Facebook Instagram Linkedin X Youtube
Home Blog Page 1131

PSEi climbs above 6,300 mark on Fed cut hopes

REUTERS

PHILIPPINE SHARES jumped on Wednesday as the market tracked gains on Wall Street after the July US consumer inflation data released overnight bolstered expectations of a September rate cut by the US Federal Reserve.

The benchmark Philippine Stock Exchange index (PSEi) rose by 0.56% or 35.24 points to close at 6,325.09, while the broader all shares index went up by 0.35% or 13.37 points to 3,764.64.

“The local market extended its rise this Wednesday on the back of positive cues from Wall Street. This comes as the US’ July inflation rate came in at 2.7%, unchanged from the prior month and below expectations, raising hopes that the Federal Reserve will cut policy rates in their next meeting,” Philstocks Financial Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.

“The PSEi closed at 6,325.09, up by 0.56%, as investors’ confidence was renewed after the index’s strong performance [on Tuesday] and the influx of more corporate earnings reports,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message. “Sentiment was also lifted by the steady US inflation report, which could influence the Fed’s monetary policy and overall investor sentiment in the country.”

Wall Street’s main indexes rose on Tuesday, with the S&P 500 and the Nasdaq at record highs after data showed inflation rose broadly in line with expectations in July, bolstering expectations that the US Federal Reserve could lower interest rates next month, Reuters reported.

A Labor Department report showed that the consumer price index rose by an expected 0.2% on a monthly basis in July, while annual inflation came in slightly below forecasts, drawing calls from US President Donald J. Trump to lower interest rates.

However, there was also some caution, as the data suggested that underlying inflation rose by its fastest pace in six months in July as markets look for signs that tariffs and trade uncertainty were filtering into prices.

The majority of sectoral indices closed in the green on Wednesday. Holding firms jumped by 1.47% or 77.60 points to 5,336.87; financials increased by 1.12% or 23.81 points to 2,150.05; property rose by 0.41% or 10.04 points to 2,438.55; and industrials climbed by 0.13% or 11.61 points to 8,927.40.

Meanwhile, services declined by 0.92% or 21.59 points to 2,315.58 and mining and oil fell by 0.17% or 16.25 points to 9,330.78.

“Alliance Global Group, Inc. was the top index gainer, jumping 7.14% to P7.50. Bloomberry Resorts Corp. was the main index laggard, plunging 8.61% to P3.29,” Mr. Tantiangco said.

Value turnover dropped to P10.61 billion on Wednesday with 893.55 million shares traded from the P13.73 billion with 756.75 million shares exchanged on Tuesday. 

Advancers bested decliners, 103 versus 91, while 58 names were unchanged.

Net foreign buying went up to P973.04 million on Wednesday from P239.51 million on Tuesday. — R.M.D. Ochave with Reuters

DFA: Nearly 70 migrants in US ICE custody

SENATOR Rafael T. Tulfo led the Senate Committee on Migrant Workers’ hearing on issues hounding overseas Filipino workers, Aug. 13. — SENATE PRIB

THE DEPARTMENT of Foreign Affairs (DFA) on Wednesday said that about 69 Filipino migrants are in the custody of the US Immigration and Customs Enforcement (ICE) amid the American government’s immigration crackdown.

“So far, the information ICE has given us is that there have been about 69 are now under process, and we are providing legal assistance,” Foreign Affairs Undersecretary Eduardo A. de Vega told the Senate panel on Migrant Workers.

He added that a total of 23 Filipinos have been deported from the US, following the government’s crackdown on illegal immigration.

The US government began targeting undocumented immigrants and restricting legal pathways for migration, following the start of US President Donald J. Trump’s second term. Some immigrants were also reportedly transferred away from their county of origin.

The committee was holding an inquiry into the issues faced by Filipino migrant workers, including potential deportation, abuse cases, human trafficking.

During the hearing, Senator Erwin T. Tulfo asked the DFA if Filipinos have been sent to other countries, like El Salvador.

“Can’t you or haven’t you tried to tell ICE or its Department of Homeland Security, [that] if you catch any Filipinos, can you contact us because we will just send them home and not take them somewhere, to El Salvador?” Mr. Tulfo asked.

Mr. De Vega assured the Senate panel that no Filipinos have been deported to other countries.

“There has been deportation, but all of them were to the Philippines. None of them were sent to other countries,” he said.

He added that the Manila and Washington have an internal agreement that informs the country when a Filipino in the US is facing potential deportation.

“We have an internal agreement with the US. Every time they arrest a Filipino, not just for deportation, even in criminal cases, the government should be informed,” Mr. De Vega added.

Additionally, Senator Rafael T. Tulfo, who chairs the committee, called on the Department of Migrant Workers (DMW) and the Overseas Workers Welfare Administration (OWWA) to monitor overseas Filipino workers (OFWs) in their host countries to prevent abuses.

“It goes back to the monitoring. I don’t know who’s lacking — DMW or OWWA,” he said.

“Today, we will address that problem because if we don’t, when the budget hearing comes, I’m sorry, I might have to hold back your budget first.”

He also urged the agencies to properly verify the contracts of OFWs especially employer’s background, security assessment of the place of deployment and strict compliance by foreign employer of contract terms and conditions.

Mr. Tulfo said that the DMW should forge more bilateral agreements with host countries that will only provide favorable terms to our OFWs.

He also called to strengthen efforts to secure backdoor channels to “put an end to the trafficking of migrant workers,” along with “continue efforts to apprehend and penalize illegal recruiters, both here and abroad.” — Adrian H. Halili

Chinese fighter ‘intercepts’ Philippine plane over disputed shoal, Manila says

PHILIPPINE STAR/MICHAEL VARCAS

OVER THE SCARBOROUGH SHOAL, South China Sea — A Chinese jet fighter “intercepted” a Philippine aircraft carrying journalists during a patrol flight over the Scarborough Shoal on Wednesday, the Manila government said, days after two Chinese vessels collided in the area while allegedly trying to block a Philippine supply mission.

A Reuters journalist aboard the Philippine Coast Guard (PCG) flight watched as the Chinese fighter closed in on the small Cessna Caravan turboprop. At one point the Chinese fighter came within about 200 feet (61 meters) as it maneuvered behind, above, and alongside the plane, PCG spokesperson Jay Tristan Tarriela said.

It was the latest sign of the persistent tensions between the two nations in the disputed South China Sea atoll.

“While they were conducting the flight, they have been intercepted by a Chinese fighter jet,” Mr. Tarriela told a press conference held afterwards.

The encounter lasted 20 minutes, during which radio demands from one of two Chinese navy ships spotted below ordering the Philippine plane to “leave immediately” could be heard from the cockpit.

The same day, two US warships — littoral combat ship USS Cincinnati and the destroyer USS Higgins — were spotted about 30 nautical miles away from the shoal, Mr. Tarriela said.

China’s military claimed it “drove away” the US destroyer after it entered the area without permission, but Washington said its ships were conducting lawful freedom of navigation operations.

Located 200 kilometers (124 miles) off the Philippines and inside its exclusive economic zone, Scarborough Shoal is valued for its rich fishing grounds and sheltered lagoon.

On Monday, the PCG sent three vessels to carry supplies to dozens of Filipino fishermen in the atoll. It said Chinese vessels then intervened to carry out what it called a “hazardous” attempt to prevent the delivery, leading to the first known collision between two Chinese ships in the area.

China has not confirmed if any crew were injured, and ignored Manila’s offer of medical and rescue aid.

Neither China’s Defense ministry nor its embassy in Manila has commented on the incident. On Monday, China’s coast guard said it took necessary measures to expel Philippine vessels from waters around the shoal.

The United States also condemned Beijing’s “reckless” actions.

Sovereignty over the shoal remains unresolved, but China, which rejects the ruling, has maintained a constant presence at the reef since seizing it in 2012, deploying coastguard vessels and “maritime militia.”

At least four Chinese coast guard vessels, and several ships identified by the PCG as “maritime militia,” were visible in the area during Wednesday’s patrol flight.

NEW BLACK HAWK CHOPPERS
Meanwhile, the Philippine Air Force (PAF) on Wednesday formally received the third batch of new utility helicopters as part of the country’s military modernization program.

The five S-70i Black Hawk helicopters that arrived on July 15 were formally received by the Philippine Air Force in a ceremony led by Philippine Lieutenant General Arthur M. Cordura, commanding general of the air force, at the Clark Air Base in Pampanga province, PAF said in a statement.

The helicopters are part of a 32-unit acquisition under a contract with Poland’s PZL Mielec through the military’s modernization program. Ten of the units have been delivered in 2024.

“The S-70i Black Hawk helicopters are known for their versatility, speed and reliability in a wide range of missions,” it said. “With this latest addition, the PAF further strengthens its capacity to conduct humanitarian assistance and disaster response operations.”

The Philippines has launched a sweeping $35-billion, or around P2 trillion, military modernization program aimed at bolstering its defense capabilities over the next decade, including the acquisition of advanced naval vessels, planes, and missile systems, as it pushes back against China’s military might in the region.

This comes as the country faces increased geopolitical challenges, with the South China Sea emerging as a regional flashpoint as Beijing continues to assert sovereignty over almost the entire sea, a vital global trade route believed to be rich in undersea gas and oil deposits.

Manila and Beijing have repeatedly locked horns over maritime features that both nations claim in the contested waterbody, leading to confrontations that involve the use of water cannons and repeated sideswipes by Chinese vessels against Philippine ships.

A United Nations-backed tribunal voided China’s expansive claims in 2016. Beijing, however, has rejected the ruling and continues to increase its presence in the disputed area.

PAF said the choppers underwent “stringent” technical inspections before being accepted to ensure its operational capability. They will be operated by the 205th Tactical Helicopter Wing under PAF’s Air Mobility Command. — Kenneth Christiane L. Basilio and Reuters

More than 1 in 3 disagree with SC’s move to junk VP’s impeachment

BW FILE PHOTO

MORE than one in 3 Filipinos disagreed with the Supreme Court’s (SC) decision declaring the impeachment case of Vice-President (VP) Sara Duterte-Carpio as unconstitutional, according to the latest poll by WR Numero Research.

In its August Philippine Public Opinion Monitor, the pollster found that 34% of 1,418 surveyed from July 29 to Aug. 6, either “disagreed” (26.1%) or “strongly disagreed” (7.7%) with the tribunal’s ruling, compared to respondents who either “agreed” (20.9%) or “strongly agreed” (5.7%). The share of respondents who were “unsure” was, however, higher at 40%.

The tribunal, last July 26, ruled that the impeachment proceedings were unconstitutional after it violated the ban on filing more than one impeachment complaint within a year, breaching Ms. Duterte’s right to due process. As a result, any new complaint against her could only be filed by Feb. 6 next year.

The survey found that there is a “high” awareness among Filipinos, with 67.4% saying they know that the Vice-President facing impeachment complaints, against 32.5% who said otherwise.

Among those who were aware, only 6% said they know enough about the content of the impeachment case and evidence against Ms. Duterte. Around 18% said they have somewhat enough information, while 33% said they don’t have enough information. The remaining 43% said none at all.

Four impeachment complaints had been filed against the Vice-President since December 2024. The House of Representatives dismissed the first three, but the fourth was endorsed by more than 200 lawmakers — exceeding the one-third constitutional requirement to send the charges to the Senate.

Allegations against her include fund misuse, unexplained wealth, destabilization efforts, and plotting to assassinate President Ferdinand R. Marcos, Jr., his wife, and Speaker Ferdinand Martin G. Romualdez. She has denied all charges.

It has been awaiting trial since it was sent to the Senate in February. On Aug. 6, however, the chamber moved to archive the case, in accordance with the SC ruling.

About 82% of those surveyed had expressed the importance of fairness and impartiality of Senator-judges over the impeachment process, while 18% stated that it was not important.

STILL MOST PREFERRED
Meanwhile, WR Numero found that Ms. Duterte remains to be the top presidential candidate for the 2028 elections. Its poll showed that 31% of surveyed Filipinos preferred the Vice-President as a potential candidate for the 2028 Presidential elections.

Her impeachment case remains pivotal for her political career, if she is convicted, she will be perpetually disqualified from holding public office.

Filipinos will be voting a President and Vice-President by 2028, along with a new set of Senators, Congressmen, and local government officials.

Following her was former Vice-President and 2022 Presidential candidate Maria Leonor “Leni” G. Robredo with 13.3%.

Rounding out the top five are Senators Rafael T. Tulfo and Christopher Lawrence “Bong” T. Go received 10.3% and 6.5%, respectively. About 4.4% of responded said that preferred Maria Imelda “Imee” R. Marcos to be a Presidential candidate in 2028.

The WR Numero survey also showed that Mr. Go was among the leading Vice-Presidential candidates for the 2028 election, preferred by about 16.2% of Filipinos.

Trailing him is Mr. Tulfo at 14.9% and Senator Paolo Benigno “Bam” Aquino IV with 8.4%, both are newcomers in the firm’s pre-election polls.

Rounding out the top five candidates are Senator Robinhood Ferdinand “Robin” C. Padilla (7.7%) and former Senator Grace S. Poe-Llamanzares (6.8%). — Adrian H. Halili

Independent audit for infra projects urged

PHILIPPINE STAR/EDD GUMBAN

THE GOVERNMENT needs a multi-stakeholder oversight party to assure checks and balances in infrastructure projects, Former Finance Undersecretary Cielo D. Magno said on Wednesday.

In an interview with Money Talks with Cathy Yang on One News, Ms. Magno said the corruption likely happened due to a “collusion” of government and the private sector or contractors.

“There has to be a space for third-party independent groups to be part of the conversation and really conduct independent audit with respect to the quality of this infrastructure projects,” she said.

President Ferdinand R. Marcos, Jr. on Monday unveiled a list of contractors linked to alleged anomalies of flood control projects, followed by the launch of “Sumbong sa Pangulo” complaint portal.

However, Ms. Magno described that the portal could only be a start but doesn’t address the root problem.

“It creates controversies. It calls attentions, but I think it requires a follow through with respect to policy approach from the President,” she said.

The former Finance official also called for the passage of the freedom of information law and disclosure of beneficial ownership to reveal true owners behind infrastructure projects.

“That’s very important because we can see, and as he said, some of these construction companies are also politicians,” she said.

“We don’t know that because we don’t have a database on who the real owners are of these companies.”

Ms. Magno said the government can build a multi-stakeholder oversight made up of diverse representatives both from the private sector and social civil groups to check for compliance and consistency of projects.

“Actually, multi-stakeholder approach is already embedded in our law. It is encouraged, especially at the local government level. It’s in the local government code,” she said.

During the ceremonial turnover of the 2026 National Expenditure Program (NEP) in the House of Representatives on Wednesday, Leyte Rep. and Speaker of the House Ferdinand Martin G. Romualdez said the Bicameral Conference Committee will invite civil society, people’s organizations, and the private sector to join budget hearings.

In the proposed 2026 NEP, the government plans to allot P235.1 billion for the Flood Management Program of the Department of Public Works and Highways.

It will allocate P2.6 billion for the Metropolitan Manila Flood Control Program to operate and maintain various pumping stations.

This aims to reduce the Pasig River’s conveyance capacity, and upgrade the Effective Flood Control Operation System, to facilitate faster flood recession, and enhance flood monitoring. — Aubrey Rose A. Inosante

Rural infra push underscored

PHILSTAR FILE PHOTO

PRESIDENT Ferdinand R. Marcos, Jr., on Wednesday, underscored the government’s push to expand cold chain facilities and rural infrastructure to raise the incomes of fisherfolk and farmers, saying such investments will cut transport costs and eliminate middlemen in the agriculture supply chain.

Speaking at the inauguration of a rehabilitated fish port in Iloilo, Mr. Marcos said the upgraded facility, which will serve about 1,500 fishermen, now includes cold storage and ice-making capacity powered by solar energy.

The improvements will extend seafood shelf life, allowing it to reach distant markets at higher prices.

The President said the government will build 10 more fish ports across the country, citing regional competitors such as Thailand and Vietnam as models.

“The value-added should remain with our fishermen and farmers, not with the middlemen,” he said in Filipino, according to a live-streamed video on the Radio, Television, Malacañang’s (RTVM) Facebook page.

Mr. Marcos also announced the distribution of fishing boats, tractors, harvesters, and milling machines, adding that grain dryers will be provided to complement the new equipment.

He underscored that infrastructure, from cold storage to retail linkages, is essential to making the fisheries sector more competitive and encouraging more Filipinos to make their living from the sea. — Chloe Mari A. Hufana

Budget transparency resolution OKd

BW FILE PHOTO

THE Philippine Senate on Wednesday adopted a resolution that seeks to upload all budget documents in online platforms, amid public calls for transparency in the budget process.

Senators unanimously approved Senate Concurrent Resolution No. 4, which mandates that all budget related documents should be available to the public online, after three days of debate.

The resolution mandates all documents, including all annexes and attachments of the General Appropriations Bill to be uploaded in the Senate and House website.

All transcripts of committee hearing, briefing, technical working group meetings should also be uploaded in the Senate and House’s websites.

It also orders the committees to produce and publish a matrix comparing the Senate and House versions of the budget bill, including how disagreements were resolved.

Congress should ensure that all budget deliberations, hearings, plenary discussions, bicameral conference committee meetings be available via live streaming.

The House and Senate should also make available platforms for the public to communicate their analyses, suggestions, and feedback on the national budget.

Meanwhile, a local chief executive also called on lawmakers to exercise transparency in the 2026 budget deliberations to avoid corruption and questionable insertions.

“We’re pressuring them to be very transparent about the bicam hearing,” Baguio City Mayor Benjamin B. Magalong told reporters on the sidelines of the Management Association of the Philippines’ (MAP) general membership meeting on Wednesday.

Next year’s budget is expected to face more scrutiny after the 2025 General Appropriations Act faced controversies surrounding alleged fund diversions, questionable allocations for public works projects, and blank line items.

The P6.793-trillion proposed spending plan for 2026 is 7.4% higher than last year’s budget, and equivalent to 22% of the country’s gross domestic product.

He also asserted that the small bicameral committee should not be convened because it lacked transparency.

Nueva Ecija Rep. Mikaela Angela B. Suansing, who will be heading this year’s budget deliberations as the House appropriations panel chairman, said it will be abolishing the “small committee” to ensure a more transparent budget process.

The small committee, which is typically headed by a few elected lawmakers, was originally tasked to consolidate amendments of congressmen and senators on the budget.

During the MAP event, Mr. Magalong urged business leaders and top-level executives to demand accountability and good governance in public office.

“We’re asking the business sector to re-echo, to also demand, and declare support for the good governance and anti-corruption drive that we’re launching as a movement,” said Mr. Magalong.

“If the entire business sector, for example, the MAP, will make a declaration that says, ‘We want you to be transparent about how you formulate the 2026 budget,’ that would be a big deal,” he added.

Mr. Magalong recently said he’s willing to head an investigation on the government’s controversial flood control projects, noting that it must be conducted by an external body.

“I said I’m willing to take the lead, but that would depend on the decision of the President. Because the creation of an investigating body is important, it’s not possible for the investigating body to be Congress,” he told reporters.

Since the beginning of the Marcos administration, about P545 billion worth of flood control projects, but 6,021 of them — valued at P350 billion — lacked clear specifications, President Ferdinand R. Marcos, Jr. said on Monday. — Adrian H. Halili and Beatriz Marie D. Cruz

BI rescues 3 from human trafficking

PHILSTAR FILE PHOTO

BUREAU of Immigration (BI) officers at the Davao International Airport (DIA) rescued three Filipino women from a suspected human trafficking scheme that allegedly intended to send them to Singapore to work as entertainers, the agency reported on Wednesday.

The interception, conducted by the BI’s Immigration Protection and Border Enforcement Section, took place on Aug. 12, when frontline officers stopped two women in their 20s and one 18-year-old before they boarded a Scoot Airlines flight.

Immigration officials said two of them came from Luzon and had traveled to Davao for the trip.

They initially told officers they were traveling together for a five-day holiday, but verification revealed they had been recruited for overseas work.

One victim reported that she was introduced by a neighbor in Davao to a Manila-based contact, who facilitated their travel without requiring payment. However, the contact stated that recruitment expenses amounting to SGD5,000 (approximately P221,846.50) would be deducted from their salaries.

“This is a form of debt bondage,” said BI Commissioner Joel Anthony M. Viado in a statement on Wednesday. “This is a clear case of human trafficking, wherein our kababayan are made to agree to unfair arrangements. In many cases, women who are promised work as entertainers are later forced to work in the sex trade.”

The victims were turned over to the Inter-Agency Council Against Trafficking for further investigation. Authorities have identified two possible recruiters and are also probing the possible involvement of two immigration personnel.

“We commend the swift action of our immigration officers who thwarted this attempt to traffic women abroad. This interception shows that our multiple layers of security are effective,” Mr. Viado said. — Chloe Mari A. Hufana

SC revises rules for rape cases

PHOTO BY MIKE GONZALEZ

THE Philippine Supreme Court revised its guidelines on how courts should classify and penalize rape cases involving minors, broadening the scope of the term “qualified rape of a minor” and raising the minimum damages awarded to victims.

Under the amended guidelines, the term applies when the victim is below the statutory age, now under 16 following a 2022 law, or has comparable mental disabilities, and at least one qualifying circumstance is present. Statutory rape will only apply when no aggravating factor exists.

Minimum damages were set at P150,000 each for civil indemnity, moral damages, and exemplary damages in qualified rape of a minor; P100,000 each in qualified rape; and P75,000 each in statutory rape, with possible increases for cruelty.

“Clearly, not all rape committed against a minor will automatically bear the nomenclature ‘Qualified Rape of a Minor,’” a 9-page resolution penned by now-retired Associate Justice Mario V. Lopez, dated June 30, read.

“The designation should be used only when a special qualifying aggravating circumstance is present and when the victim is below the statutory age or is suffering from mental retardation comparable to the intellectual capacity of a child below the statutory age.”

“The term ‘statutory age’ shall mean either ‘below 12 years old’ or ‘under 16 years old,’ depending on whether the crime of rape was committed before or after the effectivity of Republic Act No. 11648, respectively.”

Qualified rape applies if at least one special aggravating circumstance under Article 266-B of the Revised Penal Code exists and the victim is not under the statutory age or is mentally disabled, like a child of that age. The accused must pay at least P100,000 each in civil indemnity, moral damages, and exemplary damages, with possible increases for extreme cruelty.

If the victim is below the statutory age or has a mental disability equivalent to that of a child of that age, the crime is considered statutory rape. The minimum civil liability is P75,000 each for civil indemnity, moral damages, and exemplary damages, which can be increased if the crime involved extreme cruelty. — Chloe Mari A. Hufana

PPA defers review of higher terminal fees at Batangas port

THE Philippine Ports Authority (PPA) has temporarily suspended its review of Asian Terminals Inc.’s (ATI) petition of adjusted terminal fee at the Batangas port while Oriental Mindoro is still under state of calamity.

The port regulator will immediately resume its review of ATI’s plan to increase passenger terminal fees to P100 from P30 once the state of calamity is lifted in Oriental Mindoro, PPA General Manager Jay Daniel R. Santiago said in a media release on Tuesday.

The province of Oriental Mindoro was placed under a state of calamity caused by the recent typhoons.

ATI, the operator of the Batangas port, had earlier proposed to collect a higher terminal fee at the Batangas port, citing that the increase in fees is a recovery measure after improvements at the port and will help the company in maintaining the terminal.

In 2024, ATI launched the opening of a new and modernized passenger terminal building at the Batangas Port — one of the country’s busiest terminals.

Data from PPA website showed that the upgraded passenger terminal building has a capacity of 8,000 passengers from the previous 2,500. — Ashley Erika O. Jose

Illegal mining crackdown in South Cotabato intensified

COTABATO CITY — Officials of the Region XII police and two other government agencies will intensify crackdown on small-scale copper and gold mining in Tampakan, South Cotabato after two miners drowned in rampaging floodwaters that swept through their clandestine mine site in the municipality.

Local executives and police officials in South Cotabato had reported that the incident left two residents, Johnry Samling and Richard Sumali, dead. They also confirmed that Mr. Samling and Mr. Sumali were engaged in “banlas,” or sluice gold mining using only farming tools and portable motor-driven water pumps

Geologists in the Department of Environment and Natural Resources (DENR) and the Mines Geosciences Bureau (MGB) and mining engineers from Europe and Australia had placed the value of copper and gold deposits in Blaan ancestral lands in Tampakan, waiting to be mined at no less than $200 billion.

Radio reports on Wednesday in Central Mindanao cities and provinces stated that officials of the Police Regional Office-12, under Brig. Gen. Romeo J. Macapaz, and Felix S. Alicer and Efren B. Carido, directors of the DENR-12 and the MGB-12, respectively, are to cooperate in addressing the banlas operations in Tampakan.

The three officials had separately said the national government had only contracted one legitimate firm, the Sagittarius Mines Incorporated (SMI), to mine for copper and gold in Tampakan, which has not started operating since its inception some two decades ago.

Officials of the DENR-12 and MGB-12 and employees of the SMI and traditional leaders in Tampakan have long been cooperating in addressing banlas activities in the municipality even as the firm has not operated the Tampakan Copper-Gold Project yet as contracted by Malacañang.

“We in PRO-12 will support the efforts of the DENR-12 and the MGB 12 in putting an end to all forms of illegal mining activities in that municipality,” Mr. Macapaz said.

DENR-12 and MGB-12 employees had told reporters that legitimate mining firms have extensive environmental-protection thrusts in areas permitted to operate by the government. — John Felix M. Unson

Baguio, Benguet electric users to see big rate drop

BAGUIO CITY — Electricity consumers in Baguio and Benguet, the Benguet Electric Cooperative (BENECO) said, will see a significant drop in their electricity bills this August as residential rates fall to P9.8809 per kilowatt-hour (kWh) from P10.4763/kWh in July.

For households consuming 100 kWh per month, this reduction translates to P53.79 in savings, while those consuming 200 kWh will save P107.58 on their August 2025 electric bill, BENECO detailed.

The overall decrease of P0.5953/kWh in the total electricity rate is mainly driven by lower generation costs, the electric cooperative said.

Generation costs from BENECO’s power suppliers fell to P5.4434/kWh in August from P5.9466/kWh in July. Rates from the Wholesale Electricity Spot Market (WESM) also dropped to P4.7865/kWh from P5.4702/kWh.

In contrast, the transmission cost paid to the National Grid Corporation of the Philippines (NGCP) increased by P0.0801/kWh stemming from higher regulated services charges and the Energy Regulatory Commission’s (ERC) approval of NGCP’s Maximum Annual Revenue Requirement for the fourth regulatory period (2016-2022).

Under this approval, NGCP is authorized to collect P28.297 billion over a period of 84 months, or until the amount is fully recovered. As a result, consumers can expect higher transmission rates for the next seven years, BENECO said.

BENECO General Manager Melchor S. Licoben said that the ERC has granted a Provisional Authority for the implementation of the long-term Power Supply Agreement (PSA) between BENECO and Therma Luzon, Inc. (TLI), which contributed to the reduction in generation cost.

The Emergency Power Supply Agreement (EPSA) by BENECO with GNPower Dinginin ended on July 25.

BENECO is also awaiting action from the ERC on another long-term PSA with Masinloc Power Co. Ltd. (MPCL), which could further help stabilize and potentially lower rates in the future.

“BENECO remains committed to finding ways to bring down electricity rates, as we have consistently done for many years. We continue to optimize our power supply to ensure that our consumers enjoy the most competitive rates possible,” Mr. Licoben promised.

BENECO is among the 90 electric cooperatives in the country reported by the Philippine Rural Electric Cooperatives Association, Inc. to have lower rates compared to MERALCO. — Artemio A. Dumlao

1...1,1301,1311,132...14,215Page 1,131 of 14,215
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin X Youtube