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Forward-looking legislation

The Financial Executives Institute of the Philippines (FINEX) lauded Congress for enacting into law two crucial legislative measures: the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill and the Financial Institutions Strategic Transfer (FIST) bill.

According to the FINEX statement issued on Feb. 25, CREATE and FIST are “important components of the economic relief plan of the government to address the devastating effects of the COVID-19 pandemic and to make the Philippines an attractive investment destination for the longer term.”

FINEX has strongly urged the immediate passage of other forward-looking measures that have been pending in Congress such as the GUIDE bill, which stands for Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery.

At the Senate, a bill seeking to regulate the Philippine liquefied petroleum gas (LPG) industry was passed on third and final reading last week. Senate Bill No. 1955 was approved by the upper house via a unanimous 21-0 decision. Its principal author, Senator Sherwin Gatchalian, said the bill would help in stretching the budget of Filipino consumers especially during the current pandemic.

More than eight million out of the country’s 20 million households will stand to gain from the proposed LPG Act of 2021. Data from the Department of Energy (DoE) and the Philippine Statistics Authority show that LPG is widely used for heating, lighting, and cooking — more so now as a result of quarantine and travel restrictions that force most Filipinos to dine and stay in their homes.

A counterpart bill has been filed at the House of Representatives by the LPG Marketers Association (LPGMA). The party-list group’s main advocacy is for ordinary consumers to have access to reasonably priced LPG products and to exercise their freedom to choose any brand available in the market.

LPGMA President Arnel Ty welcomed the bill’s passage, particularly its provisions on the cylinder exchange and swapping program as well as the cylinder improvement program. The latter will eliminate about six million unsafe or dilapidated tanks that are circulating in the market as indicated by recent statistics from the DoE.

Ty served for nine years as LPGMA representative in the 15th, 16th, and 17th Congress. He believes it is important to have a comprehensive framework governing the industry because LPG is a staple in the lives of many Filipinos. “Consumer safety should be top of mind since LPG is highly flammable and explosive,” Ty noted, adding that the bill will provide consumers the option to shift to another brand.

GREEN LIGHT FOR SOLAR CITY
After 30 years and six administrations, the Manila Solar City project has finally secured approval from the Philippine Reclamation Authority (PRA), a government agency under the Office of the President (OP).

In his Feb. 18 memorandum to PRA Chair Alberto Agra and General Manager Janilo Rubiato, Executive Secretary Salvador Medialdea said the OP “interposes no objection” in granting notices to proceed with the Manila Solar City project. Such notices were issued by PRA on Feb. 22 to the City of Manila and Manila Goldcoast Development Corp. (MGDC) consortium.

Manila Solar City is envisioned as a mixed-use township atop a forest canopy with infrastructure and transport systems to be built by the joint venture between the Manila city government and MGDC. All buildings will be pedestalized to allow room for abundant greenery, lush parks, open spaces, and wind corridors.

Pedestrian walkways and an automated people mover system will connect residents and visitors from one area to another. In line with sustainability and self-sufficiency plans, Manila Solar City also aims to be the country’s first urban farming and aquaculture city with programs for hydroponics, vertical farming systems, and habitats for marine life.

Renewable energy facilities will harness solar and wind power, with electric and communication lines protected in an aqueduct system between elevated transport highways to keep them safe from natural disasters. State-of-the-art water treatment and sewage facilities will be put in place along with provisions for rainwater collection and storage.

Way back in 1991, MGDC was given the green light by PRA’s predecessor agency, the Public Estate Authority, to pursue the project involving the reclamation of 148 hectares between the Manila Yacht Club and the Cultural Center of the Philippines complex off Roxas Boulevard.

This is part of the Manila-Cavite Coastal Road Reclamation (MCCRR)-North Sector Project. Two decades later, PRA affirmed through a board resolution its previous award of the MCCRR-North Sector Project to MGDC. The reclaimed area will have three islands that are envisioned as residential, commercial, and tourism hubs.

MGDC belongs to the Solar Group of Companies owned by the Tieng family, which is into telecommunications, property development, finance, media, logistics, food distribution, pharmaceuticals, fastfood services, automotive, and aviation. Among its other subsidiaries are Solar Entertainment Corp., Domestic Satellite Philippines Inc., Solar Resources Inc., Federated Distributors Inc., and SkyJet Airlines.

 

J. Albert Gamboa is CFO of the Asian Center for Legal Excellence and chairman of FINEX Publications.

Developers, investors seen turning to REIT to diversify their portfolios

MORE investors and property developers are expected to tap into the real estate investment trust (REIT) market after the country’s first REIT showed stable returns, JLL Philippines said on Thursday.

Investments in REIT may even help boost the economy, the real estate services and consultancy firm said.

“We believe REITs will play an important role in jumpstarting the economy from the adverse effects of the pandemic and will promote growth in the real estate sector,” P. Ryan Isip, JLL Philippines’ head of capital markets, said in a press release.

The firm said market sentiment had been positive after Ayala-sponsored AREIT, Inc. reported a 42% jump in net earnings to P1.23 billion last year.

“Because of the nature of REITs, properties will need to be transparent in [their] income, occupancy, and prospects to make it more attractive to be invested in. Due to this, the REIT market promotes transparency in the real estate industry,” Mr. Isip said.

The REIT market has become attractive as more property developers are expanding their portfolios. REIT-listed properties may be cheap funding sources for developers looking to raise capital for other projects.

Developers who wish to increase their properties’ value may consider listing them under a REIT to boost marketability.

“REIT-listed properties tend to be better managed and maintained to make them attractive for tenants to move in,” Mr. Isip said.

The REIT market also has opportunities for growth in logistics and co-living sectors, and JLL Philippines believes that this will further attract new investors.

Despite the office sector being stagnant due to the shift to work-from-home arrangements, the consultancy firm expects REITS to attract property developers.

“Outsourcing firms in Metro Manila that are looking to expand in other key urban areas such as Metro Cebu and Davao City will need office properties to move into. This is where developers can come in to meet the demand, and this demand will make the office sector still an attractive asset class for REITs in the long term,” Mr. Isip said.

“Ultimately, REITs will help attract a lot of investors in the medium- to long-term and will pave way for us to develop capital investments in the country,” he added. — Keren Concepcion G. Valmonte

To discuss a pay raise, should I go to HR or my boss?

I’ve been a manager for more than six years after 10 years of service with my company. Three years ago, all managers received a 2% increase across the board, without regard for individual work performance. That was the last we heard on pay from management. I am feeling demotivated by my current salary due to rising prices and mounting family expenses. Should I go to HR or directly to my boss? — Land Mine.

It depends. If you have turned consistently strong performances for at least three years, go to your boss to explore the possibility of increasing your pay. Your boss may be too busy to pay close attention to these things. You have what it takes to ask for a raise and need to gently remind your boss. If you are not in that situation, go to HR for advice on company’s policy. Be diplomatic and pursue your inquiries with finesse.

Don’t be naive about asking for a raise if you’re a dead man walking with a poor performance record, hanging on only because the boss is tolerant. Going to HR to inquire about pay policies runs the risk of tipping off to your boss. Make sure HR is friendly. If not, you’ll be in a jam after HR informs your boss of your undeserved aspirations.

By consistent high performer, I mean your work performance must be rated above-average or consistently beyond the expectations of management. To be specific, you must have logged in at least 15 to 20% over the minimum requirement over two to three years. If I were your boss, I would not hesitate to give you the pay raise you deserve, if not give the equivalent in benefits.

To illustrate, let’s compare the case of salesmen “A” and “B.” Both have sales quotas of $50,000 a month. Over the past three years, “A” has logged average monthly sales of $60,000, which I consider an exceptional performance that should be rewarded with a raise, if not a promotion.

On the other hand, “B,” who is selling the same product, has met the sales target of $50,000 over the same period, the minimum requirement for the job. He should not be given a raise and must settle for the standard commission.

To ask another question: Why should you reward someone who has met expectations? This is the same question that I ask about handing out perfect attendance awards — a common practice in some manufacturing firms. To put in another way, why do you need to give a perfect attendance award to people who are required to report daily and on time?

This example I’m giving you is the same answer I gave to a young junior team leader at a call center. Be very clear about how “average performance” and “above-average performance” are defined.

IMPORTANT FACTORS
But tell me. Why should management be concerned about personal circumstances like rising prices and family expenses? Unless you’re working for a charitable institution, expect your management to ignore any such pleas. It will only be interested in improving your situation if you’ve proven yourself to be an asset to the organization. If you’re an average worker turning in only the minimum requirement, you’ll need a better reason to seek a raise.

You can rule out seniority. It will not count in dynamic organizations that are meritocracies. HR may well inform you that the organization following certain pay and perk standards that are based on the following considerations:

One, executive compensation philosophy. Generally, organizations decide on the number of management job grades. The fewer the job grades are, the better as this “gives ample opportunity for high-performing employees to receive higher pay based on merit,” according to my former HR boss, lawyer Ranulfo P. Payos, a long-time vice-president at the Employers Confederation of the Philippines.

Two, salary broad-banding. Related to number one, broad-banding requires collapsing and maintaining several pay grades into fewer broad bands, with each band having minimum and maximum pay levels, but without the traditional midpoint seen in other salary structures. The bands are established to make work skills and competency requirements imperative and relate them to market standards.

Three, internal and external equity. “Internal equity” ensures that all management executives within the same organization are paid the same compensation and benefits, depending on whether an executive holds a “big” or “small” job compared to others. “External equity” means that executives are paid competitively relative to other organizations of the same size.

Last, industry salary standards. To make “external equity” work, your HR must be fully abreast of market requirements and salary surveys that ensure your current pay structure is competitive, if not above the pay package of other companies, competitors and non-competitors alike. These rates are dictated by industry competition, organization size, experience and the “hot skills” of people that are difficult to source.

HOW THEY SAY ‘NO’
One of the most difficult things to do, whether you’re the boss or HR, is when you’re confronted by an employee seeking a raise. Try to put yourself in their shoes and listen for their response. Make sure to get the right answer. Aside from the factors listed above, you may also hear reasons like budgetary constraints, poor business conditions, and competition.

In their attempt to be courteous and diplomatic with you, they may not even mention their views of your work performance. Therefore, be careful not to push your luck. Your personal financial standing is not as strong a justification for a raise as you think.

I know it’s disappointing, but that’s the way things are.

 

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

Stuff to do (03/05/21)

Instituto Cervantes’ film series focus on female film pioneers

INSTITUTO Cervantes de Manila celebrates Women’s Month by presenting the online film cycle “Pioneras,” a tribute to the first Spanish female filmmakers. The films will be shown through the Instituto Cervantes channel on the Vimeo platform vimeo.com/institutocervantes and will be freely accessible for 48 hours from their start date and time. The series, which features six films, will kick off on Mar. 10 at 3 a.m. with the online screening of Segundo López, aventurero urbano (available for 48 hours until 3 a.m. on Mar. 12). Directed by Ana Mariscal in 1953, this comedy is about an illiterate man from the province arriving in Madrid with no money, seeking to try his luck in the city. The drama La Gata, directed by Margarita Alexandre in 1956, revolves around María, the daughter of a farm overseer, who falls in love with one of the workers with dreams of being a bullfighter. The film will be available from Mar. 13 to 15. The film cycle continues on Mar. 17 with El crimen de Cuenca (1979) by Pilar Miró. Based on a true story, two men have been accused by the authorities of murdering another person in spite of the lack of conclusive evidence. Miró’s bravery in making this film caused friction with the authorities, the story behind which was a real scandal of its time. The succeeding screenings will be documentaries. On Mar. 20, catch Josefina Molina’s documentary Función de noche (1981), which portrays how the actress Lola Herrera was affected by her performance in the play Cinco horas con Mario by Miguel Delibes, the personal crisis she experienced, and the eventual collapse of her marriage. On Mar. 24, catch Cecilia and José Juan Bartolome’s comedy Después de…: No se os puede dejar solos (1981). During the early days of Spain’s transition to democracy, the political opinions of the people, regular citizens, and government officials alike, were gathered by a small group of filmmakers led by the directors of this documentary. Today, this documentary, which helps the viewer understand how various sectors of Spanish society thought of their past and how it planned to construct its future, is a true milestone that defines the history of Spanish cinema. The series will close with Después de…: Atado y bien atado (1981), again by Cecilia and José Juan Bartolomé, on Mar. 27. A continuation of the previous documentary, this second part shows us the fear of the ultra-conservative sectors towards the construction of a completely different nation, and their plan to launch a coup d’état on February 1981. The films are in Spanish with English subtitles. Admission is free. For further information, check out Instituto Cervantes’ website https://cultura.cervantes.es/manila/en/espacio-femenino.-pioneras/140667 or its Facebook site www.facebook.com/InstitutoCervantesManila.

Rustan’s The Beauty Source #GRLPWR Make It Happen

RUSTAN’S The Beauty Source kicks off International Women’s Month with #GRLPWR Make It Happen on Mar. 5, 4 p.m. via Rustan’s The Beauty Source’ Facebook Page. It features beauty conversations with writer and student Nikki Huang; director, entrepreneur, and content creator Janina Manipol; multimedia host, PAWS advocate, and holistic meditative enthusiast Joey Mead-King; and journalist, CNN Philippines senior anchor, and correspondent Pinky Webb.

Inspiring films, shows on HBO GO in March

HBO GO streams inspiring shows and movies this March. Ben Affleck plays a former star player who is asked to coach his alma maters’ less than stellar basketball team in The Way Back which will premiere on Saturday, March 6, 9 p.m., on HBO GO and HBO. The HBO Max Original film, Charm City Kings, will be available exclusively on HBO GO and HBO on Tuesday, Mar. 9, 9 p.m. It follows 14-year-old Mouse (Jahi Di’Allo Winston) who desperately wants to join the Midnight Clique, an infamous group of Baltimore dirt-bike riders who rule the summertime streets. When the Midnight Clique’s leader, Blax (Meek Mill), takes the boy under his wing, the lure of revving his own dirt bike skids Mouse toward a road way past the straight and narrow.  Premiering on Thursday, March 11, exclusively on HBO GO, Genera+ion follows a diverse group of high school students whose exploration of modern sexuality (devices and all) tests deeply entrenched beliefs about life, love and the nature of family in their conservative community. Get an electrifying look into the life of Serbian-American inventor Nikola Tesla in the upcoming biography drama, Tesla, which will premiere on Saturday, Mar. 27, 9 p.m., exclusively on HBO and HBO GO. The film tracks Tesla’s uneasy interactions with his fellow inventor Thomas Edison and his patron George Westinghouse. Stream or download these movies and shows on HBO GO.  Download the app from the App Store or Play Store and enjoy a free trial. HBO GO can also be accessed via Cignal or at https://www.hbogoasia.com/.

Ride Revolution takes its classes outdoors

BOUTIQUE indoor cycling studio Ride Revolution at Shangri-La Plaza brings its most popular classes safely out in the open air with Ride Outside. This initiative allows members of the Ride Revolution in-studio and virtual communities to share the energy and work out along with other fitness enthusiasts in a safe, socially distanced outdoor setup. Ride Outside will take place at the Shang’s Sky Garden located at Level 6. Interested cyclists will have to book a bike via www.riderevolution.ph. And by booking one seat, they can bring a friend for free. Ride Revolution has implemented a stringent cleaning process, which includes thorough disinfection of all high touch surface areas and fitness equipment used in class. Bikes are spaced at least two meters apart in compliance with social distancing measures. Social distancing reminders such as floor markings and signages are placed within the venue to guide cyclists. Prior to a class, riders will be asked to register their attendance via a contactless check-in procedure. A temperature check will be conducted upon entry. Those with temperatures 37.5 degrees Celsius and up will not be allowed to join the class. Before admission, riders must also fill out a health declaration form via QR code. Late entries and re-entries will not be accommodated. Sanitizing wipes and alcohol will also be provided to disinfect the hands or further sanitize the equipment. A strict policy on mask-wearing in all areas before, during, and after the ride will also be implemented. For updates and inquiries, follow Shangri-La Plaza on Facebook at www.facebook.com/shangrilaplazaofficial and on Instagram @shangrilaplazaofficial.

Fresh Benguet veggies at BGC

WITH a goal of helping displaced farmers earn a living, Bonifacio Global City (BGC) brings good quality Benguet staples at Bonifacio High Street through it’s My Street High Street initiative, which will run every weekend for the whole month of March. There will be a wide selection of fruits and vegetables straight from the Benguet Collective Producers. All-time favorites like the ube (purple yam) jam from Good Shepherd, brewed coffee, mixed greens, and fresh strawberries are also up for grabs. And since there’s no middle man costs involved, the farm to table goods are much cheaper. Order in advance through Jhona Bitan at 0961-294-3083 and pick up the items at the My Street High Street booth. For details, visit Bonifacio Global City’s official facebook page at https://www.facebook.com/bonifacioglobalcityph.

DOTA: Dragon’s Blood on Netflix

THE FANTASY series DOTA: Dragon’s Blood premieres on Mar. 25 on Netflix. It tells the story of Davion, a Dragon Knight, who, following encounters with a powerful, ancient eldwurm and Princess Mirana who is on a secret mission of her own, Davion becomes embroiled in events much larger than he could have ever imagined.

How PSEi member stocks performed — March 4, 2021

Here’s a quick glance at how PSEi stocks fared on Thursday, March 4, 2021.

Philippines falls in economic freedom ranking

THE PHILIPPINES slid three spots to 73rd out of 178 economies in a global ranking on economic freedom by The Heritage Foundation, which took note of the government’s continued failure to address corruption and to ease trade restrictions. Read the full story.

Phl falls in economic freedom ranking

PHL shares snap rally on profit taking, virus fears

THE benchmark index ended its four-day winning streak, closing in the red on Thursday on profit taking following developments in the coronavirus disease 2019 (COVID-19) situation in the country.

The Philippine Stock Exchange index (PSEi) went down by 60.27 points or 0.86% to close at 6,882.49 on Thursday, while the broader all shares index declined by 23.54 points or 0.56% to 4,163.22.

“The rally that we have been seeing in the last few days is confirmed to be more of a correction after several weeks of decline instead of higher valuations due to the rollout of vaccines or easing of restrictions,” AAA Southeast Equities, Inc. Research Head Christopher John J. Mangun said in an e-mail. “The market’s general trend is still sideways as the sentiment remains cautious due to the uncertainty of the economy’s recovery.”

“Inflation worries arising from the various stimulus measures in many economies and rising COVID-19 cases caused by the South African variant in Pasay could mean a repeat of last year’s economic ordeal as a worst case,” PNB Securities, Inc. President Manuel Antonio G. Lisbona said in a text message.

External developments also continued to affect the market, another analyst said.

“The rise in the US bond yields and the elevated inflation expectations here at home weighed on investor sentiment triggering Thursday’s profit taking,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

“Trading volumes were also notably lighter [on Thursday]…, possibly due to investor caution ahead of the February inflation report due out [on Friday],” China Bank Securities Corp. Research Head Rastine Mackie D. Mercado said in an e-mail.

Value turnover fell to P7.11 billion yesterday with 2.7 billion shares switching hands from the P34.09 billion with 221.53 billion shares seen the previous day.

Majority of sectoral indices declined on Thursday, except for industrials, which rose by 17.21 points or 0.19% to close at 8,834.05.

Mining and oil dropped 182.41 points or 1.97% to finish at 9,076.89; property fell by 45.34 points or 1.28% to 3,477.62; holding firms went down by 82.77 points or 1.15% to 7,083.48; financials lost 6.08 points or 0.41% to end at 1,473.69; and services inched down by 1.51 points or 0.1% to 1,449.37.

Decliners outnumbered advancers, 119 against 110, while 40 names closed unchanged.

Net foreign selling also rose to P627.63 million on Thursday from the P350.57 million seen on Wednesday.

PNB Securities’ Mr. Lisbona said the market could close at 6,612 today, placing the PSEi’s immediate resistance at the 7,000 level.

“Trading [on Friday] may take cue from the February consumer price index data, which is set to be released. A February inflation print, which nears or exceeds the upper end of the Bangko Sentral ng Pilipinas’ projection which is at 5.1%, may cause a sell-off since it would intensify concerns towards the price level situation in our country,” Philstocks Financial’s Mr. Tantiangco said. — K.C.G. Valmonte

Peso weakens on expectations of faster inflation

THE PESO weakened versus the greenback on Thursday on expectations that February inflation data to be released on Friday would be faster than last month’s print.

The local unit closed at P48.62 per dollar on Thursday, retreating by 14 centavos from its P48.48 finish on Wednesday, data from the Bankers Association of the Philippines showed.

The peso started Thursday’s session at P48.53 per dollar, which was also its intraday best. Meanwhile, its weakest showing was at P48.65 against the greenback.

Dollars traded decreased to $817.23 million on Thursday from the $1.094 billion logged on Wednesday.

The peso dropped versus the dollar as investors expect a faster February headline inflation print, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

A BusinessWorld poll of 16 analysts last week yielded a median estimate of 4.8% amid elevated food and fuel prices. If realized, this would be the second straight month of headline inflation beyond the central bank’s 2-4% target range and also the quickest since the 5.1% print in December 2018.

Inflation stood at 4.2% in January. The Philippine Statistics Authority will release February inflation data this Friday.

Meanwhile, a trader attributed the peso’s weakness to the market’s reaction to new signals from the US Federal Reserve on quantitative easing.

“The peso weakened after Chicago Fed President Charles Evans hinted in his speech about the possibility of extending the maturities of Fed’s asset purchases,” the trader said in an e-mail.

Mr. Evans said the recent trend of faster rise in bond yields reflect improvements in the economy, Reuters reported. He said despite the increase, yields are still below the pre-pandemic 1.75% and are being held down in part by global demand for safe assets.

For today, Mr. Ricafort expects the peso to move within the P48.55 to P49.70 band versus the dollar while the trader gave a forecast range of P48.50 to P48.70. — L.W.T. Noble with Reuters

Tunneling equipment for Kaliwa Dam expected in May

TUNNELING EQUIPMENT for the Kaliwa Dam is due to arrive in May, signaling the imminent resumption of work on the contentious project, Cabinet Secretary Karlo Alexei B. Nograles said at a televised briefing Thursday.

“Pag dumating ‘yung tunnel boring machine, mas mapapabilis natin, mas makikita natin ‘yung mabilis na pag-usad ng project (When the machinery arrives, things will move forward and progress will be more evident),” he said.

The government hopes to develop the Kaliwa Dam, on the Kaliwa River in Quezon and Rizal provinces, as an alternative source of water for Metro Manila by 2025, Mr. Nograles said.

The machinery is needed to build an integrated reservoir on the border of the two provinces, eventually allowing it to supply 600 million liters of water per day to the capital region.

The China-funded project has been resisted by indigenous communities, religious groups, and environmental activists.

In report in 2019, the Commission on Audit questioned a decision by the implementing agency, the Metropolitan Waterworks and Sewerage System (MWSS), to issue a notice to proceed to contractor China Energy Engineering Corp. Ltd. covering the detailed engineering, design, and construction of the project, without having obtained prior consent from affected communities.

Separately, Mr. Nograles said the revised water concession agreements being discussed by the government with Manila Water Co., Inc. and Maynilad Water Services, Inc., are now in the final phase of review.

“‘Yung inatasan to work out with proposed water agreements (The water agreement revisions we were ordered to work on) are already in final stages… finishing touches na lang po,” Mr. Nograles said at the same briefing.

He provided no further details.

The President ordered a reworking of the water concession agreements held by the two companies, which supply water to the capital region, in the wake of the 2019 water crisis.

The MWSS is currently working on six major water projects to improve water security in the National Capital Region, Mr. Nograles said.

“All together, these projects will be able to supply a total of 1,368 million liters per day (MLD).”

Mr. Nograles said the projects include the New Centennial Water Source — Kaliwa Dam Project; the Long Term Water Source Development for Metro Manila Project (Upper Kaliwa and Kanan River); the East Bay Water Supply Project – Phase 1; the East Bay Water Supply Project – Phase 2; the Wawa-Calawis Water Supply Project – Phase 1; and the Wawa-Calawis Water Supply Project – Phase 2. — Kyle Aristophere T. Atienza

Meat inspection facility expected to be completed at MICT by December

A FACILITY to inspect imported meat, which farmers have called critical for preventing the further spread of African Swine Fever (ASF), is expected to be completed by December at the Manila International Container Terminal (MICT), an agriculture department official said.

At a virtual briefing Thursday, Department of Agriculture National Livestock Program Director Ruth S. Miclat-Sonaco said: “The facility is projected to be done within the year, around December, if everything goes well. Then hopefully by next year, the other facilities will be established at Batangas, Subic, Cebu, and Davao.”

Farmers have blamed imported meat as the source of the ASF outbreak, and called the establishment of the facility critical to limiting the further spread of the hog disease, which has depleted the Luzon herd and made pork more expensive, threatening another inflation crisis.

In a statement Thursday, the Philippine Maize Federation, Inc. (PhilMaize) and the Philippine Chamber of Agriculture and Food, Inc. (PCAFI) said they consider the facility to be critical in preventing the spread of ASF, and expressed hope that construction will proceed without delay.

“ASF as we know comes from outside of our country.  We are very strict and compliant with all protocols in our movements from within our territory. Yet we failed (to prevent the disease from getting through) the borders,” PhilMaize President Roger V. Navarro said.

The Department of Agriculture (DA) has said that the first meat inspection facility which will go up at the MICT, to be known as an agricultural commodity examination area, will cost P521.57 million.

PCAFI President Danilo V. Fausto urged the government to undertake a major hog vaccination campaign.

Mr. Fausto said the DA and Bureau of Animal Industry should procure ASF vaccines from Vietnam, adding that the spread can be mitigated with the use of rapid test kits developed by the Central Luzon State University.

Agriculture Secretary William D. Dar has said that the DA is in talks with suppliers in the UK and Vietnam for the possible ASF vaccine trials. — Revin Mikhael D. Ochave

Damage from November typhoons, eruption of Taal in 2020 reckoned at P113 billion

THE National Economic and Development Authority (NEDA) said the damage caused by the Taal Volcano eruption and the typhoons of late 2020 has been estimated at P113.4 billion.

The eruption of Taal Volcano in January 2020 cost the economy at least P8.4 billion in damage to assets as well as foregone income, while the typhoons and resultant flooding in the fourth quarter caused P105 billion in losses, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said in a speech Thursday during the launch of the “Ready to Rebuild” program, which aims to help government offices draft better rehabilitation plans.

Losses due to severe natural disasters between 2010 and 2019 were estimated at P463 billion, he said, citing data from the Philippine Statistics Authority.

“These disasters and emergencies have led to billions worth of government resources being spent for cash assistance, rehabilitation and reconstruction efforts which could have been spent for other programs to improve the lives of our fellow citizens and promote more sustainable development,” he said.

Mr. Chua said the most destructive typhoons in recent history were Typhoons Pedring in 2011, Pablo in 2012, Yolanda in 2013, Glenda in 2014, Lando in 2015 and Ompong in 2018.

“NEDA has been working and strongly advocating for more investment in disaster-risk reduction programs. We need to strengthen pre-disaster planning, particularly disaster mitigation and preparedness. Proper planning is key to guiding the recovery efforts and to build more resilient communities to improve structures, services and governance,” he said.

He added proper planning will also help government agencies identify appropriate measures to minimize the impact of natural disasters and assist in determining budgets.

Mitigating, preparing, adapting and responding quickly to natural disasters will result in fewer disruptions to economic activity and provide communities with more safeguards, according to Ndiame Diop, the World Bank’s country director for Brunei, Malaysia, the Philippines and Thailand, speaking at the same forum.

“When disasters happen, it is best not to be caught off guard and with no plans nor financial resources to recover. Local leaders should equip themselves with adequate knowledge and tools to mobilize quickly and provide just in time support to their people,” Mr. Diop said.

Mr. Chua also called on local government units to institutionalize training by next year when they receive a larger share of government revenue in compliance with a Supreme Court ruling, known as the Mandanas case, reworking the revenue-sharing arrangements between the national and local governments. — Beatrice M. Laforga

IP monitors can now ask platforms to take down ads for fake goods

THE Intellectual Property Office of the Philippines (IPOPHL) has authorized its enforcement unit to request the removal of online posts and advertisements for counterfeit and pirated goods.

The agency officially expanded the powers of its enforcement arm to include digital and online channels via its Memorandum Circular No. 2020-049.

The enforcement arm will need to pursue its takedown request in coordination with other agencies and service providers, following the receipt of complaints from intellectual property rights owners, IPOPHL said in a statement Thursday.

IPOPHL also has the power to issue cease-and-desist orders, order the removal of counterfeit and pirated goods from physical establishments, and ask other government agencies to cancel business permits and other licenses.

Violators now have 72 hours to comply with enforcement decisions, from 60 days previously.

Under the revised rules, IPOPHL can monitor online and physical marketplaces without needing to receive complaints.

“(This type of monitoring allows our office to) take on a more proactive approach and help brand owners screen markets of IP (intellectual property) violating listings, with prospects of reporting possible infringements to concerned IP right holders for their validation and appropriate action,” IPOPHL Director General Rowel S. Barba said.

E-commerce firms Lazada and Shopee recently signed an agreement establishing a procedure for dealing with counterfeit products on their platforms, in coordination with brand owners.

IPOPHL, however, said that amendments to the intellectual property code are still needed for the agency to issue take-down orders on infringing websites, for enforcement by the National Telecommunications Commission.

Under such an amendment, “the National Telecommunications Commission will automatically and immediately enforce it, without further evaluation as their systems can trust the expertise and competence of IPOPHL,” IPOPHL Deputy Director General Teodoro C. Pascua said.

The revised rules took effect on March 3. — Jenina P. Ibañez

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