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Peso ends flat ahead of Fed meeting

THE PESO closed nearly flat against the greenback on Tuesday as investors wait for the result of the US Federal Reserve’s policy meeting.

The local unit finished trading at P48.08 per dollar, almost unchanged from its P48.079 close on Monday, data from the Bankers Association of the Philippines showed.

The peso opened the session at P48.07 per dollar. Its weakest showing was at P48.085, while its intraday best was at P48.05 against the greenback.

Some $1.0146 billion changed hands on Tuesday, up from the $763.05 million seen on Monday.

The trader said in a text message that the peso was steady as investors stayed on the sidelines ahead of the Fed’s policy meeting.

Fed Chairman Jerome Powell earlier said an interest rate hike will not come anytime soon as the central bank continues to provide support to the world’s largest economy.

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said investors preferred the safe-haven dollar over the local unit amid worries over the delayed approval of a new stimulus package in the United States.

US President Joseph R. Biden said he is open to negotiate tweaks on the $1.9-trillion relief proposal to make it a more bipartisan deal, Bloomberg reported.

For today, the trader expects the peso to move from P48 to P48.10 versus the dollar while Mr. Ricafort sees it trading within a tighter band of P48.05 to P48.10. — LWTN

Shares sink on local transmission of virus strain

By Revin Mikhael D. Ochave, Reporter

PHILIPPINE shares declined anew on Tuesday as the country confirmed the local transmission of the new coronavirus disease 2019 (COVID-19) variant from the United Kingdom (UK).

The benchmark Philippine Stock Exchange index (PSEi) dropped 94.34 points or 1.33% to finish the session at 6,977.16, while the broader all shares index fell 81.69 points or 1.92% to end at 4,168.96.

Philstocks Financial, Inc. Research Associate Claire T. Alviar said in a mobile phone message that the market ended lower as investors unloaded shares amid the local transmission of the new COVID-19 variant in Bontoc, Mountain Province.

“The market closed in the red territory amid stricter lockdown measure worries after the mounting cases of a new COVID-19 variant. Stringent lockdown measures are not good for the economy, particularly that we are just in the beginning phase of recovery,” Ms. Alviar said.

Reuters reported that the Health department has confirmed the local transmission of the new COVID-19 variant first detected in Britain.

Dubbed B.1.1.7, the new variant has infected 12 people in Bontoc, bringing the total number local cases of the strain to 17.

AAA Southeast Equities, Inc. Research Head Christopher John Mangun said the local bourse closed in negative territory as market sentiment remained cautious.

“The lack of optimism from investors may be coming from the lack of positive news from companies with regards to their fourth quarter performances. Most issues have lost all of their gains for 2021, with prices going back to where they were at the beginning of December,” Mr. Mangun said in an e-mail.

All sectoral indices at the PSE ended lower on Tuesday. Mining and oil declined 494.33 points or 5.36% to 8,718.37; financials went down 26.37 points or 1.79% to 1,444.51; holding firms retreated 127.7 points or 1.77% to 7,085.63; services shrank 24.66 points or 1.6% to 1,516.3; property decreased 46.89 points or 1.29% to 3,562.38; and industrials lost 21.83 points or 0.24% to 9,079.54.

Value turnover on Tuesday amounted to P11.56 billion with 74.53 billion issues switching hands, a jump from the P9.11 billion with 79.86 billion shares logged in the previous session.

Decliners dominated advancers, 209 against 29, while 31 names ended unchanged.

Net foreign selling climbed to P504.07 million yesterday from the net P311.43 million that left the market on Monday.

“Breaching the significant support area at 7,000, 6,700 now becomes the next support level to watch,” Timson Securities, Inc. Head of Online Trading Darren Blaine T. Pangan said via text.

“The next major support for the PSEi is at 6,740. The bloodbath continued for second and third liners as investors are now unloading positions at a massive scale. This trend may also continue until the end of the week,” AAA Southeast Equities’ Mr. Mangun said.

NEDA warns no FINL easing without economic reform bills

SOCIOECONOMIC planners warned Congress that failure to pass pending reform legislation will likely stall the opening up of the economy, adding that without such laws, it may not be possible to expand foreign investment to more industries.

If passed, pending legislation amending the Public Service Act, the Retail Trade Liberalization Act, and the Foreign Investments Act will allow for a more permissive Foreign Investment Negative List (FINL), the document which outlines industries foreign investors are allowed to participate in, according to National Economic and Development Authority (NEDA) Undersecretary Rosemarie G. Edillon.

Speaking before the House Committee on Constitutional Amendments Tuesday, Ms. Edillon said legislative action is needed because NEDA has “exhausted” all possible action at the executive level to open up the economy.

“We really need the legislation to be able to come up with a more liberalized Foreign Investment Negative List,” she said.

She added that the pending reform bills will work “hand-in-hand” with the tax-reduction bill known as CREATE.

The proposed Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, which is currently being tackled by the bicameral conference committee, reduces corporate tax rates while rationalizing the incentives regime.

Originally a purely tax reform measure, CREATE has since been repositioned as an economic relief bill to help businesses recover from the pandemic.

“We should also know that these amendments actually complement the CREATE bill and the other reforms that have already been done with respect to the ease of doing business,” she said.

Members of the Cabinet’s economic team appeared before the committee Tuesday in the context of moves to amend the Constitution, to weigh in on whether charter change could play a role in effecting the proposed reforms.

“If there are things that we can do to open up the economy through administrative measures, we must implement them,” Finance Secretary Carlos G. Dominguez III said at the committee hearing. “If there are areas that we can liberalize by amending our existing laws then let’s do that.”

Trade Secretary Ramon M. Lopez said the timing of the campaign to amend the Constitution could be problematic because of the approach of the 2022 elections.

“We are just mindful (that) the current challenges, including the nearing 2022 presidential elections, might affect the focus of the deliberations, but we leave those concerns to the wisdom of the legislators.”

Also at the hearing, the Joint Foreign Chambers (JFC) of the Philippines said it supports Constitutional amendments. However, the JFC’s John D. Forbes, Senior Adviser with the American Chamber of Commerce, said it may take “several Congresses” to complete the desired reforms.

“We recommend the immediate enactment of other laws that provide new (foreign direct investment) opportunities… and programs that increase competitiveness to surpass FDI levels achieved by our neighbors,” he said.

The JFC said Philippine FDI as a share of gross domestic product averaged 1.6% a year between 2010 and 2019, the worst performance within the Philippines’ regional economic peer group, which includes Indonesia, Malaysia, Thailand, and Vietnam.

Economist Bernardo Villegas, a member of the commission that drafted the 1987 Constitution, told the panel that the pending legislation could be subject to challenge without actual amendments to the charter.

“I think there will be a lot of constitutional challenges… I don’t think it will be that easy to allow foreign ownership in public utilities,” he said at the hearing.

“We have to act right now with regard to the economic provisions” of the Constitution, he added. — Gillian M. Cortez

Infrastructure focus may have led PHL to neglect public health — Moody’s

THE Philippine focus on infrastructure investment has led to a corresponding lack of funding for social services like healthcare, with the resulting inability to efficiently deal with a public health crisis highlighting the country’s exposure to “highly negative risk,” Moody’s Investors Service said.   

“The pandemic has highlighted existing gaps in health infrastructure in some parts of Asia. For instance, health and safety have been identified as a source of ‘highly negative’ risk for India and the Philippines,” Moody’s said in a note Tuesday.

Moody’s said there is a “traditional emphasis” on supercharging growth through infrastructure spending, which in light of events may now need to expand to other areas like social spending, healthcare, and pensions.

The government hopes to spend P1.2 trillion on infrastructure in 2021 to revive the economy and create jobs.

“Improving healthcare access in emerging economies, alongside ageing populations across higher-income Asian economies, could spur demand for healthcare products and services,” Moody’s said.

Moody’s warned that the pandemic could still take an unpredictable turn, potentially straining the public health system and disrupt business activity.

“At the sovereign level, potentially weaker growth prospects stemming from continued uncertainty around trade, geopolitics and health outcomes, as well as exposures to commodities and tourism sectors, will weigh on revenue generation and shock-absorption capacity,” Moody’s said.

Moody’s expects the economy to grow by 7% this year, against the 6.2% forecast it issued in September. However, it expects the Philippine recovery to lag the region. — Luz Wendy T. Noble

Open dumpsites due for total shutdown by March — DENR

THE Department of Environment and Natural Resources (DENR) said Tuesday that its regional offices have been ordered to shut down all open dumpsites by March.

“Our EMB (Environment Management Bureau) regional director(s) will continuously undertake closure of open dumpsites within their respective areas… And this is my directive to them and my directive to you, Benny (D. Antiporda). All open dumpsites must be closed by the end of March this year,” DENR Secretary Roy A. Cimatu said during the anniversary of the signing of the Ecological Solid Waste Management Act of 2000 or Republic Act (RA) No. 9003.

Mr. Antiporda is the DENR undersecretary in charge of solid waste management and local government unit concerns. He is also the alternate chairman of the National Solid Waste Management Commission (NSWMC).

According to RA 9003, open dumpsites are defined as those where solid waste is deposited without planning and consideration for environmental and health standards, and are illegal to establish or operate.

Mr. Cimatu said his office received a report last night that the DENR shut down 38 open dumpsites in one region in a single day. He did not identify the region.

The NSWMC has so far shuttered 152 open dumpsites, most recently in Tanza, Cavite. The estimate for the number of open dumpsites still operating is 233 as of the end of 2020, down nearly 40% from the total operating in 2017.

On its website, the DENR said dumpsite closures form part of its solid waste management program, the other key component being the creation of material recovery facilities.

Mr. Antiporda told reporters that he is confident that the DENR will meet the March target for closures.

“If there’s a will, there’s a way… If we’re really serious, basically within one month kaya pa po (we can do it),” he said at a briefing.

He added that should he encounter uncooperative officials, he will “deal with them personally.”

On Jan. 15, the DENR sealed the entry points of a six-hectare open dumpsite in Tanza. According to a report from the department’s Provincial Environment and Natural Resources Office, the accumulated solid waste at the privately-owned dumpsite was estimated at about three meters high. — Angelica Y. Yang

Train cars for LRT-1 Cavite extension starting to arrive

THE Transportation department said Tuesday that it took delivery of the first batch of train cars from Spain and Mexico for use of the Light Rail Transit Line 1 (LRT-1) Cavite extension.

“This means that after 19 long years of waiting, the LRT-1 Cavite extension is finally turning into reality,” the department said in a statement.

Japan, through the Japan International Cooperation Agency, funded the manufacture of the 120 fourth-generation light rail vehicles.

The train cars will be provided to the LRT-1, with Mitsubishi Corp. as the implementing contractor, the Embassy of Japan in Manila said in a separate statement.

Light Rail Manila Corp. (LRMC), the private operator of LRT-1, said Spanish rail equipment manufacturer Construcciones y Auxiliar de Ferrocarriles started the production of the train cars in Spain and Mexico in 2019, after winning a tender conducted by the Transportation department.

“The train sets will arrive in batches, with at least one train set arriving every month until May 2022,” the company noted.

The Transportation department said on Jan. 18 that the LRT-1 Cavite extension project was 51.61% complete as of Dec. 31.

It also said the Cavite extension is expected to start partial operations by the end of 2021.

The P64.9-billion LRT-1 Cavite extension project, a public-private partnership venture that the National Economic and Development Authority board approved in November 2013, aims to add an 11.7-kilometer Baclaran-Bacoor, Cavite segment to the current 18.1-kilometer train line. The new stretch will have eight stations.

The first phase of the extension consists of a seven-kilometer segment with five stations between the Redemptorist Church area in Baclaran and Dr. Santos Ave. in Parañaque.

The remaining three stations are scheduled for completion in 2022.

Once LRT-1’s Cavite extension opens to the public, the DoTr expects daily ridership along the entire line to increase to 800,000 passengers from 500,000, and Baclaran-Bacoor travel time to be cut to 25 minutes from up to two hours.

LRMC is the joint venture of Ayala Corp., Metro Pacific Light Rail Corp. and Macquarie Infrastructure Holdings (Philippines) Pte. Ltd. It holds the P65 billion, 32-year PPP contract to operate LRT-1 and build its extension to Cavite.

Metro Pacific Investments Corp. is one of three Philippine subsidiaries of Hong Kong’s First Pacific Co. Ltd., the others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., maintains an interest in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

Meat processors push for zero-tariff emergency imports of pork products

THE GOVERNMENT should admit pork imports with zero tariffs on an emergency basis to ease the price increases for the commodity, the Philippine Association of Meat Processors, Inc. (PAMPI) said.

According to a letter addressed to Agriculture Secretary William D. Dar, PAMPI President Felix O. Tiukinhoy, Jr. said removing tariffs on pork imports can be done on an emergency basis to address high pork prices and tight supply.

Mr. Tiukinhoy said hog farmers and producers that are registered with the Bureau of Animal Industry (BAI) should be given the green light to directly import up to 50,000 metric tons of pork and more if needed, at zero tariff.

He added that it is not unusual for producers to import goods in emergency situations, in order to continue being able to supply consumers.

“Our recommendation, we believe, is a much better way of alleviating the plight of the hog sector at no cost to the government rather than giving them financial dole-outs,” Mr. Tiukinhoy said.

Mr. Tiukinhoy said the National Meat Inspection Service must temporarily ease a ban on the sale or display of frozen meat products in public markets which do not have refrigeration facilities, for the duration of the shortage.

He added that the Land Bank of the Philippines needs to provide financing and trade credit to qualified hog raisers and production at concessional rates.

This will provide “hog farmers and producers… the opportunity to generate income and compensate for huge losses arising from the African Swine Fever (ASF),” Mr. Tiukinhoy said.

According to the BAI, the Philippines imported 256.02 million kilograms of pork in 2020, down 23.8%. Spain accounted for 30.2% or 77.42 million kilograms, followed by Canada at 17.7% or 45.28 million kilograms, and the US at 17.4% or 44.56 million kilograms.

In a virtual briefing Tuesday, Agriculture Secretary William D. Dar said PAMPI’s recommendation will be discussed by the Committee on Tariff and Related Matters on Wednesday, Jan 27.

“We are also looking into reducing the tariff imposed on pork products imported inside minimum access volume (MAV) and those outside the MAV,” Mr. Dar said.

“Products inside MAV are charged with 30% tariff, while those outside MAV are at 40%. From there, we will make adjustments,” he added.   

According to Mr. Dar, the total number of pigs culled since the detection of ASF in 2019 has hit 500,000, with the majority of the animals owned by backyard hog raisers. — Revin Mikhael D. Ochave

House passes tax reduction bill for healthcare frontliners on second reading

THE House of Representatives approved on second reading a measure that will reduce the taxes of health frontliners.

In the plenary session on Tuesday, the lower house approved on second reading House Bill No. 8259, which will provide income tax relief to medical frontliners.

“I would like to thank all my colleagues for helping out in this very valuable measure,” according to Deputy Majority Leader Juan Miguel M. Arroyo after the measure was approved. Mr. Arroyo stood in for Albay 2nd District Representative Jose María Clemente S. Salceda, who was the original sponsor of the measure.

The bill was first approved by the House Committee on Ways and Means last month when it was still an unnumbered bill, known as the proposed “Handog sa mga Bayaning Lumaban Kontra COVID-19 Act.”

Under the measure, medical frontliners will enjoy a 25% discount on their income taxes this year. It covers health workers employed by institutions treating coronavirus disease 2019 (COVID-19) patients.

Initially, legislators pushed for a tax exemption for all healthcare workers.

Mr. Salceda, who chairs the ways and means committee, said tax relief is a means of showing appreciation to health frontliners for services rendered during the COVID-19 pandemic. — Gillian M. Cortez

Duterte recalls easing on risk of new strain

By Vann Marlo M. Villegas, Reporters
and Kyle Aristophere T. Atienza 

PRESIDENT Rodrigo R. Duterte on Monday recalled an order allowing minors as young as 10 years to go out amid a coronavirus pandemic, citing the risk of infection from a more contagious strain.

“It’s a precaution because there is a strain discovered in the Cordillera that is very similar to the one in the United Kingdom,” he said in a late televised talk. “How it got there is beyond me.”

The President said younger kids should stay home and watch TV.

The Department of Health (DoH) reported 1,173 cases on Tuesday, bringing the total to 516,166. The death toll rose by 94 to 10,386, while recoveries increased by 18 to 475,423, it said in a bulletin.

The Philippine death rate was at 2.01%, while the recovery rate was at 92.1%, it said.

There were 30,357 active cases, 84.9% of which were mild, 8.4% did not show symptoms, 3.8% were critical, 2.5% were severe and 0.5% were moderate.

Cebu City reported the highest number of new cases at 84, followed by Davao City at 67, Cavite at 51, Quezon City at 47 and Rizal at 41.

The agency said three duplicates had been removed from the tally, while 15 recovered cases were reclassified as deaths. Nine laboratories failed to submit their data on Jan. 25.

About 7.2 million Filipinos have been tested for the coronavirus as of Jan. 24, according to DoH’s tracker website.

The coronavirus has sickened more than 100.3 million and killed about 2.2 million people worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization (WHO). About 72.4 million people have recovered, it said.

An inter-agency task force (IATF) on Friday relaxed the age restriction on who can go out in areas under a modified general community quarantine, saying more minors should be allowed to go out to boost consumption. Before that, only people aged 15 to 65 were allowed outside.

Few children have been sick with the coronavirus, though experts are studying whether they can be susceptible to new virus strains.

Trade Secretary Ramon M. Lopez earlier said children should be allowed to visit malls to boost consumer spending. He said some fast-food chain branches have closed due to weak demand.

Mr. Duterte in December also recalled a task force order that would have allowed pilot face-to-face classes in some areas this month.

‘SALVATION’
The President renewed his call for people to follow health protocols. “The only salvation, actually, for those who have not been sickened with COVID-19 and pending the rollout of the vaccine is really that you follow the protocol imposed by the government.”

Health authorities confirmed late Monday the transmission of the UK strain in a town in northern Philippines, where 12 people have tested positive.

Thirty-four more people who had close contact with the patients have tested positive for the coronavirus, six of whom were negative for the new strain. The results of the 28 were pending.

“DoH confirms local transmission in Bontoc of the B.1.1.7 variant of SARS-CoV-2 as identified through genomic sequencing,” it said in a statement.

“To date, all identified cases with the UK variant can be epidemiologically linked to cases coming directly from outside the country (importation) or from specific cases or exposures that can still be identified (local transmission),” it added.

The agency said there was no strong evidence of community transmission, based on World Health Organization standards.

A community transmission occurs if there is an “appearance of large number of cases, occurrence of case clusters in multiple areas” and “inability to link cases to known sources of infection.”

It said clustering of cases in the village of Samoki was reported to have begun with a returning overseas Filipino from the United Kingdom on Dec. 11. The person, who tested negative on Dec. 13, traveled to Bontoc where he celebrated Christmas and attended a cultural ritual the following day.

He was tested for the coronavirus after complaining of abdominal pains and was found to have been positive. He was, however, negative for the UK variant.

A total of 46 close contacts of the traveler from the UK tested positive for coronavirus, 12 of whom were also infected with the new variant. Eleven of the 12 cases with the UK strain were from Samoki.

“While we have identified linkages of cases to the traveler from the UK, said traveler was negative for the B.1.1.7 variant and his wife was negative on PCR test,” DoH said.

“The Regional Epidemiology and Surveillance Unit (RESU) and local government unit (LGU) are currently backward tracing exposures and travel histories of cases to identify other possible sources of infection,” it added.

Health authorities said they would try to identify and interview other returning migrant Filipinos from different villages to determine their health and quarantine status.

DoH said four household members of the case with the UK variant in La Trinidad, Benguet province were positive for the coronavirus. Their samples will be submitted for sequencing to determine if they have the new variant.

It also said four co-passengers of the two Filipinos who arrived from Lebanon on Dec. 29 and who tested positive for the new variant had tested positive for the coronavirus. Their samples were being examined to know if they have the new strain.

At least 228 other passengers of the same flight were negative upon arrival, DoH said, adding that it was verifying the laboratory status of 51 other passengers and 19 flight crew members.

It was also verifying the travel history and exposure of a man from Calamba City, Laguna who was positive for the new strain.

There were now 17 confirmed infections with the UK virus strain in the Philippines. The first case was a 29-year-old man who arrived in Manila from the United Arab Emirates (UAE) on Jan. 7. He had since recovered, according to the Quezon City local government.

Senate bill seeks to pay back people hurt by vaccines

A SENATOR has filed a bill that seeks to compensate people who might get sick from coronavirus vaccine shots.

Senate Bill 2015 by Senator Maria Lourdes Nancy S. Binay will create an indemnification fund to increase public confidence in vaccines and remove the risk of lawsuits against drug makers and suppliers.

“This system will help protect and compensate the most marginalized and vulnerable sectors of society from any unanticipated adverse events resulting from vaccination,” she said in the explanatory note.

The bill will require pharmaceutical companies that will supply vaccines to Filipinos to reserve 1% of their contract price for the fund.

The local Food and Drug Administration (FDA) has approved the emergency use of Pfizer, Inc. and BioNTech’s coronavirus vaccine, which has a 95% efficacy.

Vaccines made by China’s Sinovac Biotech Ltd., British drug maker AstraZeneca Plc and Russia’s Gamaleya National Center of Epidemiology and Microbiology also have pending applications.

The fund will be managed by a vaccine compensation board led by the Justice secretary.

The Health secretary will serve as the vice chairman, while Budget and Finance chiefs will sit as members. The board will also have three sectoral representatives as members.

Ms. Binay said the bill would provide a more fair, efficient and stable approach to help injured parties.

The compensation board will have exclusive jurisdiction to claims for payment or indemnification of injuries or death related to coronavirus vaccines.

It will also set up an efficient system for reporting and the periodic review of fund use and management. — Charmaine A. Tadalan

Duterte appoints CA magistrate to Supreme Court

PRESIDENT Rodrigo R. Duterte has appointed an appellate court justice to the Supreme Court, according to the tribunal.

Jhosep Y. Lopez will replace Justice Priscilla J. Baltazar-Padilla, who retired for health reasons in November, it said in an e-mailed statement on Tuesday. Executive Secretary Salvador S. Medialdea confirmed the appointment in a Viber message.

Mr. Duterte has now appointed 11 magistrates to the 15-member tribunal. He also promoted Diosdado M. Peralta, an appointee of former President Gloria Macapagal-Arroyo, to chief justice. Three justices are appointees of Mr. Duterte’s predecessor, Benigno S.C. Aquino III.

Mr. Lopez, a native of Pangasinan province, served as a Court of Appeals magistrate for almost nine years, the high court said.

He took up political science at the University of the Philippines, Diliman and graduated cum laude. He took up law there and passed the bar exams in 1989 with an average of 84.55, it said.

Mr. Lopez entered politics in 1992, winning as a Manila councilor.

In 1998, he served as chief legal consultant to then Health Secretary Felipe Estrella until he was tapped as the country’s first agriculture attaché to Beijing.

He again served as Manila councilor from 2001 to 2006 until his appointment as a city prosecutor in 2006.

During his stint as a prosecutor for more than six years, he instituted reforms such as the computerized system of monitoring cases, the high court said.

Justice Lopez was a partner at the Lopez Rasul Maliwanag Baybay Palaran Law Offices from 1993 to 2006.

He is an educator at various law schools including the UP College of Law, New Era University College of Law and Pamantasan ng Lungsod ng Maynila College of Law.

Born on Feb. 8, 1963 in Umingan, Pangasinan, he will mandatorily retire on his 70th birthday in 2033, it said. — Kyle Aristophere T. Atienza

Senate adopts resolution on UP accord

THE SENATE on Tuesday adopted a resolution urging the Department of Defense (DND) and University of the Philippines (UP) to revisit an agreement that limited military presence in the state university’s campuses.

The Senate welcomed the agency’s decision to hold dialogues with UP on the 1989 accord, according to a copy of Senate Resolution 616.

The chamber said the military should also hold talks with other academic institutions to expand the coverage of safeguards given to other state universities.

“We want to expand or extend the beautiful provisions and effects of the UP-DND accord to all education institutions,” Senator Francis N. Pangilinan said in Filipino in his sponsorship speech.

The military in a Jan. 15 letter to UP President Danilo Concepcion ended the ban on soldiers and police from UP premises without prior notification.

Senators Risa N. Hontiveros-Baraquel, Maria Lourdes Nancy S. Binay, Ralph G. Recto, Leila M. De Lima, Franklin M. Drilon and Emmanuel Joel J. Villanueva co-authored the resolution.

Senator Ronald M. dela Rosa, President Rodrigo R. Duterte’s former police chief, abstained. He said ending the accord would protect the youth from the “snares of communism and its empty promises.” — CAT

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