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Thursday 18, 2014 Vol.14, 10 No. 40 Monday, December 2015 Vol. 11 No. 67

PHL readies rollout of ‘massive’ socialized housing project GLOBE NEEDS 20 MHz OF UNUSED 700-MHz BAND T

By Jovee Marie N. dela Cruz

he government is set to tap the private sector to implement the biggest public-private partnership (PPP) housing project and wipe out the 5.5-million housing backlog, the chairman of the House Committee on Housing and Urban Development said on Sunday.

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Rep. Alfredo Benitez of the Third District of Negros Occidental, chairman of the panel, said the PPP project will be done after all national government agencies, including government-

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owned and -controlled corporations (GOCCs), have submitted their inventory of their respective idle lands before the end of the year.

Malacañang has directed the

concerned government agencies and GOCCs, through Memorandum Circular (MC) 87, to submit an inventory of their respective idle lands before the year ends for them to identify lands and sites for socialized housing.

Benitez said the PPP for housing will involve the construction of four- to five-story buildings in 15 areas in Metro Manila.

“Because of lack of space in Metro Manila, we are proposing the construction of medium-rise buildings with 100,000 to 150,000 units. However, to do this, we need government lands, that’s why the Palace is directing government agencies to submit an inventory of their respective idle lands,” he said.

According to Benitez, several families from low- and middle-income earners

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LOBE Telecom Inc. is seeking to acquire just a fifth of the frequency band currently held by San Miguel Corp. to improve the quality of Internet service within its network.

Ernest L. Cu, the company president, said his group’s fair share of the 700-megahertz (MHz) frequency band—

dubbed as a digital dividend— should be at least 20 MHz. This will allow the company to provide better Internet services to some 50 million customers in the Philippines.

“Ideally, each telco should be allowed around 20 MHz of that spectrum up and down, because it’s really important Continued on A12

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Social mediA, the new megaphone for violent perpetrators

perspective

e4 An activist holds a poster during a demonstration near the Eiffel Tower in Paris on Saturday during the 21st Conference of Parties, the United Nations Climate Change Conference. As organizers of the Paris climate talks presented what they hope is a final draft of the accord, protesters from environmental and human-rights groups gather to call attention to populations threatened by rising seas and increasing droughts and floods. AP/Thibault Camus

Palace vows to fulfill COP21 commitments

By Butch Fernandez

M

alacanañg on Sunday vowed to carry out Philippine commitments forged with other countries in the recent 21st Conference of Parties (COP21) in Paris meant to avert a disastrous spike in global warming.

“The Philippines will fulfill its Intended Nationally Determined Contribution [INDC], committing to reduce greenhouse-gas emissions conditionally by 70 percent by 2030, in solidarity with other nations that will provide support in terms of finance, technology and capacity building,” Communications Operations

PESO exchange rates n US 47.1820

Secretary Herminio B. Coloma Jr. said.

Reading a Palace statement on the conclusion of the COP21 Paris agreement over state-run radio, Coloma also reaffirmed the Aquino administration’s determination to “continually engage our people in the spirit of bayanihan to work together in building disaster-resilient communities.”

According to Coloma, the Philippines welcomed the Paris agreement as it responds to Mr. Aquino’s call at the start of COP21, where he chaired the Climate Vulnerable Forum.

At the international conference, Coloma recalled President Aquino airing a plea “for all people to act and Continued on A2

n japan 0.3880 n UK 71.5468 n HK 6.0877 n CHINA 7.3289 n singapore 33.6222 n australia 34.4721 n EU 51.6218 n SAUDI arabia 12.5778

Source: BSP (11 December 2015)

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Palace vows to fulfill COP21 commitments. . .

Continued from A1

come to an agreement that allows all voices to be heard and takes into consideration the particular situations of all the nations that have taken this historic step to end decades of deadlock and take decisive climate-change action.”

The Palace official said this broad-based agreement, as reported by the Philippine delegation, was reached by 195 countries, after almost two weeks of painstaking consensus building and convergence around five major points, namely, a global temperature goal of 1.5 degrees; the inclusion of human rights as its bedrock principle; the emphasis on ecosystem integrity; the commitment of support in finance, technology and capacity building for all adaptation and mitigation efforts; and the inclusion of a loss and damage article that would ensure the recovery, restoration and resilience of communities, livelihoods and ecosystems.

Coloma added that the Paris agreement also addresses the situation of climate vulnerable countries

like the Philippines that “bear the heaviest albeit a most disproportionate share of the burden of climate change in terms of assuring the conveyance of resources that will fully support adaptation and mitigation efforts.”

Targets outlined in the agreement on Saturday, involving 195 countries, will require $16.5 trillion of spending on renewables and efficiency through 2030, according to the International Energy Agency (IEA). To accomplish that, governments will have to offer incentives for clean energy production, scale back support for fossil fuels like oil, make emissions more costly and reduce deforestation.

The changes will touch industries from transport to construction, and encourage people to change their behavior.

“The strength of the agreement is that it allows a thousand policy flowers to bloom,” Paul Bledsoe, a climate aide during US President Bill Clinton’s administration, said in an interview in Paris, where the deal was sealed.

“This sends a powerful economic

signal that fossil fuels will be saddled with financial and legal premiums to remain part of the energy mix, and clean energy will enjoy subsidies.”

The deal aims to limit the global temperature increase since the Industrial Revolution of the 18th and 19th centuries to 2 degrees Celsius (3.6 degrees Fahrenheit), while calling on nations to “pursue efforts to limit the temperature increase to 1.5 degrees.” That more ambitious goal implies vast cuts to emissions from burning fossil fuels.

“Politically as well as technologically, this is no walk in the park,” said Ottmar Edenhofer, chief economist at the Potsdam Institute for Climate Impact Research Institute near Berlin, and a lead author of the UN’s most rigorous assessment of climate economics. The target may trigger “a fundamental shift of investments toward renewables, energy efficiency, and carbon capture and storage,” he said.

Tree planting

Policies such as carbon pricing through markets or taxes, and

planting trees while burning biomass rather than fossil fuels, will also be needed, and in a 1.5-degree scenario, they’ll need to be stepped up, Edenhofer said.

Pledges to limit carbon from 187 nations aren’t yet enough to hold to a 2-degree pathway, let alone 1.5 degrees, according to researchers at the Climate Action Tracker, a group of four European institutions, who estimate the measures will cap the rise at 2.7 degrees.

While those changes would be small for a single day, applied to the world they mark a shift in the climate that’s quicker than the one that ended the last ice age.

That would mean “high risks by climate extremes, commitment to multimeter sea-level rise and detrimental impacts for global agriculture and food security,” said Bill Hare, chief executive officer of Climate Analytics, a Berlin-based research group. “It would also lead to complete loss of coral reefs and serious impacts on water resources in many regions.”

With a report from Bloomberg News

PHL readies rollout of ‘massive’ socialized housing project. . .

will benefit from the government’s biggest housing project.

The PPP plan is the initial result of the ongoing National Housing Summit conducted this year by the committee in partnership with the Senate Committee on Urban

Planning and Shelter and Resettlement.

Malacanang’s issuance of MC 87 was also prompted by the findings made during the summit, which seeks to identify immediate solutions to the increasing number of informal settlers in urban centers, and to ensure

the availability of lands for socialized housing. Under the MC, the Department of the Interior and Local Government, through the local government units, shall conduct an inventory of government-owned idle lands in urban centers in their respective

NORTHEAST MONSOON AFFECTING NORTHERN LUZON SEVERE TROPICAL STORM “NONA” 605 KM EAST OF BORONGAN, EASTERN SAMAR (DECEMBER 13, 5:00 AM)

Budget. . .

Continued from A12

“We still have time to pass this bill next year after resuming from Christmas break,” Gonzales said.

Nationalist People’s Coalition Rep. Rodolfo T. Albano III of Isabela, meanwhile, expressed conviction that Congress will pass the BBL before the President Aquino leaves his post by next year.

“Let us give peace a chance. This is the opportune time for Congress to pass this peace measure, which has been a product of hard work not only by legislators but also of a peace panel made up of experts from multisector groups and civil-society leaders who worked hard to provide invaluable inputs to make sure that the proposed peace pact would reflect and respond to the demands for peace and development in strife-torn Mindanao,” Albano said.

Albano also renewed his appeal to fellow legislators to diligently and religiously attend the remaining session days of the 16th Congress, which will end in June 2016 to pass significant pieces of legislation such as the BBL. “We have done so much to allow peace measure to reach the final stage of legislation. All that the BBL needs is one final push that will bring hope for a lasting peace in Mindanao. We are a bit closer to have this passed into law, and so I urge my fellow legislators to join hands, cooperate and fulfill their constitutional duty passing the BBL,” Albano said.

Meanwhile, Gonzales also vowed to ratify the measure seeking to exempt

persons with disabilities (PWDs) from the payment of 12-percent value-added tax (VAT) on certain goods and services this week. He, however, said the bicameral conference committee should finish its report on the measure first for them to ratify the bill this week.

“We are committed to ratify this very noble measure to help the plight of our PWDs. We will be awaiting their bicameral report on this measure so that we can ratify and send this to Malacañang for the President’s signature,” Gonzales added. Lakas Rep. Martin Romualdez of Leyte, author of the bill, appealed to the House and Senate leaders to immediately approve the bicameral conference committee report. “The Aquino government and Congress leaders can further show its care and compassion to PWDs by finally approving the bill upholding the rights and promotes the welfare of PWDs in the country,” he said.

The proposed VAT exemption shall apply on the medical and dental services; purchase of medicines in all drugstores; public railways, skyways and bus fare; admission fees charged by theaters, cinema houses, concert halls, circuses, carnivals and other places of culture, leisure and amusement; and all services in hotels and similar lodging establishments, restaurants and recreation centers.This will be on top of the 20 percent discount they were entitled to on particular goods and services.

Jovee Marie N. Dela Cruz

Continued from A1

territories.The Chamber of Real Estate and Builders Association (Creba) placed the housing backlog in the Philippines at 5.5 million.

Creba said the annual production of housing is less than 100,000 units a year.

Citing a study conducted by the Univer-

sity of Asia and the Pacific, nonprofit organization Habitat for Humanity Philippines warned that the housing backlog in the country will likely increase to 6.5 million by 2030 if “drastic” measures are not implemented to address the problem.

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Comelec to determine order of party-list groups in ballot

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HE Commission on Elections (Comelec) is set to raffle on December 14 to determine the order of listing of party-list organizations, as it would appear in the official ballots for the May 2016 national and local elections.

Based on the Comelec Resolution 10025, a total of 185 party-list groups—including those that have been approved by the commission and those that were denied by a division, but have filed an appeal before the en banc—will be included in the raffle.

A total of 101 party-list groups that were approved by the Comelec are in the raffle.

Comelec Chairman Andres D. Bautista, the commission will hold the raffle by using a tambiolo and numbered balls just like in the last

elections. The raffle system was first held in 2013 in lieu of the alphabetical listing in the official ballot of party-list groups.

The move was aimed at discouraging party-list groups from using the first letters of the alphabet or the number “1” in their names.

Party-list groups, organizations and coalitions that will be included in the raffle are led by the 1st Consumers Alliance for Rural Energy Inc. and ending with the You Against Corruption and Poverty.

Among those with pending appeal

but will still be included in the raffle are led by the 1st Kabagis Inc. The Bagong Alyansa ng Manggagawang Pangtranportasyon Para sa Edukasyon at Reporma Inc. is at the last of this list. In addition, eight more groups may still be included in the raffle, but are still “subject to the resolution” of their respective cases by the Comelec.

“The party-list groups, organizations and coalitions shall be included in the publication, but their inclusion in the raffle shall

be subject to the resolution of the pending incidents respecting their cases,” the resolution said.

It noted how existing groups Ang Laban ng Indiginong Filipino, the Isang Lapian ng Mangingisda at Bayan Tungo sa Kaunlaran and the Social Movement for Active Reform and Transparency have pending motions to admit the manifestation of intent to participate after these were filed beyond the May 8 deadline.

Raul Bernardo Valino, 71

VETERAN journalist Raul B. Valino passed away in the Grace of our Lord on December 9.

Valino was business section editor of the defunct Times Journal, editor of the Manila Chronicle, a deskman of the Manila Bulletin and a columnist of the BusinessMirror.

His bereaved wife Celia, children Allen and Donna, Aileen and Dondon, and his grandchildren Ian, Jan Yna, Milo, Pepper, Aidon, Nique, Kaylie and Mico request the pious readers to pray for the eternal repose of his soul.

His remains lie in state at Rizal Funeral Homes, Libertad Street, Pasay City.

His interment is to be announced.

Editor: Dionisio L. Pelayo • Monday, December 14, 2015 A3

11 Middle East-bound workers held at airport on suspicion of trafficking

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MMIGRATION officers at the Ninoy Aquino International Airport (Naia) announced on Sunday they held 11 Filipino domestic helpers, disguised as religious missionaries bound for the Middle East, on suspicions they were victims of a human-trafficking syndicate.

Bureau of Immigration (BI) Associate Commissioner Gilbert Repizo said the trafficking attempt was thwarted on December 8, when immigration officers prevented the 11 women from boarding their flight to Dubai via Hong Kong at the Naia Terminal 3.

Repizo said the passengers initially introduced themselves as Born Again Christians who were on a mission to preach their faith. “[After intensive] questioning, the group admitted their final destination is Dubai where they were recruited to work as domestic helper,” said Repizo, who is connected with the BI’s bordercontrol operations.

A suspected courier was also off-loaded from the flight after he was identified as the one escorting the women in the Dubai-to-Hong Kong route.

Theodore Pascual, BI port operations division chief, said they turned over the custody of the women and the alleged courier to personnel of the Inter-Agency Council Against Trafficking (Iacat) for further investigation and filing of charges against the recruiters.

Pascual refused to divulge the passengers’ names citing the antitrafficking law prohibits public disclosure of trafficking victims.

It was learned that during questioning by members of the BI travel control and enforcement unit, the passengers confessed that they were briefed by their recruiters to pretend that they are Born Again Christians who are going on a Bible study and to preach in Dubai.

One of the victims admitted that she had worked in Lebanon for two years despite the existing ban of workers’ deployment there.

Another recounted how she had previously worked as a maid in Malaysia, but was denied entry in October when she returned from vacation.

The women told Repizo they are hard-pressed to go abroad to work. Recto Mercene

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‘Clear govt policies key to reaping rewards of RE law’

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B L L

HE National Grid Corp. of the Philippines (NGCP) stressed the importance of the government’s role in reaping the benefits of the seven-year-old renewable-energy (RE) law.

NGCP President and CEO Henry Sy Jr. said the enforcement of government policies is as important as the investments poured in by the private sector.

“Much has been said about the benefits of renewable energy, most especially in developing countries like the Philippines. However, for us to reap the benefits of renewable energy, we need more than investments on power plants, transmission facilities and other infrastructure. Clear policies, stringent regulation and commensurate incentives are equally important in the

effective implementation of the RE law,” Sy said during the Philippine Energy Summit last week. RE was among the issues discussed during the summit held on Friday.

In December 2008 the Philippines enacted Republic Act (RA) 9513, also known as the Renewable Energy Act of 2008. The law affirmed the government’s commitment to accelerate the exploration and development of Philippine RE resources. RA 9513 declared the state’s policy to achieve energy security by reducing reliance on fossil fuels and minimizing exposure to price fluctuations in oil

markets. The government agencies tasked to implement the law include the Department of Energy, the Energy Regulatory Commission and the National Renewable Energy Board.

RA 9513 also seeks to increase the utilization of RE resources by developing national and local capabilities in the use of RE systems, and promoting their efficient and effective application by offering fiscal and nonfiscal incentives.

These incentives include: incometax holiday; duty-free importation of renewable machinery, equipment and materials; special realty tax rates; net operating loss carryover; corporate tax rate of 10 percent; accelerated depreciation of plant, machinery and equipment; zero-percent value-added tax rate; tax exemption on carbon credits; and cash incentive for missionary electrification. Industry stakeholders, however, are still facing tough challenges, including high up-front cost and technologies, and inaccessible financial packages.

Sy said open dialogue and exchange are very essential in an in-

dustry, such as the power sector, that is composed of varied stakeholders with different interests. “It is high time that industry players start the conversations going and work toward cleaner and more sustainable energy sources, and toward a successful and competitive energy industry that is at par with, if not better than, Asean counterparts,” Sy said.

“Today, we take a look at the opportunities that the Philippine power industry faces, starting with the rapidly changing global energy outlook; the possibility of one Asean grid; the prospects for gas and its emergent role in the generation sector; and the direction we need to take to improve and maximize the spot market,” he added.

Last month the Department of Energy reported that it has awarded 616 RE contracts to date. As of endOctober this year, the agency said that these contracts have a potential generation capacity of 12,128.30 megawatts (MW) as against a total installed capacity of 2,950.86MW.

Accidents involving Mitsubishi Monteros not due to human error, car owners say

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AR owners affected by the alleged sudden unintended acceleration (SUA) issue of the Mitsubishi Montero Sport model reiterated their push for a recall of the variant in a position paper they submitted to the Department of Trade and Industry (DTI).

In their position paper, 24 complainants, led by Atty. Charlie V. Tumaru, contested the stand of Mitsubishi Motors Philippines Corp. (MMPC) that the accidents involving their Montero Sport model were due to human error.

The group, through their own findings, said the vehicle could have a fault in the fuel system, the electronic unit, or transmission sensors which can all be causes to the reported SUA problem.

MMPC has been receiving complaints of SUA since 2011 and have already brought some units to Japan for technical testing.

The company claimed that no defects were found leading or relating to SUA.

The car company has so far dealt with 97 SUA complaints since 2011 and have closed (through settlement, dismissal, or resolution) all except for two. These two cases are now awaiting resolution at the DTI. The Japanese car brand has stood by this position since reports of the alleged malfunction resurfaced recently and has recently insisted that a third-party investigation is needed to verify whether the SUA problem exists. Complainants, however, insisted that MMPC should admit to the existence of the SUA and for the company to determine its root cause.

MMPC has not sold a unit of the Montero Sports since the last week of November due to the DTI’s warning to the public to refrain from buying the model.

MMPC Vice President for Marketing Services Froilan Dytianquin said the slowdown in sales and reports of SUA could affect their 950 employees, excluding those hired by their 20 dealers. Catherine N. Pillas

Tourism&

A6 Monday, December 14 , 2015 • Editor: Carla Mortel-Baricaua

DOT, UWMPG wr Underwater Photo C

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B J F

O strengthen the country’s stature as one of the top underwater macro photography destinations in Asia, the Department of Tourism (DOT) has once again teamed up with the Underwater Macro Photographers Group (UWMPG) for the Third Anilao Underwater Photo Competition Festival held from November 25 to 29 at Acacia Resort and Dive Center in Mabini, Batangas.

The event drew 122 underwater photographers and dive fanatics from 15 countries namely Australia, the Philippines, Indonesia, Taiwan, Turkey, Japan, Thailand, Singapore, China, Brazil, Canada, Korea, Hong Kong, Germany and the US, the highest turnout in three years.

“Our objective is not just to promote the Philippines as a dive site in general. We have chosen a niche that caters to both dive beginners and underwater photographers within the diving world. Anilao’s close proximity to Manila is also a factor that makes it a diver’s haven,” DOT Dive-Market Development Group Chief Tourism Operations Officer Glen Agustin said.

Winning entries

FOR this year’s competition, the total of number of entries reached 488 for the five categories: Macro/ Supermacro Photography; Marine Behavior; Nudibranch Portrait; Crustacean Portrait; and DOT Photographer of the Year (Portfolio), in which the winner will be judged based on the photos submitted to the first four categories. The competition is also divided into the Open Class and Compact Class.

Open Class grand winners are Ponnie Janjarasskul (Macro/Supemacro), Irwin Ang (Marine Behavior), Jojo Lau (Nudibranch Portrait) and Insoo Park (Crustacean Portrait). Winning shots from the Compact Class were bagged by Penn de los Santos (Macro/Supermacro), David Chan (Marine Behavior), Baby Fajardo (Nudibranch Portrait) and Ivan Manzanares (Crustacean Portrait).

This year’s DOT Photographer of the Year awardees are Insoo Park for Open Class and Ivan Manzanares for Compact Class.

The winning photos were chosen by judges Yorko Summer, a dive trav-

UNDERWATER photographers gear up for their first dive in Sec

Department of Tourism Dive-Market Development Group

A DIVER back rolls off the boat.

el journalist; Lia Barrett, photo editor of Dive Photo Guide web site; Ken Thongpila, founder and editor of UWMPG; Yusuke Yoshino, grandmaster of underwater photography and author of the best-selling The Most Beautiful Marine Creatures photo book; and Cem Gazivekili, winner of the first and second Anilao underwater photo competition and recipient of the DOT Photographer of the Year award.

“We combined elements of behavior, artistic, and technical abilities, and whether the animals were interesting or not. There were various factors that went into our decisions, and it was really tough because there were so many great images, but we have to choose the ones that showed all those elements put together. And I’m very happy with the results,” Barrett said.

Since 2013, the event has gained much support from both local and foreign photographers and accolades from prominent international dive publications including Scuba Diving’s annual Top 100 Readers’ Choice Awards and Sports Diver Magazine. This recognition is what the department’s Dive-Market

Development group endeavors to sustain as it continues to “showcase the country as an excellent destination for underwater macro photographers and entice them to engage their hobby in the Philippines.”

“We are very happy to see that this event has evolved into a fun environment for local and international divers, as well as for underwater photographers, both amateur and professional. We are committed to continue developing this event and work with dive establishments and stakeholders to create an even better experience for divers, photographers and visitors,” DOT Undersecretary Benito “Bong” Bengzon Jr. said.

Gold standard

WITH Anilao fast becoming a household name for the dive community, DOT Director Verna Buensuceso shared that top underwater photographers remarked how the Philippines has become their “gold standard” for diving sites.

“As a nation of 7,107 islands, the Philippines, of course, is one of the most diverse diving spots in the planet. We are proud to say that we have it all, from the smallest to the biggest underwater sights in diving,” she added.

Grandmaster underwater photographer Yusuke Yoshino, who had

&Entertainment BusinessMirror

tourism@businessmirror.com.ph • Monday, December 14, 2015 A7

rap up 3rd Anilao Competition Festival IVAN MANZANARES

INSOO PARK

IVAN MANZANARES

cret Bay.

already taken underwater photos from at least 80 countries in the past 40 years, was amazed by what Anilao has to offer.

“It is my first time to dive here but it is truly one of the world’s best,” he remarked.

The partners and sponsors of the Third Anilao Underwater Photo Competition are Mabini local government unit, Acacia Resort and Dive Center, Mares/Scuba Schools International, EZ Dive Magazine, Blue Zen Studios, Scubanet Travel and Magazine, Undersea Travel, Underwater World, Underwater Macro Photographers Group, VIEW Travel and Lifestyle Magazine, FunDive, iDas, Sea&Sea, INON Inc., Nauticam, Scuba Studio, Squires Bingham Sports, Discovery Fleet, Atlantis Resorts and Liveaboard, Asiaqua.com, Azure Dive and Yoga Resort, Dive Th ru Resorts Bohol, The Th ree P Holiday and Dive Resort, La Chevrerie Resort and Spa, Pacifico Azul, Bohol Beach Club, Dugong Dive Center, El Rio Y Mar Resort Coron, Aiyanar Beach and Dive Resort, Fun and Sun Dive Travel, Anilao Villa Magdalena Dive Resort, Salaya Beach Houses, Marco Vincent Dive Resort, Crystal Blue Resort, New World Manila Bay Hotel, Resorts World Manila, Belmont Hotel and Turkish Airlines

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IVAN MANZANARES

OurTime BusinessMirror

A8 Monday, December 14, 2015 • Editor: Efleda P. Campos

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Zambales opens special hospital ward for senior citizens

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By Henry Empeño | Correspondent

BA, Zambales—Gov. Hermogenes Ebdane Jr. inaugurated on Thursday a special ward for the exclusive use of senior citizens at the provincial hospital in this town, the third component of his commitment to provide well-rounded elderly care under his administration.

The facility, which was built on top of the Emergency Ward at the Ramon Magsaysay Memorial Hospital, boasts of separate fully airconditioned male and female wards with a total of 18 beds and three-bed isolation rooms at each ward.

The Senior Citizens Ward also has its own nurse’s station with intercom and closed-circuit television monitor, social services office, pharmacy, rehabilitation therapy room, multimedia lounge and a spacious common waiting room.

The project—from construction to equipment and fixtures—costs a total of P13 million.

In inaugurating the facility, Ebdane reminded everyone that it is the society’s duty to take care of its elderly population.

“Under the Constitution, family members should take care of their elders while the government is mandated to implement programs for their security. But aside from the 20-percent discounts and the PhilHealth [Philippine Health Insurance

Corp.] cards, little is being done for the seniors,” Ebdane said. “This is why under our three pillars of commitment, we have facilities, health services, and occasions and memories for the elderly.”

Ebdane said his administration has built office buildings for Senior Citizens Associations in all the 13 towns of Zambales under the first commitment to provide adequate facilities for seniors.

The Senior Citizens Ward here in Iba, as well as similar wards being planned to be built at the government-run district hospitals in the towns of Candelaria and San Marcelino, fall under the first commitment, the governor added.

He said under the second thrust for health services, the provincial government has initiated programs, like “Operation Cataract,” “Operation Alis-Bukol” and antiflu vaccination for senior citizens.

Under occasions and memories, meanwhile, Ebdane said they have organized monthly joint seniors

ZAMBALES Gov. Hermogenes Ebdane Jr. (inset) announces the opening of the Senior Citizens Ward at the Zambales provincial hospital on December 10, and the distribution of health-care “passbooks” for senior citizens in the province. The newly opened Senior Citizens Ward at the President Ramon Magsaysay Memorial Hospital in Iba, Zambales, will have a hospital ward each for male and female patients with a total of 18 hospital beds. It will have three-bed isolation rooms at each ward.

birthday celebrations, whereby the elderly gets to have bonding moments with their peers, as well as members of the family.

Ebdane also announced on Thursday that to fully support the new facility, the provincial government has determined to hire 16 additional nurses to man the ward and provide elderly care. He also said that the provincial health office would release “health-care passbooks” to

11 NegOr centenarians recognized

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UMAGUETECITY—Elevencentenarians in Negros Oriental were recognized on Friday in a simple ceremony attended by Department of Social Welfare and Development Region 18 Regional Director Shailyn Sun Lucero and provincial government officials, headed by Gov. Roel Ragay Degamo.

The awardees included Constancia Agbon, 101, from Poblacion, Guihulngan City; Demetria Aldecoa, 106, from Dumaguete City; Dionesia Comcom, the oldest at 114 years old, from Bonawon, Siaton; Virginia Escares, 102, from Mabigo, Canlaon City; Milagros Fortuito, 101, from Sibulan; Margarito Init, 105, resident of Jawa in Valencia; Dalmacia Jamin, 107, from Mabuhay, Santa Catalina; Restituta Remollo, 101, of Santo Niño, San Jose; Faustino Ricaborda, 101, of Alangilan, Santa Catalina; Basilia Torres, 101, of San Cruz Viejo, Tanjay City; and Socorro Valencia, 106, of Guihulngan City. Of the 11 centenarians, nine are female and only two are males.

In his message, Degamo stressed the need for the older generation to be recognized because “if not because of them, we won’t be here, and that we should follow their footsteps, know their secrets and live with it.”

Brigido Bayawa, 84, Federation of Senior Citizens Association president, said if it is God’s will for him to reach 100 years, he would

be glad to wait for the time that he will also receive such recognition.

He said every senior citizen needs to live life to the fullest.

Comcom, the oldest at 114 years old, said she had no secrets and “it’s all God’s will.”

She said they used to be neighbors with Degamo’s family in Bonawon, Siaton, and that one time, she caught the boy, who is now the governor of the province, throwing stones at their mango tree.

Lucero lauded efforts of the provincial government to recognize centenarians in the province in finding ways to extend financial assistance to them with an appropriation of P1 million.

Each centenarian received P90,999 from the provincial government assisted by Lucero, who is optimistic the house bill aimed at extending rewards to senior citizens who reach the age of 100 will be approved in the Senate, following approval of the House version.

Records will show that the municipality of Siaton in Negros Oriental was the first to initiate the giving of recognition to centenarians with meager amounts, including the Golden Center of Cebu in Cebu City.

Under the Negros Island region, Lucero is also aware that Bacolod City is also doing its share in recognizing senior citizens who reach that age level. PNA

Monetary support for PPAs of elderly, PWDs sought

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MEASURE mandating local government units (LGUs) to allocate 1 percent of their Internal Revenue Allocation (IRA) for programs, projects and activities (PPAs) of senior citizens was filed in the House of Representatives.

House Bill 6250, authored by Rep. Alfredo D. Vargas III of the Fifth District of Quezon City, also seeks to allocate 1 percent of LGUs’ IRA for PPAs for persons with disabilities (PWDs).

Vargas said it is the policy of the state to provide senior citizens and PWDs with PPAs that will effectively address their needs.

“The state recognizes the roles of senior citizens and persons with disabilities in nation-building and community development,” Vargas said.

The bill defines senior citizens or elderly as any resident of the Philippines who are at least 60 years old.

PWDs refer to those suffering from re-

striction or different abilities, as a result of a mental, physical or sensory impairment, to perform an activity in the manner or within the range considered for a normal human being.

The Quezon City solon said in his consultation with the senior citizens sector in his district, one of the issues that emerged was the inadequate funding for PPAs that will benefit the sector.

“These projects, programs and activities include medical and dental services, fitness and wellness, social services, livelihood and employment, legal assistance, and recreation,” Vargas added.

Vargas said through the 1-percent allocation of the IRA, the problem of inadequate funding would be addressed.

“The state will be able to provide sufficient monetary support for the PPAs that shall address the necessities of senior citizens and PWDs,” he said. PNA

members of Senior Citizens Associations, which may be used to avail themselves of free health and medical services in any of the three government hospitals in the province.

Ebdane said the passbooks will contain permanent personal and medical records of each senior citizen, so that they would get better and speedier diagnosis and treatment at the hospitals here.

The Senior Citizens Ward project

was hailed by both the elderly sector and local medical officials.

“Maagang pamasko ni Gob ito sa amin [This is an early Christmas present from the governor for us],” said Paz Collado, president of the Candelaria Senior Citizens Association. “Most of the elderly are made to believe they have outlived their value in the society. But the governor made us feel otherwise.”

Dr. Noel Bueno, who heads the

provincial health office and sits as director of the provincial hospital, said that in his 20 years of hospital service in various provinces, Zambales is the only one with “so many programs focused on delivering important health-care services for senior citizens.”

Bueno said the Zambales provincial hospital is also among the first with a geriatrics ward or senior citizen’s ward in the country.

It’s more fun growing old in Ligao City

L

IGAO CITY—Growing old in this young Bicol city is indeed amusing as the local government reaffirms the valued Bicolano tradition of caring for senior citizens.

Celebrated this year as the oldest living city resident, 103-year-old Divinaflor Nacional said she is amused by the preferential attention being given to her and all the other local elderly by the city government through various care and incentive programs it implements and consistently upgrades.

“Since the city wants us to stay healthy, we senior citizens are provided with a special medical and health-rehabilitation clinic that offers free services 24/7,” Nacional said when interviewed by the Philippines News Agency at the city’s Office of the Senior Citizens Affairs (Osca) on Tuesday, while her yearly cash gift was being processed for release.

When she reached 100 years old three years ago, she said she got P20,000 in cash gift from the city government for reaching her centennial age and P10,000 yearly for staying alive thereafter.

Osca Chief and City Senior Citizens Federation President Vicente Aldea said each of the over 8,400 senior citizen (60 years old and up) of the city who are currently registered with their respective barangay Senior Citizens Association receives a yearly Christmas gift of P1,000.

On top of that, each of those who reach their “mileage ages” of 80, 85, 90, and 95 are given cash gifts worth P500, P1,000, P1,500, P2,000, respectively, while P20,000 is given to those who reach their centennial age, plus P10,000 yearly during their lifetime, Aldea said.

Senior citizens celebrating their mileage or centennial ages are just advised to report to the Osca or office of city mayor Patricia Gonzalez-Alsua during their birth month to claim their cash gifts.

For those who cannot come for it for one valid reason or another, Aldea said, the mayor sends representatives from the Osca and City Treasurer’s Office to the birthday celebrant’s residence to deliver the cash gift.

Alsua, in a separate interview, said that next year, her administration is expanding the coverage of the mileage age cash gift

by way of including those who are reaching 75 years old and increasing the amount.

With this expansion, she said, those reaching 75 years old will receive P500, P750, P1,250, P1,750 and P3,000 for 80, 85,90 and 95, respectively.

For those reaching the centennial age of 100, the amount of P20,000, as well as the P10,000 for each next year of their lives will be maintained, she said. “We are providing these incentives and preferential services to our senior citizens because we believe that it is not only the family’s duty to take care of the elderly members of the community and society but also of the state, which the city government represents,” Alsua said.

The special health care and rehabilitation program that the city government implements, she said, is in accordance with the provision of the Expanded Senior Citizens Act of 2010, which mandates, among others, the establishment of “community-based health and rehabilitation programs for senior citizens in every political unit of society.”

The same law mandates the government to provide a comprehensive health care and rehabilitation system for disabled senior citizens to foster their capacity to attain a more meaningful and productive aging.

Aldea said there are around 3,000 registered senior citizens in the city who are already sickly and disabled and availing of the services of this special communitybased health care and rehabilitation clinic.

“We also see to it that all the benefits and privileges, such as the 20-percent discount on medical, recreational, public transportation and basic commodities needs of senior citizens as mandated under the Expanded Senior Citizens Act are provided,” Aldea added.

When transacting with banks, commercial establishments and government offices, he said, his office is glad to see that in the city, senior citizens are provided with express lanes where they are given priority attention. All registered senior citizens in the city are also provided with valid identification cards that they can present to avail themselves of these services and privileges, he added.

Since the city government also recognizes the rights of senior citizens to take

their proper place in the society and fully support the improvement of their total well-being and full participation in community being integral part of the society, “we see to it that they are made part of every relevant activity where they could be motivated to contribute to nation building,” Alsua said.

During last October’s celebration of the Elderly Filipino Week, she said, the Osca and city government organized medical missions in five clustered units of barangays to make it easier for senior citizens to avail themselves of the free consultations and medicines it offered.

Social activities, where the elderly were made to enjoy singing, dancing and participating in parlor games with cash prizes, were also made part of the weeklong celebration that saw the participation of Rep. Fernando Gonzalez of the Third District of Albay, who is also a senior citizen.

The congressman shouldered the cash prizes and gave more freebies to those who participated and showed their special talents during the events, said Alsua, who added that, by next year, the city’s senior citizens could look forward to improved benefits and services as the city government has allocated a budget amounting to P11.7 million for these.

“My husband and I enjoy being senior citizens in this city. The government programs and services intended for us are easily accessible, while incentives are plentiful, owing to the city administration’s concern and determination to make the remaining years of our lives amusing and fruitful,” said 67-year-old Emiliana Olmeda of Barangay Basag.

Although her 73-year-old husband is already disabled due to a stroke, Olmeda, who serves as president of her barangay’s Senior Citizens Association, said the opportunities being given by the city government for them to participate in various activities and programs make them feel they remain integral part of the society and contributor to community building.

“Getting involved makes us happy with our old age and continue to wish for more years in our lives so that we can contribute more for the betterment of the generations next to us,” she added in the local dialect. PNA

news@businessmirror.com.ph

The Regions BusinessMirror

Export policy-reform updates by DTI, allied agencies to help SMEs B R C

Special to the BM

E

XPORTERS, importers, and small and medium enterprises (SMEs) stand to benefit from the numerous reforms on policies affecting the operation and processes within the sector, spearheaded by the Department of Trade and Industry (DTI).

Businessmen and women who manage SMEs and are part of the export sector attended the export policy-reform update on December 7, 2015 at the DTI International Building in Makati City. Led by the DTI, the session was organized by the Export Marketing Bureau, Philippine Exporters Confederation Inc. and the Export Development Council (EDC). The government agencies said the forum sought to update the SMEs and the export sector on the processes and procedures they need to go through when operating their business easier and faster. Among the topics discussed were the coloading law, specifically for the transport and logistics of goods for trade and other

purposes. This was tackled by the Bureau of Customs (BOC) legal service lawyer, Willie B. Sarmiento, who said the law aims to lessen fees paid by exporters in terms of transporting their cargo from port to port. Aside from the decrease in fees, the BOC also aims to hasten the processing time exporters have to endure by lessening the permits they need to acquire with the different government agencies. The law aims to allow foreign cargo vessels to transport or coload cargo for domestic transshipment and other purposes.

Dennis Pantastico, Asean single window lead, said the Asean is also trying to simplify processes for exporters to get their businesses up and running or operating productively and to facilitate seamless trading among Asean membernations. Thus, the DTI and the EDC seek to make the process of acquiring permits and clearances for the transportation and trade of goods faster, and easier to help businesses grow at a more rapid rate, thus, aiding in the growth of the Philippine economy.

4 killed, 18 soldiers wounded in landmine blast, clashes B M T. C Mindanao Bureau Chief

D

AVAO CITY—Three soldiers and a civilian were killed in landmine explosions over the weekend, while 18 other soldiers were injured in separate armed skirmishes over the weekend in the city’s remote village and in Compostela Valley.

The incident that inf licted heavy losses to government soldiers happened on Saturday night when suspected New People’s Army (NPA) guerrillas exploded a roadside bomb along Kilometer 11, Barangay Cabuyoan in Mabini town, Compostela Valley. The explosion was directed at a throng of soldiers of the 1001st Infantry Brigade while doing their regular outreach activity in the village.

The Army’s 10th Infantry Division (ID) here said one soldier and one militiaman of the Cafgu Active Auxiliary were killed, while 14 soldiers were injured in the explosion.

It said one civilian that it did not identify was also killed after a civilian vehicle passed by the area at the time of the explosion.

Another civilian in the vehicle was also wounded and in critical condition. Earlier on Friday soldiers of the 69th Infantry Battalion engaged the NPAs in gunbattles in the northern hinterland of this city. A soldier was killed in a landmine explosion and four others were wounded in clashes.

The 10th ID identified the

slain soldier as Private First Class Johnhill Victor A larcon from Iloilo City. The wounded soldiers were Corporal Ramil Aquino, Sergeant Maynard de Guzman, Cpl. Allan Paul Salvador and an officer, 2Lt. Earl Jun Atucha. Alarcon and Aquino belonged to the Bravo Company, which checked on alleged sighting of guerrillas in at Sitio Kialaw, Barangay Malabog of Paquibato District, more than 70 kilometers north of downtown Davao City.

Alarcon died on the spot when the guerrillas exploded an improvised bomb at the approaching soldiers at noon Friday. The 10th ID said the soldiers encountered the NPA units of Guerilla Front 56 and the Pulang Bagani Company 1 of the Southern Mindanao Regional Committee. The body of Alarcon was brought to Villa Funeral Home in Panabo City, while Aquino was sent for medical treatment at the Army Camp Panacan Station Hospital here.

On Saturday the Charlie Company of the same battalion caught up with NPA unit at Sitio Bal-ong, also in Barangay Malabog at 4:30 p.m. Three soldiers, including Lt. Atucha, sustained gunshots and shrapnel wounds and were brought to the nearest hospital for medical treatment. The NPAs were able to withdraw though. The soldiers recovered ammunitions for M14 and M16 rifles, empty shells of different rifles, a 150-meter electrical wire and several personal belongings of the NPAs.

BDO Foundation, Injap Investments open new school building in Leyte

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AN MIGUEL, Leyte—BDO Foundation, the corporate social-responsibility arm of the country’s largest bank, recently inaugurated a new school building in San Miguel National High School in San Miguel, Leyte.

The province is one of many covered in the foundation’s rehabilitation program for areas severely affected by Supertyphoon Yolanda. Jointly funded by BDO Foundation and Injap Investments Inc., the two-story, four-classroom school building supports the Department of Education’s (DepEd) Adopt-A-School Program. The completion of the school building has contributed to reconstruction

efforts in Yolanda-affected communities. The initiative will also improve the development of the youth in San Miguel by providing much needed infrastructure for educational purposes.

The new school building was turned over to administrators in an event attended by Injap Investments Inc. President Ferdinand Sia, BDO Tacloban-Zamora Branch Head Jean Culas, BDO Foundation Program Director Rose Espinosa, San Miguel Mayor Cheeryl Enrica Esperas and Vice Mayor Atilano Oballo.

Also present were DepEd Leyte Schools Division Supt. Dr. Ronelo Al Firmo and San Miguel National High School Principal Benito Avorque.

Editor: Dionisio L. Pelayo • Monday, December 14, 2015

A9

UNDP: Biodiversity conservation projects need ₧334-billion budget

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HE Philippines has been underspending in biodiversity conservation and needs to fill in the financing gap to reverse the trend of biodiversity loss, according to the Biodiversity Financing Initiative (BioFin) of the United Nations Development Programme (UNDP).

The study revealed that the government needs to invest P334 billion between 2015 and 2028 to address problems brought about by biodiversity loss and its potential impacts on the national economy, including agriculture, fisheries, ecotourism, said Anabelle E. Plantilla, BioFin project manager.

Currently, the budget allocated by the Philippine government to protect and conserve biodiversity is P5 billion.

The Philippines is one of 17 mega-diverse countries yet it is also listed as a biodiversity hotspot because of rapid biodiversity loss.

This was attributed to encroachment in forested areas, pollution, over fishing, poor land management practices.

To address these threats, the Department of Environment and Natural Resources-Biodiversity

Management Bureau (DENR-BMB) with support from the UNDP, other national government agencies, academe, civil society and development partners, has developed the Philippines Biodiversity Strategy and Action Plan (PBSAP).

The PBSAP is the country’s road map in conserving biodiversity and critical ecosystem services.

Through BioFin, the DENRBMB has determined the financing gap of implementing the PBSAP, estimated to be at least P334 billion or $7.4 billion over the next 13 years.

This covers actions on forest, coastal and marine, inland wetlands, caves and cave systems, protected areas, invasive alien species, agrobiodiversity, access and benefit-sharing and urban biodiversity.

With the required P24-billion annual investment for biodiversity

conservation in the next 13 years or from 2015 to 2028 against the current estimated annual budget of P5 billion which is mainly sourced from the DENR’s budget, the budget for biodiversity conservation in the Philippines will fall short by P19 billion annually, if such trend in budget allocation for biodiversity conservation will continue. According to Plantilla, such financing gap may have dire consequences to agriculture and fisheries development, which currently contributes 11 percent to the country’s GDP. “Pag-napabayaan ang ating forest ecosystem na syang pinanggagalingan ng tubig na ginagamit sa irrigation, apektado ang ating food production. Similarly, sa fisheries, pag hindi na rehabilitate ang mga damaged corals, seagrass beds at mangroves, bababa ang ating fisheries production,” she warned.

The impact of biodiversity loss is expected to affect employment, worsening poverty situation, she said. The majority of the Filipinos, she said, are dependent on agriculture and fisheries for their income and livelihood, while ecotourism is aggressively being promoted to boost income in the countryside, Plantilla said maintaining a healthy ecosystem will also boost the target of the Department of Tourism to increase revenue

through ecotourism promotion.

She said there is a need to tag budget specifically for biodiversity conservation to narrow the financing gap.

She said the government needs to encourage the private sector to help fill in the gap by investing in biodiversity conservation programs. “There is also a need for local governments to invest in biodiversity conservation through the 20-percent development fund in their annual internal revenue allotment,” she said.

In a statement, meanwhile, UNDP Philippines Country Director Titon Mitra said allocating huge amount of money should be seen as an investment in conservation and also as an economic investment with significant financial returns to the country.

“It is an investment that needs to be made by both government and the private sector. This could see a minimum return of $10 billion per year from fisheries, eco-tourism and pharmaceuticals derived from genetic resources” Mitra said.

BioFin is a global partnership seeking to address the biodiversity finance challenge in a comprehensive manner through building a sound business case for increased investment in the management of ecosystems and biodiversity. The Philippines is one of 29 countries involved in the initiative.

Jonathan L. Mayuga

INC opens new ‘family-friendly’ hospital building to assist more people in need of medical care

I

N fulfillment of its mission to help more people, the Iglesia Ni Cristo (INC) recently opened a modern family-friendly hospital building that would provide more affordable and world-class medical service to the public.

INC Executive Minister Bro. Eduardo V. Manalo and his wife, Sis. Lynn Manalo, led the inauguration on November 30, of the 140-bed hospital building, which has a spacious lobby equipped with a video wall, pleasant and cheerful color-themed floors, a bigger intensive care unit (ICU), including an ICU for neonatal care, wider and more spacious rooms and corridors, and updated hospital equipment and facilities.

With the inauguration of the New Era General Hospital’s (NEGH) five-story Avelina Manalo Macapugay (AMM) building, the NEGH hopes to meet world-class hospital standards with the primary mission of helping more people.

The 140-bed capacity of the new hospital building represented a 305-percent increase in the original hospital ’s bed capacity of the old NEGH building of only 40 beds, when it was inaugurated in 1993 by the late Executive Minister Erano G. Manalo. It also has more complete radiological ser vices, including CT scan, and clinical microbiological services A bridgeway on the secondfloor connects the old NEGH twostory building to the new AMM building of the hospital. To better serve the public, NEGH now has 134 specialist consultants, aside from its resident doctors, 100 nurses, and more than 100 other allied medical personnel.

All of them also help in the various medical outreach activities called “Lingap sa Mamamayan” of the INC. What is more important is that the vision of the Church Administration of the INC never wavered in providing medical care to more people, NEGH Assistant Director Dr. Sergie Santos said.

World-class, family- and kidfriendly hospital

THE new hospital building is not only family-friendly, but kidfriendly, as well. Santos said that an innovation implemented in the new hospital building is the play area for the pediatric wing. The pediatric wing itself has cheerful kid-friendly designs on its walls.

“According to international standards, pwede na ring maglaro ang mga bata,” he said referring to pediatric patients who will be allowed to play in the play area.

“They’ll feel happier. Hindi ’yung nakakulong lang sila sa kwarto.”

He said that only a few hospitals in Asia have been accredited the Joint Commission International Accreditation Standards for Hospitals, and the AMM building would hopefully be added to the list soon.

Even the lighting of the hospital is designed to lower blood pressure, Santos said. Even the sound system of the hospital is designed to be blood-pressure friendly, since the sound decibel was designed not to affect or heighten blood pressure.

Happy hospital atmosphere

HE said the “happy and cool” colors of the hospital will put patients and even their companions at ease when

they enter the hospital lobby.

“Ngayon po pagpasok mo pa lang sa lobby, masaya na, kasi ’yung kulay pa lang nakapagpasaya na. Mayroon ding concierge na mag-aasikaso sa mga dadalhing gamit. Hindi lang po mga pasyente ang aasikasuhin, pati mga bantay,” he said.

There is even an al-fresco canteen in the hospital, aside from the airconditioned dining area in the new NEGH building, Santos added.

The rooms for the patients, particulary the private and semi-private rooms, are equipped with mounted cable TV and Wi-Fi. The new AMM building also houses the Ministers’ Health Concerns’ Office (MHCO) on its ground floor to help the church ministers and evangelical church workers and their families who will be needing hospital and medical assistance.

The marker of the new hospital building read: “Ang gusaling ito ay ipinatayo ng Iglesia Ni Cristo sa ilalim ng pamamahala ng Kapatid na Eduardo V. Manalo upang mapalaki at mapalawak ang pasilidad ng New Era General Hospital para maging lalong mabisa sa pangangalaga sa kapakanang pangkalusugan hindi lamang ng mga Ministro at Manggagawa sa Iglesia Ni Cristo at ng kanilang sambahayan.”

But Santos stressed that the hospital’s facilities will also serve the public at large.

“Wala po kaming tinatanggihan,” he said.

Joint Commission International standards followed

SANTOS also stressed that the construction of the hospital fulfilled the highest standards laid down by the Joint Commission International.

The hospital director, Dr. Salvador Corpuz, said that with the addition of the NEGH’s five-story building, the hospital would have more medical services to be offered to the public.

“Dahil po sa bagong gusaling pagamutan ito, mas marami na po kaming maseserbisyuhang medikal.

Una sa lahat po sa ating mga ministro at manggagawa at pamilya, maging sa atin pong mga kapatid at maging sa mga kababayan po natin na nasa paligid po ng New Era General Hospital,” Corpuz said. The new building will also house the departments of medicine, surgery, obstetrics and gynecology, and pediatrics which provide services for people of all ages.

Corpuz said that aside from the intensive care unit, the hospital has neonatal intensive care units.

Eagle News Service

A10 Monday, December 14, 2015 • Editor: Angel R. Calso

Opinion BusinessMirror

editorial

Many answers; few solutions

T

he election season is truly the “silly season” because incredible amounts of wisdom are suddenly paraded before the public. The person who rarely attended sessions of the House of Representatives and now wants to be a senator will now magically become a “star pupil.” The town mayor whose city is being investigated for massive amounts of unliquidated cash advances will be the one to fix the government’s spending problems as a member of Congress.

There must be a secret book hidden someplace, which is only available to the candidates that gives “answers” to all the nation’s problems. The section on “agricultural” probably reads like this.

Problem: There are many poor people who are never able to significantly increase their wealth. Voter Profile: Many of these people are working the country’s farms. Answer: The government must mobilize its resources to help the farmers. We will spend more money for you.

Except virtually every study shows that the difference in agricultural success between rich and poor countries is the size of the farm. And it is not just in the First World nations. The World Census of Agriculture shows that in the poorest 20 percent of countries, the average farm size is 1.6 hectares (ha), while in the richest 20 percent of countries, the average farm size is 54.1 ha.

A 2014 paper, “The Size Distribution of Farms and International Productivity Differences,” showed the Philippines has the 19th smallest “Average Size of Agricultural Holding [hectares]” at 2.2 ha and the 14th lowest “Agricultural Real GDP Per Worker.”

No place in the “candidate’s manual” is there a discussion on how perhaps a flawed land-reform program has contributed to rural poverty.

Problem: It is a difficult process to start a new business. Voter Profile: Millions own and operate small and medium businesses. Answer: The government must eliminate unnecessary requirements.

There are 16 major steps to start a business, ranging from registering with the Department of Trade and Industry, and the Bureau of Trade Regulation and Consumer Protection to employer requirements at the Social Security System (SSS) and Philippine Health Insurance Corp. (PhilHealth). But getting a local business permit usually entails more paperwork from a health certificate to a fire inspection.

The next time a political candidate speaks about starting a business, ask that person specifically how that is going to be accomplished. Do we eliminate the need for a barangay clearance? Is it possible that the Bureau of Internal Revenue could have preprinted temporary receipts rather than having to take two or three weeks to have the originals printed and stamped? Maybe a single registration could accomplish SSS, PhilHealth and Home Development Mutual Fund requirements instead of three separate trips.

All the candidates have many answers to the nation’s problems and voters’ concerns. But where are the genuine solutions?

PCSO doubles number of branches Atty. Jose Ferdinand M. Rojas II

RISING SUN

I

N just three years, the Philippine Charity Sweepstakes Office (PCSO) has doubled the number of branches in its nationwide network, in an effort to bring the charity agency’s services closer to the people, especially in remote and underserved areas.

With the soft opening of the Masbate branch last month, the PCSO now has 50 branches, from an initial 25 when the present board of directors assumed office under the Aquino administration.

After careful study and deliberation, the PCSO began opening new branches in 2012, with the longterm goal of establishing a branch in every province where feasible and necessary.

Before we adopted an expansion strategy as among the ways to enhance and improve service delivery, applicants for PCSO services and products in certain areas had to travel to Metro Manila or to the province nearest to their area where a branch was located, entailing much effort and expense, especially for the residents of remote areas where public transport is not readily available.

To cut costs, we sought ways to partner with local government units (LGUs). Many of them offered space for a PCSO office in their government buildings rentfree or at a nominal cost, allowing the PCSO to stretch its resources

and open more branches. Many of the LGUs were so enthusiastic and appreciative that they even helped with the refurbishing or renovation of the spaces they provided.

Should it be possible and feasible to continue the branch expansion at the present rate, a PCSO office could be established in 75 out of the 81 provinces by the end of 2018 or middle of 2019.

This outcome would greatly benefit our fellow Filipinos, who know they can rely on the PCSO to assist them with their medicaland health care-related needs. The majority of PCSO’s beneficiaries are patients requesting for financial assistance under the PCSO Individual Medical Assistance Program (Imap), which provides subsidies for hospitalization and treatments such as chemotherapy, dialysis and the like.

All PCSO branches are equipped to handle Imap requests. In fact, we encourage the public to visit the agency’s branch nearest them for their applications; there is no need for them to travel to Manila for this purpose.

Meanwhile, for players of PCSO’s Lotto games, all branches also have Lotto terminals, and can process the applications of entrepreneurs who wish to partner with the PCSO to open Lotto outlets.

We often say that each PCSO branch is a “mini-PCSO head office,” in that most concerns of PCSO patrons can be accommodated there.

Branch opening will continue into next year. We invite LGUs who wish to offer space to the PCSO for an office to contact us for a possible partnership to bring the agency’s services and products to more people around the country. nnn

Another of the PCSO’s strategies that will be expanded is its At Source Ang Processing (Asap) Program, which puts a PCSO help desk right in the hospital, allowing patients and their loved ones to submit Imap applications more easily and conveniently.

The pilot hospital for the Asap Program was St. Luke’s Medical Center, in both its Quezon City and Taguig facilities. Upon the invitation of PCSO’s Charity Sector to all hospitals to adopt the program, many other hospitals have expressed their interest.

Last month the PCSO Charity Sector’s Charity Assistance Department (CAD) conducted an orientation of the program’s implementing rules and regulations to 16 private and government hospitals.

The 12 private hospitals are Asian Hospital and Medical Center, Cardinal Santos Medical Center, Capitol Medical Center, De Los

The chilling effect of successor risk

By Alberto C. Agra

W

PPP Lead

hatdotheabortedOrthopedicCentermodernizationproject, deadlockinthe MetroRailTransit-LightRailTransitcommon station,corporateincome-taxissueoftheMetroManilawater concession, rescinded paper supply joint venture contract and stalled unsolicited proposal at Fort Bonifacio have in common? All these publicprivatepartnerships(PPPs)facewhatthebusinesssectorfearmostwhenit deals with the government.

The prevalence of this risk is now more evident and pronounced.

Due to changes in policies, interpretations, orientations and regulations advanced by successor administrations, projects and contracts awarded by previous administrations are canceled, and assumptions and projections materially altered. This increases the credit risk absorbed by the private-sector proponent (PSP). Ultimately, it will be the people who will suffer from the discontinuance of or the delay in the project, which is presumably intended for

the public good. The affected PSP, as what we have seen, will either walk away, seek a judicial reversal, pray for a temporary restraining order, go through arbitration, or institute graft proceedings. Some would weather it out with the hope that the next (even the next next) administration would respect the decisions and policies made by two or more administrations back.

The aspiration for consistency and fairness, and the potential of the risk happening again do not end with the current or the immediately succeeding administration. Big-

ticket infrastructure PPP projects can last for 50 years. Long-term projects will be governed by eight presidents, 16 governors and mayors, and, under the current setup, 50 heads of state-run corporations.

The one who signs the contract for the public side will not be the one who will oversee the construction, operations, management, implementation of policies and turnover.

The coterminus non-career official who adopted the policy and who relied on then relevant opinions during the selection process will most likely not be around when the notice to proceed is issued.

Changing the rules and interpretations of rules while the contract has been awarded or procedures have already been undertaken is like, after the basketball game has been played or during the second half, three-point shots are outlawed to the detriment of the team that made more threepointers and who won the game.

Applying new rules and opinions retroactively, like the applicabil-

Santos Medical Center, FEU-Dr. Nicanor Reyes Medical Foundation Medical Center, Hospital of the Infant Jesus, Manila Doctors Hospital, Mary Johnston Hospital, MCU-Filemon D. Tanchoco Medical Foundation Inc., Metropolitan Medical Center, Our Lady of Lourdes Hospital and UERM Memorial Medical Center.

The four government hospitals are Dr. Jose Fabella Memorial Hospital, Gat Andres Bonifacio Memorial Medical Center, San Lazaro Hospital and Tondo Medical Center.

Under the Asap Program, patients or their authorized representatives file a request for assistance at the PCSO desk in the hospital.

Hospital personnel trained by the PCSO will confirm and assess the request, and pass it to the PCSO CAD, which will process the request and issue a guarantee letter if the request is found to be in order.

The recently revised Asap rules do away with the requirement of a face-to-face interview with the patient or their representative. Instead, applicants only need to fill out a comprehensive questionnaire.

Branch network expansion and the Asap Program are only two of the PCSO’s corporate strategies that have been developed to ensure the quality and timeliness of the agency’s service to the public.

These, and the PCSO’s other efforts, will be further strengthened and improved into the coming year. n n n Atty. Jose Ferdinand M. Rojas is vice chairman and general manager of the Philippine Charity Sweepstakes Office.

ity of the 2012 rules of the BOT law and 2013 guidelines on joint ventures, will surely dampen the market. Is this fair and just?

This is the chilling effect of successor risks in PPPs. If policy changes become the rule, rather than the exception, private companies will be inhibited from participating in PPPs. Some of them will demand high government subsidy, which will result in moral hazard risks or greater burden from taxpayers. The private sector will just turn cold, be hesitant, walk away, and not believe in rhetorics if contractual commitments and promises are not honored by the next government representative.

What will stop the next and the next and the next administration from doing what a ruling administration is doing or the next administration will do? Why will the business sector partner with and trust government if there is no consistency and stability?

See “PPP,” A11

Opinion BusinessMirror

opinion@businessmirror.com.ph

The assault on indigenous peoples

AFA supports Asean Economic Community

than 600 mil lion people, its $2.1-trillion economy will play an important role in the global economy and opening the Asean borders under the AEC will bring with it challenges and opportunities for investors, businessmen and accountants. Hence, the one-day conference was organized to bring together professional accountancy organizations, regional and global experts, regulators, policy-makers, standard-setters, and more important, accountants in the Philippines to discuss the effects of the Asean integration, particularly on Asean SMEs and SMPs. The conference also looked at the adoption and implementation of quality assurance review as a component for the profession in successfully welcoming the Asean integration.

The AFA conference focused on the theme “Asean Integration: Opportunities and Challenges for SMEs and SMPs, with Keynote Speaker Guntur Sugiyarto of the Asian Development Bank, who discussed “Asean Mobility of Skilled Workers,” while Board of Accountancy Chairman Joel Tan Torres gave an update on the status of implementation of the Mutual Recognition Arrangement for Accountancy Services.

The delegates and the local participants were in awe listening to foreign and local speakers on topics such as “Maximizing Opportunities of Accountants from the Asean Integration” (Lucia Real-Martin of ACCA); “SMPs and the New Auditor’s Report” (Dato Mohammad

Faiz Azmi of Malaysia); “Adoption of IFRS: Impacts on SMEs and SMPs” (Adrienne Abarca of SGV EY); “UNCTAD-ISAR Paper on Monitoring Compliance and Enforcement” (Gerard Ee of ISCA); “Specific Tax Issues and Reforms Engendered by Asean Integration” (Benedicta Baladad of BDB Law Firm); and, “AFA and its Activities on SMEs and SMPs” (Aucky Pratama, AFA executive director).

First panel discussion on “Asean Integration: Boon or Bane for SMEs and SMPs” was handled by panelists from Lao PDR, Australia and the Philippines with PICPA VPO Cesar Mansibang as moderator.

The second panel discussion on “Quality Assurance Review Challenges, Opportunities and Benefits in Adoption and Implementation,” was moderated

by Mark Campbell of the Institute of Chartered Accountants of England and Wales, with panelists from Singapore, Myanmar and the Philippines.

A conference participant emailed to us the following comments: “I have been to a number of local and international conferences of accountants here and abroad. I must admit that the recently concluded AFA Conference is by far the best. You couldn’t have chosen much better speakers than the ones invited. They are all starwarts in the accountancy profession not only in the Philippines but also in Asean and other countries like Australia and United Kingdom. I was most impressed by a lady speaker who shared her views on how the Asean accountants can benefit from the European experience in capturing our opportunities in the fast-growing economy of the Asean region.

Clearly, she pointed out that the opportunities are here for us to capture and maximize if only we can work closely together amidst our varying degrees of development. I came home last Friday night self-fulfilled after listening to all the speakers during the conference.”

In looking at these opportunities and challenges, one needs to consider the findings of the World Bank and AFA in the “Current Status of the Accounting and

Auditing Profession in Asean Countries” Report of September 2014.

The numerous key areas of difference and factors that are constraining the closing of the “development gap” have to be prioritized and addressed. The report also disclosed that AFA has very “well developed ” member-bodies, as well as “lesser developed” ones.

Under the present situation, with the assistance of the World Bank, AFA could lead in regional capacity building activities though mentoring arrangements for memberbodies that are in the early stage of development. Thus, AFA created Task Force No. 1 “Closing the gaps among member-bodies and supporting them to be members in good standing of the International Federation of Accountants.”

AFA as the key regional accounting organization is expected to be at the forefront in the implementation of the Mutual Recognition Arrangement on Accountancy Services, which was signed in November 2014, in support of the Asean integration. Its vision is to be globally recognized as the body that represents the accountancy profession in the Asean region and its mission is to develop and promote the accountancy profession in support of the socioeconomic development of the Asean member-countries. Its secretariat is based in JI. Singdanglaya No. 1 Menteng Jakarta 1031, Indonesia.

For more information, you may access their web site www.aseanaccountants.org or e-mail to afasecretariat@iaiglobal.or.id or call telephone no (+62-21) 3900-016.

ness.” Mainstream Americans have progressed to the point where we claim the Alis and Abdul-Jabbars and O’Neals and Olajuwons as our own—as, rightfully, American heroes. That’s a very, very generous reading of Trump’s statements, but it also belies the prominent role many of these athletes’ Muslim identities have played in their careers and public personas. One could never accuse Ali or Abdul-Jabbar of hiding their faith to make fans comfortable. For them, as with the Japanese internees, sports have served to bridge two distinct but not incompatible cultural identities, even as society at large has sought to separate them.

But what Trump is proposing would go far beyond stigmatizing contemporary Muslim athletes, like NFL players Muham-

mad Wilkerson and Aqib Talib ,in the eyes of fans who likely never considered these players’ religious views until now. Trump has been inconsistent about whether the ban would apply to US citizens trying to return from abroad.

Would the Denver Nuggets’ Kenneth Faried be denied reentry if he traveled with the team to play the Toronto Raptors? Detroit Lions rookie running back Ameer Abdullah and defensive back Isa AbdulQuddus played the Kansas City Chiefs in London last month—under President Trump, would they have been stuck on the other side of the Atlantic? What about Sarah Attar, a California-born trackand-field athlete who holds dual citizenship with the US and Saudi Arabia, and who made history in

2012 when she became the first woman to represent Saudi Arabia at the Olympics?

Things are clearer regarding Nazem Kadri, a Muslim-Canadian center for the Toronto Maple Leafs: He would effectively be banned from all NHL games not played north of the border. Muslim soccer players are among the best in the world— nearly 100 competed in the 2014 World Cup in Brazil, including big names Mesut Özil and Yaya Toure.

At a time when MLS is struggling to increase the quality and popularity of American soccer, the league can’t afford xenophobic policies limiting the pool of stars from which it can draw. Columbus Crew striker Kei Kamara, a Muslim from Sierra Leone, finished tied for the league scoring title this season. extreme for the next administration?

proof PPP policies and projects.

Projects will face the constant test of changes of leadership.

Any contract for that matter

undergoes rough sailing. The issue is how to go about the changes.

Can the next administration change provisions or cancel contracts on their own without discussion and agreement? Should leaders act as executors and judges at the same time, and rule on the illegality of policies or should the courts be allowed to exercise their mandate?

Should policies be changed or projects abolished just because they do not own the policies or their names are not printed on the billboards?

Changes, therefore, could and in certain instances, should happen. The issue is how and when.

The May 9 presidential elections is just around the corner. Will successor risk be low, moderate, high or

Estelita Aguirre

Atty. Lorna Patajo-Kapunan

legally speaking

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N spite of the protection laws that aim to alleviate the plight of our lumad brothers and sisters, there seems to be a dearth of protection on the ground. Recently, horrifying stories of lumad killings have assaulted the senses and sensibilities of the public, and, yet, the government has done little to address this problem faced by oft-sidelined members of our society.

Let us take a closer look at these indigenous peoples’ rights, especia l ly those r ights relative to their ancestral lands and domains. It has been reported that a good number of these deaths are exactly because, allegedly, of the infighting and punitive actions of groups who wish to occupy and exploit their ancestral lands for mining and illegal logging.

Under the Indigenous Peoples’ Rights Acts of 1997, it is stated that the State shall protect and promote the rights of the indigenous peoples’ economic, social and cultural wellbeing, particularly in relation to their ancestral domains. However, it is curious to note that no specific institutionalized policies have been put in place to give the lumads the cultural protection they deserve and the guarantee of being able to pursue social and economic progress without hurting their heritage.

Fortunately or unfortunately, these indigenous cultural communities’ or indigenous peoples’ ancestral domains are usually rich in minerals, which means that the lumads’ lands are one of the most coveted properties in this country. So coveted these lands are that, apparently, people are willing to kill for it. The lumads are practically helpless against any violent encounter with any group, be it military, or para-military groups. As cited by one writer, the lumads are one of the most venerable and gentle people that it is easy to conceive how they could be ill-treated and abused.

Sure, it is a conceded premise that affirmative action needs to be afforded to our indigenous peoples given the limitations of their

Under the Indigenous Peoples’ Rights Acts of 1997, it is stated that the State shall protect and promote the rights of the indigenous peoples’ economic, social and cultural well-being, particularly in relation to their ancestral domains. However, it is curious to note that no specific institutionalized policies have been put in place to give the lumads the cultural protection they deserve and the guarantee of being able to pursue social and economic progress without hurting their heritage. education and livelihood. However, this should not be taken to mean that the lumads should conform to our standards of “development and economic affluence.” From the outside, it is easy to judge their ways as backward, maybe even not fitting in this modern world, with our sanitizers and draperies, but we should always bear in mind that these indigenous peoples’ way of life is just that, a way of life which is being assaulted from all corners.

Faced with these challenges, it behooves each one of us to help the plight of the Philippines’s indigenous cultural communities, not just for heritage, but also for justice.

For comments, you may e-mail me at lpkapunan@kapunanlaw.com.

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DEBIT CREDIT

he Asean Federation of Accountants (AFA) was established in March 1977 by five accredited association of accountants: Ikatan Akuntan Indonesia, Malaysian Institute of Accountants, Philippine Institute of Certified Public Accountants (PICPA), Institute of Certified Public Accountants of Singapore, now Institute of Singapore Chartered Accountants and Federation of Accounting Professionals of Thailand, to serve as the umbrella organization for the national associations of accounting professionals of the member-countries of the Association of Southeast Asian Nations (Asean).

They were later joined by Brunei Darussalam Institute of Certified Public Accountants, Kampuchea Institute of Certified Public Accountants and Auditors, Lao Chamber of Professional Accountants and Auditors, Myanmar Accountancy Council and Vietnam Association of Accountants and Auditors.

The 10 regular member-bodies of AFA find support from internationally recognized bodies of accounting professionals, which, even though outside the territorial jurisdiction of Asean, are friendly and supportive of the aspirations of Asean. They are referred to as Associate Member Bodies, namely, The Association of Chartered Certified Accountants; Chartered Accountants Australia-New Zealand; Certified Practicing Accountants Australia; and The Institute of Chartered Accountants in England and Wales.

During the 120th AFA Council meeting held in New World Makati Hotel on December 5, the council, through a resolution, approved the applications of Malaysian Institute of Certified Public Accountants and Japan Institute of Certified Public Accountants as its fifth and sixth associate members.

In suppor t of t he for m a l launching of the Asean Economic Community (AEC) on December 31, AFA held its 19th AFA Conference, at the Asian Institute of Management Conference Center in Makati City, hosted by PICPA. Asean is now the center of growth globally. Home to more

Trump’s Muslim ban would be trouble

By Kavitha A. Davidson Bloomberg View

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onald Trump’s call to ban Muslims from entering the US has drawn criticism from across the political and cultural spectrum. His dismissiveness of President Barack Obama’s contention that “Muslim-Americans are our friends and our neighbors, our coworkers, our sports heroes” drew strong rebuttals from two of those very idols: Muhammad Ali and Kareem AbdulJabbar. Trump even apparently failed to think of a single MuslimAmerican sports figure, despite being photographed numerous times with the likes of Ali, Abdul-Jabbar and Shaquille O’Neal.

As much as Trump’s ideas seem at odds with the American ideals of opportunity and liberty, they also reflect an exclusionary strain that has clouded our history, even when it comes to sports. The internment of Japanese-Americans during World War II was one of the darkest periods of the betrayal

of those ideals. Yet, it was also a moment demonstrating how athletics—even that most American of pastimes, baseball—can promote assimilation and help break down cultural barriers.

Baseball was already part of the Japanese-American identity; the community first formed a team in

San Francisco in 1903 and expanded to an eight-team league by 1910.

Many of the internees formed leagues, with second-generation youths playing alongside first-generation professionals. In doing so, baseball’s popularity among Japanese-Americans thrived, simultaneously fighting the injustice they were enduring and countering the notion that these people were somehow less than American, by ingraining such an important and culturally specific aspect of our society, and in turn, bridging the Japanese and American identities. “Putting on a baseball uniform was like wearing the American flag,” one prisoner famously said.

Perhaps that’s why Trump had so much trouble recalling even a single Muslim athlete: their athletic success overshadows their “other-

PPP. . .

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Why will companies invest if there is no certainty of recovery, at the very least, or if their duly executed contracts will be impaired?

Why will they respect procedures if the other party can just unilaterally deviate from the procedures?

Reality is, the private business has no control over successor or political risk. It cannot manage this risk or does not have information to effectively influence this risk.

As a rule, successor risk is borne by government because it is government that can manage, control, influence and mitigate this risk.

This is the commitment expected from all government institutions whether spelled out in the contract.

And successor risk is not the

Monday, December 14, 2015 A11

only risk plaguing PPP projects.

There are 50 or so more risks all bearing pressure on PPP projects.

The challenge now is how to future-

Dean Estelita A. Caleon-Aguirre is AFA president for 2014 and 2015, its first female president. A former deputy commissioner of Bureau of Internal Revenue, a former member of the Board of Accountancy, a former dean of the Institute of Accounts, Busines and Finance of Far Eastern University, a professorial lectureron Taxation at the University of the Philippines,she served as the Executive Director of PICPA from July 2011 to June 30, 2013, during which PICPA was awarded Most Outstanding Accredited Professional Organization of the Philippines (Category A) for two consecutive years.

PPP learn No. 3 plotting successor risk

Let us put your risk assessment skills to a test. Using the graph below, plot successor risk in the Philippines in terms of Likelihood of this risk happening (Certain, Likely, Possible, Unlikely and Rare) and Significance or impact of the risk when it happens (Insignificant, Minor, Significant, Major and Catastrophic).

The correlation of likelihood and significance will yield either low, moderate, high or extreme risk.

Please share your answer with the columnist. E-mail him at alberto.c.agra@gmail.com.

2nd Front Page BusinessMirror

A12 Monday, December 14, 2015

Firms’ equity capital raising may hit ₧200B in 2016–PSE

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By VG Cabuag

he various listed companies should be able to raise equity capital totaling at least P200 billion in 2016 even as executives at the Philippine Stock Exchange (PSE) on Friday gave up on hitting the elusive target this year.

PSE President Hans B. Sicat acknowledged it should take more time for the local stock market to acquire the volume of transactions and the value needed to lift past the P200-billion mark.

Still, he expressed optimism next year’s elections should help boost transactions at the PSE. “So there will be growth in 2016.

Elections are good for consumer spending. [The] media benefits quite well from elections and I think even the current increase in government spending in infrastructure-related projects and all the other infra-related projects of the private sector is going to do well. It means you have a lot of positive multiplier effects for the economy,” Sicat said

of what lies ahead. But while he remains upbeat of the stock market and its prospects next year, he has misgivings on the debilitating impact of an interest-rate hike by the US Federal Reserve seen coming either within the month or soon after.

“We think that’s good [infrastructure-related spending] for our market and even though there might be some effects in the global markets because of interest rate which is starting in the US Federal Reserve.”

The reason why the target P200billion capital funds raised from the market has proven elusive the past many years is because companies prefer other modes of fund-raising activities, such as the bond market or via bank loans. So far, funds raised from the equities market aggregated P182 billion. Sicat reiterated the PSE may end the year at only P185 billion.

Thus far, only four companies listed at the PSE, or less than half of

the PSE’s target of 10 every year, as companies called off their planned initial public offering due to volatility in the market.

Sicat said the Espiritu family’s construction firm Datem Inc. and DM Wenceslao and Associates Inc. require a capital boost and may proceed with their stock sales and help give the PSE the necessary push.

Other smaller firms wanting to go public have already been processed by the Securities and Exchange Commission but failed to make it in time for the PSE’s final board meeting last week.

Leonardo Arguelles, managing director at Unicapital Inc., said the unexpected adjustments by fiscal and monetary officials in China resulted to a miscalculation of the anticipated profits at the PSE. “It’s a disappointment, we’re hoping that we’ll hit about 15 percent this year,” he said.

GLOBE NEEDS 20 MHz OF UNUSED 700-MHz BAND. . .

because that’s for coverage. Ideally, we should split up evenly 30-30-30, even with 1Networks with no customers,” he said.

The two incumbent telecommunications companies in the Philippines are seeking National Telecommunications Commission intervention for the recall and auction of portions of

the frequency band.

Currently, San Miguel holds the right to operate the entire frequency band: with Liberty Telecoms Holdings keeping 80 MHz; High Frequency Telecommunications with 10 MHz; and New Century Telecommunications, 10 MHz. San Miguel is expected soon to

sign a deal with Telstra Corp. Ltd. when it debuts in Manila in 2016, promising to deliver better Internet services than the competing incumbents. The Australian giant plans to invest roughly $1 billion in a wireless joint venture with the diversified conglomerate. The Filipino diversified conglomerate

Continued from A1

is expected to hold 60 percent of the proposed business—requiring it to invest as much as $1.5 billion—while the remainder will be held by Telstra. Telstra is known as one of the first few telcos to have successfully capitalized on the 700-MHz band anywhere on the planet.

www.businessmirror.com.ph

MORE FILIPINOS SAVING MONEY FOR RAINY DAYS IN Q4–BSP SURVEY

By Bianca Cuaresma

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ignificantly more Filipinos reported having set aside a portion of their earnings as savings in the final three months, or precisely that period when most engage in a hedonistic puchase of consumer goods.

In a recent survey, the Bangko Sentral ng Pilipinas (BSP) said the number of households that consciously set aside something for the proverbial rainy day in the fourth quarter increased to 30.2 percent, from 28.9 percent a quarter earlier.

This development paralleled the buoyant consumer outlook revealed in the fourth quarter and attributed by the monetary authorities to brisker buying activities in the weeks leading to the long Christmas holidays.

“According to respondents, they save money for the following reasons: emergencies, education, health and hospitalization, retirement and business capital and investment,” the central bank said.

Across geographical distribution, the BSP also said the increase in savings rate was driven largely by the volume increase in the number of avers in areas outside the National Capital Region.

Meanwhile, across income groups, the middle-income bracket posted the biggest increase relative to the previous quarter. This was consistent with their less optimistic outlook on family finances, economy and income during the current quarter.

About two-thirds, or 66.6 percent, of household savers reported owning bank-deposit accounts. A total of 40.1 percent kept some of their savings at home, while 32.7 percent put their money in cooperatives, in so-called paluwagan and other credit or loan association units.

For the first quarter of 2016, there was an increase in respondents who said they plan on setting aside money as savings.

In particular, prospective savers looking to set aside money next year increased to 41.5 percent, from 36.2 percent a quarter earlier.

These developments came at a time when consumer confidence across the $285-billion economy improved significantly to minus 8.1 percent in the fourth quarter this year, from minus 11.6 percent. Consumer confidence was highest in the second quarter of 2013, when this averaged minus 5.7 percent, based on BSP data.

House to ratify ₧3-T budget for next year

By Jovee Marie dela Cruz

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he ratification of the 2016 P3.002-trillion national budget and the termination of period of interpellation on the proposed Bangsamoro basic law (BBL) will be on top of the agenda at the House of Representatives starting Monday.

House Majority Leader and Liberal Party Rep. Neptali Gonzales II of Mandaluyong said the lower chamber will ratify the 2016 General Appropriations Act and complete the period of interpellation before Congress goes on Christmas break on Wednesday.

“The budget bill is very crucial to nation’s delivery of services. We will ratify the budget bill and send this to Malacañang for the signature of the President,” Gonzales said.

The legislator also expressed confidence the lower chamber is able to muster a quorum for the proposed measures.

Under the 2015 budget, the social services sector continues to get the largest share of the budget at 36.8 percent, or P1.106 trillion.

The economic services will get the second-largest share of the budget at

27.6 percent, or P829.6 billion, while general public services will receive 17.3 percent, or P517.9 billion.

The debt burden, which is composed of interest payments to service outstanding debts, as well as net lending to government corporations, will reach an all-time low of 14 percent of the total budget, or P419.3 billion.

To boost the government’s capacity to preserve territorial integrity, the defense sector will get a share of 4.3 percent of total budget, or P129.1 billion.

Gonzales said the lower chamber will finish at least the period of interpellation on BBL. “To terminate the period of interpellations on the BBL before we go on Christmas break is a very realistic timetable,” the lawmaker said.

At least 15 lawmakers plan making an interpellation as the BBL is taken up.

The BBL aims to create the new Bangsamoro juridical entity to replace the Autonomous Region in Muslim Mindanao.

Gonzales said the House leadership eyes passing the BBL when the sessions resume on January 19, 2016.

See “Budget,” A2

it’s that time again A man fidgets with a lantern made of bamboo, locally known as parol, in Las Piñas City. Such are sold for P60 if without the fancy lights inside and for much more, at P100, if with it. NONIE REYES

Stocks around the world fall as investors fear slide in oil prices

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EW YORK—Another drop in the price of oil rattled stock investors around the world on Friday, with steep losses in Europe and the US, where a major market index ended its worst week since the summer.

The selling in the US was broad, with all 10 sectors of the Standard and Poor’s (S&P) 500 index ending down. Oil and gas companies lost the most. Southwestern Energy plunged 14 percent and Chesapeake Energy sank 9 percent.

Investors sought refuge in bonds. Treasury prices rose, sending yields lower. Another measure of anxiety, the so-called Vix

index, jumped. It is now up 70 percent in just five days.

Investors worry the sharp fall in the price of oil and other commodities is a sign of weakness in the global economy, especially China, and that will cut into profits at big energy producers and suppliers of raw materials, as well as other companies.

“We’re stockpiling commodities and demand is not picking up,” said Tim Courtney, chief investment officer of Exencial Wealth Advisors. “It’s kind of a depressing market.”

Investors are looking ahead to a Federal Reserve meeting next week where the central bank is widely expected to announce an

increase in its benchmark interest rate from a record low.

Recent economic reports indicate that the US economy is healthy enough to withstand a rate hike, but investors are still nervous because it would be the first rate rise in nearly a decade.

Investors are also focusing on a batch of reports illuminating the state of China’s economy, which has been struggling with a stubborn slowdown in growth.

Statistics released in Beijing on Saturday provided reasons for optimism as China’s retail sales in November rose 11.2 percent from the prior year, the largest jump of

2015. Factory output increased 6.2 percent in November, the biggest gain since June.

But real-estate investment remained weak, edging up just 1.3 percent during the first 11 months of the year. China’s government is scheduled to release another key report on foreign direct investment on Wednesday.

The trouble on Friday began with a report from the International Energy Agency that said the oversupply in oil would persist until late next year even as demand continues to weaken. Benchmark US crude plunged $1.14, or 3 percent, to close at $35.62 a barrel in New York. It has been falling for one-and-a-half years and is now at its lowest level since early 2009.

By the end of the day, the S&P 500 index had lost 39.86 points, or 1.9 percent, to 2,012.37. It was down 3.8 percent for the week, its worst showing since August.

The Dow Jones industrial average lost 309.54 points, or 1.8 percent, to 17,265.21.

The Nasdaq composite declined 111.71 points, or 2.2 percent, to 4,933.47.

In Europe, Germany’s DAX lost 2.4 percent, Britain’s FTSE 100 dropped 2.2 percent and France’s CAC 40 shed 1.8 percent.

Investors were also rattled by trouble in a risky corner of the credit markets where bonds from heavily indebted companies are traded. AP