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How PSEi member stocks performed — March 1, 2021

Here’s a quick glance at how PSEi stocks fared on Monday, March 1, 2021.

Peso steady on PMI data, vaccination

THE PESO closed unchanged versus the greenback on Monday as the market priced in steady manufacturing activity in February and the start of the government’s vaccination drive.

The local unit closed at P48.59 per dollar on Monday, unchanged from its Friday finish, data from the Bankers Association of the Philippines showed.

The peso opened Monday’s session at P48.60 per dollar. Its weakest showing was at P48.67 while its intraday best was at P48.54 against the greenback.

Dollars traded slumped to $678.45 million on Monday from the $1.325 billion logged on Friday.

The peso’s steady close came following the release of the latest February purchasing managers’ index data, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

IHS Markit reported yesterday that the Philippines’ manufacturing PMI in February was at 52.5 for the second straight month, going beyond the 50-neutral mark and signifying growth.

The country’s reading was second best in the region next to Singapore (55.2) and was better than Vietnam (51.6) and Indonesia (50.9), Malaysia (47.7), Thailand (47.2), and coup-stricken Myanmar (27.7). It was also higher than the ASEAN average of 49.7.

A trader, meanwhile, attributed the peso’s flat finish to mixed market sentiment due to optimism over the start of vaccinations in the country and the stronger US personal consumption expenditure (PCE) inflation data released on Friday.

The Sinovac vaccines donated by the Chinese government arrived in the Philippines on Sunday and some healthcare workers were inoculated on Monday.

Meanwhile, US consumer spending increased by the most in seven months in January as the government doled out more pandemic relief money to low-income households and new COVID-19 infections dropped, positioning the economy for faster growth in the first quarter, Reuters reported.

Despite the strong rebound in consumer spending reported by the Commerce department on Friday, price pressures were muted. Inflation is being closely watched amid concerns from some quarters that US President Joseph R. Biden’s proposed $1.9-trillion COVID-19 recovery package could cause the economy to overheat.

Consumer spending, which accounts for more than two-thirds of US economic activity, jumped 2.4% last month. That was the biggest gain since last June and ended two-straight monthly declines. Personal income shot up 10%, the largest increase since last April when the government disbursed the first round of stimulus checks. Income rose 0.6% in December.

Inflation was benign last month. The PCE price index excluding the volatile food and energy component rose 0.3% after a similar gain in December. In the 12 months through January, the so-called core PCE price index increased 1.5% after advancing 1.4% in December.

The core PCE price index is the Fed’s preferred inflation measure for its 2% target, a flexible average.

For today, Mr. Ricafort gave a forecast range of P48.55 to P48.65 per dollar, while the trader sees the peso moving between the P48.50 to P48.70 band. — L.W.T. Noble with Reuters

Stocks climb on surge in US yields, vaccine arrival

LOCAL STOCKS climbed on Monday as investors chose to stay in the market after yields on US bonds surged last week.

The Philippine Stock Exchange index (PSEi) climbed 78.11 points or 1.15% to finish 6,872.97 on Monday, while the all shares index went up by 45.1 points or 1.09% to close at 4,165.4.

“Shares in the Philippine market closed on the positive as an outsized surge in bond yields spooked investors, who rushed to dump risk assets, especially high-flying technology names,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message on Monday.

“The major US averages tumbled in rapid fashion as the 10-year Treasury yield soared as high as 1.6% in a sudden move that some described as a ‘flash’ spike,” Mr. Limlingan added.

Yields on the benchmark 10-year US Treasuries surged above 1.6% last week for the first time in a year amid weaker-than-expected bids for offered seven-year notes, Reuters reported. However, US bond yields slid sharply on Monday, with the benchmark 10-year US Treasury yield falling about 5 basis points to 1.403%, off Thursday’s one-year high of 1.614%.

COL Financial Group, Inc. Chief Technical Analyst Juanis G. Barredo said the easing of US yields boosted sentiment on the local market as it eased investor concerns.

“Progress on the inoculation of the vaccines that recently arrived may have improved the sentiment,” AAA Southeast Equities, Inc. Research Head Christopher John J. Mangun added in an e-mail.

“The Philippine manufacturing sector recorded its second month of expansion in February as manufacturers rebuilt their inventory in anticipation of increased demand. This also confirmed the economy’s recovery to investors,” he added.

All sectoral indices went up on Monday. Holding firms climbed by 96.05 points or 1.38% to 7,016.13; industrials added 86.71 or 1% to finish at 8,742.05; property went up by 33.47 points or 0.96% to 3,490.61; financials rose 13.38 points or 0.9% to 1,490.57; mining and oil increased by 49.2 points or 0.52% to 9,380.87; and services inched up by 6.48 points or 0.44% to end at 1,459.84.

Value turnover declined to P8.34 billion on Monday with 8.72 billion shares switching hands from the P13.74 billion with 12.28 billion issues traded on Friday.

“Trading volumes declined as some investors opted to stay on the sidelines because of the uncertainty,” Mr. Mangun said.

Advancers outnumbered decliners, 149 versus 76, while 48 names closed unchanged.

Net foreign selling went down to P861.24 million on Monday from P972.65 million recorded the previous trading day.

Mr. Mangun said the local index may move towards the 7,000 mark in the coming days.

Meanwhile, COL Financial’s Mr. Barredo said he expects the market to close at 6,980 to 7,100. — Keren Concepcion G. Valmonte with Reuters

Manila starts vaccination of health workers

By Vann Marlo M. Villegas, Reporter

THE PHILIPPINES started immunizing its most vulnerable people against the coronavirus on Monday after receiving 600,000 doses of CoronaVac donated by China.

The head of the state-owned Philippine General Hospital (PGH) in Manila was the first to get the shot made by Chinese drug maker Sinovac Biotech Ltd.

Aside from PGH Director Gerardo D. Legaspi, also vaccinated at the hospital were Food and Drug Administration’s (FDA) Rolando Enrique Domingo and infectious disease expert Edsel T. Salvana.

Vaccine czar Carlito G. Galvez, Jr. said the economy would not recover and life would not return to normal if people don’t get vaccinated. Vaccination is a “moral obligation,” he told a televised news briefing before the start of the rollout.

“Let’s not wait for the so-called best vaccine,” he said in Filipino. “There is no such best vaccine because the best vaccine is the one that is effective, efficient and arrives early.”

The government would try to vaccinate all local health workers this month, Mr. Galvez said.

A hundred PGH workers were inoculated with the CoronaVac, Mr. Legaspi told an online news briefing.

Hospital spokesman Jose Jonas D. del Rosario said at the weekend only 12% of the 2,500 hospital staff who answered a poll wanted to take the CoronaVac shots.

Mr. del Rosario on Sunday said those who declined to get vaccinated with CoronaVac would still be prioritized once other vaccine brands arrive.

The vaccinations were also held at five other hospitals in Metro Manila: Lung Center of the Philippines, Dr. Jose N. Rodriguez Memorial Medical Center Sanitarium, Veterans Memorial Medical Center, Philippine National Police General Hospital and Victoriano Luna Medical Center.

Testing czar Vivencio B. Dizon was vaccinated at the Sanitarium.

CoronaVac is only 50.2% effective among health workers, based on trials in Turkey. It was 65.3% to 91.2% effective among patients aged 18 to 59 years, based on trials in Indonesia.

An inter-agency task force allowed the Chinese vaccine to be given to health frontliners. Presidential spokesman Harry L. Roque, Jr. earlier said CoronaVac is safe and would benefit health workers.

Sinovac’s CoronaVac is one of the frontrunners in the vaccine race, along with shots developed by British drug maker AstraZeneca Plc, Russia’s Gameleya National Center of Epidemiology and Microbiology, and America’s Pfizer, Inc., Moderna, Inc. and Johnson & Johnson.

It is the third coronavirus vaccine approved by the country’s Food and Drug Administration for emergency use after the ones from Pfizer and AstraZeneca.

The local FDA last week approved Sinovac’s vaccine for emergency use, the third drug after vaccines from Pfizer, Inc. and AstraZeneca Plc.

The arrival of 525,600 doses of vaccine made by AstraZeneca Plc, originally set for March 1, would be delayed by a week due to global supply problems, Health Secretary Francisco T. Duque III said on Sunday.

TALLY
The Department of Health (DoH) reported 2,037 cases on Monday, bringing the total to 578,381.

The death toll rose by four to 12,322, while recoveries increased by 86 to 534,351, it said in a bulletin.

There were 31,708 active cases, 89.3% of which were mild, 5% did not show symptoms, 2.5% were critical, 2.3% were severe and 0.89% were moderate.

The DoH said eight duplicates had been removed from the tally. One laboratory failed to submit data on Feb. 28.

About 8.3 million Filipinos have been tested for the coronavirus as of Feb. 27, according to DoH’s tracker website.

The coronavirus has sickened around 114.7 million and killed more than 2.5 million people worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization (WHO).

About 90.3 million people have recovered, it said.

Philippines orders a million more shots of Chinese CoronaVac

THE PHILIPPINE government has ordered a million more doses of the coronavirus vaccine made by Chinese drug maker Sinovac Biotech Ltd. worth P700 million that would arrive this month, according to the country’s vaccine czar.

The CoronaVac vaccines would come in two batches and are part of the 5.1 million doses of different vaccine brands expected this quarter, vaccine czar Carlito G. Galvez, Jr. told an online news briefing on Monday.

Also arriving this month are about 3.5 million vials from AstraZeneca Plc under a global initiative for equal access. The government on Sunday took delivery of 600,000 CoronaVac shots donated by China.

The government is in talks with more drug makers for more COVID-19 vaccines, including America’s Moderna, Inc., Johnson & Johnson and Novavax, Inc and Serum Institute of India, Mr. Galvez said.

The Philippines failed to get about 117,000 doses from Pfizer, Inc. last month after the government failed to sign documents freeing the company from potential lawsuits on time.

Mr. Galvez said would fly to India next week to sign supply agreements with Serum Institute and Novavax.

Meanwhile, Chinese drug maker Sinopharm Group Co., Ltd. has asked the local Food and Drug Administration (FDA) to allow the emergency use of its coronavirus vaccine, presidential spokesman Herminio “Harry” L. Roque, Jr. said at the same news briefing.

But the FDA said it was not aware of the application. “As of last Friday, I haven’t heard of an application from Sinopharm for emergency use authorization,” FDA Director General Rolando Enrique D. Domingo told a separate news briefing in Filipino.

“I don’t know if they applied at the weekend,” he added. The FDA, which is based in Muntinlupa City, was closed on Monday for a local holiday.

Mr. Domingo said it would take longer for them to decide on Sinopharm’s application since it had not received an emergency use authorization from any stringent regulatory bodies in other countries.

It may take as long as six weeks, he said.

The FDA earlier allowed the compassionate use of 10,000 doses of Sinopharm vaccines for members of the Presidential Security Group, which used the drugs without regulatory approval.

Ramon T. Tulfo, Jr., the country’s special envoy to China, earlier said he and other high-ranking government officials had also been injected with Sinopharm vaccines last year.

Mr. Roque said the presidential legal team was studying whether President Rodrigo R. Duterte, as commander-in-chief of the Armed Forces, is covered by the compassionate use authorization for Sinopharm.

Only the shots developed by America’s Pfizer, Inc. British drug maker AstraZeneca Plc, and Sinovac have been approved for emergency use in the Philippines so far. — Kyle Aristophere T. Atienza

Three magistrates on short list for chief justice post — DoJ

THREE magistrates have applied for the chief justice post that will become vacant this month, according to the Justice chief.

They are Supreme Court Justices Estela M. Perlas-Bernabe, Alexander G. Gesmundo and Ramon Paul L. Hernando, Justice Secretary Menardo I. Guevarra told reporters in a Viber group message on Monday.

Two justices automatically nominated for the position — Marvic Mario Victor F. Leonen and Alfredo Benjamin S. Caguioa — did not submit their requirements, said Mr. Guevarra, who is an ex-officio member of the Judicial and Bar Council (JBC).

The Justice chief said the two were either not interested or just did not complete the papers on time.

The high court earlier approved the early retirement of Chief Justice Diosdado M. Peralta effective Mar. 27.

Under the JBC rules, at least three nominees must be included in the short list for the nomination to close and the interviews to proceed.

The interviews would start on Mar. 10. — Bianca Angelica D. Añago

Senators want limited face-to-face classes to start

SEVEN senators on Monday filed a resolution asking the government to start the pilot tests for face-to-face classes in more than a thousand public schools amid a coronavirus pandemic.

The senators said the prolonged school closures have affected students especially those from poor families.

They said the trial run in 1,065 schools in low-risk areas identified by the Education department should start “to avert a prolonged learning loss and minimize other potentially profound adverse social, developmental and health costs.”

Senators Sherwin T. Gatchalian, Maria Lourdes Nancy S. Binay, Francis N. Pangilinan, Grace Poe-Llamanzares,  Pia S. Cayetano, Emmanuel Joel J. Villanueva and Juan Edgardo M. Angara signed the resolution.

They said 433 municipalities and three cities have no active coronavirus cases as of Feb. 9. Feeding programs should also be resumed and ease the effects of the pandemic on poor students and their families, they added.

The government should also prioritize teachers for vaccination to lessen the risk of transmissions in schools, the lawmakers said.

President Rodrigo R. Duterte this week rejected a plan to hold limited face-to-face classes pending the rollout of vaccines. In December, he recalled a similar proposal set for January.

“Keeping Filipino learners up to par with international standards of academic achievement and personal development would require the gradual reimplementation of face-to-face classes in relatively low-risk COVID areas pursuant to stringent public health, hygiene and sanitary policies and protocols,” Mr. Gatchalian said in his sponsorship speech on Monday.

Mr. Pangilinan said schools have to be prepared before the mass opening of classes in August.

“We need to gain experience-based knowledge on how to effectively and safely reopen our schools,” he said in his co-sponsorship speech. The number of pilot schools may be lowered if the government is concerned about safety, he added. — Vann Marlo M. Villegas

Nationwide round-up (03/01/21)

NBI given until end of the week for report on PNP-PDEA shootout

THE National Bureau of Investigation (NBI) has until the end of this week to submit its report on the shootout between police officers and agents of the drug enforcement agency last Feb. 24, where three law enforcers and one informant died while several others were injured. The incident happened early evening at a busy commercial area of Quezon City, putting civilians at risk. Justice Secretary Menardo I. Guevarra said on Monday that he has directed the NBI to give its initial findings within 10 days on what the police and the Philippine Drug Enforcement Agency (PDEA) has labeled a “misencounter” during a drug bust operation. “I gave the NBI 10 days… from the time I issued a verbal order to the NBI on the night of the shootout incident… to submit an initial report, and progress reports thereafter until the investigation is completed,” Mr. Guevarra said in a mobile message. Mr. Guevarra also assured a fair probe saying, “the NBI will go anywhere its investigation will lead it” as it has handled such cases “many times before…that’s why the President trusts the agency.” PDEA and the Philippine National Police initially formed a joint team to conduct an investigation on the incident. However, President Rodrigo R. Duterte ordered the NBI to be the sole government agency to handle the probe.

PROPOSED LAWS
Meanwhile, a lawmaker on Monday said such “misencounter” could have been avoided had Congress already amended the Dangerous Drugs Act of 2002. Surigao del Norte 2nd District Rep. Robert Ace S. Barbers cited his proposed amendments to the law through House Bill 7814 were approved on second reading a day before the shootout. Among the proposed changes is the mandatory wearing of body cameras by law enforcers during drug operations. “This could have aborted any seeming illegal activity that were intended to be perpetrated by any personality against law enforcers or could have recorded all activities during the entire operation. Unfortunately, even as we have called for its use years ago, our pleas seem to have fallen on deaf ears, whether intentional or otherwise,” said Mr. Barbers, whose father was a former police officer. A Senate bill also proposes the creation of a single anti-drug agency led by the police. — Bianca Angelica D. Añago and Gillian M. Cortez

Senator asks Malacañang to reconsider ‘demotion’ of 3 holidays

SENATOR Risa N. Hontiveros-Baraquel on Tuesday urged the presidential palace to reconsider the decision declaring three holidays as “special working holidays,” which will cut the take-home pay of workers. In a statement, Ms. Baraquel said Proclamation No. 1107 making special non-working holidays Nov. 2, Dec. 24, and Dec. 31 as special working holidays is “nothing short of disastrous for workers already dealing with a pandemic and an economic crisis.” She added, “While we understand the need to increase economic productivity, demoting special Filipino holidays to special working holidays will only burden and demoralize Filipino workers, many of whom are already underpaid and struggling with high prices of goods. This is rubbing salt on the people’s wounds.” The senator noted that those who will be working on All Soul’s Day, Christmas Eve, and New Year’s Eve will not receive the additional pay of 30% of their daily salary, among other benefits granted to workers during special non-working holidays. She also said that affected workers will include frontliners and essential workers, most of whom are minimum wage earners. The lower pay, she said, might also “disincentive and demoralize workers from reporting for duty, thus lowering economic productivity instead of increasing it.” President Rodrigo R. Duterte on Friday signed the proclamation which reduced the non-working days for the year, citing the need to recover from the adverse effects of the pandemic. — Vann Marlo M. Villegas

Supreme Court upholds estafa conviction of ex-DPWH exec, shop owner

THE Supreme Court has denied the petition of a former Department of Public Works and Highways (DPWH) official and a car repair shop owner for a review of the anti-graft court’s 2016 ruling finding them guilty of estafa due to falsification of documents for fictitious vehicle repairs that cost the government P5.16 million. In a 31-page decision published on Feb. 23, the high court adopted the Sandiganbayan’s findings that the supposed emergency repairs on 39 DPWH vehicles in 2001 did not take place, and were labeled ‘emergency repairs’ and split into separate transactions to avoid the requirement of public bidding. The case involves Maximo A. Borje, who was chief of the Motorpool Section of the DPWH Bureau of Equipment, and Conchita M. Dela Cruz, owner of the repair shop that issued the sales invoices for the spare parts and emergency repairs. The Supreme Court affirmed that documents for 274 transactions that covered the alleged emergency repairs and purchases of spare parts of the 39 DPWH vehicles were falsified. Both petitioners denied any knowledge of the transactions. — Bianca Angelica D. Añago

Regional Updates (03/01/21)

2 Northern Mindanao areas positive for red tide

THE latest shellfish bulletin from the Bureau of Fisheries and Aquatic Resources (BFAR) includes Murcielagos Bay and Ozamiz City in Misamis Occidental, and Taguines Lagoon in Camiguin among the areas positive for red tide contamination. Shellfish harvested in these areas, both located in the Northern Mindanao Region, are unfit for human consumption. Several sites that are still contaminated for red tide include Inner Malampaya Sound, Palawan; Sorsogon Bay, Sorsogon; Dauis and Tagbilaran, Bohol; Tambobo Bay in Negros Oriental; and Daram Island, Zumarraga, San Pedro Bay, and Cambatutay Bay in Western Samar. Other red tide positive areas are Calubuian, Carigara Bay, Ormoc Bay, and Cancabato Bay, Leyte; Biliran Islands; Guiuan and Matarinao Bay, Eastern Samar; Dumanquillas Bay, Zamboanga del Sur; Balite Bay in Davao Oriental; and Lianga Bay and Hinatuan in Surigao del Sur. All types of shellfish and Acetes sp. or alamang harvested from affected areas are not safe for human consumption. However, other marine species can be eaten with proper handling. — Revin Mikhael D. Ochave

Support group seeks release of alleged NPA member

KAPATID, a support group for families and friends of political prisoners, appealed to Justice Secretary Menardo I. Guevarra to release Windel Bolinget who is being held for alleged involvement in a 2018 murder case in Davao del Norte, citing that the case “has no leg to stand on.” Mr. Bolinget, a suspected member of the communist armed group New People’s Army (NPA), was also denied due process as his case did not go through preliminary investigation, the group said. “While we ask the DoJ (Department of Justice) to heed the call of Windel’s family for due process of law and that his rights to fair and impartial trial be respected, we strongly assert that the case lodged against him should be dropped and that he should be freed as the case has no leg to stand on because it is built on nothing,” KAPATID Spokesperson Fides Lim said. The suspect’s wife also asked the DoJ to allow Mr. Bolinget to stay in the protective custody of the National Bureau of Investigation in Baguio City as she fears for his life, citing the P100,000 bounty being offered by the police regional office in the Cordillera Administrative Region. The police also issued a “shoot-to-kill order should he resist arrest.” Mrs. Bolinget said, “We fear that this lays down the possibility of the notorious ‘nanlaban’ (fought back) scenario by State security forces.” Mr. Guevarra said in a mobile message on Monday that he has read Mrs. Bolinget’s appeal, and that he “will assure her that her husband’s right to due process will be respected.” — Bianca Angelica D. Añago

Commercial fishing resumes in Zamboanga as sardines closed season lifted

DTI.GOV.PH

COMMERCIAL fishing in waters around the Zamboanga Peninsula Region resumed Mar. 1, as the three-month closed season for sardines ended Sunday. A ceremony was held Monday at the Sangali Port Area in Zamboanga City for the official lifting of the annual closed season that starts every December 1 since 2011. Bureau of Fisheries and Aquatic Resources-Region 9 Director Isidro M. Velayo Jr., in a statement last week, said monitoring data show annual sardines catch has been steadily increasing from 141,658 metric tons (MT) in 2015 to 297,683.49 MT in 2020. The closed season, initiated by government authorities and industry stakeholders, was a policy intervention to revive the dwindling sardines population. Sardines is one of the region’s main products with at least 11 major canning companies based in Zamboanga City. Closed fishing seasons are also implemented in other parts of the country, including the Visayan Sea, northeastern Palawan, and Davao Gulf. — MSJ 

All aqua sports allowed as Samal reopens to tourists

SAMAL visitors who want to go snorkeling will have to bring their own gear. — @DOTDAVAO

SAMAL Island reopened to tourists on Mar. 1, with requirements cut down to just a confirmed pre-booking at a certified tourism establishment and a QR code per individual. The issuance of the QR code will be facilitated by the tourism facility. The island city’s tourism office also announced that all aqua sports activities are allowed, but with certain restrictions and guidelines. For snorkeling and scuba diving, visitors must bring their own equipment such as snorkel, flippers, goggles, and floating gear. For island-hopping, boats and sites must operate at 50% capacity. Other water activities allowed include jet and water skiing, wake boarding, kayaking, and banana boating. Samal Mayor Al David T. Uy, in an interview last month, said tourism accounts for up to 40% of the island’s income, and the almost year-long closure of the industry has severely affected resort owners and workers as well as the local government’s tax collection. “Tourism is a rising industry in Samal and we need the income,” he said, adding that revenue from tourism would contribute to the city’s ability to allocated local funds for coronavirus disease 2019 (COVID-19) vaccines. The Department of Tourism’s Davao regional office said 73 resorts on the island have been checked for health protocols and certified for reopening. For more information, visit the Samal tourism office’s Facebook page, Samal Turismo.

BIR promises to remove export cigarettes’ tax-stamp exemption

THE Bureau of Internal Revenue (BIR) said it will withdraw the tax-stamp exemption of export cigarettes, after a legislator cited the potential for these products to enter the market as tax-free smuggled goods.

At the House Ways and Means Committee hearing Monday, the chairman, Representative Jose Ma. Clemente S. Salceda, said the BIR should revoke Revenue Regulations (RR) No. 9-2015, which grants the exemption. He called unstamped export cigarettes “the mother lode of smuggling.”

BIR Commissioner Caesar R. Dulay said the agency will reverse its rules in response to Mr. Salceda’s proposal.

“My word of honor is we will reverse it as suggested by the Chair,” he said at the hearing.

RR No. 9-2015 allows cigarette exporters to omit the tax stamp, instead linking the shipments with unique identification codes.

Investigations by legislators have found that raids conducted on the facilities of GB-BEM Cigarette Company, Inc., GB Global Exprez, Inc., and Movers Box Printing turned up export cigarettes that were being distributed in Central Luzon.

In a statement, Mr. Salceda estimated the revenue lost to cigarette smuggling annually at P30 billion at least due to “the laxity of enforcement” against the illegal cigarette trade.

Legislators also cited the Philippine Economic Zone Authority’s (PEZA) laxity in admitting locators without the necessary BIR permits. GB-BEM is registered with PEZA but had no permit to manufacture the cigarettes for export.

“If you think a permit to manufacture from BIR is needed, why did you approve GB-BEM as PEZA locator without that permit?… If you did not allow them to operate, then they would not have brought in (smuggled goods),” Nueva Ecija 1st District Rep. Estrellita B. Suansing said at the hearing.

PEZA Director-General Charito B. Plaza said that there was a misunderstanding regarding the company’s application to locate in an economic zone.

Mr. Salceda said he is looking into creating a “licensed area” in economic zones for highly regulated products to prevent them from being mixed in with less-regulated items. He added the PEZA police should strengthen enforcement in economic zones. — Gillian M. Cortez

Energy-efficiency labeling rules expected soon

THE Department of Energy (DoE) said it expects to publish the implementing guidelines for the labeling of energy-consuming products (ECPs) in one or two months.

ECPs covered by the draft rules include air conditioners, refrigerators, televisions, and lighting products.

“If there are no significant comments or revisions in this latest draft, we are targeting to have this issued in a month or two months at the latest. Otherwise, we may do one final public final consultation to point out… any significant changes that we will still be introducing as a result of this public consultation,” Energy Utilization and Management Bureau (EUMB) Director Patrick T. Aquino said at a public consultation on the latest draft of the rules.

He said any guidelines the department will issue will address any concerns raised by stakeholders “adequately and appropriately.”

According to a June 2020 department circular which detailed the guidelines of the Philippine Energy Labeling Program (PELP), additional ECPs may be included in the program’s coverage after public consultation in coordination with the environment and transportation departments for the “fuel economy performance labeling requirements for transport.”

The DoE’s latest public consultation on the ECP labeling draft guidelines is the second to date. “Since its first public consultation, the DoE has been continuously receiving valuable inputs and recommendations from our stakeholders, including inputs from World Trade Organization member countries,” the department said in a Feb. 19 advisory.

Mr. Aquino has said that the EUMB is hoping to implement PELP this year.

“Policies for implementation this year would include PELP, guidelines on energy conserving design for buildings, certification of energy conservation officers, energy managers and energy auditors, an energy-efficient transport policy which may include electric vehicles and charging infrastructure guidelines, to name a few,” Mr. Aquino told BusinessWorld on Feb. 25. — Angelica Y. Yang

Creatives seek more representation in industry council

PEXELS.COM

CREATIVE industry groups are requesting broader representation in the council proposed under a measure being considered by the Senate which will develop the sector.

The Trade, Commerce, and Entrepreneurship committee on Monday conducted a hearing on Senate Bill No. 411 filed by Senator Maria Imelda Josefa R. Marcos in July 2019, which is calling for a charter to develop and promote the creative industries.

The bill proposes a five-person Creative Industry Development Council to be appointed by the President.

Creative Economy Council of the Philippines President Paolo Mercado said at the hearing that that the bill should be aligned with a substitute bill being considered in the House of Representatives, which proposes a council of 17 people members.

“(The council) is mainly working towards policy and program development. For execution of the program, there is a proposal for a national secretariat… that would be responsible for executing the plans and programs,” he said.

Film Development Council of the Philippines Chair Mary Liza Diño Seguerra asked for the inclusion of various agencies representing the creative sectors.

“For example, the performing arts sector like music, theater and dance (should) be represented by Cultural Center of the Philippines,” she said.

Ms. Marcos said a 17-person council with Cabinet members unable to attend meetings would be inefficient.

“‘Yung gusto sana natin (What we would like is) that this will be an activist and vigorous council rather than one wherein everybody is represented but in the end nothing gets done,” she said.

“We can have a consultative group na malaki (that is large), tapos ‘yung council ‘yung working talaga na pwedeng bumoto (While the council will be the working body that votes on policy) … ‘Yung national secretariat (proposal) is well taken — maganda ‘yun (The secretariat proposal is a good one).”

The council, as proposed, will be in charge of developing a national creative economy plan, creating programs to develop and preserve creative content, helping enforce intellectual property law, supporting creative training, and granting loans for creative startups.

Game Developers Association of the Philippines President Alvin Juban sought representation for the digital sector.

“You have to look back at what actually survived during this pandemic, and this is what can carry our country forward. The only real industry that survived was the people in digital, so in discussions like leadership or placing importance on incentives, I think it will benefit us greatly if we all have to agree that any leader and incentive at this point in time should be centered on people who are digital,” he said.

“To have a non-(information technology) person or group to lead this effort, I think they will just go down.” — Jenina P. Ibañez

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