Fare share

 Economy
Jan 162015
 
Fare share

Only seven days after four groups filed separate cases against the fare increases in all three light rail line in the metropolis, the Supreme Court ordered the DOTC to explain what seemed to be its hurried move to increase the fare. Well and good. It is just that the fare increase now seems to be the wrong target of public dismay. It is now clear, at least based on talk in business circles, the real culprit is the “concession agreement” forged by the DOTC with a private group. In September last year, the DOTC awarded the much-delayed P65-billion LRT-1 “extension project” to a consortium called Light Rail Manila Corp. or LRMC, which is owned by the group of Manuel V. Pangilinan with 55 percent, the Ayala group with 35 percent and the foreign group Macquarie with 10 percent. Under the agreement, LRMC was supposed to use its own funding to construct the 11-kilometer “extension” of LRT-1 from Baclaran to Bacoor (Cavite), plus operate the existing line between Baclaran and Roosevelt on Edsa in Quezon—for all of 30 years. Originally, by the way, the government set the “extension project” to start by June last year, with the first phase (Baclaran to Sucat) already operating by June 2016, or toward to the end of the term of our dear leader Benigno Simeon, a.k.a. BS. For some unknown reasons, the project hit some snag and nobody in the Aquino (Part II) administration can even dare say when the trains on the additional LRT-1 Read More …

Senator calls for review of Civil Aeronautics Act

 General
Jan 162015
 
Senator calls for review of Civil Aeronautics Act

MANILA, Philippines – A senator has stressed the need to revisit Republic Act 776 or the Civil Aeronautics Act of the Philippines of 1952 to provide passengers adequate protection against erring airline companies.  Sen. Bam Aquino, chairman of the Senate committee on trade, commerce and Entrepreneurship, said there is an urgent need to revisit the law because the situation is far different now compared to 63 years ago. “With more Filipinos now who are capable to travel by air to reach to their destination, let’s introduce necessary revisions to the law to make it more responsive to today’s needs and enable it to give enough protection to passengers,” Aquino said. Aquino stressed the need to review the provisions of RA 776 on Violations and Penalties, where any carrier or person who violates or fails to comply with any provision of the Act, or any of the terms, conditions or limitations in a permit or amendment thereto or any orders, rules or regulations issued by the CAB shall be subject to a fine not exceeding P5,000 for each violation. “It is unacceptable that some of our countrymen were delayed or weren’t able to go home to be with their families and friends during the Christmas season,” Aquino said. This age-old provision was used as basis by the Civil Aeronautics Board (CAB) in penalizing Cebu Pacific P52.1 million for delays and cancelled flights during the Christmas season. The fine was the largest ever imposed on an airline in Philippine aviation history. Business ( Read More …

BIR identifies 27 priority programs

 Economy
Jan 162015
 
BIR identifies 27 priority programs

MANILA, Philippines – The Bureau of Internal Revenue has identified 27 priority programs this year to shore up collections and meet its revenue target of P1.7 trillion. The BIR missed last year’s collection goal of P1.45 trillion, which was based on the assumption that the economy would grow by 6.5 to 7.5 percent. Gross domestic product grew by only 5.8 percent in the nine months to September 2014 on anemic public spending. One such initiative is the establishment of an online system for transfer tax transactions to expedite processing of one-time transactions, issuance of certificate of Certificate Authorizing Registration (CAR) and boost collections.  This program aims to provide a facility for BIR officers to review and approve online the one-time transactions filed by taxpayers. One-time transaction includes not only transfer of real properties and stocks not traded in the stock exchange but also transfer of properties in connection with estate tax and donor’s tax. The BIR also plans to put in place a web-based system that generates the CAR with barcode and electronically transmits data to Land Registration Authority.  This is expected to eliminate or reduce revenue losses from all trips of transfer tax transactions. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 An online system for accreditation importers and customs brokers will likewise be adopted. This will automate the manual accreditation process from the filing of application to the issuance of importers/brokers clearance certificate. The BIR shall also put in place a system that will automatically compute the Read More …

BCDA to sell 7 properties

 Economy
Jan 162015
 
BCDA to sell 7 properties

MANILA, Philippines – State-run Bases Conversion and Development Authority (BCDA) is seeking bids from interested firms for the sale of seven properties with a total value of P115.357 million in Metro Manila. In an invitation posted on its website, the BCDA said it “is inviting interested bidders to bid for the sale of the properties on an “as-is, where-is’ basis.” The properties for sale and their respective minimum bid prices are as follows: 165-square meter (sqm) Kalayaan Villa in Fort Bonifacio (P4.950 million); 225-sqm Summit Housing in Fort Bonifacio (P5.063 million); 96 sqm Lot 12515-E in East of C5 (Circumferential 5) Road (P1.776 million); 262 sqm Lot 3 in East of C5 Road (P4.847 million); 438 sqm Lot 2A and 2B in East of C5 Road (P8.103 million); 976 sqm Lot 12509-B in East of C5 Road (P18.056 million); and 4,040 sqm Lot 2 and Lot 25-E-3 in East of C5 Road (P72.562 million). Interested bidders may purchase the Terms of Reference (TOR) for the subject bidding at the BCDA Corporate Center in Bonifacio Global City, Taguig City until Feb. 15, for a non-refundable fee of P10,000. The TOR may also be viewed by checking the BCDA website at www.bcda.gov.ph. The properties are not being sold as one lot so, interested firms may opt to bid for any or all of the properties. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 A pre-bid conference for the properties is set to be held on January 23, at the BCDA Corporate Read More …

For P122.8-B Laguna Lakeshore dike project: GT Capital, possible partners hold talks

 Economy
Jan 162015
 
For P122.8-B Laguna Lakeshore dike project: GT Capital, possible partners hold talks

MANILA, Philippines – GT Capital Holdings Inc. of tycoon George S.K. Ty is in talks with two other conglomerates for a possible partnership in bidding for the P122.8-billion Laguna Lakeshore Expressway Dike project. GT Capital president Carmelo Maria Luza Bautista said discussions are going on with two firms, one local and the other a foreign company, for a potential joint venture. “You can consider them conglomerates, both the onshore and the offshore one,” Bautista said. GT Capital and 23 other groups have bought bid documents for the government’s largest Public-Private Partnership (PPP) project. Bautista said GT Capital is keen on securing a partner for the Laguna Lakeshore project given its scale. He said both firms they are currently in talks with would be able to provide financial muscle and technical know-how to the group. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Nothing has been signed yet. We’re still in the process of meeting and trying to find if there’s a match,” Bautista said. The Laguna Lakeshore project is seen to mitigate flooding in the Laguna Lake coastal towns, particularly in southern Metro Manila and Laguna, improve the environmental condition of the lake, and promote economic activities through the efficient transport of goods and people. GT Capital is into banking (Metropolitan Bank & Trust Co.), property (Federal Land), power generation (Global Business Power Corp.), automotive assembly and imports (Toyota Motor Philippines), life insurance (Philippine AXA Life Insurance), non-life insurance (Charter Ping An Corp.) and automotive distribution (Toyota Manila Bay Read More …

LGUs adopt new licensing system

 Economy
Jan 162015
 
LGUs adopt new licensing system

A TOTAL of 25 local government units in Davao Region have adopted the Business Permits and Licensing System (BPLS), according to the Department of Trade and Industry (DTI). In Davao del Norte, five LGUs have switched to the new system – Asuncion, New Corella, Santo Tomas, Tagum City, and Talaingod. In Davao del Sur 13 LGUs have switched — Digos City, Bansalan, Kiblawan, Magsaysay, Malalag, Matanao, Padada, Santa Cruz, Sulop, Don Marcelino, Jose Abad Santos, Malita, and Sarangani. Four Davao Oriental LGUs — Boston, Caraga, Lupon, and Tarragona — adopted the BPLS and three in Compostela Valley — Mabini, Mawab, and New Bataan. The BPLS is an initiative between DTI and the Department of Interior and Local Government (DILG) to improve the competitiveness and business climate of the LGUS by streamlining the process issuing business permits and licenses. DTI-Davao officer-in-charge Maria Belenda Q. Ambi told Sun.Star Davao that under the BPLS, there is a unified form that needs only two signatories, and processing time has been reduced to 10 days or less for new business permit and not more than five days for business renewals. The standards set in the BPLS are anchored on Republic Act No. 9485 or the Anti Red Tape Act of 2007. In 2013, a total of 23 LGUs adopted the BPLS: Panabo City, Island Garden City of Samal, Dujali, Carmen, Kapalong, and San Isidro, Davao del Norte; Hagonoy, Davao del Sur; Davao City; San Isidro, Mati City, Governor Generoso, Banaybanay, Manay, Banganga, and Cateel, Davao Read More …

Supply lack triggers increase in veggie prices

 General
Jan 162015
 
Supply lack triggers increase in veggie prices

WITH supply running low, the prices of vegetables and other farm products have gone up, the Philippine Statistics Authority-Bureau of Agricultural Statistics (PSA-BAS) has reported. The agency monitored an increase from P2 to P40 in selected vegetables and other agricultural products at the Bankerohan Public Market as of January 9. The prices of pork lean meat, ampalaya, sitao, carrots, eggplant, native pechay, and papaya have also increased. Habitchuelas or beans had the highest price increase: from P40 last December 23 to P80 on January 9. Sitao rose from P40 to P80. A P20 increase was also recorded in ampalaya, now selling by as much as P80. Native pechay went up by P10, to P80. Pork lean meatis now P175 up by P5. A P7 to P5 increase was recorded for eggplant, wherein it is now priced at P25 to P30 from P18 to P25. Papaya went up to P20 to P25 from P18 to P20, a P2 to P5 increase. Native garlic remains high at P360 to P380 since December 19due to a lean supply. PSA-BAS noted a drop in the prices of tilapia, cabbage, red onion, white potato, and calamansi. Cabbage was P30 as of January 9, down from P60 in December 23. Tilapia was P100,down from P120. Potato was down to P70 from to P80,and red onion to P70 from P80. Calamansiwas P30, down from P35. The prices of other commodities remained stable. Well-milled rice is at P41 to P46 with a prevailing price of P43 while regular-milled Read More …

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