Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 1370

Death for rape-murder pushed

A SENATOR on Monday filed a bill that seeks to impose the death penalty or life in prison on rape-murder convicts, citing the need to make laws against sexual violence harsher.

Under Senate Bill No. 2777, which Senator Robinhood “Robin” C. Padilla filed, people convicted of rape using a deadly weapon and carried out by multiple people and incidents that lead to victims becoming insane will also face life in prison or the death penalty.

“Despite the penalties under the Anti-Rape Law of 1997, this representation still finds it compelling to increase the punishment for any person who shall commit an act of rape,” the senator said in a statement.

“By doing so, we can be more certain that our laws are stronger, more gender-responsive and progressive especially in these changing times.”

Mr. Padilla said the government should ensure that men who are victims of rape and sexual violence are also protected.

More males aged 13 to 24 years experience sexual violence than females, Mr. Padilla said, citing a 2017 study by the United Nations Children’s Fund and Council for the Welfare of Children. — John Victor D. Ordoñez

Clark Depot 82% finished

THE DEPARTMENT of Transportation (DoTr) on Monday said the Clark Depot of North-South Commuter Railway (NSCR) is 82% done.

The depot sits on 33 hectares of land and will have 48 depot buildings and facilities, a stabling yard that will be crucial to the operations of the NSCR by 2027, the DoTr said in a statement. The depot is said to be a crucial part in time for the projected partial operations of NSCR by end 2027, or first quarter of 2028.

“The Clark Depot will be NSCR’s major depot, ensuring the interoperability of the whole alignment of the system from Clark in Pampanga all the way to Calamba in Laguna,” the DoTr said. — Ashley Erika O. Jose

Battle vs fake cosmetics pushed

GS1 PHILIPPINES and the Chamber of Cosmetics Industry of the Philippines are partnering to combat fake cosmetic products through the use of advanced barcode technology.

In a statement, GS1 Philippines said the barcode technology is important for the cosmetics industry amid the rampant sale of counterfeit products.

“The beauty and personal care market in the Philippines is projected to generate $6.47 billion in revenue in 2024, with an annual growth rate estimated at 1.32% until 2028,” GS1 said.

“However, the cosmetics industry faces significant challenges, notably the prevalence of counterfeit products. Recently, banned beauty items have been spotted and sold in local shops in Taguig,” it added.

“By adopting GS1 standards and leveraging barcode technology, cosmetics companies can ensure product authenticity, improve inventory management and strengthen consumer trust,” the organization said. — Justine Irish D. Tabile

Smuggled appliance probe sought

A RESOLUTION seeking to investigate the sale of smuggled appliances was filed at the House of Representatives on Monday.

The entry of smuggled appliances bought through online shopping platforms could affect the local appliance industry, leading to job losses if not curbed, Party-list Rep. Erwin T. Tulfo said in a privileged speech.

“We have witnessed a troubling trend in the rise of substandard and counterfeit products flooding our market, particularly through online platforms,” he said. “The presence of these substandard products has created an uneven playing field, where legitimate local manufacturers are forced to compete against goods… sold at prices that are impossible… to match.”

The House resolution cited gaps in enforcing online sales that lead to the entry of smuggled appliances. — Kenneth Christiane L. Basilio

Space agency touts deals

THE PHILIPPINE Space Agency has signed 12 space data mobilization deals with government agencies since July 2022, according to Malacañang.

PhilSa has also signed partnerships and collaborated with the space agencies of several countries, including Japan, the United Kingdom, France, South Korea and the United States, the presidential palace said in a statement on Monday after a meeting of the Philippine Space Council led by President Ferdinand R. Marcos, Jr.

The agency has also received four Pandora instruments for air quality measurement and distributed 59,455 satellite images and maps.

It has also launched the Space Data Dashboard, a system of geospatial data and information accessible to the public. — Kyle Aristophere T. Atienza

ODA projects lack P64B in firm PHL counterpart funds

PHILIPPINE STAR/ RUSSELL PALMA

By Beatriz Marie D. Cruz, Reporter

THE GOVERNMENT needs to source around P64 billion if it is to contribute its share of the project costs in works supported by official development assistance, the National Economic and Development Authority (NEDA) said. 

“For 2024, the unprogrammed appropriations that’s available for the ODA (official development assistance) funded projects stand at P236.49 billion,” Paul Andrew M. Tatlonghari, NEDA-Monitoring and Evaluation Staff officer-in-charge and assistant director, said at a briefing last week.

The 12 implementing agencies overseeing the 49 foreign-assisted projects, on the other hand, are requesting P300.01 billion, which means a potential funding gap of just under P64 billion.

Unprogrammed funds are those which the government has no definite sources for as yet, though it has declared its intention to spend. The government can address such shortfalls by taking on more debt, enhancing tax collections, or asking government-owned and -controlled corporations (GOCCs) to contribute more dividends.

The unprogrammed budget also includes support for persons who will be displaced by projects as well as P3 billion for right-of-way payments, NEDA said.

“We’re seeing a shortfall because there’s only limited UA (unprogrammed appropriations) than what is being requested by the agencies,” Mr. Tatlonghari said. 

“There’s an overhang there that they would have to catch up in the succeeding years,” Mr. Tatlonghari said.

According to NEDA’s latest ODA Portfolio Review, agencies would need a total of P2.03 trillion to complete 69 projects in the next few years.

Of these, the Department of Transportation would need the most funding — P1.19 trillion.

Implementing agencies would need P483.56 billion next year to support foreign-assisted projects, a funding requirement that is expected to rise to P488.47 billion in 2026 and P745.22 billion in 2027.

“While there are available loan balances from development partners, disbursement of these loan proceeds cannot proceed without corresponding appropriation in the GAA. Hence, each loan-supported project must secure adequate budgetary cover within the fiscal year to enable withdrawal of loan proceeds,” NEDA said.

ODA works typically require the government to come up with counterpart funding, to ensure that the host country has an interest in the project’s success.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said GOCC surpluses are more and more likely to be harvested going forward if the government is to keep its roster of ODA-backed projects going.

“On a policy level, government can improve revenue collection, introduce new taxes or undertake domestic or foreign borrowing to fund next year’s budget priorities,” Terry L. Ridon, a public investment analyst and convenor of think tank InfraWatch PH, said via Viber.

To avoid implementation delays, agencies may request the Commission on Elections to exempt major infrastructure projects from its spending ban ahead of the midterm elections, NEDA Secretary Arsenio M. Balisacan told the briefing.

Meanwhile, the Department of Finance (DoF) is looking to develop a microsite promoting transparency in implementing ODA-backed projects.

The proposed microsite will include detailed project descriptions and progress reports, it said in a statement.

The DoF and its partner agencies have been in talks to streamline, codify and automate the negotiation and implementation procedures for ODAs.

Palay production seen flat in 2024 due to El Niño

REUTERS

THE Department of Agriculture (DA) said production in 2024 of palay, or unmilled rice, is estimated to be little changed at 20.1 million metric tons (MMT), due largely to the dry conditions brought on by El Niño.

“Because we were hit by El Niño and then in the second half by La Niña, we are hoping to achieve parity with last year,” Agriculture Secretary Francisco P. Tiu Laurel, Jr. said at a budget hearing in the House of Representatives.

The latest estimate represents a downgrade of an earlier DA projection of 20.44 MMT.

In 2023 palay production was 20.06 MMT, equivalent to about 13 MMT of milled rice.

“Our production fell during the first half. Then during the second half we are seeing wetter conditions, huwag lang sana tayo tamaan ng bagyo (We are hoping typhoons will not inflict serious damage), We’re hoping that our production will be the nearly the same as in 2023,” Mr. Laurel added.

In the first half, palay production dropped 5.5% to 8.53 MMT, according to the Philippine Statistics Authority. This was the lowest level of first half production since the 8.39 MMT posted in 2020.

“I don’t want to over-promise… but it would depend on the gravity (of La Niña),” Mr. Laurel said on the sidelines of the briefing.

The government weather service, known as PAGASA (Philippine Atmospheric, Geophysical and Astronomical Services Administration), declared the end of El Niño in early June.

“I’m expecting one or two strong typhoons… So I have to be more conservative in our estimates,” he added.

PAGASA estimated a 70% likelihood La Niña will set in between August and October, raising the probability of tropical cyclone activity in the coming months.

The rice harvest services about 70% of domestic demand, with imports taking care of the rest.

At the hearing, Mr. Laurel said that the DA estimates rice imports for 2024 of 4 MMT.

The US Department of Agriculture projects Philippine rice imports of 4.7 MMT this year, due to the higher-than-expected volumes during the first half.

“We are trying our best to increase production, not only (via) better seed and technology, but also with the increased number of harvests,” he added.

The government lowered the tariffs on imported rice to 15% from 35%, until 2028 through Executive Order No. 62, in a bid to bring down rice prices.

The DA has said that the lowered tariff on imported rice could bring down rice prices by P6-P7 per kilogram.

“With the 15% tariff… the price of rice should be at P45 per kilo by mid-October, couple with stable world market prices, and foreign exchange rates,” Mr. Laurel said.

He added that the DA is also proposing that the National Food Authority’s buying price for palay during the wet season harvest be set at P23 per kilo dry and P20 per kilo wet. — Adrian H. Halili

Retailers see VAT refund enhancing PHL appeal as shopping destination

PIXABAY

By Justine Irish D. Tabile, Reporter

THE PHILIPPINES must keep pace with the rest of the region in offering an attractive shopping experience to visitors, an appeal than can be enhanced with value-added tax (VAT) refunds, the retail industry said.

Philippine Retailers Association (PRA) President Roberto S. Claudio said the incentives to foreign shoppers proposed in Senate Bill (SB) No. 2415 promise a significant boost to tourism, and downplayed an economist’s view that visitors assign little importance to shopping here.

“Our tourism program must not only focus on the tourist experience in the Philippines. We must first offer attractive incentives to make them choose the Philippines as their choice of destination,” Mr. Claudio said via Viber.

“Because we are the only Asian country that does not offer a tax refund for tourist schemes, we suffer from the fewest tourist arrivals compared to all other Asian countries when it comes to attracting tourists, who all seem to love shopping when they are abroad,” he added.

At the weekend, Foundation for Economic Freedom President Calixto V. Chikiamco said developing health facilities in tourist spots and doing away with cumbersome immigration processes will likely help the tourism industry grow more than tax rebates.

The Senate started deliberating SB 2415, which aims to provide non-resident tourists with VAT refunds for purchases worth at least P3,000 to encourage more visitor spending.

A counterpart bill for the proposed measure was approved by the House of Representatives on March 6, 2023.

The Department of Tourism (DoT) is targeting international arrivals of 7.7 million this year. However, Tourism Chief Ma. Esperanza Christina G. Frasco described the goal as a “moving target,” noting the difficulties in attracting visitors from China.

Visitor arrivals totaled 3.62 million as of Aug. 7, representing 47% of the target set for the year.

Meanwhile, the DoT reported visitor receipts of P323.68 billion in the first seven months, up 13.2% from a year earlier.

According to Mr. Claudio, the PRA supports a VAT refund scheme for tourists, citing the scheme as necessary to be competitive in attracting visitors.

“There are eight countries in Asia and 61 countries in the rest of the world offering tax incentives for tourists. We never played the tax refund incentive card in the history of our tourism program,” he said.

“After we put up the incentive packages to attract tourists to choose the Philippines, then we focus on giving the tourist the best airport, hotel, and restaurant experience and onward travel modes to their resort or other attractions,” he added.

Citing a report by tax refund service provider Global Blue, he said that 80% of countries that offer tax refund schemes improved their tourist arrivals and expenditures.

Legislators signal readiness to raise agri budget by P88 billion

Farmers are seen in a rice field in Bustos, Bulacan, Oct. 17, 2023. — PHILIPPINE STAR/KJ ROSALES

LEGISLATORS said on Monday they are prepared to raise the agriculture budget for 2025 by as much as P88 billion, saying the government should not have reduced funding for the Department of Agriculture (DA) by 6% if it wanted to achieve food security.

The minimum budget increase Congress should consider is P88 billion, Camarines Sur Rep. Luis Raymund F. Villafuerte, Jr. said at a budget hearing of the House appropriations committee.

“Increase the budget for irrigation by P25 billion to fund solar and pipe irrigation infrastructure,” he said. “Add another P8 billion for storage facilities, particularly cold storage.”

He proposed that post-harvest facilities also receive an additional P10 billion to mitigate losses, with another P10 billion going to the Rice Development Program.

Fishports and food terminals should also receive a P4 billion boost each to improve food distribution and processing, he added.

He gave no further details on his proposed spending items.

Party-list Rep. Wilbert T. Lee said that the government’s decisions are not consistent with the objective of lowering food prices.

“It’s as if we’re just kidding ourselves,” he said. “We want to increase production and lower food prices, but the DA’s budget was slashed; the government has cut the budget for almost everything important,” Mr. Lee said.

“I strongly urge my fellow congressmen to increase the budget of the Department of Agriculture to address the challenges of the agriculture sector in support of farmers and fisherfolk and to achieve food security,” Party-list Rep. Jose J. Teves, Jr. said at the DA budget briefing.

While proposed budget for the DA itself will reflect a 12.9% increase to P129 billion in 2025, the government has cut funding to agriculture-affiliated agencies and corporations by 28% to P71 billion in 2025, according to the department’s budget briefer. 

Overall, agriculture’s proposed 2025 funding, excluding the Department of Agrarian Reform budget, is P200.2 billion, which would be 6% lower than the approved funding for 2024.

“I don’t like the budget we’ve been allocated; of course, I want more,” Agriculture Secretary Francisco Tiu Laurel, Jr. told legislators. 

“What we asked for is P500 billion, and right now it’s only at P200 billion. If we can get P300 billion… I think that would be a big help,” he told reporters on the sidelines of the hearing.

“It’s good that we (are considering to) give additional funding to the Department of Agriculture, but we need to review the performance of all these attached agencies so that we would know how they are performing right now before we add these billions of pesos,” Baguio Rep. Mark O. Go said, expressing concern at Mr. Villafuerte’s proposal. — Kenneth Christiane L. Basilio

Peso weakens on geopolitical concerns, policy easing bets

BW FILE PHOTO

THE PESO inched down against the dollar on Monday amid renewed geopolitical concerns and market caution ahead of the Bangko Sentral ng Pilipinas’ (BSP) policy meeting.

The local unit closed at P57.316 per dollar on Monday, dropping by 3.6 centavos from its P57.28 finish on Friday, Bankers Association of the Philippines data showed.

The peso opened Monday’s session slightly weaker at P57.299 against the dollar. Its worst showing was at P57.42, while its intraday best was at P57.25 versus the greenback.

Dollars exchanged went down to $1.18 billion on Monday from $1.5 billion on Friday.

The peso weakened against the dollar as sentiment soured amid escalating tensions in the Middle East and amid a lack of catalysts, a trader said by phone.

US Defense Secretary Lloyd Austin has ordered the deployment of a guided missile submarine to the Middle East, the Pentagon said on Sunday, as the region braces for possible attacks by Iran and its allies after the killing of senior members of Hamas and Hezbollah, Reuters reported.

While the USS Georgia, a nuclear-powered submarine, was already in the Mediterranean Sea in July, according to a US military post on social media, it was a rare move to publicly announce the deployment of a submarine.

In a statement after Austin spoke with his Israeli counterpart, the Pentagon said Austin had ordered the Abraham Lincoln strike group to accelerate its deployment to the region.

“Secretary Austin reiterated the United States’ commitment to take every possible step to defend Israel and noted the strengthening of US military force posture and capabilities throughout the Middle East in light of escalating regional tensions,” the statement added.

The US military had already said it will deploy additional fighter jets and Navy warships to the Middle East as Washington seeks to bolster Israeli defenses.

“The peso weakened due to market caution ahead of the BSP policy meeting this week,” a second trader said in an e-mail.

A BusinessWorld poll conducted last week showed that nine out of 16 analysts surveyed expect the Monetary Board to deliver a 25-basis-point (bp) rate cut at Thursday’s review.

This would bring the target reverse repurchase rate to 6.25% and would be the first reduction in benchmark borrowing costs since November 2020, or during the coronavirus pandemic.

The Monetary Board has kept its policy rate at an over 17-year high of 6.5% since October 2023 following cumulative hikes worth 450 bps.

BSP Governor Eli M. Remolona said last week that the Monetary Board is now “a little bit less likely” to cut rates at its Aug. 15 policy meeting following the worse-than-expected July inflation print.

Headline inflation accelerated to a nine-month high of 4.4% in July from 3.7% in June, slower than the 4.7% print in the same month a year ago and within the BSP’s 4%-4.8% forecast.

For Tuesday, the first trader sees the peso moving between P57.10 and P57.50 a dollar as the market awaits the BSP’s policy meeting.

The second trader sees the peso ranging from P57.20 to P57.45 ahead of the release of key US inflation reports. — AMCS with Reuters

PHL must explore more sources of growth, Balisacan says

OFFICIALGAZETTE.GOV.PH

THE PHILIPPINES must diversify its sources of growth to remain resilient in the face of a looming recession in the US, the National Economic and Development Authority (NEDA) said.

“No country will be spared from a hiccup that comes from the biggest economy in the world,” NEDA Secretary Arsenio M. Balisacan said at a briefing last week.

“We need to ensure that (sources of growth) can be diversified enough to be able to withstand any major shocks.”

Weak US employment data in July heightened worries of a potential US recession.

Exports would be most affected in the event the US economy stalls out, Mr. Balisacan said. 

In June, the value of exports dropped 17.3% year on year to $5.57 billion, the lowest value in 13 months.

In particular, Mr. Balisacan said the electronics and semiconductor industry should “move to higher levels” of production.

The Philippine semiconductor industry currently focuses on the assembly, testing, and packaging of electronic goods.

Exports of electronic goods, which accounted for 53.7% of total exports, fell 24.4% to $2.99 billion in June. 

Semiconductor exports dropped 29.5% to $2.32 billion in June, according to the Philippine Statistics Authority.

Mr. Balisacan cited the potential of the food processing industry in diversifying exports.

The information technology-business process outsourcing sector could also help increase the value-added potential of the manufacturing industry, he added.

Exports of manufactured goods fell 21.1% to $4.34 billion in June, accounting for 78% of the total.

RECESSION IMPACTS
The sputtering US economy may also weaken remittances and foreign direct investment, Union Bank of the Philippines, Inc., Chief Economist Ruben Carlo O. Asuncion said.

“In general, a US economic decline can affect overall investor and consumer confidence. This can create uncertainty impacting not just the Philippines, but the whole world,” he said via Viber.

“However, it is fitting to note that the extent of the impact will depend on various factors, and there are many moving parts,” Mr. Asuncion added. “This includes, as earlier alluded to, the level and severity of the US downturn.” — Beatriz Marie D. Cruz

Senate bills on livestock dev’t, enterprise-based learning approved on third reading

PHILIPPINE STAR/ ANDY ZAPATA JR.

THE SENATE has approved on third and final reading a bill seeking to develop a modernization plan for the livestock, poultry and dairy industries, and another bill promoting enterprise-based learning.

At the Monday plenary session, senators unanimously approved Senate Bill No. 2558, which calls for a livestock, poultry, and dairy competitiveness fund to be set up with support from import tariffs of P7.8 billion a year for the next 10 years.

“Through Senate Bill No. 2558, we will set a clear and strategic direction for the livestock, poultry and dairy industries, strengthen the organizational structure and institutional capacity of relevant agencies, and ensure that adequate resources are provided to support the growth and competitiveness of the industry,” Senator Cynthia A. Villar, who sponsored the measure, said in a statement.

It also calls for the establishment of the Office of the Undersecretary of the National Livestock, Poultry, Dairy, and other Animals Program to oversee policy geared at boosting production in these industries. 

These policies will be focused on benefiting small-scale farmers and organizations engaged in these industries, as duly accredited by the Department of Agriculture.

Legislators also approved Senate Bill No. 2587 or the proposed Enterprise-Based Education and Training Framework Act, which will set up a roadmap for programs promoting industry-driven skills building programs for the workforce.

The measure seeks to bridge the gap between the needs of industry and worker skills.

“While there are many workers who accept jobs that are not commensurate with their qualifications, there are also many workers who lack the required skills,” Senator Emmanuel Joel J. Villanueva, the bill’s author, said in a statement.

President Ferdinand R. Marcos, Jr. has said his government aims to create at least three million new jobs through upskilling and reskilling programs.

Also on Monday, Senators approved on second reading a bill creating a framework for a blue economy, which will seek to preserve and sustain the Philippines’ ocean-based resources.

The blue economy is an economic model seeking the sustainable utilization of ocean resources through green infrastructure and technology.

Under Senate Bill No. 2450, the government is tasked with drafting a plan to manage marine and coastal resources while coming up with policies to mitigate land and sea-based pollution as well as overfishing. — John Victor D. Ordoñez

1...1,3691,3701,371...12,774Page 1,370 of 12,774
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube