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How to treat your workers better

The pandemic has prevented us from giving high pay and perks to our employees, who deserve it. This is due to our poor sales performance. In fact, we have retrenched some workers to help the organization survive. Given our limitations, is there a better way of motivating the survivors? — Starry Night.

The short but crisp answer is: if you can’t afford to pay well, then at least, treat the workers well. Don’t be a difficult boss. As I’ve said time and again, problem workers are created by problem managers.

Among other things, problem managers are those who micromanage, bully their workers, fail to solicit or listen to their ideas, distrust them, and not show an interest in their career growth. The most important thing of all to look out for, according to Peter Drucker (1909-2005), the Father of Modern Management is to avoid thinking that “management”  consists of “making it difficult for people to get their work done.”

Toxic managers don’t realize it. They still cling to the old ways of command-and-control, which has been obsolete since around the time World War II ended. Just the same, its allure can’t be stamped out easily. It’s the reason managers undermine their own workers without realizing it. Unless you accept this fact, there’s nothing you can do, even if you have the capacity to pay good money.

ZERO-CASH STRATEGIES
It’s not exactly difficult. I mean, there are many non-cash strategies that you can tap to motivate workers, all of them involving treating them well. Unless you adopt such a strategy, things may get worse before they get better. Let’s explore some of the best possible ways to treat your workers:

One, emphasize non-monetary benefits in the hiring process. You may have stopped hiring new workers, but who knows what the future will bring? Assuming that you need new workers and can’t offer them above-average industry pay and perks, then the best thing to do is to offer soft rewards. These include flexible work schedules, challenging tasks, friendly bosses and a welcoming, fun environment.

Two, maintain a proactive two-way communication program. Most people don’t discuss their work difficulties. This is why dynamic companies initiate and maintain communication with their workers. These measures include employee morale surveys, town hall meetings, 15-minute morning meetings, and the establishment of a labor-management council, which is encouraged by Republic Act 6715.

For individual employees with specific needs, management may do well to coach and conduct “stay” interviews to determine their pulse. Here are some basic questions to ask: How can I help you ease your difficulties at work, if any? How can I help you succeed in your career? And many more.

Three, find ways to commend people publicly. Make every recognition day meaningful by inviting the management team. Give out trophies, not just certificates. If you’re serious about honoring employees, make it an occasion to be cherished for a lifetime. Invite the worker’s spouse or parent as a surprise guest.

If the worker has accomplished something extraordinary like saving millions of pesos or securing a valuable contract, give out a gift of some value like a watch or a gift certificate from an appliance store. Such gifts will be remembered for some time.

Four, give the gift of time and flexibility. Allow some fast-trackers and high-achievers to work on key projects that help the organization achieve its goals. Offer them flexi-time, work-from-home arrangements or a hybrid. Emulate a Google policy of allowing workers to spend 20% of their time (or one day a week) to pursue any idea that could help support the company’s mission.

Five, say “please” and “thank you” a lot. Recently, a toxic manager posed a question on social media: “Why would I thank an employee for doing his job?” The answer is easy and persuasive — why not? Really, treating people well is an inexpensive means of motivating workers. You don’t have to spend a fortune.

But you need to be sincere, specific, and inspiring. Write down all the things you like about the worker and what he did.

Six, engage, energize, and empower individuals and teams. This is best accomplished if your company has a robust employee relations program that includes quality circles, sports clubs, and many others. Offer individual employees options like challenging tasks to help them grow; allow them to transfer to other departments where their talent is best suited.

Sometimes, even allowing certain workers to be transferred to a geographical location near their residence or being seconded to a client for a limited period can be beneficial for both organizations.

Last, foster and promote intrinsic employee rewards. Your employees can be stuck doing the same repetitive tasks. They could easily find themselves in a rut. This is what Abraham Maslow told us about “self-actualization” in his time-tested Hierarchy of Needs. By giving workers the proper environment to feel good about themselves, they will be excited to report every day because they enjoy their work.

EXPIRATION
No matter how well you treat your workers, there’s no guarantee their loyalty won’t fade. Good times can turn bad sooner than you think. Even good things must come to an end and employees may come to believe you’re taking them for a ride. This is the right time to conduct the “stay” interview with your employees.

It makes sense to invest time and energy on taking the pulse of each and every worker under your care. Keep a watchful eye. Be sensitive to people’s needs. Look for ways to attend to their career goals. Help them achieve them. Go the extra mile and cover all the details. But don’t push them too hard and undo all your efforts.

 

Send anonymous questions to elbonomics@gmail.com or via https://reyelbo.consulting

How PSEi member stocks performed — December 10, 2020

Here’s a quick glance at how PSEi stocks fared on Thursday, December 10, 2020.


PSEi rebounds as Congress ratifies 2021 budget

By Revin Mikhael D. Ochave, Reporter

SHARES recovered on Thursday as market sentiment improved on the back of progress in the country’s 2021 national budget.

The 30-member Philippine Stock Exchange index (PSEi) climbed 51.77 points or 0.72% to end at 7,154.43, while the broader all shares index increased 17.79 points or 0.41% to close at 4,270.92.

Philstocks Financial, Inc. Research Associate Claire T. Alviar said the market improved as investor sentiment was lifted after Congress ratified the country’s national budget for 2021.

“It erases uncertainties of the re-enacted budget for next year and gives more hope for gradual economic recovery,” Ms. Alviar said in a mobile phone message.

The Bicameral Conference Committee on Wednesday approved next year’s P4.5-trillion national budget, which is aimed at supporting economic recovery after a record recession due to the coronavirus pandemic.

The bicameral conference committee report on the General Appropriations Act of 2021 was ratified by the House of Representatives and the Senate on Wednesday evening. The budget bill will then be sent to President Rodrigo R. Duterte for his signature before Christmas.

Ms. Alviar added that the PSEi also rose on the back the gains logged by market heavyweights such as Ayala Land, Inc. (ALI), Ayala Corp. (AC), SM Prime Holdings, Inc. (SMPH), and JG Summit Holdings, Inc. (JGS).

ALI shares improved 3.49% or P1.35 to end at P40.05 per share; AC shares increased 2.44% or P20 to close at P840 apiece; SMPH shares climbed 1.32% or 50 centavos to close at P38.40 per share; and JGS shares rose 0.81% or 55 centavos to end at P68.55 per piece. 

“The market ended higher as market participants continue to feel optimistic over the government’s push to further reopen the economy,” Timson Securities, Inc. Head of Online Trading and Trader Darren Blaine T. Pangan said in a mobile phone message.

Sectoral indices at the PSE were mixed at the close of Thursday’s trading.

Property improved 62.02 points or 1.74% to 3,620.62; holding firms went up 55.85 points or 0.76% to 7,369.59; and services rose 7.72 points or 0.5% to 1,529.74.

Meanwhile, industrials dropped 45.33 points or 0.48% to 9,398.45; financials retreated 3.64 points or 0.24% to 1,474.24; and mining and oil shrank 19.52 points or 0.21% to 9,139.48.

Advancers outpaced decliners, 121 versus 108, while 41 names ended unchanged.

Value turnover on Thursday stood at P7.64 billion with some 150.03 billion issues, weaker than Wednesday’s P9.88 billion with 99.2 billion issues.

Net foreign selling amounted to P153.84 million, lower than previous session’s net outflows worth P685.74 million.

“Support may be placed at the 7,000 area while nearest resistance is at the 7,210 level,” Mr. Pangan said.

Peso down on US stimulus delay

THE PESO weakened against the greenback on Thursday on muted investor appetite following stalled discussions for a fresh stimulus fund in the United States.

The local unit closed at P48.065 versus the dollar on Thursday, losing 1.5 centavos from Wednesday’s finish of P48.05, data from the Bankers Association of the Philippines showed.

The peso opened Thursday’s session at P48.10 per dollar, which was its weakest showing for the day. Meanwhile, its intraday best was at P48.05 versus the greenback.

Some $498.1 billion changed hands on Thursday, down from $505.8 billion on Wednesday.

The peso’s depreciation came as the dollar strengthened on risk-off sentiment following delays in the passage of a fresh US stimulus, said Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort.

“The peso was slightly weaker after the deadlock in the US stimulus package and sell-off in some technology shares,” Mr. Ricafort said in a text message.

US legislators extended government funding by another week to buy them time for further discussions on a pandemic relief package, Reuters reported.

The release of the trade data showing a decline in exports also weighed on the peso on Thursday, Mr. Ricafort added.

Data released by the Philippine Statistics Authority showed October merchandise exports slipped 2.2% to $6.202 billion, coming from a growth of 2.9% and 0.5% in September and October 2019, respectively. With this, exports in the 10 months to October shrank 12.8% year on year to $16.256 billion.

For today, Mr. Ricafort expects the peso to play around the P48.01 to P48.11 band versus the dollar. — LWTN with Reuters

Chinese firm Sinovac’s vaccine first to be dispensed — Palace

THE COVID-19 (coronavirus disease 2019) vaccine developed by Chinese pharmaceutical firm Sinovac Biotech Ltd. will be the first to be rolled out under the government’s mass immunization program, the Palace announced Thursday.

“The target remains that Sinovac will be the first that we can use to vaccinate our people and it will be in the first quarter of next year,” Palace Spokesperson Harry L. Roque said in a briefing on Thursday.

He added this is based on the plan of Secretary Carlito G. Galvez, Jr., the appointed vaccine czar who is leading the procurement and distribution program.

The announcement comes amid the resurgence of reports on the company’s history of bribery allegations.

Health Secretary Francisco T. Duque III said they will conduct an investigation on these concerns.

Mr. Roque said President Rodrigo R. Duterte has complete trust that the head of the local Food and Drug Administration (FDA), Rolando Enrique C. Domingo, will ensure the safety of the COVID-19 vaccines that will be dispensed by the government.

In a separate briefing Thursday, Science and Technology Secretary Fortunato S. Dela Pena said Sinovac and Clover Biopharmaceuticals have already received approval from the government’s vaccine expert panel and the ethics board.

AstraZeneca plc and  Janssen Pharmaceutical Companies of Johnson & Johnson have also both been granted approval by the ethics committee but are still awaiting results from the expert panel’s evaluation.

The country continues to record over 1,000 new coronavirus disease 2019 (COVID-19) cases daily with the Department of Health (DoH) reporting 1,383 on Thursday, bringing the total to 445,540. The death toll rose by 24 to 8,701. Recoveries increased by 133 to 409,058, it said in a bulletin.

There were 27,781 active cases, 85.5% of which were mild, 6.7% did not show symptoms, 5% were critical, 2.5% severe, and 0.25% moderate.

Quezon City had the highest number of new cases at 83, followed by Laguna at 75, Manila at 68, Bulacan at 65, and Davao City  at 61.

Seven duplicates were removed from the total case count while 11 cases previously tagged as recovered were reclassified as deaths.

Nine laboratories failed to submit their data on Dec. 9, the

DoH said. About 5.7 individuals have been tested as of Dec. 8, according to the COVID-19 tracker website. — Gillian M. Cortez and Vann Marlo M. Villegas

Legislators dispute items in 2021 budget

LAWMAKERS from both the Senate and House of Representatives continued to raise questions on the P4.5-trillion national budget for next year, which was ratified by Congress on Wednesday and now up for the President’s review and approval.

Senator Panfilo M. Lacson again raised his concerns over the Department of Public Works and Highways’s (DPWH) allocation, the second highest among agencies at P694.82 billion.

The net increase of P28.3B on top of the “juggled funds” within the DPWH budget “could only indicate massive realignments and insertions introduced by the legislators,” he said in a text message to reporters Thursday.

The senator earlier alleged that allies of House Speaker Lord Alan Q. Velasco received higher infrastructure funds for their congressional districts under the proposed budget.

“Even the multi-purpose buildings that I had repeatedly questioned in the committee hearings all the way to plenary gained more funds instead of being reduced, in spite of the obvious waste of funds due to the failure of the DPWH to implement them,” he said.

Meanwhile, the Makabayan bloc in the House said the P19-billion proposed funding of the National Task Force to End Local Communist Armed Conflict (NTF-ELCAC) would only lead to more human rights violations.

The bloc composed of six party-list representatives had been persistent in asking for the defunding of the NTF-ELCAC.

Under the ratified budget, the Office of the President will get P4.5 billion for its confidential and intelligence funds.

Malacañang, meanwhile, assured that the bill will be thoroughly reviewed and signed by President Rodrigo R. Duterte on time to avoid a reenacted budget next year.

“What we will assure is that the President will be swift in reviewing the budget to see if there are specific line items that he will veto,” Palace Spokesperson Harry L. Roque, speaking in mixed English and Filipino, said in a briefing Thursday.

As of Thursday afternoon, the Palace has yet to receive the official copy of the ratified 2021 National Expenditure Program. — Kyle Aristophere T. Atienza and Gillian M. Cortez

NLEX Corp. relocates RFID installation, reloading sites to ease traffic congestion

TOLL road operator NLEX Corp. said on Thursday it would relocate some of its radio-frequency identification (RFID) installation and reloading stations from toll plazas in Valenzuela City to ease traffic congestion in the area.

In an e-mailed statement, the company said it would transfer the existing RFID sticker installation and account reloading stations in the Karuhatan and Mindanao toll plazas “in order to improve traffic flow in the nearby areas.”

On Monday, the Valenzuela City government suspended NLEX Corp.’s business permit for the Karuhatan-Mindanao Avenue Toll Plaza, Karuhatan-Harborlink Toll Plaza, Karuhatan-MacArthur Highway Sub-Exit, Mindanao Avenue Toll Plaza, Paso de Blas Toll Plaza North Bound, Paso de Blas Toll Plaza South Bound, and Lawang Bato Toll Booth.

Valenzuela City Mayor Rex T. Gatchalian wants the company to present “clear and concrete solutions” to issues encountered by NLEX users before lifting the permit suspension, which prohibits the company from collecting fees at those toll booths. 

In his letter to the company on Dec. 9, Mr. Gatchalian noted there are RFID stickers that easily wear out, sensors that cannot promptly read RFID stickers, and missing and/or untimely crediting of loads, among others. 

“We have prepared our action plans to address these concerns,” NLEX Corp. said.

“While the first day of the full implementation of the Department of Transportation (DoTR) Order 2020-12 requiring cashless and contactless transactions on 1 December combined with the surge of Manila-bound commuters from the long holiday, the seasonal build-up, the lifting of the truck ban and number coding scheme caused inconvenience and delays, nevertheless, we wish to assure our customers that we will continue working hard to improve their daily expressway journey,” it added.

ARTA ASSISTS
In a separate statement, the Anti-Red Tape Authority (ARTA) said it would partner with the Toll Regulatory Board and local government units involved in the ongoing issues on the RFID system.

“ARTA plans to submit recommendations to improve toll operations in the Philippines,” it said.

ARTA added it would call for a hearing with both the management of NLEX and South Luzon Expressway “in the coming days.”

NLEX Corp. is under Metro Pacific Tollways Corp., a unit of Metro Pacific Investments Corp., which is one of the three Philippine units of Hong Kong-based First Pacific Co. Ltd. The two others are PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., maintains interest in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

Coronavirus fears affected cancer patient care in PHL

CONSULTATIONS and treatment of cancer patients declined during the lockdown due to fears of coronavirus infection, according to doctors. 

Frederick Ting, an oncologist based in Bacolod City, said 85% of oncologists reported a decrease in the number of cancer patients daily, citing a survey done by the Philippine Society of Medical Oncologists among 92 oncologists.

The patients opted not to see their doctors “mostly out of fear” of contracting the virus in hospitals.

“Seventy-four percent of oncologists actually had cancer patients who deteriorated or died because of not being able to seek urgent care to the hospital,” Mr. Ting said in an online forum hosted by pharmaceutical firm AstraZeneca.

He added that 94% of the oncologists said most systemic therapies such as chemotherapy were delayed for a period ranging from one to two weeks.

Other challenges faced in cancer care amid the COVID-19 (coronavirus disease 2019) outbreak are disruption of diagnosis and treatment, limited access to public transportation, shortage of hospital resources, and exhaustion and stigma against healthcare workers.

Antonio Ramos, manager of the Lung Center of the Philippines, said  chemotherapy at the government-run hospital was reduced to 40% as patients were afraid of COVID-19 and had limited mobility.

The numbers have improved, Mr. Ramos said, as quarantine rules eased up.

In radiotherapy, for example, Mr. Ramos said the 3,300 monthly treatments they were handling before coronavirus dropped in June to 300 a month.

“Now we’re up to 66%, we’re doing 1,900 last count and we were happy about it, our machines are again being utilized fully,” he said.

The New Normal, Same Cancer Coalition in Asia said “timely diagnosis and treatment are critical factors to determine the success of cancer treatment.”

“The COVID-19 pandemic has posed unprecedented challenges to healthcare systems across Asia, including cancer services. As countries enter a ‘new normal’, we strongly urge cancer patients to access the right services without delay to give any treatment the best chances of success,” the coalition said in a statement.

They are composed of oncologists Ullas Bartra from India, Muhammad Yusuf  from Indonesia, Murallitharan Munisamy from Malaysia, Messrs. Ramos and Ting from the Philippines, and Chng Wee Joo and Wong Seng Weng from Singapore.

Mr. Chng said access to care is critical “because cancer doesn’t wait.”

AstraZeneca said in a press release that other countries also experienced decrease in cancer care due to coronavirus.

The company cited a survey of 480 oncosurgeons in India indicating that an estimated 92,000 patients are likely to have delayed timely diagnosis.

There was also a drop of 9% in first visit consultation and 30% drop in follow-up consultation at the National University Cancer Institute in Singapore between February and March, it said. — Vann Marlo M. Villegas

Nationwide round-up (12/10/20)

Healthcare workers given until Friday to submit requirements for hazard pay

THE Department of Health (DoH) has extended the deadline for the submission of requirements for the hazard pay of healthcare workers to 5 p.m. Friday. In a statement on Thursday, the DoH Center for Health Development said the deadline was agreed upon during a dialogue with healthcare worker union leaders and the Hospital Industry Tripartite Council. Healthcare workers in Metro Manila have complained that some of them were given only one day to submit their requirements. “The DoH reminds implementing units, including hospitals and health facilities, to be more facilitative in the processing of these benefits,” the agency said. “While hospitals and other health facilities may request additional requirements and impose deadlines with a view to expediting the release of AHDP (active hazard duty pay) or SRA (special risk allowance), these impositions should not unduly burden our HCWs (healthcare workers),” it added. Administrative orders provide up to P3,000 monthly AHDP and up to P5,000 monthly SRA to coronavirus frontline workers. — Vann Marlo M. Villegas

Dialogue sought with top gov’t officials on political prisoners’ release

AS the world marked International Human Rights Day on Thursday, a group of political prisoners’ families called on the Philippine government to release about 657 political prisoners, 426 of whom were arrested under the administration of President Rodrigo R. Duterte. The group Kapatid said it is seeking a “direct dialogue“ with the country’s top officials to “open prison doors and release political prisoners.” Fides Lim, the group’s spokesperson, said in a statement, “To call for clear and genuine policies that will address the concerns of political prisoners and the other victims of the government’s human rights violations, we will converse with the country’s highest officials.” She said they are proposing that the dialogue include Vice President Maria Leonor G. Robredo, Executive Secretary Salvador C. Medialdea for the Office of the President, Justice Secretary Menardo I. Guevarra, Senate President Vicente C. Sotto, House Speaker Lord Allan Q. Velasco, Supreme Court Chief Justice Diosdado M. Peralta, and Commission on Human Rights Chair José Luis Martín C. Gascon. — Kyle Aristophere T. Atienza

Regional Updates (12/10/20)

Truck ban during rush hours in Metro Manila resumes Monday; number coding still lifted

THE truck ban hours in Metro Manila will again be in effect starting Monday, December 14, the Metropolitan Manila Development Authority (MMDA) announced Thursday. MMDA General Jose Arturo S. Garcia, Jr. said the reimplementation of the ban was requested by the capitol region’s mayors, citing heavier traffic with the coming holidays. “Vehicles travelling on the streets of Metro Manila increase as Christmas approaches so we will return the implementation of the truck ban beginning Monday to help ease traffic,” Mr. Garcia said in a statement. The truck ban was lifted in mid-March to ensure the unhampered flow of goods despite quarantine restrictions due to the coronavirus pandemic. Under the policy, large trucks are prohibited from major thoroughfares in Metro Manila from 6 a.m. to 10 a.m. and 5 p.m. to 10 p.m., Monday to Saturday. A total truck ban is enforced along the Magallanes Interchange-North Avenue segment of EDSA. The number-coding scheme, on the other hand, remains lifted. Metro Manila’s 17 mayors comprise the Metro Manila Council, which governs the MMDA.

DENR wins case against illegal trader who brought in tarantulas

THE Environment department has won a lawsuit against an illegal wildlife trader who smuggled over 700 live tarantulas into the country in April 2019, the agency said on Thursday. The Pasay City Metropolitan Trial Court Branch 48 convicted the accused, Jesse Camaro, for illegally transporting 757 tarantulas that had an estimated value of P310,900 and customs taxes worth P54,752. “Camaro was found guilty of violating Republic Act (RA) 9147 or the Wildlife Conservation and Protection Act and sentenced to six months imprisonment and fined P20,000. He was also fined P100,000 for violating RA 10863 or the Customs Modernization and Tariff Act,” the Department of Environment and Natural Resources (DENR) said, quoting the court’s seven-page decision. Environment Secretary Roy A. Cimatu, in a statement, described the ruling as “a testimony of DENR’s effectiveness in bringing justice to the voiceless wildlife species.” He added, “the growing number of illegal trading cases prompts us to make environmental law enforcement as one of the priorities in the DENR.” Last month, Environment Undersecretary Jonas R. Leones said the department would continue its efforts to stem the illegal wildlife trade in the country to protect species and prevent the spread of microbial infections from animals to humans. — Angelica Y. Yang

Auto sales growth could top 21% in 2021 — Fitch

AUTO SALES growth could end up as high as 21.5%, led by purchases of commercial vehicles as infrastructure spending hits high gear, according to Fitch Solutions Country Risk & Industry Research, which upgraded its previous projection of 10.2% growth.

In a report, Fitch Solutions said the industry is building momentum in the second half of 2020, with sales improving every month since April with the exception of August, when the government reverted to a stricter form of lockdown for two weeks.

According to the ASEAN Automotive Federation, Philippine vehicle sales in the first 10 months fell 42.7% year on year due to the restrictions on movement imposed during the lockdown.

“We are seeing signs of the automotive sales environment improving albeit at a slow pace,” Fitch Solutions said.

The low year-earlier base will also help supercharge growth rates, with 2020 totals expected to decline 43.1% due to the pandemic and late-year natural disasters.

Fitch Solutions said that it expects the 2021 government infrastructure budget to support demand for commercial vehicles, with the segment driving vehicle sales growth up to 2029.

“The heavy trucks and light commercial vehicle sub-segments… will perform better as these vehicles are most suitable for construction-related activities,” it said.

However, Fitch Solutions expects commercial vehicle sales related to jeepney modernization to be muted next year as the distressed financial condition of transport operators could prevent them from buying new low-emission vehicles even with increased subsidies.

“Operators that experienced hardship during movement restrictions will not be able to afford to renew their fleets in time,” it said.

According to the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association, commercial vehicle sales declined 43.2% to 119,968 units in the first 10 months, while passenger vehicle sales fell 41.3% to 53,067.

CAMPI targets industry sales of 240,000 units in 2020. — Jenina P. Ibañez

BIR says 86% of taxes collected via online channels

BIR taxpayers
PHILIPPINE STAR/KRIZ JOHN ROSALES

SOME 86% of tax payments were made online after the Bureau of Internal Revenue’s (BIR) on-site operations were hampered by the quarantine, the Department of Finance (DoF) said.

In a statement, the DoF said P1.241 trillion of the BIR’s total tax collections of P1.45 trillion between January and September were collected via electronic payment channels.

According to preliminary data, tax returns filed electronically hit 16.45 million, or 94% of the total in the nine months.

“The BIR and BoC (Bureau of Customs)… have implemented various digital tools to facilitate trade, make the filing and payment of taxes and duties easier and more convenient for taxpayers, and curb corruption,” the DoF said, citing a report from the two agencies.

The BIR in February included the digital wallet Paymaya application to its accredited electronic payment platforms. Also accepting tax payments were the Gcash e-wallet app, the Land Bank of the Philippines e-payment portal Linkbiz, the PayTax service of the Development Bank of the Philippines, the UnionBank Online app and PESONet.

It also launched in April pilot operations for its web-based Internal Revenue Integrated System, which will centralize the processing of taxpayer information. The system is targeted for full launch by the end of 2021, according to the bureau.

The Electronic Audited Financial System introduced in June also allowed businesses to submit their financial statements to the bureau digitally, while an e-appointment facility was set up in October for taxpayers to raise concerns online.

The BIR also launched its digital Procurement, Payment, Inventory and Monitoring System and the Online Application for Tax Clearance for Bidding Purposes last month as part of its digital shift.

The BIR, the leading revenue-generating agency, is also aiming to launch its One-Time Transactions Tracking System, which was developed in house, and the taxpayer identification number Verifier mobile application this year.

The BoC in June started accepting customs duties and fees through PayMaya and has been simplifying its processes with the aid of the Customer Care Portal System, through which shippers and brokers can digitally track the status of their inquiries, requests and concerns.

It also launched the Customs Service Center in February as a receiving and releasing portal for documents, featuring an information kiosk and payment functions. The bureau has installed these centers in 13 major ports to date.

Tax collections hit P2.059 trillion in the 10 months to October, with BIR revenue down 10.4% at P1.596 trillion and Customs revenue down 15% at P448.6 billion. — Beatrice M. Laforga