector, with more than P92 billion set aside for upcoming agri-fisheries projects next year. Additionally, the Department of Agriculture has allotted P4.73 billion to improve large-scale agriculture and fishery mechanization and modernization, aiming to decrease post-harvest losses and cost-effectively enhance farmers' yields. However, the President underlined the enormity of the task ahead and called upon the public for their support and collaboration. "So, this is a massive task. That's why we need your help because the government alone cannot do all of this. We need your diligence, we need your advice because you are the ones facing the problems in agriculture that we are going through now,” Marcos said. “Rest assured, your government is here to do everything in its power to assist our farmers in producing a bountiful harvest, catching enough fish for our fellow citizens, and selling these products at prices affordable to our people,” Marcos added. The post Govt. to boost agri, fishery sectors appeared first on Daily Tribune......»»
Maynilad to spend P1.14 billion for Putatan plant upgrade
West Zone concessionaire Maynilad Water Services Inc. (Maynilad) has allotted around P1.14 billion to further upgrade the treatment processes of its Putatan Water Treatment Plants (PWTP) 1 and 2 in Muntinlupa City......»»
SUC group laments P4-B budget cut
Two members of the House of Representatives yesterday joined the Philippine Association of State Universities and Colleges in calling for an increase in the P21.69-billion budget it was allotted after the Department of Budget and Management recommended a cut in its original request. PASUC originally asked for a P25.8-billion budget but this was slashed by the DBM by over P4 billion in the P5.768-trillion National Expenditure Program it submitted to Congress for fiscal year 2024. Representatives Raoul Manuel and Mark Go joined PASUC officials in calling for an increase in the budget for state universities and colleges during the hearing on the group’s budget at the House. PASUC president Dr. Tirso Ronquillo told lawmakers the DBM trimmed their projected budget to P21.69 billion even as they expect to enroll 1,803,359 student-beneficiaries under the government’s free higher education program. “Our projection is based on our projected enrollment and the current tuition at each SUC. We factored in an increase in enrollment [as a] rule of thumb,” Ronquillo said. Manuel noted that as the government allots a big chunk of the national budget for infrastructure projects, the funding for state universities and colleges always takes a back seat. “They were not as blessed compared to other agencies,” he said. He said that while the government needs to fund infrastructure projects for their “long-term multiplier effects,” it should not be at the expense of education which has enduring benefits for future generations. Stand on own feet Manuel urged PASUC to provide greater assistance to students to alleviate the financial strain on them arising from supplementary expenses, including campus services, dorm fees and food. While universities can devise policies and guidelines to prioritize those students who could be accommodated in their dormitories, Ronquilo said that students must also learn to stand on their own feet. “While it’s really good to support the education of our students, I think we also have to teach our students social responsibility,” Manuel emphasized. Go, however, asked PASUC not to see the P4.16-billion deficit as a budget cut, but rather as an alternative means to align with the government’s allotted expenditure for the provisions of free education to students. “I would like to suggest to all SUCs to look at your income and see how you can fill the gap if there is any after the budget is approved,” Go said. The post SUC group laments P4-B budget cut appeared first on Daily Tribune......»»
DBM allots P822.2B for DPWH
The Department of Budget and Management has allotted P822.2 billion to the Department of Public Works and Highways for the proposed 2024 National Expenditure Program to build more public facilities, including roads and bridges, under the Marcos Administration’s “Build, Better, More, Program.” In a statement on Monday, Budget Secretary Amenah Pangandaman underscored the need for the country to bounce back after its economic losses during the pandemic. “As highlighted by the President during his second State of the Nation Address, infrastructure development is one of the key drivers of our continuing economic growth,” Pangandaman said. “As such, we will sustain this momentum through the “Build, Better, More, Program.” This will prioritize physical connectivity infrastructure such as road networks and railway systems,” she added. Flood Management, one of DPWH’s significant programs, gets the largest budget at P215.643 billion for 965 projects to construct or rehabilitate flood mitigation facilities in major river basins and principal rivers. Convergence and Special Support Program followed next with P174.089 billion proposed budget. For Network Development, P148.112 billion will be spent to construct 721.656 kilometers of new roads and widen or improve 647.288 kilometers of existing roads. For Asset Preservation, a budget of P115.588 billion is allotted to implement the preventive maintenance of 1,196.398 kilometers of roads and upgrade of 798.711 kilometers of damaged paved roads. The Bridge Program’s P45.839 billion allocation is for the construction of 15,208.83 lineal meters of bridges and maintenance, retrofitting, repair, and rehabilitation, as well as the widening of 525 existing bridges. A separate budget of P13.968 billion is allocated to the Tourism Road Infrastructure Program which will provide access roads leading to declared tourism destinations. Moreover, an allocation of P10.020 billion will be for the Roads Leveraging Linkages for Industry and Trade Infrastructure Program; Tatag ng Imprastraktura para sa Kapayapaan at Seguridad Program for military and police facilities, P3.8 billion; Special Road Fund for the construction, upgrading, repair, and rehabilitation of roads, bridges, and road drainage, P15.232 billion. The post DBM allots P822.2B for DPWH appeared first on Daily Tribune......»»
DBM allots P822B to infrastructure development
The Department of Budget and Management has allotted P822.2 billion to the Department of Public Works and Highways for the proposed 2024 National Expenditure Program to build more public facilities, including roads and bridges, under the Marcos Administration's Build Better More Program. In a statement on Monday, Budget Secretary Amenah Pangandaman underscored the need for the country to bounce back after its economic losses during the pandemic. “As highlighted by the President during his second State of the Nation Address (SONA), infrastructure development is one of the key drivers of our continuing economic growth," Pangandaman said. "As such, we will sustain this momentum through the Build Better More Program. This will prioritize physical connectivity infrastructure such as road networks and railway systems,” she added. Flood Management, one of DPWH's significant programs, gets the largest budget at P215.643 billion for 965 projects to construct or rehabilitate flood mitigation facilities in major river basins and principal rivers. Convergence and Special Support Program followed next with P174.089 billion proposed budget. For Network Development, P148.112 billion will be spent to construct 721.656 kilometers of new roads and widen or improve 647.288 kilometers of existing roads. For Asset Preservation, a budget of P115.588 billion is allotted to implement the preventive maintenance of 1,196.398 kilometers of roads and upgrade of 798.711 kilometers of damaged paved roads. The Bridge Program’s P45.839 billion allocation is for the construction of 15,208.83 lineal meters of bridges and maintenance, retrofitting, repair, and rehabilitation, as well as the widening of 525 existing bridges. A separate budget of P13.968 billion is allocated to the Tourism Road Infrastructure Program which will provide access roads leading to declared tourism destinations. Moreover, an allocation of P10.020 billion will be for the Roads Leveraging Linkages for Industry and Trade Infrastructure Program; Tatag ng Imprastraktura para sa Kapayapaan at Seguridad (TIKAS) Program for military and police facilities, P3.8 billion; Special Road Fund for the construction, upgrading, repair, and rehabilitation of roads, bridges, and road drainage, P15.232 billion. The post DBM allots P822B to infrastructure development appeared first on Daily Tribune......»»
DBM allots P12.9B for various job creation programs
The Department of Budget and Management has earmarked P12.919 billion for the Department of Labor and Employment's (DOLE) initiative, 'Tulong Panghanapbuhay sa Ating Disadvantaged Workers' (TUPAD) program in the 2024 National Expenditure Program (NEP) to bolster job creation for Filipinos. In a statement on Thursday, DBM said the Livelihood and Emergency Employment Program of DOLE will receive P16.4 billion, from which the Tulong Panghanapbuhay sa Ating Disadvantaged Workers (TUPAD) Program will receive P12.92 billion. The TUPAD program, a community-based assistance package providing emergency employment, is expected to benefit over 1.358 million displaced, underemployed, and seasonal workers. "We are strengthening social protection measures to ensure that no one will be left behind, especially the marginalized and vulnerable sectors," Department of Budget and Management Secretary Amenah F. Pangandaman said. TUPAD provides occupation to Filipinos for a minimum period of 10 days to a maximum of 90 days, depending on the nature of the work to be performed. All disadvantaged workers aged 18 and older are qualified as TUPAD program beneficiaries. Senior citizens are also eligible for the program, provided that they are fit to work and would not engage in hazardous work. Meanwhile, only one member per family shall be eligible for the assistance. In no instance shall the beneficiaries be availed of more than once in a calendar year, except in cases of natural or human-induced disaster or calamity. Furthermore, DOLE’s Government Internship Program (GIP), which aims to provide opportunities to 13,554 youth beneficiaries, was allocated P807.716 million in the proposed 2024 NEP. On the other hand, the DOLE Integrated Livelihood Program (DILP), which will benefit 63,959 marginalized workers, was allotted P2.3 billion, while P407 million was earmarked for the Adjustment Measures Program. The post DBM allots P12.9B for various job creation programs appeared first on Daily Tribune......»»
Meralco bumps up RE source shift
The Manila Electric Company or Meralco has secured 1,880 megawatts or MW of renewable energy capacity — surpassing its initial target of 1,500 MW under the Renewable Portfolio Standards or RPS policy. The company reiterated over the weekend that increasing a portion of its supply portfolio from renewable energy is an integral part of its long-term sustainability strategy. “We will continue to elevate and evolve our sustainability initiatives as we implement our long-term sustainability strategy that involves the adoption of next-generation clean technologies and deep decarbonization efforts as we aspire to be coal-free by 2050,” Meralco first vice president and chief sustainability officer Raymond Ravelo said. Through Meralco’s strategic sourcing initiatives, renewable energy is expected to account for 22 percent of the distribution utility’s supply portfolio by 2030, and 18 percent of Meralco’s retail electricity supplier, MPower, by 2025. This will eventually allow the company to reduce its total carbon emissions by 15 percent vis-à-vis its projected baseline 2030 emissions, in line with its energy transition commitment. 35 percent RE by 2030 Under the RPS Policy, electricity suppliers are mandated to source a portion of their requirements from RE given the government’s goal to increase the share of clean energy in the country’s energy mix to 35 percent by 2030 and 50 percent by 2040. Currently, the RPS requirement is set at +2.52 percent per annum. Amid an aggressive sustainability drive, Meralco PowerGen Corp. or MGen, the power generation arm of Manila Electric Co. or Meralco, recently announced that it earmarked P18 billion to accelerate its renewable energy expansion. The investment will bankroll the development of over 2 gigawatts or GW of gross RE capacity from solar and wind power — targeted to be delivered by the end of the decade or by 2030. The allotted budget will also help MGen and its renewable energy unit MGen Renewable Energy or MGreen augment its RE capacity to 1,500 MW as it will fund investments in larger green energy projects, including those with battery energy storage systems. The post Meralco bumps up RE source shift appeared first on Daily Tribune......»»
Clip OWWA’s wings
As the pandemic is over, the Commission on Audit should go into a more detailed scrutiny of the huge amount that the government allotted to the Overseas Workers Welfare Administration totaling P17.36 billion in the Emergency Repatriation Fund or ERF. State auditors did not question the use of the ERF and even commended OWWA for the use of the fund in response to the coronavirus plague. As a result of the urgency of the situation and the provisions of the Bayanihan laws exempting purchases from the Government Procurement Reform Act, the CoA did not have the full accounting arsenal to look into the purchases. The huge amount involved and the previous experiences with the OWWA should require a double-check. According to the CoA 2022 report, of the P17,367,559,655.88 OWWA received for the ERF, P17,367,559,406.09 or 99.9999986 percent was utilized for accommodations, transportation, financial assistance, and other Covid-19 incidental expenses of repatriated overseas Filipino workers or OFWs. In several instances, OWWA even exceeded its budgeted ERF and had to draw from the succeeding year’s budget. CoA indicated that P2.3 billion was used to pay for expenses incurred in 2020 that were not covered by that year’s budget. The overshoot increased to P5.035 billion for 2021 since CoA said the expenses were not obligated and were paid through the 2022 budget. CoA, initially in the 2020 report that looked into 2019 transactions not covered by the Bayanihan law’s procurement law exemptions, questioned the purchase of hygiene kits and sanitary napkins totaling P822,420 from a construction store in Pasay City “which cannot be found in the address stated.” Upon further probe by the CoA, it was found that the supposed hardware store was fictitious and the address was that of a private residence. Then OWWA Administrator Hans Cacdac had a hard time explaining the purchase of the feminine kits from a hardware store, more so that it couldn’t be found at the address. CoA also found that the procured hygiene kits, which were not itemized, were outrageously priced at P160 each, while the sanitary napkins were priced at up to P35 per pad. Cacdac promised an internal investigation which was something that was lost in the swirl of the global emergency that erupted in early 2020. That was when the ERF was bolstered with allocations from the national budget and Bayanihan laws 1 and 2. The ERF was extensively used previously to repatriate OFWs from war zones. According to the CoA 2022 report, of the P17.37 billion ERF, P13.3 billion was used for hotel accommodations, P449 million for food, P3.6 billion for travel expenses, P9.7 million for subsidies, P5.5 million for supplies, P2.4 million for hospitalization, drugs and medicine, P15.1 million for cremation services, and P90,200 for other expenses. OWWA, in a long-winded acknowledgment of the initial CoA clearance of the use of the funds, was quick to give credit to its suppliers who, it said, “were a huge help to us in the government in extending help to all Filipinos.” It then concluded, without CoA’s express acknowledgment, that the ”payables in 2020 are legal.” Several of the items in the ERF, however, would have to be checked as returning workers during the pandemic did not benefit from the program as they had to pay through their noses the hotel bills and other myriad health processes during the quarantine period as the pandemic raged. No one could recall travel expenses being paid for by OWWA to bring those in distress home. Even the pernicious nasal tests had to come out of the pockets of the migrant workers, at an overprice, as some had to shell out P10,000 for a single test. Also, overspending the ERF budget for a year should be checked since OWWA collects billions of pesos yearly with its membership fee of $25 paid every two years by each OFW. The catch in the OWWA collections is that you’ll never know the privileges and benefits due a member unless you spend time researching it which the busy migrant workers don’t have. OWWA membership is mandatory as the fee is a required item on the departure slip of an OFW. Most overseas workers will attest that they never interacted with CoA unless it involved the payment of fees and, of course, making them go through the expensive quarantine process during the health emergency. There was a plan to abolish the OWWA since its functions overlap with agencies such as the Philippine Overseas Employment Agency and the Department of Labor and Employment. It is time to hold an earnest review of the abolition proposal. The post Clip OWWA’s wings appeared first on Daily Tribune......»»
DBM earmarks over P80-B to BARMM
The Department of Budget and Management has set an P80.6-billion fund for the Bangsamoro Autonomous Region in Muslim Mindanao under the proposed 2024 National Budget as the government vows to continue rebuilding war-torn Marawi and secure peace and economic growth in the region. In a statement on Thursday, the DBM said the total fund consists of the region’s share from the national revenue worth P75.6 billion and P5 billion for special development projects. The total allocation represents P5.3 billion for social development and infrastructure projects, including P4.21 billion for roads and bridges, P569 million for water supply and P35 million for fish ports. Meanwhile, war victims of Marawi City can receive a total of P1 billion as tax-free compensation. “This strategic initiative enables the Marawi Compensation Board to deliver tax-exempt compensation to all eligible claimants who have suffered property and personal possession damage as a result of the 2017 Marawi Siege,” the DBM said. Marawi City is the biggest Muslim city in the predominantly Catholic Philippines terrorized by rebel groups Abu Sayyaf and Maute. As peace has been restored and protected in BARMM, DBM has allotted P5 million for the activities of the region’s Professional Regulations Commission Regional Office XII. The post DBM earmarks over P80-B to BARMM appeared first on Daily Tribune......»»
Cebu council pries pending flood control project
The Cebu City Council had raised an inquiry on what happened on a certain flood control project which was paid P199.32 million in advance last 15 June 2021. North District city councilor Jerry Guardo — who also chairs the committee on infrastructure — disclosed that the winning contractor identified as A.M. Oreta has not yet executed the task since the project contract was awarded to them on 15 April 2021. To recall, the Commission on Audit described as “excessive” the advance payment of P199.32 million — a portion of the total project cost of P1.328 billion for flood control projects. In his privilege speech, Guardo requested the council to call for an executive session to find out from different stakeholders — especially the winning contractor, the city legal officer and city engineers — the causes of the delays in the project’s implementation. DAILY TRIBUNE tried to get the side of A.M. Oreta but has yet to reply. “This is to inform us about any lapses, violations as to why until now the contractor did not comply with the contract,” Guardo said. He revealed that the contractor had been invited to attend the regular session scheduled last 16 August but did not attend the session and instead requested to postpone their appearance to a later date. The P1.328 billion was allotted to enhance and restore the current drainage system in Cebu City with a specific focus in the south district. According to state auditors, the contract was signed for a flood control system involving the construction of drainage mains at Cabreros Street-N. Bacalso Avenue-V.H. Garces Street, A. Gabuya Street and Leon Kilat Street-Escano Street in Cebu City. Guardo cited that 80 percent of the budget was designated for addressing flooding issues in the south such as barangays Cogon Pardo, Basak, San Nicolas, Cabreros and Mambaling and in an area near a mall on N. Bacalso Avenue which extends toward Carbon Public Market while the remaining 20 percent was allocated for the north district. The post Cebu council pries pending flood control project appeared first on Daily Tribune......»»
P2 billion allotted for cancer treatment, patient support in proposed 2024 budget
The cancer assistance fund will partially cover both outpatient and inpatient cancer control services......»»
Meralco infusing P18B for RE bid
Amid an aggressive sustainability drive, Meralco PowerGen Corp. or MGen, the power generation arm of Manila Electric Co. or Meralco, has earmarked P18 billion to accelerate its renewable energy or RE expansion. The company disclosed over the weekend that the investment will bankroll the development of over 2 gigawatts or GW of gross RE capacity from solar and wind power — targeted to be delivered by the end of the decade or by 2030. The allotted budget will also help MGen and its renewable energy unit MGen Renewable Energy or MGreen augment its RE capacity to 1,500 MW as it will fund investments in larger green energy projects, including those with battery energy storage systems. MGen started its journey towards a balanced, low-carbon energy mix through the opening of BulacanSol’s 55 MWac solar plant located in San Miguel, Bulacan in 2021. MGreen currently has an RE portfolio that also includes the 68MWac solar farm in Currimao, Ilocos Norte with Vena Energy’s Pasuquin Energy Holdings Inc. and the PH Renewables Inc.’s or PHRI 75 MWac solar farm in Baras, Rizal with Mitsui & Co.’s Mit-Renewables Power Corp. PHRI recently completed the commissioning tests for Phase 1 of its project involving 67.5 MWac which is scheduled for commercial operations by mid-August 2023. Phase 2 of the project is targeted to be operational by mid-2024. MGen president and CEO Jaime T. Azurin said the company is currently assessing other possible RE developments that it could take on in the future. It is aligned with One Meralco’s target to reduce its direct emissions by 20 percent through 2030 as it drives to be coal-free before 2050. Collaboration continues “We will continue to work with the energy industry, government, and other pertinent stakeholders to help further accelerate the country’s energy transition as we aggressively pursue more renewable energy projects,” Azurin said. This is in line with Meralco’s long-term sustainability strategy to embark on a just, affordable, and orderly transition to clean energy,” he added. These include the two solar projects: the 49MWac solar plant in Cordon, Isabela; and the 18.75 MWac solar plant in Bongabon, Nueva Ecija — both of which are among the winning bidders in the Department of Energy’s second round of Green Energy Auction Program. Based on the targets set by the DoE, the share of renewable energy in the country’s energy mix should increase to 35 percent by 2035 and 50 percent by 2040. However, it is still notable that despite an aggressive stance on clean energy use, the Philippines still relies heavily on coal. Coal, which is cheaper compared to other forms of power but more detrimental to the environment, is still the highest contributor to the power generation mix at nearly 60 percent. Renewable energy only takes a little over 20 percent of the mix as of last year. The post Meralco infusing P18B for RE bid appeared first on Daily Tribune......»»
PLDT taps U.S. firm for digital services
Integrated telecommunications firm PLDT Inc. is tapping a US-based multinational solutions provider to explore building and launching local digital solutions to ramp up services to customers. In a report to the stock market, PLDT disclosed that it is in “advanced talks” with Radisys Corp., a subsidiary of Jio Platforms Limited. “As part of PLDT’s purpose to inspire innovation and our mission to deliver meaningful connections for all our customers, we look forward to closely working with Radisys to help us usher in more immersive and exciting digital experiences for tech-savvy Filipinos as we look into the future,” PLDT and Smart president and CEO Alfredo S. Panlilio said in the report. Radisys helps companies design, industrialize and deploy a range of cutting-edge networking, communications, devices, and digital engagement platforms. According to Radisys president and CEO Arun Bhikshesvaran, the company is ready to tap into its broad range of solutions to “successfully launch similar innovations in India as we embark on this strategic alliance with PLDT.” The partnership, once it comes to fruition, is also expected to boost PLDT’s operations as it aims to regain its leading position in the mobile market, especially as the final SIM registration number showed that the telco firm is still a bit behind its main rival Globe Telecom, Inc. Based on the latest data from the National Telecommunications Commission or NTC as of 30 July, Smart had 52.5 million registered subscribers as of 30 July — slightly lower than Globe with 52.73 million. After losing its leading position in 2016, the PLDT Group is working on winning back its market dominance in the mobile market, especially as the final SIM registration number showed that the telco firm is still a bit behind its main rival Globe Telecom Inc. During the first half of the year, PLDT Inc. booked a 10-percent increase in net income to P18.5 billion, from P16.8 billion last year due to lower operating margins and a slight increase in total revenues. Total revenues grew by 3 percent to P104 billion from P100.8 billion, while expenses declined by 19 percent to P78.3 billion from P97.1 billion. PLDT has allotted around P80 billion and P85 billion for its capital investments this year. It aims to end the year with a telco core income of between P33.5 billion and P34 billion. The post PLDT taps U.S. firm for digital services appeared first on Daily Tribune......»»
PLDT, Radisys firms up digital solutions deal
Integrated telecommunications firm PLDT, Inc. is tapping a US-based multinational solutions provider to build and launch digital solutions to ramp up services to customers. In a stock report on Tuesday, PLDT disclosed that it is in “advanced talks” with Radisys Corp., a subsidiary of Jio Platforms Limited. “As part of PLDT’s purpose to inspire innovation and our mission to deliver meaningful connections for all our customers, we look forward to closely working with Radisys to help us usher in more immersive and exciting digital experiences for tech-savvy Filipinos as we look into the future,” PLDT and Smart President and CEO Alfredo S. Panlilio said in the report. Radisys helps companies design, industrialize and deploy a range of cutting-edge networking, communications, devices, and digital engagement platforms. According to Radisys President and CEO Arun Bhikshesvaran, the company is ready to tap into its broad range of solutions to “successfully launch similar innovations in India as we embark on this strategic alliance with PLDT.” The partnership, once it comes to fruition, is also expected to boost PLDT’s operations as it aims to regain its leading position in the mobile market, especially as the final SIM registration number showed that the telco firm is still a bit behind its main rival Globe Telecom, Inc. Based on the latest data from the National Telecommunications Commission or NTC as of 30 July, Smart had 52.5 million registered subscribers as of 30 July — slightly lower than Globe with 52.73 million. After losing its leading position in 2016, the PLDT Group is working on winning back its market dominance in the mobile market, especially as the final SIM registration number showed that the telco firm is still a bit behind its main rival Globe Telecom, Inc. During the first half of the year, PLDT, Inc. booked a 10-percent increase in net income to P18.5 billion, from P16.8 billion last year due to lower operating margins and a slight increase in total revenues. Total revenues grew by 3 percent to P104 billion from P100.8 billion, while expenses declined by 19 percent to P78.3 billion from P97.1 billion. PLDT has allotted around P80 billion and P85 billion for its capital investments this year. It aims to end the year with a telco core income of between P33.5 billion and P34 billion. The post PLDT, Radisys firms up digital solutions deal appeared first on Daily Tribune......»»
First border inspection facility for agri to rise in Bulacan
The Department of Agriculture over the weekend said it had partnered with Pacific Roadlink Logistics Inc. (PRLI) for the construction of the country’s first border inspection facility on its property at General Alejo Santos Highway in Angat, Bulacan. On July 20, the DA and PRLI signed a Memorandum of Understanding (MOU) for the establishment of the Cold Examination Facility in Agriculture (CEFA), which will house state-of-the-art testing laboratories for the examination of all imported animal, fish, plant, and other agricultural commodities. The MOU signing was led by DA Senior Undersecretary Domingo F. Panganiban, Senate Committee on Agriculture Chairperson Senator Cynthia A. Villar, House Committee on Agriculture Mark Enverga, and PRLI President Edgar Dominic Milla. “We must continuously assert our vigilance in protecting the industry from pests and diseases that pose serious threats to agricultural productivity in the country. This partnership is a testament to our commitment,” Panganiban said. The Department allotted P2.3-billion in its 2023 budget for the construction of the said facility, which would include hubs in Cebu and Davao. The CEFA aims to strengthen the country’s capability to conduct first border inspections and improve its examination of containerized agricultural commodities. It also seeks to prevent the proliferation of agricultural smuggling. Under the MOU, the PRLI allows the government to use for a maximum of 25 years, its 10-hectare land for the CEFA, which will include a laboratory, incinerator, container yard, and truck parking, among others. The facility will be operated by the DA’s Food Safety and Regulatory Agencies (FSRA): Bureau of Animal Industry (BAI), Bureau of Plant Industry (BPI), Bureau of Fisheries and Aquatic Resources (BFAR), and National Meat Inspection Service (NMIS). “Consistent with the President’s vision of a prosperous Philippine agricultural sector, we will continue to work to ensure the completion of this project so that we could protect our industry and the many people who depend on it, including the health of our consumers, as the project is deemed to warrant the food safety for the general populace,” Assistant Secretary James Layug said. Meanwhile, BAI and CEFA Project Director Paul Limson said the construction is expected to be finished within 6 to 8 months. The facility will initially function as a 24-hour Off-Dock Custom Facility to handle agricultural importations from the country’s two main ports: Port of Manila and Manila International Container Port. Apart from protecting livelihood and ensuring quality and safe food for Filipinos, the said facility is anticipated to create jobs and bring about economic transformation to the province of Bulacan. Once operational, the facility is expected to employ about 1,500-2,000 unskilled workers in the province. In her message, Senator Villar announced that the national government will set aside budget for the construction of CEFA to other areas particularly in Southern Luzon. The post First border inspection facility for agri to rise in Bulacan appeared first on Daily Tribune......»»
BFP gives 6 brand new firetrucks to LGUs
The Bureau of Fire Protection (BFP) turned over on Tuesday, July 4, six of the 94 firetrucks to the recipient local government units (LGUs) during simple rites as part of its ongoing regular procurement plan this year. The event was graced by Senator Aquilino ‘Koko’ Pimentel III who was the guest of honor and the recipient mayors of the emergency vehicles attended the turnover rites at the BFP National Headquarters in Quezon City. “Your chief (Chief Supt. Louie Puracan) and his staff gave me convincing and good answers in your budget hearing that led me to support the BFP. Hence the realization of the distribution of these firetrucks," Pimentel said in his message. The BFP has been allotted P1.4 billion this year for the procurement of the firetrucks with the latest vehicle purchases amounting to P14.5 million per unit. “Lives and properties lost in destructive fires have a five-year average of 300 deaths and around P5 billion in damages,’’ the BFP said in a statement. For the estimated 117 million people in the country, the BFP needs around 4,191 firetrucks based on the international standard of one unit of a firetruck for every 28,000 population. Currently, the BFP has an existing 2, 799 firetrucks which are 1,392 less than the ideal number excluding this latest procurement. “In effect, every firetruck purchased is a welcome addition to the fleet of the BFP,’’ the BFP added. The fruits of Republic Act (RA) 11589 of the BFP Modernization Act of 2022 is anticipated to be felt in the next few years with the establishment of modern fire protection services across the land. “The BFP-National Headquarters Bids and Awards Committee (BAC) said that the bidding was published on March 8, 2022, awarded last 15 September 2022 and finally delivered to the agency for distribution on June 2023,’’ the BFP said. The BFP explained that the firetrucks are fully equipped with firefighting equipment like “the complete sets of the firefighters’ personal protective equipment (PPE), self-contained breathing apparatus (SCBA), fire fighting hoses and nozzles, foam-generating nozzle with alcohol-resistant-aqueous film forming foam (AFFF) and other firefighting operations tools and accessories designed using the appropriate fire service standards adaptable to Philippine conditions.’’ The brand-new Hino trucks are also equipped with 240 HP Euro-4 compliant engines, 4,000 liters’ water tank with 200-liter foam tank, power take-off engine with 250 liters per minute at normal pressure discharge, and 3,000 liters per minute at normal pressure discharge. “The vehicles are manufactured according to international standards and specifications set as appropriate by the BFP’s technical working group (TWG),’’ the BFP assured. Meanwhile, the BFP pointed out that the Commission on Audit (COA) has approved the BFP Modernization Program which includes the procurement of these firetrucks in June 2023. Based on the COA report, the BFP’s actions in setting technical requirements aligned with the bureau’s modernization program and the adoption of modern methods were justified, with the commission also recommended that the government should strengthen its fire suppression campaign in tandem with the strengthening of its capabilities. The post BFP gives 6 brand new firetrucks to LGUs appeared first on Daily Tribune......»»
Vivant eyes wind energy for RE goal
After its recent buyout of a solar asset, Vivant Energy, a wholly owned subsidiary of Cebu-based listed firm Vivant Corporation, is now eyeing to venture into wind energy development to achieve its renewable energy targets. Vivant president Emil Andre Garcia, during an annual meeting this week, disclosed that the company has committed to help unlock the country’s budding wind power potential through investments. “Vivant Energy is committed to playing a meaningful role in energy transformation and to accelerate growth and improvement of power services in the country,” Garcia said. ESG at the forefront of company strategy “As we look back at the challenges and achievements that propelled us to continue to improve everyday living for the past 20 years, we put environmental, social, and governance, or ESG at the forefront of our strategy to achieve long-term sustainable profits,” he said. In demonstrating its commitment to sustainability, Garcia said Vivant Energy allotted P21 billion, or about 75 percent of its total spending up to 2030, to bankroll clean energy projects. The company targets to have 30 percent renewable energy in its power generation portfolio by 2030 — aligned with the company’s ESG framework. Vivant Energy recently acquired San Ildefonso Alternative Energy Corporation, which will develop a 22-megawatt or MW solar power plant in Bulacan. Another fully owned subsidiary, COREnergy, contributes to the renewable energy target by growing its rooftop solar business from 2 MW to 6 MW in 2022. Solar rooftop generation COREnergy, a retail company that offers total energy solutions to commercial and industrial establishments, aims to add 18MW of solar rooftop generation capacity by the end of the year. Notably, Vivant Energy’s recent acquisition of the shares of its partner Gigawatt Power Inc. in companies operating and owning power plants in off-grid areas will also play a vital role in contributing to the entire group’s social and economic development. The company now has full ownership of Isla Mactan Power CCorporation, which operates the 23.3-MW diesel power plant that provides stable and reliable power in Bantayan Island, Cebu. Vivant Energy has investments in energy generation, retail electricity supply, and energy-related engineering solutions in Luzon, the Visayas, and Mindanao. The post Vivant eyes wind energy for RE goal appeared first on Daily Tribune......»»
Vivant Energy eyes wind dev’t foray
After its recent buyout of a solar asset, Vivant Energy, a wholly owned subsidiary of Cebu-based listed firm Vivant Corporation, is now eyeing to venture into wind energy development to achieve its renewable energy targets. Vivant President Emil Andre M. Garcia, during an annual meeting this week, disclosed that the company has committed to help unlock the country's wind power potential through investments. “Vivant Energy is committed to playing a meaningful role in energy transformation and to accelerate growth and improvement of power services in the country,” Garcia said. “As we look back at the challenges and achievements that propelled us to continue to improve everyday living for the past 20 years, we put environmental, social and governance, or ESG at the forefront of our strategy to achieve long-term sustainable profits,” he said. In demonstrating its commitment to sustainability, Garcia said Vivant Energy allotted P21 billion, or about 75 percent of its total spending up to 2030, to bankroll clean energy projects. The company targets to have 30 percent renewable energy in its power generation portfolio by 2030 — aligned with the company’s ESG framework. Vivant Energy recently acquired San Ildefonso Alternative Energy Corporation, which will develop a 22-megawatt or MW solar power plant in Bulacan. Another fully owned subsidiary, COREnergy, contributes to the renewable energy target by growing its rooftop solar business from 2 MW to 6 MW in 2022. COREnergy, a retail company that offers total energy solutions to commercial and industrial establishments, aims to add 18MW of solar rooftop generation capacity by the end of the year. Notably, Vivant Energy’s recent acquisition of the shares of its partner Gigawatt Power Inc. in companies operating and owning power plants in off-grid areas will also play a vital role in contributing to the entire group’s social and economic development. The company now has full ownership of Isla Mactan Power Corporation, which operates the 23.3-MW diesel power plant that provides stable and reliable power in Bantayan Island, Cebu. Vivant Energy has investments in energy generation, retail electricity supply, and energy-related engineering solutions in Luzon, the Visayas and Mindanao. The post Vivant Energy eyes wind dev’t foray appeared first on Daily Tribune......»»
Volatile mart delays Ovialand IPO anew
The planned P2.2-billion initial public offering of real estate developer Ovialand Inc., builder of premium affordable housing, was once again pushed to the back burner due to volatility in the local and global markets. Ovialand on Wednesday confirmed that launching its maiden offering, which was supposed to provide the company additional financial backbone to take on more projects, “is not the best option” at the moment. “Ovialand has always been about creating value for everyone we serve — whether it be our homebuyers, organization, business partners, and shareholders. We want our IPO to be a testament to this principle,” Ovialand president and CEO Pammy Olivares-Vital said. Consulted with the underwriter The company noted that before fully deciding to push back the IPO and wait for better market conditions, it consulted with SB Capital Investment Corporation, the sole underwriter for the offering. According to Virgilio Chua, President and CEO of SB Capital, the parties will “aim to find the most suitable vehicle for our client to achieve growth.” “We will continue to work and support Ovialand so that all options are available to maximize their long-term growth potential,” Chua added. Bankroll land banking activities Part of the proceeds was supposed to bankroll the company’s land banking activities in South Luzon and finance other real estate projects in the pipeline. On the other hand, some of the IPO money was initially allotted to support “general corporate purposes.” Ovialand first announced its plan to debut at the local capital market as early as 2021 but the “volatile market conditions” seems to always get in the way. The post Volatile mart delays Ovialand IPO anew appeared first on Daily Tribune......»»
DITO packaging $1.17-B China loan
DITO Telecommunity Corp. expects to complete the renewal of its $1.175-billion loan from Bank of China and the China Minsheng Bangking Corp. this year. “The bridge facility is to be repaid and absorbed via a $3.9 billion project finance long-term facility currently being finalized by DITO Tel’s senior management, with target closing this year,” DITO parent company DITO CME Holding Corp. said in a stock report on Friday. Early this year, DITO said it will pursue capital infusions on top of cost-cutting measures to prevent losses from piling up. According to DITO, telecommunications is a capital-intensive business due to the required infrastructure for its network operations. With only three years in operations, the company is still not yet profitable given this nature. P27-B capex for year For this year, the company plans to only spend P27 billion to bankroll network buildup and commitments to the government. Although the capital expenditure allotted was way lower than the P50 billion spent last year, the company said it is still within the spending range committed to the government as the third telco. In September 2022, DITO passed its third government-mandated technical audit measuring its compliance with its network coverage and internet speed commitments. As part of the issuance of its Certificate of public convenience and necessity in July 2019, DITO needs to record 70.01 percent network reach with a minimum speed of 55 Mbps in the third year of its commitment period. If DITO fails to fulfill its commitments on time, the government forfeits, in its favor, the P25.7 billion performance bond that DITO paid before construction activities. DITO has promised to cover 84 percent of the Philippines and offer a minimum average speed of at least 55 Mbps by the end of its commitment. The post DITO packaging $1.17-B China loan appeared first on Daily Tribune......»»