Facebook Instagram Linkedin X Youtube
Home Blog Page 12138

Chilean band brings jazzy touch to classic game soundtracks


SANTIAGO, Chile — A Chilean band is bringing smooth saxophone melodies and spine-tingling bass lines to classic video game soundtracks in its quest to attract more youngsters to jazz.
The four friends in their twenties who make up the group Jazztick started out playing on the streets of Santiago, hoping to popularize the genre in Chilean culture.
Now full-time musicians, the question they’re most often asked is what does America’s original art form have to do with the geeky world of gaming?
“The worlds of jazz and video games aren’t so far apart,” explains pianist Max Gonzalez, who counts US greats Bill Evans and Chick Corea among his heroes.
“They are both tools that allow for a lot of improvisation. And on the piano, the notes and the melody belong to me, I am master of my character and my actions.”
The sounds of the sax, electric bass, drums and piano mingle with the pings and crashes of 1980s classics such as Super Mario Bros, The Legend of Zelda, Sonic the Hedgehog as well as some more recent hits like Metal Gear Solid.
It is a musical journey through time in which listeners finds themselves immersed in a melange of jazz-fusion peppered with funk and Latin influences.
“Video games are huge in Chile, and we grew up on these sounds. Through our music, we take our audience back to their childhood,” says Jazztick’s bassist Sebastian Vera, who founded the band in 2014.
“With this mix, we attract adults to music from video games and we bring young people towards jazz music.”
“Some passers-by stopped because they liked the sound of our swing. But most got into our sound because they recognized the melodies of famous games,” says drummer Victor Becerra, all of 20 years old.
The band is among a growing number of groups from around the world specializing in interpreting the soundtracks of successful game sagas.
Originally added to immerse gamers in the story and help them focus, classic gaming soundtracks have been re-invented with covers ranging from symphonic orchestras to heavy metal to electronic remixes with thumping beats. — AFP

Five barriers that complicate labor productivity

Despite overtime work, many of our workers miss their production quotas and deadlines to the absolute disappointment of management and our clients. What’s wrong with us? And how would you propose to solve our problem? — Don’t Know.
A priest received a donation of a male parrot with an acquired vocabulary of bad words from a dying owner who gave it to the parish church known to adopt orphaned animals. The result was embarrassing for the parishioners, until a spinster suggested that she take care of the bad-mouthed parrot by making it live with her well-behaved female parrot at home.
The old woman’s female parrot said nothing every hour except “let us pray” followed by The Lord’s Prayer. As soon as the two birds were put together, the cursing parrot took one look at the lady parrot and chirped:
“Hi, baby! How about a little kiss?” The female parrot responded gleefully: “Thank you Lord! My prayers have been answered!”
Sometimes, it takes “a little kiss” and a change of environment to make everything more positive. Of course, don’t forget to say a little prayer before doing anything. More often than not, managers busy themselves with meeting production quotas and deadlines and they forget to have a little celebration to change the mood of the overworked employees.
If not done, this results in complicated situations with the organization spending unnecessarily to pay the overtime premium even when workers do little to meet quotas and deadlines.
Coping with this type of pressure is not easy, but not necessarily hopeless. Achieving labor productivity can be simpled if you take the necessary steps to avoid the most common pitfalls, many of which are invisible to the naked eye. These include the following:
One, when the workers are not empowered to solve problems. The word “empowerment” has been around for some time, and yet many people managers don’t want to do it for fear of losing control. But that’s false thinking. Problem-solving and decision-making are not a monopoly of management. They should be delegated to the workers who are nearer to the issues. Otherwise, managers would have nothing to do except to fight fires.
Two, when the workers are not equipped with problem-solving tools. Empowering the workers requires that you provide them with proper training and the tools to identify and solve operational bottlenecks that are causing backlogs. There are many types of tools that the workers must be familiar with, such as fishbone diagrams, histograms, and the five whys, among others. These tools are easy to use and practical for solving production issues.
Three, when the workers are not informed of the real situation. Everyone must bring factual data. Clearly-defined timelines are not enough. They must be explained fully alongside with the regular sharing of information on percentage of defects, turnover rate, overtime costs, absenteeism and other related expenses. Correlate these with job security and the workers will be able to appreciate the value of those data.
Four, when the workers are forced to hit unrealistic targets. At times, this is acceptable, but not if it’s done on a regular basis. It’s also a reflection of poor planning. That’s why every manager must be on top of the situation to anticipate problems. Seeking daily feedback from the workers will allow you to do just that. This means that management must do daily “gemba” (shop floor walking) to see for themselves the real situation.
Last, when managers appear strict and unfriendly. Even if it’s unintentional, some managers are accustomed to showing negative body language. The solution, of course, is to stay positive, energetic, and full of confidence. It’s also important for all managers to acknowledge their mistakes promptly and be explicit about it by correcting their errors, including how they treat the workers. This can-do attitude will enhance their credibility.
Don’t let these issues overwhelm your management team. As long as you’re doing your best in a smart manner and ready to change for the better, then everything would be all right.
Making better use of the workers’ ideas can go a long way. In essence, this is co-ownership. If the workers know their ideas are welcome, they will respond completely. If they’re being appreciated by management, chances are, they will reciprocate positively. Of even greater importance is your management team’s ability to create a fun and enjoyable workplace that allows people to exchange “little kisses” with one another.
Don’t take this literally. This means creating excuses to celebrate small wins so people are energized to come up with small wins that contribute to big milestones.
ELBONOMICS: Managers must do the hard part, so the workers can do the easy part.
 
Send feedback or questions to elbonomics@gmail.com or via https://reyelbo.consulting

Greening money

THE business of making money ‘green’ is beginning to flourish. One just needs to look at recent numbers to see the growing business opportunity.
In the private sector alone, an estimated $600 million in investments is needed to achieve Philippine energy efficiency targets for 2020 and $34 billion to meet the country’s renewable energy installation targets for 2030, according to the Department of Energy. In construction, the International Finance Corporation (IFC) estimated that $2 billion worth of investments are needed to set up green commercial buildings and $12 billion for residential developments. And then there’s the rich array of sustainable energy projects to support, including low-carbon energy such as smart grids, e-vehicles and hybrid transport, green chemicals and manufacturing products, wastewater treatment, and recycling and waste treatment services.
With such gargantuan green projects, it’s no wonder banks and financial institutions are jumping into the bandwagon to make green loans much more accessible to a wider range of entities, including small and medium enterprises.
Traditionally, investors look at financial metrics of companies alone. Nowadays, they are also taking into consideration a company’s environmental, social and governance (ESG) issues, not just financial returns. Any form of financial service that integrates ESG into investment or business decisions is termed “sustainable finance.”
At the Green Financing Forum organized by the Financial Executives Institute of the Philippines (FINEX) on June 20, 2018, sustainable finance champions hogged the limelight. Herry Cho, ING Bank’s head of sustainable finance in Asia Pacific, cited in her presentation that a sustainable strategy is no longer just “nice to have,” but now a need that demands urgent, concerted, and global-scale efforts to address climate change. Green bonds, which gained traction in 2016 in emerging markets, especially offer a glowing promise. While still proportionately small, the market for green bonds is growing fast and continues to diversify, said Ms. Cho.
At the forum, Securities and Exchange Commission Commissioner Ephyro Luis Amatong encouraged more local issuers to tap into the $36-trillion market, with investors in Asia, Europe, and North America now mandating green bonds.
The International Finance Corp., the private sector arm of the World Bank, recently issued the first internationally rated AAA peso-denominated green bonds equivalent to about $90 million. This was meant to finance the capital expenditure of Energy Development Corp. in a bid to improve the generation output of the country’s largest geothermal energy producer.
Green securitization is yet another high-impact tool, bundling green loans into securities to open the doors of institutional investors to small-scale green projects otherwise too small to access such capital.
The commitment to green financing, however, doesn’t end in bonds, credit lines, and securitization. Firms providing advisory services, technical assistance and transfer knowledge in climate business and industry-specific green investment principles could also benefit from the growing trend in sustainable finance.
By 2030, green financing is seen to emerge as a $44.5-trillion pie, with one-third of banks forecasted to be lending for climate change measures. In championing green and therefore responsible finance, banks and financial institutions assert their frontline position in helping the world become environmentally, socially, and financially resilient.
For humankind to survive what scientists warned as the Earth’s sixth mass extinction, everyone must think green and put their green money where their mouth is.
 
Ma. Victoria C. Españo is the President of the Financial Executives’ Institute of the Philippines (FINEX) and the Chairperson and CEO of Punongbayan & Araullo Grant Thornton, one of the leading Audit, Tax Advisory and Outsourcing firms in the Philippines.
marivic.espano@ph.gt.com

What to see this week

7 films to see on the week of August 10-August 16, 2018

The Meg


THE CREW of a deep-sea submersible is trapped under the deepest trench in the Pacific after an attack by a massive creature. Rescue diver Jonas Taylor is recruited to save the crew from the threat of the Megalodon, a historic 75-foot-long shark. The film — based on Steve Alten’s novel Meg: A Novel of Deep Terror — is directed by Jon Turteltaub, it stars Jason Statham, Li Bingbing, Winston Chao, Rainn Wilson, Ruby Rose, and Page Kennedy. “The movie is the kind of brainless summer blockbuster you have been hoping for. The action sequences are over-the-top but glorious in its execution, and the violence is wild, silly and most importantly, fun. Although we were hoping to see more blood, we also understand the need to reach out to a larger crowd to make more moolah,” writes GeeCulture’s John Li.
MTRCB Rating: PG

Down a Dark Hall


HOT HEADED Kit is sent to boarding school by her mother. There Kit meets the headmistress and the other students. While exploring the campus, Kit and her classmates come across a old secret. Directed by Rodrigo Cortés, it stars AnnaSophia Robb, Isabelle Fhurman, Kirsty Mitchell, Victoria Moroles, and Rosie Day. Movie Nation’s Roger More writes, “Down a Dark Hall gets one huge thing right that’s a common failing of most horror — pathos. It makes you care and makes you feel, even though what you’re watching is just a clever mash-up of ghost story tropes, a ‘genre picture’ in every sense of the word.”
MTRCB Rating: R-13

The Little Mermaid


AN ENCHANTING creature — believed to be a real mermaid — is discovered by a young reporter and his niece. Directed by Blake Harris and Chris Bouchard, the film stars William Moseley, Poppy Drayton, Shirley MacLaine, Armando Gutierrez, Loreto Peralta, and Gina Gershon.
MTRCB Rating: PG

Kuntilanak (The Chanting)


WITH THE goal of winning a reality show contest, a group of kids explore an abandoned house in search for the kuntilanak, a ghost based on Malay mythology. The creature begins to haunt them when it emerges from an old mirror. This Indonesian film is directed by Rizal Mantovani, and stars Sandrinna Michelle, Aurélie Moeremans, Fero Walandouw, and Nena Rosier.
MTRCB Rating: R-13

The Wife


AN EXPLORATION of a 40-year-marriage as the husband is about to receive a Nobel Prize. Directed by Bjorn Runge, it starts Glenn Close and Jonathan Pryce. “[Glenn Close] is a marvel of twisty understatement here, delivering emotions that conceal as much as they reveal, and offering onion-like layers that invite repeat viewings in light of some of the film’s later revelations,” writes Variety’s Andrew Barker.
MTRCB Rating: R-13

Dito Lang Ako


NELIA WAITS for Delfin — whom she lost 40 years ago — outside a store in Timog, Quezon City every day, hoping that he would return. She refuses to forget their romance and recalls their story, which is set in Quezon City in the 1970s. Directed by Roderick P. Lindayag, it stars Michelle Vito, Jon Lucas, and Akihiro Blanco.
MTRCB Rating: G

Unfriended: The Dark Web


WHEN A young man finds a hidden cache of files in his new laptop, he and his friends find themselves entering the dark web — but they are not aware that they are being watched. Written and directed by Stephen Susco, the film stars Colin Woodell, Andrew Lees, Betty Gabriel, and Rebecca Rittenhouse. Amy Nicholson of Variety writes: “Dark Web skates by on saturated nastiness, one terrific kill, and the audience’s engagement in seeing if the filmmakers can pull off the stunt. Barely, but it’s fun to watch them try.”
MTRCB Rating: R-16

How PSEi member stocks performed — August 9, 2018

Here’s a quick glance at how PSEi stocks fared on Thursday, August 9, 2018.

 
Philippine Stock Exchange’s most active stocks by volume turnover — August 9, 2018

Present alternatives to federalism — Palace to economic managers

MALACAÑANG ON Thursday urged President Rodrigo R. Duterte’s economic managers who question the proposed shift to federalism to present their alternatives.
Also on Thursday, a member of the Consultative Committee (ConCom) to Review the 1987 Constitution suggested that Mr. Duterte fire Finance Secretary Carlos G. Dominguez III and Socioeconomic Planning Secretary Ernesto M. Pernia if he still favors federalism, a leading theme of his presidential campaign in 2016.
“The President will have to task them,” Presidential Spokesperson Harry L. Roque, Jr. said in a press briefing when asked if the economic managers will be sought for an alternative proposal.
“So, it is incumbent upon the alter egos to find ways and means now to make that happen. What they were objecting to is because they have unanswered questions on the existing proposals made by the Consultative Committee, so let’s find answers. But if there will be no answers, it is incumbent upon all the alter egos of the President to make what he wants to happen a reality,” Mr. Roque said.
Testifying at the Senate on Wednesday, Finance Secretary Carlos G. Dominguez III and Socioeconomic Planning Secretary Ernesto M. Pernia became candid in expressing their concerns about the possible cost of a shift toward federalism.
Mr. Roque said there are “differences of opinion” on federalism among the President’s Cabinet members.
“My point of view is that there doesn’t have to be a deficit because there shouldn’t be additional budget required for federalism. It’s a matter of working within a given budget and transferring funds from one pocket to another. We’re talking about devolving services to regional governments, and we’re talking about creating new bureaucracies under the regional governments; but we’re also talking about reducing the current national bureaucracy. So my view is, it does not have to result in a bloated budget which may result in a bigger deficit, which will result in high interest rates….” he said.
He also said, “Well, let’s just say that Secretary Dominguez, as you know, was one of (Mr. Duterte’s) closest supporters during the campaign. He knows that the President ran on a platform, among others, based on a charter change towards federalism. He supports federalism. Let’s fine-tune the means and ways of moving from a unicameral to a federal form of government.”
He noted as well that the Palace “respects” the views of the Mssrs. Pernia and Dominguez, but added he would “like to see if there are alternatives, because federalism remains a priority of the President and we need to address obviously even the financial aspects of the constitutional change towards federalism.”
For his part, ConCom member and dean of the San Beda Graduate School of Law Ranhilio Aquino said in a Facebook post: “Let’s stop fooling ourselves. If Dominguez and Pernia, in their official capacities, speak loudly against Federalism, then the question should be asked in all earnestness whether the President is for it or not.”
He added: “The way things are going, Dominguez and Pernia may merely be paving the way for a subsequent Presidential announcement that ‘I have been advised by my economists that federalism is as bad for our national health as smoking is to a person.’”
“Freedom of expression does not apply to Cabinet officials in respect to policy.”
“Enough of double-talk. If the President is now cool to federalism let him give the order to abandon the federalist ship. Then all of us fools who wrote the draft and defended it with all our might will know that we have been taken for a ride — for a very expensive ride — but we shall at least have the chance to abandon ship before it is scuttled!”
And for his part, Senator Francis N. Pangilinan said it is possible that the Senate committee on constitutional amendments and revision of codes, which he heads, will advise against charter change.
“Posible ‘yun, lalo’t napakalaki ng statement at napakabigat nung nabanggit nung ating mga economic managers kahapon,” the opposition senator said. (That’s possible, especially because of the big words by our economic managers Thursday, August 9, [at the Senate].)
“Hindi na kami sa oposisyon ‘yan. Sila na ang gumagamit nung terminong ‘bangungot,’ ‘impiyerno,’ ‘kalituhan,’ eh pagka ganyan ang bitiw na salita, eh ba’t natin mamadaliin ito?” Mr. Pangilinan added. (That’s no longer coming from us in the opposition. They were using words like “nightmare,” “hell,” “confusion.” If they’re dropping words like that, why should we rush this?)
Nevertheless, Mr. Pangilinan said “We’re looking at maybe October” for the committee to submit its report on charter change.
“Well, actually, mayroong working draft para hindi naman tayo naaantala pero hindi pa nafa-finalize ‘yan,” he also said. (There’s a working draft so we won’t be delayed but this has not yet been finalized.)

PHL e-governance at 71st in report

By Janina C. Lim, Reporter
THE COUNTRY slid four notches in the United Nations’ 2018 E-Governance Development Index survey.
The UN’s recent report, themed “gearing e-government to support transformation towards sustainable and resilient societies,” showed the country slipping from 75th to 71st place in 2016.
Overall, however, the Philippines posted an increase with a higher eGDI score of 0.6512 from 0.5766.
The eGDI is the UN e-Gov Survey component that measures the readiness and capacity of national institutions to use information and communications technologies to deliver public services.
The index computes eGDI based on three subsectors: the Online Service Index, Human Capital Index (HCI) and Telecommunication Infrastructure Index (TII).
The Philippines posted higher scores in OSI (up 0.8819 from 0.6667), which measures the use of ICTs by government in delivering public services at the national level, and in HCI (up 0.7171 from 0.6839), which measures the development of human capital.
However, the country’s score declined in the TII, which determines the status of development of telecom infrastructure. It fell 0.3547 from 0.3791 in 2016.
In the e-participation index (EPI), the Philippines leaped 48 notches — to 19th from the 67th ranking it posted two years ago.
EPI focuses on the use of online services to facilitate provision of information by governments to citizens, interaction with stakeholders and engagement in decision-making processes.
The biennial e-Government Survey is the only global report that assesses the e-government development status of all 193 member-states of the UN.
“It serves as a development tool for countries to learn from each other, identify areas of strength and challenges in e-government and shape their policies and strategies in this area,” the report added.
The UN e-Government Index is one of the competitiveness surveys monitored by the Department of Trade and Industry’s (DTI) Competitiveness Bureau.
For his part, Trade Secretary Ramon M. Lopez said in a statement on Thursday: “We laud our country’s upgrade in the UN e-Participation Index, which measures an economy’s effort to establish online tools on government portals that promote public participation through public consultation and decision-making process.”
He added: “We expect an upward trajectory as we further pursue efforts to promote GovTech (Government Technology) in the Philippines with the passage of the Ease of Doing Business and Efficient Government Service Delivery Act.”
Under Republic Act 11032 or the Ease of Doing Business Act of 2018, a Central Business Portal and Philippine Business Databank will be developed and maintained by the Department of Information and Communications Technology.

PSEi slips as market turns to earnings after GDP

THE MAIN INDEX dropped only slightly on Thursday as traders continued to pin their hopes on positive corporate earnings with economic growth in the second quarter slowing to a three-year low.
The bellwether Philippine Stock Exchange index (PSEi)dropped 0.39% or 30.75 points to close at 7,820.71. Meanwhile, the broader all-shares index climbed 0.15% or 7.21 points to 4,715.82.
The Philippine economy grew 6% in the second quarter, slower than the downward-revised 6.6% GDP growth in the first quarter as well as the 6.7% pace logged in the same period last year.
This was also slower than the 6.8% median estimate in a BusinessWorld poll conducted last week.
Jervin S. de Celis, equity trader at Timson Securities, Inc., said the index’s muted decline was “surprising.”
“The PSEi may not have overreacted to the slower 2Q GDP (gross domestic product) since some of the biggest blue-chip stocks have reported positive earnings. So these companies are weathering the slowing GDP figures and rising inflation rate,” Mr. De Celis said in a mobile message. “Maybe that also provided a cushion for the market to not fall deep…”
Luis A. Limlingan, managing director at Regina Capital Development Corp., noted that despite the disappointing GDP data, “volume was strong enough to limit selling pressure to 60 to 70 points lower throughout, until eventually paring losses down to just 30.75 points.”
Thursday’s close also reflected investors’ anticipation of the policy meeting of the Bangko Sentral ng Pilipinas (BSP), which could further affect Friday’s trading.
After the market’s close, the BSP announced that it decided to hike interest rates by 50 basis points (bp) effective Friday, August 10.
The decision was within market expectations and marks the third time the BSP raised policy rates this year after two 25-bp increases each in May and June to tame inflation.
Most counters ended in negative territory Thursday, August 9. Holding firms shed 0.43% or 33.97 points to 7,742.15; financials fell 0.37% or 7.03 points to 1,855.65; mining and oil dropped 0.37% or 38.44 points to 10,251.89; and services slid 0.13% or 2.05 points to 1,538.46.
Meanwhile, industrials jumped 0.31% or 34.79 points to 11,159.88 and property rose 0.08% or 3.15 points to 3,891.74.
Value turnover fell to P6.33 billion Thursday, August 9, from Wednesday’s P8.64 billion as 1.13 billion issues switched hands.
Foreigners extended their buying for a second consecutive day, even as net purchases slid slightly to P322.97 million on Thursday from the P325.87 million on Wednesday.
Losers outnumbered advancers, 121 to 90, while 34 issues were unchanged. — J.C. Lim

Peso slips on slower GDP growth

THE PESO slipped against the dollar on Thursday following data showing slower-than-expected Philippine economic growth in the second quarter and ahead of the central bank’s move to raise interest rates anew.
The local unit ended Thursday’s session at P53.09 versus the greenback, two centavos weaker than the P53.07-per-dollar finish on Wednesday.
The peso opened Thursday’s session slightly stronger at P53.055 against the dollar. It logged an intraday low of P53.185, while its best showing for the day stood at P53.05 versus the greenback.
Dollars traded slid to $682.1 million from the $721.15 million that exchanged hands the previous day.
A foreign exchange trader said the peso traded “wildly” following the release of the second-quarter gross domestic product (GDP) growth data.
“Although Thursday’s close was near the previous close, the dollar-peso traded wildly intraday after the GDP growth figure missed market expectations,” the trader said in a phone interview.
The Philippine economy grew 6% in the second quarter, slower than the downward-revised 6.6% GDP growth in the first quarter as well as the 6.7% pace logged in the same period last year. This was also slower than the 6.8% median estimate in a BusinessWorld poll conducted last week.
This brought the first-half print to 6.3%, below the government’s 7-8% target band for 2018.
Socioeconomic Planning Secretary Ernesto M. Pernia partly attributed the slower GDP growth to the “prudent and judicious policy decisions to promote sustainable development” such as the closure of the Boracay island as well as regulation of mining activities.
“The slower-than-expected [second-quarter] GDP print has rendered the peso weaker as the actual totally missed market and government forecasts,” UnionBank of the Philippines chief economist Ruben Carlo O. Asuncion said in a text message.
The trader added that the peso-dollar pair might consolidate on Friday following the decision of the Bangko Sentral ng Pilipinas (BSP) to tighten policy rates anew.
At the market’s close, the central bank announced that it decided to raise its interest rates by 50 basis points (bp) at Thursday’s review to temper inflation expectations, stronger than the 25-bp hikes announced in May and June.
“Upside risks also continue to dominate the inflation outlook, as the sustained increase in core inflation suggests broadening price pressures amid resilient aggregate demand conditions,” the BSP’s Monetary Board said.
BSP’s benchmark rates now stand within a 3.5-4.5% range.
“The movement of the peso might be tricky [on Friday] because some players might react to the 50-basis-point hike, although it was factored in already the past few trading sessions,” the trader said.
Meanwhile, Mr. Asuncion said the BSP’s policy tightening will be “positive” for the peso.
For Friday, Mr. Asuncion sees the peso moving between P52.80 and P53 versus the dollar, while the trader gave a P53-P53.20 range. — Karl Angelo N. Vidal

Funds released for pension arrears for AFP, PNP retirees

By Elijah Joseph C. Tubayan, Reporter
THE Department of Budget and Management (DBM) in a statement Thursday, Aug. 9, said it has released the pension differential arrearages for retirees of the Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP).
DBM said it has released P532.54 million for 4,392 AFP retirees, covering the period July 2008 to February 2013.
The agency also released P267.82 million for 13,157 PNP retirees covering the period July to December 2009.
The releases are chargeable against the pension and gratuity fund of the 2018 budget.
“Notably, part of the computed pension differential claims refer to the 36-month lump sum provided to retirees once they retire at age 56, or completed at least 20 years of military service, covering the period 2008 to 2013,” the DBM said in its statement, adding:
“This is pursuant to Section 17 of Presidential Decree (PD) No. 1638 dated September 10, 1979, which states that at the option of the retiree, he shall be entitled in advance and in lump sum a retirement gratuity equivalent to the first three years and thereafter receive his monthly pension.”
The government is seeking to reform the pension of uniformed personnel and make them contributory, as the pension payouts are starting to take a toll on the country’s fiscal position.
The government has to pay P33 billion to AFP and PNP retirees by 2019. This is expected to double in eight years, as pensions are indexed to any increases in the salaries of those in active service.
President Rodrigo R. Duterte signed in January a resolution to increase, even double, the salaries of uniformed personnel.
Budget Secretary Benjamin E. Diokno has said the government is crafting a pension scheme and will submit a proposal to Congress before September.
This will involve the creation of a new separate pension fund to be managed by the Government Service Insurance System, where new recruits will start to contribute to the pension fund, while existing pensioners will continue to enjoy the current scheme.

Analysts: LP still stands a chance in Duterte’s milieu

Dr. Perlita M. Frago-Marasigan — HTTP://POLISCI.UPD.EDU.PH/

ANALYSTS were sought for comment to assess the opposition Liberal Party’s (LP) standing, amid the political milieu currently dominated by President Rodrigo R. Duterte, and ahead of the crossroads that is next year’s midterm elections.
Dr. Perlita M. Frago-Marasigan, UP political science assistant professor, said she no longer sees the party as the “strong contender” it used to be.
“Aside from the fact that most mainstream political parties in the Philippines are generally weak and are said to be mere alliances of convenience, the LP also has to come up with a better slogan and more concrete and better policy actions and decisions vis-a-vis the PDP-Laban,” Ms. Marasigan told BusinessWorld in a phone message, Wednesday.
She, however, noted the LP still stands a chance if it brings more focus on ongoing issues rather than personalities.
“More pragmatically, if the LP will offer alternative programs within this administration’s governance framework. But of course, a lot can happen between now and the 2019 mid-term elections,” Ms. Marasigan said.
Also sought for comment, University of the Philippines (UP) law professor Antonio G. La Viña told BusinessWorld in a phone interview Saturday: “They’ll have to wait for a change of government before lumipat na naman sa kanila (before [their former allies] transfer back to them). Hopefully, they use their time and power to strengthen the party.”
He added: “LP is an old party, but even if they’re few…they’ll have influence. But no party has influence unless it’s the party of the president.”
Also sought for comment, Rep. Romero S. Quimbo said the LP’s strength is not determined by the numbers, but by its ideology.
“LP’s strength has never been about numbers. LP is constantly rebuilding and re-tweaking its methods; But it can never compromise on its principles and platform,” Mr. Quimbo told BusinessWorld in a phone message Wednesday.
He said even during the administration of President Benigno S.C. Aquino III, the LP “remained conscious not to increase membership merely for the sake of numbers.”
The party was formed in the immediate postwar era and was catapulted to power by the election of its leader, Manuel A. Roxas. The party has been in and out of the public favor in the course of its history, but also became associated with such causes as the struggle against the Marcos dictatorship.
WOMEN LEADERS
In the current milieu, the party has been overshadowed in recent senatorial polls by Mr. Duterte’s allies, and also by his daughter, Davao City Mayor Sara Duterte-Carpio. Analysts see her as a “kingmaker” in the light of last month’s power struggle in the House of Representatives, which led to the political revival of its new Speaker, former Philippine president Gloria Macapagal-Arroyo.
“Mayor Duterte’s alleged political maneuvers behind the ‘return to power’ of former president GMA demonstrates how (Mayor) Duterte can be a cunning political force to contend with,” Ms. Marasigan said.
“First daughters, after all, can be strong political forces provided that they have the skills. And we have seen such skills in Mayor Sara Duterte,” she added.
On the other hand, Vice-President and LP’s chairperson Maria Leonor G. Robredo’s “gentle manners and soft features belie the social activist inside,” which Ms. Marasigan notes “when used skillfully, can prove (to be) fatal to any powerful man.”
Ms. Robredo has maintained a considerable position in recent surveys, particularly among what is called the Class E. The political outsider, going by updates her office has been sending the media, has been going around the country for outreach activities under her Angat Buhay program.
“While VP Robredo’s Angat Buhay vows to make a difference in the lives of people at the margins through doleouts, this strategy appears mainstream,” Ms. Marasigan said. “As expected, Mayor Duterte’s Tapang at Malasakit Alliance is trying to reignite the flame that propelled the president into power.”
“The said alliance promises to stay the course by continuing the campaign core values of her father’s campaign. This, she said, can only happen if the communities will accentuate the positive (“volunteerism”) and let go of the negative (“politicking”),” she added. — Charmaine A. Tadalan

House rejects cash-based funding, stalling 2019 budget

THE House of Representatives is planning to recall the budget reform bill for review amid fears that a shift to a cash-based budgeting system will reduce government funding overall, appropriations committee chair and Davao City Rep. Karlo Alexei B. Nograles said.
The recall also introduces an element of uncertainty to the ongoing deliberations for the 2019 budget, which will be the first to adopt a cash-based system.
“After the caucus yesterday, the members of the House of Representatives agreed to sign a resolution seeking the recall of the budget reform bill we approved,” Mr. Nograles told reporters.
He added that support for the resolution crossed party lines, with the majority, minority and independent blocs of the chamber signing off on the resolution.
The budget reform bill introduces a shift in budgeting from a two-year obligation-based budget to an annual cash-based budget. It requires appropriations to be utilized within the year.
The House version of the bill passed on third and final reading in March. The Senate version was read to the plenary in March by Senator Loren B. Legarda, who chairs the Senate committee on finance. It was identified as a priority bill by the Legislative Executive Development Advisory Council (LEDAC).
The 2019 national budget was set at P3.757 trillion, slightly lower than the P3.767 trillion programmed for this year.
Mr. Nograles said the proposal to withdraw the bill means the chamber also in effect opposes the cash-based 2019 proposed national budget.
He said the chamber had second thoughts about the cash-based budgeting system because the “use it or lose it” funding arrangements may end up reducing funding for government projects and agencies.
“Members of the House are concerned because even at the committee level until the plenary level, it was not explained well that this will be the implication of the bill. We understood that it was a good concept because the implementation and turnover of projects will be fast-tracked,” he said.
“It was never discussed and finalized that the effect of the budget reform bill would be slash, slash, slash, which is opposite to Build, Build, Build,” he added.
He added that a cash-based system for 2019 may be illegal due to the lack of an enabling law.
He said the House of Representatives may amend the general provisions of the National Expenditure Program and revert to an obligation-based system. Mr. Nograles plans to meet with the Department of Budget and Management to discuss funding levels for government agencies.
“We’ll throw the problem back to the DBM… So now, the House is saying we don’t want the cash-based budgeting. We want it obligation-based,” he said.
Ms. Legarda and Budget Secretary Benjamin E. Diokno had not responded to requests for comment at deadline time. — Camille Aguinaldo

1...12,13712,13812,139...14,238Page 12,138 of 14,238
ADVERTISEMENT
ADVERTISEMENT
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin X Youtube