MARCOS SIGNS LAW CONDONING P57-BILLION DEBT OF AGRARIAN REFORM BENEFICIARIES

MANILA — President Ferdinand Marcos, Jr. on Friday signed a law that would write off agrarian reform beneficiaries’ debt worth around P57.557 billion.

The New Agrarian Emancipation Act, which was among Marcos’ promises in his first State of the Nation Address last year, condoned the amortization of principal payments, interests, and penalties of 610,054 agrarian reform beneficiaries tilling 1.173 million hectares of land.

The President, who is concurrently the agriculture chief, said a “genuine agrarian emancipation” required more than the distribution of land, which he said was just the first step.

"Ituloy natin ang repormang agraryo hindi lamang sa pamimigay ng lupa at sa mga magsasakang hanggang ngayon ay wala pa ring lupa, kung hindi upang tuluyan na sila ay palayain mula sa pagkakautang na pumipigil sa ganap na pagmamay-ari sa lupang pagbibigay sa kanila ng pamahalaan," Marcos Jr said in his speech.

“Free land distribution must go hand in hand with broadening the provision of credit facilities and support services in the form of farm inputs, equipment, and facilities for our farmers as well as the construction of more farm-to-market roads,” he added.

Marcos said this would yield more sustainable farms and higher income for farmers.

The new law covers farmers and farm workers who received lands under Presidential Decree No. 27 and "who have outstanding loan balances payable to the Land Bank of the Philippines and to private landowners.”

The measure condoned the principal loan of P14.5 billion, which includes interests, penalties, and surcharges, of 263,622 beneficiaries whose names were already submitted by the Land Bank of the Philippines to Congress.

"However, the inclusion of the remaining P43.057 billion loan in this section shall take effect only upon submission by the Land Bank of the Philippines and the Department of Agrarian Reform (DAR) of the indebtedness to government of the 346,432 [beneficiaries],” the law stated.

"The land awarded to [beneficiaries] shall be excluded from his/her gross estate for purposes of estate tax," it added.

Under current laws, agrarian reform beneficiaries are required to pay for the land awarded to them in annual installments with 6 percent interest for a maximum period of 30 years.

PH JOBLESS RATE FALLS FURTHER TO 4.3 PERCENT IN MAY

The Philippines' unemployment rate dropped to 4.3 percent in May, marking the second lowest rate since April 2005, according to the Philippine Statistics Authority. This figure is lower than the 4.5 percent unemployment rate in April and the 6 percent rate recorded in May 2022. The number of unemployed Filipinos in May stood at 2.17 million, down from 2.26 million in April and 2.93 million in May 2022. Additionally, the underemployment rate decreased to 11.7 percent in May from 12.9 percent in April. Wage and salary workers constituted the largest portion of employed individuals, accounting for 60.5 percent in May, followed by self-employed workers at 28.1 percent and unpaid family workers at 9.2 percent. In terms of employment by sector, employees in private establishments made up 46.5 percent of the total, while employees in government or government-controlled corporations comprised 8.8 percent. The Philippines' economy experienced 6.4 percent growth in the first quarter, and inflation eased for the fifth consecutive month, settling at 5.4 percent in June. The government aims to sustain labor market gains by implementing reforms to enhance the country's business investment climate.

PBBM: STRENGTHEN FIGHT VS. DIRTY MONEY

President Ferdinand Marcos Jr. on Thursday tasked all government offices and departments to carry out a new strategy to contain money laundering, terrorism financing and proliferation financing as part of efforts to ensure that the country exits the Financial Action Task Force (FATF) grey list.

The grey list consists of countries that are actively working with the FATF to address the strategic deficiencies in their regimes to counter money laundering, terrorist financing and proliferation financing.

Mr. Marcos, through Executive Order No. 33, directed all government agencies and local government units to adopt the National Anti-Money Laundering, Counter-Terrorism Financing, and Counter Proliferation Financing Strategy (NACS) 2023-2027.

“This is part of the government’s efforts to move the Philippines out of the grey list of the FATF’s ‘Jurisdictions Under Increased Monitoring’ of countries that failed to show tangible and positive progress in addressing all key recommended actions in the Third Mutual Evaluation Report (MER),” the EO said.

The EO said the strategy will ensure that the country exits the FATF grey list.

Additionally, it will also allow the Philippines to address the International Cooperation Review Group.

“Given the expiration of the NACS for 2018-2022 under EO No. 68, s. 2018, it was imperative to adopt a new national strategy for 2023-2028,” the Palace said.

The new strategy creates an additional sub-committee on proliferation financing, which is defined by the FATF as the provision of funds or financial services used for the manufacture, acquisition, possession, development, export, trans-shipment, brokering, transport, transfer, stockpiling or use of nuclear, chemical or biological weapons and their means of delivery.

CHINESE VESSELS SWARM IROQUOIS REEF, SABINA SHOAL: MILITARY

Philippine military patrols have spotted more Chinese vessels in the West Philippine Sea last week including 48 Chinese fishing vessels swarming Iroquois Reef and 5 Chinese Coast Guard and People's Liberation Army Navy vessels near Sabina Shoal.

Pilots aboard NV312, a Britten Norman Islander light patrol aircraft of the Philippine Navy, spotted the Chinese fishing vessels during multiple flights over Iroquois Reef, located south of the oil and gas-rich Recto Bank in the West Philippine Sea.

The latest air patrol was conducted on June 30, 2023.

Lieutenant Edgard Abogado, pilot-in-command of NV312, said the swarm of Chinese fishing vessels [was] "quite visible from the air."

Lieutenant Karla Andres, co-pilot of NV312, said the Chinese fishing vessels were anchored in groups of five to seven "and no fishing activities were noticed. They seem to just loiter in the area."

DANGEROUS MANEUVERS? CHINA SAYS ITS COAST GUARD 'PROFESSIONAL, RESTRAINED' IN AYUNGIN

MANILA — China on Thursday said its coast guard had been “professional and restrained” in the West Philippine Sea, despite the Philippines’ recent accusation that it carried out dangerous maneuvers in the area.

The Philippine Coast Guard (PCG) this week said two of its vessels were shadowed and blocked near Ayungin Shoal by Chinese ships, which also issued radio challenges.

But Chinese Foreign Ministry Spokesperson Wang Wenbin insisted that Ayungin, which Beijing calls Ren’ai Reef, “is part of China’s Nansha Islands.” The PCG, he said, “intruded” into the area “without Chinese permission.”

“In accordance with the law, the Chinese Coast Guard vessel carried out law enforcement activities to uphold China’s territorial sovereignty and maritime order. The Chinese side’s maneuvers were professional and restrained,” he said in a press conference.

Washington is “concerned by the unprofessional maneuvers” of the China Coast Guard, US Ambassador to the Philippines MaryKay Carlson said on Friday.

“The PRC’s (People's Republic of China) irresponsible behavior in the South China Sea threatens the security and legal rights of our treaty ally, the Philippines,” Carlson said on Twitter.

“We call on the PRC to comply with international law, including implementing the legally binding 2016 award in the Philippines v. China Law of the Sea Convention arbitration as a starting point to achieve a #FreeAndOpenIndoPacific,” she said.

US CALLS OUT CHINA FOR 'IRRESPONSIBLE' BEHAVIOR VS PHILIPPINE VESSELS IN AYUNGIN SHOAL

MANILA — Officials from the United States government have rushed to call out the alleged harassment of Chinese vessels against Philippine vessels that were on a support mission to Ayungin Shoal in the West Philippine Sea.

United States Secretary of Defense Lloyd Austin III said Thursday that China exhibited "coercive and risky operational behavior against Philippine vessels operating safely and lawfully in the South China Sea, including around Second Thomas Shoal (Ayungin Shoal)."

Similarly, the US Ambassador to the Philippines MaryKay Carlson expressed concern over the "unprofessional maneuvers" of the Chinese Coast Guard against the Philippine Coast Guard. "The PRC's irresponsible behavior in the South China Sea threatens the security and legal rights of our treaty ally, the Philippines."

In a call with Defense Secretary Gilbert Teodoro Jr., Austin renewed the United States' commitment to the Philippines and reiterated that the "Mutual Defense Treaty" extends to all Philippine troops — including the Coast Guard — in the Pacific and "anywhere in the South China Sea."

“The Secretaries reaffirmed their commitment to upholding the rules-based order and supporting the livelihoods of local Philippine communities and other claimant states that seek to conduct lawful maritime activities in the South China Sea, consistent with the 2016 Arbitral Tribunal Ruling,” Austin added.

Chinese Foreign Ministry spokesperson Wang Wenbin has said that the maneuvers of their vessels were "professional and restrained," disagreeing with the PCG's account of what took place in the area of the disputed reefs.

PBBM HAILS FUEL CONTRACTS FOR BARMM

The Department of Energy (DOE) and the Ministry of Environment, Natural Resources and Energy of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) have signed an intergovernmental energy board (IEB) circular to jointly grant rights and concessions for the exploration, development, and utilization of uranium, petroleum, natural gas, and coal within the BARMM's jurisdiction. This circular operationalizes a provision in the Organic Law for the Bangsamoro Autonomous Region. The initiative aims to facilitate the growth of the energy sector, attract foreign investments, and promote development in the region. The circular outlines the application process, requirements, procedures, and standards for companies seeking to apply for and operate contracts for petroleum and coal exploration and development. It allows local and foreign individuals, companies, and joint ventures to apply for petroleum contracts, while coal contracts require corporations or partnerships with at least 60 percent Filipino-owned capital. The signing of this circular signifies the commitment of the Philippine government and the BARMM to work together in sustaining the dividends of the peace process and promoting progress in Mindanao.

LEDESMA NAMED PHILHEALTH CHIEF

President Ferdinand Marcos Jr. has appointed Emmanuel Rufino Ledesma Jr. as president and chief executive officer (CEO) of the Philippine Health Insurance Corporation (PhilHealth).

Ledesma, who was named acting PhilHealth chief in November, will also serve as a member of the agency’s expert panel and board of directors.

He was formerly president and CEO of the state-run Power Sector Assets and

Liabilities Management Corp. (PSALM).

The President also designated Col. Jose Luntok as commander of the Light

Reaction Regiment, the premier counterterrorism unit of the Philippine Army.

He likewise appointed Khay Ann Magundayao-Borlado as deputy executive director of the Philippine Commission on Women (PCW), the primary policymaking and coordinating body on women and gender equality concerns.

Mr. Marcos likewise named David Erro as a member of the Land Bank of the Philippines’ board of directors, representing the agrarian reform beneficiaries.

Based on the new list of presidential appointees, the Director III post will be assumed by Mathias Malenab (Department of Public Works and Highways), Bonifacio Pajuelas (Philippine Atmospheric, Geophysical and Astronomical Services Administration), and Reinalyne Varias (Department of Justice’s Office for Alternative Dispute Resolution).

Mr. Marcos also appointed Romeo Allan Rosales as Bureau of Customs’ Collector IV.

ADDITIONAL P100 BILLION REVENUE SEEN FROM DIGITAL TRANSACTION TAX

MANILA — The Department of Finance (DOF) in the Philippines expects to generate nearly P100 billion in revenue through the proposed value-added tax (VAT) on digital transactions. The imposition of a 12 percent VAT on digital service providers could generate an additional P96.72 billion over the next five years. The aim is to level the playing field between traditional and digital businesses and clarify the VAT treatment of digital service providers. The VAT proposal is currently being deliberated by the Senate. The DOF estimates assume a 50 percent collection efficiency in the first year of implementation and improved collection rates in subsequent years. The tax system in the country currently does not cover the digital economy, and the proposed VAT seeks to capture revenue from digital transactions and services. Neighboring Asian countries have also updated their tax frameworks for digital transactions.

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80 PCT OF FILIPINOS HAVE LITTLE TO NO KNOWLEDGE ABOUT MAHARLIKA FUND: SWS

Public opinion is split about the Maharlika Investment Fund, with 80 percent of Filipinos having little to no knowledge about the sovereign wealth fund, a Social Weather Stations survey showed.

The March 26-29, 2023 survey showed that 20% of adult Filipinos said they have at least partial but sufficient knowledge about the Maharlika Wealth Fund, consisting of 5% who said they have extensive knowledge and 15% partial but sufficient knowledge.

"On the other hand, 33% said they have only a little knowledge about the MWF, while the plurality 47% said they have almost no knowledge or no knowledge at all," SWS said.

The percentage of those with at least partial but sufficient knowledge about the MWF was higher in Metro Manila at 29% (7% extensive and 22% partial but sufficient) and Balance Luzon at 24% (5% extensive and 19% partial but sufficient) than in the Visayas at 14% (5% extensive and 9% partial but sufficient) and Mindanao at 10% (3% extensive and 7% partial but sufficient).

The survey showed 51% of Filipinos surveyed expect little or no benefit from the MWF (consisting of 37% little benefit and 14% almost no benefit at all), while 46% expect much benefit from it.

Thirty-one percent of those surveyed said they have much confidence the fund will not fall to corruption once approved by Congress compared to 38% undecided, and 29% saying they have little confidence.

The Maharlika fund will have an initial capital of P500 billion from the central bank, gaming revenues, and 2 government-owned banks.

The First Quarter 2023 Social Weather Survey was conducted from March 26-29, 2023, using face-to-face interviews of 1,200 adults (18 years old and above) nationwide: 300 each in Metro Manila, Balance Luzon, Visayas, and Mindanao. The sampling error margins are ±2.8% for national percentages, ±5.7% each for Metro Manila, Balance Luzon, Visayas, and Mindanao.

WW2 BOMB NATAGPUAN SA BAR SA KATIPUNAN AVENUE

MAYNILA - Nagkaroon ng komosyon sa isang kilalang inuman sa Katipunan Avenue sa Quezon City nang matagpuan ang isang World War 2 bomb sa katabing pwesto doon.

Base sa imbestigasyon ng QCPD Station 9, isang maintenance staff ng establisimyento ang nakakita sa diumano’y 81 millimeter vintage mortar habang nililinis ang loob ng inuman, bandang alas singko ng hapon.

Kwento ng isang security guard, matagal nang nakasara ang bar at pinalinis lamang ng may-ari dahil may bago nang uupa sa pwesto.

Agad ipinaalam ng maintenance staff ang natagpuang bomba sa mga security guard.

Kinagabihan o bandang 9:10 ng gabi na nai-report sa QCPD Station 9 ang insidente.

Pansamantalang kinordon ng mga awtoridad ang lugar at pinalabas sa parking lot ang mga costumer habang nagsagawa ng ocular inspection ang pulisya.

Dumating naman bandang 9:22 ng gabi ang mga elemento ng District Explosive Ordnance Disposal Canine Unit ng QCPD para i-retrieve ang naturang bomba.

Matapos ang ilang minuto ay pinabalik na rin sa loob ang mga tao.

Ire-review pa ng mga pulis ang cctv sa lugar para malaman kung saan nanggaling ang vintage bomb at kung sino ang nagpasok nito sa bar.

ALL AIRLINES GUILTY OF FLIGHT DELAYS, CANCELLATIONS —GROUP

MANILA — United Filipino Global (UFG) president Gemma Sotto said that all local and international airline companies are guilty of inducing flight delays and cancelations on Overseas Filipino Workers (OFW).

The group, composed of Filipino civic groups, is an advocate for the welfare of OFWs. Sotto, a former OFW before heading the international alliance, stressed that one airline should not be singled out.

She also encouraged the media to "put things in proper perspective" by recognizing the inadequacies of all airlines amid appeals to investigate budget carrier Cebu Pacific for severe delays and cancellations reported by passengers.

"The trip from the province is delayed for hours. Upon reaching Manila, the connecting flight to the Middle East in another airline is also delayed. It's a long trip; two different airlines both have their flights delayed," Sotto said in Filipino in a release.

A lawmaker has already filed a resolution seeking to suspend the franchise of Cebu Pacific while other House members called for a probe into the complaints of Cebu Pacific passengers inconvenienced by recent incidents of overbooking, offloading and online booking glitches.

Cebu Pacific in a Senate inquiry last month explained that the flight issues were caused by lack of supply, ground damage, and Red Lightning Alerts over the rainy season. Some aircraft are unable to operate.

To alleviate the issue, the budget airline said that it has deployed more staff to assist customers, reduced scheduled flights, and increased aircraft on standby to prevent delays and cancellations.

The budget carrier also vowed to address the website design issue it has been experiencing.

SPORTS

GIANNIS DOUBTFUL FOR WC 

MANILA — Will Filipino fans get to see the “Greek Freak” in action in the FIBA World Cup on local soil?

Greece top gun Giannis Antetokounmpo’s participation in the global hoopfest set Aug. 25 to Sept. 10 in Manila was put in question with the two-time NBA MVP recovering from a recent arthroscopy on his left knee.

Antetokounmpo underwent a cleanup procedure on his knee two weeks ago and is uncertain for Greece’s FIBA World Cup play this summer.

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THOUGHT FOR THE DAY

Happiness is mostly a byproduct of doing what makes us feel fulfilled. - Benjamin Spock