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Barreto tops 100m, 800m freestyle of national open

MIGUEL Barreto splashed his way to a pair of golden performances at the conclusion of the 2022 Philippine Swimming, Inc. National Open. — PHILIPPINE STAR/ JOEY MENDOZA

MIGUEL Barreto splashed his way to a pair of golden performances at the conclusion of the 2022 Philippine Swimming, Inc. National Open at the Teofilo Yldefonso Swimming Complex, formerly Rizal Memorial Pool Center on Sunday.

Representing Ayala Harpoons Swim Club, Mr. Barreto took the men’s 800-meter freestyle gold in eight minutes and 52.01 seconds as well as in the 100m freestyle where he timed in 53.03 seconds, which was her best time in the event.

“Thankfully, I had the best time because out of my five events, that was my best swim,” said Mr. Barreto referring to the 100m.

Pierre Chan and Jordan Lobos likewise made their presence felt by topping the 50m backstroke in 26.91 and 200m breaststroke in 2:21.77, respectively.

Jass Mojdeh, 16, edged Chloe Daos in ruling the women’s 200m butterfly in 2:19.90 while Mervien Mirandilla pocketed the gold in the 200m fly in the men’s 2:11.18.

Xiandi Chua, a SEA Games silver and bronze medalist, struck gold in the women’s 100m while Hannah Sanchez was triumphant in the women’s 800m free in 9:58.65.

All-Star Swim Club annexed two races with Hannah Sanchez and Xiandi Chua taking the women’s 800m freestyle in 9:58.65 and the women’s 100m freestyle in 59.26 seconds, respectively. — Joey Villar

Shares to drop further on Russia-Ukraine crisis

BW FILE PHOTO

PHILIPPINE shares could continue to slide as Ukraine declared a state of emergency after Russia’s advance into the state, dampening investor sentiment across the globe.

The bellwether Philippine Stock Exchange index (PSEi) went down by 151.98 points or 2.06% to close at 7,212.23 on Thursday, while the broader all shares index fell by 75.01 points or 1.91% to 3,842.85.

Week on week, the PSEi fell by 206.56 points from its finish of 7,418.79 on Feb 18.

Philippine financial markets were closed on Friday in commemoration of the People Power Revolution anniversary.

“The market was heavily downed after [Russian President Vladimir] Putin ordered military operations for the invasion of Ukraine. This will further heighten market volatility that may further aggravate… global inflation with further disruptions in oil and other supplies,” Diversified Securities, Inc. Equity Trader Aniceto K. Pangan said in a text message.

“The deployment of Russian forces in Ukraine dragged down investor sentiment across all assets, with Philippine shares included,” AAA Southeast Equities, Inc. President William M. Cabangon said in a Viber message. “We await the response of the Western powers to the situation.”

Mr. Cabangon added that the non-working holiday on Friday incentivized many to sell their holdings as there was a real risk that the situation would worsen over the long weekend.

On Saturday, Ukrainian leader Volodymyr Zelenskiy said Ukraine’s forces were repelling Russian troops advancing on Kyiv, as Russian forces renewed their assault and attacked the capital and other cities with artillery and cruise missiles.

Western allies are preparing sweeping new sanctions against Russia, including banishing its key banks from the main global payments system, drawing thanks from Ukraine on Sunday as its forces battled advancing Russian troops, Reuters reported.

The biggest assault on a European state since World War Two threatens to upend the continent’s post-Cold War order.

Analysts said the Russia-Ukraine crisis will continue to affect the market this week.

“Volatility is seen, with global investors attuned to headlines unfolding in Russia-Ukraine and its consequent effect on world crude prices,” online brokerage 2TradeAsia.com said in a report.

2TradeAsia.com put the PSEi’s immediate support at 7,300 and resistance at 7,400 to 7,430.

“Expect positioning at intraday lows, as some players seize on weakness to selectively position for prospects this year. Steer clear for possible supply pressure on select stocks, given the month-end portfolio rebalancing,” the online brokerage said.

Meanwhile, Diversified Securities’ Mr. Pangan placed the PSEi’s immediate support at 7,000 and resistance at 7,400. — Luisa Maria Jacinta C. Jocson with Reuters

Yields on government debt increase

GOVERNMENT SECURITIES (GS) continued to be sold off last week, pushing yields higher, as investors turned cautious after Russia moved to invade Ukraine.

GS yields, which move opposite to prices, went down by a week-on-week average of 17.82 basis points (bps), according to the PHP Bloomberg Valuation Service Reference Rates as of Feb. 24 published on the Philippine Dealing System’s website

Local financial markets were closed on Friday in commemoration of the People Power Revolution anniversary.

Yields went up across the board at the secondary market on Thursday from their Feb. 18 finish. At the short end of the curve, yields on the 91-, 182-, and 364-day Treasury bills (T-bill) rose by 16.05 bps, 10.08 bps, and 4.5 bps, respectively, to 0.9723%, 1.1639%, and 1.5453%.

The belly of the curve similarly increased as the rates of the two-, three-, four-, five- and seven-year Treasury bonds (T-bonds) climbed by 37.48 bps (to 3.0566%), 32.09 bps (3.7535%), 25.58 bps (4.3604%), 19.37 bps (4.8164%), and 9.59 bps (5.2529%), respectively.

At the long end, yields on the 10-, 20- and 25-year debt rose by 0.65 bp (to 5.4122%), 19.70 bps (5.6938%), and 20.97 bps (5.6992%).

“Traders are looking at how FOMC (Federal Open Market Committee) and US Treasuries (UST) will react to CPI (consumer price index) pressures given the backdrop of risk aversion due to the ongoing invasion in Ukraine,” a bond trader said in a Viber message on Thursday.

The bond trader added that the Bureau of the Treasury’s (BTr) announcement of its March borrowing plan moved the market last week.

“Markets saw a rout as rising global inflation pressures took precedence over local drivers. The market tracked surges in USTs when US inflation printed 7.5%, while news of the five-year RTB (retail Treasury bonds) added on to the selloff when it was announced,” Security Bank Corp. Chief Economist Robert Dan J. Roces said in an e-mail.

Expectations of the US Federal Reserve tightening by next month has been weighing on economies worldwide recently as US inflation rose at its fastest pace in nearly four decades at 7.5% annually in January.

Meanwhile, Russia’s invasion of Ukraine sent stock markets around the world falling on Thursday while prices of commodities such as oil rose, Reuters reported.

The conflict pushed Brent oil past $100 a barrel for the first time since 2014. Russia is the world’ second-largest crude oil producer.

Back home, the BTr announced last Tuesday it plans to borrow P250 billion from the domestic debt market in March, higher than the P200 billion programmed in February.

Broken down, it targets to borrow P75 billion from its weekly T-bill auctions and P175 billion via T-bonds.

The government taps domestic and foreign lenders to help fund its budget deficit capped at 7.7% of the economy this year.

The Treasury raised an initial P120.76 billion from its sale of five-year RTBs at its rate-setting auction on Feb. 15, more than four times the P30-billion issue size. The market flocked the offering as total bids amounted to more than six times the offer at P183.44 billion.

The RTBs, targeted at small investors who want low-risk, higher-yielding savings instruments backed by the government, fetched a coupon rate of 4.875%, higher than the 4.625% set for the same RTB in November last year.

The offer period runs from Feb. 15 to 28 and the bonds will be settled on March 4.

This week, the bond trader expects continued upward pressure on rates especially if the Russia-Ukraine news will help oil prices remain elevated as higher oil prices lead to higher inflation expectations.

“On the domestic end, we have the three-year auction on Tuesday, on top of the ongoing RTB and the February CPI data which will be known on March 4,” the bond trader added.

The Treasury will offer fresh three-year papers worth P35 billion on Tuesday.

Meanwhile, the Philippine Statistics Authority is scheduled to release February inflation data on March 4.

A BusinessWorld poll of 15 economists last week bared a February inflation median estimate of 3.3%. This is higher than 3% print in January but lower than the 4.2% print in February last year. — Lourdes O. Pilar with Reuters

‘Climate-smart’ agriculture budget for 2022 set at P24 billion

THE Department of Agriculture (DA) said it has P24 billion to invest in climate-smart agriculture projects in 2022, mainly involving research, but with funds also allocated to upgrade the telecommunications infrastructure to improve access to climate information.

“In the Philippines, we have centered our climate change and resiliency agenda on strengthening agriculture research for development, including the establishment of biotechnology centers for crops, livestock and fisheries,” Agriculture Secretary William D. Dar said in a statement.

He said the DA is also working with private firms to improve telecommunications infrastructure to provide climate information service and enhance farmers’ ability to adopt productivity-enhancing technology.

It is also working on credit and insurance programs for climate adaptation, geospatial databases, and climate-proof facilities.

The department is implementing climate projects in 130 barangays.

“We must introduce adaptation and mitigation measures to communities rather than to individual farmers and fisherfolk, where communities facing similar climate risks are provided with tailor-fitted, integrated support service,” Mr. Dar added. — Luisa Maria Jacinta C. Jocson

Investors positive on SM Prime’s upbeat earnings

MARKET players remained optimistic on SM Prime Holdings, Inc. (SMPH) following strong earnings results last week, dampened only after Russia invaded Ukraine.

A total of 41.35 million SM Prime shares worth P1.61 billion were traded from Feb. 21 to 24, data from the Philippine Stock Exchange (PSE) showed.

Financial markets were closed on Friday in commemoration of the People Power Revolution anniversary.

The share price of the Sy-led property developer closed at P38 apiece, down by 0.5% from Feb. 18’s closing price of P38.20 per share. For the year, the stock has gone up by 13.4%.

Stock analysts attributed SM Prime’s performance last week to its “upbeat” earnings report.

“SMPH’s trading range was wholly dictated by sentiment over its [fiscal year 2021] earnings report. Investors bought up SMPH in the first half of the week as a reopening play amid talks of a lower alert level in the Metro,” Regina Capital Development Corp. Head of Research Luis A. Limlingan said in a Viber message, referring to the company’s ticker symbol.

“SMPH’s upbeat earnings surprised on the upside on the back of better-than-expected [fourth quarter 2021] leasing figures. It looks like because of this, market players revised upward their fair value estimates for the stock,” Mr. Limlingan added.

However, this was dampened by the escalating tensions between Russia and Ukraine, which “dragged performance of index issues across the board on Thursday,” China Bank Securities Corp. Research Associate Andrei Jorge G. Soriano said in a separate e-mail interview.

SM Prime’s net income reached P6.2 billion in the fourth quarter of 2021, its disclosure to the local bourse showed without providing comparative figures. Revenues during the period rose by a fourth to P25.5 billion.

This brought the full-year bottom line to P21.8 billion last year, growing by 21% year on year. Its revenues were flat at P82.3 billion.

By market segment, its residential unit, led by SM Development Corp., posted P45.9 billion in revenues.

SM Prime’s mall business’ revenues improved a bit to P24.1 billion last year from P23.6 billion in 2020 as mobility restrictions were eased in Metro Manila and surrounding areas. Rent income likewise inched up by 6% to P23 billion.

Revenues from its other businesses, which include offices, hotels, and convention centers, increased by 4% to P6 billion.

Meanwhile, Russian President Vladimir Putin unleashed an invasion of Ukraine on Thursday, citing the need to “denazify” the latter’s leadership as one of Mr. Putin’s main reasons, which Ukraine and its Western allies dismissed as propaganda, Reuters reported.

This sent global stocks and US bond yields to dive on Thursday, while US dollar and gold rose. Brent oil surged past $100 per barrel for the first time since 2014.

Mr. Limlingan expects the property firm to grow by 21% to net around P7.5 billion for the first three months of the year. He also forecasts a P25 billion in earnings for the entire 2022.

“With its residential segment staying robust, and the retail leasing segment continuing to improve, it is highly likely that the company will be able to sustain its double-digit growth figures this year and next,” Mr. Limlingan said.

For this week, he sees SM Prime’s support and resistance levels of P37 and P40, respectively.

“We think that SMPH will likely continue pulling back over the coming week, especially given the weakness in market sentiment,” Mr. Soriano said.

He placed the company’s immediate support and resistance at P37.30 and P40.00, respectively. — Ana Olivia A. Tirona

Seaoil presents 3 new ‘Lifetime Free Gas’ promo winners

Mindanao winner Jenreel Alger — PHOTO FROM SEAOIL

TWO DELIVERY riders and a working student are this year’s recipients of lifetime free fuel from Seaoil. The winners are Jomar Alluag (Luzon), Jason Deposoy (Visayas), and Jenreel Alger (Mindanao), who now join the roster of customers winning the yearly promo of the independent fuel player.

Mr. Alluag, 34, had lost his job at the beginning of the pandemic. He then became a Grab delivery rider, working 10 hours a day and making up to 18 deliveries — providing for his family and sending support to his parents in the province whenever he can. The raffle winner said that with his fuel savings, he can now plan to build a new home for his family. Jomar Alluag uses the PriceLOCQ app when claiming his free fuel at the Seaoil station in Tandang Sora, Quezon City.

Mr. Deposoy, 28, is a FoodPanda rider who makes up to 30 deliveries a day in Dumaguete City. The former security guard feels he can now build a future for his daughter’s education because of the win. “Napakalaking tulong ang pagkapanalo ko sa Lifetime Free Gas para sa pamilya ko kasi hindi na mababawasan ang kinikita ko. Diretso ko nang maiuuwi yung pang-gas ko doon sa pamilya ko (Winning the Lifetime Free Gas promo is a huge help to my family since my income will not be reduced. I can now use my gas savings for my family).”

Lastly, Mr. Alger, 21, is a self-employed working student in Lanao del Norte. He drives a vehicle on trips to Iligan and Cagayan de Oro. Now in his third year as a BS Criminology student, he is eager to finish college and work full time to support his household. Jenreel and his brother were raised by their fraternal grandparents. With his win, he’s planning to take his grandparents on road trips, and support their needs.

“Nung nalaman kong nakasama ako sa grand-prize winners, hindi ako makapaniwala at sobrang natuwa ako. Malaking tulong sa akin ang pagkapanalo ng Lifetime Free Gas, lalo na sa pang-gastos sa araw-araw kasi palagi akong nagpapa-gas (When I learned I was among the grand-prize winners, I couldn’t believe it. It’s a huge help to win the Lifetime Free Gas promo, especially with all our expenses. I’m always gassing up),” he shared.

The fifth edition of Seaoil’s Lifetime Free Gas has been its biggest yet, with grander prizes. Three more winners received a year’s supply of free gas, four winners received motorcycle packages, and 75 winners nationwide won P3,000 worth of gas vouchers.

Analysts’ February 2022 inflation rate estimates

INFLATION likely accelerated in February due to the spike in global oil and commodity prices after Russia’s invasion of Ukraine, analysts said. Read the full story.

Analysts’ February 2022 inflation rate estimates

DTI sees Alert Level 1 impact on jobs at 500,000 positions

PHILIPPINE STAR/ MICHAEL VARCAS

THE easing of the quarantine to Alert Level 1 in the National Capital Region (NCR) and other major provinces and cities will result in the eventual creation of about 500,000 jobs, the Department of Trade and Industry (DTI) said.

“We are running the numbers, depending on other provinces and highly urbanized cities that will be de-escalated. If we assume de-escalation of NCR and key cities and provinces, we hope to generate around 500,000 more jobs over time,” Trade Secretary Ramon M. Lopez said in a Viber message.

“But it is important to (maintain) masks, regular disinfection, (improved) ventilation, and vaccination,” he added.

The Alert Level 1 quarantine setting for Metro Manila in early March was announced Sunday afternoon, with new coronavirus disease 2019 (COVID-19) cases continuing to decline. Metro Manila has been under Alert Level 2 since the start of February. 

Alert Level 1 is the most relaxed quarantine setting, allowing business establishments to operate at full capacity as long as minimum public health standards are followed. Travel between and within areas with different alert settings, regardless of age and comorbidities, will also be permitted.  

Under Alert Level 1, Mr. Lopez said, businesses can expect “(fewer) restrictions on remaining operating capacity, removal of physical barriers, work from home as optional,” Mr. Lopez said.

Mr. Lopez said the Philippines is close to recovering the jobs that were lost during the pandemic. 

He added that around 800,000 jobs are expected to be created in the Philippines once restrictions are removed.

“Yes, (we are) getting close to it. Thus, we can expect to generate 800,000 more jobs over time for the entire country once we remove the (remaining) restrictions,” Mr. Lopez said.  

“Hopefully, (in the first round) of de-escalation, we can hit about 500,000 of that with all parts of the economy functioning again,” he added.

Mr. Lopez has announced that the DTI will propose the removal of plastic barriers in business establishments.

He added that temperature checks must remain despite the protocol changes set to be made under Alert Level 1. — Revin Mikhael D. Ochave

PCCI backs PHL plan to begin trade talks with US

REUTERS

THE Philippine Chamber of Commerce and Industry (PCCI) expressed its support for plans to start free trade discussions with the US.

“We are all for it,” PCCI President George T. Barcelon said in a Viber message to BusinessWorld on Sunday.

On Feb. 24, Trade Secretary Ramon M. Lopez said during a virtual briefing organized by the Philippine Embassy in Washington that the Philippines is seeking to begin discussions on a free trade agreement (FTA) and the renewal of the Generalized System of Preferences (GSP) program with the United States.

“We are grateful for the GSP program that the US has provided the Philippines. Of course, the next step really is how we can elevate it into an FTA so that it becomes a longer-lasting kind of a trade arrangement,” he added.  

 “We’ve been wanting really to start the (GSP) discussion… Of course, we are trying to have that renewed for this year,” Mr. Lopez said.

Trade privileges under the US GSP program expired on Dec. 31, 2020 and have not been renewed. Under the program, a list of Philippine exports is allowed entry into the US duty-free.

The Department of Trade and Industry (DTI) estimates a Philippine utilization rate of 74% for the GSP privilege in 2020.

Mr. Barcelon said the Philippines will also expand its trade relations once the Regional Comprehensive Economic Partnership (RCEP) is ratified by the Senate.

 “Once we ratified RCEP, Australia and New Zealand open up,” Mr. Barcelon said.

RCEP is a trade deal involving Australia, China, Japan, South Korea, New Zealand, and 10 members of the Association of Southeast Asian Nations (ASEAN).

The trade deal is expected to improve trade and help in the global economic recovery. It took effect on Jan. 1 and has taken effect in 11 countries.

The Senate has yet to give its concurrence to RCEP, adjourning on Feb. 3 for the upcoming elections. RCEP was signed by President Rodrigo R. Duterte on Sept. 2, 2021. — Revin Mikhael D. Ochave

PHL new energy capacity estimated at 7,911 MW by 2027

THE Philippine energy system is expected to add capacity of 7,910.96 megawatts (MW) by 2027, with coal-fired plants accounting for 46.68%, natural gas 38.71%, renewable energy (RE) 11.39%, and facilities fueled by oil 6.67%.

Even though the government has banned new coal-fired power plants, coal-fired projects whose approval was in process when the ban was announced will account for 3,685.40 MW, the Department of Energy (DoE) said.

The biggest of these projects is Atimonan One Energy, Inc. and Meralco PowerGen Corp.’s ultra-supercritical AOE coal-fired power plant Unit 1, with 600 MW in installed capacity.

The AOE plant was built in 2018, but was delayed due to issues in securing approval from the Energy Regulatory Commission (ERC) for its power supply agreements. It is now scheduled to begin commercial operation by June 2025.

There are only six natural gas power plant projects committed to the DoE, and they account for a combined 3,062.50 MW of capacity.

All six projects are located in Luzon, the biggest of which is Batangas Clean Energy, Inc.’s 1,100-MW natural gas-fired power plant in Batangas City. This is targeted to begin operations by September 2026.

Meanwhile, the energy mix will add 901.27 MW in RE capacity by 2027, with solar accounting for 488.27 MW, hydropower 232.50 MW, geothermal 115.60 MW, and biomass 64.60 MW.

The biggest upcoming RE facility is Solar Philippines Tarlac Corp.’s 115-MW Concepcion 1 solar power project, which will start operating in November.

Oil-fired plants are also expected to add 528.1 MW to the energy mix, with 150 MW to be generated by Ingrid Power Holdings, Inc.’s Ingrid Pililia Diesel power plant project Phase 2, which is due to come onstream by December 2024.

The DoE data also indicate plans for 2,040 MW worth of battery energy storage system projects, most of which will be installed in Luzon by Universal Power Solutions, Inc.

The Philippines has set a target of sourcing 35% of its energy from RE by 2030 and 50% by 2040.

Energy Undersecretary Felix William B. Fuentebella has expressed confidence in hitting the target.

“I think we will be able to hit that, but there will be a lot of improvements (needed)… we need the (the National Grid Corp. of the Philippines and distribution utilities) to contract (capacity) because the Wholesale Electricity Spot Market (WESM) secondary price gap is too low, so that’s a deterrent (for) the merchant plants coming in,” Mr. Fuentebella said during the Rizal Commercial Banking Corp. virtual Sustainability Forum on Feb. 23.

In 2020, the Philippines’ power mix consisted of 57% coal-fired, 21% RE, 19% natural gas, and 2% oil-based. — Marielle C. Lucenio

World Bank to finance Bangsamoro out-of-school youth relief measures

REUTERS

THE World Bank is preparing $2.75 million in financing to help reduce the number of out-of-school youth in the Bangsamoro region.

The bank, in a document dated Feb. 23, said the No Bangsamoro Child Left Behind project aims to reduce the number of school dropouts by 35% and increase re-enrollments by 30%.

Financing for the Bangsamoro Autonomous Region in Muslim Mindanao project will be sourced from the Japan Social Development Fund, which provides grants to support poverty reduction projects.

Beneficiaries include an estimated 29,100 children aged six to 11 years old over three school years.

Of that total, 22,500 are out of school and 6,600 are at-risk children currently in school.

The project will be rolled out in 100 pilot elementary schools in Lanao Del Sur, including Marawi City.

“With the project interventions, the elementary graduation rate is expected to improve by 3% by the end of the project period. It is also estimated that 350 households per year will improve their livelihood by earning incomes contributing to the school feeding program,” the World Bank said.

The project will mobilize community and school members to assess the causes of the drop outs, find local solutions, and enforce remedial measures.

“The project will also offer seed funds to organize a school feeding program that can benefit both students and households,” the World Bank said.

“By contributing labor and/or ingredients for the program, household members could earn incomes, while students could have access to nutritious food at school.”

The report noted underfunding for education in the region, which means that learning has fallen behind the national average.

The Department of Finance has said that Japan has been extending loans and grants supporting the Mindanao peace process, including road network projects in areas affected by conflict and agriculture livelihood assistance.

Meanwhile, the European Union last week agreed to a €20.2-million (P1.17 billion) grant that will support agriculture businesses in the Bangsamoro region.

The five-year program will help farmers and cooperatives use integrated farming methods that will improve their ability to increase the quantity and quality of their produce. — Jenina P. Ibañez

Blanket ban on US, Canadian poultry seen raising chicken prices

REUTERS

THE MEAT industry said a government ban on poultry imports from the US and Canada will cause chicken prices to surge, adding that a bird flu outbreak in North America is not sufficient reason to issue a blanket ban.

“With virtually all sources in Europe already banned due to avian influenza (AI), the only source countries left with sizeable production capacity are the US, Brazil and Canada. A further ban on the US and Canada is surely going to cause an increase in the cost of the most basic and affordable processed meats,” the Meat Importers and Traders Association (MITA) said in a statement.

“Imposing a country-wide ban on nations that have a huge land mass is unwarranted and not supported by any risk assessment. Furthermore, the whole world is now facing inflationary pressures that also threaten our food security,” it added.

MITA said the meat processing industry is reliant on deboned chicken and is suffering from the delay of sanitary and phytosanitary permits needed to ship in farm produce.

“We are concerned with the long delay in the issuance of sanitary and phytosanitary permits for US and Canadian poultry. Some of our members have been waiting for three weeks when it should not take more than 2 to 3 days to secure a permit,” it said.

“We understand there is concern with the detection of AI in both countries. However, AI is a notifiable disease and both countries have containment and stamping out procedures in place… both countries are totally transparent with their current situation and course of action,” it added.

The group said the three-week delay in the issuance of import permits will cause a supply gap and a spike in chicken prices.

“We strongly urge your office to immediately process and release permits for US and Canadian poultry sourced from areas not affected by bird flu,” MITA said.

Separately, the Department of Agriculture said it is working on containing the Philippines’ own bird flu outbreak.

The Bureau of Animal Industry (BAI), confirmed the Highly Pathogenic Avian Influenza H5N1 strain on Jan. 6 in Baliwag, Bulacan, the first reported case in the country.

BAI Director Reildrin G. Morales said the bureau is monitoring the chicken and turkey flock, after conducting a cull of quail and duck within the radius of potential exposure.

“We enjoin all poultry raisers and farm workers to observe and implement necessary biosecurity measures and cooperate with temporary movement restrictions that may be applied in affected areas to prevent incursion of the disease in their facilities and farms,” Agriculture Secretary William D. Dar said in a statement.

“We assure the general public that the risk of catching H5N1 is very low. Poultry meat and its products are safe to eat,” he added. — Luisa Maria Jacinta C. Jocson

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