Over My Debt Body

HERKURT TAMBA

In a world full of stakes, risk is a defining variable that causes reward or loss at the end of every choice. What comes along in every decision-making process is the primordial function of risk-taking—how one manages his willingness to seize an opportunity with life’s volatility.

The recent controversy over the investment ploy of the current administration captured the keen eye of the general public. Probing the provisions of House Bill 6608 exposed substantial loopholes that leave questions about the proponent’s capacity to manage the risks at hand. Given the present economic status quo in the Philippines, a risk-based project without adequate planning and management is like dancing with the devil.

In the light of the Maharlika Investment Fund (MIF), the model was initially framed on the idea of a sovereign wealth fund, a state-owned investment fund consisting of governmentgenerated funds, typically drawn from a country’s excess reserves. With this in mind, magnifying the administration’s aspiration to establish an investmentdriven income radix laid bare some of the intriguing and vulnerable fundamentals that this pursuit stands on. One is the “surplus” concept, which caused tumult on its first presentation in the House, Sen. Pimentel elucidated that it’s messy and yet it’s so basic since the Philippines is burdened by its towering debt accounting for P13.6 trillion, a record high level as per the Bureau of the National Treasury, increasing by 0.02% or ₱3.15 billion from October to November last year. On a bright spot, BSP recorded a BOP surplus of $612 million in December 2022, compared to a deficit of $756 million in November and a surplus of $991 million in December 2021 (GMA News). Yet, this is just the tip of the iceberg; the surplus cannot offset the outstanding deficits recorded in prior months, as the full-year BOP position was at a deficit of $7.263 billion, reversing the surplus of $1.345 billion reported in 2021. To put it simply, the risk is getting riskier. In investing, the golden rule suggests that invest only what you can afford to lose. Looking at the Philippines’ financial state, the motherland is billions away from paying its credit obligations, and the country’s year-to-year debt pile is swelling further and bigger.

Despite the fact that we are still in the prologue of this massive undertaking, we are already sailing red. According to retired Justice Antonio Carpio, the Maharlika Investment Fund is a “losing proposition.” The fund’s annual return is anticipated to be between 7% and 8%, while the interest on its debt-funded equity, including operational expenditures, will be 8.9%. Moreover, Carpio pointed out that, before establishing the fund, he believes that it would be prudent for the government to lower the debt-to-GDP ratio from its current level of 64% to the pre-pandemic level of 40%. This means that the country is lagging behind in terms of improving its production forces; as a result, interventions and a sound economic framework should be preeminent in the government’s prioritization matrix.

In the first outline of the investment fund, funding and capitalization are provided to be pooled from Government Owned and Controlled Corporations (GOCCS) and Government Financial Institutions (GFIs) such as GSIS and SSS. This stipulation rolled out the red carpet for media groups, economists, and political circles to scrutinize the proposition of the authors as to why such an extent of financing is necessitated in the capital derivation. Conversely, Article III, Section 9 of the Constitution states that private property shall not be taken for public use without just compensation, so the mandate of the Maharlika Wealth Fund simply overlooks the rights of every Filipino who continues to toil and forage for a just living. The provocation took a positive note among the implementers, thereby excluding the two institutions from the probable fund sources as per the latest revisions of the House Bill. Accordingly, the public backlash dealt a heavy blow to the removal of the subjects, given that these state pension agencies are primarily reliant on premiums paid by their members. With this critical shortcoming emerging from the plan’s framing, it should be obvious that the government’s legislative body should take the pacing at the most resolute and decisive interventions, rather than hastening, because it would result in engendering multitudinal risks in monetary and fiscal policies.

Following the perplexity of this state-funded investment, there are also significant reversals that were identified to cause torsional effects on the Constitution. The attempt to utilize the gross international reserve of the BSP will override the established precedents and the central bank’s charter. At the same rate, the violation to the Dividend Law of 1993, the overturn of the one-fund concept, and moreover the lurches that will trigger the financial system of the country forcing the government to borrow to compensate for the loss in these times of volatile interest rates.

Clearly, MIF is an answer at the wrong time. Planning should be grounded in the needs of time, and leaders should be adaptive to the changes it brings. The ongoing economic distress: consumers are hurting from exorbitant prices; workers are losing ends to survive; the government is hampered by financial obligations; and, ultimately, Filipinos are living on the precipice of tomorrow’s uncertainty. We cannot risk more than we can make.

#PaSTILL pa rin sa UmaTangHap (Umagahan, Tanghalian, Hapunan)

ng reyalidad ang mga Pilipino patungkol sa patuloy na pagtaas ng mga bilihin. Ika nga nila, ginto na ang bawat nitong mga halaga. Dagdag pa, kung may isang libo ka lamang ang mapapaggastusan ay para itong isang bula

Ito ay isang nakapanlulumong katotohanan

Sa sampung piso ko ay may ulam at kanin na. Maliban sa abot-kayang halaga ay tunay ngang hindi ito tinipid sa lasa.

HANGGANG SAAN NGA BA AABOT natitira sa iyong

ANG SAMPUNG PISO KO?

Bilang isang Iskolar, saksi at dama ko kung gaano kamahal ang mga bilihin lalo pa’t pagkakasyahin ko ang aking baong limang daan sa isang linggo. Higit pa sa sampung pisong barya ko ay mabubusog na ako! Tanong ng mga kaibigan ko, ano nga ba ang nabibili ko dito.

Pastil! Pastil lamang!

Ito ang naging kasagutan ko sa kanila. Sa sampung piso ko ay may ulam at kanin na. Maliban sa abotkayang halaga ay tunay ngang hindi ito tinipid sa lasa.

SA AMING MAGIGING BAGONG KAINAN!

“Nagbalon kamo?”

“Wala ba.”

“Ta Pastil ta!”

Ito na ang naging bukambibig ng aking mga kaklase tuwing kami ay kakain na ng tanghalian.

“Diin ta?”

“Tanghal o ASSSA?

“Sa engineering naman ta a!”

Natutulala! Nakatunganga!

Ilang minuto pa ang aming pagtatalo bago makapag desisyon kung saan nga ba kami dadalhin ng aming pagkagutom.

“Ta sa Engineering na lang ta.”

“Dalian niyo na!”

“Arat!”

Sa wakas at mapapawi na rin ang gutom na aming nararamdaman. Salamat at sa huli ay nasolusyonan na rin ang aming pagtatalo kung saan ba kami mapaparoon.

Ayon nga!

Pagkarating sa Engineering, isa-isa nang bumili ang aking mga kasamahan. Kanya-kanya rin sila sa pagpili ng toppings. Mayroong pumili ng chicken flavor mayroon ding tuna flavor habang ako ay nagiisip pa rin kung anong toppings ng pastil ang aking bibilhin.

“Pastil Ante, chicken flavor lang.” Banggit ko sa tindera. “Tagpila Te?” Tanong ko. “Sampung piso lang ga.” Sagot ni Ate.

“Ari bayad ko Te oh!” Pasaad ko. Bago ako umupo sa aming pwesto, tinanong ko ulit si Ate na itago na lang natin sa pangalang Marie. “Te ngaa ginabalikbalikan gid sang mga estudyante ang imo pastil biskan ano pa kalayo ang ila baktason?”

“Depende sa pagluto Ga at kanya-kanya na itong diskarte kung paano namin mas mapapasarap ang aming Pastil dahil alam mo naman marami kaming magkakompetinsya sa ganitong uri ng negosyo. Kung wala ka talagang ideya kung paano mapapaangat ang iyong binibenta talagang wala kang costumer.” Sagot at pagpapaliwanag ni Ate. Ako ay napangiti na lamang at pumunta na sa pwesto ng aking mga kasamahan.

“Mars, kaon na namit man gid diri ang ila Pastil, damo toppings kag barato pa gid. Hindi gid siya gitipid ba.” pangyaya ng kaibigan ko. “Ay bus-ok man gid Mars kag namit man gid gali. Lain gid siya sa iban nga pastil nga natilawan ko. Bet ko siya. Daw diri na ta pirme magkaon haw.” Kalma kung pagsasang-ayon. Pagkatapos naming kumain ay agad na kaming nagsipagtayo upang umalis.

“BALIK-BALIK LANG KAMO!

Ito ang mga katagang aming narining mula kay ate Marie bago kami umalis. “Mabalik gid kami liwat di te ah!”, ang naging tugon ng aking kaibigan.

Habang kami ay naglalakad patuloy pa rin ang aming kwentuhan tungkol sa pastil na aming natikman. Ngunit sa bawat kwento ng pastil ay may mga katanungan kung paano ba ito ginagawa o ano nga ba ang proseso sa paggawa nito.

#PASTIL PASTIL: PAANO KA GINAWA?

Paano nga ba?

Ang pastil ay isang kilalang pagkain ng mga Pilipino. Ito ay gawa sa tinimplahang adobong durog na manok o isda kagaya ng tuna na hinahalo sa kanin at binabalot sa dahon ng saging.

“Ta kaon na ta!” Pangyaya na ng aking kasamahan.

“Dali na, sa engineering ta liwat a.” At ayon nga, sumang-ayon ang lahat na babalik na naman kami kina ilang Marie.

Sa muli naming pagkain doon, hindi ko sasayangin ang pagkakataon na siya ay tanungin kung paano ba nila ginagawa ang pastil kung kaya’t ganon na lang ‘yon kasarap at kalinamnam.

Pagkarating sa Engineering, aming nadatnan

Pagkalipas ng ilang minuto, sa wakas nakabili na rin kami.

“Ante, pwede mamangkot?” Tanong ko sa kanya habang siya ay abalang-abala. “Ano to ga?” Sagot niya. “Mahimo abi ko article te about sa pastil, kung di kana busy Te ah mamangkot man lang ko kung paano mo ginaluto ang imo nga pastil.” “Pwede naman ngayon ga, ito man lang ang aking gingawa.” Kalmado niyang pagsagot.

“Paano gali te?” Aking pagtatanong. “ Ang una kong ginagawa ay magluto muna ng kanin at ito ay nilalagyan ko ng pandan. Pagkatapos ay isasantabi ko muna ang kanin at niluluto ko na ang toppings. Kung karne ng manok ang magiging topping pinakukuluan ko muna ito pagkatapos makuluan ay hihiblain na at ito ay igigisa sa bawang, sibuyas at luya. Para mas maging masarap ay dinadagdagan ko ito ng pampalasa kagaya ng tuyo at patis.” Pagpapaliwanag ni Ate Marie.

“Ay amo gali na sekreto mo te ba ngaa kanamit kag ginabalikan gid ang imo nga pastil diri” “Oo ga, dapat may halong pagmamahal sa pagluluto.” Pabirong sagot ni Ate Marie habang nakangiti.

PAKIKIPAGLAYAG SA KATOTOHANAN!

Pastil sa umaga, pastil sa tanghali, pastil sa hapunan!

Ito ang katotohanang araw-araw na hinaharap ng mga MSUan na katulad ko. Patuloy na nakikipagpatintero sa reyalidad na kahit pastil lamang ang magiging umagahan, tanghalian at hapunan ay okay na basta mabusog lamang sa halagang sampung piso.

Pastil lamang ang malakas!

Sa katunayan, masasarap ang pastil na binibenta sa loob ng Pamantasan sa iba’t ibang kolehiyo. Sari-saring lasa ang matitikman kaya tunay ngang sa sampung piso mo ay mabubusog kana at mapapasabi na lamang na #socrazypastil.