A nation’s ‘absorptive capacity’ and its current relevance

 Economy
Feb 262013
 
A nation’s ‘absorptive capacity’ and its current relevance

Is the nation’s “absorptive capacity” enabling the country to achieve its full potential for growth? Are investment decisions making the economy more efficient? These two questions have an identical answer: No. There is a great deal of room for improvement. At a time when economic gains are rising to optimistic levels, there should be less excuse for discussing those problems that slow down the achievement of growth objectives. The question of absorptive capacity stares us in the face. The delays in decisions concerning investment projects in the public sector reduce absorptive capacity. Indecision might be attributable to lack of courage on the part of the principals of government agencies to take responsibility for their actions. We should focus on this problem. “Absorptive capacity in the public and private sectors.” Absorptive capacity is the ability to implement projects and investments so that they achieve their intended objectives. If issues arise at any stage in the process, having absorptive capacity implies finding the appropriate ways or adjustments to solve or wiggle out of the problems. Taken in its wider meaning – absorptive capacity – is possessing the appropriate technical and managerial skills to oversee the completion of economic decisions toward satisfactory results . (There are many economic jargons of greater precision to explain this, but I will avoid that route.) In this country and in relative terms, the problem of inadequate or low absorptive capacity resides more in the public, than in the private, sphere. The former is much more inflexible when Read More …

Group taps new kind of 'people power' to end political dynasties

 News
Feb 262013
 
Group taps new kind of 'people power' to end political dynasties

Convinced that Filipino legislators have “neglected” the 1987 Constitution’s mandate to pass a law defining political dynasties, a multisectoral group has launched a campaign to tap a new kind of “people power” to end the rule of a few families in the Philippines. The group Movement against Dynasties (MAD) has set out to gather over 5 million signatures as part of the process to push for a law banning political dynasties through a people’s initiative. “If we will succeed in doing this, we will experience real change. We will accomplish something good for our country,” MAD chairman Quintin San Diego said at a forum at the University of the Philippines-Diliman on Tuesday afternoon. The group described itself as “an association composed of civic-minded individuals and professionals” that believes “in a government of laws rather than of men.” San Diego added that aside from soliciting signatures, his group wants to make ordinary Filipinos aware of the bad effects political dynasties have on the country. “They [political dynasties] have control of politics and the economy… Kung magkakamag-anak na ang nasa kapangyarihan, ano pa ang pagkakataon ng karaniwang tao na mahalal?” he said. A study by the Asian Institute of Management revealed that 68 percent of the Philippines’ current lawmakers are members of political dynasties. The same study showed political dynasties are located in poor regions of the country. For the May 2013 midterm polls, 12 out of the 21 senatorial bets from the two biggest coalitions come from known political families. Some Read More …

Comelec may exempt CCT program from fund release ban

 News
Feb 262013
 
Comelec may exempt CCT program from fund release ban

The Commission on Elections (Comelec) might exempt the Department of Social Welfare and Development’s conditional cash transfer (CCT) program from the election-related ban on the release of public funds. Poll chairman Sixto Brillantes Jr. said Tuesday they will be hearing the request to allow the release of funds for CCT even during the campaign period. “Kung makita namin na pwede ituloy then we will give them exemption, depende sa lalabas sa hearing,” he told reporters. There is no definite date yet for the hearing. The ban on the release of public funds will start on March 29. Section 1 (2) of Comelec Resolution 9585 states that the DSWD and any other office in other departments of the government performing similar functions are prohibited to release, disburse or spend public funds except for salaries of personnel. Other routine and normal expenses may be authorized by the Comelec but only after due notice and hearing. “Should a calamity or disaster occur, all releases normally or usually coursed through the said departments and offices of other departments shall be turned over to, and administered and disbursed by, the Philippine National Red Cross, subject to the supervision of the Commission on Audit (COA) or its representatives, and no candidate or his or her spouse or member of his family within the second civil degree of affinity or consanguinity shall participate, directly or indirectly, in the distribution of any relief or other goods to the victims of the calamity or disaster,” the resolution further states. Read More …

PHL protests China's fishery patrols in West PHL Sea

 News
Feb 262013
 
PHL protests China's fishery patrols in West PHL Sea

The Department of Foreign Affairs (DFA) on Tuesday protested China’s routine fishery patrols in the disputed South China Sea as part of it would include areas within the Philippines’ territorial waters. “The Philippines strongly objects to the Chinese patrol of Philippine maritime domain in the West Philippine Sea. Such activities would not validate the nine-dash line and are contrary to China’s obligation under international law including the UN Convention on the Law of the Sea,” Hernandez said at a press briefing. China’s nine-dash line is a U-shaped map that covers nearly 90 percent of the South China Sea. “We again call in China to respect our territorial sovereignty and exclusive economic zone,” Hernandez said. China’s Fishery Bureau last week announced that patrols in the resource-rich waters, where Vietnam, Malaysia, Brunei and Taiwan also have overlapping claims, will be a “top priority” in 2013 and 2014. The patrols, according to state-run Xinhua News Agency, aim to safeguard the “legitimate interests of Chinese fishermen.” China’s announcement came on the same week it rejected Manila’s initiative to let a United Nations arbitration body hear the Philippines’ complaint over what it calls Beijing’s “excessive” claim to waters where undersea gas deposits have been discovered in several areas. China said Manila’s case was legally infirm and carried unacceptable allegations. Regarding the fishery patrols, Hernandez said the Philippines “exercises sovereignty and sovereign rights over the waters and features in the exclusive economic zone and continental shelf in the West Philippine Sea.” “Therefore, we continue to call Read More …

Stocks sink as investors worry over Italian vote

 Economy
Feb 262013
 
Stocks sink as investors worry over Italian vote

MANILA, Philippines (Xinhua)- Profit takers pulled down the Philippine stock market today. The bellwether Philippine Stock Exchange index lost 1.35 percent or 90.66 points to 6,630.67. The broader all-share index retreated by 0.77 percent or 32.07 points to 4,144.87. Trading volume reached 2.03 billion shares worth P10.49 billion ($257.83 billion) with 111 stocks declining, 55 advancing, and 43 unchanged. All six counters closed in the negative. Analyst Justino Calaycay of Accord Capital Equities Corp. said investors took note of the 216-point drop of the Dow Jones industrial average index to start booking their gains. “It was a day filled with a menu of negative news from Europe,” Calaycay said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Among the negative developments cited by the analyst was the latest election in Italy. Investors are worried over projections in Italy that showed no political coalition is strong enough to form a government. This might lead to political deadlocks that could lead to another Euro-zone crisis. Italy is divided between those pushing for austerity measures as a means to restore the economy back to health and the populists, who oppose such measures. In the US, Calaycay said investors are growing apprehensive over the developments in Europe and ahead of a spate of economic data this week. Stocks in the 30-company index were mostly down. These issues were SM Investments Corp., Ayala Corp., and Ayala Land, Inc.

NBI told to probe escape of 3 Chinese drug lords

 News
Feb 262013
 
NBI told to probe escape of 3 Chinese drug lords

By Tetch Torres-Tupas INQUIRER.net 7:11 pm | Tuesday, February 26th, 2013 Justice Secretary Leila De Lima. INQUIRER/Niño Jesus Orbeta MANILA, Philippines—Justice Secretary Leila De Lima on Tuesday ordered the National Bureau of Investigation to conduct a parallel probe on the circumstances surrounding the escape of three Chinese drug lords last Feb. 21. Li Lan Yan alias Jackson Dy, his wife Wang Li Na and Li Tian Hua were snatched by armed men last Feb. 21 while on their way to attend a court hearing. Police arrested four people, among them a village chief in Imus City, for their alleged participation in the escape of the said Chinese drug convicts from jail personnel in Cavite. Police found evidence linking to the Ozamiz robbery gang arrested suspects Rodel “Gorio” Cambongga, 24; Emiliano Quilicol, 43; Rene “Dodo” Bersales, 33; and Leovino “Nonoy” Fontanilla, 46, the head of Barangay (village) Bayang Luma IV. The criminal gang, so named because its members are natives of Ozamiz City, was allegedly behind the “rescue operation” of the Chinese convicts from the hands of the Cavite provincial guards. They were reportedly paid a certain amount for the drug convicts’ escape. De Lima said she wanted to know where the amount paid to the armed men went. “Also, why Jackson Dy and company are not in the NBP (National Bilibid Prison) custody because supposedly they are already convicted. If accused in one case  had been convicted, he should be transferred to the NBP following a Supreme Court circular,” she Read More …

Feb inflation foreseen at 2.8-3.7 pct

 Economy
Feb 262013
 
Feb inflation foreseen at 2.8-3.7 pct

MANILA, Philippines (Xinhua) – Inflation growth in February is forecast to grow between 2.8 to 3.7 percent in February on back of higher oil prices, the central bank said today. Central Bank Governor Amando Tetangco Jr. said lower food and utility prices will offset the rise in oil prices. He added that February’s forecast is still within the low-end of this year’s three to five percent inflation target. “Results of the (central bank’s) latest forecasting exercises suggest that average inflation for 2013 and 2014 could still settle at the lower half of the government-set target range,” Tetangco said in a  text message sent to reporters. Tetangco said this continues to reflect “manageable inflation pressures and well-anchored inflation expectations.”    Inflation growth in February is forecast to grow between 2.8 to 3.7 percent in February on back of higher oil prices, the central bank said today.

PH maids in HK seek direct hiring as recruitment agencies demand placement fees

 News
Feb 262013
 

By Tina G. Santos Philippine Daily Inquirer 6:45 pm | Tuesday, February 26th, 2013 MANILA, Philippines—Filipino domestic workers in Hong Kong want the Philippine government to lift the ban on the direct hiring of Filipino domestic workers abroad. According to a statement from the United Filipinos in Hong Kong (Unifil), Filipino household service workers in the territory will troop Wednesday, to the Philippine Consulate General to express their demand. The United Filipinos in Hong Kong (Unifil-Migrante-HK), the organization leading the picket protest, stated that returning the direct hiring as an option to remove a threat to the livelihood of Filipino domestic workers, especially those processing their papers now. This demand by Filipino domestic workers comes at a time when recruitment agencies from Hong Kong and the Philippines are fighting over the placement fees being charged to the Filipino domestic workers. According to Unifil, the Philippines-based recruitment agencies want the Philippine government to allow them to charge the workers placement fees while letting the Hong Kong-based agencies to determine fees on their own. “In the middle of this still-unresolved ‘brawl,’ Filipino domestic workers are being wrongfully blamed and used as scapegoats by agencies, especially those based in HK. Such baseless accusations are only fodder for the anti-migrant sentiments being fanned by many entities in Hong Kong,” it added. Recently, the Society of Hong Kong Accredited Recruiters of the Philippines (SHARP), the Philippines-based agencies, imposed a moratorium on sending domestic workers to Hong Kong as it complained of the overly strict and Read More …

Comelec teams up with NGOs, universities 'to make elections work' in Abra

 News
Feb 262013
 
Comelec teams up with NGOs, universities 'to make elections work' in Abra

Abra province, a perennial hotbed of election-related violence, will be the target of a Commission on Elections (Comelec) project that will “aim to restore the full functioning of the electoral exercise” there. Abra is “really an area of concern for so many years,” noted Comelec chairman Sixto Brillantes Jr. on Tuesday. “This is where I grew up.” In order “to make elections work” in Abra, the Comelec has partnered with nongovernment organizations and academic institutions. The project proponents have chosen Peñarrubia town for the endeavor. Those who signed the memorandum of agreement with the Comelec were the Concerned Citizens of Abra for Good Government (CCAGG), Transparency and Accountability Network (TAN), De La Salle University—Jesse M. Robredo Institute  of Governance, and University of the Philippines-National College of Public Administration and Governance. Vicious cycle The project proponents cited a study conducted by Ateneo School of Government in 2009 describing the situation in Abra as “a vicious cycle of violence, disempowerment and abuse of authority where politicians, due to failures of institutions, are able to use violence to stay in power and enrich themselves at the expense of the people who are kept poor and disempowered, unable to change their fate and the situation of their province.” The same study also stated that “national and local connections allow the same political families to have a long hold on power and the local elites are one way or another connected to who’s who in politics at the national level.” Under the MOA, the Comelec Read More …

DOJ urged to upgrade raps vs suspects in Dutch NGO leader's slay

 News
Feb 262013
 
DOJ urged to upgrade raps vs suspects in Dutch NGO leader's slay

The fiancée of slain Dutch development worker Wilhelm Geertman on Tuesday urged the Department of Justice (DOJ) to upgrade the criminal charges filed against the suspects in the killing from the current robbery with homicide to murder and robbery.  In a petition for review filed with the DOJ, Maria Aurora Agustin Santiago contested the prosecutor’s recommendation that the lesser complex crime of robbery with homicide should be slapped against the suspects in the July 2012 killing. The suspects in the case are Harold Dela Cruz, Marvin Marsan and several Jane and John Does.  “This is not merely about an investigating prosecutor’s error in the appreciation of the facts and the pieces of evidence before him,” said Santiago’s legal counsel, Edre Olalia. “The bigger picture is, as in this case, the propensity to ignore and cover-up state responsibility in extrajudicial killings contributes to the impunity and obscures the political nature of the attack.” The camp of Geertman insisted that his death was a case of extra-judicial killing because the suspects “went into the trouble of making him ignominiously kneel down thereby costing them several minutes before they were able to carry out their alleged plan.” Geertman was shot at close range at the Alay Bayan-Luson Inc. (ABI) headquarters in San Fernando, Pampanga, by two unidentified gunmen who fled in a motorcycle. He was the executive director of ABI, a non-government organization (NGO) that is active in land issues and disaster response. “Geertman, who is known for his commitment to work for Read More …

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