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Palace stands by Budget chief

By Arjay L. Balinbin, Reporter
MALACAÑANG on Thursday stood by Budget Secretary Benjamin E. Diokno amid calls from lawmakers at the House of Representatives for President Rodrigo R. Duterte to remove him over alleged irregularities in the proposed 2019 national budget.
The Palace stressed that the Budget chief’s record is “unblemished.”
“Secretary Diokno’s record in the government service, to the mind of the Chief Executive and of the rest of his cabinet, is unblemished. As one of the Administration’s economic managers, PRRD considers him as one of the best and brightest in his official family. Sec. Diokno’s reputation as an upright, competent and honest public servant stays solid up to this day,” Presidential Spokesperson Salvador S. Panelo said in a statement.
Mr. Panelo noted that the Palace “respects” the House Resolution No. 2365, which urges the Office of the President to reconsider the appointment of Mr. Diokno.
“We similarly wish to express that the President continues to trust the Budget Secretary and the confidence reposed on him remains unimpaired,” he said.
The spokesman also pointed out that if Congress “feels that there was irregularity in the allocation of the budget, it can always correct it apart from having the option of recommending the filing of charges against those they deem are responsible for the transgressions should the same amount to a crime.”
“In the same manner that the President doesn’t tell Congress who it will choose as its officers and how to go about it, we wish that its members return the same courtesy,” Mr. Panelo said further.
Meanwhile, Senator Loren B. Legarda, said in a statement: “As Chair of the Committee on Finance, I have been working with him not only on the annual national budget but also on proposed measures to reform the budget system and in all those times he has proven that he is a no-nonsense man and an honest public servant.”
“I firmly believe in Secretary Diokno’s integrity and in his capability to carry out reforms and introduce programs that would ensure equitable, inclusive, resilient and sustainable growth for our country. He has my full support,” she added.“There is no insertion in the budget. That term is a misnomer. Changes during budget preparation are ‘adjustments’,” Secretary Diokno said.
Albay Rep. Edcel C. Lagman, for his part, said that he and the rest of the “Magnificent 7” minority group abstained from the call to remove Mr. Diokno from his post, yet he believes that the secretary did not act alone in the controversies surrounding the 2019 national budget.
“As far as we are concerned, we are abstaining from the initiative because we will leave it to the President as he has the power to appoint and remove Cabinet members,” said Mr. Lagman in a press conference on Thursday, Dec. 13. — with Vince Angelo C. Ferreras

Duterte to skip Catholic mass for Balangiga bells

PRESIDENT Rodrigo R. Duterte on Thursday said he will not attend the thanksgiving mass for the historic bells that are returning home to the Catholic church in Balangiga, Eastern Samar on Saturday.
The President, however, is scheduled to attend the turnover ceremony of the Balangiga bells to the local officials, according to Presidential Spokesperson Salvador S. Panelo.
In his remarks at an event in Las Piñas, Mr. Duterte said he will be skipping the thanksgiving mass.
“There’s going to be a High Mass. I will not be there. I will just float along the coastal shores of Samar,” he said.
“It’s going to be like this. The American government will give it back to me. Then I will give it to the local executives. And the local executives will turn it over to its rightful owner, the people of Balangiga and ‘yung pari doon (the priest there). Kanila ‘yun (It is theirs). So hanggang dito lang ako (That’s where it stops for me). I do not want to hear the mass. I have heard all the masses in the world,” said the President, who was brought up a Catholic but has been lashing at the church and criticizing its clergy.
He also noted that the return of the bells “were upon of the demand of the Filipino people.”
“The credit of the return of the Balangiga does not belong to any worker or officials of government,” he said.
The three bells were taken by American soldiers as a war booty during the Philippine-American War in 1901. — Arjay L. Balinbin

Gov’t vehicle procurement simplified

PRESIDENT RODRIGO R. Duterte has issued Administrative Order No. 14, streamlining the approval process for the procurement of government motor vehicles. In a phone message to BusinessWorld on Thursday afternoon, Dec. 13, Budget Undersecretary Laura B. Pascua said the AO stemmed from “the proposal by PS (Procurement Service) and GPPB (Government Procurement Policy Board),” which was also “presented to the Cabinet.” She added, “The Proposal is to consider motor vehicles as part of common supplies so that procurement and approval process are simplified.” Signed on Dec. 10, the AO, which the Palace released to reporters on Thursday, also directs the adoption of a centralized system on the procurement of government motor vehicles. — Arjay L. Balinbin

PSA warns against payment collections for national ID

THE PhilID, the national identification card that will be rolled out soon by the government, would be free of charge for the initial issuance, the Philippine Statistics Authority (PSA) reminded the public. The PSA issued the notice on Dec. 12 as it warned that “entities or persons collecting fees and representing themselves as authorized registration centers are not in any way connected to the Agency.” The PSA is the primary implementing agency for Republic Act No. 11055, the Philippine Identification System Act (PhilSys Act). The notice signed by Undersecretary Lisa Grace S. Bersales also said that the PSA “has not yet started the registration of applicants for the PhilID.” It added, “Relevant announcements will soon be made.” For queries, contact 0917-312-8368 or philsys-pmo@psa.gov.ph.

69 Chinese, Korean illegal workers nabbed

THE BUREAU of Immigration (BI) and Clark Development Corp. arrested 45 Chinese and 24 Koreans last Dec. 10 for working in the country without proper visas. The 69 foreigners were arrested at the Dongwang Clark Corp. and Clark Sunvalley Country Club where they work. BI Commissioner Jaime H. Morente, in a statement yesterday, said the bureau and the CDC initially invited 93 foreigners for questioning and verification of travel documents following reports that there were some who work in construction sites with just tourist visas. The 69 were charged for violation of the Philippine Immigration Act while 24 Koreans were released after presenting valid work permits. “This is a call to our kababayans to remain vigilant. Report all illegal activities of foreign nationals to the Bureau of Immigration for appropriate action,” Mr. Morente said. Those arrested are now awaiting deportation proceedings. — Vann Marlo M. Villegas

San Fernando celebrates 110 years of lantern-making

THE ANNUAL Giant Lantern Festival in San Fernando City opens on Saturday, Dec. 15, with this year’s lantern competition entries to be unveiled at the Robinsons Starmills mall. There will be 11 barangays competing this year, according to the City Information Office. Mayor Edwin D. Santiago noted that the city is celebrating the 110th anniversary of lantern-making as an industry, a testament to “unending efforts in the preservation of culture.” He said, “Mahigit isang siglo na ang industriya ng paggawa ng gahiganteng parol sa San Fernando, isa lamang itong patunay na noon pa man, dedikado na ang siyudad sa pagpapahalaga ng kultura nito (The giant lantern industry in San Fernando is more than a century old, just one proof that the city is dedicated to giving value to its culture).” The Giant Lantern Exhibition will be on until Jan. 2.

Dipolog-Dumaguete direct sea transport starts

SHIPPING FIRM Medallion Transport Inc. started direct services between Dipolog City in Zamboanga del Norte and Dumaguete City in Negros Oriental on Dec. 12. Using its M/V Lady of Rule roll on-roll off vessel, the daily trips depart Dipolog at 11 p.m. and Dumaguete at 5 a.m. Passenger options include economy (P450/person), business class (P550), and executive suite for two persons (P1,500). Dipolog City Mayor Darel Dexter T. Uy welcomed the new transport link as a contributor to economic growth. “We are truly making Dipolog as an important gateway city and we expect better movement of goods and people that will promote trade and enhanced income opportunities for the city and our people,” he said on a Facebook post on his page.

PDIC to bid out P70M worth of properties around Mindanao

RESIDENTIAL, commercial, and industrial lots in different parts of Mindanao are up for bidding by the Philippine Deposit Insurance Corporation (PDIC) on Jan. 9, 2019. In a statement, PDIC said the real estate properties are located in Agusan del Norte, Agusan del Sur, Bukidnon, Camiguin, Davao del Norte, Lanao del Norte, Leyte, Maguindanao, Misamis Oriental, North Cotabato, South Cotabato, Sarangani, Sultan Kudarat and Zamboanga del Sur. These were assets from 195 closed banks with a minimum total disposal price of P69.9 million. The bidding will be held at the Bangko Sentral ng Pilipinas-Davao Regional Office in Davao City. The complete list of properties and other details are posted online, www.pdic.gov.ph.

Lagman hits ‘quick’ decision on 3rd martial law extension

REPRESENTATIVE Edcel C. Lagman of the 1st District of Albay criticized the quick approval by Congress of President Rodrigo R. Duterte’s request to extend martial law in Mindanao for another year, lamenting that lawmakers were given a limited time to decide. “Martial law was also extended in a joint session in Congress, where the freedom of expression of senators and representatives was restricted to three minutes to interpellation and one minute to explain their respective votes,” said Mr. Lagman in a press conference on Thursday, Dec. 13. The two chambers of Congress, by a majority vote of its members in a joint session on Wednesday, approved the extension for the entire 2019. “While martial law was extended in Mindanao for another year or 8,760 hours, the Congressional grant of the President’s initiative for another extension of martial law was consummated in barely four hours, which is only 0.1% of the total extended period,” added Mr. Lagman as he warned against the human rights implications of such a decision. “The Congress, as a deliberating assembly, must allow the free reign of interpellation and debate on issues like the 3rd extension of martial law in Mindanao, which may involve anew the military to violate civil and human rights,” he said. — Vince Angelo C. Ferreras

Nation at a Glance — (12/14/18)

News stories from across the nation. Visit www.bworldonline.com (section: The Nation) to read more national and regional news from the Philippines.

Peso strengthens ahead of BSP decision

THE PESO continued to strengthen against the dollar on Thursday as market participants awaited the policy decision of the local central bank.
The peso closed at P52.62 versus the greenback on Thursday, stronger than the P52.715-per-dollar finish logged on Wednesday.
The peso traded stronger the whole day, opening the session at P52.60 per dollar. It went to as high as P52.575, while its intraday trough was at P52.65 versus the US currency. Dollars traded slid to $697.65 million from $765.15 million on Wednesday.
A foreign exchange trader said the peso traded within a tight range yesterday ahead of the policy statement of the Bangko Sentral ng Pilipinas (BSP) late Thursday.
“The peso traded in a tight range ahead of the BSP announcement. Near the close, we saw agent banks lifting the offer, so it closed near the intraday [low],” the trader said in a phone interview.
The central bank kept its benchmark rates steady during its last policy meeting for the year, ending the streak of five consecutive hikes this year.
The BSP’s key overnight borrowing rate remains at 4.75%. Meanwhile, the overnight lending and deposit rates stood at 5.25% and 4.25%, respectively.
The Monetary Board noted that latest inflation forecasts show a lower path over the policy horizon, as the recent reading shows signs of tapering price pressures.
Inflation stood at 6% in November, slower than the nine-year peak of 6.7% recorded in October and September.
BSP Assistant Governor Francisco G. Dakila, Jr. said the central bank now expects monthly inflation to go back below 4% at the end of first quarter of 2019, well within the government’s 2-4% target band.
The central bank raised rates by 175 basis points since May.
“As rates were unchanged, it would somehow put a support on the dollar-peso, so we can see a continued weakness in peso,” the trader said, noting that the movement for today will “not be that much” given that the central bank is widely expected to keep their policy rates steady.
On the other hand, another trader said the local unit sustained its strength amid less safe-haven demand for the dollar due to “improving US-China trade negotiations and weak US inflation data.”
For today, the first trader expects the peso to trade between P52.55 and P52.70, while the other gave a P52.50-P52.70 range. — K.A.N. Vidal

PSEi extends gains on US-China trade war bets

LOCAL EQUITIES extended gains on Thursday on hopes that the United States and China will resolve their trade dispute.
The 30-member Philippine Stock Exchange index (PSEi) firmed up 0.46% or 34.68 points to finish at 7,522.92, closing on a positive note for the third straight session. The broader all-shares index likewise added 0.28% or 12.78 points to 4,507.33.
“The continued optimism that the US and China may be able to find a way to resolve their trade war has had a positive effect on global equities markets including here in the PSE,” Eagle Equities, Inc. Research Head Christopher John Mangun said in an e-mail.
“The PSEi sustained its positive momentum from yesterday and if it can keep on its path, it may end above 7,500 for the week.”
The local market has been mirroring the performance of global indices in previous weeks, closely watching the developments of the US-China trade war.
The Dow Jones Industrial Average advanced 0.64% or 157.03 points to 24,527.27. The S&P 500 index rose 0.54% or 14.29 points to 2,651.07, while the Nasdaq Composite index also rallied 0.95% or 66.48 points to 7,098.31.
Meanwhile, Regina Capital Development Corp. Managing Director Luis A. Limlingan noted that investors were also awaiting the result of the Bangko Sentral ng Pilipinas’ (BSP) last policy meeting for the year.
“Investors are also betting on the outcome of the BSP wherein more are inclined that our central bank will apply the brakes this time with respect to interest rates,” Mr. Limlingan said in a mobile message.
The central bank kept its benchmark rates steady during its last policy meeting for the year, ending the streak of five consecutive hikes this year.
The BSP’s key overnight borrowing rate remains at 4.75%. Meanwhile, the overnight lending and deposit rates stood at 5.25% and 4.25%, respectively.
“Our view is that headline inflation has peaked and should continue to decelerate due to favorable base effects, legislated measures that aim to resolve food supply shortage issues, the suspension of fuel tax hikes, and lower global energy prices,” Mr. Limlingan explained.
Four sectoral indices climbed, led by financials which jumped 1.27% or 22.52 points to 1,788.11. Services followed with a 1.06% uptick or 14.87 points to 1,412.36. Holding firms rose 0.53% or 39.84 points to 7,444.88, while industrials went up 0.34% or 37.15 points to 10,876.94.
In contrast, the mining and oil counter lost 0.86% or 72.58 points to 8,280.58, while property shed 0.38% or 13.94 points to 3,648.62.
Turnover was halved to P6.09 billion from the previous session’s P11.90 billion, with 2.70 billion issues switching hands
Advancers outnumbered decliners, 109 to 80, while 46 names were unchanged.
Foreign investors turned buyers, booking net purchases of P324.84 million against Wednesday’s P984.70 million worth of net sales. — Arra B. Francia

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