Low food tariffs will help, but agri output ultimately needs to rise — Balisacan

December 28, 2023 | 8:23 pm

Balisacan-Philstar — ECONOMY SECRETARY Arsenio M. Balisacan — PHILIPPINE STAR/KRIZ JOHN ROSALES

THE extension of reduced tariffs on key food products will help mitigate inflation, but the Philippines will ultimately need to improve agricultural output, according to the National Economic and Development Authority (NEDA).

In a statement Thursday, NEDA Secretary Arsenio M. Balisacan said the Philippines should also diversify its sources of imports to ensure the sufficiency and affordability of food.

Such measures would help mitigate the inflationary impact of El Niño, the persistence of African Swine Fever (ASF), and geopolitical disruptions and as supplier countries move to restrict their food exports.

“Short-term and long-term interventions need to work together to protect the purchasing power of households and boost producer productivity and income. Doing so will ensure equitable and sustainable development,” Mr. Balisacan said.

NEDA also said these strategies include sustained investment in irrigation, flood control, logistics, and climate change adaptation.

Headline inflation slowed to 4.1% in November from 4.9% in October, marking the 20^th straight month that inflation breached the central bank’s 2-4% target range.

In the first 11 months of the year, inflation averaged 6.2%, still above the central bank’s 6% full-year forecast.

Meanwhile, the extension of the reduced Most Favored Nation (MFN) tariff rates for key agricultural commodities such as pork, corn, and rice will likely help keep food prices and overall inflation manageable, NEDA said.

“Swine fever, production shortfalls in corn, and estimated supply deficits in rice drove price increases in these commodities for this year, (but) additional meat imports played a crucial role in reducing meat inflation to -1.2% in September 2023 from 21% in 2021,” it said.

“In addition, the reduction on tariff rates had pulled down corn inflation and broadened market sources for rice, mitigating the impact of elevated inflation in September ,” NEDA added.

President Ferdinand R. Marcos, Jr. last week signed Executive Order (EO) No. 50, which extends the reduced MFN tariff rates on rice, corn, and pork until Dec. 31, 2024.

The rates for rice imports will be kept at 35% for shipments both within or over the minimum access volume (MAV) quota.

Tariff rates for fresh, chilled or frozen pork were retained at 15% for shipments within the quota and 25% for those exceeding the quotas.

Imports for corn are still to be charged 5% for shipments within MAV and 15% for those exceeding it.

The tariff rates on rice, pork, and corn are subject to review every six months, according to the EO. — Keisha B. Ta-asan

Livestock, poultry production seen falling next year

December 28, 2023 | 8:23 pm

By Adrian H. Halili, Reporter

LIVESTOCK and poultry production are expected to decline next year with imports admitted under lower tariffs discouraging producers from expanding, according to the Philippine Chamber of Food, Inc. (PCAFI).

“We have a negative growth outlook for the livestock and poultry sector next year affecting both backward linkages like corn production and forward linkages in the value chain,” PCAFI President Danilo V. Fausto said in a Viber message.

The Department of Agriculture has said that it plans to raise livestock production levels by five times in 2028.

According to the Philippine Statistics Authority, hog and goat production rose 3.3% and 0.1%, while dairy output fell 12.4%, as did that of cattle (-1.5%), and carabao (-0.3%), during the third quarter.

Mr. Fausto said that the recent extension of a lower tariff regime on imported meat will set back the livestock and poultry industry.

“Basically, imports will hurt livestock production especially now that lower import tariffs have been extended for another year,” Mr. Fausto said.

Executive Order 50 extended the lowered Most Favored Nation tariff rates on rice, corn, and pork until Dec. 31, 2024.

The rates on pork meat, whether fresh, chilled, or frozen were kept at 15% for imports within the minimum access volume (MAV) quota and 25% for those exceeding the quota.

Tariff rates for rice imports remained at 35% regardless of their source country or volume.

Corn shipments, on the other hand, were kept at 5% for shipments within the MAV quota and 15% for those exceeding the quota.

“Our livestock producers will find it difficult to compete with imported meat and poultry products which are highly subsidized by exporting countries,” Mr. Fausto added.

As of October, meat imports amounted to 1.02-billion kilograms, according to the Bureau of Animal Industry (BAI).

The BAI reported that Brazil was the top supplier, accounting for 343.86 million kg. This was followed by the US and Spain with 179.64-million kg and 123.36-million kg, respectively.

Meat Importers and Traders Association President Jesus C. Cham said that lower costs for acquiring meat could potentially lower retail prices.

“A lower-cost environment will always provide a better cushion against price increases. This will benefit consumers,” Mr. Cham said in a Viber message.

National ID registrations running 10% below target

December 28, 2023 | 8:23 pm

THE Philippine Statistics Authority (PSA) said the sign-up numbers for the national ID, also known as the Philippine Identification System (PhilSys) are 10% below the target of 92 million for 2023.

“As of Dec. 18, 82,812,899 Filipinos are PhilSys-registered,” the PSA said in a statement Thursday.

“We extend our heartfelt gratitude to the public for their steadfast support for the implementation of PhilSys,” Undersecretary, National Statistician, and Civil Registrar-General Claire Dennis S. Mapa said.

“We, at the PSA and our field offices, are exerting all efforts to ensure coverage of Filipinos who have not yet registered,” he added.

Mr. Mapa said the PSA will strive to bring PhilSys registration teams to every community.

“Registration with PhilSys remains easy and convenient. Filipinos can go to any registration center and bring their supporting documents. No pre-registration required,” the PSA added.

The PSA is also working to speed up the printing and delivery of physical ID cards, known as PhilIDs, to serve as valid proof of identity and age in all transactions.

As of Dec. 8, the Bangko Sentral ng Pilipinas has sent out for delivery 48,770,513 PhilIDs.

Of these, 44,803,320 have been delivered by the Philippine Postal Corp.

“In addition, 44,142,431 ePhilIDs, both printed and downloaded, have been issued,” it added, referring to the temporary paper IDs issued shortly after registration prior to receipt of the card ID. — Aaron Michael C. Sy

PEZA cites ease of doing business as critical in attracting investment

December 28, 2023 | 8:20 pm

THE PHILIPPINE Economic Zone Authority (PEZA) said ease of doing business considerations are a major factor when locators pick their global manufacturing hubs.

“This is a big deal especially for those who invest (when) they make in their choice of which country they will build their manufacturing export facility in,” PEZA Director General Tereso O. Panga said in a statement.

Mr. Panga also called for investment promotion agencies to be given more legal authority to attract investment on their own, and for the restrictions to be loosened on the establishment of new ecozones.

“(Our) immediate objective is to further strengthen the ease of doing business in accordance with the (executive order) 18 directive of the President to provide “green lanes” for investors especially in the production of exports, most of which are located within the ecozones,” he added.

EO 18 called for green lanes to expedite, streamline, and automate government processes in the case of strategic investments.

Meanwhile, Mr. Panga described the amendment of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) law as a top priority.

“(This would) further strengthen financial incentives and the ability of investment promotion agencies such as PEZA to implement policies to attract more foreign investors,” he added.

Earlier, the Departments of Finance and Trade and Industry approved an amendment to the CREATE law, allowing transitory domestic market enterprises availing of the 5% gross income tax scheme to register as VAT taxpayers.

The House Ways and Means Committee had approved the CREATE MORE (CREATE to Maximize Opportunities for Reinvigorating the Economy) bill, which aims to improve the VAT refund system and authorize the President to grant incentive packages without going through the Fiscal Incentives Review Board.

PEZA has set a target of P250 billion in approved investments next year. — Adrian H. Halili

Measure proposes reduced taxes for parents of children with special needs

December 28, 2023 | 8:20 pm

A BILL seeking to grant tax cuts to parents of children with special needs has been filed at the House of Representatives.

The proposed law seeks to “alleviate the financial strain that many families with special needs children face daily and to encourage them to continue providing the necessary care and support to these children, thus promoting their overall well-being and development,” Muntinlupa City Representative Jaime R. Fresnedi said in House Bill No. 9690.

“A solo parent, and for spouses, the parent who has a higher income, shall be entitled to a 1% deduction in income tax upon submission of receipts on expenses incurred in caring for a child with special needs,” according to a copy of the bill.

“We envision giving a financial lifeline to these caregivers through income tax deductions due to expenses incurred in caring for children with special needs,” he added.

Expenses that may be deducted against tax include tuition, therapy, diagnostic evaluations, tutoring, transportation to school or a medical facility, and specialized instructional materials.

A child with a disability can cost parents 80% more than normal, UNICEF said in a 2022 report. It also said that poverty rates are 50% higher in households that include children with disabilities.

There are about 1.6-million children with disabilities in the Philippine, according to UNICEF.

“This demographic is often underserved and marginalized, struggling to access the appropriate education, medical care, and support systems that can make a significant difference in their lives,” Mr. Fresnedi added.

Under the measure, the Health, Education, and Social Welfare departments will be directed to create a financial assistance package for children with special needs.

The bill is currently with the House committee on ways and means.

The Special Needs Education Program under the Education department’s Program Support Budget has a total funding of P6.4 billion for next year. — Beatriz Marie D. Cruz

Power distributors with unapproved PSAs barred from passing on costs, ERC says

December 28, 2023 | 8:19 pm

THE Energy Regulatory Commission (ERC) said it will not allow power distributors to recover costs from consumers if they have failed to file or win approval for their power supply agreements (PSAs).

The cost recovery rules are among the revised guidelines governing the conduct of competitive selection processes (CSP).

Maria Corazon C. Gines, ERC legal service director, said in a briefing Thursday that the commission has come across situations of distribution utilities (DU) and generation companies seeking to pass on costs even with unapproved PSAs.

“In order to dissuade this kind of practice, this is now policy… that if it has not been filed with the ERC, even though you have recovered, you do not have anything to pass through to the consumers,” she said.

Under Resolution No. 16, series of 2009, a some costs can be passed through to the consumers such as the National Power Corp.-Time-of-Use (NPC-ToU) rates.

“In the case of ineligible supply contracts, generation costs from such contracts shall include the kilowatt-hours pertaining to ineligible contracts pegged at the DU’s load weighted average NPC ToU rates or the actual rate as billed by the IPP (independent power producer), whichever is lower,” according to the resolution.

“We previously considered those contracts as ineligible, but then, we recognized that there is still cost and there should still be a certain recovery on the part of the generation companies,” Ms. Gines said.

The ERC issued the revised CSP on Oct. 6, outlining the rules governing the procurement, execution, and evaluation of PSAs entered into by DUs for the supply of electricity to their captive market. — Sheldeen Joy Talavera

Teeners Quizon, Arca stay in title hunt in ‘Battle of Grandmasters’

December 28, 2023 | 7:22 pm

TEENAGE sensations Daniel Quizon and Christian Gian Karlo Arca delivered the worthiest performances of the day to stay in the title hunt in the Philippine National Chess Championships dubbed “The Battle of Grandmasters” at the Marikina Community Convention Center.

Mr. Quizon, a 19-year-old International Master (IM), brought down many-time national champion Grandmaster (GM) Joey Antonio to seize the joint lead with IM Jem Garcia, who dismantled Vince Angelo Medina, on pristine scores of two points.

Mr. Arca, a 14-year-old FIDE Master, for his part, bared his true fangs as he turned back battle-tested IM Barlo Nadera and leapfrogged to a five-way logjam at third with 1.5 points.

That chase group included Janelle Mae Frayna, the country’s first and only Woman GM who stunned nemesis GM Darwin Laylo in Wednesday’s opener and drew with FM Mark Jay Bacojo in the second.

Both Messrs. Quizon and Arca, who just last month captured the blitz gold in the World Youth Championship in Italy, are seeking to claim one of the three slots to the World Chess Olympiad slated from Sept. 10 to 23 in Budapest, Hungary.

Mr. Quizon played once in the Olympiad when it was still done online during the pandemic but never over-the-board in the biennial meet.

This one could be his first.

Part of that hungry chase pack of wolves were Mark Jay Bacojo, who split the point with Ms. Frayna, Jerish John Velarde, who trounced WIM Antoinette Marie San Diego, and GM John Paul Gomez, who bested Samson Chiu Chin Lim III.

Mr. Laylo came roaring back to title race from a stinging opening day setback with a smashing win over IM Paulo Bersamina.

Aside from Olympiad seats, the winner of this 14-player, 13-round meet presented by Marikina City Congresswoman Maan Teodoro and Mayor Marcy Teodoro and backed NCFP Chairman President Prospero Pichay, Jr., POC President Abraham Tolentino, Philippine Sports Commission Chair Richard Bachmann, the Eugene Torre Chess Foundation, Pande and Amerikana’s Jundio Salvador pockets the P120,000 top purse. — Joey Villar

Kai Sotto on loan transfer to Yokohama B-Corsairs

December 28, 2023 | 7:22 pm

KAI SOTTO is off to a new team in the Japan B. League.

Through a loan transfer from his former club Hiroshima Dragonflies, the 7-foot-3 Filipino sensation will now play for the Yokohama B-Corsairs according to the team’s official announcement on Thursday.

Mr. Sotto’s transfer period is effective until the end of the ongoing 2023-2024 B. League season.

The 21-year-old cager signed a one-year extension with the Dragonflies this season prior to his loan transfer nearing the halfway mark of the tournament.

Hiroshima, his former squad, currently sits at 17^th place with an 11-13 slate while Yokohama is at 19^th with a 10-14 mark.

The B-Corsairs are expecting Mr. Sotto’s contribution to turn their fortunes around for a rejigged playoff push with still a bevy of games left in the regular season.

“In order to reach this goal, we have decided to make changes to our roster. Kai Sotto is a very promising young player (with height) and a shooting touch,” said General Manager Ken Takeda.

“We have high expectations for him, not only as an inside defense and rebounder but also as a new option on offense. I believe that with the addition of Sotto, the team will gain even more energy and accelerate into the mid-game and second-half games.”

Mr. Sotto vowed to make his presence felt for Yokohama after recovering from a back injury that sidelined him for Hiroshima early in the season.

“I’m very blessed to be given this opportunity and I will make the most out of it. I’m very excited to play for the city of Yokohama. I can’t wait to win more games and get better as a player,” said Sotto, who is expected to debut on Dec. 30 against the fifth-running Mikawa squad with a 16-8 slate.

Mr. Sotto, who also had a stint with the Adelaide 36ers in his pro career before jumping to Japan, is coming off a solid campaign with Gilas Pilipinas in the FIBA World Cup here in Manila.

He already completed his transfer papers but will still have to wait for the approval of his application from the Migrant Workers Office, an office operated by the Philippine government to protect and support the welfare of Filipino workers and their families working in Japan, before playing. — John Bryan Ulanday

Milwaukee Bucks sail to victory over short-handed Brooklyn Nets

December 28, 2023 | 7:22 pm

GIANNIS Antetokounmpo scored 32 points and to lead seven Milwaukee players in double figures as the Bucks pulled away in the fourth quarter for a 144-122 victory over the short-handed Brooklyn Nets on Wednesday in New York.

Mr. Antetokounmpo dominated inside and made 10 of 12 shots to help Milwaukee reach 140 points for the fifth time this season. He also grabbed 10 rebounds and had eight assists as the Bucks won for the eighth time in nine games.

Khris Middleton added a season-high 27 for Milwaukee. He put up at least 20 points for the third straight game and the fifth time this season as his minutes continue to increase following offseason knee surgery. In 32 minutes, he shot 11-for-18 and also handed out a season-best 10 of Milwaukee’s season-high 41 assists.

Cameron Payne added 18 and Malik Beasley added 17 after going scoreless in the Bucks’ Monday loss to the New York Knicks. The duo hit five 3-pointers apiece as Milwaukee sank 23 treys to tie a season best.

Bobby Portis contributed 14, Damian Lillard chipped in 12 and MarJon Beauchamp had 11 for the Bucks, who shot 58.4 percent from the floor.

After struggling to get a six-point win Tuesday in Detroit, Brooklyn sat Cameron Johnson (knee injury maintenance), Nic Claxton (ankle injury maintenance), Spencer Dinwiddie (rest) and Dorian Finney-Smith (left knee soreness). Starters Mikal Bridges, Royce O’Neale and Cam Thomas also sat for the final three quarters after combining for 17 points.

Rookie Jalen Wilson led Brooklyn with career highs of 21 points and 10 rebounds, but the Nets lost for the sixth time in eight games. Trendon Watford added 17 points and Dennis Smith, Jr. contributed 14 for the Nets, who shot 44.6 percent and misfired on 25 of 32 3-point tries.

The first quarter produced 12 lead changes but the Bucks sank seven treys and held a 32-31 lead. Mr. Middleton scored 10 points in the second, and

Milwaukee took a 66-59 lead on Beasley’s 3-pointer right before the halftime buzzer.

Brooklyn grabbed a 79-78 edge on a 3-pointer by Keon Johnson with 5:21 remaining in the third. The Nets trailed 88-86 before the Bucks ended the period with a 14-6 spurt and took an eight-point lead on Payne’s trey with 15.4 seconds left.

Middleton’s off-balance 3-pointer and Beauchamp’s one-handed dunk pushed the lead to 107-94 early in the fourth. Milwaukee extended the margin to 123-108 on Payne’s triple with 5:53 left and clinched the win nearly two minutes later on an Antetokounmpo dunk. — Reuters

Seoul SK survives late Meralco Bolts rally, 81-80, in EASL

December 28, 2023 | 7:22 pm

THIS TIME, Meralco ran out of power to complete an epic comeback victory in the East Asia Super League (EASL).

The Bolts fought back from 12 points down but botched the potential last-gasp go-ahead to allow Seoul SK to escape, 81-80, in their first home game at the PhilSports Arena Wednesday night.

The charges of Luigi Trillo fell to 1-3 in Group B after falling short of their bid to duplicate their breakthrough 97-88 overtime come-from-behind win over Ryukyu Golden Kings in Macau two weeks ago.

The result put Meralco Bolts’ Final Four bid in jeopardy with two games left in group play.

Zach Lofton fired 11 of his 32 points in the payoff period as Meralco threatened to steal it from the Korean club after trailing most of the way.

But unlike in the previous duel with Ryukyu, the Bolts didn’t execute their final offensive perfectly in the dying seconds. Down by one with six ticks left, Chris Banchero drove to the baseline and dished it out to Prince Ibeh inside but it was broken up by KBL Most Valuable Player Kim Sun Hyung, who dribbled the other way en route to the Knights’ second W in four starts.

Mr. Ibeh shot 13 with 11 rebounds while Chris Newsome, hero of their breakthrough in Macau, also had 13 in backing up Mr. Lofton.

Knights import Jameel Warney banged in 31 as Young Jun An fired 19 spiked by five triples for the victorious visitors.

“It’s crazy man. You saw that last five minutes, it was really exciting, really crazy. We’re glad we’re out with a win because it really got a little hectic,” said Mr. Warney.

“A win is a win. We just got here yesterday (Tuesday) after playing on Christmas. So we’re tired. Our legs are tired. We have a flight tonight. We have another game on December 30^th. We have a lot of games right now so we’re just happy to get a win no matter if it’s an ugly win or a beautiful win. We just want to win games.” — Olmin Leyba

The Scores:

Seoul SK 81 — Warney 31, Young Jun 19, Williams 7, Sun Hyung 7, Jae Hyun 6, Gomez de Liaño 4, Won Hyuk 3, Chang Yong 2, Buk Yong 2, Woo Sub 0, Geonu 0, Sekeun 0.

Meralco 80 — Lofton 32, Ibeh 13, Newsome 13, Hodge 8, Black 6, Banchero 5, Bates 2, Quinto 1, Mendoza 0, Almazan 0, Rio 0, Torres 0.

Quarterscores: 20-20, 45-33, 64-56, 81-80.

Saudi Arabia ready to play long game to realize dream

December 28, 2023 | 7:22 pm

LONDON — A seismic year for soccer in Saudi Arabia witnessed the turbo-charging of its domestic league with expensive foreign superstars, an audacious bid to host the 2034 World Cup and the staging of FIFA’s inter-continental club tournament.

And 2024 will only be a few weeks old before Lionel Messi and Cristiano Ronaldo renew their iconic rivalry in Riyadh.

Argentina’s World Cup winning talisman Mr. Messi did not join the exodus to Saudi Arabia’s Pro League (SPL) this year, but his Inter Miami team will face Al-Nassr, Mr. Ronaldo’s club, in the so-called Riyadh Season Cup on Feb. 1.

That match lacks the gravitas of the 35 previous clashes between the two soccer icons. But it will once again thrust Saudi Arabia into the spotlight as the kingdom expands a sport portfolio already bulging with LIV Golf, boxing, tennis and F1.

When Saudi Arabia’s Public Investment Fund (PIF) bought Premier League club Newcastle United in 2021 after a protracted process accompanied by cries of ‘sports washing’, it underlined the country’s intent to follow the lead of the United Arab Emirates and Qatar — its smaller neighbors who have bank-rolled some of Europe’s biggest soccer clubs.

But Saudi Arabia wants to go further as part of its Vision 2030 project aimed at diversifying the kingdom’s economy and glossing the country’s global image.

Developing a domestic soccer league that can become one of the top-10 in world soccer is crucial and no expense is being spared in trying to make that a reality.

PIF took control of four of Saudi Arabia’s biggest clubs in June — Al-Nassr, Al-Ittihad, Al-Ahli and Al-Hilal — then spent huge amounts recruiting the likes of Neymar, Karim Benzema, Riyad Mahrez, Sadio Mane and N’Golo Kante, to name a few.

Around one billion dollars of talent arrived in a head-spinning summer and as the January window opens, fans of top clubs in Europe might well wonder who is next.

Cynics might say such rapid growth from a low-profile regional league to one capable of disrupting soccer’s old order is doomed to failure, pointing to the Chinese Super League that sparkled briefly before fizzling out. — Reuters

Vikings, GB Packers paired in virtual playoff elimination game

December 28, 2023 | 7:21 pm

LONGTIME rivals lock up fighting for a playoff spot and more when the Minnesota Vikings welcome the Green Bay (GB) Packers on Sunday night in Minneapolis.

Minnesota (7-8) and Green Bay (7-8) have endured up-and-down seasons and tumult at quarterback. The NFC North division title is out of reach after the Detroit Lions clinched it last week. Yet a wild-card playoff berth remains possible barring a loss Sunday.

The Vikings would boost their playoff chances to 49 percent with a win this weekend, according to playoff probability metrics. A loss? The playoff chances for the Vikings plummet to 4 percent.

The gap is even greater for Green Bay, which would boost its playoff chances to 55 percent with a win and see its chances crater to 1 percent with a loss.

Packers quarterback Jordan Love said players are embracing the stakes in what is shaping up to be a virtual playoff-elimination game.

The Packers are coming off a 33-30 road win against the Carolina Panthers in Week 16 courtesy of a last-second field goal. Mr. Love threw for two touchdowns and ran for another one in the victory. — Reuters