JRU outlasts LPU in five-set thriller, earns Final Four slot

July 13, 2022 | 12:01 am

JOSÉ Rizal University (JRU) outlasted Lyceum of the Philippines University (LPU) in the fifth and final set, 25-11, 16-25, 17-25, 25-21, 17-15, on Tuesday to complete a semifinal return since 2018 in the NCAA Season 97 volleyball at the Paco Arena.

Sydney Mae Niegos came through big particularly in the deciding set where she had key blocks and finished with a team-best 14 points while skipper Dolly Versoza chipped in 11 hits including 10 on spikes to help power the Lady Bombers seal the fourth and last seat to the stepladder semis.

There, JRU clashes with No. 3 San Sebastian in another knockout game for the former set on Friday with the winner battling No. 2 Arellano University.

The victor of the stepladder phase will battle College of St. Benilde, which swept its way straight to the finals with nine wins, in the best-of-three championships.

JRU actually ended up tied at No. 4 with idle Mapua on 5-4 records but took the last slot—its second semis appearance since making it that far four years ago—with a better quotient score.

“I’m lost for words, but I’m very proud of the girls,” said an emotional JRU coach Mia Tioseco.

It was particularly memorable for Ms. Versoza, who will graduate with at two Final Four appearances as she was part of that historic JRU squad that had advanced that far for the first time since the school decided to bring back the volleyball program in 2008.

“We’re very excited and very happy for the whole JRU community,” said Ms. Tioseco.

In contrast, it was a heartbreaking defeat for the Lady Pirates, who were seeking a date with destiny as they had never made it the playoff round in the sport since joining the first and oldest collegiate league in the land 11 years back.

Meanwhile, the league forfeited the non-bearing game between University of Perpetual Help and San Beda due to health reasons. — Joey Villar

How PSEi member stocks performed — July 12, 2022

July 13, 2022 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Tuesday, July 12, 2022.

PHL shares decline as peso continues to weaken

July 12, 2022 | 9:00 pm

STOCKS closed lower on Tuesday ahead of the release of firms’ second quarter earnings and as the peso continued to weaken against the dollar.

The benchmark Philippine Stock Exchange index (PSEi) went down by 38.70 points or 0.60% to close at 6,349.94 on Tuesday, while the broader all shares index retreated by 11.87 points or 0.34% to 3,409.91.

“The local bourse ended in red territory, mirroring Wall Street’s negative performance, as investors await the release of second-quarter earnings,” Timson Securities, Inc. Head of Online Trading Marc Kebinson L. Lood said in a Viber message.

Mr. Lood said investors are concerned that higher prices, worsening consumer sentiment, and rising interest rates may impact firms’ profitability and result in selling.

“PSEi ended in red as the market anticipates US inflation due out tomorrow (July 13) while peso breaching P56-level once again has led to more foreign outflows and has stirred negative sentiment on index bellwethers, SM and AC, due to both huge dollar debt exposure,” AP Securities, Inc. Equity Research Analyst Carlos Angelo O. Temporal said in a Viber message, referring to the ticker symbols of SM Investments Corp. and Ayala Corp.

Net foreign selling climbed to P323.17 million on Tuesday from the P98.20 million recorded the previous trading day.

The peso closed at P56.37 versus the dollar on Tuesday, down by 39.1 centavos from Monday’s P55.979 finish, data from the Bankers Association of the Philippines’ website showed.

This is a new near 18-year low for the local unit as it was its worst close since Nov. 5, 2004’s P56.38 a dollar.

The peso’s intraday low of P56.45 versus the greenback on Tuesday also matched the record low set on Oct. 14. 2004.

Sectoral indices were split on Tuesday. Mining and oil climbed by 105.20 points or 0.95% to 11,096.17; financials went up by 11.37 or 0.75% to 1,526.08; and industrials rose by 29.37 points or 0.31% to 9,371.98.

Meanwhile, holding firms dropped by 90.18 points or 1.49% to 5,942.43; services decreased by 17.44 points or 1.03% to 1,668.28; and property retreated by 8 points or 0.27% to 2,875.46.

Value turnover went up to P4.19 billion on Tuesday with 955.85 million shares changing hands from the P3.75 billion with 775.46 million shares seen the previous trading day, PSE data showed.

Decliners outnumbered advancers, 105 versus 82, while 49 names closed unchanged.

Both analysts said the market may continue moving sideways on Wednesday ahead of the release of the latest US consumer price index data.

Timson Securities’ Mr. Lood placed the PSEi’s support at 5,900 and resistance at the 6,700 area. Meanwhile, AP Securities’ Mr. Temporal put support at 5,700 to 6,000 and resistance at 6,400 to 6,500. — J.I.DP. Tabile

Second Cabinet meeting focused on DPWH budget

July 12, 2022 | 8:34 pm

PRESIDENT Ferdinand R. Marcos, Jr. on Tuesday held his second Cabinet meeting, which was focused on preparations for the 2023 budget, specifically that of the Department of Public Works and Highways (DPWH).

The meeting was held virtually after the President caught the coronavirus, Press Secretary Rose Beatrix Cruz-Angeles said in a message to reporters.

Citing the Department of Budget and Management’s (DBM) presentation at the meeting, Ms. Cruz-Angeles said the national budget for 2023 will promote a “broad-based and inclusive” economic recovery. She did not elaborate.

Last week, Budget Secretary Amenah Pangandaman said the DBM is aiming to submit a P5.268-trillion budget to Congress on Aug. 22.

The DBM is keeping the 2023 spending plan within ceilings proposed by the previous administration.

The DBM has said that the 2023 budget would be geared towards agriculture and food security, climate change adaptation, economic recovery, improved healthcare and education, and enhanced infrastructure projects including digital infrastructure, among others.

At the second Cabinet meeting of the Presidential term, the DPWH discussed its plans for continuing Build, Build, Build program, Ms. Cruz-Angeles said, without discussing any possible revisions of the previous government’s flagship project lineup.

Public Works Secretary Manuel M. Bonoan has said that Mr. Marcos instructed the department to weigh its priority project list towards works that improve food security.

Mr. Marcos, who heads the Agriculture department, has signaled that he will boost domestic production and rely less on food imports to address the impending food crisis, and promised to significantly raise production of rice and corn.

The Department of Transportation also discussed its priority programs and projects at the meeting, Ms. Cruz-Angeles said.

Mr. Marcos, 64, tested positive for COVID-19 on Friday. On Monday, his lead physician said in a note sent to reporters that the President was still experiencing “very mild nasal stuffiness and nasal itchiness” but his cough had disappeared.

“Additional medications were given to address his concerns and all other medicines were advised to be continued,” according to the note. “He is still with no fever and body malaise.”

In a separate statement released late on Tuesday, Ms. Cruz-Angeles said concerns about workers’ skills were also raised during the Cabinet meeting.

“Among the suggestions to address these standing issues include a reform of the current curriculum since the rise of automation has posed a threat to many jobs,” she said.

In his presentation, Trade Secretary Alfredo E. Pascual underscored the need for a review of education curricula, Ms. Cruz-Angeles said.

Mr. Pascual said the Department of Trade and Industry (DTI) is ramping up efforts to help universities develop micro-credentialing systems to catch up with technological developments, according to the statement.

“We’re developing or helping universities develop this system of micro-credentialing because technology is changing very fast. There is a need for workers to update themselves, to reskill or upskill,” Mr. Pascual was qouted as saying.

Mr. Pascual also proposed to send teachers overseas for training. “Vietnam, for example, sends teachers to the United States and Europe for advanced studies,” he said.

Mr. Pascual said the DTI will collaborate closely with the Department of Education, Commission on Higher Education, and TESDA to address the issue of job skills mismatches. — Kyle Aristophere T. Atienza

Price hike applications for noodles, canned sardines enter final review

July 12, 2022 | 8:34 pm

THE Trade department is in the final stages of reviewing petitions to raise prices from producers of canned sardines and instant noodles, among others, an official said.

Trade Undersecretary Ruth B. Castelo said during BusinessWorld Live on One News Channel on Tuesday said price hike proposals were also received by the Department of Trade and Industry (DTI) from manufacturers of canned meat, coffee, bread, and detergent.

“We are still in the final stages of reviewing our recommendations for the Secretary (Alfredo E. Pascual). We are not saying that we are definitely increasing prices because we’re not yet done with the study,” Ms. Castelo said.

“It could take us probably a couple of weeks for us to complete and submit our recommendation for approval, and another couple of weeks probably for the Secretary to approve and for us to (move to) publication,” she added.

According to Ms. Castelo, the DTI only allows 30% of the 218 shelf keeping units that are included in its suggested retail price (SRP) bulletin to implement price increases at any one time. The DTI issued the latest SRP bulletin in May.

“We limit it to 30%… so that the consumers will find it easier to, and will have other choices also to buy, when they go out to the supermarket,” Ms. Castelo said.

Ms. Castelo said the price hike proposals cited the higher cost of raw materials such as wheat, as well as the weak peso and higher logistics costs.

“We negotiate with the manufacturers, we appeal to their corporate social responsibility, so that they will agree to (raise price sin) tranches, if ever, or agree to negotiate a lower price increase, if ever,” Ms. Castelo said.

Under Republic Act No. 7581 or the Price Act, the Trade Secretary is authorized to issue suggested retail prices for any or all basic necessities and prime commodities to serve as guide for consumers, producers, manufacturers, traders, dealers, sellers, and retailers. — Revin Mikhael D. Ochave

PCCI notes deteriorating business conditions due to energy costs, logistics

July 12, 2022 | 8:34 pm

THE Philippine Chamber of Commerce and Industry (PCCI) said business conditions have deteriorated for exporters due to rising energy costs and logistics bottlenecks.

PCCI Vice-President for Industry Affairs Ferdinand A. Ferrer said during the launch of the 48^th Philippine Business Conference and Expo (PBC&E) in Manila on Tuesday that “Exporters have been hit with high energy costs, high logistics costs, as well as supply chain disruption. It’s very taxing now, very challenging for exporters. It is not only in the Philippines that it is happening. It is happening globally. So, whether you are in Asia, Europe, or in other parts of the world, every manufacturing or export-oriented business is experiencing (this),” Mr. Ferrer said.

“The cost of doing business now has increased. We have to find ways to be more competitive versus our neighbors. Our neighbors are also in the same boat in trying to attract investors. We have Vietnam, Thailand, and Indonesia. That’s where we really need to gear up,” he added.

Mr. Ferrer, who is also the chairman of the Expo, added that many exporters are on the lookout for measures to soften the blow from their energy and logistics bills.

“The impact of high fuel charges has significantly increased the cost of manufacturing not just in the Philippines, but all over the whole world. We’re on a level playing field, but for companies, it is a painful burden to pay. Everybody is trying to look for innovative ways on how to save,” Mr. Ferrer said.

“Logistics costs are also very expensive. Not just the fuel. To send cargo… from here to the US… it is three and a half times (pre-pandemic levels),” he added.

“We hope that in the next six months, conditions ease up. But right now… we don’t see any relief from the Ukraine-Russia conflict,” Mr. Ferrer said.

Separately, Mr. Ferrer projected the gross domestic product will grow by 6% to 6.5% in the second half, with 8% growth attainable if face-to-face classes resume.

“We’re really opening up already. More businesses are confident. We are all traveling locally now. We are all spending again. All of us. I think the comfort level is getting better and better,” Mr. Ferrer said.

Mr. Ferrer added that the chamber “wants to work with the new administration as partners. It cannot be government alone or businesses alone. It should be together.”

“The weight of boosting the economy shall not be carried solely by the government. The business community will be its trusted anchor to keep the Philippine economy afloat as we have always been,” he added.

PCCI President George T. Barcelon said that he is hoping that the first State of the Nation address of President Ferdinand R. Marcos, Jr. on July 25 will reveal the outlines of the government’s plan.

“We hope that we can hear more specific deliverables… on the side of job creation and how we can attract more foreign investment not only in manufacturing but even in the agriculture sector,” Mr. Barcelon said.

“The other issue that we would really like to hear is ease of doing business, streamlining (transactions with government) to make operating business easier,” he added.

The PCCI will be hosting the 48^th PBC&E on Oct. 19 and 20 at the Manila Hotel.

“The 48^th PBC&E will be looking at how the new government will build on reform measures to strengthen the country’s economic gains… and make a real difference to the economy and the Filipino people,” the PCCI said. — Revin Mikhael D. Ochave

Philippines won’t close borders amid rising cases

July 12, 2022 | 8:33 pm

public market-crowd — PHILIPPINE STAR/ RUSSEL PALMA

THE PHILIPPINES is unlikely to restrict its borders again despite rising coronavirus infections spurred by more contagious Omicron subvariants, health authorities said on Tuesday.

“We don’t recommend further restrictions on our borders… but we would like to remain vigilant,” Health Undersecretary Maria Rosario S. Vergeire told reporters in mixed English and Filipino, adding that the country could not remain closed forever.

“Our surveillance system is up, we’re closely monitoring it, we’re prepared in our communities and hospitals if and when cases continue to rise in our country,” she added.

“Infections are expected because of the continuous mutation of the virus and transmission.”

The more contagious Omicron BA.2.75 subvariant has been detected in India, the US and several other countries, according to the World Health Organization. The Chinese city of Shanghai has also discovered the Omicron BA.5.2.1 subvariant.

The government should ensure that the number of severe and critical patients remain low, Ms. Vergeire said.

Coronavirus vaccines remain effective in preventing severe and critical infections from more contagious subvariants, she added.

The Philippines logged 79 more cases of highly contagious Omicron subvariants, Ms. Vergeire said.

Despite this, the country remained at low risk from the coronavirus, she added.

DoH found 60 more cases of the Omicron BA.5, 17 more cases of the BA2.12.1 and two more cases of the BA.4 in the latest whole genome sequencing.

The country now had 293 BA.5 cases, 87 BA.2.12.1 cases and 12 BA.4 cases.

Of the new BA.5 patients, 58 came from Western Visayas and one each from the Davao and Soccsksargen regions. One of them had mild symptoms.

“The disease severity of the remaining 59 were still being verified.”

Ms. Vergeire said 43 people have recovered, while 14 were still in isolation. “The outcomes of the rest were still being verified.”

Of the 17 new BA2.12.1 patients, six came from Western Visayas, 10 from Davao, and one was a returning migrant Filipino, she said.

Two of them showed mild symptoms, one had severe symptoms and another was asymptomatic. The status of the others was still being verified.

Ms. Vergeire said 15 of the new BA2.12.1 patients have recovered, while two were still in isolation.

She said the two new BA.4 patients came from Davao and Soccsksargen. Both of them showed mild symptoms and have recovered.

Ms. Vergeire said the Philippines remained at low risk from the coronavirus despite rising infections. Fewer than 1,000 patients have had a severe or critical infection since mid-March, she added.

More than 71 million people had been fully vaccinated against the virus as of July 11, while 15.3 million have received their first booster shot, Ms. Vergeire said. More than 954,000 have been injected with a second booster.

Meanwhile, Ms. Vergeire said infections could peak by the end of July due to low booster uptake and increased movement of people. More patients could get hospitalized from August to September, she separately told CNN Philippines.

“But nothing is certain, these are all projections,” she said. “There are a lot of things that can contribute to us not reaching this or reaching that as early as maybe the third week of July.”

On Monday, the Department of Health (DoH) said the average daily coronavirus infections in the Philippines rose by 39% last week to 1,467 from a week earlier.

Infections on July 4 to 10 hit 10,271, while severe and critical cases reached 27, it said in a bulletin.

Of the 50 new deaths, one occured in May, three in February, and eight in January. There rest occured in the past two years.

DoH said 411 of 2,414 intensive care unit (ICU) beds had been used as of July 10, while 4,863 of 21,424 non-ICU beds were occupied. There were 555 severe and critical admissions.

Fredegusto P. David, a fellow at the OCTA Research Group, tweeted on Sunday night that the positivity rate in Metro Manila had risen to 10.9%, breaching the threshold set by the World Health Organization (WHO).

The infection rate should remain below 5% to keep coronavirus cases under control, according to the international agency. — Kyle Aristophere T. Atienza

Ports agency studying ways to implement DoTr directive to cut shipping, travel costs

July 12, 2022 | 8:32 pm

THE Philippine Ports Authority (PPA) is looking into reducing port costs by reviewing statutory and regulatory expenses paid by users, Officer-in-Charge General Manager Manuel A. Boholano said, noting that the agency is under orders to effect such reductions from the Department of Transportation (DoTr).

“Our first order of business is to comply with the directive of (Transportation Secretary Jaime J. Bautista) to lower travel and shipping costs,” Mr. Boholano said in his anniversary message delivered during the 48^th anniversary of the agency on Tuesday.

Port users have been complaining about increasing shipping costs and the impact of higher fuel oil prices.

Shipping companies have raised their freight charges by an average of 25% starting March, logistics companies said.

“Fuel prices continued to increase with the Ukraine conflict and this pushed the group’s bunkering cost to P486 million, a 43% increase year on year. Consequently, cost of sales and services escalated to P1.22 billion,” Chelsea Logistics and Infrastructure Holdings Corp. said in its first quarter report.

Lorenzo Shipping Corp. said in its report for the first quarter that it saw “an increase in direct cost amounting to P796 million from last year of P711 million mainly due to soaring fuel prices.”

Industrial designer Kenneth Cobonpue said during The Chiefs on One News program last week that cargo shipping rates have risen significantly.

“In terms of exports, shipping, logistics (are) a big problem. Before, a 40-foot (container) shipping from Cebu to Los Angeles used to cost $3,000. Now the price is anywhere from $15,000 to $18,000. That price really wipes out all the margins. That’s the problem with exports,” Mr. Cobonpue said.

The PPA said that any possible reduction in port-related costs will come on top of the current terminal fee exemptions enjoyed by students, senior citizens, differently-abled persons, uniformed personnel, and Medal of Valor awardees and their first-degree kin.

“Since its first application prior to the pandemic, the free terminal fee is equivalent to a benefit (that costs) P7 million a month (on) average,” it noted.

The agency also said that its ports “continue to climb out” of the pandemic, citing an increase of 130% to 20.87 million passengers handled from January to May 2022, from 9.07 million passengers a year earlier.

Containerized cargo traffic grew by 3.84% to 3.12 million twenty-foot equivalent units (TEUs) from 3 million TEUs previously.

Meanwhile, ship calls rose 13.4% for the period compared to 153,007 ship calls in the same period last year.

Total cargo volume remains flat at 101.74 million metric tons, the PPA said. — Arjay L. Balinbin

Japan eyes better Philippine Coast Guard equipment

July 12, 2022 | 8:32 pm

BRP Melchora Aquino — PHILIPPINE COAST GUARD FACEBOOK PAGE

By Alyssa Nicole O. Tan, Reporter

JAPAN wants to boost coast guard and security cooperation with the Philippines, Japan’s Ministry of Foreign Affairs said in a statement on Tuesday.

Japan Foreign Affairs Minister Hayashi Yoshimasa had also sought “asset reinforcement and capacity enhancement” of the Philippine Coast Guard, the agency said on its website, citing a phone call between the Japanese official and his Philippine counterpart, Enrique A. Manalo.

“In response, Secretary Manalo expressed his appreciation for Japan’s cooperation thus far and willingness to strengthen cooperation in the aforementioned fields,” according to the statement.

Both agreed to advance working-level consultations on improved cooperation such as in exercises between the Self-Defense Forces and Armed Forces of the Philippines.

“We both reaffirmed the strong and mutually beneficial Philippine-Japan strategic partnership and committed to continue our vibrant cooperation on maritime issues, trade and economy, infrastructure development and other areas,” Mr. Manalo separately tweeted on Tuesday.

Meanwhile, defense experts said an alliance with its neighbors is the Philippines’ strongest strategy against China’s militarization of the South China Sea.

“Although diplomacy and the peaceful settlement of disputes are important, the Philippine government must not allow any state to circumvent international law and threaten the country’s national security,” Stratbase ADR Institute President Victor Andres Manhit told a forum.

“The new administration should prioritize the development of policies that will allow the country to step up and strategically work with allies and partners to ensure that international laws, treaties and agreements in the preservation of a rules-based international order are being strictly followed,” he added.

The forum in Manila was held on the sixth anniversary of a United Nations-backed tribunal’s ruling that voided China’s claim to more than 80% of the waterway.

Mr. Manhit renewed the call for the government to uphold its sovereignty and territorial integrity.

The South China Sea, a key global shipping route, is subject to overlapping territorial claims involving the Philippines, China, Brunei, Malaysia, Taiwan and Vietnam. Each year, trillions of dollars of trade flow through the sea, which is also rich in fish and gas.

Former Philippine Foreign Affairs Secretary Albert F. del Rosario said the Marcos government would have to deal with China.

“In the contest between China and the US in terms of real allies… I go back to the belief that China is out to devastate… the rules-based order,” he told reporters on the sidelines of the forum. “They’re out to demolish the rule of law.”

“For those who believe in the rule of law and rules-based order, we should… get together with our allies, stay together and stay strong,” he said.

Philippine Ambassador to the US Jose Manuel G. Romualdez, on the other hand, said the Philippine position remains the same. “We want to solve issues peacefully and in keeping with international law.”

President Ferdinand R. Marcos, Jr. seems to be working in such a way that the Philippines would benefit from both China and the US, as well as from allies like Japan, the EU and Australia, said Murray Hiebert, director for research at Bower Group Asia and a senior associate at the Center for Strategic and International Studies. “Economic and diplomatic costs” might be inevitable to stop China’s “aggressive behavior,” he told the forum. John Blaxland, an intelligence studies professor from the Australia National University, said China is taking advantage of the Philippines’ desire to remain neutral.

“You are being the victims of exploitation by a China that is throwing its weight around understandably to grind economic and military power,” he said at the forum. The Philippines needs to be more “hard-nosed about its interests.” Ex-President Rodrigo R. Duterte led a foreign policy pivot to China away from the US when he took office in 2016 in exchange for investment pledges, most of which have never materialized. “The Philippines has to find a way to balance this very tense environment between China and the United States,” Mr. Hiebert said.

Lisa Curtis, director of the Indo-Pacific security program of the Center for a New American Security, said the Philippines should be “subtle about how they address China’s assertiveness,” noting that it must always remain nuanced and clever.

Rising prices top concern among Filipinos — Pulse Asia

July 12, 2022 | 8:31 pm

wet-market-fish — PHILIPPINE STAR/ WALTER BOLLOZOS

SPIRALING prices are the top concerns of Filipinos in a June poll by Pulse Asia Research, Inc.

Six of 10 Filipinos or 57% identified inflation as the most urgent national concern that President Ferdinand R. Marcos, Jr. should prioritize, Pulse Asia said in a statement on Tuesday.

Filipinos were also worried about their income (46%), poverty (33%) and jobs (29%).

People were less worried about state cash aid amid a coronavirus pandemic, and fighting corruption and hunger, Pulse Asia said.

The pollster interviewed 1,200 adults on June 24 to 27 for the poll, which had an error margin of ±2.8 points.

A recent survey by market research firm Ipsos Group S.A. showed that inflation, which is expected to be the main feature of 2022, is the biggest concern of people around the world.

“On average globally, almost one in four say inflation is a top issue facing their country (37%), up three points from last month,” it said in a report, citing its survey from May 27 to June 6. The concern about inflation had risen for 11 straight months, it added.

Included in the top five global worries were concerns about poverty and social inequality (31%), unemployment (28%), crime & violence (27%) and financial or political corruption (24%), the research firm said.

Inflation has forced the government to temper its economic growth target this year.

The government is now aiming for growth of 6.5-7.5% this year, slightly lower than the 7-8% target earlier set by the Development Budget Coordination Committee (DBCC), but faster than the 5.7% expansion last year.

The government also seeks to bring down the poverty rate to 9% by the end of Mr. Marcos’ term in 2028.

His predecessor, Rodrigo R. Duterte, had aimed to bring down the poverty rate to 13-15% by 2022, but this was revised to 15-17.5% due to the pandemic. The poverty rate stood at 23.7% at the end of June.

Mr. Marcos, 64, has promised cheaper food, more jobs and better infrastructure, urging overseas workers to come back because a prosperous future supposedly awaits them.

But experts said he would be hunted by the country’s ballooning external debt, which might force him to take a different path.

Mr. Marcos’ Finance chief, Benjamin E. Diokno, has pushed new taxes on digital services and pollutants, but analysts said these might not be enough to bail the country out of its ballooning debt. — Kyle Aristophere T. Atienza

Former DA chief says rice law made smuggling easier

July 12, 2022 | 8:30 pm

THE Rice Tariffication Law must be amended to re-establish the role of the National Food Authority (NFA) as industry regulator, after the liberalization of imports opened the doors to rampant smuggling of the staple grain, former Agriculture Secretary Emmanuel F. Piñol said.

“We don’t need to repeal the law. We only need to amend it. Number one, we need to bring back the regulatory and supervisory powers of the NFA over the rice industry,” Mr. Piñol said on One News.

“While the government was able to collect a lot from tariffs, there is so much technical smuggling. No one is supervising what kind of rice is being brought in,” he added.

Signed in 2019, the law, also known as Republic Act No. 11203, allowed private parties to freely import the grain, on which they paid tariffs of 35% on shipments originating from Southeast Asia. It also reduced the role of the NFA, formerly the primary importer of rice via government-to-government deals, to maintaining emergency rice stocks.

The Federation of Free Farmers (FFF) urged President Ferdinand R. Marcos, Jr. and the new Congress to review the law and propose amendments as necessary.

“Officials of the Department of Finance (DoF) have been insisting that law made rice more affordable by cutting the retail price by P7 per kilo, from its alleged peak of P46 per kilo during the rice crisis in 2018,” the FFF has said.

“These figures were deceptive because they compared current rice prices to their levels in 2018, when prices were abnormally high due to the rice crisis,” it added.

FFF National Manager Raul Q. Montemayor said that although the law allowed the entry of cheaper imported rice, the savings were mostly captured by importers and traders and were not passed on to consumers.

“Also, most of the imports were for premium rice grades for sale to well-off consumers, not the more affordable grades that NFA used to import for the poor. That is why poor consumers today are actually paying almost the same as in 2016 and 2017. To top it off, the P27 per kilo rice that the NFA used to distribute has disappeared from the market,” he added.

ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said that he hopes the law is retained.

“The law was an important legislation passed by the previous administration and was instrumental in helping lower prices in the Philippines. Part of the law was the Rice Competitiveness Enhancement Fund (RCEF), which funds the improvement of domestic rice production,” he said in an e-mail.

“Given the short-term benefits, like lower rice prices, and medium-term benefits, which is improved rice production domestically, we hope that the law will not be touched,” he added.

Mr. Piñol added that he supported the decision of Mr. Marcos to take over the Department of Agriculture (DA) which would “get things going.”

“I really believe that if Mr. Marcos would like agriculture to develop and flourish during his term, he should hold on to that position until the end of his term,” he said. — Luisa Maria Jacinta C. Jocson

Agricultural and biosystems engineering law IRR signed

July 12, 2022 | 8:29 pm

robot-vegetable-farm — AGRICULTURAL & BIOSYSTEMS ENGINEERING — DON MARIANO MARCOS MEMORIAL SU FB PAGE

THE GOVERNMENT has signed the Implementing Rules and Regulations (IRR) of Republic Act No. 10915, also known as the Philippine Agricultural and Biosystems Engineering (ABE) Act of 2016, according to an official whose board regulates the ABE profession.

“The implementation of the IRR of ABE will greatly help in increasing the food production thrust of President Ferdinand R. Marcos, Jr.’s administration,” Professional Regulations Board of Agricultural and Biosystems Engineering (PRBABE) Director Ariodear C. Rico said in a statement.

Mr. Rico said that the signing of the IRR will help with future partnerships and collaboration in agriculture, fisheries, veterinary medicine and foresters.

He said that the IRR has been subjected to several rounds of consultation with various Professional Regulations Boards (PRBs).

“The main issues raised during these meetings focused on overlaps and encroachment in the practice of the profession. The PRBABE has taken these into consideration and addressed these concerns,” Mr. Rico said.

These include a rule in the IRR which states “the board, may, after due consultations with the appropriate boards and subject to the approval of the commission, enter into a joint resolution and/or appropriate memorandum of agreement to clarify, delineate or define the interface of the activities constituting their respective professional practice.”

The PRBABE added that it entered a joint resolution with the PRB of Real Estate Service on Valuation. It also signed a memorandum of agreement with the PRB of Fisheries and the PRB of Foresters. — Luisa Maria Jacinta C. Jocson

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