SC asked to declare P2.6-trillion 2015 national budget unconstitutional

 News
Dec 242014
 
SC asked to declare P2.6-trillion 2015 national budget unconstitutional

PNoy signs P2.6-trillion 2015 national budget. President Benigno Aquino III on Tuesday, December 23, signed the P2.606-trillion 2015 national budget, which contained a modified definition of savings after the Supreme Court ruled the administration’s Disbursement Acceleration Program as partly unconstitutional. Aquino approved the 2015 national spending plan, formally known as Republic Act 10651, during a ceremony at the Malacañang Palace attended by Cabinet officials, Congress members and private sector representatives. Benhur Arcayan A former Iloilo congressman has once again asked the Supreme Court to declare as unconstitutional the P2.606-trillion 2015 national budget which was approved by President Benigno Aquino III earlier this week. In a 20-page amended petition, former Iloilo Rep. Augusto Syjuco asked the high court to issue a temporary restraining order (TRO) stopping the respondents from implementing the 2015 General Appropriations Act. Only last month, Syjuco filed a similar petition when the 2015 national budget was not yet signed.    At the time, Syjuco said the National Expenditure Program (NEP) and 2015 General Appropriations bill were unconstitutional because they redefined the term “savings” to circumvent the SC decision against the acts and practices under the Disbursement Acceleration Program. He pointed out that the Constitution defines “savings” as surplus in the budget after the completion or payment of a particular line item budget included in the general appropriations law. He said money cannot be classified as “savings” when it has never been used in the first place. In his latest petition, Syjuco said: “This we cannot accept without even Read More …

On eve of CPP anniversary, AFP renews call for NPA rebels to end armed struggle

 News
Dec 242014
 
On eve of CPP anniversary, AFP renews call for NPA rebels to end armed struggle

On the eve of the 46th anniversary of the Communist Party of the Philippines (CPP), the Armed Forces of the Philippines on Thursday renewed its call for the group and its armed wing, the New People’s Army, to end armed struggle, saying they have been harmful to the very communities they purportedly wish to help. “The senseless attacks perpetrated by the NPA against peaceful communities and infrastructure projects have caused more suffering and denied the people of development in the countryside. We must reflect why we have allowed ourselves and our communities to endure forty six years of bloody violence and senseless deaths among fellow Filipinos,” military information chief Lt. Col. Harold Cabunoc said in a press release. The CPP-NPA is still waging a protracted war in the Philippines, which is considered as the longest running insurgency in Asia. The military estimates the CPP-NPA membership at about 4,000. But Cabunoc enjoined the CPP to lay down their arms to foster peace in the country. “We can have the choice between a better life for ourselves and our children by embracing peace or continued violence and poverty through bloody armed conflict. The door for reconciliation and healing remains open to all our misguided brothers who want to embrace peace,” he said. “It has been proven that nobody is a real winner in bloody armed conflicts. We are witness to the endless misery experienced by our own people who are caught in the crossfire,” Cabunoc added. The AFP, as well as the Read More …

Sweets top ‘balikbayan’ box goodies

 News
Dec 242014
 
Sweets top ‘balikbayan’ box goodies

Holidays are sweeter with “balikbayan” boxes around. Chocolates, candies and clothes top the list of favorite balikbayan box contents, with three in every five readers citing them as among their all-time favorites. The Inquirer’s “What’s in Your Balikbayan Box?” contest, which ran from Dec. 14 to Dec. 21, asked readers to name their all-time favorite items found inside balikbayan boxes sent through the years by family members living or working in other countries. Readers from the provinces of Ilocos Sur, Cebu, Leyte, Pangasinan, Batangas, Bulacan and Cavite shared their lists of favorite goodies in boxes sent by loved ones from the United States, Canada, Italy, Saudi Arabia, United Arab Emirates, Israel, Japan, South Korea and Singapore. Sixty-seven percent listed “chocolates and candies” while 63 percent had “clothes” as among their top favorite goodies. Others wrote shoes (56 percent) and food (52 percent). Toiletries (44 percent) and canned goods (41 percent) were also on the lists, as were bags (22 percent), toys (19 percent) and watches (15 percent). The sweetest things “Chocolates [are] the sweetest. A balikbayan box would never be complete without them,” said Eilen Pajimula, who receives the boxes from her mother in Dubai. “Every year, my sister Marie gives us chocolates and other goods and sends [them] to us, usually during the Christmas season,” said Gee Lorena, whose sister is in South Korea. Alice Pineda is likewise excited about the balikbayan boxes her sister Arlene sends from San Diego, California. One of the things she most looks forward Read More …

Biofuels program under review

 Economy
Dec 242014
 
Biofuels program under review

Energy authorities are calling for more investments in biofuels as officials review a current program mandating the blending of biodiesel and ethanol in locally distributed diesel and gasoline. There has been market buzz that local biofuel suppliers are still unable to meet required demand, nearly a decade since the Biofuels Act of 2006 started creating a market for plant-based fuel additives. The measure aims to curb the country’s fuel imports, bring value-added income to farmers, and lessen vehicle emissions with “cleaner” fuel blends. Currently, the mandated blend for coconut based biodiesel is 2 percent under the Biofuels Act of 2006 and authorities are uncertain whether a higher blend of 5 percent may be implemented despite initial enthusiasm from coconut farmers and the Department of Agriculture, DOE Undersecretary Zenaida Monsada said in an interview. “The target for B5 (5 percent blend), really, under the biofuels program, is 2015. We are looking into whether we can still pursue that,” Monsada said. Being the top coconut oil producer, the Philippines has so far been able to locally source the two percent blend for biodiesel. However, recent typhoons have badly hit coconut-producing areas. Combined with the declining coconut oil production from aging trees and loss of productivity from recent infestations, authorities say they want to make sure local farmers can keep up with demand if the blend rate is increased to B5. Compliance with the current 10-percent mandate for ethanol blend in gasoline seems more challenging for the Philippines due to lack of capacity Read More …

‘Economic fundamentals remain solid’

 General
Dec 242014
 
‘Economic fundamentals remain solid’

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) said the country’s economic fundamentals remain solid despite external risks and challenges.  “The domestic economy continues to expand above historical average. Household consumption is expected to remain steady and growth in services sustained,” the central bank said in its latest Report on Economic and Financial Developments.  “The favorable trends in the manufacturing sector indicate the potential resurgence of the industry sector, which can potentially transform the sector into a major driver of growth in the Philippines,” the BSP said. Philippine economic growth slowed to 5.3 percent in the third quarter from six percent in the second quarter. This brought the nine-month expansion to 5.8 percent, way below the 6.5- to 7.5-percent target for the full year.  “The near to medium-term economic outlook remains uncertain, with risks largely external,” the central bank said as growth in different economies and markets remain uneven. Recovery in the US and the slower but still strong performance of emerging Asia countries have driven global growth, the BSP said. However, it said dim prospects in the euro area, Japan, and emerging markets in Latin America and the Middle East continue to weigh down global economic  output. Business ( Article MRec ), pagematch: 1, sectionmatch: 1  “Second, the uncertainty surrounding the timing of the US Federal Reserve’s shift towards monetary policy normalization indicates that capital flow volatility could materialize anew, which could affect financial markets,” the central bank said. A possible “hard landing” in China and a sustained Read More …

Gov’t allows mining projects to commence operations

 Economy
Dec 242014
 
Gov’t allows mining projects to commence operations

MANILA, Philippines – The Mining Industry Coordinating Council (MICC) has recommended to President Aquino that mining projects in the advanced predevelopment stage of their contract areas be allowed to start operations if they are willing to pay the higher taxes proposed by the council, Environment Secretary Ramon Paje said. In a briefing, Paje said several mining companies, mostly nickel producers, have already expressed willingness to pay – so they can commence operations –the proposed tax of either 10 percent of gross revenues or a tax of 45 to 55 percent on adjusted mining revenues plus a percentage of windfall profit whichever would give higher revenues to the government. Adjusted mining revenues pertain to the difference between gross sales and direct cost (direct mining cost and administrative expense).  “This shows that our computation for the government share is correct,” Paje said. Paje said there are around 100 companies with pending applications, most of which are already in the advanced stages of exploration. Of these, 10 have approved Environmental Compliance Certificates (ECC) and Declaration of Mining Project Feasibility (DMPF) but cannot start operations as the new mining policy prohibits the granting of new mining contracts pending the passage of a new revenue-sharing scheme into law. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The government wants to raise revenues, and here is the chance to do this,” said Paje. The DMPF, the last requirement needed to commence operations, is a document filed within the exploration period confirming the technical and economic Read More …

Lawmaker seeks to intervene in PWU row

 Economy
Dec 242014
 
Lawmaker seeks to intervene in PWU row

MANILA, Philippines – Negros Occidental Rep. Alfredo “Albee” Benitez sought yesterday to intervene in the ongoing conflict between members of the board of the Philippine Women’s University and STI Holdings Inc. over the latter’s plan to take over PWU, which reportedly defaulted in its financial obligations. Benitez’s family has a 40-percent equity in PWU (Manila), and Jose Abad Santos Memorial School (JASMS) in Quezon City, while STI obtained 40 percent after bailing out the schools in 2011. The senior lawmaker, who leads the Visayan bloc in the House of Representatives, said he was not fully involved in the negotiations between members of the board and STI but was asked to come in and hold the remaining 20 percent as sort of a balancing factor under the agreement.  “I think we can all settle the matter amicably. I’ll just wait for their heads to cool a bit,” Benitez told The STAR, adding he enjoys good relations with both sides. “We just have to sit down, and I’m sure they are all reasonable people.”  “The reason why the board sought investors is to reform the school and restore it to its old glory, tap experts but along the way there was probably some disagreements of which I’ve to find out,” he said.  “But for STI, what they’re saying is ‘you have not honored obligations for three years, so either you pay us back or be in default,’” he added. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He said all the Read More …

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