PAGCOR junks P6 billion deal with third-party POGO auditor
The Philippine Amusement and Gaming Corp. has terminated its P6-billion contract with Global ComRCI, the third-party auditor for Philippine offshore gaming operators (POGOs) found to have no business permit and been remiss in paying taxes......»»
Ombudsman vindicates (2)
The Ombudsman was correct in his unsolicited recommendation that Audit Observation Memorandum or AOMs should not be published to prevent prejudging those involved. But AOMs with biased, political undertones and color, if released within a conspired time frame and raising issues as critical as huge Department of Health or DoH money intended to combat Covid-19 being stolen, can cause a rebellion. More than ever, these justify graft buster Martires’ anger over the publication of AOMs. Amazingly, this scenario reappeared with an almost repeat performance by the same personalities like the lady who poured out her tears over the plea bargaining agreement, Heidi Mendoza, who suddenly appeared from nowhere crying again and asking everyone to pray for the soul of her colleague, UN Auditor, Atty. Jake Cimafranca, who worked hard on the DoH report, died of a heart attack. She posted about it in time for Cimafranca’s burial. Also suddenly appearing was Grace Pulido Tan of the “kahindik-hindik (hideous)” PDAF audit report, echoing the same statement of her tandem Heidi that the release of the DoH audit report was regular and not premature. Astonishing everyone, including CoA state auditors, was the rebuff by no less than CoA Chair Michael Aguinaldo of the directive of President Duterte telling him to audit the Philippine National Red Cross. He said the CoA needed more authority to audit the PNRC. State auditors were shocked by the answer of their chief to a presidential order. Something must be cooking. And there emerged the resounding call for an immediate investigation by the senators of the Republic on the DoH’s P67.32- billion fund intended to fight Covid-19. Soon, the call for an inquiry sounded worldwide. The internet showed news flashes in the world’s capital cities of allegedly massive Department of Health funds of the Philippines intended to protect the people of the archipelago from the onslaught of Covid-19 being stolen. But former fiscal and President Rodrigo Duterte could not be intimidated. “Pure bullshit”: Duterte says CoA-flagged DoH funds not stolen. Duterte tells Cabinet secretaries to ignore CoA reports: “Nothing will happen there.” All probes against DoH “can continue,” Palace says after Duterte scores CoA. In effect, Fiscal Digong was saying, you can go on with your investigation. Catch the crooks, but do not hinder government efforts to provide our people with the supplies they need to protect them from Covid-19. Here is how it all started. The annual audit report on the accounts and financial operations of the Department of Health for the calendar year ending 31 December 2020 disclosed, among other things, the following most significant observations contained in one of the collections of AOM released as an annual audit report on 11 August 2021: “1. Various deficiencies involving some P67,323,186,570.57 worth of public funds and intended for national efforts of combatting the unprecedented scale of the Covid-19 crisis were noted. These deficiencies contributed to the challenges encountered and mixed opportunities by the DoH during the state of calamity and national emergency and cast doubts on the regularity of related transactions. “We requested that the SoH (Secretary of Health) implement the recommendations contained in the Consolidated Management Letter on the audit of Covid-19 funds for the year ending 31 December 2020 and submit a status report on the actions taken on the audit recommendations stated therein.” On 11 August 2021, the preceding observation was reported by a local stream media as a blazing headline: “CoA finds DoH lacking in managing P67.32-B Covid funds.” “The Commission on Audit found deficiencies in how the Department of Health managed the P67.32 billion fund to fight the Covid-19 pandemic, adding that it contributed to challenges that the country faced during the crisis. “CoA’s annual audit report for DoH in 2020 revealed that the deficiencies are caused by non-compliance with pertinent laws and regulations, which led to missed opportunities for the department primarily tasked with managing the pandemic.” (To be continued) The post Ombudsman vindicates (2) appeared first on Daily Tribune......»»
DITO passed 4th technical audit
DITO Telecommunity, a China-backed company that broke the industry duopoly of Globe and PLDT, has passed its fourth government-mandated technical audit that measures its compliance with network coverage and internet speed commitments. In a letter sent to DITO Telecommunity chief administrative officer Adel Tamano, the National Telecommunications Commission or NTC confirmed that it passed its fourth yearly technical audit. The independent audit is part of the conditions outlined in the Certificate of Public Convenience and Necessity or CPCN given to the company. The Independent Auditor’s Report of Factual Findings from the Conduct of Specified Procedures — Year 4 Committed Levels of Service dated 29 August submitted by R.G. Manabat & Co. to the NTC stated that DITO surpassed its target. As part of the issuance of its CPCN in July 2019, DITO Telecommunity needs to record 70.01 percent network reach with a minimum speed of 55 Mbps in the third year of its commitment period. Notably, the audit showed that DITO now covers 80.65 percent of national population coverage. Affordable Internet fulfilled Its minimum average broadband speed or MABS, meanwhile, clocked in at 74.97 Mbps for 4G and 639.32 Mbps for 5G for all sites with a combined MABS of 357.14 Mbps. “Despite all the challenges that we have faced, we continue to achieve our commitments to government and the Filipino people, to provide affordable world-class service and to serve the underserved. This is in support of the Marcos administration’s drive towards digitalization and Nation-building,” Tamano said. 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. DITO recently conveyed that unresolved interconnection issues with its rivals have been affecting its subscriber base expansion as well as its development of new products for users. The PCC affirmed DITO’s complaints last year over the alleged anti-competitive behavior of its rivals regarding their interconnection deals. PCC said it found “reasonable grounds to open a preliminary inquiry into the complaints filed by Dito Telecommunity against Globe Telecom and Smart Communications.” Under Executive Order 59 issued by late President Fidel V. Ramos in 1993, interconnection is a mandated and important component of the telco industry as it allows interoperability and exchange of calls, SMS, and other information from one network to another. The post DITO passed 4th technical audit appeared first on Daily Tribune......»»
Tale of two cities (2)
Mayor Eric Olivarez of Parañaque City wants his city to be the first to have an eGovSuper App that would expedite and facilitate the registration of business establishments, enhance transparency, and prevent corruption. The young local chief executive, a doctor of education and registered nurse, is blazing the trail in local fiscal administration by making moves preparatory to the adoption of Commission on Audit’s digital transformation in the review of government financial transactions, being introduced by its Chairman Gamaliel Cordoba. Parañaque City is just settling down from its mood of celebration for many good reasons, after being accorded by the Commission on Audit the unqualified opinion (indicative of the absence of any material misstatements), on the fairness of presentation of its financial statements for the calendar year ending 31 December 2022; after obtaining the unprecedented increase of P10 billion in its asset and equity after 12 months of Dr. Eric’s administration, with the overwhelming optimism of another P10 bIllion increase expected by 31 December 2023. The city is deserving of three awards of recognition: (1) Most Ready to Adopt CoA’s digital accounting and auditing; (2) Best City Accountant, Ms. Marilou Tanael, for her dedication and hard work in cleansing the accounts, eliminating and reconciling discrepancies, thereby clinching the P10-billion increase in asset and equity; and for enabling all the Punong Barangays of the City to prepare and submit promptly their annual audit reports; (3) Best City Auditor, State Auditor V. Robert Limcolioc, for helping the city recover from utter bankruptcy to its present financial resurgence. Auditor Limcolioc has been most outstanding as a representative of the Commission on Audit guiding the management of Parañaque City. The kind words heard from the department heads of the city about the resident auditor was: “He easily sees the problems and he shows us how to solve them.” The overall performance of the Olivarez leadership in managing the accounts and financial operation of the City of Parañaque is in totality a gift to behold, an accomplishment to marvel at, and one marked by humility worthy of emulation. It took 10 years for the Olivarez leadership — from Edwin to the incumbent Eric — to normalize the finances of the city from the agony of paying the huge bank loan, a burden shouldered by the people of Parañaque for many years, the negative entries involving assets and liabilities were daily ugly sights in the books of accounts until cleared with the help of CoA. The activities initiated by Dr. Eric in Parañaque City relating to digitalization are forerunners of digital accounting and auditing approaches that will be forthcoming in the Philippine financial system, pursuant to the recent advocacy of CoA Chief Cordoba. With his experience and expertise in digital technology and communication, Cordoba hopes to usher the Commission on Audit to new heights through the digital transformation of accounting and auditing. The online/no-contact transaction in granting business permits is an activity typical of the eGovSuper App, a mobile application that can provide multiple services, including payment and financial processing, effectively becoming an all-accomplishing self-contained commerce and communication online platform that embraces many aspects of personal and commercial life. In his eagerness to enhance transparency and prevent corruption, Mayor Olivarez coordinated with Undersecretary for e-Government David Almirol of the Department of Information and Communications Technology. The mayor informed the undersecretary of his full support in adopting the e-GovSuper App one-stop platform that will expedite the processing of local government transactions. Meanwhile, it would be wise to keep on repeating, without becoming redundant, especially on a matter that is alien to many Filipino bureaucrats, that the major thrust of CoA Chair Cordoba includes the development of an easy-to-implement and technologically driven government accounting system compliant with international standards to ensure that all revenues and expenditures are recorded accurately and in real-time and enhancing audit guidelines for e-reports to cover contracts entered into via social media platforms. The post Tale of two cities (2) appeared first on Daily Tribune......»»
CoA: Uninsured GenSan LGU assets at 82%
General Santos City — The Commission on Audit disclosed on Thursday in its latest 2022 Financial Audit Report that of the P2.22 billion worth of General Santos City assets, 82 percent of it remains uninsured. The state auditor said that it found only 18 percent or roughly P399 million worth of assets, infrastructures insured, while P1.829 billion worth of GenSan LGU properties and assets remain uninsured. These included the slaughterhouse with an acquisition cost of P6.3 million; hospitals and health centers, P106.4 million; school buildings, P260 million; markets, P55 million; and other structures, P574 million. Republic Act 656 or the Property Insurance Law stated that all insurable assets, properties and interest of government agencies must be insured to the General Insurance Fund of the Government Insurance System. The post CoA: Uninsured GenSan LGU assets at 82% appeared first on Daily Tribune......»»
CoA flags Cebu City on aid anomalies
The Commission on Audit on Tuesday revealed that it has found irregularities on the local government of Cebu City’s disbursement of financial assistance for victims of typhoon “Odette” worth P791.8 million and other alleged irregularities. The CoA also found that the local government allegedly had unnecessary purchases of T-shirts for different associations and activities amounted to P1.1 million and lapses on granting financial assistance to senior citizens valued at P922.7 million. It added that more than P4.5 billion from delinquent real property taxes could have been collected if tax collection has been efficient and effective. The state auditor also questioned the regularity and validity of the financial assistance for typhoon “Odette” victims as there were deficiencies including signatures opposite the names of some constituents who claimed to have not received the cash assistance, duplication of names and payments and non-submission of complete supporting documents. In December 2021, Cebu City including parts of Cebu Province and the Visayas was hit by typhoon “Odette.” Cebu City Mayor Michael Rama issued Executive Order 149 to set rules and regulations on financial assistance to “Odette” victims. Based on the record of the City Accounting Department, a total of P791.835 million was disbursed in 2022 to 158,367 beneficiaries including P5,000 subsidies for homeowners whose houses were either damaged or destroyed. As part of the audit procedure, the CoA conducted audit survey on whether 241 respondents received the financial assistance. The result 91 said yes while 150 respondents said they have not received the financial assistance. The agency cited 296 names with P1.480 million amount while some beneficiaries were twice or thrice mentioned with 70 having the same barangay and 226 from different barangays. It also noted that distribution was delayed three to 12 months with P138.620 million or 14.90 percent of available funds which remains undistributed. Observations include names lacking the complete information such as middle names and the names of their sitios of residence, duplication of misspelled or interchanged names which may refer to one, and non-submission of the endorsement letter or barangay certificate of residence and copies of the valid identification card with specimen signatures of the beneficiaries. The City agreed to CoA’s recommendation to further investigate the noted deficiencies. The post CoA flags Cebu City on aid anomalies appeared first on Daily Tribune......»»
PAGCOR strengthens controls to make Phl a significant gaming destination
Philippine Amusement and Gaming Corporation chairman and CEO Alejandro H. Tengco discussed the agency's plans and programs to make the Philippines a leading gaming destination in the ASEAN region. Chairman Tengco was invited to deliver the keynote address on the third day of the G2E Asian IR Summit in Macau on 13 July 2023. In his speech, the PAGCOR chief expressed optimism that with the gaming regulatory reforms which the agency is undertaking, the Philippine gaming industry will be more responsive to the needs of the changing times while addressing the social ills that come with gaming operations. The Philippine gaming industry started to bounce back as it gradually transitioned into the new normal. Following its mandate to regulate and uphold the integrity of gaming operations in the Philippines, PAGCOR generated P58.96 billion in 2022, an impressive 66.16 percent year-on-year increase from its P35.48 billion total income in 2021. Net income last year reached P4.45 billion, a 2,000% leap from P203.57 million recorded in 2021. This achievement enabled the agency to fulfill its other role as the government's partner in generating revenues for socio-civic programs by increasing its contributions to nation-building from P22.91 billion in 2021 to P34.67 billion in 2022. Given PAGCOR's dual role as operator and regulator, its operations have been scrutinized by crucial decision-makers and major gaming industry players. Thus, since its assumption a year ago, the new PAGCOR Board of Directors has started strengthening the agency's regulatory function and has promoted the privatization of PAGCOR-run Casino Filipino facilities. Such a move will allow the corporation to grow and compete in both domestic and international markets by infusing new capital and advanced technologies, which can facilitate expansions, upgrades, and innovations. "By focusing on its regulatory functions, PAGCOR will be able to avoid the complexities of running two different shows. It can also streamline its processes and create more revenues to fund more high-impact government projects," Tengco said. However, before PAGCOR gaming venues are privatized, they will be upgraded to add value to the properties. Programs include the modernization of Information and Communication Technology and Cybersecurity infrastructure, including its Casino Management System and introduction of the Casino Filipino Online; upgrading of more than 3,000 electronic gaming machines (EGMs); and updating PAGCOR Technical Standards for EGMs. To combat the proliferation of illegal gambling in the country, PAGCOR coordinates with various law enforcement agencies. It has instituted reforms to address the Philippine Offshore Gaming Operations, recently associated with crime, money laundering, and corruption. It has canceled the contract entered by the previous Board with the third-party auditor for offshore gaming operations, introduced new fees, and imposed heavy fines and penalties on licensees and service providers engaged in criminal activities. Furthermore, accreditations were suspended and canceled, and licensees were held responsible for the conduct of their service providers. Despite these, online gaming operations' gross revenue is projected to reach P24 billion by the end of this year, more than double last year's P11 billion. Tengco stated, "We shall undertake this painstaking process to weed out the unscrupulous companies and individuals using the PAGCOR license for illegal activities, tainting the name of the whole industry, especially the Philippines." PAGCOR has likewise accredited Gaming System Service Providers for Traditional Bingo, Electronic Bingo, Electronic (eCasino) Games, Sports Betting, and E-Billiards. Its licensed casinos were recently allowed to use remote gaming platforms for live casino games catering to their registered casino players. PAGCOR is studying the possibility of regulating other facets of overseas gaming operations or regulating a particular class of business process outsourcing. Through closed borders during the COVID-19 pandemic, PAGCOR has evolved and continues to adapt to the changing times by licensing new gaming options within its jurisdiction and adequately regulating them. "I know much still needs to be done, but I believe that we are on the right track towards making the Philippines a prime gaming destination in the ASEAN region," Tengco concluded. The post PAGCOR strengthens controls to make Phl a significant gaming destination appeared first on Daily Tribune......»»
Kudos, Dr. Eric Olivarez (2)
Yesterday I was asked how sure I was that the resident auditor was true and correct in his conclusions about the accounts and results of the financial operations of Parañaque City as of 31 December 2022. As sure as the rising sun, I said. I explained that the audit covered areas by the instructions of the Assistant Commissioner and the Director of the National Capital Region, both Local Government Sector of the Commission on Audit through the memoranda they issue, in addition to the areas identified during the risk assessment for the audit of the accounts and transactions during the year. The observations presented and discussed in the report are residual issues and addressed after the issuance of the Audit Observation Memorandum together with the recommended courses of action, management’s comments, and the auditor’s rejoinder, where appropriate. It is very clear, therefore, that the audit report is not the product of the audit team alone but of the Commission on Audit and the management. Dr. Eric continues to reap the rewards of his toil, the following significant accomplishments: Major projects completed: Construction of Fisherman’s Wharf; Construction of various school buildings; Construction of various multi-purpose halls; Construction of various child development centers; Construction of daycare centers. Various awards and recognitions the city received: Good Financial Housekeeping Passer for CY 2022; Sixth Place in Top 10 Highest Locally Sourced Revenues among Cities during the National Top Performing Provinces, Cities, and Municipalities in Local Revenue Generation for Fiscal Year 2021; Gawad Kalasag Seal of Excellence for being Beyond Compliant for garnering a rating of 2.66 in the Gawad Kalasag Seal for Local Disaster Risk Reduction and Management Councils and Offices Category for CY 2022; Certificate of Recognition for outstanding performance during the Vax Baby Vax Campaign (Routine Catch Up Immunization Activity) by achieving 122.16 percent vaccination coverage of the targeted eligible population; Green Banner Seal of Compliance Award; Special Award for Best Local Government Unit in Nutrition Governance; Special Award on Best Local Government Unit in the Implementation of National Dietary Supplementation Program; Special Award for Best Local Government Unit in the Performance of Nutrition Management Functions; Special Award on Best Local Government Unit in the Implementation of Philippine Integrated Management of Acute Malnutrition Program; Special Award on Best Local Government Unit in the Implementation of Nutrition Promotion Program for Behavior Change in CY 2022 Regional Nutrition Awards; Certificate of Recognition 1st Place — Most Exemplary in Disaster Response Operations Reporting (Pinakamahusay na Pag-uulat ng mga Operasyong Pangsakuna); Certificate of Recognition 2nd Place in the Most Exemplary in Yearly Accomplishment (Pinakamahusay sa Taonang Pagsasakatuparan) Response Operations Category; Certificate of Recognition 1st Place in Most Exemplary in Advocacy Campaigns (Pinakamahusay sa Adbokasiya); and Certificate of Appreciation for invaluable support during the conduct of Listahan 3rd Round National Household Assessment. There are still 302 lots with Transfer Certificates of Title or TCTs that have not been transferred in the name of the city casting doubt on the existence and ownership by the city. The International Public Sector Accounting Standard or IPSAS 17 on Property, Plant and Equipment provides the guidelines for the measurement of recognition of PPE. With little more hard work on research and dedication by the City Accounting Office and the continued guidance on the enabling law and jurisprudence as bases for transferring land titles in the name of the city, who knows, by next year, there might be another ten billion pesos added to the city’s assets and equity. Section 39 (2) of PD No. 1445 states that in the case of deeds to property purchased by any government agency, the Commission shall require a certificate of title entered in favor of the government or other evidence satisfactory to it that the title is in the government. (To be continued) The post Kudos, Dr. Eric Olivarez (2) 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......»»
Pag-IBIG Fund earns COA’s highest audit rating for record 11th straight year
Pag-IBIG Fund has earned the Commission on Audit’s highest audit rating on the presentation of its financial statements for the 11th consecutive year, top officials announced on Monday, 3 July. State auditors, in a letter dated June 22, informed Pag-IBIG Fund that it has rendered an unmodified opinion on the fairness of the presentation of its financial statements for the years 2021 and 2022. In the same letter, COA upgraded its prior issued modified opinion on the agency’s books for the year 2021, after Pag-IBIG Fund enhanced its data migration system following the state auditors’ recommendations. These developments have enabled the agency to maintain its streak of garnering COA’s highest audit rating for the 11th straight year. “This is truly a significant milestone in Pag-IBIG Fund’s history. Earning the highest opinion from COA for the 11th consecutive year is yet another proof that Pag-IBIG Fund has been, and continues to be, managed properly. This is a testament to how Pag-IBIG Fund upholds excellence and integrity in managing their funds, in the fulfillment of our mandates and in line with the directive of President Marcos of providing Filipinos with more stable and more prosperous lives,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees. COA rendered unqualified opinions on Pag-IBIG Fund’s financial statements from 2012 to 2017 and unmodified opinions for the years 2018 to 2022. Auditors use both unqualified and unmodified opinions, which are the highest opinions that COA can give to a government agency or corporation, to mean that the financial statements of a company or agency are presented, in all material respects, in accordance with applicable financial reporting frameworks. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, emphasized the value of the state auditor’s findings citing that these fittingly complete the agency’s best performing year of 2022. “The year 2022 stands out as our best performing year yet, as we posted our highest ever annual net income of P44.50 billion. We also posted record-highs in home loan takeout worth P117.85 billion which benefitted 105,212 members who now have new or better homes, membership savings collections amounting to P79.90 billion and loan payment collections worth P127.42 billion. We also extended P53.76 billion in short-term loans to aid a record-high 2,612,491 members with their financial needs. In the same year, we also launched service innovations such as the Virtual Pag-IBIG Mobile App and the Lingkod Pag-IBIG On Wheels, which now provide our members better access to our services and benefits.” Acosta said. “With our 2022 performance capped by this unmodified opinion from COA, this shows that we have achieved our best performance ever while maintaining the highest standards of financial integrity. This is what our members and stakeholders can expect from us, that we shall remain transparent in our operations and serve them with excellence and integrity,” Acosta added. The post Pag-IBIG Fund earns COA’s highest audit rating for record 11th straight year appeared first on Daily Tribune......»»
DoE touts P6.8B in energy efficiency outlays
The Energy Utilization Management Bureau of the Department of Energy or DoE has reported P6.8 billion worth of energy efficiency investments from 2021 to 2022. This was based on the Annual Energy Efficiency and Conservation and Annual Energy Consumption Reports submitted by the Designated Establishments or DEs for the compliance period of 2021-2022. Energy efficiency investments include projects that use energy-efficient technologies and practices. “I am very pleased that our DEs are moving forward on energy efficiency and conservation or EEC. These accomplishments bring multiple benefits for companies,” Energy Secretary Raphael Perpetuo Lotilla said. “Industry has a crucial role to play in our quest toward achieving a low carbon-intensive economy and, more importantly, integrating this in their business models,” he added. DEs are private entities in the commercial, industrial, transport, power, agriculture, public works and other sectors identified by the DoE as energy-intensive industries based on their annual consumption from the previous year. Type 1 DEs had an annual energy consumption of 500,000 kWh to 4,000,000 kWh in the prior year, while Type 2 DEs had an annual energy consumption of more than 4,000,000 kWh for the previous year. The DoE also recorded increased investments in solar PV, variable frequency drives, cogeneration systems, district cooling systems, pumping systems, HVAC systems, compressed air systems, smart manufacturing systems and building energy management systems. For Type 1 DEs, an investment of around P360 million was recorded, while around P6.1 billion was recorded for Type 2 DES. A total of 4,782 DEs with an annual energy consumption threshold equivalent to more than 100,000 kWh recorded an investment of around P306 million. DEs are mandated to integrate energy management system policies into their business operations based on ISO 50001 or a similar framework. Likewise, they are required to set up programs to develop and design measures that promote energy efficiency, conservation and sufficiency, including installing renewable energy technologies. They also need to conduct an energy audit by engaging a certified energy auditor once every three years and submit energy consumption reports to the DoE. The post DoE touts P6.8B in energy efficiency outlays appeared first on Daily Tribune......»»
What we know about India’s worst rail tragedy in decades
India's deadliest train disaster in decades killed at least 275 people and injured hundreds more, a tragedy officials have said was linked to an electronic signal system. While a final report has not been released into Friday night's crash near Balasore in the eastern state of Odisha, local media quoting preliminary investigations have pointed to human error connected to the signaling system. Trains resumed operations on tracks past the crash site on Monday. Here is what we know so far: What happened? The Coromandal Express, a passenger train travelling from Kolkata to Chennai, was diverted onto a loop line on Friday evening and slammed into a stationary goods train loaded with tons of iron ore. The collision flipped the carriages of the Coromandal Express onto another track. The derailed compartments then struck the rear carriages of another fast train, the Howrah Superfast Express from India's tech hub Bengaluru, which was passing in the opposite direction. The two fast trains were carrying more than 2,000 passengers. Trains in India are usually packed at this time of year, with many people travelling during school holidays. What went wrong? Ashwini Vaishnaw, India's railway minister, has suggested the crash happened due to the "change that occurred during electronic interlocking". That refers to a complex signal system designed to stop trains colliding by arranging their movement on the tracks. "We have identified the cause of the accident and the people responsible for it," Vaishnaw said, but added it was "not appropriate" to give details before a final investigation report was completed. Local media have quoted a preliminary investigation report, with the Times of India saying a "human error in signaling may have caused the collision between three trains". India's Railway Board has recommended a high-level probe into the disaster by the federal investigating agency. How many died? The death toll has been revised several times since the crash. Officials had initially reported it stood at 288 but the Odisha state government has since revised the toll downwards to 275 after some bodies were mistakenly counted twice. Of the 1,175 injured, 382 were still being treated in hospitals, authorities said Sunday. However, many fear the death toll could still rise because medical centres are overwhelmed by the number of casualties. It is the worst crash since 1999, when 285 were killed when two passenger trains collided at Gaisal in West Bengal, an accident blamed on human error. India's worst crash was in 1981, when an overcrowded passenger train plunged into a river during a cyclone in Bihar state, killing about 800 people. India's safety record India has launched a $30 billion railway infrastructure modernization in a bid to boost the economy and connectivity, and Vaishnaw said last month tracks were being "upgraded very rapidly". In 2022, India built 5,200 kilometers (3,230 miles) of new tracks, and upgraded or replaced about another 7,500-8,000 kilometres, Vaishnaw said. But analysts say that while accidents have reduced over time, India's antiquated rail system still has a long way to go. An average of 20,000 people died each year between 2017 and 2021 in rail accidents -- collisions, derailments and other causes -- according to official records. A report by the Comptroller and Auditor General of India, the country's top audit authority, said derailment was the reason for 69 percent of the accidents. Defective tracks, poor maintenance and old signaling kit combined with human error were the main cause, it said. Indian Railways, the world's fourth-largest rail network, runs some 14,000 trains daily with 8,000 locomotives over a vast system of tracks some 64,000 kilometers (40,000 miles) long. The trains carry more than 21 million people each day. The post What we know about India’s worst rail tragedy in decades appeared first on Daily Tribune......»»
MIF won’t threaten LandBank, DBP
The prospect of the state-owned Land Bank of the Philippines or LandBank and the Development Bank of the Philippines or DBP collapsing as a result of their infusions into the Maharlika Investment Fund is overblown. National Treasurer Rosalia de Leon assured the public on Saturday that LandBank would remain strong even if the proposed Maharlika Investment Fund or MIF failed. De Leon made the assurance during the Saturday News Forum on the sovereign wealth fund into which LandBank is expected to contribute P50 billion of the MIF’s P125-billion seed capital. DBP, another state-run bank, and the national government are expected to contribute P25 billion and P50 billion, respectively, to the MIF. “LandBank has about P1.3 trillion in investible funds. It will allocate P50 billion to the MIF, less than 3 percent of its total funds. So that means its investment is minimal. It will not affect the prudential ratios imposed by the Bangko Sentral,” De Leon said. Small portion of banks’ assets “On the other hand, DBP will allocate just about 2.7 percent of its P850 billion in investible funds. So, once again, plenty of funds are available to address the needs of our industries, businessmen, private sector, and even our MSMEs (micro, small and medium enterprises) to meet their respective requirements,” she stressed. De Leon said LandBank, one of the country’s largest universal banks, is a “very stable bank” in terms of assets since it’s a government fund. The National Treasurer said the MIF bill passed by both houses of Congress has safeguards in place to prevent graft and corruption. MIF has external auditor De Leon said an external auditor will be appointed to oversee the use of the funds. The auditor will be responsible for ensuring that the funds are used following the law and that there is no misuse of the money. “Each section of this proposed law pertains to safeguards to ensure the protection of the public funds so that they can be directed towards the objectives for which the fund was established,” she said. The post MIF won’t threaten LandBank, DBP appeared first on Daily Tribune......»»
Verses versus vices (3)
Stanza 44 of this continuing satire in free verse versus corruption and vices, is addressed to Heidi Mendoza. “On the basis of her audit report that never was,” she told the Senate Blue Ribbon Committee that CoA chairman Guillermo Carague, Commissioner Emmanuel Dalman, and CoA directors did not help her in the investigation from 2001 to 2004 when Major General Carlos Garcia was AFP Comptroller. These lies were globally telecast and not only chairman Carague was embarrassed; all the other CoA chairmen were asked to explain why. Through Heidi’s false claim — that CoA did not help her — the highly respected audit institution was put to shame. Heidi besmirched and tarnished the honor and dignity of the CoA officials. The damage was irreparable. Under no reasonable ordering of society can it be philosophically and judiciously asserted that Heidi’s right to free speech is higher than the right of CoA officials to their good name and their reputation. The esteem with which their peers hold them is the basis for their social relations, the backbone of their social interaction. 29 But who really is accountable Grace and Heidi caused all the trouble Can you hold the lawmakers responsible Do they sign the vouchers and the payroll 30 They only sign what is endorsable Most likely the head of IA is answerable Now let us deviate without the rhyme And trace the tension of our time 31 May I ask the following questions So you can have some sort of conclusion Who has the power of contempt? To compel employees in the government 32 To submit a complete list of congressmen Who received releases for their constituent Who has the power to hold the salaries? Who fails to obey demand under query 33 Who keeps the general accounts of government? Nobody else but Grace and Heidi again and again Any movement of funds from item to item Is impossible to occur without their knowing them. 34 Any illegal juggling of funds could have been stopped How come Grace and Heidi did not stop the DAP? From the auditor’s instinct and point of view Is a failure to obey the fundamental law. 35 Article IX-D of our 1987 Constitution Section 12-2 of the Code of audit commission Command to Pulido Tan and Heidi Mendoza To control the release of DAP and Malampaya 36 “He did not deny any of our findings/” “He did not say we missed something.” “That’s great. That’s vindicating.” “We can disallow, demand refunding.” 37 A newspaper on 28 August 2013 “Quit erroneous, PDAF reporting!” “Resign for irreparably damaging” “Disservice to Way Kurat for grave mistaking!” 38 In August was “Kahindik hindik” disclosure In September was “explosive” exposure Malampaya explosion cocksure to occur Premature again is the bomb detonator. 39 Why always the haste to hit the headline Why all the fuss? P5-billion unsettled cash advance In 1999 it was P7.7 billion more than CoA then had it settled without beating the drum. 40 CoA Chair Pulido Tan is like Ferdinand And Heidi Mendoza is like Magellan, Peas in a pod whom both assumed the greatness of the explorer who discovered our islands on 16 March 1521 They believe everything great in CoA started since they began. 41 They boast of having won the bright spot in London But old folks found them as silly as cartoon Citizen participatory audit violates the Constitution. No basis whatsoever for any legislation. 42 Given the track record of Grace and Heidi They will pick auditors from their party Not from the plantilla of the audit commission Causing chaos and widespread protestation. 43 Premature disclosure of audit finding Is common hallmark of Heidi’s auditing Pasiklab muna saka na ang ebidensya Dismissed and kaso sa korte suprema. 44 Heidi’s tall tale of lies goes on to flourish Her tongue in revenge continues to unleash Words that poison with intent to demolish Even one’s good name, one’s blood and flesh. The post Verses versus vices (3) appeared first on Daily Tribune......»»
PAGCOR junks P6 billion deal with third-party POGO auditor
The Philippine Amusement and Gaming Corp. has terminated its P6-billion contract with Global ComRCI, the third-party auditor for Philippine offshore gaming operators (POGOs) found to have no business permit and been remiss in paying taxes......»»
COA questions ‘validity and propriety’ of Land Titling Computerization Project
The Commission on Audit has questioned the “validity and propriety” of the Land Titling Computerization Project (LTCP) of the Land Registration Authority (LRA)that lacked approval of the President and allegedly deprived the government an estimated P3.12 billion in possible income. COA has questioned the Build-Own-Operate Agreement (BOO) for the implementation of the LTCP that has so far earned for the private partner of the LRA some P21 billion in just 10 years. The audit agency’s observations are contained in the recently-released 2019 LRA annual audit report submitted to LRA Administrator Renato Bermejo by COA Director Michael Bacani. The LTCP introduced the automation of the functions and processes and standardization of the registration procedure for land registration in the country. COA said the BOO between the LRA and the Land Registration Systems Inc. (LARES) lacked the mandatory approval of the President as required under Republic Act 77198. “Other necessary documentary requirements were likewise not submitted to the Office of the Auditor, thus, validity and propriety of both the BOO and the corresponding IT service fees collected and released by LRA to Lares, Inc. amounting to more or less P20 billioin out of the P21 billion, as doubtful,” COA stated. The BOO was originally entered into by LRA with the Stradec FF Cruz and CONFAC (SUFC) Consortium, now LARES), in 2000 for the implementation of the agency’s Information Technology Network and Database Infrastructure Project. In a special audit on the contract that was conducted by COA from 2004 to 2005, the audit agency concluded that the LTCP “was not efficiently and effectively implemented and the interest of the government and the public was not adequately protected” due to the delay in its implementation. In the 2015 annual audit report, COA observed that various documents covering the BOO were not certified true copies, including the presidential approval of the agreement through then Executive Secretary Ronaldo Zamora. In 2019, COA sought confirmation of the presidential imprimatur of the agreement but Malacanang was not “able to provide positive confirmation on the authenticity of the presidential approval dated July 31, 2000” that was ostensibly signed by Zamora. Originally costing just P3.483 billion, the project was able to earn P21 billion, P20 billion of which was released to LARES. The LRA management took exception to COA’s doubts on the validity and propriety of the BOO agreement is”without factual and legal basis”. Officials of the agency also pointed out that all BOO Contracts are presented to the president through the National Economic Development Authority. “Since the President chairs the NEDA Board, NEDA Board approval already carries with it the president’s approval,” the LRA argued. In the same audit report, COA disclosed that the LRA has failed to incorporate amendments to the agreement with LARES for the provisions of reasonable rate of return (ROI) to ensure that “no unwarranted benefit is given to the LARES” at the expense of the public.” “Likewise the absence of a revenue sharing arrangement deprived Government of more or less P3.12 billion of possible income,” the state audit agency noted. Audit examiners stressed that LRA has continuously failed to assess the “extent of recoupment of the investment” relative to the total IT services fee imposed and collected. They said this is”detrimental to the paying public which the government ought to protect.” COA also assailed LRA for allowing the use of 12 “outdated” network switches, “causing security vulnerability and possible performance defect due to bugs.” Further, only two out of 10 software licenses were used for the project. Among the outdated software installed was the Kaspersky Security version 10.0.0.485......»»
Chinese Diplomat Liu Jianchao Meets With Singapore s Leaders
singapore - Liu Jianchao, the senior diplomat widely expected to become China's next foreign minister, said "the world needs connectivity, not decoupling," during a four-day visit to Singapore.Liu, who heads the international department of the Communist Party, was in the city-state to meet with Prime Minister Lee Hsien Loong and the country's incoming leader, Deputy Prime Minister Lawrence Wong.During a s.....»»
Akbayan to Sara: You don’t have to be president to speak vs China
MANILA, Philippines — Party-list group Akbayan said on Thursday that Vice President Sara Duterte does not have to be a president of the country for her to call out China’s intrusive actions over the West Philippine Sea (WPS). Empathy and a moral backbone is just what it takes to stand up with fisherfolk and frontline.....»»
Milk tariff collections rise by 31% to P2.4 billion
Revenues raised by the government from various imported milk products jumped by 31 percent to P2.36 billion in 2023, the highest in at least eight years, from P1.8 billion in 2022......»»
Sy family invests P5 billion in Megawide affiliate
The Sy family is once again playing a big brother role to a company led by businessman Edgar Saavedra, this time investing in Megawide’s affiliate renewable energy real estate investment trust......»»
PRO-Davao no idea of Quiboloy’s whereabouts
THE Police Regional Office-Davao Region (PRO-Davao) has responded to the accusations of Makabayan ACT Teachers Party-List Rep. France Castro that they are “clueless about the whereabouts of Pastor Apollo Quiboloy”......»»