Maniolas

MANILA, Philippines – The Philippines has reiterated its commitment to return to Bangladesh money illegally channeled to the local financial system last February. While underscoring the “100-percent support” of the entire government, Finance Secretary Carlos Dominguez told Bangladesh Ambassador John Gomes legal processes should be followed in the return of the $81 million stolen from Bangladesh last February. The two met in Makati City recently, together with representatives from the central bank, the Anti-Money Laundering Council (AMLC) and the departments of Foreign Affairs and Justice. “We want to assure you that the Philippine government, including all its instrumentalities,… are 100 percent behind you, that we want to assure you that we will do everything that we can to assist you,” Dominguez was quoted as saying in a statement. “We have, however, a legal system that has to be respected and this system has to be followed so that whatever claim you are awarded, nobody can challenge that in the future,” he added. For now, the government is focused on securing the $15 million surrendered in two batches by casino operator Kim Wong, who was part of a web of personalities where the money passed through. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Wong gave up the money to the Bangko Sentral ng Pilipinas (BSP), which is keeping it while awaiting a court ruling that will award the money to the government. A petition has already been filed by the DOJ before the Manila Regional Trial Court, while the Read More …

MANILA, Philippines – The Department of Agriculture insists a plan to remove quantitative restriction (QR) on rice imports will be disastrous to local farmers. “The Filipino rice farmers are not ready yet for the lifting of the QR mainly because of negligence on the part of the government in the past,” Agriculture Secretary Emmanuel Piñol said. He said Filipino rice farmers could not yet compete with neighboring rice-producing nations should the government finally decide to lift import restrictions on rice. In the Philippines, the cost of producing palay (unmilled rice) is around P10-12 per kilo as against the P6 to P10 per kilo in Vietnam and Thailand. “We need at least two years to improve the average rice production per hectare to at least five to six tons and lower the cost of production per kilo to a maximum of P8,” Piñol said. “Until such time these are achieved, lifting the QR would be disastrous to the Filipino rice farmers,” he added. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 On the contrary, National Economic and Development Authority (NEDA)-Agriculture, Environment and Natural Resources director Mercedita Sombilla said farmers have remained disadvantaged even with the current implementation of the QR. “Even with the QR, farmers were never that much advantaged, especially the small rice farmers who are net consumers of rice for most part of the year and hence have to face the same higher rice prices,” Sombilla said in an email to The STAR. “If you look at and Read More …

We give way to more readers who have sent in their thoughts about the past topics that this column has tackled. Here’s one from Engr. Alex G. Serrano of Legazpi City, who welcomingly tackles – what else – the seemingly untameable traffic issue of Metro Manila. Here’s his contribution. “I write to you occasionally to share my ideas on important current issues, a couple of which you have already included in your column, for which I am very thankful. “This time I would like to share with you my idea of a network of elevated walkways (inspired by ideas from Arch. Palafox) that would somehow relieve the traffic along EDSA, and at the same time greatly improve pedestrian mobility in our major CBDs. “My idea is (to construct) in two phases. Phase I is a network of walkways connecting CBDs to EDSA, and Phase II is a linear network of walkways along EDSA from Makati to Cubao. Phase I “1. Elevated covered walkway from MRT3 Ayala Station to McKinley Road connected to a network with access to Bonifacio High St., Burgos Circle, Market Market, SM Aura and strategic commercial buildings. “2. Elevated covered walkway from MRT3 Ayala Station passing alongside SM and Landmark to Makati Ave., along Makati Ave. to Ayala Ave., along Ayala Ave. to Buendia Ave., along Buendia Ave. to Pasong Tamo, along Pasong Tamo to Makati Square, from Makati Square to Glorietta. This network should have links with the existing network within Makati CBD. “3. Elevated covered Read More …

A LOCAL auto parts maker group wants the government to lay down clearly the policy that would allow it to benefit from the so-called Comprehensive Automotive Resurgence Strategy (CARS) Program.