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OVP spox says no confidential funds in 2026 budget

VICE-PRESIDENT Sara Duterte at the deliberations on the proposed 2025 budget for the Office of the Vice President at the House of Representatives in Quezon City. — PHILIPPINE STAR/MIGUEL DE GUZMAN

THE OFFICE of the Vice-President (OVP) on Wednesday said that it would no longer seek confidential and intelligence funds for its 2026 budget, its spokesperson said, amid questions over Vice-President Sara Duterte-Carpio’s 2022 secret fund expenditure.

“There are no confidential funds, we did not request that,” OVP Spokesperson Ruth B. Castelo told reporters, as the Department of Budget and Management (DBM) hiked the OVP’s budget to P903 million from the initial P803.6 million the agency allocated for 2026.

Ms. Castelo added that the almost P100-million increase will be used for the hiring of more personnel and the purchase of information technology (IT) equipment to improve its office functions.

“We requested for additional personnel services — of course, there is a cost to the additional employees — to fulfill the functions and other IT equipment,” she said.

Party-list Rep. Renee Louise M. Co said that the VP must first prove her innocence before granting the OVP a budget increase for 2026.

“We want accountability, not just delicadeza. Confidential or not, we cannot entrust the larger budget to VP Sara because the identity of Mary Grace Piattos and other corruption anomalies are still unanswered,” she said in a statement.

“Either prove her innocence in the impeachment trial first or resign from the OVP before a budget increase can be justified.”

The House of Representative had held an inquiry over Ms. Duterte’s alleged misuse of confidential funds allocated for the OVP in 2022 and the Department of Education, when she sat as its secretary in 2023.

This is also among the charges against Ms. Duterte when she was impeached by more than 200 congressmen last February. She has denied any wrongdoing.

Her other ouster charges include unexplained wealth, and plotting the assassination of President Ferdinand R. Marcos, Jr., his wife and the Speaker. Her impeachment trial awaits in the Senate.

Meanwhile, Ms. Castelo added that the Commission on Audit (CoA) had given the OVP an unmodified audit opinion for its 2024 annual audit report.

“Unmodified opinion means that the financial statements were fairly presented. It is honest, it’s transparent,” she said, noting an 85.6% utilization rate for its 2024 budget.

The OVP said that state auditors had affirmed that financial statements within the 2024 Annual Audit Report were “accurate, reliable, and compliant with applicable laws, regulations, and accounting standards.”

An unmodified opinion is given when auditors conclude that the financial statements, as a whole, are free from material mis-statements, which could arise from either error or fraud.  — Adrian H. Halili

Bills restoring NFA powers, creating Water Resources dep’t filed in Senate

PHILIPPINE STAR/MIGUEL DE GUZMAN

MEASURES RESTORING the regulatory powers of the National Food Authority (NFA) and creating dedicated government agencies for water resources management have been filed in the Senate.

Under Senate Bill No. 284, Rice Industry and Consumer Empowerment (RICE) bill, Senator Francis G. Escudero sought to grant the NFA the authority to import rice for its buffer stocking requirement in cases of emergencies.

“This bill will not restore the quantitative restrictions abolished by the Rice Tariffication Law. Rather, it will enable targeted state intervention to protect public welfare, support farmers, and ensure food security,” Mr. Escudero said in the explanatory note of the bill, filed on Wednesday.

“Rice is the staple crop of the Philippines, with each Filipino consuming around 136 kilograms each year. Given its central role in the Filipino diet, regulation is needed to protect families from the price fluctuations of this essential commodity.”

The bill proposes to reduce buffer stock requirement for rice to nine days from 15 days.

The NFA will also be granted the authority to sell rice to accredited NFA retailers, government and non-government agencies, or through public auction.

“The NFA shall dispose, on a monthly basis, a maximum of twenty 25% of its total existing buffer stock unless directed by the NFA council to dispose of a larger portion,” the bill said.

The Rice Tariffication Law of 2019 removed the NFA’s regulatory powers to import rice and intervene in the market if rice prices are elevated.

The proposed RICE bill also grants the Department of Agriculture (DA) the powers to impose a floor price for palay (unmilled rice) to protect farmers.

“The DA shall have the authority to set and enforce national, regional, or provincial floor prices of palay below which rice traders shall be prohibited from purchasing palay from farmers,” the bill stated.

The proposed measure also allows the agency to seize hoarders of rice stocks in accordance with Republic Act No. 12022, Anti-Agricultural Economic Sabotage law.

The bill also enforces strict penalties against practices that distort supply and pricing of rice, with violators facing a fine of up to P2 million or imprisonment of up to two years. Traders also risk revocation of their license, trading permits, or accreditation.

A similar measure was earlier filed before the House of Representatives by Leyte Rep. Ferdinand Martin G. Romualdez.

WATER RESOURCES AGENCIES
Separately, Senator Emmanuel Joel J. Villanueva on Tuesday filed a bill that seeks to create the Department of Water Resources and Water Regulatory Commission for a “more efficient, transparent, and effective management of the sector.”

The still-unnumbered Senate Bill, National Water Resources Management bill, tasked the agencies to craft policies and plans for the effective management of the country’s water resources.

The bill provided that the functions of the National Water Resources Board (NWRB), Local Water Utilities Administration (LWUA), River Basin Control Office, Manila Bay Coordinating Office, Water Supply and Sanitation Unit, and Water Resource Management Office will be absorbed by the new department.

It also transfers functions of the Department of Public Works and Highways, with regard to planning, programming, administration monitoring and management of the National Sewerage and Septage Management Program. It will also perform functions of the now-dissolved Pasig River Rehabilitation Commission.

Meanwhile, the Water Regulatory Commission will be established as an independent body, which will adopt the economic regulatory units and functions of the Metropolitan Waterworks and Sewerage System, NWRB, and the LWUA.

The Commission will be composed of five full-time members, including a chairperson and four members, all of whom will appointed by the President. — Adrian H. Halili

Marcos wants zero out-of-pocket hospitalization expense, Palace says

PRESIDENT Ferdinand R. Marcos, Jr. joined the Philippine Charity Sweepstakes Office in distributing 397 medical vehicles to various local government units in Luzon during a ceremony at the Quirino Grandstand in Manila on Wednesday. — PHILIPPINE STAR/ NOEL B. PABALATE

THE ADMINISTRATION of President Ferdinand R. Marcos, Jr., aims to reduce, if not eliminate, out-of-pocket hospitalization expense for Filipinos, the Palace said on Wednesday.

“Ideally, no Filipino would have to pay anything when they are hospitalized,” said Palace Press Officer Clarissa A. Castro in Filipino during a news briefing.

“So as much as possible, the President’s aspiration is to reduce, or if possible, eliminate entirely the out-of-pocket expenses of our countrymen when they are hospitalized.”

This comes as Mr. Marcos promised to provide all local government units (LGUs) with a patient tranport vehicle (PTV) by year-end at the distribution ceremony at Quirino Grandstand in Manila on the same day. He said 680 units have already been distributed since the start of his presidency in June 2022.

The government handed over an additional 397 vehicles to LGUs across Luzon on Wednesday, with 123 more set for Eastern Visayas and 105 for Mindanao. The vehicles were procured through the Philippine Charity Sweepstakes Office (PCSO).

Under the latest distribution, 397 units will be allocated as follows: 30 units to Ilocos, 72 to Cagayan Valley, 100 to Central Luzon, 27 to Calabarzon, 59 to Mimaropa, 64 to Bicol Region, and 35 to the Cordillera Administrative Region.

“With the Philippine Health Insurance Corp. (PhilHealth), we are expanding the insurance coverage,” Mr. Marcos said in Filipino, according to a transcript from his office.

“We are lowering the payment and the fees because right now, patients still have to contribute something when they get checked or treated. We are gradually reducing the patient contribution,” he added.

The President noted that if the government successfully reduces patient contributions and fixes the economy, “then maybe we can reach the point where patients won’t have to contribute anything anymore.”

The President underscored that the initiative goes beyond mere vehicle distribution, as it forms part of a broader plan to strengthen the national healthcare system.

“So, it is an ongoing program,” he added. “It just so happens that this release is mostly for Luzon, but we will continue doing this, and we will not stop until we have provided for all the needs of our LGUs and fulfilled their requirements for these PTVs.”

According to the Chief Executive, the coronavirus pandemic showed several gaps in the country’s healthcare system. These lessons, he added, are now being applied to build stronger systems.

“We applied those lessons to our programs, not just to these patient transport vehicles but to our entire healthcare system, including our hospitals and even PhilHealth,” he noted.

Mr. Marcos earlier approved a P2.2-billion budget to procure and distribute 1,000 PTVs nationwide. Each unit is equipped with essential medical tools, including a stretcher, oxygen tank, blood pressure monitor, and other supplies to ensure safe and timely patient transport.

Unlike ambulances, PTVs are designated for non-life-threatening cases, such as scheduled medical visits, routine checkups, and hospital discharges. The use of emergency blinkers and sirens is strictly prohibited. — Chloe Mari A. Hufana

DoE monitors suspected oil cartel

PHILSTAR FILE PHOTO

THE DEPARTMENT of Energy (DoE) is not ruling out the possibility of cartelization among oil industry players as it continues to monitor any anti-competitive practices.

“I would not say that there is no cartel. Who they are, that is something to confirm, but if there is no cartel, there’s no purpose for OIMB (Oil Industry Management Bureau) to be on guard all the time,” DoE Officer-in-Charge Sharon S. Garin said in a press briefing on Wednesday.

“But I would say there’s still some form of anti-competitive behavior in some, not all,” she said.

Questions on cartelization floated due to seeing similar price adjustments despite varying costs of supply procurement.

Under the Republic Act (RA) No. 8479, the Downstream Oil Industry Deregulation Act of 1998, cartelization refers to “any agreement to fix prices either by products or by areas, in restraint of trade or free competition.”

RA 8479 aims to liberalize and deregulate the downstream oil industry by removing the government’s power to directly control oil prices and instead allowing market forces to determine pricing, aiming to foster a competitive market.

OIMB Assistant Director Rodela I. Romero explained that oil companies based their price adjustments on Mean of Platts Singapore, a benchmark used for refined oil products, as well as Dubai crude.

“It’s [the monitoring of cartelization] still a working progress because even the smuggling is still not curtailed,” Ms. Garin said.

She said that there are “disparities” on the imports being reported, which is among the things that the DoE is working with the Bureau of Customs.

“I do believe that there are still players that have yet to play according to the rules, if you ask me. There are still distortions in the reporting, in our observations there are even mistakes,” Ms. Garin said in mixed English and Filipino.

While the DoE has no police powers, Ms. Garin said that the DoE observes possible smuggling activity and endorses to authorized agencies, including the Bureau of Internal Revenue, the Department of Finance, and the Philippine Competition Commission.

On Tuesday, several oil firms implemented a rollback of P0.70 per liter for gasoline, P0.10 per liter for diesel, and P0.80 per liter for kerosene. — Sheldeen Joy Talavera

Palace: No new PCO chief yet

PCO.GOV.PH

MALACAÑANG on Wednesday said Presidential Communications Office (PCO) Secretary Jaybee C. Ruiz is still its ad interim chief, debunking reports that another veteran journalist has been appointed.

“As far as I know, there is no (new secretary) yet,” Palace Press Officer Clarissa A. Castro said in Filipino during a news briefing. “Jay Ruiz remains the acting secretary.”

This comes after reports saying that former Philippine Star journalist Dave Gomez will replace Mr. Ruiz.

Ms. Castro said she cannot deny those reports, as she has not received any update on the change of leadership.

Last May, President Ferdinand R. Marcos, Jr., ordered all cabinet members to tender their courtesy resignations as part of a “bold reset” of his government. This included Mr. Ruiz, but he was later reappointed as acting communications chief.

The Commission on Appointments earlier deferred deliberations on Mr. Ruiz’s appointment as PCO chief.

He was named chief in February this year. A former broadcast journalist, Mr. Ruiz is the Marcos administration’s fourth PCO chief. — Chloe Mari A. Hufana

House probe vs online gambling urged

MACROVECTOR_OFFICIAL | FREEPIK

A LAWMAKER on Wednesday filed a resolution urging the House of Representatives to probe online gambling activities as part of efforts to curb its harmful effects on Filipinos.

Party-list Rep. Nathaniel M. Oducado filed House Resolution No. 42 to provide gambling stakeholders a formal platform to share insights that could guide lawmakers in crafting measures to regulate or ban online gaming in the Philippines.

“There’s a clear need for stronger surveillance, mandatory reporting and expanded rehabilitation services targeting online gambling harm,” he said in a statement.

Momentum is building among lawmakers to impose stricter regulations on the country’s online gambling industry, as concerns over its socioeconomic impact intensify.

“It’s about time we began investigating the crippling effects of online gambling on society, especially illegal or unregulated online gambling,” Party-list Rep. Brian Daniel P. Llamanzares said in a separate statement.

“Reports indicate a sharp rise in gambling-related debt, family strife, school dropouts, and mental health issues linked to unregulated online platforms,” he added.

Also on Wednesday, Mr. Oducado submitted House Resolution No. 43, seeking a congressional probe over the implementation of a vape regulation law to help policymakers plug regulatory gaps in the industry.

He said that widespread availability of wave products and the lack of health warnings make people vulnerable to using them despite known health risks.

“There should be a national campaign focusing on awareness to address misconceptions that vaping is safe, as well as banning advertisements enticing the youth to become vape users,” he said. — Kenneth Christiane L. Basilio

Speaker supports admin’s jobs push

House Speaker Ferdinand Martin G. Romualdez — PHILIPPINE STAR/KRIZ JOHN ROSALES

A CONGRESSMAN on Wednesday voiced support for the Marcos administration’s push to spur job creation, pledging to pursue a legislative agenda aligned with the administration’s development priorities.

In a statement, Leyte Rep. Ferdinand Martin G. Romualdez said he would pursue measures aimed at enabling workers to reskill to better fit future job markets, while also ensuring ample funding for the Labor department and the government’s trade authority to boost employability.

“Strong economic growth is only possible if no Filipino is left behind,” he said. “We must make every opportunity — from skills training to dignified employment — within reach of every hardworking citizen.”

The Philippines’ unemployment rate dropped to 3.9% in May from 4.1% in April, as the number of jobless Filipinos declined to 2.03 million from 2.06 million during the same period.

“We will strengthen President Marcos’ initiatives to create more jobs by working together with foreign investors and the private sector,” said Mr. Romualdez. — Kenneth Christiane L. Basilio

GSIS signs P1-B deal with PSALM, NPC

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THE GOVERNMENT Service Insurance System (GSIS) has signed a memorandum of agreement with the Power Sector Assets and Liabilities Management Corporation (PSALM) and the National Power Corporation (NPC) to settle over P1 billion in unremitted premium contributions arising from NPC’s 2003 restructuring.

“This is a significant day for the former 1,233 employees and their families who have lost their jobs in the course of privatization. Now, we are able to restore the benefits that the law granted to them with the cooperation of PSALM and GSIS. We commit to disbursing the benefits to the qualified beneficiaries in the most expedient and efficient way,” NPC President and Chief Executive Officer (CEO) Fernando Martin Y. Roxas said in a statement late on Tuesday.

The signing followed the ceremonial turnover of the check held earlier on June 17.

“The settlement covers the full restructured obligation for qualified former NPC employees, whose service periods have been validated by the Commission on Audit. GSIS also granted a 60% condonation on accrued interest in accordance with board-approved guidelines,” GSIS said.

GSIS will now proceed with the re-computation and crediting of service periods, allowing eligible claimants to receive their corresponding retirement and insurance benefits.

“Together we made it happen—the shared responsibility of PSALM, NPC and GSIS manifested in this ceremonial signing reflects the common commitment to fiscal responsibility, legal prudence and social justice,” PSALM President and CEO Dennis Edward Dela Serna said. — Aaron Michael C. Sy

VP trial should proceed despite polls

VICE-PRESIDENT SARA DUTERTE-CARPIO — FACEBOOK.COM/MAYORINDAYSARADUTERTEOFFICIAL

THE SENATE must proceed with Vice-President Sara Duterte-Carpio’s ouster trial despite a public opinion poll saying that nearly half of Filipinos disagreed with her impeachment, a lawmaker said on Wednesday.

Pollster Social Weather Stations (SWS) on Tuesday reported that 42% of Filipinos disagreed with the impeachment complaint against Ms. Duterte, 32% agreed, while about 18% were undecided. The remaining 7% said they were not knowledgeable on the matter, it said in a statement on its website.

“Regardless of the result of the survey, we have a constitutional duty that we must face,” Batangas Rep. Gerville R. Luistro told reporters in mixed English and Filipino, based on a statement released by the House of Representatives. “There is nothing more supreme than the Philippine Constitution, because it is the mandate of the people.”

Congressmen overwhelmingly voted to impeach Ms. Duterte in February over accusations ranging from budget anomalies to plotting the assassination of President Ferdinand R. Marcos, Jr. his wife and the House Speaker. She has denied any wrongdoing.

Ms. Luistro, a member of the House prosecution team for the impeachment trial, said the Vice-President should be tried by the impeachment court despite the SWS survey results as the 1987 Constitution mandates it.

She also pushed back against accusations that Ms. Duterte’s impeachment is political persecution.

“If there’s no evidence, that’s political prosecution. But if there is evidence, then that’s legitimate prosecution,” Ms. Luistro said. “As far as we are concerned, we have ample and strong evidence supporting the seven Articles of Impeachment.” — Kenneth Christiane L. Basilio

PSE index surges to 6,500 level on positive data

PHILIPPINE STAR/KRIZ JOHN ROSALES

STOCKS rallied for the third straight day on Wednesday, with the bellwether index climbing to the 6,500 level for the first time in nearly two months, as strong data improved sentiment towards the Philippine economy.

The benchmark Philippine Stock Exchange index (PSEi) surged by 1.1% or 70.74 points to close at 6,504.34, while the broader all shares index rose by 0.88% or 33.45 points to 3,817.62.

This was the PSEi’s best finish in nearly two months or since its 6,551.81 close on May 14.

“The market continued to rally backed by investors’ confidence towards the local economy,” Philstocks Financial Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message. “This comes following the recently released economic figures, which were deemed healthy, including the labor force survey, monthly integrated survey of selected industries, and bank lending data for the month of May.”

“The PSEi gained for the third straight trading day… after US President Donald J. Trump signaled openness to trade negotiations, with possible compromise in terms of much lower tariff rates, as seen in recent months,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

He said the Philippines is “relatively insulated” from the threat of higher US import tariffs given its lower dependence on goods exports. Mr. Ricafort added that the strong data released recently affirm the country’s resilience.

Stock markets around the Asia-Pacific were mixed as investors digested Mr. Trump’s latest, shifting trade salvos, Reuters reported. Japan and South Korea are among major US trading partners in the region facing an Aug. 1 deadline to reach a trade deal or be subjected to new tariff rates, although Mr. Trump has sent mixed signals on how flexible that date is.

Only two US agreements, with Britain and Vietnam, have been reached since Mr. Trump’s April 2 “Liberation Day” reciprocal tariffs announcement roiled markets.

Majority of sectoral indices closed in the green on Wednesday. Services went up by 2.51% or 53.66 points to 2,183.89; property climbed by 2.37% or 57.61 points to 2,480.25; industrials rose by 1.08% or 98.59 points to 9,215.54; and holding firms increased by 0.93% or 52.64 points to 5,691.54.

Meanwhile, financials dropped by 0.77% or 17.44 points to 2,248.54; and mining and oil slipped by 0.05% or 4.92 points to 9,194.78.

“Bloomberry Resorts Corp. was the day’s top index gainer, jumping 5.78% to P4.76. China Banking Corp. was the worst index performer, dropping 2.32% to P65.40,” Mr. Tantiangco said.

Value turnover rose to P7.79 billion on Wednesday with 1.41 billion shares traded from the P6.96 billion with 1.06 billion issues exchanged on Tuesday.

Advancers bested decliners, 110 versus 90, while 50 names were unchanged.

Net foreign selling increased to P220.66 million on Wednesday from P168.05 million on Tuesday. — Revin Mikhael D. Ochave with Reuters

Peso weakens anew vs dollar as markets await clarity on Trump tariffs

BW FILE PHOTO

THE PESO weakened against the dollar on Wednesday after US President Donald J. Trump said he would announce higher tariff rates on more countries as well as levies on other goods such as copper, semiconductors and pharmaceuticals.

The local unit closed at P56.57 per dollar, dropping by 22 centavos from its P56.35 finish on Tuesday, Bankers Association of the Philippines data showed.

The peso opened Wednesday’s session weaker at P56.55 against the dollar. Its worst showing was at P56.625, while its intraday best was at P56.48 versus the greenback.

Dollars exchanged dropped to $1.39 billion on Wednesday from $1.67 billion on Tuesday.

“The dollar-peso closed higher on renewed tariff threats from the US. The market is also awaiting the release of FOMC (Federal Open Market Committee) minutes tonight,” a trader said by phone. “There was also some profit taking when it (the peso) breached P56.60.”

The local unit was also dragged by higher global crude oil prices overnight amid renewed geopolitical concerns, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

For Thursday, the trader expects the peso to move between P56.40 and P56.80 per dollar, while Mr. Ricafort sees it ranging from P56.45 to P56.70.

The dollar strengthened to a more than two-week high against the yen on Wednesday as US President Donald J. Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and other trade partners, Reuters reported.

The greenback advanced against major peers on Tuesday after Mr. Trump’s latest threats of tariffs that are now due to start on Aug. 1, although he later said he was open to extensions if countries made proposals. 

Mr. Trump said on social media that there would be announcements on Wednesday regarding “a minimum of 7 countries having to do with trade,” without specifying any details.

He also threatened a 50% tariff on imported copper and said he would soon introduce long-threatened levies on semiconductors and pharmaceuticals.

Despite recent gains, the dollar index, which measures the greenback against six major peers, is still down more than 6% since Mr. Trump on April 2 unveiled his sweeping “Liberation Day” reciprocal tariffs, which prompted a sell-off in markets but were later mostly postponed to give time to negotiate bilateral trade deals.

The dollar firmed 0.1% to 146.75 yen after touching 147.19 and has gained 1.5% so far this week — the greenback’s biggest weekly rise since mid-December.

Export-dependent Japan stands out among major US trading partners as being the farthest from a deal, and its currency has taken a beating as time runs out. Multiple rounds of talks have failed to result in a breakthrough, and Japanese policymakers are increasingly focused on a critical upcoming election.

The dollar index was flat at 97.60.

Oil prices edged back from Tuesday’s two-week highs. Brent crude futures were down 22 cents at $69.93 a barrel and US West Texas Intermediate crude fell 23 cents to $68.10 a barrel. — A.M.C. Sy with Reuters

Commissioners’ retirement won’t affect operations, ERC says

THE ENERGY Regulatory Commission (ERC) assured the public that the retirement of two its commissioners will not impact its operations.

“We can assure the public because the three remaining commissioners still constitute a quorum. So there’s no excuse for us to stop or delay operations of the commission,” ERC Chairperson and Chief Executive Officer Monalisa C. Dimalanta told reporters on Monday.

“Aside from that, it’s our duty. It’s our duty to still make sure that the commission functions with just three commissioners,” she said.

The five-member ERC board comprises of commissioners Alexis Lumbatan, Catherine Maceda, Floresinda Baldo-Digal and Marko Romeo Fuentes, all of whom are appointed under the Duterte administration. Meanwhile, Ms. Dimalanta took the helm as the ERC chief in 2022.

The ERC is an independent, quasi-judicial body that enforces the Electric Power Industry Reform Act and its implementing rules and regulations.

Ms. Maceda said that the responsibility as a commissioner provides “a true test to one’s character” as a public servant.

“This is a sector that is in view with public interest. It’s also in view with private sector interest,” Ms. Maceda said.

With various cases being filed with the ERC, she said that there is a need to stake “a well-balanced approach and mindset to the point that you don’t comprise on interest over the other.”

Meanwhile, Mr. Lumbatan said that the electric power industry is now “at a very crucial stage,” signaling importance for the next commissioners and the industry to be characterized by integrity and honesty.

“Because the challenge of a member of the commission is to balance between the interest of the investing entities and protecting the interest of the consumers,” he said.

Mr. Lumbatan said that it would be better for the upcoming commissioners to “hit the ground running” as there would be more major decisions in the coming weeks and months. — Sheldeen Joy Talavera