GOV’T RAISES NEXT YEAR’S PROPOSED BUDGET TO P5.768 TRILLION—DBM

The Marcos administration has raised its proposed budget for 2024 to P5.768-trillion, a 9.5 percent increase from this year’s national expenditure program.

However, Budget Secretary Amenah Pangandaman noted that this is still one of the lowest annual budget increases.

She said they aimed to submit it to Congress days after President Ferdinand Marcos Jr. delivers his second State-of-the-Nation Address on July 24, 2023.

Pangandaman said the 2024 National Expenditure Program (NEP) has already been presented to the President and would be presented to the Cabinet for their final approval today (Thursday).

“After a couple of weeks of sleepless nights, we had marathon meetings on the budget because as you know, budget preps usually start in February – the first quarter of the year when we release the budget call. And then after that, the agencies will submit their requests to us and then we hold a couple, a series of meetings with the departments and agencies for them to justify their budget proposals,” Pangandaman said.

She expects that the approval of the 2024 budget will be done faster than the previous year.

“Under the Constitution po, we should submit the national expenditures program one month after the SONA. On our calendar, we will submit our NEP to the Congress one week after the 24th (of July),” Pangandaman said.

She also underscored President Marcos Jr.’s directive to ensure that the 2024 budget will continue to support major programs prioritized in 2023.

These include education, infrastructure development, agriculture, livelihood programs, health, and digitalization.

MARCOS SAYS TO SIGN MAHARLIKA FUND BILL 'SOON'

MANILA — President Ferdinand Marcos Jr. on Thursday said he would sign the proposed law creating the Maharlika Investment Fund "soon" after it reaches his office.

The President said he would still need to look into the changes made in the Congress' approved version of the proposed sovereign wealth fund, which he said should be independent from government to become successful.

"I will sign it as soon as I get it," Marcos told Palace reporters in a chance interview.

"I think most of the changes that were proposed and eventually adopted really had to do with the safety and the security of people's pension funds," he said.

"If the bill comes before me, I will sign it but the secret to its success is who do we put in management. What is their experience? what is their reputation? What is their success rate?" he continued.

Marcos said the key for sovereign, pension, and hedge funds to flourish rested on those who handle them. Most of problems with these funds typically stemmed from managers, he said.

It is important that the Maharlika operates "as an independent fund," he said.

"The managers chose for it to happen, itong mga eskandalo na nakikita natin sa ibang lugar (these scandals that we see in other countries). On the other hand, we see examples of really successful funds and the... difference is the management," Marcos said.

"We have made sure that it is not a government, it is independent from government. One of the changes that even I proposed to the House is to remove the President as part of the Board, remove the Central Bank chairman, remove the Department of Finance," he said.

On Wednesday, Senate President Juan Miguel Zubiri signed the "corrected" version of the proposed Maharlika Investment Fund Act, which aimed to enable government to earn extra funds for infrastructure projects which could result in economic growth and poverty reduction.

ZUBIRI OKS 'CORRECTED' VERSION OF MAHARLIKA BILL

MANILA — Senate President Juan Miguel Zubiri on Wednesday signed the "corrected" version of the proposed Maharlika Investment Fund Act nearly a month after both houses of Congress approved the bill on final reading.

Zubiri signed the enrolled bill at the Philippine Embassy in Washington DC, where he was conducting a working visit.

The Maharlika bill is set to be sent to the House of Representatives for the signature of Speaker Martin Romualdez.

Once signed by both leaders, the bill will be sent to Malacañang for President Ferdinand Marcos, Jr.'s signature.

The Maharlika bill, certified as "urgent" by Marcos, got stalled in the Senate Secretariat due to conflicting provisions on the prescription period for crimes.

"The Maharlika bill is a priority measure, and the Estate Tax Amnesty Extension is very time-sensitive. Marami nang naghihintay sa mga bills na ito. Fortunately the enrolled copies were already prepared by the time Secretary Bantug was set to join us in Washington," Zubiri said.

Zubiri did not specify the corrections made on the bill.

"I believe the corrections were thoroughly discussed by the majority bloc in our Viber group including the letter of correction sent by Senator Mark Villar," he said in a message to reporters.

Aside from the Maharlika bill, Zubiri also signed the proposed Estate Tax Amnesty Extension Act, and a measure recognizing Baler, Aurora as the birthplace of Philippine surfing.

The Estate Tax Amnesty program has expired on June 14.

The bill’s amendment seeks to extend the period for another two years, or until June 14, 2025, Zubiri said.

SEC LAUNCHES NEW SERVICES IN DIGITALIZATION PUSH

MANILA — The Securities and Exchange Commission (SEC) on Thursday launched several e-services to boost its digitalization efforts.

During the celebration of its 85th anniversary, the SEC said its new digital services would boost ease of doing business and make company registration and monitoring easier.

SEC's new services include its Check App 2.0, SEC Universal Registration Environment (SECURE), Electronic SEC Education, Analysis, and Research Computing Hub (eSEARCH), and Electronic Registry Application for Market Participants (eRAMP).

The commission also launched its the SEC FARMS, a new registration system for companies in the agriculture sector to raise funds for particular projects.

In his speech, President Ferdinand Marcos, Jr. said SEC's digital reforms would make it easier for companies to comply with requirements.

"Your dedication to further improve the processes through innovations has enabled the SEC to employ a more modern, more efficient, and more secure approach in managing stakeholders and their data," Marcos said.

"I call on the good people that make up the SEC: Let us use all the successes to further promote ease of doing business and to actively contribute to our overall goal of bringing a comfortable life to our people," he said.

The SECURE platform acts as SEC's main hub for its services, which includes newly-launched applications.

SEARCH, meanwhile, will serve as an online research and discovery hub where the public can download authenticated SEC documents.

"With SEARCH, investment evaluation and vetting of contracting parties can be commenced in just a couple of minutes," the SEC read.

Another new service, eRAMP will allow capital market professionals and institutions to process their applications for registration, payment of annual fees, and other notification requirements.

MARCOS WARNS PH SOIL ‘UNDER THREAT’

President Ferdinand Marcos Jr. has called for increased collaboration among stakeholders to address soil neglect and its impact on national food security and livelihood. He highlighted soil degradation, acidification, and pollution as growing problems in the country, with around 75 percent of crop land vulnerable to erosion and agriculture losing approximately 457 million tons of soil annually. The conversion of lands for settlements and the loss of forest cover also contribute to soil degradation. About 11 million to 13 million hectares are considered degraded, and an additional 2.2 million hectares suffer from insufficient soil fertility. The President emphasized the importance of collaboration, sharing knowledge, and implementing sustainable practices to improve soil health and agricultural productivity while promoting environmental protection. The government has developed a five-point priority agenda on soil and water management, including the National Soil Health Program and Sustainable Land Management, to address soil use, land degradation, crop productivity, and farmers' income. The Bureau of Soil and Water Management, in collaboration with other relevant agencies, will be empowered to achieve these goals. The government is also working on soil mapping, water security measures, and initiatives to support farmers through cooperatives, technological advancements, and increased investments in the agriculture industry.

SENATORS GRILL LOCAL AIRLINES OVER 'SYSTEMIC' FLIGHT DELAYS, OTHER INCONVENIENCES

MANILA -- The Senate has initiated an investigation into the high number of complaints against local airlines in the Philippines. The probe focuses on issues such as overbooking, offloading, and booking glitches, with Cebu Pacific being specifically mentioned. Representatives from Philippine Airlines and Air Asia have also been invited to participate.

Senator Nancy Binay expressed concern about the consistent inconvenience faced by airline passengers and emphasized the need for better treatment. Senator Grace Poe acknowledged that overbooking is a common practice but criticized systematic delays and cancellations. She called on the Civil Aeronautics Board to determine if airlines are exceeding the allowable 5 percent overbooking limit and what penalties should be imposed.

Senator JV Ejercito shared a personal experience that affected his official engagement and emphasized the importance of addressing these issues for tourism and business. Senator Risa Hontiveros raised concerns about how flight inconveniences negatively impact the country's reputation as a tourist destination. The Department of Tourism expressed agreement with the senators and expressed optimism that the current issues can be resolved.

Cebu Pacific apologized for the inconvenience caused and attributed the problems to fleet availability issues and environmental factors. The company has taken steps to address the issues and assist affected passengers.

DE LIMA CO-ACCUSED ARRESTED 

MANILA— Inmate Jose Adrian Dera, co-accused in one of former senator Leila de Lima’s drug cases, was apprehended yesterday following an unauthorized rendezvous allegedly permitted by agents of the National Bureau of Investigation (NBI) where he is being held.

Dera reportedly snuck out of the NBI detention cell in Manila and was later discovered carrying firearms and cash.

Reports said six personnel of the NBI Security Management Division (SMD) assisted Dera in his “excursion” and allowed him to ride an NBI van on Tuesday night.

Authorities still have not figured out where he went and who he met up with.

“Dera was caught while entering the NBI last night. NBI agents were there waiting,” Mico Clavano, spokesman for the Department of Justice (DOJ), told reporters.

Earlier reports said Dera is the alleged bagman of suspended Negros Oriental Rep. Arnolfo Teves Jr., prompting speculations that his excursion was related to Teves’ murder case.

But Dera’s lawyer Ray Palad denied this.

A probe is underway to determine the circumstances regarding Dera’s supposed release from the NBI detention facility, the DOJ said.

The chief of the SMD has been dismissed following the incident.

MAYNILAD SECURES DOH PERMIT FOR DRINKING WATER FACILITY

MANILA— West zone concessionaire Maynilad Water Services Inc. has secured a permanent operational permit from the Department of Health (DOH) to produce drinking water from its treatment plant in Parañaque City.

The permit was granted to Maynilad’s treatment plant, which converts used water to drinking water, after eight months of stringent monitoring by the DOH Metro Manila Center for Health Development.

Based on the DOH’s monitoring, the treatment plant showed consistent adherence to the Philippine National Standards for Drinking Water (PNSDW), and strict compliance with requirements set forth in the implementing regulations of the Code on Sanitation of the Philippines.

“Our receipt of a permanent operational permit for the new water facility in Parañaque marks the start of our gradual expansion of direct potable water reuse applications in line with efforts to develop other sustainable sources of raw water supply,” Maynilad president and chief executive officer Ramoncito Fernandez said.

Fernandez said Maynilad’s Parañaque treatment plant receives treated used water from a sewage treatment plant and converts it into potable water that meets PNSDW.

This is the water company’s first implementation of potable water reuse in the Philippines, he said.

PNP STARTS SCREENING OF APPLICANTS FROM MILF, MNLF 

MANILA— The Philippine National Police has started screening applicants from the Moro Islamic Liberation Front (MILF) and Moro National Liberation Front (MNLF) who were endorsed by the Bangsamoro government to join the PNP.

At a press briefing at Camp Crame yesterday, PNP spokesperson Col. Jean Fajardo said 700 applicants from the MILF and 300 from the MNLF would undergo a battery of tests to determine if they are physically and mentally fit to become police officers.

Among the requirements is having the ideal body mass index. Fajardo said the applicants would also undergo agility test and psychological examination.

At least 7,145 MILF and MNLF members passed the qualifying examination to enter the police force last year.

The Bangsamoro government endorsed 1,000 since the quota of the PNP for this year’s recruitment is only 400.

Fajardo said 280 would be recruited from the MILF and 120 from the MNLF.

She said the other applicants who passed the exams may still be considered in the succeeding recruitment quota.

Once hired, Fajardo said the former rebels have to obtain a bachelor’s degree within 15 years for their appointment status in the PNP to become permanent.

Successful applicants will be assigned in the Bangsamoro Autonomous Region in Muslim Mindanao.

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GLOBE EXPANDS 5G NETWORK WITH 66 NEW SITES IN Q1 2023

MANILA — Globe Telecom said on Thursday it expanded its 5G network with 66 new sites in the first quarter of 2023 as it anticipated a rise in demand.

The new 5G sites were deployed across 74 cities in towns in the country, which brought its total 5G outdoor coverage to 97.21 percent in the National Capital Region and 90.28 percent in key cities in Visayas and Mindanao, Globe said in a statement.

In March, Globe said some 4.3 million devices logged onto its 5G network.

"Our investments on the mobile network have allowed us to maintain the excellent quality of our service to our customers. Globe continues to exert efforts to enable the lives of our customers with a network that they can fully rely on as we strive to provide them a consistent experience worthy of their patronage and loyalty," said Rebecca Eclipse, Globe’s Chief Customer Experience Officer and Head of Strategy Management.

Globe said Ookla's latest report showed that its 5G mobile network achieved a median download speed of up to 171.814 Mbps in Makati City, 159.298 Mbps in Cagayan de Oro City, 157.795 Mbps in Misamis Oriental and 99.916 Mbps in Zamboanga.

"Globe is committed to bringing 5G connectivity all over the country so Filipinos anywhere can have access to the same opportunities and services," added Eclipse.

5G offers fasters speeds, higher bandwidth and more stable connections.

YOUTUBE TAKES DOWN APOLLO QUIBOLOY'S CHANNEL OVER POLICY VIOLATIONS

MANILA — YouTube has suspended the official channel of religious leader Apollo Quiboloy, stating that it violated the platform's community guidelines. The decision came after a tweet from gaming YouTuber Mutahar, who raised concerns about Quiboloy's channel and cited the human trafficking cases filed against him in the United States. Quiboloy, the founder of the Kingdom of Jesus Christ (KOJC) based in Davao, had around 47,600 subscribers on his channel before it was taken down. Quiboloy's legal counsel stated that they did not yet have full possession of the facts regarding the suspension. In 2022, the FBI placed Quiboloy on its most wanted list for various charges, including sex trafficking of children, fraud, and conspiracy. The US Treasury Department also imposed sanctions on Quiboloy for alleged involvement in corruption and human rights abuses. Quiboloy responded to the accusations by comparing himself to biblical figures, referring to himself as a "modern Joseph" facing tribulations.

6 LENDING FIRMS CHARGED FOR HARASSING CLIENTS

MANILA— Six companies in Metro Manila and 30 of their affiliates were charged before the Department of Justice (DOJ) yesterday for allegedly harassing clients who cannot pay their debts.

The Securities and Exchange Commission (SEC) filed charges of violating the Lending Company Regulation Act of 2007 and Financial Products and Services Consumer Protection Act against FESL Lending Investor Corp., FESL BPO Services and Realm Shifters BPO Services and Philippine Microdot Financing Corp. in Pasig; U-Peso.ph Lending Corp. in Parañaque and Armorak Lending Inc. in Makati.

Last month, police implemented a search warrant on FESL and Realm Shifters over shaming clients on social media and death threats.

Lawyer Oliver Leonardo, SEC’s enforcement and investor protection director, said yesterday’s filing would be followed by more as the regulator has its eyes set on penalizing SEC-registered firms using unregistered online lending platforms.

Violators face a maximum of five years in prison and a maximum of P2 million in fines.

Leonardo called on citizens who experience abusive collection practices to file complaints with the SEC.

ENTERTAINMENT & LIFESTYLE

DINGDONG, MARIAN TO HEADLINE STAR CINEMA FILM 'REWIND'

The Senate has initiated an investigation into the high number of complaints against local airlines in the Philippines. The probe focuses on issues such as overbooking, offloading, and booking glitches, with Cebu Pacific being specifically mentioned. Representatives from Philippine Airlines and Air Asia have also been invited to participate. Senator Nancy Binay expressed concern about the consistent inconvenience faced by airline passengers and emphasized the need for better treatment. Senator Grace Poe acknowledged that overbooking is a common practice but criticized systematic delays and cancellations. She called on the Civil Aeronautics Board to determine if airlines are exceeding the allowable 5 percent overbooking limit and what penalties should be imposed. Senator JV Ejercito shared a personal experience that affected his official engagement and emphasized the importance of addressing these issues for tourism and business. Senator Risa Hontiveros raised concerns about how flight inconveniences negatively impact the country's reputation as a tourist destination. The Department of Tourism expressed agreement with the senators and expressed optimism that the current issues can be resolved. Cebu Pacific apologized for the inconvenience caused and attributed the problems to fleet availability issues and environmental factors. The company has taken steps to address the issues and assist affected passengers.

INDICATORS

FOREX $1 = P 55.64

THOUGHT FOR THE DAY

All progress occurs because people dare to be different. - Harry Millner