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Philippine agencies hit 94.4% cash-use rate as budget scrutiny intensifies

PHILIPPINE STAR/EDD GUMBAN

PHILIPPINE government agencies posted a 94.4% cash-use rate as of end-October, slightly above last year’s pace despite heightened scrutiny over graft-tainted flood control projects and congressional insertions, the Department of Budget and Management (DBM) said.

Agencies, local governments and state-owned companies used P3.92 trillion of the P4.15 trillion in notices of cash allocation (NCAs) released during the period, leaving P230.29 billion unused.

NCAs authorize agencies to draw funds from government banks to cover their cash requirements.

Line departments spent 92.8% of their allocations, or P2.85 trillion, with P221.34 billion unspent.

The Commission on Audit recorded the highest use rate at 99.47% (P10.66 billion), followed by the Department of Social Welfare and Development at 97.08% (P230.43 billion).

The Department of Public Works and Highways — under scrutiny for irregularities in flood control projects — used 93.2% or P670.43 billion of its P719.13 billion released NCAs.

Budgetary support for government-owned corporations was 98.6% used, while local governments posted a 99.23% rate.

For October alone, agencies used P297.86 billion, equivalent to a 94% use rate, the DBM said.

The cash-use data come as Congress debates the 2026 national budget, which is under public scrutiny for potential inefficiencies and political insertions. — Aubrey Rose A. Inosante

Panasonic invests P3B to expand domestic manufacturing in PHL

PANASONIC.COM

PANASONIC Manufacturing Philippines Corp. has registered P3 billion worth of projects with the Philippine Economic Zone Authority (PEZA) as it moves to expand operations into the domestic market.

In a statement on Wednesday, PEZA said it signed registration and supplemental agreements with Panasonic covering its shift from a purely export-oriented operation to a hybrid setup.

“This latest expansion underscores Panasonic’s continued trust in the Philippines and in PEZA’s investor-friendly policies,” the agency said.

Under the expansion, the Japanese company will manufacture electric fans, refrigerators and washing machines at its facility in Laguna Technopark, where it has operated as an export enterprise since 2003.

The domestic-market operation is expected to start between 2026 and 2027 and create over 340 additional jobs during its incentivized period, PEZA said.

Panasonic ranks first in market share for refrigerators and washing machines in the Philippines, and second in air-conditioners, according to the agency.

In a Nov. 28 regulatory filing, the company said the PEZA registration qualifies it for fiscal and nonfiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.

These include a five-year income tax holiday, 10 years of enhanced deductions and 15 years of duty-free importation of capital equipment, raw materials and accessories. — Justine Irish D. Tabile

Marcos cuts 2025 property taxes for power producers to avert fiscal, energy risks

BW FILE PHOTO

PHILIPPINE President Ferdinand R. Marcos, Jr. ordered a reduction of real property taxes on independent power producers (IPP) for 2025, warning that full assessments could trigger defaults, strain state finances and disrupt power supply.

Executive Order (EO) No. 106, issued on Nov. 28 and published on Wednesday, lowers this year’s property-tax liabilities of IPPs —including special education fund charges —  operating under build-operate-transfer and similar contracts with government-owned firms.

Taxes will now be based on 15% of fair market value, depreciated 2% annually, minus any payments already made.

The directive also wipes out all interest and penalties on unpaid obligations, with excess payments credited to future liabilities.

The order cites longstanding disputes between local governments and IPPs over whether the producers qualify for preferential tax treatment under the Local Government Code of 1991, which grants state-run power entities a 10% assessment rate and exemptions for machinery used in power generation and transmission. Some LGUs have threatened enforcement actions such as property auctions.

Though IPPs are technically liable for the taxes, the National Power Corp. (Napocor) and the Power Sector Assets and Liabilities Management Corp. (PSALM) have contractually assumed a significant share, backed by the National Government.

The Finance Department warned that collecting taxes at the maximum 80% assessment could saddle the two agencies with massive obligations, undermine fiscal-consolidation efforts, destabilize electricity prices and trigger broader economic losses.

Affected IPPs supply about 1,085 megawatts to the grid, and any disruption could force higher-cost power purchases or rolling outages, according to the EO.

Mr. Marcos invoked Section 277 of the Local Government Code, which allows tax reductions in the public interest, and directed the Interior department to ensure LGU compliance, with the Finance department required to report back within six months. — Chloe Mari A. Hufana

Philippine Energy dep’t reviewing renewable energy agreements to boost project rollout

ZBYNEK BURIVAL—UNSPLASH

THE Department of Energy (DoE) is reviewing renewable energy (RE) projects awarded under the open and competitive selection process (OCSP) to accelerate development and improve implementation efficiency, officials said.

“We are… reviewing whether OCSP projects are actually being implemented,” Energy Undersecretary Mylene C. Capongcol told reporters on the sidelines of a dialogue organized by Clean, Affordable, and Secure Energy for Southeast Asia on Wednesday. “We’re having it reviewed to determine the best way to accelerate and make it more efficient.”

The OCSP allows the DoE to award RE contracts in pre-determined areas through competitive bidding. These are locations identified as having high potential for renewable energy development, including hydro, geothermal and wind resources.

The government last ran an OCSP in 2023, receiving 25 bids across these technologies.

Ms. Capongcol noted that many contracts offered under OCSP come from projects that were terminated, relinquished or surrendered by developers. The review aims to ensure these areas are efficiently redeployed to meet the country’s RE targets.

In a draft terms of reference for the fifth round of OCSP, the DoE identified 11 pre-determined areas nationwide for potential RE projects.

Seven sites are earmarked for hydropower, with a combined capacity of 37.4 megawatts (MW). Two geothermal projects, with a potential capacity of 68 MW, are also proposed, while two wind projects are in the pipeline, though their capacity is still being assessed.

To date, the DoE has awarded more than 1,500 RE service contracts, representing about 130 gigawatts of potential capacity.

These projects are critical to raising the share of renewables in the national power mix to 35% by 2030 and 50% by 2040. RE generation now accounts for about 22% of total electricity.

Ms. Capongcol said projects awarded through OCSP and the rising adoption of distributed energy resources are expected to help the Philippines reach these targets.

The review also seeks to identify bottlenecks in project deployment, ensuring that renewable projects progress on schedule and contribute to grid reliability.

The DoE’s focus on OCSP underscores the government’s push to meet growing energy demand while reducing dependence on fossil fuels.

By streamlining existing contracts and accelerating development in pre-determined areas, Manila hopes to bolster renewable generation, attract private-sector investment and advance its climate and energy transition goals. — S.J. Talavera

DA gunning for better rice varieties after global recognition of dinorado

PHILIPPINE STAR/WALTER BOLLOZOS

THE Department of Agriculture (DA) said it is “challenging scientists” at the Philippine Rice Research Institute (PhilRice) to produce better rice varieties and outdo the second-place performance of homegrown variety Mabango 3, locally known as dinorado, at the World’s Best Rice 2025 Awards.

“Prove to the world that Filipino science doesn’t just measure up,” Agriculture Secretary Francisco P. Tiu Laurel, Jr. told a news briefing on Wednesday. “It can cook, compete and command global demand.”

Chosen from 30 entries representing rice giants such as Thailand, India and Australia, Mabango 3 was chosen for its distinctive fragrance, tenderness and flavor. Vietnam’s ST25 and Cambodia’s Phka Rumdoul varieties tied for gold.

Developed in 2009 by the DA-PhilRice, Mabango also won third place in the same competition last year.

“This win is a well-deserved salute to the dedication of our scientists, coming in during the 40th anniversary of PhilRice. This is proof that Filipino scientists are world-class,” Mr. Laurel said.

He also said more Philippine varieties are worthy of global attention, and with sustained research,  the country is inching closer to claiming the top prize.

PhilRice has developed 121 varieties in the past 40 years as part of  efforts to create high-yielding, quality and climate-resilient rice, the DA said. — Vonn Andrei E. Villamiel

Tatak Pinoy strategy may boost Philippine manufacturing amid factory slump

CITEM

By Justine Irish D. Tabile, Reporter

THE PHILIPPINE government is leaning on its so-called Tatak Pinoy strategy, including a push for local procurement, to revive domestic manufacturing after factory activity hit a four-year low in November, officials said.

“We were all concerned that the manufacturing PMI has gone down, but thankfully  we now have the Tatak Pinoy strategy, and one of the pillars is government procurement,” Economy, Planning and Development Undersecretary Rosemarie G. Edillon told a panel discussion on Wednesday.

The country’s manufacturing purchasing managers’ index (PMI) dropped to 47.4 last month, from 50.1 in October, signaling a contraction in operating conditions and making the Philippines the only Association of Southeast Asian Nations (ASEAN) country to see a manufacturing downturn in November. A PMI reading below 50 indicates deterioration.

Ms. Edillon noted that government programs — from healthcare and education to supplementary feeding — could rely on locally produced goods, creating demand for Filipino manufacturers.

The Department of Trade and Industry (DTI) launched the Tatak Pinoy Program on Tuesday, targeting sectors including agro-processing, electronics, information technology, business process management, pharmaceuticals, and defense for global competitiveness.

“We envision an ecosystem where micro, small and medium enterprises can thrive and Filipino brands can conquer the global market,” she said in a keynote speech. To achieve this, the program prioritizes domestic suppliers in government procurement, leveraging public spending to stimulate innovation, strengthen supply chains and support homegrown industries.

Education Secretary Juan Edgardo “Sonny” M. Angara said the Department of Education (DepEd) is one of the biggest government buyers, overseeing 45,000 schools and about a million teachers and employees.

“DepEd’s demand gives us market power,” he said on the sidelines of Wednesday’s event. Classroom construction materials and textbooks can be locally sourced, supporting local authors and manufacturers, he added.

He also said DepEd would contribute to developing a skilled, world-class workforce, aligning with Tatak Pinoy’s broader goals of capacity-building and economic modernization.

Philippine cybersecurity sector seeks unified approach

STOCK PHOTO | Image by DC Studio from Freepik

THE PHILIPPINE cybersecurity industry is urging  government and private-sector players to move away from reactive, fragmented policies and adopt consistent standards and resilient infrastructure to counter rising cyber threats.

“What we are seeing today is the result of years of underinvestment, lack of coordination and misplaced priorities,” Angel T. Redoble, chairman of the Philippine Institute of Cyber Security Professionals, said in a statement. “We need coordinated reforms, not a patchwork of projects. That is the only way to defend the country from a new generation of cyber threats.”

Mr. Redoble criticized the country’s reliance on ceremonial and piecemeal approaches, calling for a whole-of-nation strategy anchored in robust policy, clear standards, reliable infrastructure and a skilled workforce.

He also cited the importance of international cooperation, noting that most cyber threats today cross borders and cannot be managed in isolation.

The industry group pointed to gaps in the Department of Information and Communications Technology’s (DICT) cybersecurity projects. Despite claims of enhanced monitoring and defense, government systems “remain alarmingly exposed,” it said.

The group’s advocacy includes aligning legislation and security protocols with global best practices, establishing coordinated national incident-response systems and investing in human-capacity development.

Its members include cybersecurity practitioners, educators, researchers, law-enforcement partners and technology professionals.

Cybersecurity incidents are already affecting local businesses. US cyber defense firm BlueVoyant earlier said 84.5% of Philippine organizations reported an average of three breaches each in 2024, largely due to gaps in third-party cyber risk management.

Mr. Redoble said consistent policies and unified standards would reduce vulnerability across the public and private sectors.

Industry experts say the Philippine government’s growing reliance on digital services — from online banking to public-sector platforms — makes the lack of coordinated cybersecurity increasingly risky.

Without an integrated national framework, both sensitive data and critical infrastructure remain at risk from evolving threats, including ransomware, supply-chain attacks and state-backed cyber operations.

The industry call comes as regional cybersecurity threats escalate and the Philippines seeks to strengthen its digital economy while safeguarding sensitive information against both criminal and geopolitical actors. — Beatriz Marie D. Cruz

Stocks sink to two-week low on economic woes

REUTERS

PHILIPPINE STOCKS dropped to a two-week low on Wednesday on increased selling pressure due to the peso’s weakness against the dollar and economic concerns.

The bellwether Philippine Stock Exchange index (PSEi) fell by 1.47% or 88.56 points to close at 5,905.84, while the broader all shares index decreased by 0.3% or 10.71 points to end at 3,464.79.

This was the PSEi’s worst finish in two weeks or since it closed at 5,813.71 on Nov. 19.

“The local bourse closed lower as profit taking and selling pressure emerged in today’s session. Market sentiment was subdued due to the depreciation of the peso against the dollar. Overall trading remained cautious as investors awaited clearer market signals,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“The local market dropped with concerns on our country’s fiscal position and growth outlook fueling negative sentiment. Investors digested the latest national government outstanding debt data which posted an increase, partly because of the peso’s depreciation,” Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.

On Wednesday, the local unit fell by 39.9 centavos to close at P58.92 versus the greenback from its P58.521 finish on Tuesday, Bankers Association of the Philippines data showed.

This was also a near two-week trough for the peso as this was its weakest close since ending at P59.065 per dollar on Nov. 20.

The National Government’s (NG) outstanding debt rose by 0.61% to P17.562 trillion in October from P17.46 trillion at end-September, data from the Bureau of the Treasury showed. This was 1.2% higher than the P17.36-trillion projected debt level by end-2025.

Year on year, NG debt jumped by 9.62% from P16.02 trillion as of October 2024, the Treasury said.

“The Organisation for Economic Co-operation and Development’s downward revision of its Philippine economic growth forecasts for 2025 and 2026 to 4.7% and 5.1% respectively also weighed on the local bourse,” Mr. Tantiangco added.

Most sectoral indices ended lower on Wednesday. Services sank by 2.61% or 63.61 points to 2,372.18; financials decreased by 1.16% or 23.07 points to 1,956.54; industrials went down by 1.04% or 89.90 points to 8,531.96; holding firms fell by 0.89% or 42.49 points to 4,697.64; and property declined by 0.5% or 11.19 points to 2,191.29.

Meanwhile, mining and oil rose by 0.34% or 47.58 points to 13,898.99.

Decliners outnumbered advancers, 105 to 86, while 46 names closed unchanged.

“Converge ICT Solutions, Inc. was the day’s index leader, climbing 3.63% to P16. DigiPlus Interactive Corp. performed the worst, dropping 5.46% to P22.50,” Mr. Tantiangco said.

Value turnover went up to P6.87 billion on Wednesday with 889.92 million shares traded from the P5.49 billion with 1.13 billion issues exchanged on Tuesday.

Net foreign selling ballooned to P1.25 billion from P179.48 million. — Alexandria Grace C. Magno

Green Archers stun the Bulldogs to force a sudden-death Game 2

UAAP/NICOLE HERNANDEZ

DE LA SALLE University (DLSU) lived on to fight another day, stunning the top-ranked National University (NU) with an 87-77 win to force a sudden-death Game 2 in the UAAP Season 88 men’s basketball Final Four on Wednesday at the Smart Araneta Coliseum.

The DLSU Green Archers, ranked fourth in the semifinals, were swept by the NU Bulldogs in the eliminations but reminded them why they’re the back-to-back finalists for a reason with grit and grind when it mattered most to neutralize the latter’s twice-to-beat advantage.

La Salle, buoyed by the full-swing return of Kean Baclaan and Mason Amos from MCL injuries, and NU clash once more on Saturday for a seat in the finals against either titleholder and No. 2 seed University of the Philippines (UP) or third-ranked University of Santo Tomas. UP holds a win-once bonus like NU.

The Green Archers, who surrendered their throne to the UP Fighting Maroons last season, are now 3-0 against the Bulldogs in Final Four games, winning both in 2001 and 2023 as the higher seeds.

“We just prolonged the series. These guys just decided to have more practices (and games) with each other. We’re up against the No. 1 team so we knew we’re gonna have to battle it out. We’re just extremely grateful and blessed to have one more game,” said coach Topex Robinson, who has not missed the finals since inheriting the storied La Salle program.

La Salle kept on course for that bid, a third finals in a row, amidst a crippled crew that led to a shaky campaign midway through the second round before righting the ship in the nick of time with two straight wins to catch the last semis bus.

And there was no stopping for the Green Archers from there, picking from where they left off and catching the Bulldogs off guard with a blistering 22-9 start that set the tone for the 10-point win.

Jacob Cortez, Vhoris Marasigan and EJ Gollena fired 13, 11 and 10 points, respectively, while captain and Elite Team member Mike Phillips collared 12 points, 17 rebounds, two blocks, an assist and a steal.

JC Macalalag and Luis Pablo added nine points each, Mr. Amos added eight while Earl Abadam and Mr. Baclaan threw in six points each as La Salle showcased its depth in toppling the mighty NU squad that lost only three games in the two-round elims.

It’s the first game for Mr. Baclaan in a month while Mr. Amos returned in La Salle’s penultimate game in the elims against UP, coming up clutch with six points in the payoff period including the dagger trey in the last four minutes for an 81-65 lead.

While La Salle waxed hot early with a 13-point lead in the first half, NU as expected swung back and came to as close as 46-48 at the turn but the Green Archers’ depth proved too much with yet another rally for a comfortable 69-54 cushion entering the fourth quarter.

The Bulldogs attempted one last hurrah to strike within 74-83 in the final minute until Mr. Macalalag slammed the door on any possible comeback with a booming triple heading home to the final count.

Elite Team member Jake Figueroa and Omar John posted 20 and 12 points, respectively, for the Bulldogs, who despite the loss still need just one win to advance should they get their acts together from this deflating defeat in Game 2.

In women’s basketball, reigning champion and second seed NU sealed a finals trilogy with unbeaten Santo Tomas after a 67-66 escape act from the third-ranked Ateneo in the stepladder semifinals.

Angel Surada drained the game-winning free throw in the last 0.6 second for 15 points while Marga Villanueva, Kristine Cayabyab and Karl Ann Pingol added 16, 15 and 10 points, respectively, for the Lady Bulldogs, who notched their 11th straight finals appearance.

The scores:

DLSU 87 – Cortez 13, Phillips 12, Gollena 11, Marasigan 10, Pablo 9, Macalalag 9, Amos 8, Abadam 6, Baclaan 6, Dungo 3, Nwankwo 0

NU 77 – Figueroa 20, John 12, Enriquez 8, Manansala 8, Jumamoy 7, Francisco 6, Palacielo 6, Garcia 4, Santiago 2, Padrones 2, Parks 2, Dela Cruz 0, Tulabut 0

Quarterscores: 28-17, 48-46, 67-54, 87-77. — John Bryan Ulanday

The best of South America clashes with the titan of Europe in FIFA Futsal Women’s World Cup last four

EMILLY MARCONDES of Brazil — FACEBOOK.COM/FIFAWOMENSWORLDCUP

Matches on Friday
(PhilSports Arena)
6 p.m. – Argentina vs Portugal
8:30 p.m. – Spain vs Brazil

IN-FORM Emilly and top-ranked Brazil asserted their mastery of Asia’s best Japan, 6-1, to forge a blockbuster duel with No. 2 Spain in the FIFA Futsal Women’s World Cup semifinals.

Emilly, the Best Women’s Player in the 2024 Futsal Planet awards, fired two rockets in the first 11 minutes and added a third strike late to spark the Brazilians’ dispatching of world No. 5 Japan in the well-attended quarterfinal match at the PhilSports Arena.

Ana Luiza (9th), Debora Vanin (13th) and Luana (14th) also got on the act as rampaging Seleção stamped their class on the reigning Asian titlists, who only avoided a shutout when Brazil keeper Julia deflected Mizuki Nakamura’s attempt into their own net at the 36th.

Emilly’s hat trick put her scoring tally up to six in the tournament supported by the Philippine Sports Commission and Philippine Football Federation for a tie for first with Spain ace Irene Cordoba in the race for the Golden Boot award.

The five-goal verdict sent the South American champions to a salivating Last-4 encounter with the Euro royalty Spaniards, who advanced via a 6-1 drubbing of Morocco in their side of the quarterfinals last Monday.

Meanwhile, world No. 3 Portugal lived up to its billing in a 7-2 drubbing of No. 7 Italy that set it up with No. 6 Argentina, which reached the semis first with a 4-1 verdict over Morocco last Monday.

Lidia Moreira found the back of the net thrice (sixth, 21st and 35th) while Janice Silva shot a brace (24th and 39th) and Carolina Pedreira (fifth) and Kika (28th) rounded out the Portuguese’s scoring parade.

The Final Four twin-bill that both pit a South American titan against a European giant erupts on Friday. — Olmin Leyba

Brownlee teams up with Hollis-Jefferson for Meralco Bolts in East Asia Super League

RONDAE HOLLIS-JEFFERSON (L) and Justin Brownlee — EASL

THE dream team-up of rivals Rondae Hollis-Jefferson (RHJ) and Justin Brownlee (JB) for the Meralco Bolts is about to explode.

After a bout with pneumonia forced Mr. Brownlee to miss the first four games of their campaign in the East Asia Super League (EASL), RHJ and JB finally linked up at the Bolts’ practice on Wednesday at Upper Deck.

Photos and reels of the two working out with the Bolts made the rounds on social media, generating excitement for fans eager to see the Hollis-Jefferson and Brownlee join forces after engaging in epic showdowns for TNT and Ginebra in the PBA and the Asian Games gold medal match for Jordan and Gilas Pilipinas.

Mr. Brownlee, fresh from leading the Nationals to a two-game sweep of Guam in the first window of the FIBA World Cup Asian Qualifiers, will assume the naturalized player spot for Meralco. He is expected to make his debut when the Bolts (2-2) seek a repeat against the Macau Black Bears (0-1) on Saturday at the Capital Arena in Ilagan City.

The two stalwart imports from the PBA won’t be carrying all the load for Meralco, though.

They have as teammates Puerto Rican national mainstay Ismael Romero, who was named EASL Player of the Month for November with his 24.3-point, 19.7-rebound average in Meralco’s two wins in three outings, and Asian reinforcement Sina Vahedi, the Iranian ace who delivered a Best Player of the Game-earning 22-7 performance in their opening win over the Taoyuan Pauian Pilots, 85-76.

Mr. Brownlee’s Gilas teammate Chris Newsome along with Chris Banchero, Cliff Hodge, Bong Quinto, Raymond Almazan and CJ Cansino are expected to step up among the Bolts’ locals. — Olmin Leyba

Anthony Edwards’ 44 points propel Minnesota Timberwolves past New Orleans Pelicans in OT

ANTHONY EDWARDS scored 44 points as the Minnesota Timberwolves overturned a 13-point first-half deficit to defeat the host New Orleans Pelicans, 149-142, in overtime (OT) on Tuesday.

Edwards hit six of 13 from 3-point range, while playing 47:27 — his only rest was in the second quarter.

Rudy Gobert paired 26 points with 13 rebounds, Naz Reid finished with 18 points, Jaden McDaniels added 17 and Julius Randle 16.

Trey Murphy III posted 33 points and 15 boards for New Orleans in his return from an elbow injury.

Saddiq Bey contributed 22 points, while rookies Derik Queen and Jeremiah Fears both had 21.

The Pelicans were up 129-125 and in possession late in regulation, when Donte DiVincenzo stole the ball from Jose Alvarado for a McDaniels bucket.

Then, after Fears missed a runner with 13.6 seconds, Edwards squared it at the other end, laying it up with 2.3 ticks remaining, before Queen missed the go-ahead runner over Gobert on the bell.

New Orleans became plagued by turnovers down the stretch, and couldn’t contain Randle, Gobert and Edwards in the extension.

Gobert set the early tone for Minnesota with 10 points and six boards in the opening frame, at the end of which the Timberwolves led 31-25.

Reid followed Gobert’s example with 13 second-quarter points in nine minutes off the bench, but Minnesota was otherwise stifled by the Pelicans’ defense, which successfully kept the ball out of Edwards’ hands during that stretch.

New Orleans shot 15 of 23 for the period. The Pelicans turned a 55-all ballgame into a 68-55 lead before Gobert’s three-point play sliced it to 68-58 after three.

Edwards went to the floor in pain after his right knee collided into Micah Peavy’s knee with 4:05 left in the third, but the Timberwolves star shrugged off the injury scare to dominate the quarter. — Reuters

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