Home Blog Page 412

Disney raises admission prices for its theme parks during key holidays

DISNEY said on Wednesday it will raise prices for certain tickets to its theme parks in the US during key holidays such as Thanksgiving week and New Year’s Eve.

Prices for one-day tickets to Walt Disney World Resort in Orlando, Florida, will exceed the current $199 top price point, beginning with the holidays in 2026, the company said in a statement to Reuters.

The starting and high-end price for tickets on sale through to October next year will remain unchanged.

Out of the seven ticket tiers at the Disneyland Resort in Anaheim, California, five will see price hikes of 3% or less, the lowest increase in several years. The lowest-priced ticket will remain unchanged at $104.

Currently, the cost of entry to Disneyland for the week of Thanksgiving — from Nov. 24 to 29 — as well as for the Christmas and New Year’s week is $224, according to its website.

“Our commitment to creating magical experiences for everyone remains at the heart of what we do — and that will never change,” Disney officials said in the statement. — Reuters

Independent directors: guardrails, not decoration

Independent directors exist to do one simple but vital job: act as honest, informed watchdogs for shareholders and the public. Their legal and fiduciary responsibilities include overseeing management, ensuring reliable financial reporting, safeguarding minority-shareholder interests, approving related-party transactions only when fair, supervising risk and compliance frameworks, and serving on — often chairing — critical committees such as audit, governance and risk. Corporate-governance codes and stock-exchange rules  define an “independent” director as someone free from relationships that would materially impair independent judgment.

That is why announcements by Securities and Exchange Commission (SEC) Chair Atty. Francis Lim about tightening the rules for independent directors are more than housekeeping. The proposals being discussed — security of tenure (fixed three-year elections within an overall nine-year cap), stricter enforcement of the nine-year cumulative limit, and clearer restrictions on exemptions — seek to protect the independence that the role promises.

Under the current practice, annual re-election and routine extensions can create dependency: an independent director who repeatedly seeks the board’s approval to keep the seat may be less willing to challenge management. The SEC’s move to give independent directors a firmer predictable term and to remove easy workarounds for extensions aims to reduce that pressure and allow directors to speak up without fear of immediate replacement.

How does that translate into better outcomes? First, a secure term reduces the “reappointment incentive” that muzzles oversight. Second, a strict nine-year cap prevents entrenched ties between directors and controlling shareholders or management that can accumulate over decades. Third, codifying selection and qualification standards, and enforcing them, raises the signal that independence is substantive, not merely a box to tick. These reforms therefore strengthen three pillars of good governance: transparency, accountability and responsibility.

The stakes are not abstract. Global scandals show what happens when boards — especially their independent members — do not perform their watchdog role. The Enron collapse demonstrated a board that failed to stop high-risk, opaque accounting practices despite red flags; the US Senate investigation concluded the board “failed to safeguard shareholders” and precipitated stricter oversight rules like Sarbanes-Oxley. In Malaysia, the 1MDB affair highlighted how boards and advisors can be bypassed or compromised, allowing massive misappropriation and weak controls to persist. These are stark reminders that weak board oversight translates directly into investor losses and systemic damage.

The Philippines has its own governance research that points to the problem of “gray” or nominally independent directors — people labeled independent but connected in ways that undermine their impartiality. Academic studies and local analyses have documented cases where independent directors lacked the expertise, incentives, or genuine autonomy to challenge dominant shareholders or complex transactions, weakening the board’s role as a check on management. Strengthening tenure rules therefore addresses a recurring structural vulnerability.

What more can be done? In order to build a resilient board culture, the SEC should borrow tested best practices from other markets:

• Majority and committee muscle. Encourage a meaningful presence of independent directors — ideally a majority or at least key committee majorities — and require independent chairs for audit and nomination committees. The CFA Institute and regional governance codes argue that committee leadership by independent directors ensures critical oversight is insulated from management influence.

• Independent chair or separation of roles. Split the CEO and board-chair roles or ensure the chair is independent. This reduces the concentration of power in management. Singapore’s governance code and other jurisdictions emphasize this separation to protect objective oversight.

• Transparent, merit-based nomination and disclosure. Mandate rigorous nomination processes, publish why a nominee qualifies as independent, and require robust disclosure of relationships and related-party dealings. Proxy advisors and institutional investors rely on such transparency to hold boards accountable.

• Mandatory director training and fit-and-proper checks. Require ongoing education on accounting, risk, ESG and fiduciary duties so independent directors can properly scrutinize complex transactions and risks.

• Rotation and audit safeguards. Rotate lead audit partners, strengthen whistleblower protections and give audit committees real powers to hire external advisors at the company’s expense — so independent directors don’t depend on management for specialist expertise.

• Independent remuneration and protection of tenure. Set director pay independently and enshrine protections against arbitrary removal — security of tenure must be matched by safeguards so directors who dissent aren’t immediately penalized.

None of these measures are silver bullets. Boards operate in social and political contexts where controlling shareholders, economic concentration, and culture matter. But law and regulation shape incentives. By making independence real — through fixed terms that reduce reappointment pressure, hard cumulative caps, stronger committee rules, and international best practices — the SEC’s proposals move the Philippines in the right direction: toward boards that ask tough questions, demand clear answers, and act as genuine guardians of shareholder and public interest.

Good governance is costly only to the corrupt; for honest corporations and investors it is the cheapest insurance of all. The system must ensure that independent directors provide unbiased oversight, promote transparency and uphold ethical standards within management.

The views expressed herein are his own and do not necessarily reflect the opinion of his office as well as FINEX.

 

Benel Dela Paz Lagua was previously EVP and chief development officer at the Development Bank of the Philippines. He is an active FINEX member and an advocate of risk-based lending for SMEs.  Today, he is independent director in progressive banks and in some NGOs.

Film aims to show how King Charles’ once-mocked views on nature became mainstream

KINGS-FOUNDATION.ORG

LONDON — Britain’s King Charles has said he was considered “rather dotty” for voicing concern about damage to the environment in the past. An upcoming documentary film aims to chart the spread of views once seen as eccentric, and bring them to new audiences.

The 76-year-old monarch first spoke of the dangers of “indestructible plastic containers” and the pollution from “endless cars and airplanes” in the early 1970s, well before protecting the planet became a mainstream topic.

“Remarkably few people around the world know the full depth of The King’s lifelong battle to bring nature and humanity into harmony,” the film’s director Nicolas Brown said in a statement.

Finding Harmony: A King’s Vision will explore the history of Charles’ belief that nature is at the core of human wellbeing and emphasize the urgent need to protect it. The film is due to be released early next year, a counterweight to scepticism about environmental issues voiced by US President Donald J. Trump.

The film will feature Charles’ projects at his Highgrove residence and Dumfries House — part of his charity, The King’s Foundation — and further afield in India and Guyana.

“Nature is our sustainer — we are a part of Nature. Therefore, what we do to her, we do to ourselves,” Charles said in the statement from the charity.

His environmental campaigning has already inspired both his sons. Heir to the throne Prince William set up the Earthshot charity, which offers multi-million pound prizes to help fund environmental technologies, while his younger son Prince Harry champions conservation and wildlife causes.

The film will be available on Amazon’s Prime Video, marking the latest move by the royal family to embrace global media platforms. Earlier in October, William appeared on an Apple TV show, while Harry, who is no longer a working royal, has a contract with Netflix. — Reuters

Community relations: Turning goodwill into good business

We’d like to jumpstart our community relations program which was put on hold when its manager resigned. How do we make it profitable for us? Please advise. — Foxy Roxy.

Community relations are not a stand-alone program. They must be organized and managed under the umbrella of Corporate Social Responsibility (CSR), which many conceive of as simply handing out packed rice, noodles, and canned sardines while posing for photos.

Unfortunately, many companies forget one essential truth: a community relations program isn’t about charity per se. It’s about strategy.

If done right, it doesn’t just polish a company’s image; it fuels sustainable growth, builds resilience, and secures what every organization ultimately needs — a good public image and a social license to operate a decent business.

TRANSFORMING GOODWILL
When businesses see the community not as a cost center but as a strategic partner, the benefits are mutual. Strong relationships create trust, attract talent, and open doors to new opportunities. A thriving community often mirrors a thriving company. Here’s how smart leaders transform goodwill into good business — and reputation into resilience:

One, align community projects with core business goals. The first rule of a successful community relations program is simple: stay relevant. Companies must align social initiatives with what they actually do best.

For instance, a pharmaceutical firm sponsoring medical missions makes sense. But not an oil company sponsoring a beauty contest or fashion show.

Two, engage, but don’t dictate what you want. Too often, companies “drop” projects into communities without asking what people actually need. The smarter move is to first consult community elders and leaders before doing anything.

Consulting the residents not only reveals what’s truly valuable. It builds trust. In a mining town, a company learned that locals didn’t want a new basketball court. Instead, they wanted clean, potable water.

Three, invest in long-term partnerships. This avoids “CSR fatigue.” Communities grow wary when companies show up once a year with a photo-op and a tarpaulin. The real magic happens with consistent, long-term engagement.

Major companies partner with schools, cooperatives, and local governments to sustain projects for years — improving lives, skills, and livelihoods.

Four, empower local talent. The smartest approach is not giving — but enabling. Hiring and training local residents does more than fill job openings. They create advocates for your brand.

When people see neighbors employed by your firm, the perception shifts from “outsider” to “partner.” Local employment builds economic resilience and reduces social tension. Plus, it saves the company recruitment and relocation costs.

Five, measure impact in social and business benefits. Companies measure profit margins to the decimal point, but often treat CSR impact as vague. Smart firms quantify both social outcomes and business benefits.

Track indicators like school attendance rates, livelihood incomes, or reductions in community complaints, even for petty crime. Pair those with metrics like employee retention, brand perception, and stakeholder support. Then communicate the results honestly with management.

Six, leverage employee volunteerism. When workers contribute time and talent, projects gain passion and purpose. It’s also good internal marketing — employees feel proud to belong to a company that walks the talk.

Smart human resource (HR) leaders even recognize volunteer hours as part of leadership development. In short, doing good becomes a two-way classroom: the community learns and employees grow.

Seven, use community relations as a risk management tool. This one rarely makes the glossy CSR brochures, but it’s crucial. Strong community relations are insurance against crises.

When you build trust long before trouble comes, you don’t need to scramble for support during a labor dispute or other issues. Communities that feel respected are more likely to defend your reputation than attack it.

Eight, reconcile projects with sustainability goals. Environmental stewardship is not optional — it’s a requirement. Integrating community relations with sustainability creates milestones in co-ownership among various stakeholders.

Think of waste management drives that support local recycling livelihoods, or tree-planting projects that involve nearby schools. These efforts hit both social and environmental targets, strengthening your environmental, social, and governance goals profile in one sweep.

Nine, share authentic success stories. Forget the slick corporate videos with swelling background music and executives in hard hats. What people want are trustworthy stories, not logos.

Feature the story of real beneficiaries, honest challenges, and tangible results. When your narrative feels human, your brand feels trustworthy. In the digital age, sincerity is the new sophistication.

Ten, review, adapt, adjust, and evolve. Communities change — demographics shift, industries evolve, and local issues emerge. Smart companies refresh their community strategies regularly. Conduct periodic social audits, update priorities, and pivot where needed. Static programs become stale fast; responsive ones stay relevant and respected.

Therefore, community relations should never be an afterthought scribbled under “CSR Budget.” It’s a strategic function that blends empathy with economics. The old thinking was: “Help the community because it’s the right thing to do.” The new thinking should be: “Help the community because it’s the smart thing to do.”

 

Participate in Rey Elbo’s Nov. 14, 2025 public seminar on “Smart Strategies for Dealing with Difficult Workers.” E-mail elbonomics@gmail.com or https://reyelbo.com/contact-us

How PSEi member stocks performed — October 9, 2025

Here’s a quick glance at how PSEi stocks fared on Thursday, October 9, 2025.


Philippines Still at a ‘Moderate’ Hunger Level

The Philippines ranked 66th out of 123 countries assessed in the 2025 Global Hunger Index (GHI) by Concern Worldwide, Welthungerhilfe, and Institute for International Law of Peace and Armed Conflict. With a score of 13.4 out of 100, the country is still classified with a “moderate” level of hunger, better than the global score of 18.3 but trails behind the regional score of 8.2. The GHI measures and tracks hunger under four indicators: undernourishment, child stunting, child wasting, and child mortality.

Philippines Still at a ‘Moderate’ Hunger Level

Public Works department flags 421 ‘ghost’ projects after nationwide audit

PHILIPPINE STAR/RYAN BALDEMOR

THE GOVERNMENT has found 421 “ghost” infrastructure projects across the Philippines after validating about 8,000 public works, the Department of Public Works and Highways (DPWH) said on Thursday, marking one of the biggest corruption red flags uncovered under the Marcos administration.

“Out of the 8,000 projects validated nationwide, 421 were confirmed as ghost projects,” Public Works Secretary Vivencio B. Dizon told a livestreamed news briefing. The projects were validated by the Armed Forces of the Philippines, Department of National Defense and Department of Economy, Planning and Development.

The findings are part of an expanding probe into irregularities in flood control projects, which have drawn scrutiny from the Independent Commission for Infrastructure (ICI). The DPWH is working with the ICI, military and police to trace possible fund diversions and determine accountability.

ICI Executive Director Brian Keith F. Hosaka said the commission is reviewing procurement thresholds to curb public fund misuse.

“At present, the district level has a P150-million limit for civil works procurement, while the regional level holds a P400-million threshold,” he told the same briefing. “The ICI’s suggestion is to split these limits in half so we can better control DPWH civil works procurement.”

The audit and review come as the Marcos administration intensifies its anti-graft campaign following public outrage over fake infrastructure projects allegedly funded through congressional insertions.

Mr. Dizon said both agencies would tighten validation systems to prevent ghost projects from being approved or paid in future budgets.

Meanwhile, Senator Sherwin T. Gatchalian said he favors abolishing the DPWH and replacing it with an infrastructure agency, citing the lengthy process required to reform the existing department.

In a news briefing, the lawmaker said the government should consider overhauling the DPWH, including the dismissal of all its officials, to eliminate corruption in the agency.

“It’s not just limited to Bulacan — it’s happening across the entire Philippines,” he said in Filipino, referring to bogus flood control deals in the central Luzon province. “That means there are corrupt DPWH officials nationwide. How do you clean that up?”

The DPWH is seeking tougher enforcement and harsher penalties for erring contractors, Mr. Dizon told reporters earlier this week.

“We need to be stricter and impose heavier penalties for blacklisting, because things are still too lenient,” he said on the sidelines of an event. “We have to make it as stringent as, if not more stringent, than the World Bank and Asian Development Bank (ADB).”

The World Bank and ADB have an agreement to jointly blacklist contractors involved in fraud or corruption across their projects. In the Philippines, the Department of Budget and Management earlier warned that contractors, suppliers and consultants repeatedly violating procurement rules could face lifetime blacklisting under the proposed New Government Procurement Act.

The Court of Appeals earlier froze another batch of bank accounts linked to the flood control scandal, raising the total value of restrained assets to P4.4 billion, the Anti-Money Laundering Council said on Wednesday.

The latest freeze order covers 12 more bank accounts connected to persons of interest, including an entity whose license was allegedly used for “ghost” infrastructure projects, the council said in a statement. It did not identify the account holders.

In the past month, the appellate court issued five separate freeze orders covering 1,632 bank accounts, 54 insurance policies, 163 vehicles, 40 properties and 12 e-wallets tied to the scheme. Each order takes effect immediately for 20 days and may be extended by up to six months.

President Ferdinand R. Marcos, Jr. earlier said corruption cases tied to infrastructure spending must be backed by solid evidence, warning that weak filings could lead to failed prosecutions.

“We have to follow the law, otherwise whatever we do is not legitimate,” he said in a podcast released by the Presidential Communications Office on Sunday. “We know many of these people are not innocent. But if you’re going to bring them to court, you must have a very strong case.”

He said incomplete evidence could result in dismissals, which he described as “much, much, much worse.”

The DPWH is under mounting scrutiny over multibillion-peso anomalies in flood control projects, where state funds were allegedly siphoned off by contractors and officials. — Erika Mae P. Sinaking and A.R.A. Inosante

Philippines resupplies fishers near disputed South China Sea shoals

ONE of the seven China Coast Guard ships monitored by the Philippine Coast Guard during the resupply mission. — PCG

THE Philippine Coast Guard (PCG) and Bureau of Fisheries and Aquatic Resources (BFAR) resupplied Filipino fishermen operating near disputed maritime features in the South China Sea on Wednesday, defying heightened Chinese presence in the contested waters.

In a statement on Wednesday evening, the coast guard said it had delivered thousands of liters worth of fuel, tons of crushed ice and hundreds of food packs to fishermen off Scarborough and Sabina shoals, despite what it described as “aggressive actions” by Chinese vessels.

“This operation… underscores the government’s commitment to safeguarding the livelihoods of Filipino fishermen and asserting maritime jurisdiction,” it said.

The Chinese Embassy in Manila did not immediately reply to a Viber message seeking comment.

The Philippine government earlier this year launched a program aimed at sustaining the presence of Filipino fishers near contested areas in the country’s western seaboard that have become flashpoints amid China’s increasingly assertive claims over the South China Sea.

Beijing claims nearly all of the South China Sea via a U-shaped, 1940s nine-dash line map that overlaps with the exclusive waters of the Philippines and neighbors like Vietnam and Malaysia despite a 2016 ruling by the Permanent Court of Arbitration in The Hague that voided its claims.

Access to Scarborough Shoal has been restricted for Filipinos after China seized control of the atoll in 2012 following a standoff with Philippines forces. It is a vast fishing lagoon that lies within the Philippines’ 200-nautical-mile (370 kilometers) exclusive economic zone.

Manila and Beijing have repeatedly clashed over contested maritime features in the resource-rich waterway, with confrontations involving water cannon blasts and sideswipes by Chinese vessels resulting in injuries to Filipino crew members.

Philippine Coast Guard said it deployed the 96.6-meter BRP Teresa Magbanua, its biggest multi-role ship, and the 44-meter patrol ship BRP Cape San Agustin to Scarborough Shoal to support six BFAR vessels that distributed aid to Filipino fishing boats.

Manila’s coast guard said it monitored seven China Coast Guard ships and 10 Chinese militia vessels in the disputed feature, with a Chinese Navy ship issuing a radio warning of a live-five exercise near the Philippine resupply point.

“Despite the intimidation tactics, the… teams continued their mission, successfully delivering over 50,000 liters of fuel to approximately 55 boats,” it said. 

Philippine authorities also distributed about 48,000 liters of fuel to more than 35 fishing boats at Sabina Shoal within the heavily contested Spratly Islands, which are claimed by Taiwan and Vietnam aside from China.

The PCG deployed its second 96.6-meter multi-role ship BRP Melchora Aquino and the 44-meter patrol ship BRP Cabra to Sabina, where it accused a Chinese military helicopter of intimidating the Filipino fishing party by performing “low-altitude monitoring flights.”

Manila’s fishery bureau sent five ships to the disputed shoal, where eight Chinese Coast Guard ships and nine militia vessels were observed during the resupply mission, the PCG said.

“This mission exemplifies President Ferdinand Marcos, Jr.’s firm policy: We will neither waver nor surrender a single square inch of our territory to any foreign power,” PCG Commandant Admiral Ronnie Gil L. Gavan said in the statement.

The Marcos administration has recalibrated the Philippines’ South China Sea strategy, deepening security ties with allies and launching missions to support fishers in contested waters, all while pursuing upgrades to the country’s aging fleet. — Kenneth Christiane L. Basilio

Trump names envoy to PHL amid economic strains

LEE LIPTON — US DEPARTMENT OF STATE official Website

By Kenneth Christiane L. Basilio, Reporter

US PRESIDENT Donald J. Trump on Thursday picked a new ambassador to the Philippines, as Washington and Manila navigate economic and security challenges in their decades-old alliance.

The White House nominated Lee Lipton, a businessman and interim representative at the US Department of State’s Bureau of Western Hemisphere Affairs, as the next top envoy to Washington’s oldest treaty ally in Asia, it said in a statement posted on its website.

Mr. Lipton’s appointment is subject to Senate confirmation. If approved, he will succeed MaryKay L. Carlson, who has served as US ambassador to the Philippines since 2022.

He oversees operations aimed at advancing American interests in the western hemisphere while leading efforts to address a “range of regional challenges,” including countering Chinese influence in the Americas, according to a State Department biography.

“His appointment signals the trajectory Washington wishes to pursue in further deepening its ties with Manila,” Josue Raphael J. Cortez, a diplomacy instructor at De La Salle-College of St. Benilde, said in a Facebook Messenger chat.

“This signals the potential role the Philippines may be asked to play to ascertain that the US will continue to wield strategic influence within the region,” he added.

The US is the Philippines’ closest ally, with bilateral ties anchored on a 1951 Mutual Defense Treaty that commits both nations to support each other in the event of an armed attack in the Pacific, including the South China Sea.

Manila hosts joint military sites with Washington across strategic locations, including bases near regional flashpoints like Taiwan.

The treaty allies have recently faced mounting challenges from China’s growing assertiveness in the region, where Beijing’s military maneuvers and posturing have fueled regional tensions in a vital waterway that handles trillions of dollars in annual seaborne trade.

“The main challenges Mr. Lipton would have to face and address include the ever-growing influence of China across Southeast Asia and its potential implications on US primacy,” Mr. Cortez said. “The region today is fragmented in its alliances, with some nations leaning more towards Beijing’s sphere.”

His appointment and experience in countering Chinese influence signal Washington’s intent to maintain its role as an “international police power” in the region, he added.

But Mr. Lipton’s nomination comes amid global trade tensions, including a 19% US tariff on Philippine goods that took effect in August, posing a key challenge for the envoy, Mr. Cortez said.

“Given the economic repercussions of recent decisions by the Trump regime, the US must devise ways on how its economic and political interests may counterbalance the significance of China today,” he added.

Marcos’ online platform gets 20,000 reports

SUMBONGSAPANGULO.PH

ALMOST 20,000 reports have been filed with President Ferdinand R. Marcos, Jr.’s online platform for questionable infrastructure projects, Malacañang said on Thursday, as the Philippines continues with its anti-graft drive on public works.

Since its launch on Aug. 11, the sumbongsapangulo.ph platform had received 19,729 reports as of Thursday, according to Palace Press Officer Clarissa A. Castro.

“When there are no more reports, [the probes] are over and nothing is coming in, maybe the platform can be closed,” she told a news briefing in Filipino.

The platform lets citizens submit comments, suggestions or complaints about flood-control and infrastructure projects in their areas, providing the government with a direct feedback channel from the public.

Mr. Marcos earlier said he would personally review the reports to ensure accountability in the implementation of public works programs.

The initiative is part of the administration’s broader crackdown on anomalous and substandard infrastructure projects, following widespread complaints about flood-mitigation efforts that failed to ease inundation in Metro Manila and other regions during the rainy season.

Among the thousands of reports, the President in August visited a “ghost” flood control project in Bulacan worth P55 million. The inspection was prompted by a tip submitted through the online portal.

The public works officials linked to the “ghost project” have since been charged with administrative and criminal offenses.

The flood control probe is part of a larger review of public infrastructure spending and procurement practices. Since his fourth State of the Nation Address on July 28, Mr. Marcos has established the Independent Commission for Infrastructure to probe such projects.

The Senate and House of Representatives have also launched separate investigations, which tied some lawmakers to kickbacks from the projects.

The Department of Public Works and Highways has been ordered to cooperate fully with the investigations and submit progress reports on all projects under scrutiny. — Chloe Mari A. Hufana

Remulla takes oath as Ombudsman

NEWLY appointed Ombudsman Jesus Crispin C. Remulla takes oath before the Supreme Court, Oct. 9. — SC COMMUNICATIONS OFFICE

FORMER Justice Secretary Jesus Crispin C. Remulla took his oath as the country’s seventh Ombudsman on Thursday, ending the vacancy amid ongoing high-profile corruption cases.

Mr. Remulla took his oath before the Supreme Court en banc, administered by Senior Associate Justice Marvic M.V.F. Leonen, who is serving as Acting Chief Justice.

In his message during the ceremony, Mr. Leonen congratulated and urged Mr. Remulla to pursue integrity and evidence-based accountability that “can ensure that those who should be accountable can be made accountable by our courts.” He added that the judiciary would support the Ombudsman’s work while also advancing reforms within its own ranks.

As head of the Office of the Ombudsman, Mr. Remulla holds the authority to prosecute, suspend, or remove erring government officials and file criminal cases when warranted.

In a press briefing after his oath-taking, Mr. Remulla pledged to expedite corruption cases linked to the flood control scandal, which he actively handled as Justice secretary.

“This is an emergency situation at the DPWH (Department of Public Works and Highways). We have to focus on building strong cases and ensure they are properly filed before the Sandiganbayan or Regional Trial Courts, whichever applies,” Mr. Remulla said. He added that the timeline will depend on the case and that “once we file, we’ll be ready for trial.”

Mr. Remulla also said he would revisit certain policies established by former Ombudsman Samuel R. Martires, particularly on making public officials’ Statements of Assets, Liabilities, and Net worth (SALNs) accessible again.

He said that the SALN should not be used to harass officials, recalling his Judicial and Bar Council (JBC) interview in which he said, “The SALN should not be used for vilification or blackmail. It can be accessed for investigative purposes, as long as proper safeguards protect individuals.”

President Ferdinand R. Marcos, Jr. appointed Mr. Remulla to the position, a move Malacañang described as a reflection of the administration’s “commitment to fight corruption wherever it exists.”

Prior to his Cabinet appointment, Mr. Remulla was a prominent lawmaker and administrator, serving as Deputy Speaker of the House (15th Congress), Senior Deputy Majority Leader (18th Congress), Governor of Cavite (2016-2019), and later as the 59th Secretary of Justice in 2022. — Erika Mae P. Sinaking

Proposed tax holiday needs review

People line up to file their income tax returns at the Bureau of Internal Revenue office in Intramuros, Manila, April 18, 2022. — PHILIPPINE STAR/ RUSSELL A. PALMA

MALACAÑANG said it needs to carefully review Senator Erwin T. Tulfo’s proposal to grant a one-month income tax holiday, citing the measure’s potential fiscal implications.

Special Assistant to the President for Investment and Economic Affairs Frederick D. Go said on Thursday that the Department of Finance (DoF) and the Department of Budget and Management (DBM) must first evaluate the fiscal and budgetary impact of the proposal before the Palace can make a stand.

“This is quite a big matter,” he told reporters in mixed English and Filipino during a Palace briefing on Thursday. “It’s best to give the DoF and DBM time to carefully study this proposal.”

Mr. Tulfo’s Senate Bill No. 1446, the proposed One-Month Tax Holiday of 2025, seeks to provide direct financial relief to Filipino workers by exempting individual taxpayers’ compensation income from tax for one month.

The exemption would take effect on the first payroll period following the bill’s approval.

For mixed-income earners, the relief would cover only the portion of income derived from employment.

Mandatory contributions to the Government Service Insurance System, Social Security System, the Philippine Health Insurance Corp. (PhilHealth), and Pag-IBIG Fund — as well as loan amortizations and other voluntary deductions — would not be covered by the exemption. — Chloe Mari A. Hufana