Home Blog Page 2908

How PSEi member stocks performed — January 25, 2024

Here’s a quick glance at how PSEi stocks fared on Thursday, January 25, 2024.


Peso sinks to near 3-month low before US GDP

FREEPIK

THE PESO declined to a near three-month low versus the dollar on Thursday ahead of the release of US gross domestic product (GDP) data.

The local unit closed at P56.53 per dollar on Thursday, weakening by 23 centavos from its P56.30 finish on Wednesday, based on Bankers Association of the Philippines data.

This was the peso’s weakest close since its P56.73 finish on Oct. 31, 2023.

The peso opened Thursday’s session stronger at P56.22 against the dollar. Its intraday best was at P56.16, while its weakest showing was at P56.57 versus the greenback.

Dollars exchanged went up to $1.47 billion on Thursday from $1.38 billion on Wednesday.

“The peso weakened anew due to some caution ahead of the US GDP report,” a trader said in an e-mail.

Fourth-quarter and full-year 2023 US GDP data were set to be released overnight.

The peso declined amid weak hot money data, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Foreign portfolio investments posted a net outflow of $247.3 million last year versus the net inflow of $886.7 million in 2022, data from the Bangko Sentral ng Pilipinas showed.

Stronger-than-expected US manufacturing data also weighed on the peso as it reduced expectations of an early rate cut by the US Federal Reserve, Mr. Ricafort added.

For Friday, the trader sees the peso moving between P56.30 and P56.55 versus the dollar, while Mr. Ricafort expects it to range from P56.40 to P56.60.

Shares snap winning run as investors pocket gains

REUTERS

PHILIPPINE SHARES halted their winning run on Thursday as investors pocketed their profits from the rally while awaiting more trading drivers.

The benchmark Philippine Stock Exchange index (PSEi) slipped by 6.46 points or 0.09% to end at 6,673.50 on Thursday, while the broader all shares dropped by 3.25 points or 0.09% to close at 3,508.19.

“This Thursday, the local market inched down by 6.46 points to 6,673.50 as investors took profits after a three-day rally,” Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.

“The bourse seems to have a hard time as it nears the 6,700 resistance level, which may indicate that investors are not yet prepared to get past the said level as reflected by this session’s low net market value turnover…  Also, many are still waiting for a catalyst to emerge,” Mr. Plopenio added. 

Value turnover decreased to P4.88 billion on Thursday with 684.77 million issues switching hands from the P5.64 billion with 343.17 million shares seen the prior day.

The local bourse ended in negative territory as investors looked ahead to the release of fourth quarter and full-year 2023 US gross domestic product data overnight, Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“The world’s largest economy is expected to show growth at a 2% seasonally adjusted annualized pace. That will reflect a slowing from the 4.9% reading in third quarter of 2023. The results could be a key catalyst for stocks as investors try to glean details on the state of the economy heading into the new year,” Mr. Limlingan said. 

The majority of sectoral indices closed lower on Thursday. Mining and oil went down by 89.88 points or 0.96% to 9,200.41; services retreated by 4.96 points or 0.3% to 1,621.45; holding firms dropped by 18.31 points or 0.28% to 6,352.02; and property declined by 8.14 points or 0.27% to 2,906.88.

On the other hand, industrials rose by 26.97 points or 0.29% to 9,149.35, and financials climbed by 1.33 points or 0.07% to end at 1,885.48.

“Among the index members, Bloomberry Resorts Corp. was at the top, climbing 5.95% to P11.40. International Container Terminal Services, Inc. lost the most, dropping 2.03% to P241,” Mr. Plopenio said. 

Decliners outnumbered advancers, 105 versus 67, while 51 names ended unchanged.

Net foreign buying fell to P80.13 million on Thursday from the P341.09 million recorded on Wednesday.

“Immediate minor support levels are expected at the 6,400-6,510 levels, while immediate major support ranges from 6,215 to 6,310, which could help keep intact the underlying momentum seen over the past two months,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message. — R.M.D. Ochave

Analysts sense political insecurity as Marcos graces Sunday’s coalition rally

PHILIPPINE STAR/KRIZ JOHN ROSALES

By Kyle Aristophere T. Atienza, Reporter

THE MARCOS administration’s efforts to consolidate support at the local level indicate increasing insecurity within the ruling coalition, which has been threatened by talks of unrest in the military amid tensions with political elites from the country’s south, certain political analysts said on Thursday.

The National Government will hold a grand rally with the theme “Bagong Pilipinas” (New Philippines) at a major grandstand in the capital Manila on Sunday, and expected guests include President Ferdinand R. Marcos, Jr. and other government officials.

The kick-off rally, which has been endorsed by various government agencies, followed a year that saw major internal rumblings against the backdrop of rising commodity prices, which have significantly lessened the administration’s popularity among its most loyal supporters.

“It’s a show of strength to bolster continued support to the regime in the face of breakaway elements from the Unity coalition,” Hansley A. Juliano, who teaches political science at the Ateneo de Manila University said in a Facebook Messenger chat.

“It’s an attempt to overawe potential defectors to Duterte’s camp,” he said. “It does help that the Marcos loyalists tend to be a bit more consistent ideologically than the allies of former president Rodrigo R. Duterte.”

The gap between Mr. Marcos and Vice President Sara Duterte-Carpio, his running mate in the 2022 elections, widened last year following moves by House lawmakers to strip the latter of her confidential and intelligence funds under the 2024 national budget amid widespread public criticism.

In an apparent response, Mr. Duterte, the former president, had accused House Speaker Martin G. Romualdez, a first cousin to Mr. Marcos, and other lawmakers of corruption and called on the public to stop paying taxes.

Tensions between Mr. Romualdez and the Dutertes of the southern Philippine city of Davao had been apparent after the House lawmakers removed former president and now Pampanga lawmaker Gloria M. Arroyo in May from her senior deputy speakership post and then again in November as a deputy speaker.

Mr. Marcos has veered away from some of the key policies of the Duterte administration, like standing up to Beijing amid its aggression in the South China Sea and vowing to shift the focus of the government’s anti-narcotics campaign to rehabilitation from a deadly approach.

“This event is either a re-assertion of ‘Unity’ or a redirection towards a narrative of ‘Bagong Pilipinas’ that need not be based upon a Marcos-Duterte Uniteam,” said Anthony Lawrence Borja, a political science professor at De La Salle University.

Aside from the personality-driven tensions between members of the “Marcos-Romualdez and Duterte factions,” he also cited recent confrontations between the Senate and the House of Representatives on the push to amend the 1987 Constitution.

Efforts to amend the country’s 36-year-old Charter — written after a popular street uprising in 1986 that topped the dictatorial regime of Mr. Marcos’ late father — have been emboldened by a so-called “people’s initiative,” a move tainted by allegations of bribery that would allow both houses of Congress to act as a Constituent Assembly and vote jointly.

On Wednesday, the 24-member Senate issued a strongly worded statement against the move, saying it is “ridiculous” for the Senate to have a “dispensable and diluted role” in the Charter change (“Cha-cha”) push.

Mr. Marcos, 66, recently said he is in favor of amending the economic as well as the political provisions of the Charter. The economic aspects should be prioritized over the political provisions so as not to derail the “Cha-cha” push, he noted in a television interview.

“I won’t be surprised if this kick off rally becomes an impromptu roadshow of the Charter Change agenda,” Mr. Juliano said, “with the crowds being promised so many things to support the initiatives of the allies.”

An anti- “Cha-cha” rally, which is expected to be attended by thousands, will also be held on Sunday in Davao City, the political bailiwick of the former president and his family.

“What we are witnessing is a show of force or numbers from both sides,” Jan Robert Go, who teaches political science at the University of the Philippines, said via Messenger chat.

“On the one hand, you have the Marcoses proclaiming a ‘new’ Philippines, a banner of the administration’s vision,” he explained. “On the other hand, you have a rally that denounces the charter change efforts, primarily attributed to the House of Representatives led by the President’s cousin.”

“It is not a coincidence that the anti-chacha rally will be held in Davao,” he added.

Mr. Go said the Duterte camp might be redefining or recreating another center of political power, which is Davao City, where the former president had been known for his brutal campaign against alleged criminals.

The administration-led Sunday rally at the Quirino Grandstand in Manila would likely serve a “consolidation of factions heralding a post-Unity period” amid the rise of a supposed new opposition,” Mr. Borja said.

“It can even end up as a poorly attended rally given sustained political inaction among many Filipinos.”

Inflation remains a key risk to the Philippines’ economic growth, and a recent survey by Octa Research showed that most Filipinos view it as a top concern.

Headline inflation hit a 14-year high of 8.7% year on year in the first month of 2023. It declined to 3.9% in December, but the full-year average for 2023 hit 6.0%, breaching the central bank’s 2%-4% target.

Earlier this month, the Trade department said it had permitted manufacturers of basic necessities and prime commodities to reduce the size or weight of their products to cope with rising costs of production.

“The rally will in no way help Filipinos cope with the many challenges they face on a daily basis,” policy analyst Michael Henry Yusingco said via Messenger chat.

“This rally is an exercise of pure self-indulgence — just to make the administration happy about itself at the expense of taxpayers.”

Sara unveils DepEd’s digitalization program

PHILSTAR FILE PHOTO

VICE PRESIDENT and Education Secretary Sara Duterte-Carpio unveiled a program that seeks to digitalize public schools nationwide and cited the gains of a pilot curriculum put in place last year to address the cut in learning competencies at an annual event attended by the President on Thursday.

“We will pursue full digitization and interconnectivity of all DepEd (Department of Education) offices and schools,” Ms. Duterte-Carpio said at the Basic Education Report 2024 at a hotel in Pasay City, where she also launched her department’s Digi-Ed (Digital Education) 2028 program.

In attendance, sitting beside her on the stage, was President Ferdinand R. Marcos, Jr.

Also addressing the event, Mr. Marcos mentioned the pilot run of the DepEd’s recalibrated curriculum — the Matatag K-to-10 program in 35 schools — and cited the need to continually train and upskill teachers.

“Teachers are incubators of ideas. Teachers are innovators. So as we move forward, let us keep the teachers as the standards for learning competencies,” he said in his speech after Ms. Duterte-Carpio’s address.

Moments earlier, the Vice President said the DepEd also vowed to build more classrooms and boost teaching skills but underscored the importance of the Digi-Ed 2028 program.

“This will be our flagship program to banner our commitment to adaptability and technological advancement,” she said.

Under the program, DepEd will ensure internet connectivity in schools, harness the potential of technology to advance teaching and learning methods, and pursue large-scale assessments using computer-based methodologies.

While 69% of DepEd schools nationwide have access to internet connectivity, “the truth is that most are limited only to faculty Rooms,” said Ms. Duterte-Carpio, noting talks with internet providers to boost teachers’ and learners’ Wi-Fi access.

Digi-Ed also pushes for the creation of electronic versions of textbooks.

“To leverage digital technology, we have started consultations with various publishers to facilitate the provision of electronic textbooks,” Ms. Duterte-Carpio said, noting that winning bidders in the procurement of textbooks for the so-called Matatag K-10 Curriculum will be required to “provide us with electronic copies that learners may access anytime.”

She said the agency will also promote the responsible and ethical use of technology, “especially with the world exploring Artificial Intelligence in both teaching and learning.”

Under the new jargon, DepEd will build a one-stop “online/offline platform open to teachers, learners and parents.” It will house all digital learning resources and applications in a bid to make learning and teaching materials “accessible” even in times of calamities.

“The portal also seeks to connect multiple DepEd systems in order to provide real-time education statistics and information to our stakeholders.”

Ms. Duterte said DepEd also seeks to “close the gap” in physical infrastructure,” vowing to prioritize schools that have makeshift or temporary classrooms and calamity-stricken areas with many unfunded calamity-damaged school buildings.

The agency will also focus on the construction of medium-rise school buildings in priority areas “with high classroom shortage but with limited buildable space,” she added.

The so-called Matatag curriculum that was launched last year cut down learning competencies down to around 3,600 from over 11,000 to prioritize literacy, numeracy, and socio-emotional skills, which are all deemed “foundational” by DepEd.

It is being piloted in 35 schools nationwide, including sites in Cordillera Administrative Region, Metro Manila, Ilocos Region, Cagayan Valley, Central Visayas, Soccsksargen, and Caraga.

Earlier this month, ACT Teachers Party-list said the government, through the years, has failed to implement a significant salary increase that is at par with the living wage.

The current DepEd leadership has remained “silent on the pleas of teachers and employees,” it said.

Ms. Duterte, in her report, said the agency has already “engaged the World Bank to provide us with a study on teacher salary.”

“We will continuously strengthen teacher support through Professional Development Programs for educators and school leaders, as well as training for teaching reading across grade levels,” she pledged. — Kyle Aristophere T. Atienza

China moves to double maritime militia presence at Mischief Reef

Chinese dredging vessels are purportedly seen in the waters around Mischief Reef in the disputed Spratly Islands in the South China Sea in this still image from video taken by a P-8A Poseidon surveillance aircraft provided by the United States Navy May 21, 2015. — U.S. NAVY/HANDOUT VIA REUTERS/FILE PHOTO

CHINA has increased its maritime militia presence at Mischief Reef in an apparent attempt to block a regular resupply mission by the Philippines to its troops stationed in the wreckage of a World War II ship grounded on Second Thomas Shoal, a think tank said on Thursday.

Most of China’s maritime militia vessels have been deployed to Mischief Reef, “where the Qiong Sansha Yu fleet is up from 14 last week to 35 now,” Raymond Powell, lead of Project Myoushu at the Gordian Knot Center for National Security Innovation, said in an X message.

He said China may be boosting its presence there until after the Philippines’ next resupply mission to Second Thomas Shoal, in which a World War II-era ship was grounded in 1999 to assert Philippine presence following China’s seizure of Mischief Reef in the Spratly Islands in 1995.

The United States-based think tank at the weekend China had “major maritime rotation” across the South China Sea as it deployed at least 27 Qiong Sansha Yu-class ships south into the Spratly Islands and east into Scarborough Shoal.

The movement was seen just days after the Philippines and China convened their eighth Bilateral Consultation Mechanism (BCM) meeting in Shanghai and agreed yet again to deescalate tensions through friendly talks.

On Monday, the Philippine military said it had postponed a resupply mission to BRP Sierra Madre because Unaizah Mae 1, one of its indigenous boats used for the activity, experienced “technical difficulty.”

“So, until such time that we determine that that vessel going to be used is seaworthy,” its spokesperson, Colonel Francel Margareth Padilla said. “That’s the time that we can reschedule another mission.”

During a resupply mission in early December, the wooden boat experienced “reckless and dangerous harassment at close range” and was rammed by a Chinese Coast Guard vessel. Philippine military chief Romeo Brawner, Jr. was onboard at that time.

A News5 report on Tuesday, which cited an unnamed senior military official, said the AFP had “dropped food, water and other supplies” from a plane to troops stationed on BRP Sierra Madre, which is manned by over a dozen troops. — Kyle Aristophere T. Atienza

SC, UN expert discuss freedom of expression issues

REPRESENTATIVES of media groups, artists, and freedom advocates hold up placards of emojis to champion freedom of expression during a press conference at a restaurant in Quezon City on Tuesday, ahead of the official visit in Manila of UN Special Rapporteur on Freedom of Expression and Opinion Irene Khan. — PHILIPPINE STAR/MICHAEL VARCAS

By John Victor D. Ordoñez, Reporter

THE SUPREME COURT (SC) and the United Nations (UN) Special Rapporteur for Freedom of Opinion and Expression Irene Khan met on Wednesday to discuss the importance of the Philippine Judiciary’s role in upholding the rule of law in cases involving free speech.

“We fully appreciate that the special rapporteur understands that there is always a balance between expression and security,” Senior Associate Justice Mario Victor F. Leonen said in a statement on Thursday.

“We have also in some of our cases already acknowledged that there may be differences in the regulation of hate speech and also performative speech from declaratory speech,” he added.

Ms. Khan is in the country for a 10-day visit that will take her to meetings with state officials, civil society groups, and human rights experts to discuss current policies and efforts to uphold the freedom of expression.

She met with Philippine Justice officials on Wednesday where they discussed the effective enforcement of laws and prosecution to safeguard members of the media.

The High Court justices also updated the UN official on the government’s implementation of Office of the Judiciary Marshals, which will manage a body that will ensure the protection of members of the Judiciary and court personnel from attacks.

Meanwhile, the Presidential Task Force on Media Security Executive Director Paul M. Gutierrez said the government and members of civil society need to work on ensuring a free and open civic space to allow transparency and accountability.

“The government remains steadfast in its efforts to foster an environment where anyone can freely express their opinion without fear,” he said during the country’s task force on media security welcome dinner for Ms. Khan on Tuesday.

VP Sara top choice for president in 2028 — poll

PNA PHOTO BY ALFRED FRIAS

By Kyle Aristophere T. Atienza, Reporter

VICE PRESIDENT Sara Duterte-Carpio is the top choice of most Filipinos for the 2028 presidential election, according to a recent poll, despite questions on the use of her secret funds and her silence on China’s incursions into maritime territories of the Philippines.

In a nationwide survey of 1,500 adults conducted by WR Numero last month, which was released late Thursday, Ms. Duterte-Carpio garnered a 36% voter preference.

She was also the top choice of Filipinos who are first-time voters (43%), likely voters (33%), non-participating registered voters (38%), and unregistered eligible voters (28%), the survey found.

Ms. Duterte-Carpio, who is also serving as Education secretary, was followed by Senator Rafael T. Tulfo at 23% and former Vice President Leni Robredo at 9%.

The list also includes Senator Maria Imelda “Imee” Marcos who garnered 7% voter preference, former senator Emmanuel “Manny” D. Pacquiao and Senator Robin C. Padilla at 5%, and Senator Ana Theresia Hontiveros-Baraquel and House Speaker Martin G. Romualdez at 1%.

The remaining 14% were undecided, WR Numero said.

House lawmakers in early October moved to strip Ms. Duterte-Carpio’s offices of 2024 confidential funds worth P650 million, after a report indicating that she spent 125 million in secret funds in December 2022. Amid the backlash, she eventually withdrew her request for such funds.

Still, the country’s second-highest official has not yet made any comment on China’s aggression within the Philippines’ exclusive economic zone in the South China Sea since taking office in June 2022.

El Niño rice damage tops P700K

REUTERS

THE EL NIÑO weather pattern has, so far, wrought damage to rice farms in Zamboanga del Norte amounting to P717,500, initial reports reaching the Department of Agriculture (DA) said.

“The damage and losses were incurred at vegetative stages of rice,” the DA’s bulletin issued on Thursday said, noting that a total of 22.3 hectares and 22 farmers were adversely affected in the region.

Earlier, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) reported that a strong El Niño is currently affecting the Philippines and projected to last until the second quarter, bringing dry spells to 63 provinces.

A strong and mature El Niño is ongoing and is expected to continue through January-February 2024. Majority of global climate models suggest that El Niño will likely persist until the March-April-May 2024 season with a transition to ENSO-neutral (El Niño-Southern Oscillation) in the April-May-June 2024,” the DA said.

Weather conditions that are classified as neither El Niño nor La Niña are considered to be an ENSO-neutral occurrence.

To mitigate further losses in crops, the DA said that it would continue to monitor weather conditions and actual ground situations.

The department will also validate vulnerable areas and identify the interventions for farmers affected.

The promotion of drought-resistant crops and crop management information was also disseminated to local producers, it added. — Adrian H. Halili

China visa center opens in Makati

CHINA’S embassy in Manila opened a new visa application center in Makati City, which it expects to grow the number of Filipinos touring China.

“This new visa center, with its perfect location, a spacious reception hall, first-class facilities, sufficient reception capacity, and a professional management team, will greatly enhance the efficiency and experience of visa processing,” Chinese Ambassador to the Philippines Huang Xillian said in his speech at the new visa center, a copy of which was sent to reporters via Viber.

He said slightly more than 200,000 Chinese nationals visited the Philippines last year.

In 2019, 1.3 million Chinese visited the Philippines, Mr. Huang said, citing Chinese government data. Globally, China has set up 100 overseas visa application centers in 52 countries.

“My embassy has worked tirelessly to improve visa processing capacity and service quality despite a shortage of personnel among other bottlenecks,” he said.

“The exchange of personnel is a crucial basis for enhancing mutual understanding, deepening cooperation in various fields such as economy, trade, and culture, and sharing development opportunities between China and the Philippines,” he added. — John Victor D. Ordoñez

Camp Abubakar dev’t plan set

COTABATO CITY — Mayors of towns around the erstwhile main enclave of the Moro Islamic Liberation Front (MILF) in Maguindanao del Norte have united to push for Malacañang’s 20-year development plan that aims to transform the area into an economic hub.

Presidential Peace Adviser Carlito G. Galvez, Jr., and Brig. Gen. Eric A. Macaambac of the Navy’s 1st Marine Brigade joined local officials and representatives of the Bangsamoro regional government in the unveiling of the Master Development Plan for Camp Abubakar (MDCA) in Barira town last Wednesday.

Parang Mayor Cahar P. Ibay, speaking on Thursday on behalf of fellow local chief executives of nine municipalities, expressed their support to “help hasten its implementation.”

He affirmed their common sentiments that the MDCA would make a positive impact on the lives of Maranaw, Iranun and Maguindanaon residents, particularly those in agricultural enclaves around Camp Abubakar.

Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Chief Minister Ahod B. Ebrahim, also chairman of the MILF’s central committee, said the regional government will partly bankroll the housing projects for Moro villagers residing around Camp Abubakar, whose center is in Barangay Tugaig, Barira.

BARMM’s Labor Minister Muslimin G. Sema, who is chairman of the Moro National Liberation Front, told reporters on Thursday that he will urge MNLF representatives in the 80-seat Bangsamoro parliament to sponsor a resolution committing support for the Camp Abubakar development plan.

Since the enclave is surrounded by the municipalities of Kapatagan and Butig in Lanao del Sur; Buldon, Barira, Matanog, Parang, Sultan Mastura and Sultan Kudarat in Maguindanao del Norte; and Pigcawayan in Cotabato, a number of mayors have grouped themselves into the Iranun Peace and Economic Council to see the MDCA through, said Mr. Ibay.

Now a “peace zone,” Camp Abubakar lies on the Lanao del Sur and Maguindanao del Norte provinces. It was established in the 1980s by MILF founder Salamat Hashim and covers over 20,000 hectares.

The MDCA aims to transform the area into an economic hub and the Marines, the Police Regional Office-Bangsamoro Autonomous Region, and the Army’s 6th Infantry Division are committed to its implementation, according to Mr. Galvez. — John Felix M. Unson

Bill on medicine vouchers filed

REUTERS

A BILL seeking to provide vouchers for the purchase of medicines has been filed before the House of Representatives with the aim of tending to the needs of poor families identified under a community-based monitoring system.

House Bill No. 9797 aims to establish the Comprehensive Medicine Voucher Program under the Department of Health (DoH) to benefit also the informal sector workers and families not covered by the National Health Insurance Program, and other vulnerable groups like indigenous people with no medical insurance or access to health services.

“The proposed measure seeks to incrementally address this long-standing problem,” Party-list Rep. Wilbert T. Lee said in a statement on Thursday.

The Philippine National Formulary, an office under the DoH, must establish an accreditation system of private pharmacies and healthcare providers to ensure that a wide range medicines are available to the public.

“A big portion of the population, particularly the marginalized and vulnerable sectors, still face challenges in accessing essential health services due to financial constraints,” Mr. Lee said in the bill’s explanatory note.

During a House committee hearing last week, lawyer Romulo B. Macalintal said senior citizens are not granted discounts when purchasing vitamins and mineral supplements as it is not included in the implementing rules and regulations (IRR) of the Expanded Senior Citizens Act of 2010 (Republic Act No. 9994).

The DoH must also pay pharmacies for the vouchers in 30 days. Pharmacies also have the option to avail the amount payable to them by the government in their gross income tax compliance if certified by the Health department.

Funds to implement the medicine voucher program will be included in the budget of the DoH, the Official Development Assistance (ODA), the National Government’s share from the income of the Philippine Amusement and Gaming Corp. (PAGCOR), as well as the Philippine Charity Sweepstakes Office’s (PCSO) mandatory contributions, charity fund, and net of documentary stamp tax payments.

Those found issuing or forging false medicine prescriptions, acting or aiding as a dummy to an unqualified beneficiary, dispensing fake medicines, and refusing to issue medicines amid the presentation of a legitimate voucher will be penalized.

“No Filipino should suffer from a disease and lose one’s life only because they are unable to pay for necessary medical care or cannot afford to buy the needed medicine for their treatment,” Mr. Lee said. — Beatriz Marie D. Cruz