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PRDP review outlines gains from farm-to-market roads

DAVAO CITY — A recent assessment of the World Bank (WB)-funded Philippine Rural Development Project (PRDP) indicates economic and social gains from the construction of farm-to-market roads, which make up the bulk of approved projects in Mindanao.

“The newly constructed farm-to-market roads also create a huge impact in the lives of its beneficiaries where average household income increases of 64% accompanied with the increase in school attendance and higher enrollment numbers, improved peace and order, faster response to medical emergencies, improved supplies available at small local stores, and increased crop areas,” Frauke Jungbluth, WB senior economist and task team leader for PRDP, was quoted in a statement issued by the PRDP-Mindanao office.

Ms. Jungbluth was part of the WB team that visited Mindanao in early February to assess the implementation of the program.

Out of Mindanao’s P6.14-billion share from the initial P27-billion PRDP funding, about P5.77 billion has been allocated for infrastructure development, mainly farm-to-market roads. Enterprise development projects covered the remaining P365.07 million.

The infrastructure component of the project, based on the assessment report, completed 148.4 kilometers of farm-to-market roads, helping farmers reduce their travel time by half, cost of logistics by a third and increase production by half.

These roads have benefitted a total of 77,000 households, PRDP said.

PRPD-Mindanao cited South Cotabato as an example for the success of the project, where cassava production increased by 31%, selling prices by 9%, and average income by 47%.

“This is the result of the strong partnership of the DA (Department of Agriculture), local government units (LGUs), our farmer-beneficiaries and the strong support of our private sector,” said Ricardo M. Oñate, Jr., PRDP-Mindanao director.

Mr. Oñate also said that there have been “positive effects of mainstreaming PRDP innovations to provincial planning process.”

The WB also noted that the PRDP has led the government implementing agency, the DA, to institutionalize reforms that have allowed LGUs to improve efficiency in project implementation.

Among the mechanisms institutionalized are geo-tagging, which allows the monitoring and management of projects in real time.— Carmelito Q. Francisco

Work safety bill hurdles Senate on third reading

THE SENATE on Monday approved on third and final reading a bill which would require stricter compliance by employers with Occupational Safety and Health Standards (OSHS).

Senate Bill No. 1317 or the “Act Strengthening Compliance with Occupational Safety and Health Standard,” passed the chamber with 20 votes. If enacted, it would amend the Labor Code to impose administrative penalties with fines of up to P100,000 “for every day of non-correction of violations” under the OSHS.

It also guaranteed the payment of workers’ wages and income during work stoppages or suspensions of operation “due to imminent danger as a result of the employer’s violation or fault.”

Senator Emmanuel Joel J. Villanueva, author and sponsor of the bill, said the proposed measure would increase productivity in workplaces by ensuring maximum safety and health at work.

“This is to reiterate that violation of OSH standards is deliberate disrespect for the well-being of our workers and a derogation of the right to humane conditions of work,” he said in a statement.

The bill was prompted by a series of workplace accidents last year, one of which was a fire at a mall in Davao City, killing 38 call center and mall workers.

Mr. Villanueva also cited a survey conducted by the Philippine Statistics Authority (PSA) in October 2015, which showed that occupational diseases in establishments employing 20 or more workers increased from 85,583 in 2011 to 171,787 in 2013.

The Department of Labor and Employment (DoLE) also reported 199 fatal workplace accidents and 232 non-fatal accidents from January 2014 to October 2016.

“Despite the fact that workplace accidents would always prompt tighter regulations, compliance by all industries continues to be an issue. Let us now make safety and health in the workplace work for all,” he said.

Implemented in 1978 by DoLE, the OSHS lays out safety and health rules in workplaces. — Camille A. Aguinaldo

Dealing with tax filing advisories

Since Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law took effect on Jan. 1, the implementation of certain provisions of the law has become an endless topic in various fora especially amongst taxpayers who are greatly affected. To ensure that the TRAIN will smoothly reach its destination, the Bureau of Internal Revenue (BIR) has been very proactive in addressing the concerns of bewildered taxpayers through public consultations, seminars, and various issuances. In fact, five revenue regulations (RRs) and a number of revenue memorandum circulars (RMCs) have been issued since January to implement certain provisions of this new law. This notwithstanding, taxpayers still find themselves in the dark in the absence of formal implementing rules and regulations, especially on income tax and value-added tax (VAT).

One of the recent and most common concerns raised by most taxpayers is the manner of carrying out the changes in filing of tax returns considering the new tax rates and modifications on the frequency of filing certain tax returns introduced under the TRAIN law. Although there were already issuances on the workaround procedures issued by the BIR, taxpayers still can’t help but feel anxious as the other provisions of the law remain unclear and lack sufficient guidance.

In response to this growing anticipation for additional and more detailed guidelines, the BIR began releasing tax advisories before the deadlines for filing and payment of the January tax returns. Surprisingly though, the contents of certain advisories are notably not consistent to some extent with those of the provisions under the TRAIN law. An example is the advisory issued on Jan. 31, which provides that the remittance of creditable and final taxes withheld shall be made on or before the 10th day following the month of withholding through BIR Form No. 0605 or payment form for the first two months of the quarter. The said advisory was further clarified in a subsequent issuance dated Feb. 6, stating that the remittance of taxes withheld on the 10th day following the month of withholding shall apply for manual or over-the-counter tax filers while, for those filing and paying via the electronic filing and payment system (EFPS), the due date for remittance is extended until the 15th day following the close of the taxable month. It can be noted, however, that one of the major changes introduced by the TRAIN law is the quarterly filing and remittance of creditable withholding taxes, which used to be filed and paid on a monthly basis. With the issuance of the said tax advisories, many taxpayers were confused since, in effect, the tax advisories only somewhat restored the old manner of remittance of creditable and final withholding taxes. The only difference is the use of a different form, i.e., payment form.

There are also concerns on whether those who do not have any withholding tax due payable for the month are still required to file a NIL monthly withholding tax return or the payment form. I believe they are not required, but since the advisories did not tackle the issue, then, taxpayers are at a loss on what should they do. In fact, a number of taxpayers are asking if it would be safe to assume that filing a NIL return is optional, since there were no explicit guidelines provided by the BIR regarding the matter. Further, since there are no penalty clauses included in the tax advisories, can the taxpayers remain placid that no open cases would result in case of non-filing of a NIL monthly withholding tax remittance return?

The BIR issued another tax advisory on Feb. 8 that tackles the guidelines on the quarterly filing and payment of percentage taxes pursuant to the TRAIN law. Previously, percentage tax returns are filed and paid on a monthly basis by certain taxpayers’ subject to percentage tax. However, it is worth noting that the advisory specifically mentioned only those taxpayers subject to percentage tax pursuant to Section 116 of the Tax Code (VAT-exempt taxpayers with annual revenues not exceeding P3,000,000) and those who will be subject thereto due to change of registration from VAT to Non-VAT. How about other percentage taxpayers, such as banks, who were also filing their percentage tax returns on a monthly basis prior to the TRAIN law? Should they also follow the guidelines set forth in the tax advisory, or should they stick to the old manner of filing their percentage tax returns?

Undoubtedly, the transition period to fully implement the changes under the TRAIN law have a long way to go. Hopefully, the present administration’s promise of a less complicated and more taxpayer-friendly administration of taxes will soon be felt by the taxpayers. I sincerely hope that the BIR will soon be able to release the appropriate revenue issuances that would comprehensively address all concerns and clarifications sought by the taxpayers.

Marvin K. Villarama is a senior of the Tax Advisory and Compliance of P&A Grant Thornton. P&A Grant Thornton is one of the leading audit, tax, advisory, and outsourcing services firms in the Philippines.

Maynilad sets aside P9 billion capex this year

Maynilad Water Services, Inc. is setting aside P9 billion this year as capital expenditure for its water and wastewater infrastructure projects, the west zone concessionaire said on Monday, Feb. 19.

“Our record investments have contributed significantly to the government’s job generation efforts while also improving water services for our over 9 million customers. We will continue on this track so we can sustain service level improvements in the West Zone,” said Ramoncito S. Fernandez, Maynilad president and chief executive officer.

Of the P9 billion, two-third or about P6.5 billion will be spent on the company’s infrastructure projects, Maynilad said.

 

Around P1.7 billion of the P9 billion budget this year will be used for wastewater management projects to increase sewerage coverage and maintain network reliability. It will be spent for the construction of a sewer network for the sewage treatment plants in Las Piñas and Muntinlupa, installation of new sewer service connections, and maintenance of the existing sewer network.

“The rest of the budget will go to the company’s customer service and information program, which covers the modernization of data management and information systems that will help to improve service delivery,” the company said. — Victor V. Saulon

Indonesia blocks more than 70,000 ‘negative,’ porn sites

JAKARTA — Indonesia has blocked more than 70,000 Web sites displaying “negative” content such as pornography or extremist ideology in the first month of using a new system to help purge the Internet of harmful material, the communications minister told Reuters.

The world’s most populous Muslim-majority country has stepped up efforts to control online content after a rise in hoax stories and hate speech, and amid controversial anti-pornography laws pushed by Islamic parties.

The so-called “crawling system” developed by a unit of state-run Telekomunikasi Indonesia Tbk (Telkom) was launched in January, using 44 servers to search Internet content and issue alerts when inappropriate material is found.

“We just put some sort of key words there, most of them are pornographic,” said Minister of Communication and Information Rudiantara, who uses one name.

“Because after 2017 we have blocked almost 800,000 sites and more than 90% (of these were) pornographic,” said the minister.

According to ministry data, the system, installed at a cost of around $15 million, helped block 72,407 pornography sites in January.

The ministry also acts to get content removed from social media platforms if there are complaints from the public.

Indonesia threatened last year to block Facebook, Inc’s WhatsApp Messenger, which is widely used in the country, unless obscene Graphics Interchange Format (GIF) images provided by third parties were removed.

Authorities also blocked access to some channels on encrypted messaging service Telegram last year, saying it had several forums that were “full of radical and terrorist propaganda.”

Google, which is owned by Alphabet, Inc, removed 73 LGBT-related apps from its Play Store last month, including the world’s largest gay dating app, Blued, on a request by Indonesia, a communications ministry official said.

The lesbian, gay, bisexual, and transgender community has faced a crackdown in Indonesia and the official said the contents of the apps contradicted cultural norms and contained pornographic content. Google declined to comment.

Mr. Rudiantara said the relationship with social media companies and tech giants was improving and put some disagreements down to differences over what, for example, constitutes pornography.

“To us probably it is pornographic, because we refer to the laws of pornography in Indonesia. But for other parts of the world, they say it is not pornography, it is art,” he said.

“But now it’s getting better, particularly when we consider content associated with radicalism, terrorism… On that content, I think they respond very fast,” he said.

The minister also said that nine tech companies, including Google and Facebook, had recently pledged to help authorities fight fake news and hate speech during upcoming elections in the world’s third-biggest democracy. — Reuters

South Korea’s Moon urges ‘stern’ response to new US tariffs

SEOUL — South Korean President Moon Jae-in called Monday for a “stern” response to new US tariffs on the South’s exports as concern grew over looming trade restrictions by Washington.

US President Donald J. Trump last week threatened retaliatory action against China and South Korea and vowed to revise or scrap a 2012 free trade deal with the South which he described as a “disaster.”

Mr. Trump also put his “America First” doctrine into action last month by imposing duties of 20% to 50% on large washing machines made in nations including the South, as well as tariffs on solar panels imported from China and elsewhere.

Seoul has said it would take the issue to the World Trade Organization while Beijing expressed “strong dissatisfaction” with the move, adopted to protect US manufacturers.

The trade frictions have strained ties at a time when Seoul and Washington are seeking to present a united front against North Korea’s nuclear threat.

Mr. Moon, at a meeting with aides, expressed concern over “intensifying protectionism” that may take a toll on the South’s export-reliant economy — also the world’s 11th largest.

“I am concerned that widening restrictions by the US on our exports, including steel, electronics, solar panels and washing machines, may take a toll on the exports despite their global competitiveness,” he said.

“I’d like (officials) to respond to unreasonable protectionist measures in a confident and stern manner by… reviewing whether the measures violate the current Korea-US free trade pact,” he said.

Mr. Moon also urged officials to “actively argue the unfairness” of the tariffs when renegotiating the bilateral free trade deal.

Mr. Moon’s comments also came days after the US Commerce department recommended hefty new tariffs on steel imports from countries including the South.

The US trade deficit — which Mr. Trump has vowed repeatedly to fix — widened even further during his first year in office, up 12% to $566 billion.

The Trump administration last July initiated talks to renegotiate the free trade pact with Seoul, arguing it was lopsided because America’s bilateral trade deficit had ballooned under it.

Two previous rounds of talks made little progress and Seoul’s chief trade negotiator Kim Hyun-chong said at the time there was “a long way to go.”

The next round of negotiations is scheduled in Washington next month. — AFP

Trump blasts Oprah over 60 Minutes episode

US PRESIDENT Donald J. Trump blasted media mogul Oprah Winfrey on Twitter on Sunday night over a segment on CBS’s 60 Minutes program and again said he hoped she would face him as an opponent in the 2020 presidential race.

Actress and television host Winfrey, now a contributor to the CBS program, led a panel of 14 Republican, Democrat and Independent voters from Grand Rapids, Michigan in a wide ranging discussion about Mr. Trump’s first year in office.

Mr. Trump tweeted: “Just watched a very insecure Oprah Winfrey, who at one point I knew very well, interview a panel of people on 60 Minutes. The questions were biased and slanted, the facts incorrect. Hope Oprah runs so she can be exposed and defeated just like all of the others!”

Ms. Winfrey has told various media outlets, including Entertainment Weekly, that she is not running for president, but has considered it, after there was much recent media speculation.

The panelists ranged from voters who said “I love him more and more every day,” to others questioning Mr. Trump’s stability, saying, “All he does is bully people.”

Ms. Winfrey made no declarative statements for or against the president in the program. But she did ask questions ranging from whether the country is better off economically to whether respect for the country is eroding around the world. — Reuters

Iran resumes hunt for missing plane with 66 onboard

TEHRAN — Iranian rescue teams resumed their search on Monday for a passenger plane that disappeared high in the Zagros mountains the previous day with 66 people onboard, local media reported.

State television said the weather had improved after blizzard conditions hampered search efforts Sunday, and that helicopters were now able to take part in the hunt for Aseman Airlines flight EP3704.

The authorities had called off the rescue effort overnight as heavy snow and rain made it impossible to work.

The ATR-72 twin-engine plane, in service for 25 years, left the capital’s Mehrabad airport at around 8 a.m. (0430 GMT) on Sunday and was heading towards the city of Yasuj, some 500 kilometers (300 miles) to the south.

It is thought to have crashed on the Dena mountain of Iran’s southwestern Zagros range, but one official said there could be as many as 100 peaks to search in the vast and remote area.

“The visibility in the defined search area is not very good and there is turbulence, so these safety concerns must be taken into account,” Morteza Dehghan of the Civil Aviation Organisation told state television.

“Despite all these conditions, both land and air teams are active. As soon as permission is given, drones will be used as well.”

Around 100 mountaineer rescue workers were deployed on Monday, state television said.

France’s air safety agency BEA said it would take part in the investigation led by Britain’s Air Accidents Investigation Branch.

“Three investigators and our technical advisers will go to the site,” a BEA spokesman told AFP. — AFP

PSEi returns to 8,700 level as rate hike fears ease

SHARES jumped on Monday as positive corporate earnings alongside dwindling fears for a faster rate hike by the US Federal Reserve fuelled optimism.

The 30-member Philippine Stock Exchange (PSEi) index went up 1.13% or 97.78 points to 8,710.22, while the broader all-shares index climbed 0.93% or 47.60 points to 5,123.20.

“It was a recovery in the market since we were absent last Friday. And also fears of…the movement of the rate increase by the Fed was allayed due to the fact that retail sales figure was not that strong enough. Thus this provided the market to be more optimistic of the continued growth,” Diversified Securities, Inc. equities trader Aniceto K. Pangan said in a phone interview.

Mr. Pangan added that corporate earnings have been positive so far, noting the reports released by property giants SM Prime Holdings, Inc. (SM Prime) and Ayala Land, Inc. (ALI).

SM Prime disclosed on Monday that recurring profit grew 16% to P27.6 billion, while ALI last week said that net income attributable to the parent climbed 21% to P25.3 billion in 2017.

“This means that both the property and consumer sector are positive. There’s relatively sustained growth in the market,” Mr. Pangan said.

All sectors ended on positive territory, led by the financials sub-index which gained 2.55% or 56.57 points to 2,266.86. Mining and oil followed with an increase of 1.72% or 201.85 points to 11,908.20. Property inched up 1.37% or 53.44 points to 3,938.61; services added 1.34% or 22.97 points to 1,728.44; industrials picked up 0.65% or 74.98 points to 11,473.60; while holding firms rose 0.38% or 33.56 points to 8,830.61.

Foreign investors turned buyers, snapping a 15-day selling streak with net inflows of P44.93 million on Monday, against net sales of P373.42 million last Thursday.

A total of 7.35 billion issues switched hands for a value turnover of P9.7 billion, lower than the P10.7-billion turnover in the previous session.

Advancers outpaced decliners, 141 to 65, while 44 names were unchanged.

The market moved in pace with Asian markets, which ended mostly on a positive note.

Analysts expect the upswing recorded on Monday to continue for the rest of the week, as long as the Fed would keep its rate hikes steady in the coming months.

“We expect some upside this week as long as it breaks and holds the 50-day average. This range trade will not last for long. Key support levels are expected to be tested within the month,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile phone message.

Other leads for the week include the release of minutes from the Federal Open Market Committee’s Jan. 30-31 meeting, which could provide more hints on the US central bank’s future moves, as well as the release of local balance of payments data scheduled yesterday. — Arra B. Francia

Peso plunges to worst finish in nearly 12 years

THE PESO plunged against the dollar on Monday to its worst showing in almost 12 years following the move of Bangko Sentral ng Pilipinas (BSP) to cut banks’ reserve requirement ratio by a percentage point.

The local currency closed today’s session at P52.34 against the greenback, 34 centavos weaker than its P52-per-dollar finish last Thursday.

This is the peso’s weakest finish in nearly 12 years or since it closed at P52.745 on July 19, 2006.

The peso traded weaker the whole day, opening the session sharply lower at P52.30 per dollar. Its intraday low stood at P52.45, while its best showing was at P52.24 against the US currency.

Dollars traded on Monday rose to $1.025 billion from the $578.5 million logged the previous session.

A trader interviewed on Monday said the market was “caught off guard” by the BSP’s move to cut the reserve requirement, which led to a weaker peso after the long weekend.

On Thursday, the central bank announced the “operational” cut in universal and commercial banks reserve requirement ratio — the regulator’s first adjustment to the standard since May 2014.

“In deciding to reduce the reserve requirement ratios, the Monetary Board reaffirms the BSP’s commitment to gradually lessen its reliance on reserve requirements for managing liquidity in the financial system,” the BSP said in a statement on Thursday.

The cut will take effect on March 2, according to the BSP circular.

Reserve requirements for thrift banks and rural banks, meanwhile, remain at 8% and 5%, respectively.

In a statement, Bankers Association of the Philippines welcomed the requirement cut, saying: “The reserve adjustment means that borrowers will have access to more sources of funds and more efficient cost of borrowing that is expected to propel more economic activity in the country.”

“Reducing requirement basically lets more peso into the system. So if there’s more peso circulating, it will be less valuable. Hence, we saw the peso weaken [yesterday],” the trader explained.

Meanwhile, the trader added that the central bank intervened late in the day to contain volatility.

As the country’s monetary authority, the BSP sometimes conducts “tactical interventions” to temper any sharp swings that may cause the peso to appreciate or depreciate.

UnionBank of the Philippines chief economist Ruben Carlo O. Asuncion noted that the market is waiting for the release of the [US Federal Reserve] minutes in search for clues on the pace of future interest rate hikes.

For Tuesday, Feb. 20, the trader and Mr. Asuncion sees the peso moving between P52.20 and P52.40 against the dollar.

Meanwhile, most Asian currencies consolidated on Monday as low liquidity and an absence of currency market catalysts limited gains, but strong regional equity markets propped them up.

The South Korean won, which resumed trading after a two-day Lunar New Year holiday, rose nearly 1%, leading the regional currencies’ gains on the day.

“In terms of the Asia FX (foreign exchange) movements, the most of what we are seeing is the reflection of what happened on the US close on Friday,” said Khoon Goh, head of Asia research at ANZ Banking Group (Singapore).

“However with most markets closed, we can’t read much into the price action today.”

The S&P 500 index rose on Friday to mark its biggest weekly increase in five years.

Currency markets in China and Taiwan were closed for Lunar New Year and India is shut for a banking holiday. — Karl Angelo N. Vidal with Reuters

Florida shooting survivors to march on Washington in call for gun reform

WASHINGTON — Students who survived a mass shooting at their Florida school on Sunday announced plans to march on Washington in a bid to “shame” politicians into reforming laws that make firearms readily available.

The “March for Our Lives” will take place on March 24, with sister rallies planned across the country, a group of students told ABC News’ This Week.

They pledged to make Wednesday’s slaughter in Parkland, Florida a turning point in America’s deadlocked debate on gun control.

Nikolas Cruz, 19, a troubled former student at Marjory Stoneman Douglas High School, confessed to killing 17 people with a legally purchased AR-15 semi-automatic rifle, the latest such atrocity in a country with more than 30,000 gun-related deaths annually.

Among the students announcing the march was Emma Gonzalez, who captured worldwide attention with a powerful speech in which she assailed President Donald J. Trump over the multimillion-dollar support his campaign received from the gun lobby.

She vowed Stoneman Douglas school would be “the last mass shooting.”

On Sunday, Ms. Gonzalez, 18, urged politicians to join a conversation about gun control — citing Mr. Trump as well as his fellow Republicans Florida Senator Marco Rubio and Governor Rick Scott.

“We want to give them the opportunity to be on the right side of this,” she said, as she and her four classmates called on students nationwide to help push the message.

Ms. Gonzalez and other Stoneman Douglas students were scheduled to be part of a nationally televised, prime-time “town hall” event on CNN on Wednesday. Mr. Rubio, who has attracted criticism for accepting millions in political help from pro-gun groups, tweeted that he would participate.

That same day, Mr. Trump will host a “listening session” with high school students and teachers, the White House said in a statement, though it did not specify who would attend.

The president met Sunday with top Republican lawmaker Paul Ryan, discussing “the recent tragedy in Parkland, Florida,” among other topics.

Singling out links between politicians and the powerful National Rifle Association, Stoneman Douglas student Cameron Kasky said any politician “who is taking money from the NRA is responsible for events like this.”

“This isn’t about the GOP,” he said, referring to the Republican Party. “This isn’t about the Democrats.”

The NRA, a traditional ally of the Republicans who currently control Congress and the White House, defends a literal view of the US Constitution’s 2nd Amendment which promises a right “to keep and bear arms.”

Even after last October’s killing of 58 people by a gunman in Las Vegas who amassed 47 firearms to commit the worst mass shooting in recent US history, legislators accomplished nothing in the way of tighter controls.

Accusing the NRA of “fostering and promoting this gun culture,” Mr. Kasky said the students seek “a new normal where there’s a badge of shame on any politician who’s accepting money from the NRA.”

“People keep asking us, what about the Stoneman Douglas shooting is going to be different, because this has happened before and change hasn’t come?” said Mr. Kasky.

“This is it,” he continued. “We are going to be marching together as students begging for our lives.”

The students did not indicate how many people they expected to join their rallies.

But their aims won support from Florida Democratic Congressman Ted Deutch, who said they can make a difference.

“After what they saw, the worst things imaginable, they’re not going to just sit back and take it,” he told This Week.

“All I’ve heard all week is how frustrated people are with rhetoric. They want action.”

Florida Republican Congressman Carlos Curbelo, speaking on the same program, said he is working towards bipartisan solutions that could prevent similar tragedies.

“There are a lot of Republicans who are prepared to support reasonable, common-sense gun safety laws,” he said.

Democratic Congressman Adam Schiff said that although Republicans have faced a bigger hurdle in making gun control a priority, “it’s been a challenge in the Democratic Party as well.”

Speaking on CNN’s “State of the Union,” Mr. Schiff asked, “How much more of this are we gonna to take? How many more shootings?”

Congress has to get “off its backside” to “stare down the NRA and do the right thing,” he said.

The student survivors’ calls for change “should matter,” said Mark Kelly, a retired astronaut whose wife, former congresswoman Gabrielle Giffords, was shot and wounded by a deranged gunman.

He said on Fox News Sunday that the student activists “are going to vote on this issue probably for the rest of their lives and they’re going to encourage others to do that as well.”

But conservative radio host Rush Limbaugh, speaking on the same show, said neither legislation nor marches are the answer.

“It’s not the fault of the NRA,” he said, calling for concealed weapons to be allowed in schools.

“If we are really serious about protecting the kids, we need a mechanism to be defensive.” — AFP

SSS offers calamity loan assistance to those affected by Mayon eruption

Social Security System (SSS) is offering calamity loan assistance to its members and pensioners who are affected by the eruption of Mayon volcano.

In a statement, state pension fund SSS said its active members and pensioners residing in areas affected by the Mayon volcano eruption can get financial aid under its calamity loan assistance program until May 15, 2018.

SSS president and chief executive officer Emmanuel F. Dooc said the member-applicants who will avail the assistance can avail of a maximum of P16,000 calamity loan and is payable in two years.

“To further help them recover from this unfortunate situation, monthly amortization will only start after three months from the time that they received the loan,” Mr. Dooc added.

The calamity loan assistance program is separate from the regular salary loan. The loanable amount is payable in equal monthly installments with an annual interest rate of 10% and monthly penalty of 1% for late payments.

SSS added that the 1% service charge was waived “as a special consideration.” — Karl Angelo N. Vidal