May inflation likely within 5.8 to 6.6% range: BSP

PBBM welcomes Thai firm’s $2.5-B investment pledge to boost agri

President Ferdinand R. Marcos Jr. welcomed Tuesday the plan of Thailand conglomerate Charoen Pokphand Group (CP Group) to invest about USD2.5 billion (PHP140.8 billion) to further boost the Philippines’ agriculture sector.

The investment pledge was discussed when Marcos met with officials of CP Group, led by its chairman Soopakij Chearavanont, at Malacañan Palace in Manila, Communication Secretary Cheloy Garafil said.

Garafil said the CP Group’s expansion plans involve the use of new technologies, covering swine (USD1.3 billion), poultry (USD280 million), shrimp (USD800 million), and food (USD120 million).

During the meeting, Marcos said the CP Group’s goal of bringing “state-of-the-art” technology to the country is what he wants to be replicated in the Philippines.

“We’re very impressed with the new technologies that you use. I remember you told me that each plant farm you build is different from the last one because you immediately incorporate and adopt new techniques in technol- ogy,” Marcos told the CP Group executives, as quoted by the Presidential Communications Office (PCO).

Inflation for the month of May likely settled with the 5.8 to 6.6 percent range, the Bangko Sentral ng Pilipinas said on Wednesday.

“Learning new things and applying new things, that’s the only way I think to compete as well. CP Group has done so well... to be a state-of-the-art company.”

During the meeting, the CP Group sought the Marcos administration’s assistance in locating suitable land covering about 400 hectares for aquaculture (shrimp) and 300 hectares for swine and poultry, including eggs.

The group also wants the use of modern technology to fulfill the whole upstream and downstream raw materials up to the finished product for the market and future exports.

Marcos said the country also has the raw materials and a good labor force to complement available technology to boost the value chain in the agriculture sector.

“Even in terms of the ecosystem of agronomists and agriculturists, experts in fisheries, experts in rice, in broiler production… we have many people who are very, very good. It’s the system that we need,” he said.

May’s consumer price index (CPI) could ease further or remain steady at 6.6 percent, based on the month-ahead inflation forecast of the BSP.

In a statement, the central bank said higher prices of rice, vegetables and other key food items as well as the increase in LPG and Meralco electric rates are the primary sources of upward price pressures for the month.

Meanwhile, the cumulative rollback in domestic petroleum prices as well as lower poultry and fish prices as well as electric- ity rate in various regional power distributors could lead to lower inflation for the month, it added.

“Going forward, BSP will continue to monitor developments affecting the outlook for inflation and growth in line with its data-dependent approach to monetary policy formulation,” it said.

If May inflation is lower than 6.6 percent, it would be the 4th straight month of deceleration.

Gov’t saves P205-M in energy efficiency, conservation: DOE

The Department of Energy (DOE) reported on Tuesday that the government has saved PHP205 million by implementing energy efficiency and conservation (EEC) initiatives as of the end of March.

In a statement, the DOE said this is equivalent to 20 million kilowatt-hours (kWh) of electricity savings since the enactment of the Republic Act (RA) No. 11285 or the EEC Act in 2019.

Under the EEC Act, the public sector shall implement the Government Energy Management Program (GEMP).

The GEMP targets to cut electricity and fuel consumption in all government offices by at least 10 percent through EEC strategies, such as shifting to light-emitting diode (LED) lamps, inverter-type air conditioners, and other energy-efficient technologies.

“We commend the efforts of our government agencies in implementing energy efficiency measures. Small acts and what appears to be minor could indeed drive significant impact, especially when the entire bureaucracy, including the local government units (LGUs) and state universities and colleges

(SUCs), would adopt behavioral changes and imbibe energy conservation as a way of life,” Energy Secretary Raphael Lotilla said.

The DOE said before the EEC Act, the government’s energy savings stood at 5 million kWh, or equivalent to PHP51 million from 2017 to 2019.

The implementing rules and regulations (IRR) of the EEC Act became effective on Dec. 21, 2019.

RA 11285 also established the Inter-Agency EEC Committee (IAEECC) that will annually assess the implementation of the law, FGOV’T, P10

In the Gospel of Matthew (chapter 19, verse 14), Jesus rebuked his disciples for turning away a group of children. He told them, “Suffer little children, and forbid them not, to come unto me: for of such is the kingdom of heaven.”

Despite the recognition of government and even the plea from Jesus Christ, children are still suffering – especially those who are working. In simpler terms, child labor which the United Nations Children’s Fund (UNICEF) defines as “exploitative labor among children below 17 years of age.”

Now, the good news. From 2018 to 2022, the regional office of the Department of Labor and Employment (DOLE) reported that it has “withdrawn” 19,455 children from child labor. That’s 77.58% of the 25,077 children profiled by the department’s Child Labor Prevention and Elimination Program across the Davao region.

Most of the child laborers were engaged in “hazardous working conditions” in agriculture, mining, domestic labor, and other sectors.

One of the reasons why these children were withdrawn from child labor is due to age. Once they reach the age of 18, they are no longer considered child laborers. Some children