2 billion na halaga ng proyekto, inaasahan sa 2021 national budget – Cong. Sanchez
Virac, Catanduanes – Nakatutok sa ngayon si Congressman Hector Sanchez sa sa deliberation sa House of Representatives para sa 2021 national budget. Ayon sa Kongresista, umaabot sa humigit kumulang dalawang bilyong piso (2 Billion) ang budget para sa mga proyekto sa lalawigan ng Catanduanes na kanyang isinusulong. Sa panayam ng Bicol Peryodiko, sinabi […].....»»
Bong Go asks for accomplishment report of DPWH’s flood control projects
Senator Christopher "Bong" Go stressed on August 9, Wednesday, the need for accountability, strategic prioritization, and long-term solutions to address recurring problems in flood-prone areas during a Committee on Public Works hearing on the country's flood control master plan and outstanding projects. “Yun lang po sir ang tatlong hiningi ko: (1) accomplishment report, (2) copy of master plan at (3) prioritization dito sa mga flood control projects ninyo po na dapat po’y makinabang yung mga lugar na dapat makinabang – yung mga flood prone areas,” he asked during the hearing. Go asked DPWH for an accomplishment report detailing the flood control initiatives undertaken during former president Rodrigo Duterte's term. He also requested a copy of the master plan outlining both current and upcoming projects. The senator said the budget allocated for flood control continues to increase from P82 billion in 2019, 80.7 billion in 2020, 90.9 billion in 2021, 127.4 billion in 2022, 182 billion in 2023, and now with a proposed budget of P215.6 billion for 2024, not including foreign assisted projects and those funded by the private sector. “Ibig sabihin, tumataas po ‘yung budget ninyo for flood control. Pero ‘di pa rin po nabibigyan ng solusyon ang problema sa pagbaha,” he stated, indicating a broader concern about the strategy and effectiveness of flood control projects in the country. The senator also expressed confusion and concern over the prioritization of some flood control projects, questioning why some areas with little or no population receive flood control measures while highly populated areas still suffer from recurring floods. “Despite having flood control projects initiated or requested by legislators and local officials, ang expertise ay nasa DPWH. Kayo dapat ang magsabi kung ano ang tama at mali, kung saan ba dapat ilagay ang flood control, slope protection at iba pang proyekto, at kayo ang dapat nakakaalam paano masolusyunan ang paulit-ulit na pagbaha sa bansa,” Go stressed. In response, DPWH Secretary Manuel Bonoan said there is a need to protect the environment and production areas but agreed that populated areas should be prioritized. Go said “yung nakikita ko minsan, maraming mga flood control, eh, may bundok namang nagpo-protection sa kanila.” “Eh, dito sa mga patag na lugar — halimbawa itong Bulacan — halos walang bundok ito. Walang nagpo-protect sa kanila sa mga umaagos na malalakas na tubig mula sa taas ng bundok. Eh, ‘yun pa ang kulang-kulang sa flood control. Maybe just check your prioritization plans,” added Go. The senator's call for action originated not only from a practical perspective but also from a compassionate stance. He acknowledged the difficulties faced by the citizens affected by flooding and said "ang hirap mabahaan, parang back to zero na naman po sila," underscoring the challenges of recovery. “Para po silang nasunugan, kaya lang pinagkaiba, makalabas pa rin sila, pero mahirap, sira yung gamit, basa dito, sasakyan, basa yung mga telebisyon nila, parang nag-umpisa po muli sila,” added Go. Go recalled how, during the time of former president Duterte, the administration had insisted on an equitable distribution of the budget for all regions, whether for flood control or any infrastructure. “Talagang gusto niya, hinayaan niya po ang departamentong mag-determine kung saan ‘yung priority niya talaga at nangangailangan,” said Go. “Pakiusap ko lang po sa inyo, full support naman po ako sa inyong opisina, ever since noon pa. Ayusin lang po ‘yung prioritization at ‘wag pong mapabayaan itong mga lugar na flood prone po talaga,” he added. Meanwhile, Go also highlighted the need to address compensation for right-of-way claims, especially for those who are less wealthy and struggle to have their claims recognized. “In relation to DPWH projects… gusto ko lang po malaman, itong prioritization ng pagbabayad ng right-of-way… kase ‘yung mayayaman, balewala sa kanila ‘yun. May mga may hawak ng titulo, halos namamatay na lang na hindi na-claim. Mga isang kahig, isang tuka, nasa bundok, natatamaan ‘yung kalye nila, ‘yung hindi binabayaran,” said Go. “Ano po ba ang prioritization rito sa right-of-way? Lalo na ‘yung mga maliliit. ‘Yun ang napansin ko. Pabalik-balik na, years hindi pa nababayaran,” he added. Bonoan acknowledged the importance of prioritizing all acquired properties and explained the challenges in budgeting for right-of-way compensations. He revealed that the allocated budget for these compensations has been very minimal over the past three years, with only a fraction of the requested amount being granted. Go’s demands for transparency and prioritization in flood control projects were made considering recent flooding incidents across Luzon due to heavy rains brought by tropical cyclones Egay and Falcon as well as the Southwest Monsoon or Habagat. His teams have been going around these areas to provide relief to affected communities particularly in Cagayan, Ilocos Norte, Ilocos Sur, Pangasinan, La Union, Zambales, Pampanga, and Bulacan. “Ang suliraning ito ay nagpapakita lamang ng kahalagahan ng masusing pag-aaral at aksyon upang maisaayos ang flood control strategies sa ating bansa. Sa likod ng mga hamong ito, patuloy tayo sa paghahanap ng mga karampatang solusyon para sa matagal nang problemang ito,” he said. #### The post Bong Go asks for accomplishment report of DPWH’s flood control projects appeared first on Daily Tribune......»»
DBM: P2T in loans to prop up ‘24 budget
The Department of Budget and Management yesterday confirmed the government will borrow over P2 trillion to fund part of the proposed P5.768-trillion national budget for 2024. The fresh borrowing would increase the national debt to above P16 trillion, which equates to P145,339 in debt for each of the 110 million Filipinos, up from P129,798 at the current level of the nation’s overall debt of P14.1 trillion. According to DBM, the borrowing program for 2024 is valued at P2.46 trillion, or 11.46 percent more than the borrowing program for 2023, which stood at P2.207 trillion. The borrowing plan for next year is made up of gross domestic borrowing of P1.853 trillion and gross foreign borrowing of P606.85 billion. In a Palace press briefing, DBM Undersecretary Joselito Basilio said the planned borrowing is “consistent with the medium-term fiscal framework.” The Marcos government has borrowed P1.327 trillion as of the end of June this year. This brought the country’s total sovereign debt to a new record high of P14.15 trillion as of the end of June 2023, up 0.4 percent from the end of May, when it was P14.10 trillion. The Duterte administration also embarked on an aggressive borrowing spree to fund its response and recovery efforts as the pandemic-induced lockdown triggered economic contractions in 2020 throughout the middle of 2021. Debt-GDP ratio Basilio said the government’s borrowing program will gradually decline as the country recovers from the Covid-19 pandemic. “From now until 2025 and 2026, (the government’s borrowing) will peak… by 2027 and 2028, it will go down,” he said. He said the government also aims to reduce the debt-to-gross domestic product or GDP ratio to less than 60 percent by 2025, then further down to 51.1 percent in 2028, and reduce the budget deficit to 3.0 percent of GDP by 2028. The debt-to-GDP ratio represents the amount of the government’s debt stock relative to the size of the economy. As of the first quarter of 2023, the country’s debt-to-GDP ratio stood at 61 percent, down from 63.5 percent in the first quarter of 2022. The Philippines ended 2022 with a debt-to-GDP ratio of 60.9 percent, down from 63.7 percent as of the third quarter of last year — a 17-year high or the highest since 2005. This is the highest debt-to-GDP ratio since 2005 when it hit 65.7 percent, well over the internationally recommended threshold of 60 percent. The post DBM: P2T in loans to prop up ‘24 budget appeared first on Daily Tribune......»»
Tobacco on list of agri products in proposed economic sabotage law, says Villar
Senator Cynthia Villar assured that tobacco is included in the list of agricultural products covered by her proposed Anti-Agricultural Economic Sabotage Act of 2023. She said the proposed measure would amend the Anti-Agricultural Smuggling Act to include hoarding, profiteering, and a cartel of agricultural products as "economic sabotage." “Tobacco will be included in the agricultural products covered by this law,” Villar, who is chairperson of the Senate Agriculture and Food Committee, made the assurance during the International Tobacco Agricultural Summit held at Shangri-La Hotel in Taguig City on Thursday, where she was the guest speaker. Citing a report from the National Tobacco Administration, Villar noted that the tobacco industry contributes to employment and revenue generation in the country, supporting around 2.2 million Filipinos directly or indirectly. The lawmaker added that tobacco has contributed nearly P16 billion to the country's gross domestic product in 2021. The Oxford Business Group's Economic Impact Report showed that tobacco cultivation was present in 23 provinces across 12 regions in the Philippines, with the Ilocos Region being the top producer at 69 percent, followed by Cagayan Valley at 23 percent, and Northern Mindanao ranking third, as of April 2022. Villar underscored the industry's significance to rural economies is highlighted by a 47.8 percent increase in the area planted for tobacco between 2019 and 2022. Since 2013, she said the implementation of sin taxes for tobacco and alcohol, resulted in additional funds for the national health budget, including Universal Health Care. The sin tax revenue, primarily from tobacco collections (mainly cigarettes), accounted for 58 percent of all sin tax collections and comprised 54 percent of the health budget in 2020. "Tobacco-producing provinces receive shares from tax collected to be used in funding livelihood programs, infrastructure projects, and promote economically viable alternative agricultural products for the farmers," she said. However, Villar noted that tobacco—like any other agricultural product— is not spared from criminal activities like smuggling and tax evasion. Such crimes, she said, undermine the livelihood of farmers by "saturating the market with cheap, adulterated, and untaxed products.” The Bureau of Customs earlier reported an estimated P3 billion loss in excise taxes from illicit cigarette operations between 2019 and 2022. As reported by Euromonitor, the incidence of illicit cigarette trade is projected to increase from 12.2 percent in 2020 to 18.5 percent in 2023. “This illicit competition leads to reduced prices and demand for locally grown tobacco, resulting in income loss among our farmers,” she lamented. Villar recalled the Anti-Agricultural Smuggling Act was passed in 2016, unfortunately, not a single smuggler has been imprisoned since then. Thus, seeking to amend the law will further strengthen policies and punishments against smuggling acts. The post Tobacco on list of agri products in proposed economic sabotage law, says Villar 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......»»
Phl to borrow more than P2 trillion to fund 2024 national budget
The Department of Budget and Management (DBM) said on Thursday that the Philippine government plans to borrow more than P2 trillion in 2024 to fund parts of the planned P5.768 trillion national budget for next year. Data from DBM's Budget of Expenditures and Sources of Financing for Fiscal Year 2024 showed that next year's borrowing program is worth P2.46 trillion, which is 11.46 percent more than the borrowing program for 2023 worth P2.207 trillion. The borrowing plan for next year is made up of gross domestic borrowing of P1.853 trillion and gross foreign borrowing of P606.85 billion. During the Malacañang Press Briefing, DBM Undersecretary Joselito Basilio said that borrowing is "consistent with the medium-term fiscal framework." The Marcos government has borrowed P1.327 trillion as of the end of June this year. This made the country's total sovereign debt hit a new record high of P14.15 trillion as of the end of June 2023, up 0.4 percent from the end of May, when it was P14.10 trillion. The Duterte administration also embarked on an aggressive borrowing spree to fund its response and recovery efforts as the pandemic-induced lockdown triggered economic contractions in 2020 throughout the middle of 2021. In a separate interview, Basilio said that the government's borrowing program will gradually decline as the country recovers from the Covid-19 pandemic. "From now until 2025 and 2026, (the government's borrowing) will peak… by 2027 and 2028, it will go down," Basilio said. The government aims to reduce the debt-to-gross domestic product (GDP) ratio to less than 60 percent by 2025, then further down to 51.1 percent in 2028, and reduce the budget deficit to 3.0 percent of GDP by 2028. The debt-to-GDP ratio represents the amount of the government's debt stock relative to the size of the economy. As of the first quarter of 2023, the country's debt-to-GDP ratio stood at 61 percent, down from 63.5 percent in the first quarter of 2022. The Philippines ended 2022 with a debt-to-GDP ratio of 60.9 percent down from the 63.7 percent level as of the third quarter of last year —a 17-year high or the highest since 2005. This is the highest debt-to-GDP ratio since 2005, when it hit 65.7 percent, well over the internationally recommended threshold of 60 percent. The post Phl to borrow more than P2 trillion to fund 2024 national budget appeared first on Daily Tribune......»»
PPA records 23.18% net income increase in H1 2023, expenses down by -3.23%
The Philippine Ports Authority showed a net income of P6.19 billion during the first half of 2023, higher by 7.85 percent against target, and a 23.18 percent or P1.16 billion increase compared to its P5.02 billion net income for the same period in 2022. Comparative revenue figures show that all revenue groupings showed improvement, with Service and Business Income at 13.94 percent or P630.21 million increase and Regulatory Income at 8.04 percent or a P393.58 million increase. Overall, PPA's total revenue as of end of June 2023 grew by 10.83 percent or P1.02 billion increase amounting to P10.46 billion, compared to the P9.44 billion total revenue generated during the same period last year. The total expenses of PPA, meanwhile, recorded a 3.23 percent decrease or P142.52 million compared to the total expenditures incurred during the same period last year. Cash expenses also recorded a decrease of 24.63 percent or P657.26 million due to lower recorded expenditures of administration costs and financial expenses this year. PPA General Manager Jay Santiago disclosed that the exemplary performance of PPA in terms of higher income and lesser expenditure costs can be attributed to the sound fiscal management and the responsible use of its financial resources, among others. “Natutuwa po ako at nagpapasalamat sa lahat ng empleyado ng PPA para po sa magandang performance natin. Sa unang kalahating bahagi ng taon ay makikita niyo naman po ang pagtaas ng revenue at net income ng PPA at ang malaking bawas sa gastos ng ahensya. We can say that this is a great start for PPA this year especially because we implemented the reduction of representation expenses, as well as fuel costs due to the rationalization of the use of service vehicles, among others”, said Santiago. PPA budget utilization improved to 83 percent in 2022, a huge leap from its 71 percent budget utilization in 2021 and 62 percent in 2020, a more or less 12 percent increase in budget utilization every year since its utilization of 52 percent in 2015, showing marked improvements in project implementation over the past six years. “Makikita niyo naman po sa mga pasilidad natin, mga bago at modern na rin po ang mga pantalan natin at maayos po ang papatakbo ng PPA. Sa katunayan, sa unang taon po ng administrasyon ni Pangulong Bongbong Marcos, tayo po ay nakapagtapos na ng 30 seaport projects at balak pa po nating magtapos ng karagdagang 19 projects bago magtapos ang taon”, Santiago concluded. The PPA’s strong and steady financial performance is a clear manifestation that honest and transparent public service is a great factor in being a consistent top GOCC performer over the past six years. The post PPA records 23.18% net income increase in H1 2023, expenses down by -3.23% appeared first on Daily Tribune......»»
Bong Go throws support to grassroots sports development programs
Championing grassroots sports development initiatives in various local communities, Senator Christopher “Bong” Go personally witnessed the opening of the inter-barangay basketball league in Cortes, Bohol on Monday, July 17. The basketball league is in partnership with the Philippine Sports Commission and the local government led by Mayor Lynn Iven Lim. Addressing the crowd gathered at the ampitheater, the chair of the Senate Committee on Sports underscored the significance of sports in promoting physical fitness and diverting the youth's attention away from illegal vices, including drug abuse. As an ardent supporter of grassroots sports development, Go recognized the pivotal role that athletics play in nurturing a healthier and more productive citizenry. “Sporting events, such as the basketball league in Cortes, not only provide an avenue for physical exercise but also encourage teamwork, discipline, and camaraderie among participants,” he said. Go emphasized the importance of promoting sports activities as a means to promote a drug-free community. He highlighted the prevalence of illegal drugs in various communities and expressed his commitment to combat this menace by promoting productive activities that inspire individuals, especially the youth, to stay away from harmful substances and become productive members of society. "Kaya ganun na lang po ang galit ni (dating) pangulong Duterte sa iligal na droga. Kapag pumasok po ang droga, papasok po ang kriminalidad, papasok po ang korapsyon. Mabibili po 'yan. 'Yan po ang kinatatakutan natin dito, kapag bumalik po ang iligal na droga, hindi na po magiging safe maglakad ang mga anak natin," said Go. “Kaya isa rin po sa pamamaraan na ine-engganyo ko po ang kabataan to get into sports, stay away from drugs. Ilayo po natin ang mga kabataan sa droga through sports. Get into sports, stay away from drugs,” he added. The event was also attended by Congressman Edgardo Chatto, Vice Governor Dionisio Victor Balite, Tagbiliran City Mayor Jane Yap, Dauis Vice Mayor Miriam Sumaylo, and Cortes Councilor Ira Lim, among others. "Senator, maraming salamat sa iyong panahon, alam ko kung gaano ka ka-busy.... On behalf ng mga mamamayan dito sa Cortes, maraming salamat mula sa aming puso sa lahat ng iyong tulong sa amin dito.... Ang game changer natin na makapagbigay ng maayos na pag-unlad, especially sa ating mga kababayan, andito ang biggest regional hospital at… ang tumulong sa pagpasa ng batas para maisakatuparan ito ay si Senator Bong Go," Mayor Lim said. Mayor Lim likewise thanked Go for the projects he supported in Cortes as Vice Chair of the Senate Committee on Finance, including the acquisition of a multipurpose vehicle, the construction of a multipurpose building, and the improvement of the municipal public park and hall grounds. Go also underscored the importance of creating opportunities for young athletes, including scholarships, training programs, incentives and continuing investments in local sports facilities. It can be recalled that in 2021, Go visited Bataan and participated in the presentation and signing of the Deed of Donation for the land where the Philippine Sports Training Center (PSTC) was proposed to be constructed in Bagac. The creation of the PSTC aims to promote sports in the country and achieve excellence in international sports competitions. Meanwhile, Go authored and co-sponsored the measure that became Republic Act No. 11470, establishing the National Academy of Sports (NAS) in 2020. NAS is a government-run educational institution that offers quality secondary education with a special curriculum on sports for gifted young Filipinos who want to enhance their physical and mental capabilities in sports. Go also filed Senate Bill No. 423 or the proposed Philippine National Games (PNG) Act of 2022. The measure aims to institutionalize “a truly comprehensive national grassroots sports program, which will harness the vast potential of the citizenry in discovering and developing champion athletes who could excel in international sports competition, thus giving the country pride and international goodwill and addressing the long-standing problems of Philippine sports in general.” “As chair of the Senate Committee on Sports, I am one with President (Ferdinand) Marcos Jr. in highlighting the importance of sports in nation-building. I reiterate my firm commitment to always look after the welfare of our athletes and to push for long-term and grassroots sports development,” Go previously said. It can also be recalled that Go played a crucial role in pushing for additional funding for sports development in the country. He effectively advocated for a boost in the 2023 budget of the PSC, specifically designating an extra one billion pesos to aid athletes, both at the international level and in grassroots initiatives. On the same day, Go visited several infrastructure projects he supported the funding of as vice chair of the Senate Committee on Finance, including the ongoing construction of Governor Celestino Gallares Multi-specialty Medical Complex in Cortes, and the Cortes Municipal Park and Disaster Risk Reduction and Management building, both in Cortes town. He also led a distribution activity for athletes, coaches, and barangay workers in Cortes town. After Cortes, Go went to Tagbilaran City to inspect the city’s Super Health Center and the Malasakit Center at Gov. Celestino Gallares Memorial Hospital. Lastly, the senator attended the 73rd Commencement Exercise of Bohol Institute of Technology International College System. The post Bong Go throws support to grassroots sports development programs 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......»»
Kudos to Dr. Eric Olivarez
Doctor of Education and registered nurse Eric Olivarez, the mayor of Parañaque City, focusing solely on rendering good public service, transformed his department heads, led by City Administrator Voltaire de la Cruz, into a spectacular performance management machine increasing in the process the city’s assets and equity by 63.5 percent — from P16.63 billion in 2021 to P26.88 billion in 2022 — an increase of a whopping P10.25 billion after only 12 months as mayor. Dr. Eric, upon the advice of the resident auditor and assisted by the city’s chief accountant, began transferring land titles in the name of the city, under Section 148 of CoA Circular 92-386 dated 20 October 1992, which provides that, “Every local executive shall be immediately responsible for the proper and effective use and management of real estate that all real properties under his responsibility be registered under the Torrens Title System and safeguarded from squatters, unlawful occupants, or the like.” A total of P11,779,238.44 representing capital gains tax of P9,360,380.44 and documentary stamp taxes of P2,418,258.03 was utilized for the transfers of title, charged against an appropriation of P45,000,000, leaving an unexpended balance of P33,220,761.56. Transferring land titles in the name of the city is a tedious, delicate and serious matter oftentimes hindered by legal constraints. Chief accountants are reluctant to go into this process without the able guidance of a competent and experienced auditor whose expertise and knowledge based on law and jurisprudence is necessary. The Office of the Auditor recommended and management agreed that the general service office should complete the process of transferring the land titles in the name of the city, maintain properly and regularly the inventory of land titles, and ensure the safeguarding of the same. To clinch the whopping increase in assets and equity of the city, the City Accounting Office immediately effected adjustments to numerous entries to correct the over/understatement of accounts due to the implementation of CoA Circular 2020-008, or the One-Time Cleansing of PPEs, misclassification of accounts, and other errors in the recording of transactions. But Dr. Eric’s first love is taking care of the children of Parañaque City. The Commission on Audit gave Dr. Eric high marks for the Local Council for Protection of Children for which the city’s project/program/activities had a total budget of P21,442,822.92. Of the total budget, 79.24 percent of this budget was utilized resulting in the successful implementation of the program, affirming Dr. Eric’s natural skill as a registered nurse. In addition to repeating last year’s unmodified opinion on the fairness of the presentation of the financial statements of the City of Parañaque for this calendar year ended 31 December 2022, CoA also accorded the city government this recognition, a reason for the elation of the people of Parañaque City: “We acknowledged and commended the positive response of the management on our current year’s audit observation memorandum. The audit areas of these recommendations are part of the audit thrusts for CY 2022 which were already undertaken,” CoA stated. An unmodified opinion accorded by the auditor on the fairness of the presentation of the financial statements of the city for the calendar year ended 31 December 2022 means that the financial statements were prepared by the city management in all material respects in accordance with the applicable financial reporting framework. In the next episode, read more about Dr. Eric’s success, and the recognition-worthy performance of the city accountant and the resident auditor, as instruments of good local governance. (To be continued) The post Kudos to Dr. Eric Olivarez appeared first on Daily Tribune......»»
Exec warns vs. alarming risks fueled by climate change
Climate Change Commission Secretary Robert EA Borje warned the public of the alarming impacts of the climate change crisis, noting that some 40 areas across the country were considered as “most vulnerable” to weather extremes phenomenon. In a media interface held Friday night at Malacañan Compound in San Miguel, Manila, Borje emphasized the need to improve the country’s climate action plans to achieve sustainability and resiliency on the continuing risks brought by climate change. “The climate crisis is alarming not just in the Philippines but in the entire world,” he said. Borje cited that the Intergovernmental Panel on Climate Change has already identified the climate change phenomenon “as an existential threat.” “When it's an existential threat, that means that lives are already on the line…But it becomes more alarming for countries like the Philippines because we are a developing country, we are an archipelago and we are situated where we are,” he explained. Recognizing these impacts, Borje the government has devoted an entire chapter in the Philippine Development Plan 2023-2028 to climate change and disaster resiliency. In fact, the Philippines has allocated USD 8.2 billion, or 9 percent of its total national budget, for climate change adaptation and mitigation programs this year. Despite being “on the right path” in addressing climate change, Borje said the Philippines “can always do better” to reduce and mitigate the impacts of “historic, global and systemic” phenomenon. “The government is implementing various programs, but it needs to boost and strengthen its efforts because of the shifts in the nature of challenges brought about by climate change),” he said, partly in the vernacular. “We can always do better. Always. I'm not saying that it is not enough. We can always do better. Because I think, whenever we've done something, it is automatic that the benchmark for the government and the people become higher,” he further stressed. Borje bared that the CCC is in close coordination with the Department of the Interior and Local Government to assist the 40 areas that are at risk of climate disaster. Of the total, 35 of these are “for assessment.” Borje did not identify the 40 highly-vulnerable areas but noted that the DILG was in charge of identifying them and that they are now focusing on the whole-of-government approach to mitigate the risks of the climate change phenomenon. “The CCC and the DILG aim to make sure that 100 percent of the local government units nationwide are implementing their respective Local Climate Change Action Plans,” he said. Based on the CCC data, the LCCAP submissions increased by 95 percent from 715 submissions in 2021 to 1,397 as of 31 December 2022. The Commission targets 100 percent compliance from 1,715 LGUs by Fiscal Year 2024. The LCCAP, which serves as the LGU’s plan for enhancing local climate resilience, includes information on fit-for-purpose climate actions anchored on site-specific risks and vulnerabilities. The post Exec warns vs. alarming risks fueled by climate change appeared first on Daily Tribune......»»
World warming at record 0.2C per decade, scientists warn
Record-high greenhouse gas emissions and diminishing air pollution have caused an unparalleled acceleration in global warming, 50 top scientists warned Thursday in a sweeping climate science update. From 2013 to 2022, "human-induced warming has been increasing at an unprecedented rate of over 0.2 degrees Celsius per decade," they reported in a peer-reviewed study aimed at policymakers. Average annual emissions over the same period hit an all-time high of 54 billion tons of CO2 or its equivalent in other gases -- about 1,700 tons every second. World leaders will be confronted with the new data at the critical COP28 climate summit later this year in Dubai, where a "Global Stocktake" at the UN talks will assess progress toward the 2015 Paris Agreement's temperature goals. The findings would appear to close the door on capping global warming under the Paris treaty's more ambitious 1.5C target, long identified as a guard rail for a relatively climate-safe world, albeit one still roiled by severe impacts. "Even though we are not yet at 1.5C warming, the carbon budget" -- the amount of greenhouse gases humanity can emit without exceeding that limit -- "will likely be exhausted in only a few years," said lead author Piers Forster, a physics professor at the University of Leeds. That budget has shrunk by half since the UN's climate science advisory body, the Intergovernmental Panel on Climate Change (IPCC), gathered data for its most recent benchmark report in 2021, according to the Forster and colleagues, many of whom were core IPCC contributors. Unintended consequences To have even a coin-toss chance of staying under the 1.5C threshold, emissions of carbon dioxide, methane and other drivers of warming generated mostly by burning fossil fuels must not exceed 250 billion tons (Gt), they reported. Bettering the odds to two-thirds or four-fifths would reduce that carbon allowance to only 150 Gt and 100 Gt, respectively -- a two- or three-year lifeline at the current rate of emissions. Keeping the Paris temperature targets in play would require slashing CO2 pollution at least 40 percent by 2030, and eliminating it entirely by mid-century, the IPCC has calculated. Ironically, one of the big climate success stories of the last decade has inadvertently hastened the pace of global warming, the new data reveal. A gradual drop in the use of coal -- significantly more carbon intensive than oil or gas -- to produce power has slowed the increase in carbon emissions. But it has also reduced the air pollution that shields Earth from the full force of the Sun's rays. Particle pollution from all sources dampens warming by about half-a-degree Celsius, which means -- at least in the short term -- more of that heat will reach the planet's surface as the air becomes cleaner. Published in the peer-reviewed journal Earth System Science Data, the new study is the first in a series of periodic assessments that will help fill the gaps between IPCC reports, released on average every six years since 1988. Deadly heat "An annual update of key indicators of global change is critical in helping the international community and countries to keep the urgency of addressing the climate change crisis at the top of the agenda," said co-author and scientist Maisa Rojas Corradi, who is also the environment minister of Chile. Co-author Valerie Masson-Delmotte, a co-chair of the 2021 IPCC report, said the new data should be a "wake-up call" ahead of the COP28 summit, even if there is evidence that the increase in greenhouse gases has slowed. "The pace and scale of climate action is not sufficient to limit the escalation of climate related risks," she said. Researchers also reported a startling rise in temperature increases over land areas -- excluding oceans -- since 2000. "Land average annual maximum temperatures have warmed by more than half a degree Celsius in the last ten years (1.72C above preindustrial conditions) compared to the first decade of the millennium (1.22C)," the study reported. Longer and more intense heat waves will pose a life-and-death threat in the coming decades across large swathes of South and Southeast Asia, along with areas straddling the equator in Africa and Latin America, recent research has shown. The post World warming at record 0.2C per decade, scientists warn appeared first on Daily Tribune......»»
After SpaceX, NASA taps Bezos’s Blue Origin to build Moon lander
Two years after awarding Elon Musk's SpaceX a contract to ferry astronauts to the surface of the Moon, NASA on Friday announced it had chosen Blue Origin, a rival space company founded by billionaire Jeff Bezos, to build a second lunar lander. Blue Origin's lander was selected for the Artemis 5 mission, currently scheduled to take place in 2029. The company will first have to demonstrate it can safely land on the Moon without a crew. Bezos, the founder and former CEO of Amazon, said on Twitter he was "honored to be on this journey with @NASA to land astronauts on the Moon -- this time to stay." The contract amounts to $3.4 billion, but John Couluris, vice president in charge of lunar transport at Blue Origin, said during a press conference that the company would itself contribute "well north" of that amount to develop the craft. The Artemis program marks NASA's return to the Moon after more than 50 years and is made up of several missions, each with increasing complexity. In 2021, the US agency chose SpaceX to build a lander for Artemis 3, the first mission in the series to have actual astronauts set foot on the lunar surface. The contract was worth $2.9 billion, although SpaceX is supplementing that amount with its own funding. Blue Origin had also competed for the first contract and filed an unsuccessful lawsuit against NASA when SpaceX was chosen as the sole lander provider. The space agency had originally intended to offer two contracts, a practice commonly used to guard against the possibility one fails, but said it had been constrained by budget concerns. NASA in 2022 also chose the SpaceX lander for its Artemis 4 mission, but at the same time requested submissions from other companies for the rest of the program. "We want more competition. We want two landers," NASA boss Bill Nelson said on Friday. "It means that you have reliability. You have backups." Blue Origin's lander, dubbed Blue Moon, is being developed with several partner companies, including Draper, Boeing, Astrobotic, Honeybee Robotics, and Lockheed Martin. The latter will be responsible for developing a crucial element. Once in lunar orbit, Blue Moon will need to be refueled before it can descend and collect the astronauts from the surface of the Moon. Therefore Lockheed Martin has to develop a kind of shuttle to refuel Blue Moon around the Moon. Blue Origin plans to use its New Glenn rocket, which has never flown before, to launch both its lander and this refueling shuttle. Artemis 4, scheduled for 2028, and Artemis 5 a year later will both land on the Moon, but will first pass through a new space station in lunar orbit, called Gateway, which has yet to be constructed. Prelude to Mars Artemis astronauts will take off aboard NASA's Orion capsule, propelled to the Moon by the agency's new SLS mega-rocket. Both these elements were tested uncrewed when Artemis 1 took place six months ago and will be tested with the crew during Artemis 2. For Artemis 3, Orion will dock directly to SpaceX's lander. Two astronauts will then descend on the Moon for about a week, while two others will remain on board Orion. Once their experiments are over, the two adventurers will go back in the lander to Orion, which will bring the four crew members back to Earth. Afterward, Orion will attach to the Gateway space station, and the astronauts will pass through it before boarding the SpaceX lander, for Artemis 4, or Blue Origin for Artemis 5. All of these missions target the south pole of the Moon, where there is water in the form of ice. SpaceX's lander will be a modified version of its Starship spacecraft, currently under development in Texas. It exploded in flight during a first major test in April. The goal of the Artemis program is to learn to live on the Moon, in order to test out all the technologies necessary for an even more perilous journey: to Mars. The post After SpaceX, NASA taps Bezos’s Blue Origin to build Moon lander appeared first on Daily Tribune......»»
FGen hikes capex after winning Casecnan bid
Lopez family’s First Gen Corporation has allotted a total of $1.1 billion in capital expenditures or capex this year to further expand its renewable energy footprint and finance a newly acquired asset. FGen chief financial officer Emmanuel Antonio Singson said this year’s budget, which was supposed to be only about $585 million, almost doubled after its unit, Fresh River Lakes Corporation, won the bid to take over the 165-megawatt Casecnan Hydroelectric Power Plant. “2023 capex total for everybody is about $585 million, $403 million of that to be exact is for the Energy Development Corp. so that’s the (development of) geothermal, battery storage and everything,” Singson told reporters during a press briefing on Wednesday. “$90 million of that is for LNG (facility) to be completed by September this year, while $50 million of that is for our Aya pump storage project. The rest is for small capex in our gas plants,” he added. But since the company won the highest bid of $526 million for the Casecnan Plant, Singson said the company had to increase its capex to sustain its operations. Fresh River Lakes’ offer surpassed the minimum bid price of the plant of $227 billion. Despite having the highest bid, the state-run Power Sector Assets and Liabilities Management Corporation noted that the company still needs to undergo a rigorous post-qualification process to verify the accuracy and authenticity of the eligibility documents submitted. Initially, eight bidders were qualified to participate in the bid opening and preliminary evaluation process. Fundamental asset FGen President and chief operating officer Francis Giles Puno pointed out that Casecnan will be a “very important asset” for the company due to its proximity to its Project Aya, a 120-megawatt pumped storage hydroelectric facility in Pantabangan, Nueva Ecija. “We needed to make sure that the Casecnan reservoir is controlled by First Gen, especially because Casecnan is upstream,” Puno said. “To that extent, we could supplement even more supply coming from the upstream side of Casecnan, then that will help Pantabangan-Masiway and Project Aya — that was fundamental,” he added. Developed in the 1990s, Casecnan Plant is a “run-of-river” type of power plant with a limited impounding area, located at Sitio Pauan, Barangay Villarica, Pantabangan, Nueva Ecija. It was covered by a build-operate-transfer agreement, which ended on 11 December 2021. Based on the government’s initial privatization timeline, the completion of the plant’s sale should have been completed last year. The post FGen hikes capex after winning Casecnan bid appeared first on Daily Tribune......»»
FGen hikes capex after winning Casecnan bid
The Lopez family's First Gen Corporation has allotted a total of $1.1 billion in capital expenditures this year to further expand its renewable energy footprint and finance a newly acquired asset. FGen Chief Financial Officer Emmanuel Antonio Singson said this year’s budget, which was supposed to be only about $585 million, almost doubled after its unit, Fresh River Lakes Corporation, won the bid to take over the 165-megawatt Casecnan Hydroelectric Power Plant. “2023 capex total for everybody is about $585 million, $403 million of that to be exact is for the Energy Development Corp. so that's the (development of) geothermal, battery storage and everything,” Singson told reporters during a press briefing on Wednesday. “$90 million of that is for LNG (facility) to be completed by September this year, while $50 million of that is for our Aya pump storage project. The rest is for small capex in our gas plants,” he added. But since the company won the highest bid of $526 million for the Casecnan Plant, Singson said the company had to increase its capex to sustain its operations. Fresh River Lakes’ offer surpassed the minimum bid price of the plant of $227 billion. Despite having the highest bid, the state-run Power Sector Assets and Liabilities Management Corporation said the company still needs to undergo a rigorous post-qualification process to verify the accuracy and authenticity of the eligibility documents submitted. Initially, eight bidders were qualified to participate in the bid opening and preliminary evaluation process. Fundamental asset FGen President and Chief Operating Officer Francis Giles Puno pointed out that Casecnan will be a “very important asset” for the company due to its proximity to its Project Aya, a 120-megawatt pumped storage hydroelectric facility in Pantabangan, Nueva Ecija. “We needed to make sure that the Casecnan reservoir is controlled by First Gen, especially because Casecnan is upstream,” Puno said. “To that extent, we could supplement even more supply coming from the upstream side of Casecnan, then that will help Pantabangan-Masiway and Project Aya — that was fundamental,” he added. Developed in the 1990s, Casecnan Plant is a “run-of-river” type of power plant with a limited impounding area, located at Sitio Pauan, Brgy. Villarica, Pantabangan, Nueva Ecija. It was covered by a build-operate-transfer agreement, which ended on 11 December 2021. Based on the government’s initial privatization timeline, the completion of the plant's sale should have been completed last year. The post FGen hikes capex after winning Casecnan bid appeared first on Daily Tribune......»»
Daza to CHEd: Put funding to good use
The Commission on Higher Education could use its P10-billion funding if its heart really goes out to disadvantaged students, House Senior Deputy Minority Leader Paul Daza said Tuesday, reiterating his prior allegation that the funding was previously utilized for tertiary student scholarships. “If our hearts are in it, if we really wanted to help the poor, CHEd can use the P10 billion today without having to wait for the next GAA (General Appropriations Act) budget deliberations,” said the Northern Samar solon. “The list is with you. You have one million students. Please, put it to use.” The allegation that the CHEd used the P10 billion of its funding for other purposes resurfaced yesterday during the House Committee on Higher and Technical Education’s deliberation on House Resolution 767. The resolution, which Daza authored, calls for the government to improve access to tertiary education and reduce attrition rates among 4Ps beneficiaries and other deserving and financially challenged students by increasing the budget allocation for scholarships. It was Daza who alleged that the CHEd misused its P10-billion worth of scholarship funds during the panel’s first hearing on the resolution on 20 March, claiming it came out that essentially CHEd has not utilized as of 2021 report P10-billion. “The earmarked funds is what we call an off-budget. By law travel tax, PRC, and PCSO shares go to that fund. That’s supposed to be for higher education. If CHEd did its job and engaged DSWD and if they continue the 2012 grant-in-aid which was incorporated in the law, they could have helped a few hundred thousand students a year,” Daza pointed out during the previous hearing. Daza’s claim, however, was turned down by CHEd chairperson Popoy de Vera, who earlier said that he had “no idea” where the P10-billion scholarship fund came from. “The Higher Education Development Fund was put in the CHEd Charter (RA 7722) to fund projects to ‘strengthen higher education’. It is not a scholarship fund,” said De Vera in a statement on 22 March in response to Daza’s accusation. “CHEd has been giving grants to HEIs (higher educational institutions) over the past four administrations and the current CHEd Chairperson and Commissioners have continued this policy. What is new under the current CHEd leadership is a stronger focus on tourism,” the chairman maintained. Daza, however, took advantage of yesterday’s deliberation to advocate that the agency’s funds could also cater to students taking courses unrelated to tourism by providing them scholarships, citing The Tourism Act of 2019. Further, the minority lawmaker noted that the law’s revenue mandate did not exclusively cater to only students under tourism-related courses but prioritized them. To further prove his point that the CHEd could tap its HEDF for college students’ scholarships, Daza said: “P2 billion or more than half of the HEDF in 2016, was used for student-related support.” “Meaning there’s already precedent for HEDF to be utilized by CHEd for poor students, needy students.” In addition, Daza expressed concern that, in contrast to 2016, when P2 billion represented half of the HEDF, student aid had dropped to just P170 million, or less than a fourth of the HEDF. “By the time Chairman de Vera took over in 2019, the share for student assistance had dwindled down to P170 million, or 18.7 percent of the HEDF,” the lawmaker claimed. The post Daza to CHEd: Put funding to good use appeared first on Daily Tribune......»»
CHEd eyes free tuition funding
The Commission on Higher Education on Monday urged the Congress to back additional allocation for the country’s free tuition and subsidy program known as the Universal Access to Quality Tertiary Education or UAQTE. During the hearing of the House Committee on Higher and Technical Education, CHEd chairperson Prospero de Vera noted the decreasing budget cuts on free tuition and subsidies from 2021 to 2023, as well as the lower allocation as compared to CHEd’s proposal. “It is clear that we have always proposed a bigger UAQTE budget but we do not get it in the National Expenditures Program and the General Appropriations Act. The solution is we need increased and sustained funding for UAQTE in NEP and GAA,” De Vera said. In 2021 and 2022, despite CHEd’s budget proposal of more than P53.9 billion for UAQTE, the National Expenditures Program cuts the budget to between P44 billion to P46 billion. However, in last year’s General Appropriations Act, the funding for UAQTE was significantly stripped from P44 billion to P26 billion. For this year, while CHED has also lowered its proposal to P34 billion but the 2023 GAA only approved P25 billion. The post CHEd eyes free tuition funding appeared first on Daily Tribune......»»
Bong Go wants to decongest National Center for Mental Health
Senator Christopher “Bong” Go highlighted the urgent need to improve the National Center for Mental Health and to ensure that all Filipinos have access to proper healthcare. During a public hearing conducted by the Senate Committee on Health on mental health on Tuesday, 9 May, Go, who chairs the committee, raised concerns regarding the need for decongestion of the NCMH. “The state of the National Center for Mental Health is in need of utmost attention and improvement to preserve the basic right of all Filipinos to health care,” said Go. “How can we decongest NCMH in order to improve its current state? Where can we transfer recovered patients who have nowhere to go?” he added. The senator also emphasized the need to provide appropriate intervention and care for admitted patients while also looking into the cases of those who are already considered ‘fit’ to be discharged but have nowhere to go or no family to go back home to. “Is the DSWD capable to accommodate them in halfway houses? Kawawa naman. Alam niyo masarap mabuhay sa mundong ito, isang beses lang tayo dadaan, bigyan po natin sila ng halaga, yung buhay nila. Ma-enjoy naman nila after being committed doon sa mga hospital facilities,” Go said. Go also asked concerned authorities to look into the present referral system for patients with pending cases. He cited that some patients admitted to the mental health hospital who are facing cases in court must be properly assessed to determine whether they should remain in NCMH or be tranferred to other facilities. “What should be the proper referral system for patients with pending cases? Dahil nababalitaan ko marami pong mga may kaso na nandodoon pa sa mental health (hospital),” said Go. “Bakit sila nako-commit doon? Ngayon, kung pwede na silang lumabas, magaling na sila, maaari bang ibalik na po doon sa kulungan para ma-decongest naman po itong mga mental health facilities natin?,” he added. Health authorities during the hearing responded to Go’s concerns, highlighting the protocols in place to determine whether someone has a mental illness, including a neuropsychiatric screening test. Patients who are committed to mental hospitals with a court order are already considered to need psychiatric treatment, and mental health professionals assess their fitness for trial or the need for further treatment. Those deemed mentally competent will face trial for their actions. In a separate interview at the Senate after the said hearing, Go addressed the allegations of corruption at NCMH, stating that if there are reports of wrongdoing, an inquiry can be done and referred to the Blue Ribbon Committee. Meanwhile, the senator also emphasized the importance of providing proper care to patients in the NCMH, including providing them with the necessary medication and nutrition. “Ibigay po sa kanila what is due to them. Tao po itong mga pasyente, kahit na may problema sila sa mental health. Paano gagaling kung ‘di ibibigay sa kanila ‘yung nararapat na gamot at pagkain na naayon po sa kanila. Tulungan po natin, mahalin po natin ang mga pasyente natin,” he said. Go, an advocate of improved mental healthcare, has filed Senate Bill No. 1321, or the proposed “Specialty Centers in Every Region Act of 2022”. The bill aims to establish specialty centers in select DOH-hospitals across the country, with mental health services as one of the specialties offered. Additionally, Go has filed SBN 1786, which would require public higher education institutions to establish Mental Health Offices on their campuses. He also serves as co-author of Senator Sherwin Gatchalian’s SBN 379, otherwise known as the Basic Education Mental Health and Well-Being Promotion Act, which aims to provide mental health services, emotional, developmental and preventive programs, and other support services in the basic education level. Meanwhile, one of the key initiatives he pushed for in the 2023 budget is the improvement of benefit packages of the PhilHealth. According to Go, the 2023 budget includes a special provision for the improvement of benefit packages of PhilHealth including mental health packages. This provision is crucial given the sharp increase in mental health issues and the inaccessibility of mental health services. “Mayroon pong P1.86 billion ang DOH for mental health medicines, under the 2023 national budget. Mayroon din pong P12 million budget for mental health awareness and hotline,” Go shared. “We have consistently advocated for increased funding for medical (mental) health programs. For example, in 2021, the DOH was granted an additional P384 million for its mental health program, while in 2022, an additional P200 million was allocated for the same purpose,” he cited. The post Bong Go wants to decongest National Center for Mental Health appeared first on Daily Tribune......»»
PPA remits P4.44-B revenues to govt
The Philippine Ports Authority on Wednesday reported that it remitted P4.44 billion in revenues to the government in 2022, nine percent higher than the P4.08 billion remittance in 2021. “The latest dividend contribution from PPA will greatly help our government’s recovery efforts from the pandemic especially now that we are gaining momentum towards economic recovery,” PPA Manager Jay Santiago said, adding that it is among the top 10 contributing government-owned and controlled corporations. In 2019, the agency turned over P5.05 billion in cash dividends to the National Treasury, the highest remittance since its creation in 1986. From 2016 to 2022, the PPA remitted P25.91 billion, the highest remittance in the past decade. PPA started the trend of increasing remittance in 2016, according to Santiago. The agency remitted P1.96 billion that year. It remitted P3 billion in 2017, P3.52 billion in 2018 and P5 billion in 2019. During the pandemic, PPA remittance decreased to P3.76 billion in 2020 but rebounded in 2021 to P4 billion. Under Republic Act No. 7656 or “An Act Requiring Government Owned or Controlled Corporations to Declare Dividends under Certain Conditions to the National Government, and for other purposes,” the PPA is required to declare and remit at least 50 percent of its net earnings, as cash, stock and/or property dividends to the national government for national development and building. Santiago attributed the success of PPA’s strong and steady financial performance to the authority’s sound fiscal management and the lifting of the Covid-19 restrictions. He added, “”This is a clear manifestation that honest and transparent public service go a long way. We are now reaping the benefits of management reforms over the past years. Malaking bagay po yung streamlining ng mga proseso natin sa pantalan at pati na rin syempre yung port modernization na sinimulan natin para hindi tayo napag-iiwanan when it comes to global standards and performance.” Meanwhile, Santiago said the PPA recorded an 83 percent budget utilization rate in 2022, the highest in the previous years despite the challenges brought by the Covid-19 pandemic. Santiago said it shows that PPA was able to maximize and implement responsible usage of its corporate budget compared to 71 percent in 2021 and 62 percent in 2020. “For 2023, we are aiming to surpass our 83 percent to 90 percent. We want to show the public that we are serious about getting the job done at wala pong budget na nasasayang sa PPA, lahat po ay ibinabalik natin sa taumbayan in forms of services and infrastructure projects,” Santiago said. The post PPA remits P4.44-B revenues to govt appeared first on Daily Tribune......»»
`Compete with all your heart,’ Go tells SEA Games-bound athletes
On Monday, 24 April, Senator Christopher "Bong" Go expressed his full support for Filipino athletes competing in the 32nd Southeast Asian Games in Cambodia as he attended their send-off ceremony at the Philippine International Convention Center in Pasay City. The event was led by President Ferdinand Marcos, Jr. who encouraged the Filipino athletes to go for the gold and bring back the Philippines' number one spot in the Games. In an interview during the event, Go, as chair of the Senate Committee on Sports and a sports enthusiast himself, said he understands the value of sports in the lives of young Filipinos. "Nandirito po ako to support. Being a sports enthusiast, noon pa talagang mahilig na po ako sa sports," said Go. "And that’s one way of encouraging the youth to get into sports and stay away from drugs. Isa po ito sa pamamaraan na ilayo po natin ang ating mga kabataan sa iligal na droga. Get into sports, stay away from drugs, and keep them healthy and fit," he added. To help in this cause, Go shared that he sponsored and defended additional funding for the Philippine Sports Commission during its 2023 budget deliberation, particularly for grassroots sports development and in support of athletes joining international competitions. "Gaya noon, full support po ako sa ating mga atleta. Not only sa SEA Games, Asian Games, Olympics, full support po ako," he said. Go continued, "In fact, during the budget deliberation, ang budget po ng PSC less than P200 million. Ako po ‘yung nag-defend at nag-suggest ng dagdag sa pondo nila." "Nagdagdag po tayo ng P1 billion sa budget ng PSC including budget na po para sa Southeast Asian Games, sa iba pang mga grassroots program, not only sa international competition, pati sa local," he added. Particularly, the increase in the PSC's 2023 budget reflected in the General Appropriations Act is intended to support Filipino athletes in the 2022 Asian Games, 2023 Southeast Asian Games, and 2024 Summer Olympics in Paris. Furthermore, athletes competing in the ASEAN Para Games, Asian Indoor Martial Arts Games, World Combat Games, World Beach Games, Asian Beach Games, and World Beach Games will receive similar support. Portions of the funds were allotted for the country's hosting of the FIBA World Cup in 2023 as well as for several sports programs, such as Batang Pinoy, the Philippine National Games, and the grassroots program under the Sports Development Council. There are also funds allocated for the development of sports infrastructure across the country, as well as for advanced research and development in sports sciences and sports technology. When asked about his message to the athletes, Go echoed Marcos' words of encouragement, "Sinabi na rin po ni Pangulong Bongbong Marcos kanina, 'Go, go, go for the gold.' Ibig sabihin sana magtsa-champion po tayo. Ibalik natin ‘yung pagiging No.1 natin." Go reminded the athletes that the important thing is to fight and compete with all their hearts, as Filipinos are known for their passion and perseverance. Around 860 Filipino athletes, 76 reserved players, and 347 sports officials, medical personnel, and support staff will travel to Cambodia to compete in 608 events across 38 sports categories from 5-17 May. With the impressive performance of Filipino athletes in the 2021 SEA Games in Vietnam, where they brought home 227 medals, including 52 gold, 70 silver, and 105 bronze, the Philippines is poised to once again make a strong showing in the upcoming games. In the 2019 SEA Games, the Philippines hosted the event and emerged as the overall champion with 149 gold medals, 117 silver medals, and 121 bronze medals. The National Athletes and Coaches Benefits and Incentives Act, or Republic Act No. 10699, entitles SEA Games gold medalists to a P300,000 incentive, silver medalists to P150,000, and bronze medalists to P60,000. During the Duterte administration, Go advocated for additional benefits to medalists. An advocate for grassroots sports development, Go earlier authored and co-sponsored RA 11470, establishing the National Academy of Sports in 2020 as part of his vision to ensure promising young athletes can further hone their talents while getting quality education. The NAS is a government-run academy aimed at developing the country’s future athletes by offering quality secondary education with a special curriculum on sports for gifted young Filipinos who want to enhance their physical and mental capabilities in sports. The senator also filed Senate Bill No. 423, or the proposed Philippine National Games Act of 2022, to provide a structure for a more comprehensive national sports program, linking grassroots sports promotion to national sports development The post `Compete with all your heart,’ Go tells SEA Games-bound athletes appeared first on Daily Tribune......»»
COA flags DepEd over P2.4B purchase of pricey laptops with old processors
MANILA, Philippines — The Commission on Audit (COA) has flagged the Department of Education’s (DepEd) purchase of pricey laptops with low-end processors in 2021, transacted through the controversial Procurement Service of the Department of Budget and Management (PS-DBM). In auditing DepEd’s financial transactions in 2021, COA noted that P2.4 billion was approved for purchasing laptops […] The post COA flags DepEd over P2.4B purchase of pricey laptops with old processors appeared first on Cebu Daily News......»»