For close to five decades, the Philippine International Convention Center (PICC) has been a witness to history, as well as to the personal stories of the generations of Filipinos, local and foreign dignitaries, and guests that have walked through its halls and venues. Listening to individuals that have witnessed the PICC’s evolution, one comes to...
Category: Business
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Estate tax may now be paid in installments and online
Instead of a one-time payment that many find difficult to comply with, heirs may now pay in installments the estate tax due the property they inherited from relatives. They may also stagger the payments over a two-year period. Heirs even have the option to settle the amount online with an accredited bank of the Bureau...
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Gov’t can ill afford Palace’s ‘populist’ policies on rice, says ex-finance official
The Marcos administration’s imposition of a price cap on rice and new prices for palay as well as its subsidy for rice retailers could be “costly” to the government, according to resigned finance undersecretary Cielo Magno. The government can ill afford the costs arising from the three policy packages because these are not part of...
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Tarlac rice farmers, retailers suffering losses due to price cap
Rice farmers and retailers are incurring heavy losses from the price cap imposed starting on Sept. 5 on regular-milled and well-milled rice even as it brings temporary relief to consumers. Executive Order No. 39 (EO 39) set the price of regular-milled and well-milled rice at P41 and P45 a kilo, respectively, amid soaring prices of...
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Transport groups ‘will continue to make noise’ vs modernization plan
Two transport strikes have been called this year in protest against the government’s so-called public utility vehicle modernization program (PUVMP), which is aimed at replacing aging jeepneys with environment-friendly but much more expensive minibuses. Following two days of a planned weeklong strike in March, leaders of transport groups Manibela and Piston were called to a...
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Death by drowning in Laguna de Bay
Friday on ANC, the skipper of the Aya Express, Donald Anain, recounts what happened in the waters of Laguna de Bay off Binangonan, Rizal, on July 27. Snippets of the tragedy were reported by some survivors a day earlier, more or less jibing with Anain’s account of how, buffeted by strong winds, the motorized banca...
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In Hong Kong, gov’t falls short of protecting Filipino workers from debt burden
This report on OFWs debt burden is being republished with PCIJ’s permission. —Ed. (Last of two parts) Many Overseas Filipino workers (OFWs) in Hong Kong are hounded by their lenders from the Philippines, who even hire debt collectors to threaten and harass their employers. The Philippine Center for Investigative Journalism (PCIJ) found that Hong Kong...
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Overseas Filipino workers are harassed, even jailed, for loans they’re forced to make to get jobs abroad
This report is being republished with PCIJ’s permission. —Ed. (First of two parts) In 2022, “Jessica” tried to apply for a local job and went to a police station to request a clearance certifying she has no criminal record. But she was arrested and thrown in jail right then and there. She had no idea...
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The state of our nation
My students found it very difficult to identify two of the current administration’s notable accomplishments in public finance. I can appreciate their difficulties. The budgetary deficit in 2022 was a staggering P1.61 trillion, or 7.33% of GDP. Government spent P5.16 trillion last year but raised only P3.54 trillion in revenues. I cannot help but wonder why...
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‘Green lanes’ directive seen to speed up $1.2-B floating solar project
SunAsia Energy Inc. and its partner and investor Blueleaf Macquarie Capital have been recognized as the first beneficiary of President Ferdinand Marcos Jr.’s Executive Order No.18 “constituting green lanes for strategic investments.” At the ceremonial launch of the green lanes attended by the President and held at Sofitel Philippine Plaza Manila last July 13, the...