INFLATION LIKELY BETWEEN 8.5 TO 9.3 PCT IN FEBRUARY SAYS BSP

MANILA - The Bangko Sentral ng Pilipinas said on Tuesday inflation likely settled between the 8.5 to 9.3 percent range in February.

Upward price pressures for the month were from higher LPG prices as well as the elevated prices of key food items such as pork, fish, egg and sugar, the BSP's Department of Economic Research said in a statement.

On the other hand, the lower prices for domestic petroleum, fruits and vegetables, chicken and beef, along with the peso appreciation could have contributed to the easing in price pressures, it added.

"The BSP will continue to adjust its monetary policy stance as necessary to prevent the further broadening of price pressures as well as the emergence of additional second order effects," it said.

Inflation accelerated to 8.7 percent in January, exceeding the forecast by the central bank.

Economists are expecting another 25 basis points or up to 50 bps interest rate hike in the next monetary policy meeting in May as inflation remains above the government's 2 to 4 percent target.

The Philippine Statistics Authority is set to release the official inflation figures on Tuesday March 7.

MARCOS REJECTS MORE POWERS TO REIN IN INFLATION

MANILA — President Ferdinand Marcos, Jr. does not see the need for additional powers as the country's concurrent agriculture chief to curb inflation.

In a chance interview with reporters, Marcos described the proposal of a House lawmaker as "not necessary."

"If we declare, for example, if we declare-- I already have the power to declare an emergency and to control the prices of commodities. So I don't think there's any need for more than that. That is efficient," the President said.

Marikina 2nd District Rep. Stella Quimbo said additional powers for President Marcos would stabilize food prices and fight hoarding and price manipulation.

Quimbo said rising food prices are putting more people into poverty, which was why she urged government to use taxes to provide subsidies to mitigate the effect of food inflation.

In response, the President said that as agriculture chief, there are some factors that he cannot control.

He said he is "more optimistic than the Central Bank" that inflation will slow down in the coming months even if this has quickened recently.

"Noong February, hindi pa masyadong bumababa ang fuel prices. Ngayon pa lang natin inaayos ang food supply para yung inflation na galing sa agricultural products ay mabawasan," he said.

"Wala tayong magagawa doon sa mga iba't ibang inputs, pero yung sa agrikultura... The other elements of inflation hindi natin masyado ma-control. Kaya meron tayong ginagawang ganito para makabawi naman doon sa pagtaas ng presyo," he added.

COAST GUARD REPORTS OIL SPILL FROM SUNK TANKER

MANILA — The Philippine Coast Guard has said it is monitoring a spill of diesel fuel stretching several kilometers after a tanker sank in the waters of Oriental Mindoro.

Oil tanker MT Princess Empress was carrying 800,000 liters of industrial fuel oil from Bataan to Iloilo when its engine overheated, the PCG said. It then drifted toward the waters off Balingawan Point in Naujan town due to rough sea conditions until it became half-submerged.

The PGC on Tuesday said it monitored a spill of diesel fuel, but did not find in the sea any industrial fuel oil from the vessel’s cargo.

“The PCG team is set to install an oil spill boom to control the spillage,” it said.

In an update on Wednesday, the agency said the oil spill was estimated to be six kilometer-long and four kilometer-wide. It also confirmed that the vessel has completely sunk.

In a statement, the Department of Environment and Natural Resources said it is “monitoring the site in relation to the potential marine biodiversity impacts and the possible risk to lives and livelihoods in the area due to the direction of the current and distance from the shoreline which may be affected.”

The incident also prompted environmental group Greenpeace Philippines to urge the government to eliminate the country’s reliance on fossil fuels.

“If the government is really committed to protecting the environment, as it has claimed since its inauguration, it must end the Philippines’ fossil fuel dependence and start making oil, coal, and gas corporations accountable,” Greenpeace campaigner Jefferson Chua said.

MARCOS JR ORDERS STEPS TO BOOST MARITIME TRADE

President Ferdinand Marcos Jr. on Tuesday ordered a whole-of-government approach to bolster the new maritime industry program that is expected to bring substantial economic growth.

In a speech during the Philippine Maritime Industry Summit 2023, President Marcos said the new program, called the Maritime Industry Development Plan (MIDP) 2028, will cover the eight-point economic agenda of his administration.

“Through this development plan—which was formulated by the Marina (Maritime Industry Authority) and the DOTr (Department of Transportation), in coordination with relevant government agencies and key stakeholders—we will achieve our two core objectives: First, to ensure the development and expansion of the Philippine merchant fleet and second, to ensure the advancement of a future-ready maritime human capital,” he said.

“Specifically, this plan covers eight priority programs ranging from enhancing maritime transport safety and security; promoting environmental sustainability; implementing digitalization; modernizing, upgrading and expanding domestic and overseas shipping industries— including the local shipbuilding and ship repair industry; promoting a highly skilled and competitive maritime workforce; and adopting an effective and efficient maritime administration governance system,” the President said.

Marcos also noted that the MIDP will establish a system that will lessen the detrimental impacts of both natural and man-made calamities and prepare for future contingencies that may affect the sector.

In 2022 alone, the Philippines was the world’s primary source of maritime manpower— constituting 25 percent of the global seafarers and bringing in a total of $6.71 billion in remittances, the President said.

PRESIDENT DIRECTS DA TO IMPROVE LOCAL CROPPING SYSTEM, FISHERY SECTOR

President Ferdinand R. Marcos Jr. on Tuesday asked the Department of Agriculture to produce a detailed cropping schedule to ensure that agricultural imports will not harm local production.

The President also said the government is formulating a plan to improve the country’s fishery sector, as he has instructed different agencies to develop the necessary infrastructure and facilities.

Mr. Marcos, also the concurrent Agriculture Secretary, held a briefing with the DA and other concerned agencies to address the crisis in fishery production after tackling the country’s rice and livestock supply.

Meanwhile, Bureau of Customs (BOC) Commissioner Bienvenido Rubio has committed to help the House of Representatives in monitoring the entry of agricultural products into the Philippines.

Rubio appeared at the House Committee on Agriculture and Food’s ongoing investigation on the hoarding of the agricultural goods, and the consequent price manipulation that causes hefty price increases on such commodities.

The President asked agriculture officials to go into more detail on the cyclical nature of crops in the Philippines to avoid importing products during the harvest season.

The government, Mr. Marcos said, must consider the sensitivities of local cropping, particularly their cyclical nature when sourcing products abroad.

Under the Marcos administration’s Philippine Development Plan, the DA is targeting a growth rate of 1.8 percent to 3.3 percent in the agriculture sector from 2023 to 2028.

MARCOS BACKS PUV MODERNIZATION, URGES DRIVERS TO STOP STRIKE

MANILA — President Ferdinand Marcos, Jr. is supporting moves to modernize public utility vehicles but said proper implementation of the policy would be needed.

"Ngunit, sa pag-aaral ko, parang hindi naging maganda ang implementation nung modernization," he said during a chance interview with reporters.

The President said while transportation modernization is important to help reduce cost for passengers, it is "not urgent" because current infrastructure for modern transport still needs to be built.

"Tama naman yun. Kailangan safe yung mga jeepney, yung mga tricycle, yung mga bus, kailangan safe 'yan. Pero iba-iba yung naging standards ng kanilang ginawa," he added.

This will also allow jeepneys and other mode of public transport, he said, to be safe. However, he said he is against decommissioning jeepneys that could still be used.

"May mga luma naman na maganda pa rin, eh. May luma naman na pwede pang gamitin. So baka yun tingnan natin," said Marcos. " Eh kung magandang mag-alaga yung driver? Maganda yung jeep niya, 'di pwede pang gamitin 'yan, safe pa naman."

Marcos also called on transport groups to stop their scheduled strike, saying commuters will suffer.

Jeepney and UV operators have scheduled a strike from March 6 to 12 to express their opposition from the modernization program.

The Department of Transportation said government has contingency plans in place in case their talks with transport groups collapse, with Transport Secretary Jaime Bautista confident that this would not push through after the dialogue.

This move is also considered the first step towards the integration of electric vehicles, said Marcos, Jr. It can be remembered that in January, he issued an order cutting tariffs for electric vehicle parts to zero.

HOUSE APPROVES CON-CON BILL ON 2ND READING

The House of Representatives on Tuesday took another step toward approving the bill that will review the economic provisions of the 1987 Constitution.

In a voice voting, the House on plenary session approved the Resolution of Both Houses (RBH) 6, which calls for the creation of a hybrid constitutional convention (Con-con), setting the stage for the resolution’s plenary approval on third and final reading before Congress adjourns in March.

The second reading approval came after just three days worth of plenary debates on the measure.

On Tuesday morning, the House committee on appropriations chaired by Rep. Zaldy Co of Ako-Bicol, approved the funding provision of the RBH 6. The budget would be used for the election of delegates, as well as the operation of the Constitutional convention.

Cagayan de Oro Rep. Rufus Rodriguez, chair of the House constitutional amendments committee, maintained that the Constitutional convention itself would require a budget of about P6 billion while another P3 billion will be used for the conduct of a plebiscite on the proposed amendments.

“This is of transcendental importance since this is about having a Con-con that will draft a new constitution that is more attuned to globalization and provide job opportunities to our people,” Rodriguez said.

Rodriguez also stressed the public hearings conducted by the House, which showed that majority of the stakeholders were in favor of the proposed amendments.

“The compelling reason is that this institution cannot turn its back from the truth and reality that the 1987 Constitution needs to be reviewed for it is the third most restrictive in the world and the most restrictive in ASEAN. Its inflexibility and restrictiveness hampers foreign direct investments to come in as much as they do in other countries,” Rodriguez told reporters.

COMELEC JUNKS ATTEMPT TO DISQUALIFY TULFO FROM 2022 SENATE RACE

MANILA — The Commission on Elections junked a motion for reconsideration to disqualify Raffy Tulfo from the senatorial race in the May 2022 national and local elections.

The poll body noted that the petition, which was filed by Julieta Licup Pearson dated May 10, 2022, lacks arguments and it also noted that Tulfo’s case is now beyond its jurisdiction.

In a resolution dated February 28, Comelec said the petition to disqualify Tulfo "neither argues that the evidence on record is insufficient to justify the Assailed Order nor that the ruling arrived upon by the Commission (First Division) is contrary to law." Pearson wanted Tulfo disqualified for failing to comply with mandatory requirements.

Comelec en banc also noted that Tulfo has been a senator for months now, after being proclaimed in May last year and subsequently taking his oath of office in June.

"A long line of cases has established that the Senate Electoral Tribunal assumes exclusive jurisdiction over all election contents relating to the members of the Senate," Comelec noted in its statement on Wednesday.

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CHEMICAL ENGINEERING STUDENT DIES IN ALLEGED HAZING

MANILA — A missing college student, suspected to be the latest victim of hazing, was found dead Tuesday in Cavite.

John Matthew Salilig's body was found in a vacant lot in the province after more than a week of going missing. One of the suspects disclosed the victim's location to authorities.

John Matthew, a chemical engineering student from Adamson University, was reported missing on Feb. 20 by his brother John Michael.

John Michael said it was Feb. 17 when his younger brother told him he would attend the welcoming rites of the Tau Gamma Phi fraternity group in Laguna.

As a member of the group, John Michael said he allowed his brother to attend the activity, which he said he now deeply regrets.

"For me siguro with the high hopes and I know nothing [bad] will happen so kahit pigilan ko man that time I know a-attend pa rin siya," he said.

"So as a brotherhood um-oo ako, sabi [ko], 'Sige basta see you on Sunday.'"

One of the suspects in the death of John Matthew told authorities that the victim received at least 70 hits in the initiation rites.

After the activity, John Matthew lost his life allegedly while on board a vehicle.

"Hinawakan ko siya dito sa mukha hinawakan ko 'yun kaya ako may finger print kamay ko 'yun. Titignan ko sana, 'ka ko di ba pag buhay ka pa may moist-moist pa?" the suspect said.

Adamson University said it would conduct its own investigation into the case.

"Rest assured, we will not allow anything to come amiss," it said.

Tau Gamma Phi, meanwhile, condemned the violence.

John Matthew's family is now calling for justice for his death.

According to the student's father, Joeffrey, hazing should be stopped by fraternities.

"Hopefully there will be justice and itong mga tao na ito na may responsibility sa pagkamatay ng anak namin, the school can help us do something."

John Matthew's body will undergo autopsy and forensic examination.

SEVERAL PERSONS OF INTEREST IN ALLEGED HAZING DEATH UNDER POLICE CUSTODY: VICTIM'S FAMILY

MANILA – Around 7 persons of interest in the alleged death due to hazing of an Adamson University student are now under police custody, the victim’s father said Wednesday.

“Sa pagkakaalam po, kasi yung 2 anak ko po ang nag-aasikaso po ngayon sa kaso, meron na po ngayong mga 7…ang nasa kustodiya ng polisya ngayon,” said Joeffrey Salilig, father of John Matthew Salilig.

Police have said they are have identified 18 suspects in the death of Salilig, who was reported missing for one week before police found his body dumped in a vacant lot in Cavite.

Imus City, Cavite Police Station Officer-in-Charge Lt. Col. Michael Batoctoy said this is the first time someone had dumped a body in the lot where Salilig was found.

Laguna provincial police chief Col. Randy Glenn Silvio said investigators hoped to get the car the victim rode on and subject it to forensic examination as soon as possible.

The official also said they aimed to file charges against the suspects before the Biñan City Porsecutor’s Office within the week.

ENTERTAINMENT & LIFESTYLE

'SINO KA, MILA?' NEW RECORD FOR 'DIRTY LINEN' ONLINE WITH CLIMACTIC SCENE

MANILA — The primetime thriller "Dirty Linen" reached Monday a new record viewership online, as the lead character portrayed by Janine Gutierrez was nearly killed at the hands of the tyrant family she seeks to bring down.

In the episode titled "Wrath," Mila (Gutierrez) was abucted and questioned by Carlos (John Arcilla) and Ador (Epy Quizon), on the suspicion that she was involved in the scandal that exposed the latter's porn business.

"Sino ka, Mila?" Carlos repeatedly asked her.

The Fiero brothers-in-law suspected right, but Alexa — in disguise as the maid Mila to carry out her vengeful scheme — was determined to play the long game, denying her involvement despite being strangled by Ador.

Alexa could have died, had it not been for the arrival of Feliz (Angel Aquino) at the warehouse where she was kept hostage.

Alexa's interrogation proved to be thrilling viewing for followers of "Dirty Linen," going by the new all-time high viewership the teleserye logged on YouTube during its livestream.

On Kapamilya Online Live, the concurrent viewers of "Dirty Linen" peaked at 141,957 — its highest since its January 23 pilot — according to producer Dreamscape Entertainment.

Aside from Kapamilya Online Live, the free livestreaming service of ABS-CBN, "Dirty Linen" airs weeknights on Kapamilya Channel, TV5, A2Z, iWantTFC, and TFC.

SPORTS

PHOENIX DEF. CONVERGE, 106-103

Encho Serrano led the way in Phoenix Super LPG (3-5) slim win against the Converge FiberXers (6-3), 106-103 to grab their third win and stay alive in the playoffs hunt of the 2023 PBA Governors' Cup on Sunday, February 26 at the SMART Araneta Coliseum.

Serrano finished the game with 28 points (11/16fg, 2/6 3pts, 4/7ft) along with two rebounds, two assists and a steal in 22 minutes of play. Du'vaughn Maxwell posts double-double of 19 points, fifteen rebounds, three assists, three steals and five blocks while Tyler Tio and Jason Perkins added 16 points apiece.

The Scores:

PHOENIX 106 - Serrano 28, Maxwell 19, Tio 16, Perkins 16, Muyang 8, Mocon 7, Camacho 4, Jazul 3, Manganti 3, Garcia 2, Alejandro 0.

CONVERGE 103 – Franklin 30, Stockton 11, Arana 11, Teng 11, Balanza 11, Racal 11, Ahanmisi 10, Ebona 4, Tratter 4, Browne 0.

Quarters: 23-24, 42-49, 66-69, 106-103

MERALCO DEF. MAGNOLIA, 86-84

Meralco Bolts (5-3) escape past Magnolia Timplados Hotshots (4-4), 86-84 to grab their fifth win and put a halt to the Hotshots four-game winning streak in the 2023 PBA Governors' Cup on Sunday, February 26 at the SMART Araneta Coliseum.

McDaniels top scored for the Bolts with 19 points, fifteen rebounds, one assist, two steals and a block. Chris Newsome had a solid game of 16 points, three rebounds and two assists while Aaron Black and Bong Quinto chipped in 13 and 12 points, respectively.

Antonio Hester paced the HotShots in the losing effort with a double-double of his own with game-high 23 points, fifteen rebounds and three assists while Paul Lee finished with 18 points, seven rebounds and five assists.

The Scores:

MERALCO 86 - McDaniels 19, Newsome 16, Black 13, Quinto 12, Hodge 8, Maliksi 7, Caram 5, Banchero 4, Almazan 2, Jose 0.

MAGNOLIA 84 – Hester 23, Lee 18, Jalalon 11, Barroca 11, Abueva 10, Dela Rosa 5, Escoto 4, Reavis 2, Corpuz 0, Ahanmisi 0, Dionisio 0.

Quarters: 20-18, 37-39, 63-71, 86-84

INDICATORS

FOREX $1 = P 55.33

THOUGHT FOR THE DAY

If you tell the truth, it becomes a part of your past. If you lie, it becomes a part of your future. - John Spence