Facebook Instagram Linkedin X Youtube
Home Blog Page 9731

Hot money turns around in February despite volatility

MORE foreign capital entered than left the country in February to yield a net inflow of $40 million in February, despite the brewing volatility over the spread of the coronavirus disease (COVID-19).

However, analysts warned that the coming months could be brutal, as the on-going Luzon lockdown and the stock market selloff are hurting investor sentiment.

Foreign portfolio investments — dubbed as “hot money” due to the ease by which these funds go in and out of an economy — resulted to a net inflow of $40.06 million in February, according to data released by the Bangko Sentral ng Pilipinas (BSP) on Friday.

This inflow is a reversal of the net outflow of $486.1 million logged in January, and is smaller compared to the $339.57 net inflow seen in February 2019.

BSP data showed $1.374 billion in registered investments in February, lower than the $1.41 billion in February 2019 but 11% higher than the $1.235 billion recorded in the preceding month.

The BSP said that majority or 68.7% of the foreign investments logged in the month were funnelled into Philippine Stock Exchange-listed securities, mainly for businesses such as holding firms, property companies, banks, transportation services firms, and food, beverage, and tobacco companies.

On the other hand, nearly a third (31.3%) went to peso government securities.

A big chunk or 72.8% of the foreign investments came from the United Kingdom, Singapore, the United States, Luxembourg, and Japan.

BSP data also showed gross outflows stood at $1.334 billion in February, which was higher than the $1.07 billion seen a year ago but smaller compared to the $1.721 billion logged in January.

The central bank said there was “on-going concern on the potential global impact of the COVID-19 outbreak, and the release of 2019 corporate earnings report of several firms” in February.

BSP projects foreign portfolio investments to hit a net inflow of $8.2 billion in 2020, according to its outlook last November.

Sought for comment, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said that the net inflow of hot money somehow “defied increased volatility” in the market as coronavirus concerns began emerging in February.

“This is manifested by the relative resilience of the peso exchange rate recently, among the strongest in two years, partly due to interest rate differentials in favor of the peso and sharp decline in global crude oil prices…” Mr. Ricafort said in an email.

Economists expect volatility in the global financial markets to drag on for several months, which would affect foreign portfolio investments.

For his part, ING-Bank NV Manila Senior Economist Nicholas Antonio T. Mapa said that the enhanced community quarantine in Luzon paired with the selloff in the local stock market will take its toll on investor sentiment.

“March will likely see an even more severe outflow with most of the Philippines on enhanced community quarantine and economic activity grinding to a halt,” Mr. Mapa said in an emailed response.

“The stock market has plunged, bond markets are selling off and world leaders are scrambling to right the floundering global economy,” he added.

UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said foreign investors will gauge the government’s ability to contain the virus outbreak.

“It would be clear for potential investors if the current efforts are actually working (just like what has happened in other countries so far),” he said in an emailed response.

As of Thursday, there were 217 infected patients in the Philippines, with 17 deaths recorded. — Luz Wendy T. Noble

Biz groups call for ‘maximum’ fiscal response vs coronavirus

A man is checked for body temperature at a checkpoint placed amidst the lockdown of the country’s capital to contain the spread of coronavirus, in the outskirts of Quezon City, March 15. — REUTERS

MORE THAN 30 business groups urged Congress, in coordination with the Duterte administration, to approve the “maximum fiscal response” to shelter the Philippine economy from the impact of the coronavirus disease (COVID-19).

Business groups, led by the Philippine Chamber of Commerce and Industry, Employers Confederation of the Philippines, the Makati Business Club, and the Management Association of the Philippines, said the government should commit to a “more forceful action on the fiscal front in order to “mitigate the suffering of Filipinos and reduce damage to the society and economy.”

In a statement, the 32 business groups said the government “can and should” adopt a fiscal stimulus program that will hike the deficit-to-gross domestic product (GDP) ratio to nearly 5%.

“Assuming GDP growth slows to 4.5% (GDP: P20 trillion), a 5% deficit will be P1 trillion. Subtract the programmed deficit of 3.6% (P720 billion), and there is room for a P281 billion fiscal stimulus program,” the groups said.

“Assuming GDP growth slows to 3% (GDP: 19.7 trillion), a 5% deficit will be P987.5 billion. Subtract the programmed deficit of 3.6% (P711.3 billion), and there will be room for a P277 billion fiscal stimulus program.”

Economic planners said that coronavirus outbreak may slash this year’s growth by up to 1.2 percentage points if it lasts until yearend, although it has yet to officially announce changes to its 6.5-7.5% target. Last year, the economy grew by 5.9%.

The government has put a cap on its deficit-to-GDP ratio at 3.2% for this year.

The business groups said that the Luzon quarantine is impacting millions of workers, including informal workers who are barred from leaving their homes to work and regular workers who may lose jobs as companies experience difficulties.

“A health issue is now also a hunger issue and may trigger violence and longer term social tensions,” they said. “Many companies are doing what they can to keep their employees paid despite their inability to work and drastic declines in sales. But they can only do so much compared with the millions who are vulnerable to the downturn.”

While the business groups believe that the initial P27 billion response package announced this week is a “great start,” they called for a bigger fiscal stimulus.

The groups said there should be funds for conditional cash transfer recipients and for the labor department and company programs supporting workers affected by the quarantine. There should also be additional efforts to transfer funds or food to low-income families.

They are also asking the government to allot funds for temporary hospitals and quarantine areas to cope with a surge in patients and for micro, small, and medium-sized enterprises that focus on hiring.

The business groups believe there should be targeted subsidies for health, tourism, and transport, as well as increases in public investment spending and deferment of penalties related to interest payments.

The statement was also signed by industry groups like Philippine Exporters Confederation Inc., Information Technology and Business Process Association of the Philippines, the Philippine Retailers Association, the Philippine Franchise Association and banking groups like the Chamber of Thrift Banks Rural Bankers Association of the Philippines, and the Bankers Association of the Philippines.

Foreign chambers like the American Chamber of Commerce of the Philippines, and their European, Japanese, German, Canadian, and Australian-New Zealand counterparts also signed the statement.

Funding, the groups said, can also be sourced from savings or mandated savings of government-owned and controlled corporations and government agencies not directly in charge of the crisis like the health department and local government.

“This massive stimulus will save lives and protect our society but will not trigger alarm bells in the credit rating and global investment community as the Philippine debt/GDP measure is only likely to rise from 41.5% to 44.2%. It was almost 70% about 15 years ago.”

Meanwhile, the Financial Executives Institute of the Philippines, Inc. (FINEX) called for the government to implement an emergency calamity amelioration program to support the poor, jobless and homeless during the ECQ.

In a statement, FINEX called on Congress to authorize President Rodrigo R. Duterte to realign unspent or unobligated appropriations in this year’s General Appropriations Act for the emergency calamity amelioration.

“The national budget was designed and approved for normal times. But we are now in abnormal times, unprecedented since the war years. This global virus pandemic was not foreseen nor factored into the budget. We are now in a war for the survival of our nation and its economy, and fiscal policy and programs must be realigned as we propose during the exigency of this national emergency,” FINEX said.

SPECIAL SESSION
In response to President Rodrigo R. Duterte’s call for Congress to hold a special session to pass a supplemental budget, House Speaker Alan Peter S. Cayetano said they are ready to convene at the earlier possible time while following social distancing protocols.

“The House of the People stands ready to respond to the call of the President for a special session to pass measures, including a supplemental budget that would give the executive department more flexibility in containing the spread of COVID-19, and help ease the burden brought about by the pandemic among our nation’s most vulnerable sectors. As well as to discuss all other issues regarding health, the economy, and the concerns for a speedy recovery from the effects of this crisis,” he said in a Facebook post.

The House committee on appropriations earlier passed P1.65 billion in supplemental funding to support the government’s response to COVID-19.

On Thursday, Senate President Vicente C. Sotto III said that the Senate would tackle during the special session a “food subsidy budget” for daily wage earners who have lost their jobs during the enhanced community quarantine in Luzon.

Congress began its two-month break last March 13. Hearings in both chambers have also been suspended. Congress will resume regular sessions on May 4. — Jenina P. Ibañez and Genshen L. Espedido

Current account deficit shrinks in 2019

THE country’s current account deficit shrank to $464 million in 2019, due to “lower trade in goods deficit combined with higher net receipts in the trade in services, and in the primary and secondary income accounts, the Bangko Sentral ng Pilipinas said on Friday.

Data from the BSP showed a current account gap of $464 million last year, significantly lower than the $8.773 billion deficit seen in 2018.

The current account portrays a picture of the country’s overall economic interaction with the rest of the world covering trade in goods and services; remittances from overseas Filipino workers; profit from Philippine investments abroad; interest payments to foreign creditors; as well as gifts, grants and donations to and from abroad.

At its 2019 level, the current account made up 0.1% of the country’s gross domestic product (GDP), compared to the 2.4% of GDP in 2018.

The central bank said that imports of goods fell mainly due to the “slowdown in importation of raw materials such as construction materials related to the Build Build Build project of the government during the first half of the year, as well as the decline in volume and price of imported crude oil in the world market.”

At the same time, exports of goods went up as shipments of electronic products, and fruits and vegetables increased.

“It is well known that the 2019 budget was delayed, and consequently, the planned infrastructure spending played catch-up until the end of the fiscal year. This delay largely affected import performance causing the decline in the current account deficit,” UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said via email.

In the fourth quarter of 2019, the current account was at a surplus of $748 million, reversing the $2.701 billion deficit in 2018.

“This development stemmed primarily from the reduced deficit in the trade in goods account along with increased net receipts of primary and secondary income, and trade in services during the quarter,” the BSP said.

In 2019, the balance of payment (BoP) position of the country was at a surplus of $7.843 billion, reversing the $2.306 billion deficit seen in 2018.

For 2020, the central bank expects the country’s BoP position to hit a surplus of $3 billion.

This year, analysts warned that the pandemic will greatly impact the BoP. The coronavirus outbreak prompted the government to implement a Luzon-wide enhanced community quarantine, causing disruption to many businesses.

“2020 BoP and the COVID-19 pandemic paints a picture of uncertainty that trying to forecast may be counterproductive,” Mr. Asuncion said.

“However, I still see a slight economic recovery of the Philippine economy towards the second half of 2020 that may push the BoP position to a deficit,” he added.

For his part, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said that there could be some relief from uncertainties due to the impact of the outbreak on the economy and financial markets.

“This could still be offset by any continued growth in OFW (overseas Filipino workers) remittances, BPO (business process outsourcing) revenues, and foreign investments, especially if the coronavirus is contained in the coming months,” he said. — Luz Wendy T. Noble

Philippines’ 2020 growth may slow to 5%-5.5% — Diokno

PHILIPPINE central bank Governor Benjamin Diokno said the nation’s economic growth this year could slow to a range of 5% to 5.5% as the world faces the risk of a recession.

“The current BSP monetary stance is consistent” with that forecast, Diokno said in a mobile-phone message, referring to Bangko Sentral ng Pilipinas. “In order to achieve a higher growth rate, a massive, well-crafted fiscal stimulus is imperative.” The growth range is the central bank’s estimate and not the government’s, he said.

Diokno on Thursday delivered on a pledge to cut the key rate by half-a-point as central banks worldwide ease monetary policy and unleash stimulus. The BSP said it is ready to further reduce banks’ reserve requirement ratio and undertake other measures to boost financial market liquidity. It’s also ready to step in, if needed, to meet any demand for dollars.

The central bank governor is scaling down his expectations from an earlier 6% forecast. The Philippine economy grew 5.9% in 2019 from a year earlier.

President Rodrigo Duterte has ordered a month-long lockdown of the main Luzon island, which has 60 million people and is responsible for about 70% of the country’s economic output.

“In a world facing a possible recession, a region that might slow down to around 3% growth, 5% to 5.5% growth rate is enviable,” he said. Dow Jones was first to report on the governor’s downgraded growth forecast. — Bloomberg

BIR extends other tax deadlines

THE BUREAU of Internal Revenue (BIR) has also extended deadlines of other tax returns for 30 days due to the Luzon-wide lockdown.

BIR Commissioner Caesar R. Dulay issued Revenue Memorandum Circular (RMC) No. 29-2020 amending the RMC-26 issued earlier which followed the original deadlines but allowed taxpayers to file “tentative returns” and submit final returns instead after 30 days.

According to the new circular signed March 19, moved to April 20 were the deadlines for the filing and payment of monthly value-added tax declaration as well as the monthly remittance of percentage tax on winnings and prizes withheld by race track operators for the month of February.

Electronic filing deadlines of BIR Forms 1601C, 0619E and 0619F were also moved to April 21 for filers under Group E, April 22 for those under Group D, April 23 for Group C, April 24 for Group B and April 27 for Group A.

The Deadline for the electronic filing and payment of quarterly VAT declaration was also extended until April 27, while the digital payment of Form 2550M for Groups E, D, C and B can be settled on April 30.

Other returns that can be filed, submitted or paid until April 30 are quarterly income tax return for corporation, partnerships and other non-individual taxpayers; annual information return of income taxes withheld on compensation and final withholding taxes; certification of compensation payment under form 2316; and the annual information of return of creditable income taxes withheld.

Documentary stamp tax filing and payment for Form 2000 and Form 2000 one-time transactions for the month of March can be done until May 5.

Meanwhile, returns for the month of March can be filed until May 11, such as Form 1600 with the monthly alpha-list of payees and Form 1606; withholding tax remittance return for national state agencies; excise tax return for mineral products and the 1601C form for non-eFPS filers.

For filing and payment or remittance of Form 1601C, eFPS filers under Group E will have a deadline of May 11, those under Group D on May 12, Group C on May 13, and Group B on May 14.

The bureau earlier extended the deadline for annual income tax return filing and payment to May 15 from April 15 to give relief to taxpayers amid the lockdown imposed on Luzon, even as this would result in delayed collections of around P145 billion.

It also moved the deadline for filing applications for value-added tax refunds for those falling due on March 31 to April 30.

The government targets to collect P3.49 trillion this year to fund its P4.1-trillion spending plan, with the remaining funds to be sourced from its borrowing activities. The BIR is tasked to collect P2.576 trillion.

President Rodrigo R. Duterte placed the Luzon enhanced community quarantine until April 13 to slow the spread of coronavirus disease 2019 that infected 230 and killed 18 people in the country as of Friday. — B.M. Laforga

DTI says price freeze covers virtual vendors, individual sellers

THE DEPARTMENT of Trade and Industry (DTI) said virtual vendors and individual sellers are included in the 60-day price freeze imposed by the government.

DTI and the Agriculture and Health departments on Wednesday signed a joint memorandum circular (JMC) reinforcing the price freeze on goods after the country was placed under a state of calamity.

“The JMC further enhances our existing measures for ensuring sellers’ compliance with the price freeze of basic goods. The Circular does not distinguish between an individual seller and a business entity, or if they are operating in either physical or virtual stores,” DTI Secretary Ramon M. Lopez said in a statement on Friday.

“We made it very clear that as long as you are selling any basic good to the public, you must strictly abide by the price freeze.”

The prices of basic necessities are frozen from March 16 to May 15, after President Rodrigo R. Duterte declared a six-month state of calamity on March 16 in response to the new coronavirus disease 2019 (COVID-19).

The Price Act, or Republic Act No. 7581, allows for the prices of basic necessities to be frozen at prevailing prices for 60 days or until lifted by the president when there is a declaration of a state of emergency or calamity.

According to the JMC, persons and entities that violate the price freeze may face fines between P5,000 to P2 million, and imprisonment of five to 15 years.

The goods covered include rice, corn, cooking oil, fresh, dried and other marine products, fresh eggs, fresh pork, beef and poultry meat, fresh milk, fresh vegetables, root crops, sugar, and fresh fruits.

Essential drugs, medical devices, firewood, charcoal, household LPG, and kerosene are also covered.

Mr. Lopez said the implementing agencies intensified their monitoring and enforcement powers by creating composite teams to prevent overpricing, profiteering, hoarding, and cartels.

The implementing agencies may recommend to the president the imposition of a price ceiling on any basic necessity should the effects of COVID-19 persist beyond the 60-day period, the JMC said.

An initial price freeze was put into place after a declaration of public health emergency on March 8.

DTI is also attempting to limit the number of people outside as they offer guidelines on manufacturing operations and supply transportation amid the enhanced community quarantine in Luzon.

Mr. Lopez asked food and medical supply manufacturers that have one to two months of finished goods to stop operations and help keep workers in home quarantine.

In a mobile message to reporters on Friday, Mr. Lopez said all cargo may continue to pass through Metro Manila checkpoints, clarifying an earlier statement encouraging those transporting non-food and non-essential products to stay home.

San Miguel Corp. (SMC), in a social media post on Friday, said that it has enough food products.

SMC said its facilities and employees can produce 1.96 million kilograms (kg) of fresh meat, 524,000 kg of processed meat, and 2.11 million kg of flour and baked goods per day. — Jenina P. Ibañez

DBM extends deadline for agencies’ 2021 spending plans

THE DEPARTMENT of Budget and Management (DBM) has extended the deadline for state agencies preparing their 2021 budget plans (BP) to May 25 amid the 30-day Luzon-wide lockdown.

Budget Secretary Wendel E. Avisado issued National Budget Memorandum No. 134 extending the deadline from the previous May 11 schedule to give agencies more time to prepare their plans, especially those implementing work-from-home arrangements and operating on skeleton workforce during the quarantine period.

The order also assured offices the budget proposal system (OSBPS) is operational during the period.

“Since it is a web-based system, agencies shall continue to have access to the System (osbp.dbm.gov.ph) for the encoding of the required BP Forms,” the document read.

The deadline submission of budget proposal forms for 2019 actual obligations has been moved as well to April 15 from March 31, previously.

Separately, the DBM and Commission on Audit released Joint Circular (JC) No. 1, s. 2020 saying government employees under contract of service (COS) and job order (JO) scheme should continue to receive their salaries as they are exempted from the “no work, no pay” scheme during the lockdown.

This includes employees working from home and whose work were suspended due to the lockdown.

Senator Emmanuel Joel J. Villanueva said in a statement yesterday the move will benefit more than 660,000 COS and JO government workers and help them continue providing for their families.

The circular also said “appropriate additional benefits” could be given to COS and JO workers part of the skeleton workforce of agencies reporting physically to work, upon the approval of the Office of the President.

Of the 2.4 million working in the government, data from the Civil Service Commission showed 660,000 are under COS and JO, with around 360,000 contractual workers in Luzon.

President Rodrigo R. Duterte placed Luzon under enhanced community quarantine until April 13 to slow the spread of the coronavirus disease 2019 that infected 230 and killed 18 people in the country as of Friday. — B.M. Laforga

PEZA firms can choose to shut down due to COVID-19 disruptions

THE PHILIPPINE Economic Zone Authority (PEZA) said its registered companies can choose to stop operations amid the enhanced community quarantine in Luzon.

PEZA said in a statement on Friday companies have the prerogative to shut down due to the lack of raw materials and importation from foreign suppliers.

They may also do so if there is a shortage of workers as employees cannot travel after the suspension of public transport and if worker housing accommodations close to the zones are too costly.

Companies may also close as they decide to transfer their full investment to other countries or to move their production quota, machine rise and equipment to foreign branches.

The Cavite Economic Zone (CEZ) stopped operations on Thursday as the number of persons under investigation and monitoring for coronavirus disease 2019 (COVID-19) increased in the area.

CEZ has 439 companies employing a total of 68,058 employees.

“PEZA values the health and safety of its locators and workers as well as its surrounding communities and supports the government’s effort in trying to stop the spread of this virus. Thus, companies may opt to keep a skeletal workforce for basic admin, maintenance and security,” PEZA Director General Charito B. Plaza said.

“Employees who will come in will need approval from their Zone Administrator and will be required to wear a face mask and undergo thermal scanning.”

PEZA said that economic zones aiming to shut down must first consult with locators, company associations, and PEZA.

Ms. Plaza said workers in its economic zones still in operation pass through checkpoints using PEZA stickers on cargo vehicles and shuttle buses.

“Social distancing and thermal scanning are being implemented on all vehicles. Facial masks are also required for their employees when going to work. Big companies have also adapted the work-from-home scheme and provided housing for their skeletal workforce who will need to come in.” — Jenina M. Ibañez

LGUs ordered to abide by national government guidelines for COVID-19

PRESIDENT Rodrigo R. Duterte will file cases against local government officials who don’t strictly abide with the national government’s guidelines to prevent the spread of the Coronavirus Disease 2019 (COVID-19).

Mr. Duterte said this in an address made in the early hours of Friday morning, calling on all Local Government Units (LGUs) to follow the guidelines set by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID). If they still continue to set standards that are out of the national government’s set policies in addressing COVID-19, he will ask the Department of Justice (DoJ) and Department of Interior and Local Government (DILG) to go after them.

“if you go beyond the standards that we have set, you are abusing your authority, and you know that it can lead to administrative cases or even worse, unless you stop what you are doing… I am therefore directing the DILG and DOJ to closely monitor the compliance of LGUs with the directives of the office and to file the necessary cases against wayward officials,” he said.

The Palace earlier this week placed the entire island of Luzon under an “enhanced community quarantine”until April 12 after the number of locally transmitted cases of COVID-19 increased in the country.

However, Mr. Duterte also said in a speech earlier this week that LGUs can come up with their own ordinances and policies to help their areas and constituents cope with the Luzon lockdown.

“(The mayor) can come up with any measure to protect public health, public interest, public order, public safety, whatever is needed to make life more livable in your place,” Mr. Duterte said on March 16.

Interior and Local Government Secretary Eduardo M. Año said in a briefing on Friday that some local governments in Visayas and Mindanao had committed actions that are not under their mandate such as restricting cargo.

“May mga ibang LGUs na nag-iba ng interpretation (There are LGUs who interpreted things differently); like for example, the checkpoint and passing of cargoes. Kasama diyan dapat lahat ng cargoes (all cargoes should be part of that), especially food and medicine should be unhampered but because some LGUs in Visayas and Mindanao, nag-lockdown sila ng kanilang border, ayaw na nilang paraanin itong mga cargoes na ito na kailangang-kailangang makarating sa iba’t ibang lugar, kasama na rin ang island of Luzon (they locked down in their borders, they wouldn’t allow the passage of these cargoes which urgently need to go to different places which also includes Luzon),” he said.

He added that some LGUs had also banned domestic flights. He said “Wala sa authority ng LGU ang mag-cancel ng mga (it’s not part of their authority to cancel) airport flights particularly domestic flights because that belongs to another government department. So there must be a coordination, there must be a dialogue, and there must be an agreement. So you’ll find a lot of people get stranded because some LGU officials suddenly declared that domestic flights in their respective areas are already cancelled or will not be allowed. OFWs, balikbayans and foreign nationals, we are allowing them to leave our country anytime. But because some balikbayans and some foreign nationals cannot pass through a particular jurisdiction, they cannot get through to the international airport. “

Another issue is that some LGUs are allowing some public transportation to run, which violates the “enhanced community quarantine” protocol. The task force urges LGUs to provide transportation especially if their aim is to transport frontliners.

FAKE NEWS
On the other hand, the National Bureau of Investigation (NBI) on Friday said it will look closely into sources of fake news on the internet which add to the public’s distress at a time when they are already concerned with the quarantine and the virus. It has instructed the Cyber Crime Division (CCD), the Digital Forensic Division, and other Investigative units including the Regional Operations Service to trace where false news that is circulating comes from.

The probe against fake news on COVID-19 comes after they found a false statement attributed to the US State Department which warned about the possibility of looting during the lockdown.

“The International Operations Division is now gathering relevant data and other information for possible case build up and filing of cases against the perpetrators of fake news,” NBI said in a statement Friday.

MASS TESTING
Meanwhile, mass testing for the COVID-19 virus is not seen as necessary at the moment. The Philippines is still scrambling for supplies of diagnostic kits.

“Hindi pa naman nakikitang kailangan nating gawin itong mass testing na ito pero nasa talaan… .na kung sakaling dumating yung panahon (We still don’t see the need to do this mass testing but it’s on the list…that if the time comes), and if we have enough resources and the government can do it, and it is already imperative for the government to do it, gagawin po natin ‘yan kung saka-sakali (we will do it eventually),” Health Undersecretary Maria Rosario S. Vergeire said in the same briefing Friday.

The Department of Health (DoH) assured the public that more testing kits are already being procured by the government while donations from other countries and organizations are on their way to the country. — Gillian M. Cortez

13 more infected with COVID-19, bringing total to 230

THE Department of Health (DoH) reported that 13 more people have tested positive for coronavirus disease 2019 (COVID-19) on Friday, bringing the total to 230.

In a press briefing on Friday, DoH Assistant Secretary Maria Rosario S. Vergeire reported one new death due to COVID-19, bringing the country’s total number of fatalities to 18.

Meanwhile, no new recoveries were reported. The number of patients who have gotten well still stands at eight.

Ms. Vergeire said five sub-national laboratories are now able to process COVID-19 tests. These are San Lazaro Hospital, the Research Institute of Tropical Medicine, Baguio General Hospital Medical Center, Vicente Sotto Memorial Medical Center, and the Southern Philippines Medical Center.

This development enables the DoH to process 50 to 300 tests per day, Ms. Vergeire added.

She also noted that the DoH is currently setting up other laboratories for COVID-19 testing, at the Western Visayas Medical Center and the Bicol Public Health Laboratory.

“Ang UP (University of the Philippines)-National Institutes of Health ay namobilize na para tumulong sila sa atin sa laboratory capacity. Nagsasagawa din po ngayon ng assessment ang DoH and WHO (World Health Organization) para sa additional extension laboratories sa Maynila at pagkatapos naman ay sa Visayas at Mindanao,” Ms. Vergeire added. (UP-National Institutes of Health have mobilized to assist us when it comes to laboratory capacity. The DoH and WHO are also making an assessment for additional extension laboratories in Manila, and later in Visayas and Mindanao.)

Meanwhile, in a press statement released on Friday, Chief Justice Diosdado M. Peralta revealed that he tested negative for COVID-19 after traveling to the Netherlands earlier this month and later on showing symptoms of the disease.

The Chief Justice said that he is continuing his work from home and that he is closely monitoring the situation of the courts throughout the country.

QUEZON CITY CASES
In a radio interview on Friday, Quezon City Mayor Maria Josefina Tanya G. Belmonte reported six new cases in the city, bringing the total to 38. Of these 38, three have died while five were able to recover.

Among the six new cases, three are doctors, Ms. Belmonente said.

One doctor, who resides in Barangay Damayang Lagi, infected two of his family members.

The fourth and the fifth case are doctors who live in Barangay Bahay Toro and Barangay Phil-Am, respectively. The fifth case already passed away.

Meanwhile, the sixth case lives in Barangay Fairview. Ms. Belmonte said that the city’s epidemiology team is already validating the profile of this patient.

Two barangays in Quezon City are currently under “extreme enhanced community quarantine,” namely Barangay Kalusugan and Barangay Tandang Sora.

A barangay is considered to be under “extreme enhanced community quarantine” if it has more than one confirmed COVID-19 case.

The number of confirmed cases has reached more than 246,000 worldwide, with 10,050 deaths as of March 20, the WHO reported.

“It took over three months to reach the first 100,000 confirmed cases, and only 12 days to reach the next 100,000,” the WHO said in its daily situation report.

Meanwhile, 88,486 patients were able to recover globally. — Genshen L. Espedido

Customs OKs 189 shipments of COVID-19 medical supplies

THE Bureau of Customs (BOC) has processed 189 shipments of medical supplies and other emergency items needed for responses against coronavirus disease 2019 (COVID-19) as of Thursday.

In a statement released on Friday, the Department of Finance (DoF) said the shipments include “surgical masks, dust masks, pharmaceuticals, reagent kits, goggles, gloves, disposable particulate respirators, digital thermometers, infrared thermometers and fire protection cloth,” which entered the country via the Port of Clark, the Manila International Container Port (MICP), and the Ninoy Aquino International Airport (NAIA)

“More supplies for frontline workers are expected to arrive in the Philippines over the next few weeks,” the DoF said.

Citing a report from the BoC, the DoF said the bureau will establish a “one-stop shop” for donations and other relief goods coming into the country via its ports to accelerate the processing.

“As part of the bureau’s action plan, all of the ports were directed to ensure the continuous and unhampered delivery of goods and services, especially shipments that are needed to address this emergency such as face masks, personal protective equipment, and other medical supplies,” Customs Commissioner Rey Leonardo B. Guerrero was quoted as saying.

Mr. Guerrero said ports in Luzon, which has been under “enhanced community quarantine” since Monday, are operating with a skeletal workforce as ordered but assured that shipments of medical and emergency supplies will still be processed and released at an accelerated pace.

“Rest assured that the Bureau of Customs is doing all that is necessary in order to bring these needed medical and emergency supplies to our people and that the entire bureau will continue to provide service to the nation throughout this challenging time,” he added.

Based on reports from Mr. Guerrero, Finance Secretary Carlos G. Dominguez III said a team was on standby at the subport of Mariveles in Bataan yesterday afternoon for the shipment of a donation of one million surgical masks to the Department of Health.

Mr. Dominguez said the officials issued an absolute “do not delay and maximum accommodation” order for the shipment and had requested for its escort so these can be delivered to their locations as soon as possible.

President Rodrigo R. Duterte placed the entire island of Luzon under “enhanced community quarantine” until April 12 as a measure to slow the spread of the coronavirus disease that has sickened 217 and killed 17 people in the country, as of Thursday. — Beatrice M. Laforga

DoH designates PGH and Caloocan hospital as exclusively for COVID-19 patients

THE Department of Health (DoH) has ordered the designation of the University of the Philippines-Philippine General Hospital (UP-PGH) in Manila and the Jose N. Rodriguez Memorial Hospital in Caloocan as exclusive coronavirus disease 2019 (COVID-19) hospitals, following the appeal of private hospitals for a unified approach to the pandemic.

“The Department of Health and University of the Philippines-Philippine General Hospital have initiated talks to designate UP-PGH as one of the COVID-19 referral hospitals for NCR. Preparations are being made to equip the Jose N. Rodriguez Memorial Hospital and Sanitarium, previously Tala Leprosarium to become another referral hospital,” it said in a statement on Friday.

To free up wards and rooms, UP-PGH has ceased the admission of non-emergency cases, the DoH added.

The DoH said it will require the full support of the National Capital Region (NCR) medical community “since additional health care workers will be needed to complement PGH’s existing workforce.”

“The DoH is one with the entire nation in recognizing the many sacrifices health workers have already made and will continue to make, including those in PGH. We are working hard to ensure that health workers will be protected while caring for their patients,” it added.

In a radio interview on Friday, Health Secretary Francisco T. Duque III said that the government was considering converting the Lung Center of the Philippines (LCP) into a COVID-19 exclusive hospital, but added that it is not feasible just yet because the hospital also caters to lung cancer patients.

As a compromise, the DoH said that the LCP has dedicated one wing with 40 beds for COVID-19 patients.

On March 19, private hospitals issued a joint appeal for a unified approach on the pandemic, calling on the government to “centralize all efforts and resources into one or two COVID-19 hospitals.”

They argued that there is “an alarming number” of health workers already under 14-day quarantine, while the number of persons under investigation (PUIs) continues to increase.

“With the COVID-19 hospital(s) in place, the other institutions can then focus on the bigger population who need to be treated for the rest of the other conditions other than the COVID-19 infection. They are the ones we need to equally protect and secure from the virus, so that they and their families can also be assured of appropriate treatment detached from any threat of COVID-19 infection aggravating their condition,” part of the joint statement read.

Meanwhile, the Health Secretary said that barangays have the option to turn classrooms into isolation rooms to make sure that COVID-19 positive cases are isolated from the rest of the population.

“So ‘yung mga isolation rooms ‘yan po tutugunan ng ating barangay health emergency response teams para nakatutok na, tukoy na kung saan ilalagay ang mga isolation rooms. At isa nga rito ang mga eskwelehan, ang mga kwarto ng eskwelahan na icoconvert nila ‘yan into isolation rooms with two meters apart between beds para hindi naman ho maging uncomfortable ‘yung kanilang kalagayan,” Mr. Duque said. (So these isolation rooms, these will be acted upon by our emergency response teams so they can already know where these could possibly be. Like school rooms, they can convert the school rooms into isolation rooms with two meters apart between beds so it is not uncomfortable.)

He said that allowing barangays to convert classrooms into isolation rooms is one option to quarantine mild and moderate cases. Currently, the hospitals’ protocol is to prioritize severe to critical cases due to the lack of confinement rooms and testing kits.

TEST KITS APPROVED
In the Malacañang briefing on Friday, DoH Assistant Secretary Maria Rosario S. Vergeire said that the Food and Drug Administration (FDA) already approved four kinds of test kits which are available for commercial use.

However, Ms. Vergeire cautioned the public that although the test kits were approved for commercial use, they may only be used in hospitals and laboratories.

“We need a molecular biology laboratory para gamitin po ang mga (to use these) testing kits na ito. Hindi po ito basta nabibili sa mga supermart o sa drugstore at gagamitin sa bahay. Kailangan pa rin ho sa ospital gamitin ito. Ang kagandahan po nito, ay mas marami na pong mga ospital ang maaring makagawa ng testing dito sa ating bansa,” she said. (These cannot simply be bought in a supermarket or drugstore and used in the home. They still have to be used in a hospital. The good thing about this is that there will be more hospitals in the country which will be able to test [for COVID-19].)

Ms. Vergeire added that a total of 1,170 patients nationwide have been tested for COVID-19.

In the radio interview, Mr. Duque said that the DoH is awaiting the arrival of 25,000 test kits from South Korea and 100,000 testing kits from China on March 21.

“Tinutukan ko na ’yung Bureau of Customs (BoC) at FDA ay mabilisan ang release kasi ‘yan nga ang number one natin na kakulangan, inadequate testing capacity,” he added. (The Bureau of Customs and FDA are already on it, and the release will be fast because that is our number one lack, we have inadequate testing capacity.)

Meanwhile, on March 19, the Jack Ma Foundation and the Alibaba Foundation pledged donations of medical supplies to four Southeast Asian countries: the Philippines, Malaysia, Thailand, and Indonesia.

“We and Alibaba Foundation will send 2 million masks, 150,000 test kits, 20,000 protective suits and 20,000 face shields to Indonesia, Malaysia, the Philippines and Thailand. More help to other Asian nations is on the way!”read part of the statement which was sent on Friday.

As of March 20, the Philippines has reported a total of 230 positive COVID-19 cases of which 18 have already died. Eight patients, however, were able to recover. — Genshen L. Espedido

1...9,7309,7319,732...14,238Page 9,731 of 14,238
ADVERTISEMENT
ADVERTISEMENT
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin X Youtube