PNR sees 80% decline in monthly revenues on transport restrictions
THE Philippine National Railways (PNR) is expecting an 80% decline in monthly revenues due to government restrictions as the country gradually eases lockdown measures.
RCEF seed deliveries reach one million bags
INBRED RICE seed delivery under the Rice Competitiveness Enhancement Fund (RCEF) has reached more than one million bags, the Philippine Rice Research Institute (PhilRice) said on Friday.
Bailouts tied to firms’ ability to raise bank financing
THE government said a proposed equity infusion program for large companies will match whatever amount an individual firm can raise from banks, while program participants cannot declare dividends, must freeze executive pay, and defer spending on non-essentials.
House panel approves P1.5 trillion stimulus substitute bill
THE House of Representatives’ Defeat COVID-19 Committee on Thursday approved a substitute measure to House Bill 6709 which calls for a P1.5-trillion spending program over three years to address slowing economic growth and create jobs.
DTI says Price Act fines do not deter violations
THE Department of Trade and Industry (DTI) said Thursday it will seek amendments to the Price Act to upgrade the prescribed fines for price manipulation and other violations.
Special session proposed to pass CREATE bill, other critical measures
A LEGISLATOR has asked President Rodrigo R. Duterte to seek a special session of Congress in order to pass “critically-needed” measures to boost the economy, such as the proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE).
Higher demand seen likely to pull up June WESM prices
PRICES at the Wholesale Electricity Spot Market (WESM) are likely to increase with demand expected to pick up as industries and commercial establishments set to resume operations in June, its operator reported.
Sotto estimates P548B needed for economic stimulus in 2020
SENATE President Vicente C. Sotto said the chamber’s stimulus bill is expected to require P548 billion in funding for the remainder of 2020 and a further P80 billion next year.
CREATE bill approval by June 3 seen possible
THE proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) could be approved on final reading ahead of the Congressional break, Senate President Vicente C. Sotto III said on Wednesday.
Non-expiration of franchises approved in principle by Senate committee
THE Senate Committee on Constitutional Amendments and Revision of Codes approved in principle on Wednesday a measure allowing franchises with pending renewal applications in Congress to continue operating past the franchise expiration date.
Lopez says pandemic warrants review of drug price controls
TRADE Secretary Ramon M. Lopez proposed a review of drug price controls to help the pharmaceutical industry better respond to coronavirus disease 2019 (COVID-19).
DBM sees only P130 billion in budget realignments for stimulus
THE Department of Budget and Management (DBM) said the government has about P130 billion on hand from savings and budget realignments with which to fund stimulus measures, much less than various proposals now being considered in Congress.