BusinessMirror July 26, 2021 by BusinessMirror

Boxer Magno advances; turn of Diaz, Didal on Monday TOKYO OLYMPICS MEDAL COUNT RANK

TEAM/NOC

GOLD SILVER

BRONZE TOTAL

People’s Republic of China

Japan

United States of America

Republic of Korea

R0C

Italy

Australia

Tunisia

Austria

Ecuador

Hungary

Islamic Republic of Iran

Source: Olympics.com | Full table at businessmirror.com.ph

By Jun Lomibao

Sports Editor

OKYO—Irish Magno was impressive in her Olympic boxing debut and Cris Nievarez closed out his campaign with a loss but opened a massive window of opportunities in rowing in the Tokyo Olympics on Monday. Magno dominated Kenya’s Christine Ongare, 5-0, to become the second Filipino to advance to the round-of-16. She was the taller boxer in the

1 As of July 25, 2021

women’s flyweight bout, but nevertheless flashed skills she badly needs in her next fight against world No. 1 Lin Yu-ting of Chinese-Taipei. Using a “bread-and-butter” tactic her coaches coined for head and body punches, Magno didn’t give Ongare any room to fight back, scoring the lopsided win to prep herself up against topseeded Lin, who she faces on Wednesday. “I fought following my coaches’ instructions,” said Magno, who followed

women’s featherweight bet, world champion Nesthy Petecio, in the round-of-16. Nievarez was fifth in his group in the quarterfinals, a loss that was expected of the 21-year-old Olympic firsttimer who held fort against bigger and more experienced opponents from the other side of the globe. And now, everybody wants Nievarez to go home and start training for Paris 2024. “The experience I gained here will help me train and

become better,” he said. “My Tokyo experience has boosted my desire to become strong in my sport.” On Monday, the spotlight will be on Rio 2016 weightlifting silver medalist Hidilyn Diaz and skateboarder Margielyn Didal. They will shoot for gold medals in the hope of negating the surprisingly disappointing performance that hounded gymnast Carlos Yulo in floor exercise on Saturday night. More Olympics Stories on A10.

(2017, 2018, 2019)

DOF: 2022 BUDGET HAS P45B IN VACCINE FUNDS

w w

Monday, July 26, 2021 Vol. 16 No. 285 n Friday, July 23, 2021 Vol. 16 No. 282

P25.00 P25.00nationwide nationwide||32sections sections26 24pages pages||

CONCEPCION: MOBILITY BY Q4 KEY TO REBOUND

A RESIDENT of Bacoor, Cavite crosses the Prinza Dam using a makeshift bridge to get to Las Piñas City at the weekend. The bridge serves as shortcut for residents of the two cities, but there is apprehension about the risks of being swept away when a typhoon and monsoon rains—such as what lashed the nation the past week—deepens the water. NONIE REYES

By Bernadette D. Nicolas

@BNicolasBM

INANCE Secretary Carlos G. Dominguez III said the government already has P45 billion in place in next year’s budget for the purchase of additional Covid-19 vaccines. Dominguez assured President Duterte late Saturday night that the government has the money to secure Covid-19 vaccines not only for this year but also for next year. See “MSMEs,” A2 said that The finance official

for 2021 they expect to receive a total of 65 million doses from July 1 to September and around 55 million doses by the end of the third quarter. Continued on A2

R ESIDENT I A L Adv iser for Entrepreneurship Jose Maria A. Concepcion hopes the heightened restrictions due to Covid-19 Delta variant cases will not last long because easing mobility, especially by the fourth quarter, is crucial for economic recovery. The Go Negosyo founder said in a recent briefing that placing Metro Manila and other provinces under general community quarantine (GCQ) with heightened restrictions will take a toll on the businesses’ operations due to limited allowed capacity. “Siyempre, malaking effect iyan. Now, hopefully, hindi ito pangmatagalan [Of course, it has significant impact. Now, hopefully, it will not last long],” Concepcion said. He said the current situation should improve by the fourth

quarter to allow for an economic rebound. The last quarter is the most critical, Concepcion pointed out, noting that it will be the last chance this year for businesses to recoup their losses accumulated over the last months. “So we feel that the fourth quarter, because of election spending, because of consumer spending and of course, the stimulus, [are a big boost for the entrepreneurs],” the presidential adviser explained. Concepcion said the struggling businesses should be given said support by the last quarter to avoid starting 2022 with a setback. Trade Secretary Ramon Lopez said in a recent briefing that the Covid-19 task force is maintaining a balance on allowing business activities and restricting mobility to curb the spread of coronavirus. See “Concepcion,” A2

Lib bills, Covid response in last Congress leg By Jovee Marie N. dela Cruz @joveemarie

O help the country’s economic bounce-back, the 18th Congress will highly prioritize the Duterte administrationbacked measures liberalizing sectors of the economy and Covid-19 response bills in its third and last regular session, which will resume on July 26, Monday. Majority Leader Martin Romualdez and House Committee on Economic Affairs Chairperson Sharon Garin assured the public that the lower chamber is exerting all efforts to build a “resilient economy”

post pandemic through long-term economic and industry reforms. With this, the two House leaders said these three certified bills are now in the Senate court: the New Public Service Act (PSA) or House Bill 78, Foreign Investments Act (FIA) or House Bill 300, and Retail Trade Liberalization Act (RTLA) or House Bill 59. The bills have been approved on third and final reading in the House. Garin said the House economic cluster is resolved to help the recovery. “We’ve always been consistent that we need to address the conSee “Longer,” A2 traction. How do we recover from

PESOExchangE EXCHANGEratES RATES nn US US 50.3120 50.2350 n n jaPan JAPAN 0.4562 0.4562 nnUK UK 69.0180 69.1435 n n hK HK6.4725 6.4647 nnchIna CHINA 7.7780 7.7642 n n SIngaPOrE SINGAPORE 36.8965 36.9647 PESO

Covid?” she said. Garin said these liberalization measures are vital. “We need more investors. We are trying to push for more investments, not only Filipino investments, but also foreign investments.” Economic liberalization will boost the Covid-19 response programs and bring new economic opportunities for Filipinos. Allowing the transfer of technologies and know-how from advanced countries will help catalyze economic development and the productivity of the local workforce, she added. For his part, Camarines Sur Rep. Luis Raymund Villafuerte said

these measures could help the country in current recovery efforts and hasten the return to its pre-Covid path of high and inclusive growth. Villafuerte said amendments to the FIA, RTLA and the PSA would at once liberalize the restrictive economic rules for foreign corporations, thereby encouraging overseas investors to do business in the Philippines or expand their current enterprises here “The three bills certified as urgent by President Duterte are doable reforms that aim to instantly make the economy more attractive to investors. See “Lib bills,” A6

n aUStralIa AUSTRALIA 37.0246 37.1739 n 1467 n n n EU EU 59. 59.3581 n SAUDI SaUDIARABIA arabIa 13.3935 13.4147 Source: Source:BSP BSP(July (July23,22,2021) 2021)

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A2 Monday, July 26, 2021

Manila, Tokyo set virtual meeting on status of infra, Covid aid plans

By Bernadette D. Nicolas

@BNicolasBM

HE Philippines and Japan are set to discuss this week the status of Japan-funded projects under President Duterte’s “Build, Build, Build” program as well as Japan’s assistance to the Philippines’s Covid-19 response, including its mass vaccination program.

High-le ve l Ph i l ippi ne a nd Japanese officials will be holding their 11th virtual meeting on infrastructure development and economic cooperation on Wednesday (July 28) amid travel restrictions arising from the prolonged pandemic. Finance Secretary Carlos G. Dominguez III and Socioeconomic Planning Secretary Karl Kendrick Chua will chair the meeting for the

Philippine side while Dr. Izumi Hiroto, Special Advisor to the Prime Minister, will head the Japanese delegation. The virtual meeting is expected to focus on the progress of the first phase of several Japan-supported projects, such as the Metro Manila Subway Project, Philippine Railways Institute, Metro Rail Transit 3 (MRT-3) Rehabilitation Project, Davao City Bypass Con-

Concepcion…

In doing so, Lopez said they focus on permitting essential activities while banning non-essential activities that are usually a so-called super spreader event. The Department of Trade and Industry (DTI) chief previously said

Continued from A1

that micro, small and medium enterprises (MSMEs) cannot afford to have another major lockdown. Lopez said these sectors are worried already because their cash flows have been depleted following the imposition of enhanced community quarantine in

struction Project, Central Mindanao Highway Project, NorthSouth Railway Project, Parañaque Spillway Project, Metro Manila Priority Bridges Seismic Improvement Project and New Clark City. Apart from the status of Japan-funded projects, the meeting will tackle updates on the Mindanao peace process, which Japan has been actively supporting through the framework of the Japan-Bangsamoro Initiatives for Reconstruction and Development (J-BIRD). Both countries will also talk about Japan’s assistance to the Bangsamoro Autonomous Region in Muslim Mindanao and Japan’s support for the rehabilitation and reconstruction of Marawi City and its surrounding areas. Earlier this month, the Philippines received Japan’s donation of over 1 million AstraZeneca doses. According to the Department of Finance, the Japanese government has also been closely cooperating

with Philippine officials to help contain the spread of Covid-19. The Japan-backed projects to help curb the spread of the virus include the Covid-19 Crisis Response Emergency Support Loan (CRESL), the Post-Disaster Standby Loan Phase 2 (PDSL 2), the joint clinical trial for the anti-flu drug Avigan, procurement of medical equipment and establishment of laboratory surveillance sites, and the development of a cold chain system in the Philippines. This is the second time the Japan-Philippines Joint Committee on Infrastructure Development and Economic Cooperation will be convened online. The 10th meeting on October 28 last year was virtual. Before the pandemic struck, the joint committee met alternately in Japan and the Philippines. The panel first convened in March 2017 in Tokyo, while its latest face-to-face meeting was in Hakone in December 2019.

2020 and just earlier this year. If there will be another massive lockdown, Lopez said that small businesses will be forced to trim their workforce or temporarily close operations. As such, the trade official said that imposing granular lockdowns is the way to go as much as possible. According to a June survey by DTI, the number of businesses that

closed operations slowed down to 10 percent from a peak of 40.20 percent in August last year following the easing of mobility restrictions. Less than half or 44 percent of the MSMEs surveyed have maintained full operations while the remaining 46 percent are only partially operating. The June data also showed that 53.8 percent of the MSMEs reported decline in sales. Tyrone Jasper C. Piad

AFP units end 1-month mourning for PNoy

HE military on Saturday simultaneously culminated its month-long mourning for the late President Benigno Aquino III, whom soldiers credited for their march toward modernization. The ceremony marking the end of the 30-day mourning for the former Commander in Chief was participated in by all units of the Armed Forces of the Philippines across the country. Aquino, under whose term the military crafted its three-phase modernization—with the first phase implemented in the middle of his term—died of renal failure on June 24 at the age of 61. In Mindanao, Armed Forces Western Mindanao Command spokesman Lt. Col. Alaric Avelino delos Santos said that officers, enlisted personnel, and civilian members of the command took part in the ceremony at around 4:30 p.m. A three-volley salute was simultaneously carried out to honor Aquino, who was popularly known as “Noynoy.” “The men and women of the AFP offer the Former President and Commander-in-Chief our final snappiest salute,” Gen. Cirilito Sobejana, chief of staff of the Armed Forces of the Philippines, said in a message read for him by Westmincom’s deputy commander for operations Brig. Gen. Arturo Rojas. According to delos Santos, the removal of mourning band was also performed during the ceremony. Mourning band is a black band worn on the sleeve of the military uniform as a sign of respect and mourning for a fallen ex-Commander in Chief “As the mandated defenders of the state and the Filipino people, it shall be our distinct honor and privilege to carry on with the Former Commander-in-Chief ’s aspiration of a truly peaceful and progressive Philippines,” Sobejana said. “President Benigno Aquino III’s initiatives and advocacies to professionalize and modernize the Armed Forces of the Philippines shall not be forgotten,” he added. The ceremony ended with the lowering of the national flag. Rene Acosta

www.businessmirror.com.ph

DOF: 2022 BUDGET HAS P45B IN

VACCINE FUNDS Continued from A1

The government also expects the Covid-19 Vaccines Global Access (Covax) Facility to deliver a maximum of 49 million doses this semester to complete the 171 million doses expected to be received by the country for 2021. “Those 171 million is more than enough to vaccinate the entire adult population of the Philippines and the money is already available for that, okay. So there is no problem with the money for this year. Now, for next year, we will just have— we just had a meeting with [Budget] Secretary [Wendel] Avisado and [Health] Secretary [Francisco] Duque yesterday [Friday], and we noted that we have in the budget for next year already 45 billion pesos for additional vaccinations,” Dominguez said at Duterte’s televised meeting with selected Cabinet officials and members of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF). Dominguez gave the assurance on fund availability and timely delivery of vaccines in response to the recommendation of medical experts for the government to accelerate the vaccination program to protect Filipinos from the more virulent Delta variant. However, Dominguez said the government has yet to determine whether the money will be used for booster shots or another set of vaccinations. “Whatever it is, please tell us so that we can—we can properly allocate these funds,” Dominguez said. The DOF chief expressed confidence that the government can finance its Covid-19 response efforts even beyond 2022, citing the administration’s fiscal prudence. “Mr. President, I don’t think we’re good only until six months. I think we are good beyond 2022. So it’s not going to be easy but because of the moves that you have made from 2016 to 2019, we are ready to handle this problem financially. And that is due to you, Mr. President,” Dominguez said. Dominguez earlier said the government needs an additional P75 billion to vaccinate adolescents aged 12 to 17 and to acquire Covid-19 vaccine booster shots for both adults and adolescents. The finance chief also earlier estimated that an additional expenditure of about P20 billion is needed

to vaccinate approximately 15 million children aged 12 to 17. Apart from this, acquiring booster shots for next year for about 85 million teenagers and adults will cost the government about P55 billion, he said. Budget officials did not immediately respond to queries on the source of P45 billion in funds in the 2022 budget, but Dominguez earlier said the national government would most likely “need to reallocate funds” for it to finance these additional vaccination expenses while maintaining an acceptable fiscal deficit. President Duterte earlier signed Administrative Order (AO) 41 ordering agencies under the Executive branch to identify “savings” from their released appropriations under the 2020 national budget.

Bayanihan 2

IN the same meeting, Dominguez also said unspent funds under Bayanihan 2 of about P6 billion accounts for only a fraction of the P665.72 billion released by the Department of Budget and Management (DBM) for the Covid-19 response. In the meantime, they are urging departments to spend the remaining funds. “Now, the Department of Budget [and Management] and ourselves, are going to each department to see where the 6 billion is. But, Mr. President, this is one percent problem. In relation to what we have released of P660 billion, this is one percent, okay, and we are sure that it will be released. But in the meantime, we are asking each department to push to really spend the money,” Dominguez said. The validity of appropriations under Bayanihan 2 expired on June 30. After that time, unobligated funds shall be reverted to the Bureau of the Treasury. The DBM earlier reported an unobligated amount of P6.487 billion of the total P141.59 billion released allotment for special appropriations under Bayanihan 2 as of June 25. The figures in the Bayanihan 2 status utilization report were highly dependent on the submission of agencies. Despite appeals from various groups, President Duterte did not call Congress to a special session to extend the validity of appropriations under Bayanihan 2.

‘Senate coup’ floats ahead of Sona, but no numbers yet

ENATE President Tito Sotto III faced an ouster plot soon after announcing his plan to run for vice president in tandem with Senator Panfilo Lacson in the 2022 national elections. Lacson said the Senate President himself informed him about a brewing leadership coup plot, citing tips that an ouster resolution is now being circulated for senators’ signature and was planned to be formalized when plenary sessions resume on Monday (July 26). Sotto, however, has given assurances he is ready to step down from the top Senate post as soon as he formally files his candidacy in October, indicating there was no need for the senators plotting his ouster to produce the numbers needed to install a new leadership. At the same time, Majority Leader Juan Miguel Zubiri in a radio interview played down talk of leadership change as something that is “common just before a Sona [State of the Nation Address of the President before a joint session of Congress],” but added he is certain that Sotto will remain Senate President. Reports reaching Senate sources

indicated that the current leadership had already affirmed they expected such a plot to be formalized soon as Sotto formally declares his candidacy for vice president. According to Lacson, the ouster plot being hatched by some allies in the majority bloc is likely still having difficulty mustering 13 votes. He, however, declined to name the senators seeking Sotto’s early ouster, even as they assured they are not taking this against their colleagues, as a leadership change is “part of democracy.” At the same time, Lacson affirmed he and Sotto “will not fail the Filipino people.” Lacson said this is their rallying cry as they “seek to restore Filipinos’ trust in the government.” “I will not fail you. I will not fail the Filipino people. We will not fail you. This is our last hurrah in public service, there is no room for selfish interests or personal motives,” Lacson said in an interview on DWIZ radio Saturday. “We have no other agenda. Considering our age and track record in public service, we have something to offer the Filipino people,” he added. Butch Fernandez

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Monday, July 26, 2021 A3

Govt detects 55 more Delta variant cases amid fears of spike

By Claudeth Mocon-Ciriaco & Jovee Marie N. Dela Cruz

@claudethmc3 @joveemarie

N additional 55 Delta variant cases were detected by the University of the Philippines-Philippine Genome Center (UP-PGC) in the latest batch of whole genome sequencing, the Department of Health (DOH) reported on Sunday, amid fears that Covid19’s more transmissible variant is fast spreading. The new batch brings the total Delta variant cases to 119.

The DOH said 94 Alpha (B.1.1.7) variant cases, 179 Beta (B.1.351) variant cases and nine of the P.3 variant cases were also detected. Of the 55 new Delta variant cases, 37 are local cases, 17 are Returning Overseas Filipino (ROFs), and one case is currently being verified if this is a local or ROF case. Of the 37 local cases, 14 were from Calabarzon, eight from Northern Mindanao, six had an indicated address in the National Capital Region (NCR), six from Central Luzon, two from Davao Region, and one from the Ilocos Region. One case has died while 54 cases were tagged as recovered.

Variants

OF the additional 94 Alpha variant cases detected, 87 are local cases, one ROF, and six are currently being verified if they are local or ROF cases. Based on the case line list, one remains active, two cases have died, and 91 cases have been tagged as recovered. This brings the total Alpha variant cases to 1,775. Of the additional 179 Beta variant cases, 168 were local cases, four were ROFs, and seven cases are currently being verified if they are local or ROF cases. Based on the case line list, two are still active, one died, 175 have been tagged as recovered, and one

DENR asks Manila Bay LGUs to regulate fish pens, cages By Jonathan L. Mayuga @jonlmayuga

NVIRONMENT and Natural Resources Secretary Roy A. Cimatu on Sunday appealed to concerned local government units (LGUs) particularly in the Manila Bay region to strictly enforce environmental laws, particularly the Philippine Water Code to prevent water pollution while helping secure the livelihood of fishing communities. The Manila Bay region consists of four coastal provinces, namely Bataan, Bulacan, Cavite, and Pampanga. Many fishing communities in coastal towns in Cavite, Bataan and Bulacan are known for raising tilapia and milkfish as well as farming mussel and oysters. Cimatu said the proper implementation of the Philippine Water Code and local policies and ordinances is needed to protect and conserve the country’s water resources, while helping secure the livelihood of families relying on fishing. The chief of the Department of Environment and Natural Resources (DENR), head of Task Force Build Back Better and the interagency Manila Bay Task Force came upon fish cages and makeshift houses built on the municipal waters of Cavite, which is part of the Manila Bay, during a visit to the province on July 16. “The municipal waters are being managed by the mayor. If there are fish cages, these should have permits. Without a permit from the

mayor, these are unauthorized,” Cimatu said. “If these fish cages are regulated, it will avoid bamboo poles from being swept to the Baywalk in Manila especially during the habagat or southwest monsoon, and during the typhoon season,” he added. The DENR chief noted that bamboo poles are among the trash that swept and washed up to the shoreline of Manila Bay. Cimatu said the high coliform level in the municipal waters can also be traced to the makeshift houses built next to the fish cages. “The caretakers of the fish pens live there, thus it is possible that because of inadequate or non-availability of sanitation facilities, the coliform level has exceeded the standard value,” Cimatu said. “While we would like to encourage their livelihood, it should not be at the expense of destroying the environment,” he added. Cimatu also emphasized that the local chief executives should abide by Republic Act (RA) 9275 or the Philippine Clean Water Act of 2004 and RA 9003 or the Ecological Solid Waste Management Act of 2000, or face suspension. “At least now, many LGUs are complying. Still, the government can file cases if needed,” he said. The DENR chief remains hopeful that the Manila Bay rehabilitation will be finished in six or seven years but the cleanup in the portion of Metro Manila can be accomplished by the end of 2021 or in the remaining six months of 2022.

outcome which is currently being verified. The total Beta variant cases are now at 2,019. The additional nine P.3 variant cases are local cases who have been tagged as recovered. The consecutive releases of several batches of whole genome sequencing results over the past week are a result of the added resources being provided to the DOH, UP-PGC, and UP-National Institutes of Health for Covid-19 biosurveillance. Samples with more recent collection dates and those from areas with spikes were prioritized to determine the presence and spread of these variants in these areas. The DOH reiterated that the purpose of whole genome sequencing is to guide the overall strategies of the government and not for individual case management. The samples sequenced are already Covid-19-positive regardless of the variant, “therefore management and treatment of these cases should remain the same.” “Moreover, all necessary health measures should have been implemented to prevent the spread of Covid-19 in the community,” the DOH said. With the confirmation of the local transmission of the Delta variant, the DOH called for a swifter implementation of response strategies. “Local government units must immediately contain observed case increases through granular lockdowns and stronger PDITR (Prevention, Detection, Isolation, Treatment, and

Davao posts first Delta variant cases By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

AVAO CITY—The region is now in the infamous club of localities with the dreaded Delta, or Indian, variant, after the Department of Health (DOH) confirmed a case each in this city and Tagum City. The Tagum City Information Office posted this information late Saturday in the Davao Region Covid-19 chat group quoting Health Officer Arnel Florendo as saying that the DOH disclosed this to him. There was no other information relayed on the confirmation, Tagum City is 53 kilometers northeast of here. Local radio station Dxdc-Radio Mindanao Network also posted on the Internet that Health Undersecretary Leopoldo Vega, sent a mobile phone message to the station confirming the Tagum City delta variant case and another one in Davao City. Neither Florendo nor the regional DOH were available for information on Sunday. A city information officer in Tagum City said all inquiries would have to wait for Monday’s regular news briefing by the DOH. It said the DOH has not provided additional information or details about its disclosure of the first Delta variant case in the Davao Region. The Tagum City information Office also posted on Saturday that the DOH information came in the aftermath of a recent disclosure that the city has also 12 confirmed Alpha, or UK, variant cases and 22 confirmed Beta, or South African, variant cases.

DPWH issues advisory on earthquake, flood

HE Department of Public Works and Highways (DPWH) said last Sunday that all national roads and bridges in the National Capital Region, Regions III, IV-A and IV-B are passable to all types of vehicles despite a 6.7-magnitude earthquake that occurred 16 kilometers Southwest of Calatagan, Batangas on July 24 at 4:49 a.m. “There has been no received report of damages as of this time on the effect of the earthquake with post-earthquake assessment on-

going,” the DPWH said. However, the DPWH said that three roads in the Cordillera Administrative Region and Mimaropa region are still impassable. “While the floods and rains rendered impassable or hardly accessible several vital roads, Saturday morning’s magnitude 6.7 earthquake, however, did not damage any roads, according to DPWH.” Meanwhile, incessant rains spawned by the southwest monsoon have restricted access to six road sec-

tions in Luzon, the DPWH said. The DPWH said a report by its attached agency Bureau of Maintenance on 7 a.m. of July 25, road sections closed to traffic includes the following: three in the CAR, specifically the Baguio-Bontoc Road; Busa Bridge in Sabangan, Mountain Province; Abra-Kalinga Road, in Gacab, Malibcong, Abra (affected by soil and rock collapse); and, Gov. Bado Dangwa National Road, Poblacion, Kibungan, Benguet (due to rock collapse).

Reintegration strategies) implementation,” the DOH stressed. The DOH also called on both public and private sectors to ensure active case finding, aggressive contact tracing, immediate isolation or quarantine, and compliance to minimum public health standards in their respective localities and even work places. “We also call on our community members who have become exposed or developed Covid-19 signs or symptoms to immediately isolate and reach out to their Barangay Health Emergency Response Teams or BHERTs for appropriate medical management,” the DOH concluded.

Davao threat

AMID the threat of highly infectious Delta variant, lawmakers asked anew the Inter-Agency Task Force (IATF) to check on the continuous spike of Covid-19 cases in Mindanao, particularly in Davao City and Cagayan de Oro City, which both listed as cities with high number of daily new infections. Bayan Muna Rep. Eufemia Cullamat made the appeal amid the reported rising cases of Covid-19 in Davao City. “[Despite increasing cases of Covid-19] the health issue of the population in Davao has not been given priority,” he said. “In recent months, these cases have been reported, and to date the number of Covid cases in Davao City continues to rise. We want to

know where the attention of those in charge of that city is? It is the city of origin of the President so it is difficult to imagine that it is not in the priority in fund allocation [for Covid response],” she said. For seven consecutive weeks since the month of June, Davao City has continuously topped the list of cities in the country with highest number of COVID-19 cases, the Department of Health (DOH) data showed. From June 7 to July 19, Davao City is listed as having the most number of daily new coronavirus infections. It has continuously surpassed the number of new infections in other high-risk cities, which include Cebu, Bacolod, Iloilo, Makati, Cagayan de Oro, Baguio, General Santos, Laoag, Lapu-Lapu and Butuan.

Latest report

THE latest report from the OCTA Research Group has shown the same result. Based on their monitoring for the period of July 13 to July 19, Davao City has logged 219 daily average cases, slightly lower as compared from previous week’s 226. However, based on latest OCTA monitoring, Davao City still topped the list of local government units (LGUs) in the country with most number of daily infections, and that it continuously overtakes other cities, to include Quezon City with 124, Cebu City with 108, Manila with 104, Bacolod with 96 and Iloilo City with 95. According to OCTA Research Fel-

low Ranjit Rye, the fact that Davao City has remained to be the city with highest number of daily infections for seven straight weeks already, this only indicates that the strategy in place in Davao City is not effective, and that their strategy has to be changed and new policies have to be introduced.

More vaccines

MEANWHILE, Deputy Speaker Rufus Rodriguez said a team of the IATF on pandemic response has already visited Cagayan de Oro City to check on the increasing Covid-19 cases. Rodriguez said the team is led by IATF chairman and Health Secretary Francisco Duque lll, chief implementer Secretary Carlito Galvez and NTF Chair Secretary Delfin Lorenzana. “Their visit is timely since we have Delta variant cases in Cagayan de Oro. They can advise city officials and local health authorities on what to do to stop the spread of this variant and Covid-19,” he said. Quoting the Department of Health, he said four of the five Delta variant-infected persons in Cagayan de Oro, who had previously recovered from the infection, have tested positive again, along with one from Misamis Oriental, which the city is part of. “Five of the eight reinfections are from our area. That shows the severity of the situation there, which has prompted the IATF to impose the strictest quarantine restriction in Cagayan de Oro,” he said.

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A4 Monday, July 26, 2021

IBP: Number of lawyers killed under Duterte govt rose 500% By Joel R. San Juan @jrsanjuan1573

HE Integrated Bar of the Philippines (IBP) yesterday said the number of lawyers being killed has increased by 500 percent under the Duterte administration. The IBP made the claim as it condemned the killing of Deputy City Prosecutor Victor Begtang Jr. by motorcycle-riding gunmen in Conner, Apayao province. Begtang is the ninth prosecutor to be killed during the Duterte administration. Also last July 14, 2021, lawyer Sitti Gilda Mahinay-Sapie in Davao City and her husband Muhaimen Mohammad Sapie were gunned down outside their residence in Phase 2, Solariega Subdivision in Barangay Talomo, Davao City around 5 p.m. Wednesday, July 14.

“The IBP grieves and is appalled by the increasing and sheer number of assassinations of lawyers, judges and prosecutors with impunity,” the group said in a statement. It noted that the death toll of lawyers killed during the administration has now reached 63 compared to the previous administrations. The IBP said at least 10 lawyers were killed for each under previous administrations were recorded from 1972. No lawyer was killed under the Ramos administration. “Indeed, the numbers, as these now stand under the present administration, have alarmingly increased by as much as 500 percent,” the IBP said. “ As such, the IBP will continue to work with the Supreme Court, the Department of Justice, the National Bureau of Investigation and the Philippine National Police to address and

arrest these rising attacks against its members just as it calls upon our police and investigative agencies to formulate and implement specific measures to improve the security of lawyers, judges and prosecutors and to expeditiously resolve its investigations on these killings so that the perpetrators are swiftly and truly held accountable,” it added. Earlier, the Supreme Court recognized the alarming number of lawyers and judges being killed, harassed and threatened. In light of this, the Court announced several measures in response to the calls made by lawyer groups, which include a deliberation on the possibility of including a provision on its Rules of Procedure that would regulate the conduct of buy-bust operations in the enforcement of the Comprehensive Dangerous Drugs Act.

It has directed all lower courts, as well as the various law enforcement offices, to furnish it with relevant information to shed light on the number and context of each and every threat or killing of a lawyer or judge within the past decade. The SC said it would also refer the letters that they received from various groups with specific incidents to the relevant trial courts, that would order the parties to convert their letters to proper remedies such as writs of amparo and habeas corpus. The Court added that it would coordinate through existing mechanisms with all concerned groups, whether belonging to civil society or law enforcement. The Court en banc has recently approved the rules on the use of body cameras for the service of search arid arrest warrants to prevent speculations of extrajudicial killings.

Typhoon leads to loss of lives, livelihoods By Jasper Emmanuel Y. Arcalas @jearcalas

& Rene Acosta @reneacostaBM

BOUT 885 farmers in three regions lost 228 metric tons (MT) of produce worth P12.38 million due to the damage caused by Typhoon Fabian to the agriculture sector, the Department of Agriculture (DA) said. In its latest damage assessment report, the DA said Fabian affected 906 hectares of farms in Central Luzon, Calabarzon and Western Visayas. “Affected commodities include rice, corn, high value crops and livestock. These values are still subject to validation,” it said. The DA said bulk or about 94.8 percent of the reported losses were recorded in the rice industry, amounting to P11.7 million. The DA added that Fabian affected 893 hectares of rice farms with an estimated volume loss of 212 MT. The typhoon’s damage to the corn sector was estimated at P175,500 with a volume loss of 13.5 MT while losses in the high value crops sector reached P222,300 with 9 hectares of farm affected, according to the DA.

The DA said the typhoon also a f fected 16 head s of sw ines worth P244,800.

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THE DA said a total of 104,471 bags of rice seeds, 11,390 bags of corn seeds and 1,949 kilograms of assorted vegetable seeds will be distributed to affected farmers. The DA added that it has an available quick response fund for the rehabilitation for the affected areas. Furthermore, the DA said the Philippine Crop Insurance Corp. has sufficient funds to indemnify affected farmers while interested farmers and fishermen could avail of the survival and recovery loan program of the Agricultural Credit Policy Council. In a related development, DA Cordillera Administrative Region (CAR) OIC-Regional Executive Director Cameron P. Odsey assured the public that there would be continuous supply of highland vegetables to the National Capital Region (NCR) and nearby regions. “This is amid the various reported incidents of road blocks and roadslips due to the continuous rains brought by Typhoon Fabian

Neda urges businesses to stay the course amid Delta variant By Cai U. Ordinario @caiordinario

HE National Economic and Development Authority (Neda) encouraged businesses to stay the course and continue their Covid-proofing efforts especially with the entry of the Delta variant in the country. In a recent briefing, Neda Undersecretary for Planning and Programming Rosemarie G. Edillon said some of these Covidproofing efforts include going digital and implementing alternative work arrangements. Edillon said businesses can do this given that the arrival of the new variant comes at a time when vaccine supply has become more steady and could already help avert any surge in cases. “Kung halimbawang maitutuluytuloy natin ito hanggang end of July, if possible malampasan pa natin itong mga record natin na ito ‘no, talagang [If, for example, we can continue this until the end of July; if possible we can surpass these records of ours,] we will [really] be in a different situation actually than we were let’s say [at the] beginning of April when we had that surge and kasisimula lang ng vaccination pautay-utay iyong pagdating ng sup-

ply [and the vaccination was just beginning and intermittent supply],” Edillon explained. “This time nandiyan na iyong supply ng vaccines [the vaccines are there]. We have the systems in place and then like I said, the DOH [Department of Health] is actually coming up with this contingency plan on how to handle this surge capacity so that after this period sa awa ng Diyos magtuluy-tuloy na tayo ng ating recovery,” she added. [With God’s mercy, our recovery would continue.] Edillon admitted that should more stringent mobility restrictions be imposed in light of the Delta variant, this will significantly affect the country’s economic recovery. But until then, Edillon said, firms should continue innovating their business process while health system capacity improves. Neda said the health sector should also create plans to address the possibility of a surge “in case it happens.” “At the same time, tingin namin malaking bagay din itong seven days na ito para mag-accelerate din iyong ating vaccine rollout natin so that hopefully we don’t get to the point na magkakaroon ng surge,” Edillon added. [We see these seven days as helping big to accelerate our vaccine rollout so that hopefully we don’t get to the point where there will be a surge.]

and Southwest Monsoon,” Odsey said in a recent statement. The DA said there is an estimated 1,066 MT of assorted highland vegetables that arrived in various trading centers in CAR as of Saturday noon. These trading centers are the Benguet Agri-Pinoy Trading Center (BAPTC), the La Trinidad Vegetable Trading center, and private trading centers, the DA added. “Of the 1,006, an estimated 935 MT was brought to the NCR and 714 MT in the other regions,” the DA said.

Fatalities

MEANWHILE, authorities reported that at least three people have been reported killed while five others have been injured as Fabian continued to enhance the prevailing southwest monsoon despite having left the Philippine Area of Responsibility. The National Disaster Risk Reduction and Management Council (NDRRMC) pointed to lightning strike as having caused the death of two and injuries to the third victim who were all from the village of Tartarabang in the town of Pinili, Ilocos Norte. Southern Tagalog, Metro Manila up to Northern Luzon and parts of

the Visayas have been drenched with days of continuous rain, triggering flooding and landslides that forced the continued rescue and evacuation of people. In Marikina City and parts of Rizal alone, more than 14, 000 people have been evacuated due flooding or its threat, the same in Naujan, Orintal Mindoro and in coastal villages of Cavite where flood waters and sea surges have destroyed houses.

Affected barangays

BASED on the latest NDRRMC report, at least 212 barangays in the National Capital Region and in Regions 3, 4A, 4B and 6 and in the Cordillera Administrative Region have been affected by Fabian and the southwest monsoon. The prevailing bad weather also affected at least 19,521 families or 87,493 individuals, of whom 22,693 were evacuated and are currently being served in 157 evacuation centers. The typhoon wreaked havoc in Cordillera, spawning flooding and landslides based on the photos provided by the PNP, where its personnel were still undertaking relief missions or clearing operations as of Sunday.

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SC junks watchdogs’ suit, says Comelec complied with voter verification features

HE Supreme Court has dismissed the petition for mandamus filed by several poll watchdogs in 2019 seeking to compel the Commission on Elections to fully comply with its 2016 order to activate the so-called Voter Verification Paper Audit Trail or VVPAT as one of the minimum systems capabilities of the automated election system (AES) and a major security feature of the vote counting machine under Republic 369 or the Election Automation Law. While the petition was dismissed for being moot, the Court still held that there was no grave abuse of discretion on Comelec’s part, as it has the sole authority to decide how to implement the AES. I n a 2 1- p a g e r e s o l u t i o n penned by Justice Mario V. Lopez, the Court en banc held that the Comelec substantially complied with the Court’s ruling in Bagumbayan on the matter of the V VPAT requirement. The Court held in Bagumbanyan-VPN Movement v. Comelec that the VVPAT requirement is substantially complied with when the voter’s receipt is printed, and the voter can physically verify his or her vote. The petitioners argued that VVPAT was mandatory for audit purposes from the time of vote casting until vote counting. The VVPAT consists of physical paper records of voter ballots as voters have cast them on an electronic voting system. It allows every voter to confirm whether or not the machine cast the vote correctly based on the choice of the voter, thereby ensuring the integrity of elections. The petitioners also suggested employing the proposed “Camerambola” method of digitally signing the election results to review the VVPAT. But the SC ruled that the Comelec implemented its directive in the Bagumbayan ruling by issuing guidelines that the V VPAT must be printed in the form of paper receipts and that the voters can verify their votes through these receipts. These allowed voters to register their objections in case of discrepancies with their actual votes.

“On a final note, the Comelec exercised its judgment to ensure free, orderly and honest elections and to protect the secrecy and sanctity of ballots without grave abuse of discretion. To be sure, the Court will not hesitate to exercise its jurisdiction to compel the performance of a duty provided by law in appropriate cases,” the Court ruled. Likewise, the Court held that the petitioners failed to prove that the prohibition of using capturing devices in Comelec Resolution No. 10460 is unlawful. The petitioners were insisting that the poll body should allow, even after the close of polls, the use of digital cameras and cellular phones to audit the totality of votes inside the precinct after shuffling the VVPAT receptacle. Cont ra r y to pet it ioners’ c l a ims, t he SC sa id t he pol l watchers can still register their protest on any irregularity and use capturing devices during the counting of votes and the transmission and printing of election returns, which will help them record their observations. However, the SC explained they are prohibited from using these devices during the casting of votes in order to comply with the constitutional policy of securing ballots’ secrecy and sanctity. This prohibition, according to the SC, is consistent with the Omnibus Election Code, which considers it unlawful for any person to avail of any scheme to discover the contents of the ballots o f a voter. “Notably, the VVPAT reflects the votes of a voter. Allowing the poll watcher or even the voters to take a picture of their VVPATs during the casting of votes may run contrary to the constitutional policy of keeping the ballots’ secrecy and sanctity,” the Court said. The petitioners in the case include AES Watch, Buklod Pamilya, Capitol Christian Leadership, Citizen’s Crime Watch, Connecting Businessmen in the Marketplace to Christ, Latter Rain Harvest Ministries, One Vote Our Hope, Upper Room Brethren Church and several other individuals. Joel R. San Juan

Popcom pessimistic Mandanas ruling to boost contraceptive use

HILE access to modern contraceptives increased to a record high in a pandemic year, the Commission on Population and Development (Popcom) is not optimistic that this success can be sustained due to the Mandanas ruling. The Popcom said access to family planning methods posted a 4-percent increase in 2020 despite difficulties experienced by local health workers to provide access due to lockdowns. Popcom told the BusinessMirror this is the first time that 8.085 men and women were able to access modern family planning methods. In 2019, some 7.8 million men and women in the Philippines had access to modern contraceptives. “Sustainability will be a major issue with the implementation of the Mandanas-Garcia ruling which has affected Popcom funding for FP (Family Planning) in the last two years,” Undersecretary for Population and Development Juan Antonio A. Perez III told BusinessMirror on Sunday. “Popocom’s budget for FP has been reduced by at least 16 million for 2022.” Perez told this newspaper that apart from Popcom, the Department of Health (DOH) also needs to sustain their procurement given that more women are now using FPs. He noted that DOH is tasked to procure at least P1 billion worth

of FPs annually while Popcom is in charge of making sure local government unit supplies are maintained, especially during the pandemic. “Our proposal is for national government (Popcom or DOH) to continue procurement of FP commodities and support the supply chain to all LGUs as a retained function of national government agencies like Popcom, including coordination and provision of technical assistance to LGUs,” Perez explained. He said under this arrangement, LGUs will support demand generation and service delivery of family planning services. Popcom and DOH will also continue to provide itinerant teams for the provision of permanent methods like Bilateral Tubal Ligation and No Scalpel Vasectomy as their few resources for these all LGU levels. Meanwhile, in terms of the record increase in the use of family planning methods in 2020, Perez attributed this to the work of LGUs, particularly health and social workers and volunteers. “It was also shown in a survey in November 2020 that the second major issue was unplanned pregnancy which showed that people wanted to avail of FP services during the pandemic which led to a higher number of women using

FP,” Perez said. Based on the data provided by Popcom to BusinessMirror, modern family planning users in the Philippines increased significantly between 2000 and 2020. In 2000, there were only 3.7 million men and women who had access to modern contraceptives. This represented a 118.53 percent increase in 2020 with over 8 million Filipinos accessing FPs. Popcom attributed the growth in the access and use of FPs in the Philippines in recent years to Executive Order 12 on Zero Unmet Need for FP passed in 2017 and Joint Memorandum Circular 2019-01 on the intensified implementation of the National Program on Family Planning. The agency also credited the various programs of the DOH and Popcom last year to mitigate the impact of Covid-19 on the supply and distribution of FPs as well as EO 141 on addressing teenage pregnancy as a national priority released last month. In a statement, Popcom and the United Nations Population Fund (UNFPA)-Philippines recently commemorated World Population Day 2021, with “Dynamic Demographics: Prioritizing sexual and reproductive health and rights of people” as the theme. During the online event, the UNFPA revealed a recent study

stating that millions of women continue to experience restrictions in accessing family planning services due to the imposition of local community lockdowns. The condition could lead to an increase in the number of unplanned pregnancies, specifically within the marginalized sector of the Philippine society. In addition, the situation may cause an upsurge in the number of gender-based violence cases. Popcom said reproductive health and family planning services were feared to be severely impaired in certain urban areas, which raised the red flag on their accompanying consequences. These include the possible rise in the incidences of unplanned pregnancies particularly among adolescents, increasing maternal mortalities and gender-based violence. The local commemoration of World Population Day 2021 on July 13 called for action and support from the Philippine government and all duty bearers. It also served as a venue to commend the innovative strategies of Philippine government protecting the SRHR of women and girls in the midst of the pandemic, especially on the call of Popcom for uninterrupted services for family planning despite the community quarantines. Cai U. Ordinario

BusinessMirror

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Monday, July 26, 2021 A5

Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4 Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362 th

10.

Ms. YUHONG WANG Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

11.

Mr. ZHIBO MIN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

July 26, 2021

NOTICE OF FILING OF APPLICATION FOR ALIEN EMPLOYMENT PERMIT (AEP)

Notice is hereby given that the following employers have filed with this Regional Office application/s for Alien Employment Permit/s. Name and Address of Employer: EPSON PRECISION (PHILIPPINES) INC. SEPZ-LTC, Lipa City, Batangas Name and Citizenship of Foreign National

Mr. KENICHI OZAWA Japanese

Position and Job Description

Printer Product Engineering Department General Manager Ensure continuous operation of IJP product engineering.

Salary Range

Name and Address of Employer: BANDAI NAMCO PHILIPPINES INC. Lima Technology Center, Lipa City, Batangas Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Mr. YUICHIRO MIZUNO Japanese

Quality Control Manager Provide semi-annual refreshment of QC procedures to QC staff.

USD960.00USD1,000.00/month

Mr. RYOHEI MUKAE Japanese

Import/Export Manager Oversee all importations and exportations via air and sea shipments process.

USD960.00USD1,000.00/month

Ms. ASAMI GODAI Japanese

Deputy General Manager Overall management of administration.

USD2,960.00USD3,000.00/month

Php960,000.00Php1,000,000.00/annum

1. Name and Address of Employer: IBIDEN PHILIPPINES, INC. FPIP, Sta. Anastacia, Santo Tomas, Batangas Name and Citizenship of Foreign National

Position and Job Description

Mr. TAKAHIDE HASEGAWA Japanese

Process Engineering Manager Lead the team that will be responsible for process engineering and enhance IPI technical core competency.

Mr. NAOHITO ISHIGURO Japanese

New Product Development Senior Manager Lead the team to meet product certification on time with higher yield and endorse to manufacturing smoothly as HVM.

Salary Range

Php1,260,000.00Php1,300,000.00/annum

Php960,000.00Php1,000,000.00/annum

Name and Address of Employer: RELIANCE PRODUCERS COOPERATIVE (RPC) GMBP, Maduya, Carmona, Cavite 3.

Mr. NORIAKI MATSUNO Japanese

Utility Manager Manage process review and utility inspections.

Php560,000.00Php600,000.00/annum

Name and Address of Employer: MITSUBA PHILIPPINES CORP. Lima Technology Center, Lipa City, Batangas

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Mr. MITSUYOSHI SATO Japanese

Plant Manager Overall management of plant, coordinate and communicate with customers outside the Philippines.

Php120,000.00Php150,000.00/month

Name and Address of Employer: BRICKHARTZ TECHNOLOGY INC. Lot 4044 Molino Blvd. Niog III, Bacoor, Cavite Name and Citizenship of Foreign National

Mr. ZILIANG WANG Chinese

Position and Job Description

Ms. CHUANHUA CAI Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. HAOHAO LIUFU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. HAIJUN YANG Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Ms. HAIYING SHI Chinese

Technical Consultant – Sewing Reviews, understands and interprets buyer technical instructions and specifications as it relates to over-all fit and appearance that the customer wants per style

USD9,000.00USD10,000.00/month

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Mr. THOMAS GEORGE SNODGRASS American

Chief Operating Officer Design and implement business strategies, plans and procedures

USD160,000.00USD200,000.00/ annum

Name and Address of Employer: TDK PHILIPPINES CORPORATION SEPZ, Laguna Technopark, Biñan City, Laguna Php20,000.00Php50,000.00/month

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Salary Range

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Ms. XIAO LU Chinese

Position and Job Description

Name and Address of Employer: NEPES HAYYIM CORPORATION Laguna Technopark, Biñan City, Laguna

Name and Citizenship of Foreign National

Php20,000.00Php50,000.00/month

Mr. HOUSONG SHAO Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. JIALONG SHI Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. JIE CHEN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. TONG PAUK YI Burmese

Myanmari Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Name and Citizenship of Foreign National

Position and Job Description

Mr. KENTARO TANAKA Japanese

Treasurer and Chief Financial Officer Php500,000.00Monitor and direct the implementation of strategic Php1,000,000.00/ business plan month

Salary Range

Name and Address of Employer: MACCAFERRI PHILIPPINES MANUFACTURING, INC. LIIP, Mamplasan, Biñan City, Laguna

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Mr. ROBERTO ANNICCHIARICO Italian

Head of Manufacturing Responsible for MPMI factory production and ensure all production needs are planned and delivered on time at the best cost

USD50,000.00USD100,000.00/ annum

Name and Address of Employer: FUTABA CORPORATION OF THE PHILIPPINES LTI, Biñan City, Laguna

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Mr. KAZUHIRO TOGURA Japanese

Touch Sensor Technical Adviser To train the personnel involved in the technical side of production

Php50,000.00Php100,000.00/ month

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at the DOLE Regional Office within 30 days from the date of publication. Please inform the DOLE Regional Office if you have an information of any criminal offense committed by the foreign nationals.

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph

News

BusinessMirror

A6 Monday, July 26, 2021

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Salceda OK with POGO bill veto items

By Jovee Marie N. dela Cruz

@joveemarie

S Finance Secretary Carlos Dominguez wants to remove some provisions in the bill providing for the fiscal regime for Philippine Offshore Gaming Operations (POGOs), the chairman of the House Committee on Ways and Means said Congress will respect any veto item that the Department of Finance (DOF) will propose to President Duterte.

According to Albay Rep. Joey Sarte Salceda, it is DOF’s prerogative to recommend line item veto to President Duterte.

Earlier, Dominguez said his agency is generally supportive of the POGO taxation bill as it will once and for all settle the tax treat-

SENATE VOWS TO PASS 10 PRIORITY BILLS AMID HYBRID SESSION

ENATE leaders gave assurances that despite continuing their hybrid session when the 18th Congress reconvenes on Monday, July 26, the chamber will work speedily on priority measures, topped by those certified urgent by the President. Senate President Vicente Sotto III, who will deliver his speech during the opening of the morning session, said the Senate will focus on passing 10 priority measures which include the Amendments to the Foreign Investment Acts (FIA), Amendments to the Public Service Act (PSA), Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE), Department of Migrant Workers and Overseas Filipinos Act, Package 4 of the Comprehensive Tax Reform Program (CTRP) or the Passive Income and Financial Intermediary Taxation Act (Pifita), Virology Science and Technology Institute of the Philippines (VIP), Rural Agricultural and Fisheries Development Financing System Act (Agri-Agra) and Package 3 of the CTRP or the Valuation Reform Bill. Majority Leader Juan Miguel Zubiri earlier said the Senate will work on passing the following measures:

Lib bills…

Continued from A1

Passing these measures is a more viable and acceptable option than tinkering with the Constitution on the premise of removing its restrictive economic provisions or Charter change,” Villafuerte added.

Coordinate with Senate

Modernization of the Bureau of Fire Protection, Increasing the Statutory Rape Age Act, Military and Uniformed Personnel Insurance Fund Act, Philippine Center for Disease Control and Prevention Act, the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Extension Law and possibly the Bayanihan 3. As in 2020, visitors and guests will not be allowed inside the Senate premises due to stringent health protocols and regulations. Family members of senators, former senators, government officials and media personalities will also not be allowed inside the gallery hall. Only selected Senate employees will be allowed inside to assist during the session. Following tradition, a photo session of senators will be arranged for the 14 legislators who will be physically present during the proceeding. This will be followed by a virtual press conference with the Senate President, including senators who may wish to attend the said briefing. After the morning session, Sotto will lead some senators to the House of Representatives for a joint session of Congress to hear President Duterte’s last State of the Nation Address. Butch Fernandez

MEANWHILE, Speaker Lord Allan Velasco and Majority Leader Romualdez vowed to coordinate with the Senate to finish some of the remaining priority measures identified by the Legislative-Executive Development Advisory Council (LEDAC) when it resumes session this Monday. Velasco said the five bills of top priority are the proposed Philippine Virology Institute Act, Center for Disease Control Act, Amendments to the Continuing Professional Development Act of 2016, Bureau of Immigration Modernization Act, and National Housing Development Act. “We will work toward the approval of these bills once we resume session and we will also take into account the priority measures President Duterte will mention in his sixth and final Sona,” Velasco said in a statement. In a separate interview with CNN Philippines, Velasco said the House has approved several priority bills but majority of them are pending in the upper house of the Congress. Velasco asked the Senate to immediately pass bills that the House transmitted to senators for their own deliberations, includ-

ing bills creating a Department of Overseas Filipinos Act and creating a Department of Disaster Resilience Act, the proposed Internet Transactions Act, the Resolution of Both House 2 or the economic Charter change and the Bayanihan to Arise as One or Bayanihan 3.

GUIDE bill, too

MEANWHILE, Romualdez also asked the Senate to pass the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery Act (Guide) to give financial aid to distressed enter pr ises critical to economic recovery; as well as the bill creating the Department of Disaster Resilience amid the continued unrest of Taal Volcano. Passage of Bayanihan 3 or the Bayanihan to Arise as One Act is crucial to the economic recovery program of the government, he added. The House has endorsed Bayanihan 3 for Senate approval. The majority leader, meanwhile, said House members are ready for bicameral conference in case there are differences in their version of the bill. According to Romualdez, also top of their agenda is the passage of the proposed 2022 national budget, which will be submitted after the Sona.

Revenue support

MEANWHILE, House Committee on Ways and Means Chairman Joey

ment of POGOs and their employees, and address tax leakages in the industry. However, Dominguez wants to remove provisions relating to zerorating as stated in Sections 6 and 7 of Senate Bill 2232. “We deem it necessary to remove the provisions relating to zero-rating of: (1) sales of goods to offshore gaming licensees (OGLs), regardless of location (Section 6 of Senate Bill 2232), and (2) services rendered by service providers to OGLs (Sec. 7 of SB 2332) because these provisions tend to place POGOs at a better footing than certain export oriented companies in the country,” Dominguez said.

Adopt Senate version?

MEANWHILE, Salceda reiterated that the House leadership will adopt the POGO tax regime

approved by the Senate when it resumes session. “That [Senate] version contains only minor reworkings of the House version, and there is no difference between their tax rates and tax bases, and those of the House version. We were the first draft, and they made very few modifications. So, recognizing the respect that the Senate extended to the House version, we will adopt their changes, which in my view are acceptable,” he said. Meanwhile, Salceda noted the major changes in the proposal. The Senate version requires every alien employee of offshore gaming licensees (OGL) commonly known as POGO to have a Tax Identification Number (TIN) and imposes a P20,000 fine on the OGL for every alien employee without a TIN;

Also, the Senate version removes the provision that POGOs currently registered with other special economic zones will pay at their current tax rate or 5 percent of gross gaming revenues, whichever is higher, and instead makes the 5-percent rate uniform, saying “this is of little consequence.” According to Salceda, the Senate version prevents the Aurora Pacific Economic Zone and Freeport from issuing new POGOs licenses and transfers POGOs currently registered under the zone to the regulatory ambit of the Philippine Amusement and Gaming Corporation. “The Senate version does not specifically provide that the income reported by POGO employees for tax purposes can be used as basis for the computation of other mandatory contributions. We would have preferred that they keep this,

but anyway, no one stops the other government corporations from using the presumptive income under the POGO tax regime as their basis for computing mandatory contributions,” he added. “The taxable period for the Senate version, for both POGO taxes and employee taxes, is monthly. In the House version, the remittances of taxes for POGO employees is on a quarterly basis and in advance, with a refund mechanism if taxes paid exceed tax dues for actual period of service rendered by employees,” Salceda said. The taxable period for POGOs in the House version is annual, as in the case of other corporations. “But we are amenable to the monthly system,” Salceda added. POGO taxes will raise P13.4 billion in its first year, and P176.9 billion in five years, he noted.

Ex-foreign ministers to Beijing: Heed intl laws to avert conflict

EOPOLITIC AL experts from the United States, Australia, India, and Japan called for a peaceful approach and compliance with international law to avoid military confrontation amid growing tensions in the South China Sea. “The rising tensions in the West Philippine Sea have become more than just an issue of conflicting territorial claims. The security challenges brought by China’s aggressive behavior in the region will seriously impact the future of the Philippines and other states in the Indo-Pacific,” Stratbase Albert del Rosario (ADRi) President Prof. Dindo Manhit said at the recent virtual international conference marking the fifth anniversary of the 2016 arbitral ruling. The Philippines, Manhit said, “should be reminded of its commitment to the preservation of a rules-based international order, especially in conducting its affairs in the West Philippine Sea.” Former Australian Foreign Minister Julie Bishop for her part said that, “Like many nations, Sarte Salceda said his committee will continue to work on the passage of several bills providing the government much-needed revenue to support the economy amid the fight against Covid-19. With this, Salceda urged President Duterte to reiterate to lawmakers the urgency of passing the remaining packages of the Comprehensive Tax Reform Program (CTRP), to provide the government new revenue streams. These measures include the Real Property Valuation and Assessment Reform Act, Passive Income and Financial Intermediaries Taxation Act (Pifita), the proposed motor vehicle road users’ tax, tax on compensation and tax on revenues of Philippine Offshore Gaming Operator (Pogo), tax administration reforms on proposed digital taxation. “First, we will optimize existing revenue sources: that means, as much as possible, we will try to improve or update existing taxes, or enhance tax administration. That is why my digital economy taxation bill only closes tax loopholes for the tech giants instead of creating new taxes, and why my proposed taxes on POGOs clarifies confusion in taxing those companies. Our proposal on motor vehicle road users’ taxes also just updates the rates, which has not been done since 2004, even if it was mandatory to do so under the law,” he said. He said other reforms seen to provide additional revenue to the government are the implementation of oversight into customsbonded warehouses, full digitalization of the taxpayer filing and

Australia has experienced good times and more difficult times in our relationship with China. We’re going through a difficult challenge at the moment. It has become more challenging since China has adopted a more assertive stance particularly in foreign policy.” Bishop said, “It remains vital for the P5 including China to support the rules-based international order as it remains our best hope of avoiding a repeat of the tragic global wars of past eras.” “Australia, like the Philippines, is a military ally of the United States. And the US cause remains the pre-eminent military power globally. Thus, we have the responsibility to maintain capability to ensure that we can meet any treaty obligations in hope of course that no conflict breaks out between nation-states,” Bishop said. For former Foreign Secretary of India Lalit Mansingh, “The IndoPacific region is facing a challenge from an aggressive and hegemonic China. A country that questions the very idea of the international payment in the Bureau of Internal Revenue, and the application of zero tax for some period and tax base expansion after, for the MSMEs. According to Salceda, the Real Property Valuation and Assessment Reform Act is undergoing deliberations at the Committee level in the Senate, where the Pifita is also pending. “Progress in both reforms is being observed by credit rating agencies, who believe that their passage is a net plus for our country’s credit standing,” he said. Salceda said his Committee on Ways and Means has a host of other measures lined up, including a Fiscal Regime for Mining, which remains very critical to maximizing the recent metals price boom. Other measures include the Ease of Paying Taxes Act, the Motor Vehicle Road Users’ Tax, and the Excise Tax on Single Use Plastics.

Focus on growth

MEANWHILE, Salceda said Congress can help the country’s credit outlook recover once it completes the comprehensive tax reform program and reaches for “low-hanging fruits such as the POGO tax and the e-sabong tax bills.” International credit watcher Fitch Ratings recently revised its outlook on the Philippines’s current rating, citing the strong impact of the pandemic on the economy, which could potentially result in scarring effects for the country. Fitch Ratings affirmed the country’s rating at “BBB,” but revised its outlook from the assigned “stable” in January this year down to a “negative” outlook.

order based on respect for territorial integrity, sovereignty, the rule of law, and freedom of access to global economies.” Mansingh added, “I believe that while Asean’s rule will be indispensable for reaching the security challenges of the region, it can no longer be seen as the security provider. Asean therefore needs to look at initiatives like the ‘Quad’ with an open mind. The Quad which shares its values system with Asean will certainly welcome Asean dialogues on even limited issue-based cooperation with leading powers like Indonesia, Vietnam, Malaysia, and the Philippines,” Former Vice Minister, Ministry of Foreign Affairs and President, Japan Institute of International Affairs (JIIA), Amb. Kenichiro Sasae in his statement said, “The rules based international order is facing enormous problems in these maritime areas. It is therefore all the more important to uphold the rule of law and the use of peaceful means, and to reject the use of force in pursuing the settlement of maritime disputes.” “Overall, we have weathered the possibility of a downgrade. That’s the headline here: no credit grade downgrades for us, even when our peers are getting pulled down some notches. Outlooks change depending on what we do with policy now,” Salceda said. “We should also reach for very low-hanging fruits such as the POGO tax regime and the e-sabong tax regime. President Duterte himself said that these areas can be revenue generators. We will be better served if we impose tax regimes that regulate them well. We will give President Duterte a POGO tax bill to sign by August. Hopefully we can do e-sabong by September. We are just waiting [for] the Senate to do it,” Salceda added. The lawmaker said passing these reforms is critical. “Over the next 5 years I expect revenue inflows from the POGO taxes to be P144.54 billion. For e-sabong, total public resources generated should be P28.04 billion. On the first year, combined, we’re looking at P32 billion. That moves our revenue-to-GDP by around 0.16 percentage points. Fitch projects that we will recover to 15.2 percent revenue-to-GDP, so add that, and we reach around 15.4 percent. That is higher than any revenue effort in the 2008-2018 period, and only exceeded by President Duterte’s own performance in 2019,” Salceda explained. Salceda also pushed the government to “focus on growth” in GDP, as “much of the worries cited by Fitch hinge on GDP growth.” “The main source of Fitch’s outlook is really its projection of only

Sasae added, “The arbitration approach pursued by the Philippines, an important member of Asean, is based on the rule of law and in accordance with the internationally established procedures. This approach resonates with the directions of FOIP (Free and Open Indo-Pacific), they award a final and legally binding on the disputing parties in accordance with the provisions of the Unclos and the parties must comply with it. I therefore strongly hope that this outcome will lead to the peaceful resolution of the dispute in the South China Sea.” Former US Ambassador to the Philippines Harry K. Thomas, Jr. said, “We want to see alternative supply chains or export to, not only the United States, but throughout Asean, and we want to see the excellent use of military assets and maintenance and training which is very important. “If we see those, we can work together. We don’t want a war, we don’t want a trade war, or a kinetic war. But we don’t want to be subject to a country.” moderate growth in 2021. They think we will only achieve 5.0 percent. A country like ours, with low GDP base last year, has the potential to go 12 percent GDP growth during periods of recovery. Nonetheless, since some quarantines were still imposed this year, we should at least aim for 7 percent this year,” Salceda said. “That’s still doable. The BPO sector is recording demand for more office space than it did pre-pandemic. We are seeing strong recovery in the manufacturing sector. Mining is a potential area for expansion. And CREATE has ended investor uncertainty over taxes, so as long as we sell the reform well, we should see more foreign capital into the country,” Salceda explained. “There is an overhang with CREATE investments because the Strategic Investment Priorities Plan has not yet been released, and, of course investors are waiting for herd immunity so that their capital can be maximized,” Salceda said.

Most critical

NEVERTHELESS, Salceda said, vaccination remains the most critical economic intervention. “We are doing around 239,000 vaccinations daily. We should expand to 750,000 if we want to reach herd immunity by end of 2021. If we can do that, 2022 should be an exceptionally strong recovery year, with all the pent-up investments,” Salceda said. “If we can significantly grow our vaccination rate and actually achieve herd immunity this year, I have no doubt the outlook will improve,” Salceda concluded.

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Editor: Jennifer A. Ng • Monday, July 26, 2021 A7

Palay output likely reached record high in H1 By Jasper Emmanuel Y. Arcalas @jearcalas

HE country’s paddy rice production likely rose to a record high in the first half due to the expansion in harvest area and yield, according to the latest data from the Philippine Statistics Authority (PSA). PSA data analyzed by the BusinessMirror showed that palay output in the January-to-June period likely increased by 5.72 percent or 480,243 MT to 8.87 million metric tons (MMT), from 8.38 MMT a year ago. The estimated first half palay output is the highest in Philippine history, eclipsing the previous record of 8.71 MMT set in 2018. Based on the latest forecast of the PSA, palay production in April to June likely went up by about 110,000 MT to a record 4.24 MMT. “The updated estimate of palay production for the period April to June 2021 as of 01 May 2021 is higher by 0.3 percent from its estimate of 4.23 million metric tons as of 01 April 2021,” the PSA report read.

The BusinessMirror first reported that the country’s palay production this year is off to a good start as first-quarter harvest grew by 8.57 percent to 4.626 MMT, the highest volume produced on record for the January-to-March period. Despite a slight contraction in the second quarter, total palay harvest area in the first half may have gone up by 2.05 percent to 2.096 million hectares from last year’s 2.054 million hectares. PSA data also showed that average rice yield in the first half likely expanded by 3.6 percent to 4.23 metric tons per hectare (MT/HA) from 4.08 MT/HA recorded last year. Historical PSA data showed that the figure is the highest ever first half yield. “We have been working hard toward achieving this production growth. We hope we can do better this second semester,” Agriculture Secretary William D. Dar told the BusinessMirror via SMS. In the second quarter alone, the PSA said average palay yield may have expanded to 4.47 MT/HA from last year’s 4.32 MT/HA. Historical PSA data showed that the figure is the

country’s largest quarterly yield. The Department of Agriculture (DA) expressed confidence that it would be able to achieve its target of producing 20.4 MMT of palay particularly if devastating typhoons will not visit the country this year. Government officials and experts attributed the increase in rice harvest to the rice competitiveness enhancement fund (RCEF), which seeks to make Filipino planters competitive against their counterparts in Asean. The Philippines produced a record 19.44 MMT of palay last year, which translates to a self-sufficiency level of 90 percent. This sufficiency level would rise to 95 percent if the government would be able to hit its production target for 2021, the DA said. Due to the expected increase in rice production this year, the United States Department of Agriculture has projected that Philippine rice imports would decline by 14.28 percent to 2.1 MMT. Despite the contraction in volume, the Philippines would remain as the world’s second biggest buyer of rice for the second consecutive year.

A FARMER in Pangasinan is preparing to plant rice in this BusinessMirror file photo.

Filipinos may soon plant Golden Rice; Bt talong good for food, feed Group urges DA to stop commercial propagation of Vitamin A-rich rice I By Lyn B. Resurreccion

N a landmark step for biosafety regulatory processes in the Philippines, the government approved Golden Rice for commercial planting, and the Bacillus thuringiensis (Bt) eggplant for direct use as food, feed, or for processing. This means that Filipino rice farmers may soon be able to plant and consumers may soon have on their tables the Vitamin A-infused Golden Rice after the Bureau of Plant Industry of the Department of Agriculture (DABPI) issued a permit for the commercial propagation of the biotech plant. The Philippines’s biosafety approval of Golden Rice is the first authorization for commercial propagation of genetically engineered rice in South and Southeast Asia. The Bt eggplant, however, will still need commercial propagation approval for environmental safety assessment before it can be made available to the public. The DA-BPI issued on July 21 the Biosafety Permit for Commercial Propagation 21-012Propa to Philippine Rice Research Institute (PhilRice), which owns and has the license to Golden Rice. The permit said PhilRice has “satisfactorily complied with all the re-

quirements” for the issuance of the permit, signed by DA-BPI Director George Y. Culaste. It was released to the media on July 23. The biosafety permit said the Golden Rice has undergone “satisfactory biosafety assessment” pursuant to the Joint Department Circular (JDC) 1 Series of 2016 issued by the Departments of Science, Agriculture, Environment, Health, and Interior and Local Government.

Bt eggplant

ON the Bt eggplant biosafety assessment, DA-BPI approved Bt eggplant and issued Biosafety Permit 21-078FFP after a rigorous JDC assessment. Bt eggplant, locally called Bt talong, has been found to be as safe as a conventional eggplant, and can substitute for its traditional counterpart, according to the DA-BPI approval. The biosafety permit has been sent to the University of the Philippines Los Baños (UPLB), the ISAAA Knowledge Center said in a statement. Bt eggplant contains a natural protein from the soil bacterium Bacillus thuringiensis which makes it resistant to eggplant fruit and shoot borer (EFSB), the most destructive pest of eggplants. The Bt protein affects EFSB worm only and is safe for humans, farm

animals, and nontarget insects. “Bt eggplant is safe as it only targets EFSB. It is safe for humans, animals, and non-target insects,” said Dr. Lourdes D. Taylo, study leader of the Bt eggplant project from UPLB. The FFP approval of Bt eggplant is among the latest milestones in the biosafety regulatory process in the Philippines. To complete the biosafety regulatory process, Bt eggplant will need commercial propagation approval for environmental safety assessment before it can be released for public consumption. The Philippines joins Bangladesh as the only two countries that have certified the safety of Bt eggplant. Bangladesh was the first country to plant Bt eggplant in 2014.

‘Healthier rice’

DA-PHILRICE executive director Dr. John C. de Leon said Golden Rice development followed the standard process of rice breeding, which usually takes 10 years to 12 years before a variety reaches consumers, a PhilRice news release said. Golden R ice is part of the Healthier Rice Project carried out by DA-PhilRice in partnership with the International Rice Research Institute (IRRI). De Leon clarified that Golden

Rice will still have to seek varietal registration with the National Seed Industry Council (NSIC), which approves the registration of varieties based on consistent good agronomic field performance. “Rigorous research and regulatory review has demonstrated that Golden Rice is as safe as ordinary rice with the added benefit of betacarotene in its grains” said Dr. Ajay Kohli, IRRI Director for Research. “This milestone approval is the product of cross-cutting collaborative work in the agriculture and nutrition sciences, the public sector, and local farming communities, who are all looking forward to seeing Golden Rice reach the tables of those who need it the most,” Kohli added. De Leon said they will still have to complete the remaining few next steps, such as seed increase, to be able to bring the product to farmers and consumers at the soonest possible time. He said Golden Rice is developed for humanitarian purposes to help curb vitamin A deficiency. He said that they aim to deploy the vitamin A-enriched rice in partnership with appropriate agencies through marketbased and programmatic approaches (e.g., feeding program) in areas where the prevalence of vitamin A deficiency is high.

NIA inaugurates irrigation project in Allacapan, Cagayan

HE National Irrigation Administration (NIA) inaugurated the P28.242-millionnewly-restored Main Canal Extension of East Apayao-Abulug Irrigation Project in the municipality of Allacapan in Cagayan. The ceremonial inauguration of the newly restored washed out section of the Main Canal Extension of East Apayao-Abulug Irrigation Project was presided by NIA Senior Deputy

Administrator Abraham B. Bagasin. The project includes the construction of reinforced canal lining at main canal extension, spillway, drainage inlet, and dredging of Main Drain “A”/ Linao Creek. With water source coming from Apayao-Abulug River, the restoration of the project will cover additional 80 hectares of agricultural land in the municipality of Allacapan with 38 farmer-beneficiaries. At pres-

ent, the project has a total service area of 2,164.275 hectares, benefitting 1,797 farmers and their families. NIA Region II Manager Raymundo B. Apil, Allacapan Municipal Mayor Harry D. Florida, other officials and employees from NIA Central Office, NIA Region II, and Cagayan-Batanes IMO, and some officers and farmer-members of Allacapan Centro East Dagupan Irrigators

Association attended the ceremony. NIA is a government-owned and -controlled corporation primarily responsible for irrigation development and management. It was created under Republic Act 3601 on June 22, 1963. Its charter was amended by Presidential Decree 552 on September 11, 1974 and PD 1702 on July 17. 1980. Both increased the capitalization and broadened the authority of the agency.

NONGOVERNMENT organization denounced the government’s approval of the commercialization of Golden Rice, saying that the genetically modified organism (GMO) would make it more difficult for farmers to recover from the adverse impact of the pandemic. Greenpeace Philippines called on Agriculture Secretary William D. Dar to reverse the Bureau of Plant Industry’s (BPI) decision to approve the commercial propagation of Golden Rice. The biosafety permit given by the BPI is the last regulatory requirement that developers need to secure prior to the rice variety’s commercial propagation. The BPI issued the biosafety permit on July 21. The document stipulated that Golden Rice has “undergone satisfactory biosafety assessment pursuant to Department of Science and Technology, DA, Department of Environment and Natural Resources, Department of Health, and Department of the Interior and Local Government Joint Department Circular No.1, Series of 2016.” “The continued approval of genetically modified ‘GM’ crops including so-called ‘Golden Rice’ will further drag down farmers amid climate and Covid struggles,” said Wilhelmina Pelegrina, Senior Campaigner for Greenpeace Southeast Asia. “The DA needs to ensure that farmers are central in a green and just recovery from the pandemic, and are supported by resilient food and farm systems in the face of the climate emergency. Instead of relying on GM crops such as GR that have no proven benefits to farmers and consumers,

the DA should promote ecological agriculture that works with and for farmers, and which offers Filipinos diverse grains, fruits, and vegetables for diverse diets, ensuring food and nutrition security.” Greenpeace argued that the commercialization of Golden Rice happened despite “longtime opposition from Filipino farmers, scientists, consumers, health advocates, and environmental groups who have clamored for stricter regulatory systems for GM crops on the basis of the precautionary principle.” The group noted that the Philippines became the first country to issue a commercialization permit for Golden Rice. The Philippine Rice Research Institute (PhilRice), an attached agency of the DA and a proponent of the Golden Rice project, said the GMO followed the standard process of rice breeding that usually takes 10 to 12 years before a new variety reaches the consumers. Proponents will now seek varietal registration from the National Seed Industry Council to ensure that varieties are based on “consistent good agronomic field performance,” according to PhilRice. “As always, we are committed to ensuring the highest quality of seed for farmers and a safe and nutritious food supply for all Filipinos,” PhilRice Executive Director John C. de Leon said in a recent statement. “[We] will be implementing a comprehensive quality assurance and stewardship program that covers all steps in the chain from seed production, to post-harvest processing, to marketing.” Jasper Emmanuel Y. Arcalas

World’s food supplies get slammed by scorching heat and drought, floods and frost

XTREME weather is slamming crops across the globe, bringing with it the threat of further food inflation at a time costs are already hovering near the highest in a decade and hunger is on the rise. Brazil’s worst frost in two decades brought a deadly blow to young coffee trees in the world’s biggest grower. Flooding in China’s key pork region inundated farms and raised the threat of animal disease. Scorching heat and drought crushed crops on both sides of the US-Canada border. And in Europe, torrential rains sparked the risk of fungal diseases

for grains and stalled tractors in soaked fields. Coffee’s the biggest recent mover, with prices surging 17 percent last week and topping $2 a pound for the first time since 2014. But the recent frost in Brazil is just the latest example of woes that have struck farmers there this year. Brazil’s also experiencing a crippling drought that depleted reservoirs needed for irrigation. The series of misfortunes underscores what scientists have been warning about for years: Climate change and its associated weather volatility will make it increasingly

harder to produce enough food for the world, with the poorest nations typically feeling the hardest blow. In some cases, social and political unrest follows.

Hungry and angry

“THINGS that are happening in one part of the world end up impacting all of us,” said Agnes Kalibata, a United Nations special envoy for the 2021 Food Systems Summit and Rwanda’s former agriculture minister. “We’ve underestimated as a world is just how frequently” weather would start to have serious impacts. “Some communities are already

living through the nightmares of climate change,” Kalibata said. The Food Price Index from the UN’s Food and Agriculture Organization rose for 12 consecutive months through May before easing in June to 124.6 points, still up 34 percent from a year earlier. The index measures international prices of a basket of food commodities. No other industry is more at the mercy of sun, rain and heat than agriculture, where changes in the weather can upend a farmer’s fortunes overnight. It’s also an industry that’s become extremely globalized and concentrated, creating a pre-

carious situation where an extreme weather event in one place is bound to have ripples everywhere. Brazil, for example, is the world’s biggest shipper of sugar and orange juice and a key producer of corn and soybeans. It accounts for about 40 percent of the world’s harvest for arabica coffee, the smooth variety that shows up in your Starbucks cup. “There’s no other country in the world that has that kind of influence on the world market conditions— what happens in Brazil affects everyone,” said Michael Sheridan, director of sourcing and shared value at Intelligentsia Coffee, a Chicago-

based roaster and retailer. What’s unique right now is that extreme weather seems to be pounding almost every region of the globe.

Scorching North America

DRY conditions in Canada coupled with record-breaking heat triggered hundreds of wildfires, with blazes spanning east across five provinces and nearly as far north as the Arctic Ocean in the Yukon and Northwest Territories. Fires have been so treacherous in westernmost British Columbia that thousands of rail cars carrying grain for export have been idled for weeks. Bloomberg News

Monday, July 26, 2021 • Editor: Angel R. Calso

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editorial

Cancel the Olympics?

harles Pierre de Frédy, Baron de Coubertin, better known as Pierre de Coubertin, graduated with a degree in law and public affairs from the Paris Institute of Political Studies. He was interested in education and focused particularly on physical education. De Coubertin spent years studying the English school system with its growing emphasis on the role of athletics in education.

The short story is that De Coubertin went on to develop the modern Olympic movement as he idealized the Olympic Games as the ultimate ancient athletic competition. With financing by the wealthy Greek Zappas brothers and the Greek government, the first Olympic Games under the International Olympic Committee (also founded by De Coubertin) was held in Athens in 1896. The Games brought together 14 nations and 241 athletes who competed in 43 events. “The Games” in ancient times were supposedly for amateur athletes. But then as now, the Greek city-states wanted to win and paid for “amateur” training. De Coubertin argued that the Olympic movement should develop its definition of “amateurism” gradually, bringing nations together “to promote understanding across cultures, thereby lessening the dangers of war” was more important. As to the amateur nature of the Olympics, the current final Tokyo Olympics torchbearer is Japanese tennis player Naomi Osaka, the highest-paid female athlete in the world, earning approximately $40 million between June 2019 and June 2020. By contrast, American athlete Jim Thorpe was stripped of his 1912 Summer Olympics gold medals in the decathlon and pentathlon after it was learned that he had played professional baseball three years earlier. Times change. That the Olympics—ancient and modern—were to promote peace is a myth. The Greek city-states continued their wars during the games. And World War II was not cancelled for the Olympics; the Games were cancelled. Politics has always been a part of the Olympics. In 1908, the Grand Duchy of Finland competed separately from the Russian Empire but was not allowed to display the Finnish flag. Germany and Japan were suspended from the 1948 Olympics. The US boycotted the 1980 Olympics in Moscow. The USSR boycotted the 1984 games in Los Angeles. The Palestinian terrorist group Black September, which had ties to Yasser Arafat’s Fatah organization, killed 11 athletes, coaches, and judges at the 1972 Munich games. Now we come to the 2020—delayed to 2021—Tokyo Olympics, the “Most expensive, greatest gender parity with the most sports” in history. While the “Billionaire Space Cadets”—Bezos, Branson, and Musk— are demonized for spending their own money, why don’t we hear that the $30 billion the Japanese government is spending on the Olympics could be used to feed the poor? Or that NBC has sold $1.25 billion in ads for Tokyo Olympics, or the $3 billion that 60 Japanese corporate sponsors are paying? The biggest threat to the future of the Olympics is that very few cities want to host them. The games are financial losers. Montreal took about 30 years to pay off debt incurred in 1976. The original budget for the Athens 2004 games was $1.6 billion. Final cost: $16 billion. Brazil lost $2 billion in 2016. With the exception of Barcelona in 1992, no modern Games has raised a host city’s rate of economic growth, tourist income, or productivity. Bidding for the 2024 Summer Olympics became a two-city race between Paris and Los Angeles, so the IOC simultaneously awarded both the 2024 Games to Paris and the 2028 Games to Los Angeles. Is it time for the Olympics to be restrained and toned down? Since 2005

Global flooding should remind us that the clock is ticking Atty. Jose Ferdinand M. Rojas II

RISING SUN

he recent videos and photos of floods in the Philippines and in many other places around the world are terrible and alarming. As a developing country that has been through many disasters in the past, the Philippines annually suffers grave economic consequences from natural disasters. Many of us are probably dismissing these events as something that naturally happens in our country year in and year out. But times are definitely changing and extreme weather events are going to get even worse, according to experts. In fact, scientists and researchers say that cities will buckle under rising sea levels, heat will become intolerable, there will be ecosystem collapse and extinction of species, and human beings will face widespread diseases—and the worst part is that these future events may be closer than we think.

Thomas M. Orbos

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this one is different in that it shows a “grimmer scenario” and states that the actions currently being undertaken are simply not good enough as a response to impending disasters. Unlike other forms of life, the report states, humans cannot recover from drastic climate shifts because we cannot evolve into new species or create new ecosystems to be able to adapt. And on top of global warming and climate change impacts, human beings themselves are digging their own graves through over-exploitation of natural resources, pollution, destruction of habitats, and other destructive human activities. The alarm has been sounded

many years ago and that, many people believe, we have reached the point of no return. Crisis can no longer be averted, BUT there are steps we can still take to prepare for the impact and avoid the worst-case scenarios. For example, the conservation and restoration of ecosystems like mangrove forests can protect communities against storm surges, provide livelihood and food security, and ensure wildlife habitat. Another doable action is for more people to shift to a plant-based diet, which could help reduce food-related emissions by as much as 70 percent by 2050. In the Philippines, for example, government agencies have also started to implement a campaign to get rid of single-use plastic. All this is great but it is clearly not enough. All the experts agree that the world needs “transformational change operating on processes and behaviors at all levels: individual, communities, businesses, institutions, and governments.” In other words, all of us—no exception— must change the way we live and the way we consume.

Metro Manila floods and what we can do

BusinessMirror A broader look at today’s business Publisher

This is part of the contents of the 4,000-page draft climate report of the United Nations Intergovernmental Panel on Climate Change, to be released in February 2022. The Philippine Climate Change Commission got a copy of the report and has called for more urgent and ambitious action from the developed countries in addressing the climate crisis. There have been similar reports that were previously released, but

All the experts agree that the world needs “transformational change operating on processes and behaviors at all levels: individual, communities, businesses, institutions, and governments.” In other words, all of us—no exception—must change the way we live and the way we consume.

everal days of continuous downpour has left most of Metro Manila flooded, with thousands of residents finding themselves in evacuation centers amid this pandemic. And it seems that this has become the norm every time we hit the monsoon season, especially with the recognized effects of climate change upon us, which is now more pronounced than ever. We are one of the countries that are most vulnerable to natural disasters. Preparedness, therefore, is a must, more so for us in Metro Manila.

Remember Ondoy? That one shook us all up with millions stranded for days, and lives and properties lost. Ondoy’s economic damage was estimated to equal 2.7 percent of the country’s economy. This led the government to formulate in 2012 the Metro Manila Flood Management Plan, which serves as the backbone of our defenses to such flooding disasters. Expected to be completed in 2024, the $500-million project is jointly funded by both nationally sourced funds and a loan from the World Bank. The plan includes the rehabilitation of 36 existing pumping stations, most of which were built more than 40 years ago during the time of President Marcos; and the building of 20 new pumping stations in several waterways in

the National Capital Region. Designated implementors of the project are the Department of Public Works and Highways and the Metro Manila Development Authority. I was then the Officer in Charge of the MMDA when the project implementation phase began, and I can attest to the fact that we really needed to rehabilitate those stations. Most of them broke down easily, were costly to operate and difficult to maintain, with needed parts hard to find as they are already obsolete. It was a marvel and a testament to the creative resourcefulness of the MMDA flood engineers that we kept them running even beyond their intended lifetime. But infrastructure alone will not solve the flooding problem in Metro

The waste materials thrown in our water systems come from irresponsible individuals, residences, private and even government establishments. Guilt and accountability in this regard cut across societal boundaries.

Manila. We need to do our part as citizens in this metropolis. One reason for the recurring breakdowns of our flood control pumps is the waste materials that clog our waterways. And we are not just talking here of the waste thrown by informal settlers living along esteros. The waste materials thrown in our water systems come from irresponsible individuals, residences, private and even government establishments. Guilt and accountability in this regard cut across societal boundaries. One reason why some restaurant areas in our cities are always flooded is the presence of solidified cooking oil thrown in the sewers. Where else would that come from? There was also this one time that we found a private construction company that was doing work for the DPWH throwing their excess cement in a nearby manhole! Imagine what that would do. According to the MMDA web site, more than 32 truckloads or more than 100 tons of garbage are collected daily from all the pumping stations in Metro Manila. If we would believe an independent study done

this year by a foreign NGO, the Pasig River is one of the top 10 sources of plastic waste that find their way into our world’s oceans. Not a very good reputation, if this is true. We need therefore to be consciously aware of proper waste management as communities and as individuals. I believe MMDA Chairman Benhur Abalos is on the right track with his intention of promoting recycling from individual residences, rather than just doing river cleanups. And we also need to shore up our anti-littering enforcement with the necessary penalties imposed on violators. On the long-term solutions, we need to turn to education and information, especially with our youth sector. Not just theory-wise, but practicing this in their schools and in their homes. Climate change will definitely result in heavier downpours and more flooding. But at least we can have ways to prepare and mitigate its effects. Definitely, having the proper infrastructure is one solution. But more than that, our actions as individuals will greatly help. We need to be responsible for every unmindful waste that is thrown into our waterways. Fixing the floods is not just the government’s concern. It is also the responsibility of all citizens who call Metro Manila their home. The author maybe reached through: thomas_orbos@sloan.mit.edu

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The case of a successful business Dorelene V. Dimaunahan

DEBIT CREDIT

or many of us, the “new normal” made taking a good soak under the sun or enjoying a cool breeze on a hot day seem like a commodity. Since the long lockdown last year, people have been itching for the great outdoors more than ever. That’s why they keep trying out possible means that would allow for a safe and socially distanced option. For example, biking has become a popular choice for many people, whether it be for transportation or just a simple attempt to stay in shape after being stuck at home.

Setting up a business is about determining what the market wants and needs, or finding gaps in the market. Mr. Ron Tan, Chief Executive Officer of Viper Bicycles, saw the people’s need for fitness and sustainable lifestyles as far back as 2011. Observing how people used bikes for exercise, to commute, for recreation and competition, he knew right away he wanted to be in the bike industry. He knows that Viper Bicycles are in a good position to fill gaps in the market because of their quality and durability. The Covid-19 pandemic brought about unimaginable human suffering and loss of livelihoods. But the long lockdowns also helped improve the air quality in Metro Manila. People in the metropolis have shifted to biking since the air quality has greatly improved. Mr. Tan has always appreciated the benefits of biking. There’s pretty much no downside and hardly anything negative about a bike. It helps reduce traffic; it’s good for the environment, and it’s very good for exercise and fun. To support this sustainable lifestyle initiative, Viper Bicycles recently launched a campaign dubbed “Stay active in idle times: Let Viper launch your fitness journey.” The company launched this campaign to welcome strangers to the cycling community and help them in their journey as new biking enthusiasts. “You don’t have to be an athlete or a pro to enjoy biking. It’s for anyone looking for a fitness activity that has a heart for the environment,” Mr. Tan said. The goal is to introduce biking as the “new normal” for transportation and fitness activities. Having just about any bike for any kind of ride, Mr.

The Covid-19 pandemic brought about unimaginable human suffering and loss of livelihoods. But the long lockdowns also helped improve the air quality in Metro Manila. People in the metropolis have shifted to biking since the air quality has greatly improved. Tan said their bike list to choose from is endless. In the case of Viper Bicycles, the company embodies the “new norm” of entrepreneurship. Businesses do not merely focus on revenue streams but on what they can do better for the community and the environment. Today’s business model includes advocacies and initiatives that are both socially and environmentally responsible. Before this unfortunate pandemic started, many people were already using bikes as a mode of transportation, especially in the regions. I am very glad that even more people are doing it nowadays in the metropolis. I am optimistic for the cycling industry to grow even more. Once social gatherings become safer and things start to open up, I anticipate more fun biking events that will drive the interest of people to use this environment-friendly simple machine. Dorelene Dimaunahan is an entrepreneur, educator of the country’s top universities, a host and an author. She is also a Certified Franchise Executive, Certified Management Accountant and a Certified Human Resources Practitioner. This column accepts articles for publication from the business and academic community. Articles not exceeding 600 words can be e-mailed to jltantorres@up.edu.ph.

Monday, July 26, 2021

Reinsurance and retrocession support Philippine insurers

By Reynaldo A. De Dios

hen huge losses occur due to natural calamities and insurers are reported as having settled their enormous obligations, the insuring public often wonders at the financial ability of these insurers to make good their promise of indemnification. So much so that many are led to believe that the funds of insurance companies are almost inexhaustible. Such is not the case. The secret behind it all is REINSURANCE. Reinsurance is the term used to denote the transaction whereby an insurer who has insured a huge risk in turn insures a part of it with another company. As mandated by the Philippine Insurance Code, no insurer is allowed to retain for its own risk 20 percent of its net worth. The company offering insurance of this nature is called the ceding office, whilst the one accepting is known as the reinsurer. As a rule, the conditions on reinsurance are the same as those that apply to the original insurance. Hence, the reinsurer receives the same rate of premium and must pay its proportionate share of any claim. However, the commission granted by the reinsurer to the ceding office is higher as in addition to the commission paid the agent of the ceding office, it also includes the

expense involved in transacting the business. There are several classes of reinsurance treaties and these are as follows. 1. Quota Share is one whereby the ceding company is required to cede a fixed percentage of every risk it accepts from its clients. This class of treaty is not in common use as the ceding company loses in exercising its judgment of determining its retention. 2. The Surplus Treaty is very much preferred by insurers since they have the privilege of first fixing their retention before reinsuring the surplus of the risk. 3. The Excess of Loss Treaty is an agreement under which no part of any individual risk is reinsured but the ceding company arranges to seek protection only for the excess of any one loss above an agreed

Reinsurance and retrocession play vital roles as without these concepts, the world insurance industry would not be able to efficiently service the risks of commerce and industry as well as the needs of the individual life policyholder for the benefit of their families and loved ones.

amount. This class of treaty will test the skill of the ceding company’s underwriter. When a huge loss occurs and the insurer is reimbursed by its reinsurers, the question arises: How is it that reinsurers find it possible to settle all their obligations? The financial ability of the reinsurers to meet their commitments under their treaties is traced directly to another mandevised protection method termed RETROCESSION. It is defined simply as a reinsurance of a reinsurer. In other words, a reinsurer after receiving particulars of the risks ceded, will in turn arrange treaties with other companies to reinsure its surplus risks. Retrocession thus occupies an important role in the insurance industry. Without it, a reinsurer will

By Don Thompson | Associated Press

ACRAMENTO, California—As drought- and wind-driven wildfires have become more dangerous across the American West in recent years, firefighters have tried to become smarter in how they prepare. They’re using new technology and better positioning of resources in a bid to keep small blazes from erupting into mega-fires like the ones that torched a record 4 percent of California last year, or the nation’s biggest wildfire this year that has charred a section of Oregon half the size of Rhode Island. There have been 730 more wildfires in California so far this year than last, an increase of about 16 percent. But nearly triple the area has burned—470 square miles (1,200 square kilometers). Catching fires more quickly gives firefighters a better chance of keeping them small. That includes using new fire behavior computer modeling that can help assess risks before fires start, then project their path and growth. When “critical weather” is predicted—hot, dry winds or lightning storms—the technology, on top of hard-earned experience, allows California planners to pre-position fire engines, bulldozers, aircraft and hand crews armed with shovels and

chain saws in areas where they can respond more quickly. With the computer modeling, “they can do a daily risk forecast across the state, so they use that for planning,” said Lynne Tolmachoff, spokeswoman for Cal Fire, California’s firefighting agency. That’s helped Cal Fire hold an average 95 percent of blazes to 10 acres (4 hectares) or less even in poor conditions driven by drought or climate change, she said. So far this year it’s held 96.5 percent of fires below 10 acres (4 hectares). Federal firefighters similarly track how dry vegetation has become in certain areas, then station crews and equipment ahead of lightning storms or in areas where people gather during holidays, said Stanton Florea, a US Forest Service spokesman at the National Interagency Fire Center in Boise, Idaho. In another effort to catch fires quickly, what once were fire lookout towers staffed by humans have largely been replaced with cameras

be unable to relieve itself of the accumulation of risk resulting from receiving shares of the same risk in its different treaties. It may be concluded that the underwriting business is international in scope and as a whole has no geographical or racial limits. Even in life assurance, the same principle applies as life insurance companies will also limit their policy on an individual to an amount that is within their financial resources and underwriting standards. However, life insurers only reinsure the mortality risk of their policyholders but the savings portion of the premium is invested under the guidelines set in the Insurance Code and by the Insurance Commission. In conclusion, reinsurance and retrocession play vital roles as without these concepts, the world insurance industry would not be able to efficiently service the risks of commerce and industry as well as the needs of the individual life policyholder for the benefit of their families and loved ones. The author is a risk management consultant and Editor of Insurance Philippines magazine.

Reimagining elections and healthy democracy: Lessons from the Palawan plebiscite

lections during the Covid-19 pandemic can be done. The conduct of the Palawan plebiscite in March 2021 is a clear illustration and suggestion as to how the “new normal” for elections would be. More than a question of should the elections push through then, the question now is how can it be made safer for all participants and stakeholders.

The challenge of moving forward with the elections during a pandemic does not and should not mean a choice between prioritizing the health of the citizens and the health of the nation’s democracy. Indeed, Covid-19 is highly contagious and the health risks are more profound in the context of a lack of access to health care and a frail health-care system such as in the Philippines. However, the right of suffrage of all qualified citizens—an integral aspect of our democracy—cannot be denied. Now, it is imperative for the Comelec and the stakeholders to join in finding the balance between these rights and reimagining democracyin-action: Ensuring that we mitigate the health risks while ensuring the rights of citizens to be able to participate fully and meaningfully in

the election process. Grounded on its experience of monitoring and observation of the Palawan Plebiscite, the Legal Network for Truthful Elections (LENTE), through an Omnibus Code of Conduct and a policy paper, has recommendations on reforming the conduct of the upcoming elections. Safety protocols should be implemented to mitigate local transmission during electoral activities. Health workers should be tasked to conduct triage at the entrance of the voting center and to help monitor implementation as safety marshalls. Support staff should be deployed to man Voters’ Assistance Desks (VAD) and manage foot traffic. A reserved pool of Electoral Board Members should be established, to help prevent understaffing due to both health and

security concerns. The group also flagged the possibility of crowding around voters’ lists and within the waiting areas outside the polling precincts. LENTE also recommends that prospect voting centers be subject to safety inspection, audit and adjustments, taking cue from the Safety Seal program of the national government. On election day, voters should be given individual markers to avoid sharing and to prevent transmission. LENTE recommends that the Health Declaration Form (HDF) and the VAD form should be combined to further streamline the triage process. To improve accessibility, forms and signages should also be translated into English, Filipino, local language and other accessible formats. Then, to promote accountability and to bolster compliance among all stakeholders, violation of health protocols should be included in the election offenses. Public communication is crucial to ensure the effectiveness of these protocols. For LENTE, all forms of local media such as radio, televi-

New technology propels efforts to fight Western wildfires

in remote areas, many of them in high-definition and armed with artificial intelligence to discern a smoke plume from morning fog. There are 800 such cameras scattered across California, Nevada and Oregon, and even casual viewers can remotely watch wildfires in real time. Fire managers can then “start making tactical decisions based on what they can see,” even before firefighters reach the scene, Tolmachoff said. Fire managers also routinely summon military drones from the National Guard or Air Force to fly over fires at night, using heat imaging to map their boundaries and hot spots. They can use satellite imagery to plot the course of smoke and ash. “Your job is to manage the fire, and these are tools that will help you do so” with a degree of accuracy unheard of even five years ago, said Char Miller, a professor at Pomona College in California and a widely recognized wildfire policy expert. In California, fire managers can overlay all that information on highquality Light Detection and Ranging topography maps that can aid decisions on forest management, infrastructure planning and preparation for wildfires, floods, tsunamis and landslides. Then they add the fire behavior computer simulation based on weather and other variables.

Other mapping software can show active fires, fuel breaks designed to slow their spread, prescribed burns, defensible space cleared around homes, destroyed homes and other wildfire damage. “It’s all still new, but we can see where it’s going to take us in the future when it comes to planning for people building homes on the wildland area, but also wildland firefighting,” Tolmachoff said. Cal Fire and other fire agencies have been early adopters of remote imaging and other technologies that can be key in early wildfire detection, said John Bailey, a former firefighter and now professor at Oregon State University. Some experts argue it’s a losing battle against wildfires worsened by global warming, a century of reflexive wildfire suppression and overgrown forests, and communities creeping into what once were sparsely populated areas. Climate change has made the West hotter and drier in the past 30 years, and scientists have long warned the weather will get more extreme as the world warms. Yet, firefighters’ goal is to replicate the outcome of a fire that started Monday in the canyon community of Topanga, between Los Angeles and Malibu. It had the potential to swiftly

spread through dry brush but was held to about 7 acres (3 hectares) after water-dropping aircraft were scrambled within minutes from LA and neighboring Ventura County. What firefighters don’t want is another wildfire like the one that ravaged the Malibu area in 2018. It destroyed more than 1,600 structures, killed three people and forced thousands to flee. In another bid to gain an early advantage, California is buying a dozen new Sikorsky Firehawk helicopters—at $24 million each—that can operate at night, fly faster, drop more water and carry more firefighters than the Vietnam War-era Bell UH-1H “Hueys” they will eventually replace. It will also soon receive seven military surplus C-130 transport aircraft retrofitted to carry 4,000 gallons (15,140 litres) of fire retardant, more than three times as much as Cal Fire’s workhorse S-2 airtankers. For all that, firefighters’ efforts to outsmart and suppress wildfires is counterproductive if all it does is postpone fires in areas that will eventually burn, argued Richard Minnich, a professor in Riverside who studies fire ecology. “No matter how sophisticated the technology may be, the areas they can manage or physically impact things is small,” he said. “We’re in

sion, print and online platforms should be fully utilized to improve the reach and substance of information campaigns by the Comelec and the campaigns to be launched by the individual candidates. As a final note, the Palawan plebiscite proves that Covid-19 elections are possible but more difficult. The elections are expected to be more expensive than normal; however, the layers of challenges may be addressed by developing practices that balance the health risks and ensure that the democratic standards of credibility, transparency, inclusiveness, and accountability are safeguarded. The challenges must be well understood and addressed. The authorities should allow time for continuous dialogue between all stakeholders and the refining of the processes in “the new normal”. Ultimately, the importance should be placed on its people surviving the pandemic and also, the survival of our democracy. (The Legal Network for Truthful Elections contributed this article)

over our heads. You can have all the technology in the world—fire control is impossible.” Working with wildfires is more realistic, he said, by taking advantage of patches that previously burned to channel the spread of new blazes. Timothy Ingalsbee, a former federal firefighter who now heads Firefighters United for Safety, Ethics and Ecology, also said firefighters need to adopt a new approach when confronting the most dangerous winddriven wildfires that leapfrog containment lines by showering flaming embers a mile or more ahead of the main inferno. It’s better to build more fireresistant homes and devote scarce resources to protecting threatened communities while letting the fires burn around them, he said. “We have these amazing tools that allow us to map fire spread in real time and model it better than weather predictions,” Ingalsbee said. “Using that technology, we can start being more strategic and working with fire to keep people safe, keep homes safe, but let fire do the work it needs to do—which is recycle all the dead stuff into soil.” Associated Press writers Keith Ridler in Boise, Idaho, and Christopher Weber in Los Angeles contributed to this story.

Sports

I didn’t know what hit me–Yulo

BusinessMirror

OKYO—Carlos Yulo has turned his sights to the vault finals where he has a chance at landing a medal in the gymnastics competition of the Tokyo Olympics at the Ariake Arena. The 21-year-old Yulo, was a disappointment in his pet floor exercise, finishing in 44th place in the qualifying phase with a 13.566 effort. Yulo was way off the top 8 who will battle for the gold in the event where he won the world championship gold medal in Stuttgart, Germany, in 2019. The shy gymnast made up for it with a solid 14.712-point performance in the vault, good for sixth spot and a place in the finals

A10

| Monday, July 26, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

DIAZ TAKES SHOT AT GOLD MEDAL

THE US’s Alison Gibson and Krysta Palmer compete during the Women’s Synchronized 3m Springboard Final at the Tokyo Aquatics Centre on Sunday in Tokyo. AP

IRISH IMPRESSES IN TOKYO DEBUT By Jun Lomibao

OKYO—Irish Magno was in her comfort zone against Kenya’s Christine Ongare on Sunday, scoring a convincing 5-0 victory to become the second Filipino to advance to the round-of-16 of the Tokyo Olympics boxing competitions. Magno was the taller boxer in the women’s flyweight bout and was obviously the more skilled, dizzying Ongare with what the Philippine coaching staff described as “bread and putter punches.” “Irish pretty much was comfortable with the tactics that she used during sparring,” Team Philippines Coach Don Abnett said. “She punched and moved so well, using bread-and-butter punches.” For the Team Philippines coaching staff that include Nolito “Boy” Velasco, bread-and-butter punches refer to head and body punches. “Laban lang po,” Magno told Filipino reporters at the Mixed Zone (interview zone) of the Kokugikan Stadium. “Focused lang and huwag muna tayong mag-aim high.” Up next for Magno is Thailand’s Jutamas Jitpong, who also advanced to the last 16 following her victory over Algeria’s Roumaysa Boulam, also via a lopsided 5-0 score, on Sunday. Boulam is no alien to Magno, who she has repeatedly beaten in sparring sessions in the Filipinos’ pre-Games training camp in Thailand.

But Magno said she remains to be cautious. “Lahat naman ng kalaban dito nag-prepare,” said the 29-year-old Magno. “Pero ginagawan naman ng strategy at paraan nina coach Boy [Velasco] at coach Don [Abnett].” Magno squares off with Jitpong at 1:24 p.m. (Tokyo time), on July 29. Nesthy Petecio opened the country’s campaign in boxing on Saturday with her own 5-0 domination of the Republic of the Congo’s Marcelat Sakobi Matshu. Petecio, the 2019 world champion at Ulan-Ude in Russia, however, expects to have her fists full in the round-of-16 where she is pitted against women’s featherweight top seed Lin Yuting of Chinese-Taipei on Wednesday. Lin, the New Delhi world champion in 2018, drew an opening round bye. On Monday, Carlo Paalam climbs the ring in a men’s flyweight round-of-32 bout against Ireland’s Brendan Irvine on Monday, while Eumir Felix Marcial, the No. 4 middleweight who drew an opening round, fights on July 29 opposite either Algeria’s Younes Nemouchi or Uganda’s Kavuma David Ssemujju.

“Kung baga sa basketball, dati half court lang ang inilalaro mo, ngayon full court,” Sambrano said. “The competitors will do battle in a bigger, grander course.” Didal’s event—women’s street—starts with the preliminaries 8:30 a.m. (7:30 a.m. in Manila) with DIDAL the final set is at 1:30 p.m. “The duration is the same. It’s still 45 seconds but in a bigger play,” Sambrano said. “The participants will make two runs and perform five tricks.” Didal won gold medals at the Jakarta 2018 Asian Games and the Philippines 2019 Southeast Asian Games, but at the Tokyo Olympics, the 22-year-old is ranked No. 17 and expecting

Tough road for US RICK OLIVARES | bleachersbrew@gmail.com

BLEACHERS’ BREW KHRIS MIDDLETON, Jrue Holiday and Devin Booker will all be playing when the United States looks to defend its Olympic men’s basketball gold medal in Tokyo. That all three pushed through despite an exhausting and emotional National Basketball A Finals series that went six games where the Bucks came back from a

0-2 hole to win is a wonder. There’s not much rest and well, in the case of Booker, it’s dealing with emotions that could still be raw after the loss. At times during the finals, it looked like he was waging a war by his lonesome as some of his teammates disappeared. Nevertheless, I can understand all three of them keeping their

OKYO—Hidilyn Diaz’s shot at an Olympic weightlifting gold medal comes around on Monday evening at the Tokyo International Forum. A silver medalist in Rio de Janeiro five years ago, Diaz’s chance to better that result starts at 6:50 p.m. (Tokyo time).

HIDILYN DIAZ trains with strength and conditioning Coach Julius Naranjo.

Association of Boxing Alliances in the Philippines President Ricky Vargas hailed Magno and Petecio for their accomplishments this early in the Games. “We are happy and grateful for this good start,” Vargas said. “Nesthy and Irish showcased their good preparation, determination, and will to win. But the road is long and we all need to hope and pray for continued success.” “The men start tomorrow [Monday] with Carlo Paalam. We will be with him in prayer and spirit,” Vargas added. “And with Eumir Marcial as well when his turn comes.” IRISH MAGNO outclasses Christine Ongare of Kenya. AP

But Diaz lifting her way to a gold medal—the first since the Philippines started participating in the Games in Paris in 1924— doesn’t look that easy. An Associated Press prediction of potential medal winners at the Tokyo Olympics included Diaz, but for a bronze medal in the women’s 545-kg class. In front of the four-time Olympian are world-record holder Liao Qiuyun of China and Zulfiya Chinshanlo of Kazakhstan. “It’s a lot of pressure,” Diaz has repeatedly said. Liao, at 26 four years younger than Diaz, owns world records in the clean and jerk (129 kgs) and total lift (227). Chinshanlo, on the other hand, remains a suspect with credentials that don’t shadow the Chinese star. Julius Naranjo, Diaz’s strength and conditioning coach, however, said the reigning Asian Games champion has something up her arms and legs. “You will expect Hidilyn lift weights that you’ve never seen before. She’s on track. She’s going to put on a show,” Naranjo said. Naranjo said that Diaz has been hitting new personal marks this late in her career. The other Philippine bet in weightlifting, Elreen Ando, is due for her Olympic debut in women’s -64 kgs on Tuesday. Jun Lomibao

Ramirez consoles Caloy, Kurt and co.

Cebuana Didal in high spirits for biggest stage OKYO—Margielyn Didal gets the opportunity on Monday to bring her skateboarding act to the world’s biggest sporting stage—the Olympics. Skateboarding is one of four sports making their debut in the Games—the others are surfing, karate and sports climbing—and the entire Philippines will be watching as to whether the free and easy Cebuana could be at par with the world’s best in perhaps one of the most exciting and surprise-filled sports. “She’s alright and ready,” Didal’s coach, Daniel Bautista, told BusinessMirror. “She’s just chilling about.” Didal went her usual way practicing on Sunday at the Ariake Sports Park, a facility Skateboard Pilipinas president Carl Sambrano described as a “full court” if it was a basketball court.

set on August 2. “Nagulat nga po ako,” Yulo said of his performance in the floor exercise. “Hindi ko po alam na nakapasok ako.” Yulo has not reached the finals of the vault in any major tournament until Tokyo, but promised to make the most of the opportunity. To make the podium, Yulo said he may need to get to the 15 level, which he said will entail sticking both his landings in the finals. “Malabo po. Marami pong magaling,” he said when asked about his medal chances. “Pero kaya pa pong itaas ’yan [14.712 in qualifying].” Jun Lomibao

OKYO—Losing happens even to the best of ’em. This was the message of Philippine Sports Commission chairman William “Butch” Ramirez to Filipino athetes, who suffered heartbreaking setbacks during the first day of competitions of the Summer Olympic Games. Taekwondo jin Kurt Barbosa and Filipino-American swimmer Remedy Rule were eliminated right on the first day of competition, while world champion gymnast Carlos Yulo, one of the country’s brightest hopes for a gold medal in these games, failed to advance to the finals of his favorite the men’s floor exercise and five other events, making only the vault

championship round. “Si Caloy, first time sa Olympics. I got to talk to him before his vault competition. Sabi ko sa kanya na ‘wag siya masyadong mag-worry kasi it really happens,” said Ramirez, citing Japanese legend and two-time Olympic champion “King Kohei” Uchimura, who fell off the horizontal bar and failed to advance during the men’s gymnastics qualifying round on Saturday. “Kahit ‘yung Japanese two-time world champion, natalo, nahulog sa bar,” Ramirez said. The PSC chief said pressure from the Filipino public and high expectations that stemmed from the Philippines’s 97-year-old gold medal drought in the Olympics

proved simply too much for the Filipino Olympians to handle. “Medyo frustrating because we are expecting the elusive gold since 1924,” Ramirez said. The journey to Olympic glory doesn’t happen overnight, Ramirez said. “Naawa ako sa bata (Yulo) dahil he was pressured. Nakita ko na umupo siya sa ibaba. I would imagine as an athlete ‘yung frustration nu’ng bata, but Caloy should not worry because he has Paris Olympics to look forward to,” said Ramirez, who also made an example of Olympic silver medalist Hidilyn Diaz, who took three Olympics (Beijing, London, Rio) before clinching a medal.

world-class challenges from skateboarders from powerhouse US, Brazil and Japan. World Nos. 1 and 2 Pamela Rosa and Rayssa Leal of Brazil, No. 3 Aori Nishimura of Japan, Leticia Bufoni also of Brazilian and Momiji Nishiya also of the host country will be bringing the skateboarding competitions—which also features events in park—to levels that could exceed X-Games feats. “The world’s best are here and we expect the competition to be very tough,” Bautista said, adding Didal didn’t tinker much with her tricks.“She’ll basically do the same tricks that she’d used in past competitions, but we focused on limiting mistakes.” Jun Lomibao

OKYO—Cris Nievarez’s future in Olympic rowing began the moment his campaign at the Tokyo Olympics ended on Sunday morning. Nievarez was fifth in his quarterfinal-round group to paddle out of medal contention. Only 21 and in his first Olympics, Nievarez has an entire Olympic future ahead of him. “This will be a major learning experience for Cris,” said Magnum Membrere, a former

college basketball star who turned to rowing and is now treasurer of the Philippines Rowing Association. “He’s young and he’s determined,” added Membrere of Nievarez, the only Southeast Asian in the men’s single sculls event. “Malaking bagay ang experience na nakuha ko dito sa Tokyo Olympics, sabi nga ni Sir Magnum, learning experience,” Nievarez said. “Malaking dahilan

ito para pagbubutihin ko pa at aasamin na makarating ako sa Paris [2024 Olympics].” “Nakita ko na rin ang mga strength ng mga kalaban at alam ko na kung anong aspects ang kailangan i-improve,” he added. Nievarez was the first Filipino on the block in these unique Olympics and didn’t disappoint on Friday. He earned a quarterfinal round seat that set off the Philippine campaign to a comfortable start. Jun Lomibao

word to suit up. Opportunities like these do not come all the time. That they are even considered for the Olympic team is massive for them as a player and for their résumés, careers, and commercial ventures. Playing in the NBA Finals and in stellar fashion should also give their confidence a massive boost. And now there’s the Olympics. There are only two returning players from the 2016 Rio gold medal-winning squad—Kevin Durant and Draymond Green. The rest will be wearing those Olympic kits for the first time and that includes Bad Adebayo (Miami Heat), Jerami Grant (Detroit Pistons), Zach Lavine (Chicago Bulls),

Damian Lillard (Portland Trail Blazers), Jayson Tatum (Boston Celtics), Keldon Johnson (San Antonio Spurs), and JaVale McGee (Denver Nuggets). Tatum and Middleton both suited up for the US in the 2019 Fiba World Cup where they lost to France in the quarterfinals. This squad that is coached by Gregg Popovich has average age is 28 with an average height of 6-foot-7. Some squads like Germany and France are taller than them. Given that many of their stars opted not to play and considering Team USA’s early losses in scrimmages and the Covid situation that creates all sorts of uncertainty, one can surmise that

it will not be any easy campaign for the Americans. By the time this column sees print, the first assignment of the US—France—will have been played and it will not be easy as the French are seeded to win a medal. The French have talent. They finished third in 2019 Fiba World Cup and have veteran NBA talent in Rudy Gobert, Nicolas Batum, Evan Fournier, Timothe Kongbo, and Frank Ntilinka plus savvy veterans and international talent in Nando de Colo and Andrew Albicy. If the French must upend the Americans as they did in 2019, it will have to be with their defense. And they do have Gobert who can change shots.

They’ll also face Iran and the Czech Republic. Iran has some talented young players but some ageing veterans who I have no idea how they will perform. Sammad Nikkhah Bahrami is 38 years old. I am surprised he is still here along with Hamed Haddadi who is 36. Can Bahrami summon his old explosiveness and power? The Czechs also have a veteran side and are led by Tomas Satoransky, Blake Schlib, Patrik Auda, Ondrey Balvin, and Jan Vesely. It would be unwise for the Americans to look past their group. They are primed for an ambush somewhere if they let their overconfidence get the better of them.

Nievarez looks forward to bright Olympic future

Editor: Jennifer A. Ng

Companies BusinessMirror

Monday, July 26, 2021

Meralco: More priority sites now have access to electricity

By Lenie Lectura

@llectura

he Manila Electric Co. (Meralco), the country’s largest electricity distribution utility, has achieved its target of electrifying 536 priority sites as of June this year. From only 492 priority sites energized in May, Meralco said in a statement that it was able to hit its target to power up 536 priority sites. Some 19,332 households are now enjoying the benefits of efficient and reliable electricity as of June, the company said. Meralco has set aside a budget of more than P1 billion for its electrification program, with the bulk allocated for the southern part of its coverage area. “Our commitment to provide

electric service to our unserved and underserved customers through our Meralco Electrification Program projects is on track. We have also identified and are energizing the remaining households to fully energize our entire franchise area,” said Joe Zaldarriaga, Meralco Spokesperson and Vice President for Corporate Communications. Meralco set its target of electrifying 100 percent of its franchise area in 2020. However, the lockdown imposed in the country

delayed several projects. “The imposition of community quarantines was indeed a challenge but this did not stop us from ensuring our commitment to continuously provide adequate, stable and reliable power to all our customers, especially that electricity plays a very crucial role amid the country’s ongoing vaccination program,” Zaldarriaga said. Meralco’s electrification program is in compliance with the Department of Energy’s (DOE) call for distribution utilities (DU) and electric cooperatives (EC) to power up the entire Philippines. DOE Secretary Alfonso G. Cusi issued in 2019 a directive for all DUs and ECs to “attain 100 percent household electrification by 2022.” To totally electrify hard-to-reach places, such as small islands, Meralco has taken the initiative to serve these areas using microgrid systems powered by renewable energy. These

systems use solar power backed up by batteries and diesel generators to ensure uninterrupted electric service. Meralco is the largest power distributor in the Philippines, serving Metro Manila as well as nearby provinces of Bulacan, Cavite and Rizal and parts of Laguna, Batangas, and Quezon. As of the first quarter, Meralco’s customer count was at 7.2 million. Of the total, 92 percent comes from the residential sector, while 8 percent from commercial, and the rest from industrial. The company’s social development arm, One Meralco Foundation (OMF), also complements the energization program with its own efforts in household and school electrification. Under school electrification, OMF typically installs 3-kilowatt solar PV systems to power lights, fans, and learning tools in off-grid schools.

Greenergy forges deal with DITO G

reenergy Holdings Inc., a listed company led by businessman Antonio Tiu, has

signed an agreement with DITO Telecommunity Corp., the country’s third telecommunications firm, for

STOCK-MARKET OUTLOOK Last week

Share prices fell last week, with the main index slipping into the 6,500-point level, as investors were spooked by the Delta variant of Covid-19. The benchmark Philippine Stock Exchange index (PSEi) fell 173.09 points to close at 6,520.74. The four-day trading week was marked by volatile trading sessions, with the main index falling by more than 200 points during the first two days of trading, and then closing at the 6,400-point mark on Wednesday. It recovered half of its losses on Thursday and then gave up another 55.88 points on Friday. Average daily trading for the week was at P4.78 billion as investors stayed on the sidelines. Foreign investors made up a third of the trades and were net buyers at P3.1 billion. All other sub-indices closed in the red, led by the broader All Shares index that fell 99.43 points to 4,038.51, the Financials index declined 38.13 to 1,415.62, the Industrial index slipped 234.37 to 9,159.48, the Holding Firms index retreated 100.98 to 6,550.32, the Property index plunged 157.82 to 3,042.54, the Services index shed 32.78 to 1,552.37 and the Mining and Oil index was down 163.58 to 9,486.53. Losers edged out gainers 185 to 40 and 19 shares were unchanged. Top gainers for the week were Del Monte Pacific Ltd., Primex Corp., Mabuhay Holdings Corp., Acesite (Phils.) Hotel Corp., Atlas Consolidated Mining and Development Corp., Waterfront Philippines Inc. and Nickel Asia Corp. Top losers, meanwhile, were Vulcan Industrial and Mining Corp., Greenergy Holdings Inc., Apollo Global Capital Inc., Ever-Gotesco Resources and Holdings Inc., Premiere Horizon Alliance Corp., Boulevard Holdings Inc. and Benguet Corp. A and B shares.

This week

Share prices may continue to fall this week as investors will remain cautious due to the Delta variant. Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said the local transmission of the Delta variant is seen to weigh on sentiment since it raises the risk of resurgence in Covid-19 cases which would be detrimental to the country’s public health and economy. “If more confirmed local cases with the Delta variant are reported next week, then we may see heavy sell offs in the market. The reversion of the National Capital Region to GCQ [general community quarantine] with heightened restrictions is also expected to weigh on the market. This is due to the economic losses anticipated from the imposition of relatively tighter measures against the productive capacity of the biggest contributor to our GDP,” he said. Broker 2TradeAsia, however, said investors will be both cautious and flexible on the emotionally charged markets, and will be wary of “overly” pessimistic trades. “Brace for July month-end window dressing ahead of the (Chinese) Ghost Month,” it said. The PSEi’s support is seen at 6,400 points while resistance is seen at 6,600 points.

Stock picks

Broker Regina Capital Development Corp. advised investors to take their positions on the stock of AC Energy Corp. as it has finally found stable price footing. “The past three trading sessions saw the stock consolidating at the P8 level and forming a new base. Indicators, while still biased on the downside, are showing a slight decline in selling pressure. There needs to be an increase in both momentum and volatility for it implies a venture outside of its sideways trading range,” it said. AC Energy’s shares closed Friday at P8 apiece. Meanwhile, the broker gave the same advice and urged investors to take their positions on the stock of lender Metropolitan Bank and Trust Co. as it snapped its four-day losing streak despite still trading at significantly lower ranges on a monthly basis. “After very briefly hitting oversold levels, it immediately reversed the downturn and started stabilizing. The decline in selling pressure that fueled this rebound seems to be gaining momentum as well. With this, we do not expect another retest of the P44 levels anytime soon. It is highly likely that this support will hold, at least for the remainder of the week,” it said. Metrobank shares closed last week at P44.50. VG Cabuag

various collaboration efforts aimed at expanding their businesses in the Philippines. Greenergy said it will render commission-based lead generation services to DITO to lead the public to DITO-related programs and services through offline or online or digital means using its own system or the system of any of its thirdparty affiliates. “The company and DITO will also collaborate in other areas through co-marketing efforts to support the expansion of DITO’s client base and at the same time promote the company’s digital initiatives,” Greenergy said. The memorandum of agreement signed by the two firms will have a term of one year, renewable upon the agreement of the parties. “This collaboration between the company and DITO will pave the way for the conversion of the company’s existing clients, partners, and affiliates to become DITO mobile subscribers, and will expand the Company’s vision to build a digi-

tal ecosystem for the agricultural sector under vision GREEN2030,” Greenergy said. DITO, a company led by Davaobased businessman Dennis Uy, has just started its operations and is competing directly with telco giants PLDT Inc. and Globe Telecom Inc. Greenergy said Singapore-based Aleta Planet is keen on partnering with the company for the issuance of virtual cards as well as cross-border money remittance services. Under the proposed collaboration, Aleta Planet, a member of UnionPay International, will provide its proprietary technology solution to issue co-branded virtual UnionPay cards to individual clients through Greenergy and its affiliates. This will enable ease of payment collection and a fully digital cross-border money remittance service to UnionPay accounts. Greenergy, in turn, shall promote the use of virtual accounts and cross-border remittance services to the customers and clients of its subsidiaries and affiliates. VG Cabuag

Outstanding CSR projects honored

OP companies in the country, through their corporate social responsibility (CSR) arms, were feted for their outstanding projects across different fields. The League of Corporate Foundations (LCF), a network of the largest operating and grant-making corporate foundations and corporations in the Philippines, named the winners of the 2021 CSR Guild Awards as part of the organization’s 25th founding anniversary. Ayala Foundation was the most awarded after bringing home two of the seven main categories that acknowledge best practices in the field of CSR. These were the Disaster Resilience and Arts and Culture

segments for its “Be A Bayani. #BuyAni” and “Ayala Museum Virtual” projects, respectively. Knowledge Channel Foundation won the accolade for Education for its “School at Home: Learning Continues with Knowledge Channel in a Time of Crisis” campaign, which made possible distance learning amid the Covid-19 pandemic. For Enterprise Development, Telus International Philippines Foundation was cited for “Weavers Without Borders: Economic Transformation of Palawan Community Weavers Amidst the Pandemic” drive to help them become resilient and continue their livelihood operations. Roderick L. Abad

Companies BusinessMirror

Monday, July 26, 2021

Invest in S&P 500 firms via new UITF product–RCBC

By VG Cabuag

@villygc

ender Rizal Commercial Banking Corp. (RCBC) said it will unveil a new unit investment trust fund (UITF) product that will make investing in the United States equity market easier for a minimum amount of $200.

The bank said it is launching the RCBC US Equity Index Feeder Fund (RUEIF), a UITF that invests at least 90 percent of its funds in Blackrock Fund Advisors’ iShares Core S&P 500 Exchange Traded Fund (IVV). The IVV, in turn, tracks the investment performance of the S&P 500 Index, widely regarded as the best single gauge of large-cap US equities, by investing in such corporate giants as Tesla Inc., Apple Inc.,

Microsoft Corp., Amazon.com Inc., Facebook Inc. and other leading US companies. “The initial investment amount is $200, one of the lowest and most affordable in the Philippines, with no holding period and with a short settlement date of four banking days after the redemption transaction,” the bank said. Clients who are aggressive in terms of their investments can see

potentially higher returns for their funds in the RUEIF through capital growth. “Investing in RUEIF is also a good opportunity for clients to diversify their investment portfolios and have exposure to global markets.” Investing in the said product is available online and those who want to invest need to enroll in the fund by logging in to the RCBC online banking retail website. The bank also offers a wide range of UITFs including its RCBC Peso Short Term Fund, Rizal Peso Money Market Fund, Rizal Peso Cash Management Fund, Rizal Dollar Money Market Fund, Rizal Peso Bond Fund, Rizal Dollar Bond Fund, Rizal Balanced Fund, Rizal Equity Fund, RCBC R25 Dividend Equity Fund, and the RCBC R25 Blue-Chip Equity Fund. UITFs are pooled funds from individuals and institutions that are invested in different financial

instruments with an initial investment. The minimum amount required to start investing in UITFs with RCBC is P5,000. Blackrock is the world’s largest asset manager with assets under management of $8.68 trillion as of end-2020. The RCBC Trust and Investment Group oversees investments for UITFs, investment management accounts, and trust accounts, among others. RCBC said it has recently complied with the Asset Manager Code of Professional Conduct and Global Investment Performance Standards of the Chartered Financial Analyst Institute, which the bank said signifies its commitment in growing and protecting the wealth and investments of its stakeholders. The bank also has one of the top trust businesses with P127 billion in assets under management as of 2020.

‘IPO unlocked ALI’s potential’

aking Ayala Land Inc. (ALI) public three decades ago despite many uncertainties has allowed the property developer to unlock its potential and has opened opportunities for the company’s expansion into new areas, the company’s chairman Fernando Zobel de Ayala said. “The ALI of today is a product of the hard work, values, and vision of many enterprising and committed people over the past three decades, including the many clients, merchants, and partners who have trusted us over the years as well,” Zobel said on Friday. Ayala Land went public on July 5, 1991 with a P2.5 billion stock offering, despite a challenging business environment brought about by crises, such as the Gulf War and the Mt. Pinatubo eruption. The company offered a total of 96 million class B shares at a price of P26 per share, making it the largest initial public offering (IPO) at the time. The listing was well received by the market as it was four to five times oversubscribed, and the proceeds generated were used to finance real estate development projects and future acquisitions. Ayala Land’s shares

were last traded at P33.15 apiece. The company today maintains a total land bank of 12,483 hectares nationwide and has widened its reach through diversified offerings across five residential brands, with 2.12 million square meters of malls, 1.23 million square meters of offices, 4,030 hotel and resort rooms and a recent expansion into new leasing formats such as warehousing, dormitories and co-working spaces. “The company’s total assets, revenues, and net income have posted compounded annual growth rates of 16 percent, 12 percent and 9 percent, respectively, since our listing. These results have brought ALI’s market capitalization from P42 billion in 1991 to over P500 billion at present, a near 14-fold increase, making Ayala Land among the largest companies in the Philippine Stock Exchange Index,” Zobel said. “The success of Ayala Land in the last 30 years is a testament to the confidence that its stakeholders has placed in the company—that it will rise above challenges and continue to deliver its brand of excellence in all its projects and in the way it takes care of its stakeholders,” PSE president and CEO Ramon S. Monzon said. VG Cabuag

www.businessmirror.com.ph

DITO CME partners with Jobstreet PHL

ITO CME Holdings Corp.’s LUNA Academy has partnered with Jobstreet Philippines to provide an accessible online learning platform for Filipino job seekers. DITO CME COO Donald Lim said the platform will provide users with “an effective learner experience and will also aid in delivering various training programs to add and provide more skills to Filipinos.” “In the new and emerging economy, there is a strong need for us Filipinos to finally embrace the challenges and see these challenges as opportunities to expand on our competencies as a productive and forward-thinking workforce,” he said. The platform will also offer access to certification programs such as those from Microsoft, Amazon Web Services (AWS), and Alibaba Cloud. LUNA Academy is a joint venture between CloudSwyft and DITO CME. “We believe an online platform like Luna Academy, delivered via world-class technology that provides fair and equal access not just to those in big cities or to

those with the financial capacity to take a career break and study full time, and made available and affordable to most Filipinos, is the best way for us to help deliver a more positive future for all,” Cloudswyft Founder Dann Angelo De Guzman said. In Apr il, the company announced that it is working with Microsoft to push digital transformation through upskilling of Filipinos through online education platform LUNA Academy. Microsoft has been tapped as one of the primary technology skills content and certification partners of LUNA Academy, and will support the delivery of premium online technology skills training to Filipinos. “LUNA Academy is a Philippines-focused platform, initially anchored on job-ready digital skills, that facilitates the timely upskilling of a generation of Filipinos by providing them world-class certifications, preparing them for exciting career opportunities that the new economy will provide in the years and decades ahead.” DITO CME is the communications, media, and entertainment arm of the Udenna Group. Lorenz S. Marasigan

mutual funds

July 23, 2021

NAV

One Year Three Year Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

211.41

6.18%

-5.75%

-5.37%

ATRAM Alpha Opportunity Fund, Inc. -a

1.3611

32.73%

-1.65%

-0.16%

3.66%

9.03%

-9.89%

-7.94%

-6.74% -7.38%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9218

-6.96%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7446 9.26%

-5.74% n.a.

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7305 10.83%

-4.46% n.a.

First Metro Save and Learn Equity Fund,Inc. -a

-3.72%

-3.51%

-5.49%

First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6922

2.84%

-6.81%

-7.48%

MBG Equity Investment Fund, Inc. -a

-2.82% n.a.

-3.35% -7.66%

4.6699

98.53

9.29% 22.87%

-1.5%

PAMI Equity Index Fund, Inc. -a

43.2581

8.13%

-4.03%

-4.39%

Philam Strategic Growth Fund, Inc. -a

454.65

5.99%

-3.94%

-4.76%

-7.02%

Philequity Alpha One Fund, Inc. -a,d,5

1.0447

19.45% n.a. n.a.

-4.79%

Philequity Dividend Yield Fund, Inc. -a

1.1131

9.96%

-3.35%

-3.51%

-4.72%

Philequity Fund, Inc. -a

32.5639

9.27%

-3.25%

-6.34%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8441

6.83% n.a. n.a.

-7.55%

Philequity PSE Index Fund Inc. -a

4.4372

8.87%

-3.4%

-7.39%

Philippine Stock Index Fund Corp. -a

-3.63%

742.55

8.83%

-3.31%

-3.75%

-7.37%

Soldivo Strategic Growth Fund, Inc. -a

0.6795

10.27%

-7%

-6.67%

-5.48%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3838

-6.62%

7.37%

-5.45%

-5.01%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8477 8.35%

-3.68%

-3.9%

-7.63%

United Fund, Inc. -a

-3.77%

-2.94%

-6.37%

-3.12%

-3.22%

3.1075

8.87%

-8.9%

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c

99.6673

8.8%

-7.33%

Primarily invested in foreign currency securities $1.2271

17.9%

6.4%

7.13%

2.01%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.798

ATRAM AsiaPlus Equity Fund, Inc. -b

22.5%

11.45%

11.83%

7.48%

-0.85%

Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a

1.6544

5.71%

-0.11%

-2.43%

ATRAM Philippine Balanced Fund, Inc. -a

2.1679

5.3%

-1.22%

-2.08%

-5.14%

First Metro Save and Learn Balanced Fund Inc. -a 2.5263

4.64%

-0.44%

-1.33%

-3.83%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1887

1.83% n.a. n.a.

NCM Mutual Fund of the Phils., Inc. -a

1.9118

3.79%

1.33%

-0.55%

-2.66% -5.28%

PAMI Horizon Fund, Inc. -a

3.5882

2.62%

0.42%

-1.89%

Philam Fund, Inc. -a

16.0874

3.31%

0.53%

-1.85%

-5.01%

Solidaritas Fund, Inc. -a

2.0018

4.24%

-0.97%

-1.51%

-4.41%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4219 4.29%

-1.83%

-2.85%

-4.23%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.967

2.27% n.a. n.a.

-5.44%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8728

3.16% n.a. n.a.

-8.05%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8575

4.48% n.a. n.a.

Sun Life Prosperity Dynamic Fund, Inc. -a

5.53%

0.8528

-2.43%

-3.29%

-4.98%

-8.1% -3.93%

Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a

$0.03834

-1.82%

2.88%

1.32%

-1.99%

PAMI Asia Balanced Fund, Inc. -b

$1.1108

7.93%

3.69%

3.88%

-3.43%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7343 17.01%

8.79%

8.27%

4.91%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.218 8.32%

5.18%

4.53%

1.32%

Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a

372.4

1.42%

3.14%

2.41%

0.36%

ATRAM Corporate Bond Fund, Inc. -a

1.9239

-1.1%

1.06%

0.15%

1.24%

Cocolife Fixed Income Fund, Inc. -a

3.2335

1.17%

3.67%

4.29%

0.58%

Ekklesia Mutual Fund Inc. -a

2.2625

-1.83%

2.19%

1.21%

-1.46%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4429 -0.37%

3.31%

1.7%

-0.42%

Philam Bond Fund, Inc. -a

4.4907

-3.64%

4.44%

1.11%

-3.1%

Philam Managed Income Fund, Inc. -a,6

1.317

1.11%

4.01%

2.68%

-0.32%

Philequity Peso Bond Fund, Inc. -a

3.9819

0.44%

4.5%

1.86%

-0.48%

Soldivo Bond Fund, Inc. -a

1.0366

-0.21%

4.78%

1.48%

-0.52%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.215

1.1%

5.34%

2.13%

0.28%

0.24%

4.63%

1.45%

-0.3%

Sun Life Prosperity GS Fund, Inc. -a

1.7498

Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a

$486.74

2.19%

3.16%

2.17%

0.59%

ALFM Euro Bond Fund, Inc. -a

Є220.2

1.84%

1.05%

0.94%

0.47%

ATRAM Total Return Dollar Bond Fund, Inc. -b

$1.201

-2.67%

2.52%

1.33%

-6.2%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0261 - 0.76%

1.85%

0.78%

-1.88%

PAMI Global Bond Fund, Inc -b

$1.0579

-2.13%

0.68%

-0.81%

-3.18%

Philam Dollar Bond Fund, Inc. -a

$2.5197

1.39%

5.1%

1.92%

-0.63%

Philequity Dollar Income Fund Inc. -a $0.0630307 3.55%

3.57%

2.13%

1.14%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1871 -1.18%

3.36%

0.72%

-1.13%

Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a

2.53%

0.43%

First Metro Save and Learn Money Market Fund, Inc. -a 1.0537 1.05% n.a. n.a.

130.37

1.46%

0.53%

Sun Life Prosperity Money Market Fund, Inc. -a 1.3064

0.76%

1.66%

3% 2.82%

2.55%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.058

1.14%

1.65% n.a.

0.53%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.3109

28.39% n.a. n.a.

16.05%

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99

4.21% n.a. n.a.

1.02%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019. 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019. 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Adviser wants safeguard rules vs PHL-made vehicles removed Tyrone Jasper C. Piad @TyronePiad

HE Tariff Commission (TC) reported that the locally produced motor vehicles are “directly competitive” products to imported units, recommending the removal of safeguard measure imposed on said items. The commission in a recent report shared that the locally manufactured passenger cars and light commercial vehicles can compete with imported units of the same kind because “they are substitutable with the latter in the market by providing consumers with an alternative for satisfying their needs and tastes for said product.” The probe revealed there was no surge of imports of passenger car and light commercial vehicle units during the point of investigation from 2014 to 2020, both in absolute terms and relative to domestic production. Since there was no increase in imports, TC said the “determination of serious injury or threat thereof, causation and unforeseen developments has become moot and academic.” As such, the body recommended that no definitive general safeguard measure should be in place for the importation of the said products.

The investigation ensued following the petition by the Philippine Metalworkers Alliance claiming that a safeguard measure on vehicle imports should be in place to protect the local sector. The surge of car imports in the country, the group said, has posed threat to the Philippine automobile manufacturing industry. According to Republic Act 8800 or the Safeguard Measures Act, the government may impose “general safeguard measure upon a positive final determination of the Commission that a product is being imported into the country in increased quantities ...as to be a substantial cause of serious injury or threat thereof to the domestic industry.” In January, the Department of Trade and Industry imposed provisional safeguard duties in the form of a cash bond amounting to P70,000 per unit for imported passenger cars and P110,000 per unit for imported light commercial vehicles. Based on DTI’s previous reports, both the imports of passenger cars and light commercial vehicles increased significantly compared to domestic production during the period of investigation. The BusinessMirror sought comments from the Trade department but has yet to receive a reply as of writing.

Perspectives Cyber security gaps in infrastructure

HOUGH cyber security experts have long warned of the threats to nations’ critical infrastructure, recent incidents are now opening the eyes of business and political leaders to the ecosystem risks of the world’s connected utility networks, power grids and other essential services. Plugging these security gaps will require collaborative strategies—both ‘inside’ and ‘beyond the box’—among business, governments and the tech sector, to try to remedy ecosystem weaknesses that could cause massive disruption, financial damage or loss of life.

Overlooked ecosystem risks

WHILE industry and governments have invested heavily in cyber security—building cyber ‘walls’ around internal company networks and legislating national security guidelines for domestic industries—less attention is paid to the risks posed ‘outside the box’, by the growing web of interconnected infrastructure. Recent headlines are jarring, including images of shuttered gas stations and grounded airliners after a ransomware attack on a major U.S. pipeline company. Similarly, news bulletins described how patient treatments were suspended in Irish hospitals after a crippling hack on the national health system. Suddenly, it’s clear how a single attack on a seemingly isolated computer system can spill across an entire supply chain or disrupt vital public services. For business or political leaders who are now asking, ‘How could this happen? part of the answer lies in the adoption of IT functionality across industry’s operational environments. Many infrastructure operators have embraced IT innovation to better manage their operations and reduce costs, including remote operating capability so a company production asset can be managed from central location or even remote (anywhere, anytime). Such innovation can bring significant benefits; however, it has often challenged Operations Technology teams, who were focused on physical protection of assets, rather than emerging, external cyber risks. Although many business systems are vigilantly guarded against cyber threats, operational systems haven’t always enjoyed the same security scrutiny. And, with the rise of interconnectivity between a company, its customers, suppliers, and even government partners, cyber threats can arrive from many sources—and spark unexpected consequences, near and far.

More effort, inside the box

DESPITE efforts by leading companies to protect their systems, there is still much work to be done by many

organizations. In my view, many highprofile ransomware attacks could have been avoided or at least reduced. And, many companies are still not meeting a minimum level of cyber security to fend off such attacks. Segmentation of a company’s distributed network would reduce the risks, since firewall separations between key areas would make it easy to shut down and isolate a cyber hack. We must also ask whether companies are investing enough to keep their operational environments up to date and address the costs of replacing legacy systems; whether the avoidance of scheduled maintenance shutdowns that could impact production has led to issues; or if companies should do more to ‘push’ their technology vendors to deliver adequate updates to aging industrial systems. Whatever the answer is to these questions, it seems that many operational systems languish with outdated functionality and lack much-needed security upgrades. Also, an enduring ‘people culture’ within many organizations can stall their cyber security efforts. While operations teams may lack cyber-savvy, the issue may originate at the supervisory and executive board level, where leaders are not familiar with their own operational assets, nor understand their ecosystem dependencies. This culture may extend to front-line employees who aren’t adequately trained on basic “Don’t click the link” cybersafe practices, nor are they encouraged to report operational issues or glitches that create vulnerabilities to future cyber-attacks. The excerpt was taken from KPMG in the Netherlands Partner Ronald Heil’s blog post entitled “Cyber Security Gaps in Infrastructure.” © 2021 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG global organization of independent member-firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. KPMG in the Philippines recently gathered industry tech leaders as well as experts in the fields of audit and assurance, tax, and advisory. The 4-day Innovation Summit spurred exciting conversations and exchange of ideas from attendees across different industries and expertise. Be inspired to innovate and keep track of the latest trends by watching the recorded sessions. As a recognized Center for Excellence for data, analytics, cybersecurity, regulatory-driven transformation, intelligent automation and emerging technologies, KPMG in the Philippines’ Lighthouse Group is here to successfully navigate organizations’ transformation journeys. Visit https://bit.ly/3zawwEJ to know more.

Editor: Dennis D. Estopace | Monday, July 26, 2021

Industry groups hail BIR move to halt export tax

XPORTERS were relieved when the government decided to suspend a recent revenue regulation imposing tax—which is seen as an additional burden to already struggling businesses—on certain transactions.

suppliers. We will await the issuance of the BIR revenue memorandum circular soon,” Philexport Chairman George T. Barcelon added. Philexport had sought the immediate suspension of the RR as this will further impact the exporters’ cash flows while making local raw materials and services more expensive. The export industry stakeholder previously sent letters to BIR and the Department of Finance to convey such concerns. Ortiz-Luis said he also noted the conflict in the provision of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act which grants zero rating on local purchases, and previous issuances. The Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) had also previously appealed the RR as the local players will likely incur revenues losses with its implementation.

Seipi President Danilo C. Lachica, in a recent letter to the Trade department, said they “already received information from some members that volumes from domestic constructive exporters will be transferred to foreign suppliers due to additional cost caused by the 12-percent VAT.” Philippine Economic Zone Authority Director General Charito Plaza, however, earlier said she still wants the BIR to scrap the new tax regulation for exports altogether. She said zero VAT incentive is also being offered to other countries’ economic zones and free port zones, making the local industry competitive. Last week, the Finance department clarified that RR 9-2021 will be repealed and replaced so the exporters will still enjoy the zero VAT perks on local purchases of goods and services. The new policy, aimed to be issued this month, will be parallel to the provision of Create. Tyrone Jasper C. Piad

The Philippine Exporters Confederation Inc. (Philexport) welcomed the government’s move to suspend the implementation of Revenue Regulations (RR) 9-2021, which imposed 12-percent value-added tax (VAT) on exports and sales of services. These items were not taxed previously as stated in Republic Act 10963 or the Tax Reform for Acceleration and Inclusion Law. Philexport President Ser-

gio R. Ortiz-Luis, Jr. said the deferment of the RR issued by the Bureau of Internal Revenue (BIR) is a “very welcome decision after severe cost and delivery pressures from many other export-related issues.” “The deferment of RR 9-2021 with the concurrence of [Finance] Secretary Carlos Dominguez III is a big relief for direct and indirect exporters to continue their normal business operation procuring from local

GSIS rents out housing units with option to buy

Landbank, PNP launch mobile branch in Quezon City

HE Government Service Insurance System (GSIS) said it is now offering its housing units for lease. In a statement the GSIS said that under the scheme, the GSIS will rent out its housing units to interested parties who will be given the priority to purchase it any time during the lease agreement. “Sa ilalim ng programang ito, prioridad ng GSIS ang mga kasalukuyang naninirahan sa residential properties ng GSIS upang magkaroon sila ng pagkakataong maging lehitimo ang pamamalagi doon at tuluyang mabili ang kanilang tinitirhan. Hindi natin hahayaang tuluyan silang mawalan ng tahanang mauuwian lalo na ngayong nasa gitna pa rin tayo ng pandemya,” GSIS President and General Manager Rolando L. Macasaet was quoted in the statement as saying. [Under this program, GSIS prioritizes those currently living in GSIS residential properties so that they have the opportunity to legitimize their stay there and eventually buy their residence. We will not allow them to lose their homes forever, especially now that we are still in the midst of a pandemic.] The program offers a lease agreement that will be valid for one year, renewable at the option of GSIS, the fund manager said. “If the unit is occupied, the occupant will be given the priority to lease with an option to buy the property. If the property is unoccupied, it will be open for rental to anyone who will qualify for the program. To qualify for the program, an interested lessee must be a Filipino citizen who is legally authorized to enter into a lease agreement and financially capable to pay rental obligations.” If lessees will opt to buy the property, they must submit an option-to-buy proposal for approval of GSIS, the fund manager said. The purchase amount is equivalent to the current market value of the property at the time of approval or any offer received for same property, whichever is higher. “Prospective lessees only need to submit a properly accomplished application form and two valid governmentissued identification cards,” Macasaet added.

HE Land Bank of the Philippines (Landbank) announced the inauguration of another of its mobile branch at the PNP Grandstand, Camp BGen. Rafael T. Crame in Quezon City on July 23, in partnership with the Philippine National Police (PNP). The Landbank said in a statement that the mobile branch, which is housed in a six-wheeler truck, “functions as a pop-up branch to service communities across the country with disrupted or limited access to banking services.” “These include areas affected by calamities and other unexpected events,” the bank said. “As part of our efforts to bring more unbanked Filipinos into the formal banking system in support of the National Government’s financial inclusion agenda, the Landbank mobile branch will also be deployed in unbanked and underserved communities,” it added. Landbank said it brought its new mobile branch to the PNP national headquarters for one whole day to cater exclusively to the banking needs of the country’s police officers and

personnel. A total of 10 PNP officers and a hundred PNP recruits opened their own Landbank ATM and payroll accounts, respectively. PNP Chief Police General Guillermo Lorenzo T. Eleazar and Executive Vice President Julio D. Climaco, Jr., head of Landbank’s Branch Banking Sector, led the blessing and inauguration of the Landbank mobile branch. Joining them from the PNP were Police Lieutenant Generals Joselito Manalad V. Cruz, Israel Ephraim T. Dickson, and Dionardo B. Carlos; Police Major General Rodolfo S. Azurin, Jr; and Police Brigadier Generals Jose Melencio C. Nartatez, Jr. and Jason D. Ortizo. Also at hand were officials from Landbank led by Senior Vice President Ramon R. Monteloyola, head of the South National Capital Region Branches Group; Senior Vice President Marilou L. Villafranca, head of the North National Capital Region Branches Group; and, Assistant Vice President Rosemarie J. Romillo, head of the Camp Crame Branch. The Landbank said its mobile branch can facilitate banking services such as account opening and

maintenance, deposit, withdrawal, encashment, debit or credit memo, online collection payment, enrollment in e-banking facilities and ATM services. It is also designed to assist the National Government during retail and emergency disbursements or payouts, including cash subsidies distribution under the programs of the Department of Social Welfare and Development (DSWD) and other government agencies. The Landbank mobile branch unit in Camp Crame, Quezon City, is one of two mobile branches recently rolled-out by Landbank, following the very first launch held in San Fernando City, Pampanga last July 21. The Mobile Branch will be heading south next to Legazpi City, Albay on July 29. At present, Landbank has a total network of 411 branches and 66 branch-lite units, composed of branch-lites, Agri-Hubs, LEAFs, tellering booths and FX booths across all 81 provinces in the country. This is complemented by 55 lending centers in strategic areas nationwide.

Bank of China expands transactions with BancNet

ANK of China Manila (BOC) recently launched its interconnection with BancNet, the largest interbank network in the Philippines. This allows BOC cardholders to now use their BOC debit cards for essential banking transactions in over 20,000 ATMs and 300,000 point-ofsale (POS) terminals of BancNet member banks across the country. “As we continue to propel our digital transformation efforts, we continue to focus on creating a better, more efficient banking experience for our clients,” said Deng Jun, Country Head of Bank of China Manila. “Through BancNet, we are now able to serve our BOC cardholders not only through our Branch’s ATMs, but also via other banks’ ATMs and POS terminals connected with BancNet.” “We welcome Bank of China Manila to our nationwide network. We are happy to be its partner in providing banking convenience to its cardholders 24/7 through our members’ ATMs and POS terminals and look forward to further collaboration with BOC in its digital payments transformation journey,” said Fabian S. Dee, BancNet president. As a BancNet Issuing Member, BOC gives its cardholders the ability to perform the transactions through the ATMs (cash withdrawal, balance inquiry, bills payment and prepaid e-loading) and POS (purchase and balance inquiry) terminals of other BancNet member banks: Beyond nationwide connectivity with BancNet, the BOC is also interconnected with UnionPay network for overseas transactions. This means its cardholders can pay for purchases on POS terminals or perform balance inquiries and withdraw cash at ATMs that accept UnionPay in 180 countries and regions. Currencies

supported include both renminbi (RMB) and Philippine peso (PHP) if both are maintained by the cardholder. Otherwise, the currency default is RMB overseas and PHP in the Philippines.

“Our goal is to increase our reach and better serve our clients. And being a BancNet member allows us to expand the bank’s network coverage while also lowering the costs of transactions,” Deng said.

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Help Your Employees Who Are Anxious

About Returning to the Office

By Amy Gallo

s vaccines roll out across the globe, more and more offices are opening up—or making plans to in the near future. That’s good news for people who are eager to get back to their desks. Amy Gallo But what about people who are anxious or conflicted about returning to in-person work? Maybe they have health issues that would put them at risk, even with broad vaccine adoption. Or they have caretaking responsibilities that prevent them from going in. Perhaps they’ve found that they’re happier and more productive working at home, or they had a long commute they’re content to no longer endure. As a manager how do you help people manage their return-to-work anxiety? Should you be nudging your employees to return, if that’s what your company’s leadership wants? And if they’re worried that their career will be impacted if they need to keep working from home, should you assure them it won’t? This is uncharted territory for all us, especially managers. So I reached out to several experts who study the role of middle managers and compassion at work to ask what they’d advise. They all agree that there are, of course, upsides and downsides for everyone. As Jane Dutton, a professor at the University of Michigan’s Ross School of Business, says, “For some people, the return to routines and seeing colleagues can be very healing.” But others just aren’t ready. As a manager, you may feel stuck. As Jacob Hirsh, an associate professor at University of Toronto, explains, “The challenge of a middle manager is to manage employee concerns about directions from upper management,” so you may not be making the call about

if, when and how often your team members come in, which makes the situation even trickier. It’ll be far easier to navigate all of this and help those who are worried if you know how people on your team feel. You can’t assume that your employees will tell you if they’re feeling anxious about reentry, warns Linda Hill, a professor at Harvard Business School. “People are fearful of looking weak or not living up to expectations,” she says. Therefore, you need to make it safe for people to speak up. Hill suggests using anonymous surveys to ask how employees view the return. Then use the insights you glean to address people’s concerns. For example, if several people mentioned health considerations in your surveys, you can make sure that the team knows precisely what precautions the company is taking to keep staff safe or lobby senior leaders to put more preparations in place. The point, Dutton says, is to make people feel heard. When people share their concerns—either openly or anonymously—make sure you allow for people to have mixed and complex feelings. It’s tempting to be positive about the upcoming changes as a way to assuage worries, but you risk making people feel dismissed. Brianna Caza, an associate professor University of North Carolina at Greensboro, studies emotional ambivalence and how managers can use it to help people build resilience. Managers often feel pressure to respond to negative emotions encouraging people

who are struggling to look on the bright side. But Caza’s research with Lehigh University’s Naomi Rothman and UNC’s Shimul Melwani has shown that a better path might be for managers to lean into the emotional ambivalence, making it OK to have mixed feelings. “Leaders who model ambivalence can create a culture where people adapt and pivot more easily,” Caza told me. If at all possible, at least at the beginning of your office’s reopening, give people some options about when and how often they come in. As Dutton says, “The message should be one of flexibility, flexibility, flexibility.” A recent survey found that 58% of people say they would “absolutely look for a new job if they weren’t allowed to continue working remotely in their current position.” Of the more than 2,000 respondents, 65% wanted to work remotely full

time in a post-pandemic world, and another 33% prefer a hybrid work arrangement. Mandates may have the opposite effect than intended. “You’re not going to get what you want if you’re basically roping people into the office,” says Hirsh. “A rush to establish the old normal doesn’t make sense and is going to cause friction.” When people have to do something they feel anxious about, it can help to know there’s a good reason behind it. If the senior leaders at your company haven’t clearly articulated why it’s important people come back to the office, you may need to fill that gap. “Communicate the vision from upper management so employees see it as reasonable and can get out on board. If they don’t buy in, it’s going to feel like coercion,” says Hirsh. You also want to make sure that your team knows this wasn’t a de-

cision haphazardly made. “They need to see that there’s a competent and well-thought-out plan,” Hirsh says. And that plan should consider their needs. To avoid overwhelming employees, you could also consider running pilot programs or letting people experiment individually within their level of comfort. As Hirsh says, “Baby steps are a good idea,” especially for those who have concerns. You might suggest they try going in one day a week for several weeks and then check in to see how it went. Whenever possible, give the accommodations people need to do their best work. No matter what messages you have to deliver, what accommodations you can and can’t make, and what policies you may have to enforce, do it all with compassion. It’s often an antidote to anxiety. “Find small ways to be present for your people,” Dutton says. Continue to

ask about how they’re doing and what else they have going on besides work. Talk about what you’re going through to make it OK for them to do the same. One of the silver linings of the pandemic is that it has become more acceptable for people to be more open about personal struggles at work. Just because many of us are going back to the office it shouldn’t mean that dialogue and compassion should stop. As a manager, it’s important to remember that you may not know what your employees have been through or continue to go through. As a friend recently told me, “No vaccine is going to take away the grief and trauma that we’ve all experienced.” Keep that in mind when helping your employees make their way back into the office.

4. Even in hybrid models, you still have to ensure your processes are crisis-proof

every detail for every potential event, they can develop robust internal processes that are acid tested for crises. For example, many crises, such as contagious diseases or natural disasters that strike city centers, can be addressed with a move toward a distributed workforce. Others, such as cyberattacks, internet outages and power grid failures, are best handled by improving the quality of backup facilities in the office. The hybrid model makes it more likely that organizations will be able to avoid process bottlenecks and challenges that are specific to a crisis because they will know how to operate in multiple contexts. The hybrid work model provides organizations a powerful tool for organizing work. Yet, as these four imperatives above attest, leaders need to appreciate the organizational tensions that lurk beneath the surface and be careful not to let them become part of their new models.

Amy Gallo is a contributing editor at Harvard Business Review.

4 imperatives for managing in a hybrid world By Kalle Heikkinen, William Kerr, Mika Malin & Panu Routila

ore than a year after the pandemic’s global debut, physic a l i nterac t ions are slowly resuming in workplaces around the world. Even so, remote and virtual work will continue for many. Now is a good time for executives to start planning what their hybrid organizations will look like. Our research team interviewed and surveyed 38 top leaders at five global businesses in multiple Nordic countries to find out what their biggest challenges in managing in the hybrid mode are. We summarized our insights into four key imperatives that leaders need to observe to be effective in a hybrid world:

1. The virtual world does not treat roles and tasks equally

The executives we interviewed say that hybrid settings bring with them several new types of tensions between different levels of the organization, and even among executives themselves. The most surprising one is emerging within upper management itself. CEOs often say that they are quite satisfied with how effective their teams have been in a virtual format. But vice presidents and country leads just below the global executive team

are more skeptical. Some executives and middle managers we interviewed also said they were frustrated with their own lack of virtual fluency. This is worrisome, as middle managers are usually the ones who have to face and manage new operational complexities firsthand. CEOs need to be cautious about inferring that their own virtual experiences are representative of the whole company and figure out what they can do to support others. It might mean increasing managerial training and mentoring or making changes in top and middle management. Another tension we uncovered concerns the access that employees have to technology. The quality of equipment, screen size and web connections matter greatly when trying to make an impression virtually. During the pandemic, many companies deployed top-notch digital equipment to settings and roles where it delivered obvious returns, such as teams dealing with customers or those engaging in complex strategic and innovative work where collaboration is key. While the equipment can deliver a great return on investment, however, it is not equally available to everyone. Leaders need to be cautious not to make poor talent judgments and decisions based upon the speed of

people's internet or the quality of their camera.

2. Nuances matter in people management

Many leaders we interviewed highlighted a “hybrid paradox”: While in-person connection is becoming less frequent, people skills are becoming more important than ever. The best leaders listen and show empathy, allocate more leadership time to team management and coaching, enable rather than control, and invest in building a culture that reaches out of the traditional office and into people’s homes. This is easier said than done. Executives lamented that it’s challenging to feel the whole team’s collective spirit and resolve. One simply cannot get a group reaction clear in a virtual meeting, where each face is just a thumbnail. They must also increasingly discern what motivates or concerns individuals without the benefit of casual observation in the cafeteria or at corporate retreat. We all smile at the camera once our video is turned on for something like a virtual happy hour, so it will take more commitment and skills for leaders to understand employees. In the hybrid world, deep observational skills will become an essential leadership skill. One company went so far as

to hire a psychologist to observe and help teams. A s c o m mu n i c at io n mo d e s change, many executives have noted that slack time is becoming vital for innovation and renewal. But these days employees' calendars are full of meetings, largely because follow-ups that used to happen informally now must be formally scheduled. To address this, leaders will need to learn to create room for group and one-on-one discussions as well as focused work and rest.

3. Strong central guidance is a must

Throughout the pandemic, functional and product silos have been giving way to increasingly connected operations. Many executives said that in a hybrid setting, their organizations have been moving further toward a flatter hierarchy. Executives noted that collaboration across business units has helped foster innovation; some even said that best-practice sharing among industry players has increased. All this sounds good and democratic. But companies need to ensure that this transformation produces higher performance, not chaos. Fostering local responsiveness and spirit of initiative only works if organizations have a clear vision and effective performancemeasurement systems.

The hybrid model promises to be a key tool for future crisis response. Management teams will continue to be pressed by directors and investors to be resilient, and there will certainly be more crises to come. While the companies we interviewed were all established and of significant size, we observed differences even within this group in their degree of preparedness. The pandemic showed that investments in robust processes pays dividends and that these should be designed in advance. Ultimately, the downside of being tethered to traditional ways of work were severe in the crisis. Some leaders lamented that the Covid-19 crisis brought them great strategic opportunities, but that they struggled to seize the moment because “keeping the lights on” internally became overwhelming. They lacked the right processes to handle the moment, and they underestimated the emotional and physical toll they would personally experience. This left these executives with too little bandwidth for making sense of where markets would trend and how the organization should respond. While executives cannot prepare

Kalle Heikkinen is founder and chairman of Boston iLab LLC. William Kerr is a professor at Harvard Business school. Mika Malin is co-founder and partner of management consulting firm Helsinki Boston Group. Panu Routila is a board professional and chairman of the board at Oriola and Patria.

Style

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Editor: Gerard S. Ramos

• Monday, July 26, 2021

J’s Diamond opens flagship store in Trinoma A gift of love, a timeless gleam, a stunning jewelry that is worth giving or keeping—J’s Diamond fine jewelry is more than a piece of accessory. It represents a memory captured in a moment of extreme bliss. It brings you back to the moment with the one you love the most. To immortalize once more the moment of love and bliss, J’s Diamond has opened its newest flagship store at the ground level of Ayala Malls TriNoma on July 10. J’s Diamond showcases in its fourth branch a wide array of 18K gold engagement rings, wedding rings, earrings, bracelets, necklaces, and GIA diamonds that exude elegance and style. Its new boutique exhibits a classy contemporary vibe, designed to represent the extraordinary craftsmanship of J’s Diamond, truly a world class on its own. J’s Diamond is a Hong Kong-based company founded in 1998 and extended its business in the Philippines in 2012. It is always inspired to create stunning pieces that reflect the sophistication, glamor and elegance of the wearer. For J’s Diamond, each of its creations is more than a fashion statement, more than a gift, more than art; it commemorates treasured moments and mirrors the brilliance and beauty of love. It believes that every jewelry is crafted to achieve its perfection, attention to details, and new trends attuned to global standards. Its mission is to uphold the competitive edge in the design aspects and product quality, creating beautifully crafted jewelry pieces that are worth owning and wearing. Its vision is to be one of the leaders in excellence in jewelry industry focusing on client satisfaction and dedication. No doubt to the delight of men and women with eye for a dazzling token of love and affection, J’s Diamond is holding an “across all stores” promo until July 31 of 30-percent off on diamond accessories and 20-percent off on rings. Present this feature to any J’s Diamond branch to avail of the promo. J’s Diamond branches can be found at Lucky Chinatown Mall, SM City Dasmariñas, Ayala Malls Manila Bay, and Ayala Malls TriNoma, open daily from 10 am to 7:30 pm. More information can be found at www.jsdiamond.com.ph.

THE Shiseido Ultimune Power Infusing Concentrate (left) and the Estée Lauder Advanced Night Repair Synchronized MultiRecovery Complex

A thorough review of 2 popular skin-care products

O THE new J’s Diamond flagship store at the ground level of Ayala Malls TriNoma.

J’s Diamond is a gift of love with a timeless gleam.

NE of the challenges in writing about beauty is describing products and their effects. How does one go beyond saying “it’s so nice” and “it applies so smoothly”? I saw a TikTok video which said to avoid words and phrases like “best,” “Holy Grail,” “good” and “nice” when describing products. And I agree with them. These are subjective words and not actual descriptions. So today’s column is about properly describing two products we talk about often. They’re two favorites we feel we haven’t described properly and we’re always asked what they actually do. The first is Estée Lauder Advanced Night Repair Synchronized Multi-Recovery Complex, known in the skin-care world as ANR. The product comes in a gradient brown bottle, which is now squared at the edges after ANR’s reformulation last year. It’s dispensed via a dropper. The brand’s social-media hashtag is #1ANRDropADay. Truthfully, one drop will do for those in the 20s and early 30s. Those in their late 30s and beyond would need more than a drop. The product itself looks milky, like a Japanese essence, except that it is a serum. Advanced Night Repair is meant to be used after cleansing and application of Estée Lauder Micro Essence, a lotion. As expected, a look at the ANR ingredient list shows that it’s made from humectants, moisturizers

and water (the purified type and not what comes out of the tap, we assume). One of its main ingredients is Bifida Ferment Lysate, a type of probiotic. A study showed that Bifida Ferment Lysate (or Bifidobacterium longum lysate) helped prevent skin damage from exposure to UV light, hydrated the skin and strengthened the skin’s immune system. The ingredient also helped soothe inflammation and reduced dry skin. The study (bit.ly/3x236al), which was conducted in 2010, also found that application of a cream with Bifidobacterium longum lysate led to increased skin resistance against physical and chemical aggression. Bifida Ferment Lysate is also present in another famous serum but somehow, this product doesn’t work, as well as ANR for us. Estée Lauder ANR also contains sodium hyaluronate, a form of hyaluronic acid. It also has baobab oil, which has protecting, nourishing, moisturising, soothing and regenerating properties. Another ingredient of the serum is tripeptide-32, which, when applied to the skin at bedtime, is believed to activate the clock gene PER-1, which regulates the circadian rhythm, and this will activate the keratinocyte genes which are either less active or inactive in the normal sleep cycle. Another property of tripeptide-32 is that it binds moisture to the skin. Estée Lauder has a method of applying ANR, which is to warm it first with your fingertips and applying with a heart shape starting on either side of your nose. So what does ANR do? It hydrates the skin, gets rid of fine lines and other signs of skin aging, and it brightens the skin. You need to be using this for a month at least to see visible effects. Best used at night, ANR can be applied twice a day if you have really dry skin. The second product we will attempt to describe properly is Shiseido Ultimune. Unlike Estée Lauder ANR, which is a serum, Ultimune is a pre-serum. Shiseido Ultimune, which comes in a luxe red bottle, has been reformulated recently. Its ingredients

include water, denatured alcohol, glycerin and dimethicone. There is some debate about the use of denatured alcohol but we will get to that later. To explain the reformulation of Ultimune, Shiseido said, “In light of the newly heightened importance of bare skin, Shiseido has launched Ultimune’s renewal inspired by The Lifeblood. New Ultimune with its unique ImuGenerationRED Technology defends the beauty of skin, now and into the future. The result is smoother, more resilient skin with its radiance recharged, for a healthy vibrant look. The new formulation retains the rich-yet-dewy texture that absorbs quickly into skin, and the original green floral fragrance that is loved by so many.” Now let’s get back to the alcohol debate. Many skin experts claim that denatured alcohol in skincare products is bad for the skin because it can compromise the skin barrier. I have been using Shiseido Ultimune Power Infusing Concentrate for about two years now, as a pre-serum before Estée Lauder ANR and I’ve had no problems with it. I have oily-combination acne-prone skin, and it is my guess that the alcohol in Shiseido Ultimune works as an astringent and antimicrobial agent. My skin has never felt dry or dehydrated after using Shiseido Ultimune and I’ve asked my dermatologist about it. She said as long as my skin does not feel tight or dry after using a certain product, I can continue using it even if it contains alcohol. The other ingredients in Shiseido Ultimune are Reishi Mushroom, an antioxidant known to hydrate; Iris Root, which visibly reduces ageing and helps reduce internal damage that could lead to fine lines and wrinkles. Iris Root also hydrates the skin. I use two pumps Shiseido Ultimune (the texture is not watery but the look is milky) and apply in upward motion on my face, starting on the cheeks. Ultimune is very moisturizing on me and actually leaves my skin slightly dewy. When I first started using this, the word that stood out was “immunity.” Prevention is always better than a cure. n

Sports Illustrated’s swimsuit issue, along with Fil-Am trans model-actress Leyna Bloom and rapper Megan Thee Stallion, the tennis superstar lit the cauldron to signal the opening of the Games. She is the first Asian, male or female, to achieve the world No. 1 ranking, and a gold medal will seal her legendary status. n PITA TAUFATOFUA (Tonga). The taekwondo fighter (and hottest flag-bearer) has a goal: to build free exercise facilities for the kids of Tonga and the Pacific. Famously topless at the opening, his look carries meaning. The skirt: “For the rights and dignity of all—we may look and think differently, but we are all a part of the same cloth. There is more that unites us than divides us.” The skirt ornaments: “For the oceans—may we look after you the way you look after us.” The necklace: “For those we lost—you will always be a pearl in the safety of our hearts.” n ALEX ABRINES (Spain). Twelve countries at the Games have current and former NBA talents on their national rosters. Spain, the 2019 world champion, has Marc Gasol (Lakers) and Pau Gasol (2001-2019), and Alex, who played in the NBA in 2016-2019. n NATALIYA GONCHAROVA (ROC/Russia). Because of doping issues, Russia is branded as Russian Olympic Committee with no flag and no anthem at the Games. Nataliya, born in Ukraine but playing for Russia, is a standout in a sport that boasts towering women. At 6 feet 5 inches, you can’t miss her powerful presence in the court.

n EBONY MORRISON (Liberia). My all-time favorite Olympic Kit was designed by Japanese designer Issey Miyake for Team Lithuania at the 1992 Barcelona Games. A far creative cry from this year’s kits by Ralph Lauren for USA, Armani for Italy, Ben Sherman for UK and Lacoste for France. Liberia, however, was a veritable runway for Telfar by Liberian-American Telfar Clemens. The New York-based brand showed its signature unisex one-shouldered tanks, shirtdresses and tracksuits with the Liberian star and in bold graphics. Ebony, a 100m hurdler, serves Black Girl Magic in her athletic gear. (Team Philippines was by House of Laurel.) n CAELEB DRESSEL (USA). Sports Illustrated hails him as “The Swimming Machine” who, as the “heir to Michael Phelps, runs like a wideout and jumps like an NBA forward, and in the water he combines smooth technique with raw power.” n ALICA SCHMIDT (Germany). When the trackand-field star was named the “Sexiest Athlete in the World” by Australian magazine Busted Coverage, she reportedly said: “I do not know why I got this title. Sport comes clearly first.” Being “great,” the Puma spokesmodel said, means “being kind and being humble.” And she offers this nugget: “Cherish other people’s success instead of being jealous of what they have accomplished. Your values, beliefs and expectations form your attitude. Bring on everything ahead and set your standards high.”

Tokyo 2020 Olympic cuties

THAT Filipino gymnast Carlos Yulo, the reigning world champion, failed to advance to the floor exercise finals doesn’t make sense in my fantasy. I was so confident that at Tokyo 2020, he was on his way to joining the gymnastics ranks of Vitaly Scherbo, Alexei Nemov and Sawao Kato. Late Saturday, our gold-medal hopes were dashed when Carlos also didn’t qualify in the all-around. All is not lost, though, as he clinched a spot in the vault finals. Epke Zonderland (Netherlands), the 2012 high bar champion, and Japan’s Kōhei Uchimura, considered to be the greatest male gymnast of all time, also stumbled in their bids. Maybe Tokyo’s changing climate and rising temperatures (and Covid scare) impacted Carlos’ health and performance? The Games of the XXXII Olympiad is said to be one of the hottest in modern

times. Or, maybe, he was distracted by all the hotness emanating from the physical perfection of the world’s best athletes? Three Latin words make up the Olympic motto: citius, altius, fortius—or faster, higher, stronger. What’s Latin for sexier? There are 11,656 athletes from 206 National Olympic Committees at Tokyo 2020, and these deserve to be on Mount Olympus: n MEGAN RAPINOE (USA). According to Outsports, at least 163 out LGBTQ athletes are competing at the Tokyo Summer Olympics, by far a record, more than all the previous Summer Olympics combined. The list includes our own skateboarder Margielyn Didal and the first trans, weightlifter Laurel Hubbard of New Zealand. Soccer has the most number at 40, and the most famous being Megan, the cover girl for June/July of Harper’s Bazaar US and a Victoria’s Secret spokesmodel. (See also Finnish flagbearer, swimmer Ari-Pekka Liukkonen, and British diver Tom Daley.) n RICHARLISON (Brazil). He plays as a forward for English Premier League club Everton and the Brazilian national team that won the 2019 Copa América. Latin America has the hottest and freshest football talents: Brazil has Douglas Luiz, Paulinho and Daniel Alves, Mexico has Sebastian Cordova, Honduras has Denil Maldonado and Argentina has Adolfo Gaich. n NAOMI OSAKA (Japan). The newest cover girl of

B6 Monday, July 26, 2021

AVID sales up by 55% in the first half of 2021

Honda PH makes an impact in Filipino communities throughout the pandemic

HE country has had its fair share of disasters over the last two years. Other than a devastating global health crisis, the Philippines faced Typhoons Ulysses and Rolly, the eruption of Taal Volcano last January 2020, and an economic slowdown. Regardless of the struggles, the Filipino’s spirit of Bayanihan prevails as the challenges also brought about innovations. Motorcycle couriers came together, helping communities bring essentials to people in need. Motorcycles have also become an essential tool to ensuring the resiliency of Filipinos amid these difficult times.

Protecting Lives on Two Wheels

THE Philippines Red Cross (PRC) received 104 red motorcycle units – 52 units of the TMX125 Alpha and 52 units of the Wave 110 Alpha – with insulated top boxes to PRC last May 2020, from Honda Philippines Inc. (HPI), the No.1 motorcycle manufacturer in the country. The motorcycles were used by PRC volunteers and staff members in its 104 Chapters nationwide, and its endowment also provided the organization with a fast and highquality mode of transportation. With the motorcycle company's extraordinary efforts, PRC awarded HPI with the Outstanding Humanitarian Award for Corporate Social Responsibilities (CSR) on December 2020, which HPI President Susumu Mitsuishi officially received last December 15, 2020. The contribution to PRC was made possible through their CSR arm, Honda Foundation Inc. (HFI). “The Humanitarian Award only shows that Honda is one with the Philippine Red Cross in providing a helping hand to those in need. Amid these trying times, motorcycles have

HPI President Susumu Mitsuishi received on December 15, 2020, the PRC recognition as Outstanding Humanitarian Award for Corporate Social Responsibilities. shown their power in helping those in need and organizations in all its much-needed humanitarian efforts,” Mitsuishi said.

Rebuilding a Stronger Foundation

THE motorcycle manufacturer also donated construction supplies to the victims of Typhoons Ulysses and Rolly in San Andres in Catanduanes. The supplies were used to rebuild their homes after it was destroyed by the typhoons. With the assistance of the Catanduanes Masonic Lodge No. 291 and the local government unit, HPI reached out to about 100 families from Barangay Alibuag, Belmonte, Bislig, Bon'ot, Cabcab, Cabungahan, Catagbacan, Lictin, Lubas, Manambrag, Puting Baybay, Rizal, Salvacion, Tibang, and Timbaan. Each family received galvanized steel sheets for their roofing needs, sets of marine-grade plywood, Coco lumber, and

common wire and umbrella nails. “As much as possible, Honda tries to start initiatives to help and protect the lives of Filipinos, especially amid crises like the Taal Volcano eruption, the current COVID-19 pandemic, and even the series of typhoons. In 67 years of its trustworthy services, Honda Philippines, Incorporated will continue to collaborate with organizations that will greatly benefit the Filipino community,” Mitsuishi said. Honda’s efforts are in line with their ONE DREAM campaign, which aims to make Honda motorcycles an essential tool in saving lives and helping institutions like the PRC. For more details about Honda products and promos, visit www. hondaph.com and follow Facebook, Honda Philippines, Inc., and Instagram, @hondaph_mc. Contact landline number, (02)-8581-6700 to 6799, and mobile number, 0917-884-6632 for more details.

PCSD protects the province of Palawan, the country’s ‘last biodiversity frontier’

HEN Republic Act 7611 or the Strategic Environment Plan (SEP) for Palawan became a law, the province acquired a strong foundation for clear policies on the protection of the environment – Palawan being touted as the country’s “last biodiversity frontier”. SEP then created the Palawan Council for Sustainable Development (PCSD) giving the local government of Palawan direct jurisdiction over its natural resources. The agency is seen driving the efforts to uphold and implement sustainable development in Palawan, taking advantage of newly-available scientific data, while establishing a system that controls, protects and develops Palawan’s natural resources. Two contentious national issues push the role of PCSD under the microscope – one, that some of the province’s fishing grounds, particularly in Kalayan, form part of the West Philippine Sea; PCSD is highly involved in addressing the security

and development concerns on the West Philippine Sea as it believes that the matters relating to the WPS are crucial to the well-being of Palawan, as well as national security and development. The second issue that PCSD has to address arise from the new policy pronouncements on mining agreements. According to Atty. Teodoro Jose Matta, Executive Director of PCSD, “on Palawan’s shoulders lie that task of showing how to strike a balance between the desired social and economic growth and the preservation of the country’s natural resources.” Atty. Matta explains that PCSD develops methods in order to achieve this “balance”. One method is the Environmentally Critical Areas Network (ECAN), which provides a graded system of protection and development control over the terrestrial, coastal and marine components of the province.

URSULA Island, a wildlife and gaming sanctuary off the coast of Batarza in Southern Palawan, is one of several natural reserves in the province that the Palaweños are proud of.

Recently, the ECAN maps of Palawan’s municipalities of Quezon and Bataraza, known to be economically dependent on mining, were submitted for amendment. The requested updates in the zoning classifications of the maps are seen as can potentially allow the expansion of mining activities in the areas. Upon scrutiny of all factors presented, the updates to ECAN map will be approved by the PCSD if the council deems them consistent with what are prescribed in SEP law and other current guidelines. While some dissent against mining is expected, the fact that environmentally sound mining practices (or responsible mining) exist should also be considered. According to Sec. Harry Roque, Presidential Spokesperson, a recent visitor to Rio Tuba Mining in Palawan, “in a period of economic struggle, responsible mining should be treated as a promising economic contributor that can bring development especially to the local communities where economic stimulus is needed the most.” Roque says, that when done responsibly and within the bounds of existing laws, mining is socially and economically beneficial both to the local and national economy. Based on data from the Philippine Statistics Authority (PSA), Philippines is one of the world's richly-endowed countries in mineral resources. In fact, the national government recently acknowledged the significant economic benefits of the mining industry when it issued Executive Order No.130 on April 14, 2021, effectively lifting the moratorium on mineral agreements.

HE Association of Vehicle Importers and Distributors, Inc. (AVID) tallied 30,153 units sold for the first half of 2021 or a 55% increase from 19,509 units sold in the same period last year. In June alone, AVID sales bested its 2020 sales by 33% with 4,936 units sold this year compared to last year’s 3,698 units. June sales also improved over those of May, though by a hairline, from 4871 to 4,936 units sold. Said AVID President Ma. Fe PerezAgudo, “It has been an uphill struggle for the automotive industry, more so among importers, but the recent numbers are encouraging. As our nation progresses towards achieving herd immunity, the automotive industry has proven resilient and poised to emerge stronger than ever. With better prospects ahead, we will continue to give our best to ensure the complete recovery of the industry. This much, we owe the Filipino people.” The Commercial Vehicles (CV) segment continues to be AVID’s pillar of growth with total sales surging by 456% (YTD). Hyundai steadily drives the segment as it sustains its support for the national Public Utility Vehicle Modernization Program (PUVMP). The leading Korean brand tallied 759 units sold (YTD), far from the 137 units sold in the same period in 2020, and maintaining its prime

FE Agudo spot as No. 1 in the bus segment and No. 4 in the trucks segment. Light Commercial Vehicles (LCV) sales banner AVID’s performance accounting for 72% of its total output. LCV sales grew by an impressive 64% from 13,244 units in the first half of 2020 to 21,684 units sold in the same period this year. Ford maintains its lead in this segment with 9,096 LCV units sold, followed by Suzuki with 6,038 units, and Hyundai with 2,837 units sold. The Passenger Cars (PC) segment also improved by 26% from 6,128 units in 2020 to 7,707 units in 2021. Year-on-year, the PC segment grew by 13% in June with 1,350 units sold this year against 1,200 units last year. Suzuki keeps its top spot with 3,949 units sold, followed by Hyundai with 2,567 units sold.

FENIX innovative materials for interior design open new doors to the Philippines interiors market

OLLOWING a significant and wellestablished presence of FENIX® in the Philippines market for interiors, Formica Philippines strengthens their positioning by becoming the exclusive distributor of these innovative materials. The new relationship between Arpa Industriale and Formica Group dates back to June 2019 with the acquisition of Formica Group by Broadview Holding B.V.. Since then, Formica Group has joined Arpa Industriale S.p.A., Trespa International B.V. and Westag & Getalit AG as part of Broadview’s family of businesses in the field of material technology. The main focus, which connotes the sister companies, is on coordinated strategy and synergies, with the main goal to offer customers world-class surface materials. As a main result of this new partnership, Formica Asia expands its product portfolio in Philippines to include the award-winning FENIX range through its distribution network. In the Philippines market, Formica Philippines is the exclusive distributor of FENIX starting April 1, 2021.

FENIX are the innovative materials created for interior design by Arpa Industriale in 2013. They arise from the Italian design tradition, reflected in the project stylistic choices: from the colours selection to the overall aesthetic result of the interiors applications. Applying proprietary technologies, the external surface of FENIX is characterised by the use of next generation acrylic resins, hardened and fixed through an Electronic Beam Curing process. With low light reflectivity, the FENIX surface is extremely opaque, soft touch and antifingerprint. Thermal healing of superficial micro-scratches is also possible. They are suitable for both vertical and horizontal applications in the following sectors: kitchens, bathrooms, design furniture, retail, offices, and contract. The smart surface of FENIX with its innovative features made with proprietary technology has struck the world of interiors; its more natural core, thanks to the use of lignin in the formulation of thermosetting resins, represents not only a more sustainable choice, but at the same time a significant technical innovation. With the new distribution partnership in Philippines with its sister company Formica Asia, a new core value is likewise highlighted: the sharing of a common vision to support a mutual profitable long-term growth and, above all, to offer Philippines designers and customers innovative surface solutions for new neverending design stories.

GBP DONATES HANDWASHING STATIONS IN TOLEDO CITY. As part of Global Business Power Corporation’s (GBP) initiatives in boosting the pandemic response of its surrounding communities, the leading independent power producer donated handwashing stations for the benefit of various barangays in Toledo City, Cebu. Led by the efforts of its Cebu subsidiaries, Cebu Energy Development Corporation (CEDC) and Toledo Power Co. (TPC), GBP has turned over double handwashing stations to the barangays of Luray II, Poblacion, Daanlungsod, Sangi, Tubod,Ilihan, and Canlumampao early this year. Four more handwashing stations were distributed to barangays Cambang-ug and Dumlog, the Toledo City General Hospital and City Health Office, PNP Toledo, and to the local public market and terminal. The handwashing stations are strategically placed in areas with high foot traffic, where people have a higher risk of contracting the COVID-19 virus. This donation is part of its Social Development Program (SDP), which began in 2014 as simple yet highimpact infrastructure projects that are tailored to address the unique needs of its communities. As a member of the One Meralco Group, GBP unites in powering the good life of the Filipino by partnering with the government in its COVID-19 response. In photo, GBP First Vice President for Cebu Operations Engr. Leah G. Diaz (left) and Barangay Captain Dimpna D. Gabuya try out the handwashing station in Barangay Ilihan.

Marketing BusinessMirror

www.businessmirror.com.ph

Monday, July 26, 2021 B7

The coronavirus chronicles:

Books that heal R

By Millie F. Dizon

case that we’d be happier, more socially connected, and more satisfied with our work if we valued our time more, valued wealth less, and kept our need for free time in mind when making everyday decisions about our lives,” Greater Good says of this book.

7. Together by Vivek Murthy

Former surgeon general Murthy believes that even before the pandemic, America was in the midst of a loneliness epidemic. With that, he offers advice on how we can overcome what he calls “this destructive scourge” to our mental and physical health.

8. Transcend by Scott Barry Kaufman

WWW.FREEPIK.COM

PR Matters

EADING can be healing, and is a good place to start recovering after a year of uncertainty, struggle, and loneliness. Every year, the UC Berkeley’s Greater Good Science Center comes out with its list of annual feel good titles. These, says Jessica Stillman in an Inc.com article 8 Books to Read for a Kinder, Happier 2021, will not “only improve your individual life, but help us all start thinking through how we can heal our society too.” Stillman selected eight books from those recommended by a research center, “if you’re searching for reasons to be hopeful about our collective future.” Written by journalists, historians, psychologists, and even a former surgeon general, these show us how friendships, hope, kindness, and valuing time can make a difference.

1. Friendship by Lydia Denworth

Friendships have sustained many of us during the pandemic. And it’s not just about warm, fuzzy feelings. In her new book, Denworth, a journalist, says that “a boatload of science shows friendship offers a host of surprising mental and physical benefits.” “ T he science of friendship gives you permission to hang out with your friends and call it healthy,” she adds. “You’re not being indulgent.”

2. Humankind: A Hopeful History by Rutger Bregman

To get a taste of what you can find in this book by Bregman, a historian, Stillman suggests that we check out another of his heartwarming articles, The Real Lord of the Flies. This, she says, makes us feel a little more hopeful afterwards.

n Brand & Business: Universal Robina Corporation helps farmers overcome pandemic challenges through potato farming

M A NIL A , PHILIPPINES — “Talagang natulungan ‘yung mga farmers nitong pandemic dahil sa pagtatanim namin ng patatas [Potato farming has really helped farmers during the pandemic],” said Ardan Copas, a farmer from Benguet. Arden is a member of the United Potato Cooperative, one of the associations of farmers supported by Universal Robina Corp.’s (URC) Sustainable Potato Program. First initiated in 2018 to complement the Department of Agriculture’s (DA) High Value Crops Development Program (HVCDP), URC’s Sustainable Potato Program provides farmers access to quality potato seeds, training, research, and development, thereby getting its captive markets. Through this initiative, Ardan, along with several other farmers, has seen plentiful harvests over the past three years. Program statistics show that farmers were able to harvest 1,258 MT of potatoes in 2020. Additional data provided

by the DA Region XI HVCDP office reveals how farmers today can harvest 10 to 15 kilos compared to 3 kilos of potatoes per 1 kilo of seeds in the past. URC’s collaboration with Prince Edwards Island (PEI) Potato Board led to a five-day training session in Canada where beneficiaries were able to hone knowledge on seeding and planting, soil management, proper storage and other key practices for more effective farming techniques. More impor tant ly, potato farming has proven beneficial to the livelihood of both the farmers and their communities, especially during this time.

Positive impact on farming communities

Last year, URC was able to donate 135 metric tons (MT) of Granola Elite 3 table potato seeds imported from Canada to over 1,000 farmerbeneficiaries in Bukidnon, Davao Del Sur, and the Cordillera Administrative Region (CAR). “’Yung binigay na seeds, talagang magaganda [at] nakakatulong sa amin. Dati, mababa ‘yung yield namin. Ngayon maganda na at talagang kumita [ang] farmers namin dahil sa price namin [na P30 to P35 per kilo]. Ngayong pandemic, nakapaglabas kami ng mahigit isang milyong kilo ng patatas dahil sa tulong ng programang ito [The seeds we received were really good and have helped us a lot. Before, our yield was lower, but now, it’s been abundant and our farmers have

Now imagine, “what a whole book on the science of the positive side of human nature could do for you?” Hope, indeed, floats and uplifts.

3. Perception by Dennis Proffitt and Drake Baer

This new book explains the science of a branch of psychology ca l led “embod ied cog nit ion,” which believes that we just don’t think with our brains, but with our bodies, too. With this, “our physical shape, capabilities, and current state of being profoundly shape how we perceive the world.” “If we are going to have a better understanding of ourselves

earned more because of our P30 to P35 per kilo selling price. During the pandemic, we were able to release over 1 million kilos of potatoes thanks to this program],” Ardan related. Gabriel Bandao, a farmer in Bukidnon and head of the Imbayao Community Participatory Action Research A ssociation (ICPARA), said, “100 percent ng farmers dito sa Imbayao [ang] natulungan nito. Kaya lubos ang pasasalamat namin sa URC. Dahil sa kanila, umangat yung pagtatanim namin ng patatas, pati na rin ang aming kabuhayan [The program has helped 100 percent of our farmers here in Imbayao. We’re grateful to URC because they helped us improve our potato farming and our livelihood].” During last year’s harvest, the farmers from Bukidnon were able to sell almost 10,000 kilos of potatoes at an average price of P65 to 70 per kilo. These opportunities have encouraged others to take up farming, especially during the onset of the pandemic, when a lot of people lost their jobs. In fact, many of the recent potato farmer joiners, under the Sustainable Potato Program, actually come from urban areas including Metro Manila and Davao City. “’Yung ibang farmers, nagtatrabaho dati sa service sector ng city. Ngunit ngayong pandemic, umuwi at umakyat muli sila sa bukid para makapagtanim sila ng patatas dahil nakita nila na talagang umunlad ang kabuhayan ng kanilang mga kapitba-

and our fellow human beings, we need to appreciate the startling individuality of everyone’s experience.”

4. The Kindness of Strangers by Michael McCullough

This fascinating and uplifting book traces the development of human altruism from a psychologist’s point of view. For those that believe in Darwin’s theory, it asks how kindness and morality in humans evolved out of selfinterested apes.

5. The Upswing by Robert Putnam and Shaylyn Romney Garrett

This book by a political scientist

hay at communities [Some farmers used to work in the city’s service sector. But during the pandemic, they went back home to the province so they could plant potatoes because they saw how their neighbors’ lives and communities improved],” Melani Provido, from the Department of Agriculture (DA), shared. Melani is a DA representative of Alegre Vegetables and Arabica Growers Association, Mt. Apo Potato Farmers Association (in Balutakay, Davao Del Sur) and Highlight Farmers Agriculture Cooperation (in Kapatagan, Lanao Del Norte). Several sacks of potato seeds were unloaded from a truck and distributed to farmers. Also contributing to the continuous bountiful harvests is the sustainability aspect of the program. Ardan explains that farmers reserve 30 percent of their harvest and use these as seedlings. This lets them prepare for the next farming season without having to wait for the next batch of seeds, and allows them a guaranteed yield, year in, year out. “The main objective of the program is to provide sustainable seedlings, and offer access to necessary trainings so that each farmer would be able to further build on their capability and knowledge in handling and cultivating the seeds and seedlings. They can have bountiful harvests each year,” said David Lim, URC’s Chief Supply Chain and Sustainability Officer.

(Putnam) and an entrepreneur (Garrett) “draws a parallel between the Gilded Age (1870-1900) and our own troubled times, using the comparison to draw hopeful conclusions about how we might pull ourselves from our current mess.” Its subtitle—How A mer ica Came Together a Century Ago and How We Can Do It Again— is hopeful, and makes us realize that there is much we can learn from the past.

6. Time Smart by Ashley Whillans

Time is currency, and it pays to value it. By explaining her research on money, time, and wellbeing, Whillans “makes a strong

The Sustainable Potato Program is part of URC’s move towards becoming a global sustainable organization. “Our company is building its sustainability roadmap alongside the United Nations Sustainable Development Goals,” said Laurent Levan URC’s Senior Vice President for Corporate Development and External Affairs. “This includes responsible sourcing, production, consumption, and developing the capabilities of communities for better livelihood.” As the country looks forward to recovery from the pandemic, the agricultural sector continues to play a huge role in reviving the economy and sustaining food security.

n Music: We Got releases comically bizarre music video of ‘Panahon’

MANILA, PHILIPPINES—Eightpiece reggae collective We Got has released the official music video of their new single “Panahon.” Directed by Shai Advincula, the story takes place in the time of pandemic, where a woman in isolation finds unexpected companionship in the unlikeliest of circumstances. According to Advincula, the concept behind the music video revolves around the idea of isolation and the crazy things that we do to cope with the loneliness that comes with it. She explains, “Over the past year, our lives have shifted by being stuck at home

Self-actualization, the full realization of one’s creative, intellectual, and social potential, sits on top of Maslow’s famous “ hierarchy of needs.” In this book, Kaufman, a psychologist, digs into recent research on the concept and brings the idea of self-actualization up to date. To experience it, Kaufman says “There is an art of being. But now there is a science of being.” PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the Senior Vice President for Marketing and Communications of SM, is the former local chairman. We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail. com.

most of the time. There are a lot of things that we’re missing from our pre-pandemic life, one of which is the affection we get from a companion. But how do we cater to our need for affection in a socially distanced world? The music video shows a bizarre but refreshing take on coping.” Vocalist and guitarist Mack Dela Cruz reveals that it was the band’s first time to work with Advincula. “She’s very professional, and her ideas blew our minds. We had so much fun and it was a great experience for us working with such a tremendous team.” Written by the band’s guitarist Mike Quebral and arranged by vocalist and guitarist Mack Dela Cruz, “Panahon” was recorded at Kodama Studio with the goal to produce a calm, soothing piece of music that finds worth in spontaneity, and not having to waste life worrying about the daily grind. “We know a lot of people suffering from depression, so I wrote this song to remind people that there is hope, and slowly but surely, you’ll be able to get past it with a renewed perspective in life,” Quebral shares. The song is part of We Got’s debut EP, Hiwaga, which was released on all digital music platforms worldwide last week. Produced by Raymund Marasigan and mastered by Shinji Tanaka, the 7-track release delivers infinitely hummable jams that prove to be both fun and heartwarming.

The World BusinessMirror

Monday, July 26, 2021

Thailand reports new Covid record with 15,335 infections

hailand reported 15,335 new Covid infections, a new daily record, as the Southeast Asian nation battles the spread of the Delta strain. A near twoweek semi-lockdown, which has included an overnight curfew and the shuttering of shopping malls to gyms, has failed to halt the deadliest outbreak the country has experienced since the pandemic began.

A total of 129 fatalities were reported in the past 24 hours, the highest one-day tally in more than a week, official data showed Sunday. Almost half of the country’s about 4,000 deaths have occurred this month.

Key developments: Brazil reports more deaths

A total of 1,108 deaths were reported in Brazil in the past 24 hours, bringing the total to 549,448, the country’s health ministry said on its website. Brazil confirmed 38,091 new Covid-19 cases Sunday, raising the total to about 19.7 million, according to the ministry.

French cases jump to highest since May

The number of cases in France climbed to more than 25,500, the highest total since early May. The past week has shown that

Unvaccinated snow leopard at San Diego Zoo gets Covid

AN DIEGO—An unvaccinated snow leopard at the San Diego Zoo has contracted Covid-19. Caretakers noticed that Ramil, a 9-year-old male snow leopard, had a cough and runny nose on Thursday. Later, two separate tests of his stool confirmed the presence of the coronavirus, the zoo said in a statement Friday. Ramil is not showing additional symptoms, the zoo said, but because he shares an enclosure with a female snow leopard and two Amur leopards, the staff assumes they have been exposed. As a result, the animals were quarantined and their exhibit was closed. It’s unclear how Ramil got infected. In January, a troop of eight gorillas at the zoo’s sister facility, San Diego Zoo Safari Park, contracted Covid-19 from a keeper who had the virus but showed no symptoms. The gorilla troop, which has since recovered, became the first known example of the virus infecting apes. The case prompted the zoo to request an experimental Covid-19 vaccine for animals for emergency use. The vaccine from Zoetis, animal health company that was once part of Pfizer, was administered to species most at risk of contracting Covid-19, including several primates and big cats. However, Ramil had not been vaccinated before his infection. There is no vaccine mandate for the staff, but unvaccinated employees are required to wear masks at all times, the zoo said. AP

infections are spread broadly across the nation with coastal regions now being hit hard because of the summer holidays, according to Laetitia Huiart, scientific director of the French public health agency.

NY cases, positive rates at 2-month high

New York state’s new infections neared 2,000 for the second consecutive day, with cases roughly tripling over the last two weeks. The 1,846 cases reported on Saturday by Governor Andrew Cuomo were the highest since May, with the positive test rate increasing to 1.86%, also the highest since then. Hospitalizations were at 494, a number that has also been ticking up in recent weeks. The state reported just one death. New York City Mayor Bill de Blasio says that more vaccines, rather than a renewed mask mandate or other restrictions, are the

way to combat the new spread, though the pace of inoculation has slowed in the city and state.

Japan to open vaccine passport applications

Japan will begin accepting applications Monday for a Covid-19 passport that’s intended to allow vaccinated travelers to bypass some testing measures and restrictions. The certificate will ease entry conditions for travelers heading to five countries—Italy, Austria, Turkey, Bulgaria and Poland— though initially won’t entitle people to avoid curbs on their return, the Nikkei newspaper reported Sunday, without citing any source. Japan will likely start using the passport for incoming travelers after the Tokyo Olympics end next month, according to the newspaper.

Australia to get more Pfizer doses

Aust r a li a has str uc k an agreement for 60 million additional Pfizer-BioNTech doses next year and 25 million doses in 2023, which would allow the country to offer booster shots, according to Prime Minister Scott Morrison. The country, which has struggled to accelerate inoculation efforts, on Saturday reversed previous advice on AstraZeneca Plc’s vaccine. Authorities told adult residents in areas with current outbreaks, including Sydney, to seriously consider

wearing a mask indoors or in crowded areas. “There has definitely been a shift in terms of perception of the virus, especially among those who are vaccinated,” said Krystal Pollitt, an assistant professor of epidemiology at the Yale School of Public Health. “It’s important for the vaccinated to continue masking, especially in places that have lower rates of vaccinations.” Los Angeles County has revived mask mandates for its 11 million residents, regardless of vaccine status, when they’re in indoor public settings. Daily case counts have risen 80% from the previous week. CDC Director Rochelle Walensky said on July 22 that the organization was sticking with its recommendations that fully vaccinated people don’t usually need masks, while allowing that wearing one may have some advantages. “Communities and individuals need to make the decisions that are right for them based on what’s going on in their local areas,” she told reporters. “You get exceptional protection from the vaccines, but you have the opportunity to make a personal choice to add extra layers of protection if you so choose.” The highly transmissible Delta variant has prompted many countries to rethink their publichealth strategies against Covid. Last month, Israel lifted most of its restrictions, but days later reinstated the requirement to wear masks indoors. On the other hand, England lifted all of its lockdown restrictions Monday, just as the UK saw the world’s biggest increase in infections. The US is the only country in the world that has different mask rules for vaccinated and unvaccinated people, a framework that’s difficult to enforce, according to Monica Gandhi, an infectious-disease expert at University of California San

Thousands protest lockdown in Sydney, several arrested

using the option. Austra lia prev iously had recommended that only people aged 60 and above should use the AstraZeneca product, which has been linked to rare blood clots.

UK may push for double-vaccination

Anyone wanting to attend a Premier League soccer match, a major concert or a mass event of at least 20,000 people from Oct. 1 will have to show they are fully vaccinated, the Sunday Telegraph reported. The government is also set to ramp up a social media campaign targeted at 18- to 30-year-olds with the aim of linking inoculations with the idea of going on vacation, the report said.

California’s ICU availability at 5-month low

California’s intensive-care unit bed availability fell to a five-month low as hospitalizations edged higher with more infections. The number of ICU beds available dropped by 89 to 1,977. That’s still twice the number compared with the peak of the pandemic in January. The positive test rate rose to 5.2%, one of the highest levels since February. The state added 7,984 new cases, bringing the total to almost 3.8 million, while deaths rose by 46 to 63,741. A total of 43.4 million vaccines were administered. Bloomberg News

As Delta spread quickens, CDC urged to revise mask guidance growing number of publ ic-hea lt h e x per ts are urging the Centers for Disease Control and Prevention to recommend that even fully vaccinated people wear face masks in public amid the resurgence of virus cases fed by the Delta variant. Doctors including former surgeon general Jerome Adams say the CDC acted prematurely in May when it announced that fully inoculated Americans would no longer need to wear a mask in most situations. That move was broadly seen as part of efforts to incentivize jabs. The different rules for the vaccinated and unvaccinated and the impression that Americans could let down their guard sowed confusion that has led to a higher rate of infections, according to Adams. “ T he execution was poor, and the results speak for themselves,” Adams, who currently practices anesthesia in Indianapolis, said in an e-mail interview. “Low mask usage, slowed vaccination rates and exploding cases.” Covid fatalities in the US surged 48% over the past week to a daily average of 239 and hospitalizations are also on the rise as the more transmittable version of the virus spreads rapidly. The CDC says the Delta variant now makes up 83% of all sequenced Covid-19 cases in the US, up from 50% at the beginning of the month. Unvaccinated people account for 99.5% of Covid deaths in the US and 97% of hospitalizations. Although the vaccines are highly effective against the virus, there is still a small risk that vaccinated people will get sick. There’s also a risk that fully vaccinated people will spread the disease to the unvaccinated, including to children who aren’t yet eligible for the jab. That’s why, despite being fully vaccinated, people may want to take extra precautions by

Editor: Angel R. Calso

Francisco. “This has led to a lot of confusion,” she said. Gandhi sug gests the CDC use metrics such as hospitalization rates to set its recommendations, and said that mask wearing indoors and in public spaces needs to be normalized in areas where infections are widespread. Noah Greenspan, a cardiopulmonary physical therapist in New York City who works with people suffering from the longterm effects of Covid, said it’s important to err on the side of caution, especially with surging cases across the country. Although a large body of evidence points to masks protecting others, one of the biggest mistakes in CDC messaging was not emphasizing that masks also protect the wearer, according to Greenspan. “The messaging is off and has been often off,” he said. “The lower we set the bar, the more we set ourselves up for more cases, for more severe cases, for more deaths and especially for more long-haulers.” Roughly 55% of Americans have received at least one dose of the vaccine, but the pace of new inoculations is falling and the rate of uptake varies widely in different parts of the country. On July 1, the Biden administration announced the deployment of teams to encourage vaccinations in pockets of the US with the lowest rates. It’s probably too late to quickly turnaround the surge in Delta variant infections, but any steps to slow transmission could save lives, according to Adams. “Instead of looking for the easy out, declaring mission accomplished, and saying this is a pandemic that now only matters to the unvaccinated, we have to be honest with all Americans,” Adams said. “We are going to be living with Covid for a while.” Bloomberg News

Protesters march through the streets during a ‘World Wide Rally For Freedom’ anti-lockdown rally in Sydney on Saturday, July 24, 2021. Mick Tsikas/AAP Image via AP

YDNEY—Thousands of people took to the streets of Sydney and other Australian cities on Saturday to protest lockdown restrictions amid another surge in cases, and police made several arrests after crowds broke through barriers and threw plastic bottles and plants. T h e u n m a s k e d p a r t i c i p a nt s marched from Sydney’s Victoria Park to Town Hall in the central business district, carrying signs calling for “freedom” and “the truth.” There was a heavy police presence in Sydney, including mounted police and riot officers in response to what authorities said was unauthorized protest activity. Police confirmed a number of arrests had been made after objects were thrown at officers. New South Wales Police said it recognized and supported the rights of free speech and peaceful assembly, but the protest was a breach of public health orders.“The priority for NSW Police is always the safety of the wider community,” a police statement said. The protest comes as Covid-19 case numbers in the state reached another record with 163 new infections in the last 24 hours. Greater Sydney has been locked down for the past four weeks, with residents only able to leave home with a reasonable excuse. “We live in a democracy and normally I am certainly one who supports

people’s rights to protest... but at the present time we’ve got cases going through the roof and we have people thinking that’s OK to get out there and possibly be close to each other at a demonstration,” said state Health Minister Brad Hazzard. In Melbourne, thousands of protesters without masks turned out downtown chanting “freedom.” Some of them lit flares as they gathered outside Victoria state’s Parliament House. They held banners, including one that read: “This is not about a virus it’s about total government control of the people.” A car protest rally is also planned in Adelaide, which is also under lockdown, with police warning they will make arrests over unlawful activity. By Friday, 15.4% of the nation’s population aged 16 and above have received both jabs for Covid-19. “We’ve turned the corner, we’ve got it sorted. We’re hitting the marks that we need to make, a million doses a week are now being delivered,” Prime Minister Scott Morrison said. “We are well on our way to where we want to be by the end of the year and potentially sooner than that.” The federal government said it will send thousands of extra Pfizer doses to Sydney while adults in Australia’s largest city are also being urged to “strongly consider” AstraZeneca in view of the scarcity of Pfizer supplies. AP

French protesters reject virus passes and vaccine mandate

ARIS—Some 160,000 people, including far-right activists and members of France’s yellow vest movement, protested on Saturday across the country against a bill requiring everyone to have a special virus pass to enter restaurants and mandating Covid-19 vaccinations for all health care workers. Similar protests were held in neighboring Italy. Police fired water cannons and tear gas on rowdy protesters in Paris, although most gatherings were orderly. Legislators in France’s Senate were debating the virus bill Saturday after the lower house of parliament approved it on Friday, as virus infections are spiking and hospitalizations are rising. The French government wants to speed up vaccinations to protect vulnerable people and hospitals, and avoid any new lockdown. Most French adults are fully vaccinated and multiple polls indicate a majority of French people support the new measures. But not everyone. Protesters chanting “Liberty! Liberty!” gathered at Bastille plaza and marched through eastern Paris in one of several demonstrations Saturday around France. Thousands also joined a gathering across the Seine River from the Eiffel Tower organized by a former top official in Marine Le Pen’s antiimmigration party. While most protesters were calm, tensions erupted on the margins of the Bastille march. Riot police sprayed tear gas on marchers after someone threw a chair at an officer. Other projectiles were also thrown. Later some protesters moved to the Arc de Triomphe and police used water cannon to disperse them. Marchers included far-right politicians and activists as well as others angry at President Emmanuel Macron. They were upset over a French “health pass” that is now required to enter mu-

seums, movie theaters and tourist sites. The bill under debate would expand the pass requirement to all restaurants and bars in France and some other venues. To get the pass, people need to be fully vaccinated, have a recent negative test or have proof they recently recovered from the virus. French lawmakers are divided over how far to go in imposing health passes or mandatory vaccinations but infections are rising quickly. More than 111,000 people with the virus have died in France, and the country is now seeing about 20,000 new infections a day, up from just a few thousand a day in early July. More than 2 billion people worldwide have been vaccinated and information about Covid-19 vaccines is now widely available, but many protesters said they felt they were being rushed into something they’re not ready to do. Céline Augen, a secretary at a doctor’s office, is prepared to lose her job under the new measure because she doesn’t want to get vaccinated. Ayoub Bouglia, an engineer, said, “We need to wait a little bit before the French people can decide... I think a part of France is always going to be unwilling and that blackmail and threats won’t work.” In Italy, thousands of protesters gathered in Rome, Milan, Verona and other cities Saturday, protesting the government’s decision to require a “Green Pass” to access indoor dining, local fairs, stadiums, cinemas and other gathering places. In the northern city of Verona, several thousand people marched down the main shopping street, chanting “No Green Pass!” and “Freedom!” They included families with young children, medical doctors who said they are risking their jobs not to get vaccinated and people who likened the Green Pass decision to decisions by fascist dictatorships. AP

2021 Sona:

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Did Duterte fail workers? His record on labor’s a half-full, half-empty glass

IN this May 1, 2019, file photo, thousands of workers march toward the Presidential Palace in Manila to pay tribute to workers in celebration of International Labor Day. The workers scored President Duterte allegedly for reneging in his campaign promise to end temporary hiring known as “contractualization” or “Endo” (end of contract). AP/BULLIT MARQUEZ

By Samuel P. Medenilla

ITH his term now nearly over, President Rodrigo R. Duterte is still hounded by calls to make good on his key campaign promises to the labor sector. Foremost of the commitments was to abolish contractualization, which organized labor viewed as a constant threat against their security of tenure. Right after winning the presidency, Duterte instructed the Department of Labor and Employment (DOLE) to adopt stricter policies on the controversial work arrangement, while Congress crafts a law to institutionalize the reforms. In the early years of his administration, DOLE conducted an aggressive campaign to weed out illegal forms of contractualization, resulting in the unprecedented mass regularization of workers. Since 2016, Labor and Employment Secretary Silvestre H. Bello III said they were able to regularize around 800,000 workers. It was a feat that even labor groups said was unheard of in previous administrations.

EO 51

DUTERTE also tried to come out with a policy to restrict contractual employment through his Executive Order 51 in 2018. However, except for a few provisions, the issuance only repeated provisions in the Labor Code on prohibiting illegal

contractualization. This includes allowing the National Tripartite Industrial Peace Council to declare activities which may be contracted out, as well as declaring as regular employees those workers whose employment was terminated. Nagkaisa Labor coalition chairman and Federation of Free Workers (FFW) president Sonny Matula said both policies are far from being a game changer in restricting contractual employment. Nevertheless, Matula, who is also a labor lawyer, said he cited the provision of EO 51 in his appeal to regularize several contractual workers who were illegally dismissed. The outcome of the pending cases, Matula said, could serve as jurisprudence on the implementation of EO 51.

SOT bill

EO 51 was not meant to be a standalone policy and should have been complemented by the Security of Tenure (SOT) Bill, which was passed in the House of Representatives and the Senate after it was endorsed by Duterte himself during his State of the Nation Address (Sona) in 2018. Both houses of Congress were

finally able to come out with an SOT bill in 2019, which was submitted to Duterte for his consideration. While the bill did not outrightly ban all forms of contractual employment, it expanded the scope of laboronly contracting, which is illegal. It also imposed fines on companies engaged in illegal contractualization, provided a transition fund for displaced contractual employees, and required contractors to be licensed by DOLE. Unfortunately, in July 2019, Duterte decided to veto the SOT bill, saying it destroyed the “delicate balance“ of employers and workers. The abrupt change of Duterte on the bill enraged labor groups who called him out for his betrayal of his campaign promise. “I think he will be remembered most as the President who hoodwinked workers into thinking that he will end contractualization,” Sentro ng Nagkakaisa at Progresibong Manggagawa (Sentro) secretary general Joshua Mata said in an interview. After the veto, Duterte no longer mentioned the issue of contractualization in his public addresses, including his Sona in 2019 and 2020.

DOFIL

INSTEAD, Duterte decided to focus on his other campaign promise of creating a new government agency to handle the affairs of Filipinos abroad: the Department of Overseas Filipinos (DOFIL). Several government agencies, including economic managers, were initially against the policy due to the cost and possible disruption it will cause on public services for Filipinos abroad. The opposition died down af-

ter Duterte insisted on the proposal in his 2019 Sona. Still, migrant stakeholders, including some non-government organizations, remain steadfast in opposing DOFIL, which they noted will merely add another layer of bureaucracy for Filipinos abroad. Currently, the law creating DOFIL is part of the priority legislation of the government. Last Monday, Sen. Miguel Zubiri disclosed that DOFIL and other priority legislation are expected to be finalized by August or September.

Landmark achievements

WHILE both the SOT bill and DOFIL were the most prominent pending policies, the current administration also passed major landmark labor-related policies. These include Republic Act (RA) 11210 or the Expanded Maternity Law, RA 10771 or the Green Jobs Act, RA 11058 or the Occupational Safety and Health Law, and RA 111651 or the Telecommuting Law. The last two have proven timely with the onset of the Covid-19 pandemic last year, which disrupted the operations of many businesses, forcing thousands of workers to work from home. Also in response to the pandemic, the government was among the first countries to declare Covid-19 as a compensable occupational disease. The government was also able to ratify Convention 151 of the International Labor Organization (ILO), which recognizes the right of government employees to organize. Congress, however, has yet to come out with the necessary law to fully implement the said international convention.

Labor controversies

HOWEVER, not all of the international attention painted the country in a positive light. The International Trade Union Confederation (ITUC) tagged the country among the top 10 worst countries for workers due to the alleged rampant extra-judicial killings, which included those of labor unionists, in the last five years. The government already accepted the request of the ILO to deploy a high-level mission to investigate the matter, but the probe has yet to commence. The surge in migrant workers, mostly from China, employed by Philippine Offshore Gaming Operators (POGOs) also generated international interest. Allegations that these migrant workers were being abused and they are taking employment opportunities from local jobseekers led to several investigations and policy reforms.

Lasting legacy

ALL of the cited achievements and failures of the administration in the labor front may ultimately be overshadowed by one of its biggest work-related endeavors yet: the National Employment Recovery Strategy (NERS). Finalized only this year, the NERS is meant to help companies and their workers recover from the impact of quarantine restrictions in response to the pandemic. The strategy consolidated all existing programs of the government, which targets to boost the employability of workers, particularly those displaced due to the pandemic. In the May round of its dis-

placement report, DOLE counted 1.1 million workers who were permanently and temporarily displaced amid the pandemic. Last year, DOLE reported over 5 million workers as permanently and temporarily displaced. The NERS focuses on upskilling and training of the displaced, and providing them with employment opportunities while at the same time helping companies retain their existing workers. Former dean of the University of the Philippines-School of Labor and Industrial Relations Rene E. Ofreneo expressed concern, meanwhile, over the execution of the programs amid the pandemic. He noted the government has yet to fully flesh out the programs of NERS, which will cover young entrants and those enrolled in various levels of the education system, including technical-vocational courses. “What is really worrisome is how the government is addressing the human development side (skills upgrading, basic education, etc.) because this is the main arena of global competition in the 21st century. This is still not clear,” Ofreneo said. In his view, it is this legacy of the administration which could help make or break the labor sector in the near future. Last month, DOLE and 10 other government agencies signed an agreement for the creation of the Philippine Skills Framework, which aims to “formulate sector-specific skills to guide the country’s workers in enhancing their skill.” It could be a good start; but given how deeply the pandemic has plunged the labor sector into misery, the climb back to decent work situation for all is bound to take a long time.

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FOOD PRODUCTION IN CRISIS:

DA’s biggest challenge comes amid tough reforms

AGRICULTURE Secretary William Dar and newly designated Ambassador on Food Security James Reid lead the launch of the Plant, Plant Plant program on May 26, 2020, at the DA Central Office in Quezon City. DEPARTMENT OF AGRICULTURE

By Jasper Emmanuel Y. Arcalas

The start of the Covid-19 pandemic ushered in the administration’s mantra of “Plant, Plant, Plant,” a counterpart initiative of its “Build, Build, Build” infrastructure banner. This time, though, it was focused on boosting food supply in a crisis. The “Plant, Plant, Plant” program is something that the Department of Agriculture (DA) touts as a key part of the Duterte administration’s legacy. Indeed, the current administration has achieved a number of remarkable feats in the agriculture sector. For one, the Philippines recorded its highest palay production

in 2020 at 19.44 million metric tons (MMT). And current production figures and forecast show the country is on track to breach the 20-MMT palay output level this year, setting a new record high. Aside from high palay production, the DA noted there is “more affordable rice available” in the market today, an echo of what economic managers have been trumpeting since the passage of the rice trade liberalization (RTL) law. Government officials note that rice prices have remained stable and did not contribute to food inflation following implementation of the RTL law.

NONIE REYES

HETHER in a pandemic or not, there is one priority that cuts across any administration: food production. And the Duterte administration is no different from its predecessors that pursued higher domestic food production, or at least, to a certain extent.

2021 Sona: Legacy for a Post-Pandemic Era President Duterte commended the DA for the record-high rice harvest last year, and for averting a rice price crisis amid the Covid-19 pandemic. The RTL law is one of the key legislative economic measures championed by the administration that will also serve as a cornerstone of agricultural recovery post-pandemic since the implementation of the Rice Competitiveness Enhancement Fund (RCEF) carries over to the next administration. It is in effect until 2024. Government officials and experts have noted that the RCEF is a game changer in the rice industry as it seeks to make Filipino rice farmers competitive against Asean counterparts. Not only Filipino rice farmers stand to benefit from the full implementation of RCEF but consumers as well. As the production cost of palay declines—the ultimate goal of the RCEF—the price of rice does, too. The road beyond the pandemic also requires overcoming the African swine fever (ASF) that has ravaged the local hog sector. Since confirming its first ASF outbreak in 2019, the Philippines has been grappling with the fatal hog disease to date. However, government officials pointed to a light at the end of the tunnel in the country’s bout with ASF: four areas (three municipalities and one city) in Batangas province have issued a declaration of freedom status from ASF. The DA has institutionalized measures to combat ASF, particularly its key program called Bantay ASF sa Barangay or BABay ASF, which seeks to strengthen biosecurity measures at the barangay or village level. On top of this, the DA has kickstarted numerous studies on the use of various measures to fight ASF, including an ongoing vaccine trial as well as preliminary field trials of the use of Ivermectin and other agents.

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Budget woes

BERNARD TESTA

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BUT there’s one thing that stands in the way of the full implementation of necessary measures identified by the DA to eliminate ASF and revitalize the hog industry: budget. DA officials earlier disclosed that it would take at least P34.333 billion to bankroll its three-year ASF recovery program that seeks to bring back and even exceed the country’s pre-ASF pork production level. The funds will be used to finance the four DA programs: calibrated repopulation and intensified production; establishment of swine breeder multiplier farms; provision of insurance premium; and biosecurity and surveillance programs. Through these programs, the DA said it aims to produce 440,563 breeders in the next three years, or more than enough to compensate for the estimated 332,928 breeders lost as of January 1, 2021. The DA added that by 2023, about 10.5 million finishers would have been produced, equivalent to 738,805 metric tons (MT) of pork. Furthermore, the identified interventions would result in the additional pork output of 84,000 MT for 2021, 238,192 MT by 2022, 474,012 MT by 2023, 809,172 MT by 2024 and 1.144 MMT by 2025. Industry players and government officials all agree that the Covid-19 pandemic showed one of the weakest links in the government’s interventions in the agriculture sector: lack of funding. The increase in funding for the agriculture sector through the Bayanihan funds paved the way for higher output and recovery of damaged sectors. The question for the next administration is whether it is willing to pour in money in the agriculture sector to sustain initial efforts to boost farming productivity and aid ailing industries.

2021 Sona: Legacy for

Business

Monday, July 26, 2021

HITS AND MISSES ON THE T

By Cai U. Ordinario

HE battle cry of the administration when President Duterte swept the elections in 2016 with 16.6 million votes was simple: genuine change. The national government created a zero to 10-point socioeconomic agenda that guided the administration’s policies. The agenda is composed of “loose ends” which previous administrations have left untied, forgotten. The agenda contained the following:

Peace, law and order, and zero (or minimal) corruption, smuggling, tax evasion, etc.

Maintain and improve on the strong macroeconomic fundamentals achieved by the previous administration through modest external debt and fiscal deficit, low inflation and interest rates, etc. (Achieving) good macroeconomic growth albeit poverty and inequality persist across households and subnational regions.

Reform the tax system to make it more equitable, progressive, and internationally competitive.

Deal with constitutional restrictions on FDIs (reduce the

negative list); improve the ease of doing business by cutting red tape.

Accelerate infrastructure investment, with at least 5 percent of GDP spending target—huge infrastructure deficit inadequately addressed by past administration.

Develop the agriculture sector focusing on farm-level productivity, support services to small farmers, improving market access, and developing agricultural value chain through linkages with agribusiness firms; part of a broader rural development strategy that promotes tourism as well.

Address bottlenecks in agrarian reform and management systems, including security of land tenure to make projects bankable and attract more investments in rural areas. Strengthen health care and basic education (K-12), focusing on math, logical thinking, analytical and communication skills; provide scholarships for tertiary education and address

IN this August 5, 2020, file photo, Eufemui Gica, 73, one of the beneficiaries of Parañaque City’s cash assistance program, shows the “Paraña-Cash” card that can be used to withdraw the P5,000 cash aid through mobile banking kiosks. NONIE REYES

CONSTRUCTION workers line up to have their health credentials checked before entering a construction site in Makati City. BERNARD TESTA

Biz leaders cite Duterte admin efforts but seek more reforms

By Tyrone Jasper C. Piad

HE economic reforms under the Duterte administration have supported business sector growth, but more needs to be done to fully lift the country out of the pandemic-induced recession. Business leaders interviewed by the BusinessMirror cited the tax reform packages as a major economic contribution, in addition to implementing policies to ease business processes and launching a massive infrastructure drive. Such initiatives are seen to boost job generation, economic spending and investments. The tax reforms passed so far are the Tax Reform for Acceleration and Inclusion (TRAIN) and Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. “These laws were expected to stimulate demand by putting more money in consumers’ pockets, while also allowing businesses to invest in growth. Unfortunately, their impact was negated by the Covid-19 pandemic,” Management Association of the Philippines (MAP) National Is-

sues Committee Chairperson Rizalina Mantaring said. TRAIN, which was implemented in 2018, lowered and rationalized personal income. It adjusted excise tax on oil and automobiles and introduced excise tax on sweetened beverages, in addition to increasing sin taxes. Collection from the first tax reform package is allocated to fund education, health care, infrastructure and social mitigating measures, among others. CREATE underwent a few revisions before being finally enacted just earlier this year. It reduced corporate income tax rate to 20 percent from 30 percent for domestic corporations with net taxable income of P5 million and below and have total assets of P100 million and below effective July 1, 2020. All other local firms and resident

foreign companies are imposed a 25-percent income tax. Last month, the Fiscal Incentives Review Board finalized the implementing rules and regulations (IRR) of CREATE. Apart from incentives, the IRR also covers the Strategic Investment Priority Plan, which will provide fiscal and nonfiscal support on certain industries to encourage investments. The German-Philippine Chamber of Commerce and Industry (GPCCI) said that launching the tax reform program has addressed the long-overdue rationalization of both personal and corporate income taxes and tax incentive system for investors. “Especially, the passing of CREATE was very important as this provides clarity for already existing businesses that invested in the Philippines but also for new potential investments,” the business group added. Still, Mantaring said that, “it also remains to be seen how the rationalization of incentives in the special economic zones will impact the decisions of current and potential locators.” Meanwhile, Philippine Chamber of Commerce and Industry (PCCI) Chair Alegria Limjoco also included on the list the passage of the Ease of Doing Business Law, which prescribed a period for government agencies to process trans-

actions. In addition, the law also mandates them to streamline their process and eliminate unnecessary procedures. “The economic reforms helped in having a fast-growing economy prior to Covid-19 and provided cushion when the pandemic struck,” she said.

ment look and prioritize creating a ‘green lane’ for businesses and further streamline the requirements as all business individuals shall undergo strict quarantine upon arrival anyway,” it added.

For the next administration

More needed to be done

WHILE the Duterte administration addressed some major business concerns, the industry representatives polled by this newspaper said more is yet to be accomplished. For example, the GPCCI pushed for the passage of the following bills: amendments to Public Service Act (Senate Bill 2094), amendments to Foreign Investments Act (Senate Bill 1156), and amendments to Retail Trade Liberalization Act (Senate Bill 1840). The business group said doing such can help German companies engaged in green technologies to participate further in the country’s Build, Build, Build program. “All these reforms can boost the country’s competitiveness in the region, support stronger job generation, inclusive growth and therefore, support a speedy economic recovery,” it added. Mantaring agreed, noting that opening up the economy to foreign investments can help in reviving the already ailing economy.

MANTARING: “These laws were expected to stimulate demand by putting more money in consumers’ pockets, while also allowing businesses to invest in growth. Unfortunately, their impact was negated by the Covid-19 pandemic.” FPHC.COM

This, in addition to full utilization of the Regional Comprehensive Economic Partnership (RCEP), she said. One of the biggest accords on economic cooperation, RCEP was signed by 10 Association of Southeast Asian Nations (Asean) member states and five Asean FTA partners, including Australia, China, Japan, South Korea and New Zealand in November last year. Meanwhile, GPCCI said that easing travel restrictions can also help support economic recovery. “We find…rigorous requirements on acquiring exemptions. Thus, we appeal that the govern-

THE business leaders said that the next leaders should focus on promoting digitalization, which has been highlighted in the pandemic due to mobility restrictions. Limjoco said there should be programs to help the country prepare for the Fourth Industrial Revolution. “Preparing for the economy of the future by accelerating digitalization of government and passing enabling laws for a digital economy is also important,” Mantaring said. Earlier this year, the Department of Trade and Industry said it aims to boost the contribution of the e-commerce industry to P1.2 trillion by 2022, which is equivalent to 5.5 percent of the country’s gross domestic product. The PCCI official added that the micro, small and medium enterprises—which is a major economic driver—should be given continued assistance in terms of financing, training and market access. With the national election just around the corner, the business and private sectors keenly await what more is in store for them.

r a Post-Pandemic Era

sMirror

Monday, July 26, 2021

E ZERO TO 10-PT AGENDA CHUA: “We created a lot of fiscal space over the years to fund K-12, conditional cash transfers, the PhilHealth indigent program, and in our infrastructure program.”

OFRENEO: “The TRAIN law punished ordinary people with more and higher indirect taxes, while CREATE only gave tax relief to the rich.”

such as the review of the closed mining sites shows the administration is seriously looking into the issue, she said. Oplas thinks the review also says the government “will not hesitate to have them permanently shut down.” Continuing the “Build, Build, Build” program even amid the pandemic was a good policy that will be sustainable and will help once the economy opens up again, according to Oplas. However, she noted, the vaccination effort is “really slow” and government must take steps to fast-tracking such. “Our border security to detect and make sure that no new variant or infected individual comes into the country is also a disappointment.”

ty,” Ofreneo stressed. He also lamented how the TRAIN and CREATE laws achieved the opposite of what they were meant to accomplish. The TRAIN law, he said, “punished ordinary people with more and higher indirect taxes,” while CREATE only gave “tax relief to the rich.”

’Pie in the sky’

jobs-skills mismatches.

Promote science, technology and the creative arts to enhance innovation and creative capacity toward self-sustaining, inclusive development. Improve social protection programs, including the government’s Conditional Cash Transfer program, to protect the poor against instability and economic shocks. Strengthen implementation of the Responsible Parenthood and Reproductive Health Law to enable especially poor couples to make informed choices on financial and family planning. The President’s economic team made progress as seen in the economy’s steady growth in the first four years of the Duterte administration, as well as key legislation enacted to meet the goals it set.

Unseen enemy

BUT then, tragedy struck. The year 2020 was the country’s—and the world’s—annus horribilis. And it happened because of an unseen enemy, Covid-19. Despite this and the many challenges encountered by the administration, Socioeconomic Planning Secretary Karl Kendrick T. Chua said the country has achieved majority of these goals. This was done, he said, through the passage of reform bills headlined by the Comprehensive Tax Reform Program (CTRP)—including the Tax Reform for Accel-

eration and Inclusion (TRAIN) and the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. Other laws passed included the Rice Trade Liberalization (RTL); Ease of Doing Business Act; Philippine Innovation Act; and the Expanded Maternity Leave (EML). The country’s chief economist said goals on social protection were supported by the National ID system, while the goal on human development was achieved with passage of the Universal Healthcare Act. “We created a lot of fiscal space over the years to fund K-12, conditional cash transfers, the PhilHealth indigent program, and in our infrastructure program,” Chua earlier said. Experts like De La Salle University economist Ma. Ella Oplas agreed with Chua and said the TRAIN and CREATE laws were important pieces of legislation that allowed the government to perform a “balancing act.” The TRAIN, she told the BusinessMirror, rewarded Filipino taxpayers with higher disposable incomes and gave them the freedom to spend their hard-earned pesos to help fellow Filipinos. Oplas also said that while the RTL will make competition in the rice sector more stiff, it will also serve as a wake-up call for “intermediaries that are the ones profiting from our farmers,” as well as the government to consider not only farmers but consumers in terms of policy making. Implementation of policies

FOR former Socioeconomic Planning Secretary Romulo L. Neri, “The administration would have done well economically had the pandemic not intervened. The high and sustained GDP growth would have given it sufficient fiscal and financial flexibility to undertake the needed measures to effect its social and economic plans. The 10-point agenda is basically doing more of the same better with some reforms here and there.” However, Neri said in an email, it would have been better if the administration had encouraged greater private-sector participation, especially for infrastructure projects. Turning to the private sector would have fasttracked implementation of these projects. He added that the AmBisyon Natin and the current Philippine Development Plan were “mostly piein-the-sky motherhood statements” and “full of inane verbiage.” These, Neri said, should be replaced with a more strategic development plan. “I recommend we scrap the old framework used in the plan and come up with a more strategic approach focused on the critical and catalytic factors. We need an economic recovery plan recognizing fully the damage done to our economy and livelihoods and incorporating the paradigm shifts under a new normal,” Neri said. Setting aside AmBisyon Natin was also part of the recommendations of the former dean of the University of the Philippines School of Labor and Industrial Relations, Rene E. Ofreneo. He said the next administration should come up with “a more inclusive and sustainable alternative development pathway.” Ofreneo this is needed given that “trickle-down economics” did not happen under the current administration. A case in point, he said, is how the RTL “bludgeoned the rice farmers.” He added that the recommendation of imposing a 5-percent tariff on pork also steered the administration from treading an inclusive development path. “In 2018-19, DA’s [Department of Agriculture] Undersecretary Fred Serrano and his boss then—Manny Piñol—were questioning this trickle-down approach because it fails to address deepseated problems of inequality and failure of government to be more aggressive in coming up with institutional reforms, such as direct support to the farming communi-

Gaps in SDGs

OFRENEO sees limited progress on innovation and inclusive development, and, given the level of ayuda to those negatively affected by the Covid-19 lockdowns, social protection in the Philippines leaves much to be desired. He added that the recent controversy on the World Bank report

concerning the performance of Filipino children in the Program for International Student Assessment (PISA) spoke volumes about the level of human development in the country. “Overall, the picture is not so good,” Ofreneo said. “On the 17 SDGs [Sustainable Development Goals], the government is on track to missing them all.” Unfortunately, former Socioeconomic Planning Secretary Dante B. Canlas said the Duterte administration did not have sufficient time to make up for its missteps. This includes its goal of attaining Upper Middle Income Country (UMIC) status. Canlas said the damage from the Covid-19 pandemic has reversed much of what the current administration achieved when it comes to its own targets before 2020. He said it did not help that the government’s response to the pandemic was “deemed inadequate.” The problems it encountered, which it may pass on to the next administration, include declining bank lending and inadequate social safety net programs like food aid and unemployment benefits, according to Canlas. “The war against dangerous and prohibited drugs has succumbed to charges of EJK and other human-

rights violations. Public investments and some government agencies have been stained by corruption, such as PhilHealth and the Bureau of Immigration. Mistrust by the public in government has grown as a result,” Canlas added. Canlas worries over the lack of confidence that has kept more foreign direct investments from Philippine shores, as well as the lack of a clear policy as to when schools can open again. He said students are “forgoing a great deal of human capital” with alternative firms of delivering academic instruction, particularly during the pandemic. Canlas echoed the observation of slow vaccination making herd immunity “a bridge too far.” He stressed, “There’s no more time for the administration—with preparations for the May 2022 election in high gear—to move forward in a profound way the elements of inclusive growth.” Suffice it to say, the next administration would have a long laundry list. Foremost on that list is recovering from the pandemic. Economists agreed that this will take a lot more change, abandoning the old ways for the new. “Life has a lot of surprises in store for us. The pandemic alone caused us all to challenge the old ways of doing things,” Oplas said.

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C6 Monday, July 26, 2021

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FINANCIAL REFORMS

STEPHANIE TUMAMPOS

laid good foundation, but rest of CTRP needed in recovery effort

By Bernadette D. Nicolas

ITH less than a year left, the Duterte administration is racing against time to pass the remaining packages under the Comprehensive Tax Reform Program (CTRP) and other pending economic reform bills to revive the pandemicbattered economy. Passing the rest of the tax reforms is also crucial in overturning international credit watcher Fitch Ratings’ “negative” outlook of the Philippines, according to the Office of the Spokesperson of the Department of Finance (DOF). While Fitch Ratings revised its outlook on the Philippines’s rating down to “negative” from “stable” as it cited the strong impact of the pandemic on the economy, it affirmed

the country’s rating at “BBB.” “We also emphasize that the credit bench markers are closely watching our progress with the tax reforms. However, in their latest report released this July, Fitch Ratings cited our progress in enacting the comprehensive tax reform program as a positive, which likely helped us keep our sovereign credit rating. Passing the rest of the tax reform will help us maintain our credit

grade and reverse the negative outlook given by Fitch,” the DOF said in an e-mailed response to the BusinessMirror. From the pre-pandemic level of 14.5 percent in 2019, the country’s tax effort also dropped to a low 13.9 percent in 2020 as the economy went into a recession due to the pandemic. “This downtrend may continue given no change in tax policy,” the DOF said. Under the CTRP, the government has yet to pass Package 3 or the Real Property Valuation and Assessment Reform Bill, as well as Package 4 or the Passive Income and Financial Intermediary Taxation Act (Pifita), both still pending at the committee level in the Senate. The Real Property Valuation and Assessment Reform Bill aims to adopt internationally accepted standards and professionalize real property valuation to promote investor confidence. Meanwhile, Pifita simplifies the taxation of passive income, financial services and transactions to make the Philippines competitive in attracting capital and

investments needed to finance largescale infrastructure, create jobs and boost economic growth. For economist and De La Salle University professor Maria Ella Oplas, however, it would be an uphill battle for the government to pass new fiscal and economic reforms, especially as election time draws near. “I don’t think there will be anything new from now until election time because [my feeling is that] the focus [really] is the election time; the people’s mindset is on the election,” Oplas told the BusinessMirror, in a mix of English and Filipino. While she agrees on the need to pass these two remaining tax reforms for the country to obtain a better outlook and credit grade from Fitch Ratings—as this will show the Philippines’s capacity to pay its debt—she said it would be better to delay the implementation of the Real Property Valuation Reform Bill.

Caution on property valuation

“THIS is something that is long overdue but may not be appropriate right after a pandemic when

businesses badly need help to recover,” she explained. She is concerned the bill may also negatively affect investments in the country, even as she acknowledged it can be a way for government to generate revenue. “It will raise real property valuation, which can drive up rentals. As we know, rental is a primary factor for production. If rental goes up, it can discourage investment,” she said. “It can be an awesome way to generate revenue for the government but again if you drive away investments and kill businesses, where will they get their revenues?” Given these concerns, Oplas said the government can signal the intent to pass the reform but implement it on a later date. In the meantime, the government can go for the other packages and reforms that can bring revenues. Pifita, for one, will help financial intermediaries recover from the impact of the pandemic. “Package 4 can help make financial, intermediary tax simpler, efficient and less prone to integrity

OPLAS: “This [Real Property Valuation Reform Bill] is something that is long overdue but may not be appropriate right after a pandemic when businesses badly need help to recover.”

issues. I go for it,” she said. Apart from tax reform packages, the DOF also pushes the bill to correct the current corporate and military pension systems to ensure fiscal sustainability and avert the ballooning of the military and uniformed personnel (MUP) pension budget to “unsustainable levels”— something that could negatively impact economic growth in 2030.

2021 Sona: Legacy for a Post-Pandemic Era BusinessMirror

www.businessmirror.com.ph “Without the reform, the Philippines could experience a contraction of the economy by as much as -12.3 percent in 2030, significantly worse than the growth impact of the 2008 financial crisis of -2 percent. Eventually, the national government will not be able to continue allocating a big portion of the annual budget for the MUP pensioners,” the DOF said. The DOF also hopes to see passage of the Capital Market Development Act of 2021 to further deepen the domestic capital markets by building a sustainable corporate pension system; and the amendments to the Foreign Investment Act, Public Service Act, and Retail Trade Liberalization Act to further liberalize the economy. “We intend to complete the remaining packages under the Comprehensive Tax Reform Program and the other economic reform programs previously mentioned. However, if these are not passed, we strongly urge the next administration to continue pushing for

these reforms,” the DOF said. Oplas also favors passing the amendments to the Retail Trade Liberalization Act and the Foreign Investment Act, saying these are needed amid globalization.

Good foundation

NONETHELESS, she noted, the administration has already laid out the foundation for the succeeding fiscal reforms with its passage of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) and the Tax Reform for Acceleration and Inclusion (TRAIN) Act. “In my view, they have laid a good foundation because …TRAIN is on the consumer side and the labor side, but at the same time…CREATE is really for the supply side,” she said, partly in Filipino. The DOF has touted CREATE as the “largest fiscal stimulus for firms” in recent history by providing P1 trillion worth of tax relief over the next 10 years. It did not only reduce the corporate income tax (CIT) rate;

it also paved the way for the rationalization of incentives for businesses. CREATE cut the regular CIT rate from 30 percent to 20 percent for domestic corporations with taxable income of P5 million and below, and with total assets of not more than P100 million; while corporations that earn a taxable income above P5 million benefit from an immediate reduction of CIT rate from 30 percent to 25 percent. Meanwhile, the TRAIN law provided a “robust and recurrent revenue flow that expanded social services and supported the country’s massive economic investments in modern infrastructure,” the DOF said. For the first three years of TRAIN’s implementation, the DOF said the government raised P305 billion in incremental revenues. It also reduced personal income taxes for 99 percent of taxpayers.

Excise taxes

THE Duterte government is also the

only administration that increased excise taxes three times within one presidential term, according to DOF. “The excise taxes on tobacco and alcohol products improved funding for the Universal Health Care Program—which is another landmark reform of this administration,” it said, noting that more than half or P93.57 billion of the total budget for health came from the 2019 “sin” tax collections. “This is almost twice the sin tax revenues earmarked for health in 2016, at the start of this administration.” The Tax Amnesty Act complemented the TRAIN law by letting errant taxpayers settle their outstanding tax liabilities, while providing the government with additional revenue for priority social and infrastructure programs. “These reforms have helped us fund and enact our economic stimulus bills—Bayanihan 1 and 2— which put in place several emergency measures to help businesses, espe-

Monday, July 26, 2021 C7 cially those in hard-hit sectors, continue to operate amid the pandemic,” the DOF pointed out. To cushion the impact of the pandemic on banks, the Financial Institutions Strategic Transfer (FIST) Act was also enacted to allow banks to offload souring loans and assets, clean up their balance sheets, and extend more credit to more sectors in need.

RTL, Build, Build, Build

OPLAS also commended the administration for passing the Rice Tariffication Law in a bid to ease the price of rice and also for pushing through with its Build, Build, Build program despite the pandemic, adding these programs would definitely help the country navigate the post-pandemic era. “[That’s what’s] important [to me]: we are ready when we finally open up for business again,” she said. For the country to thrive in the post-pandemic era, Oplas said the next administration should focus

on reforming the revenue collection agencies to make them more efficient, which she deems a better move than imposing new taxes for the country to manage its ballooning debt. Although she understands the need for the government to borrow more money especially amid the pandemic, she said accountability is still important. “Through the years our agencies have dealt with problems of collection; so it’s like, our revenue collection reforms have no teeth because they are not being implemented properly. So I am not pro any new tax but I believe there should be reforms in the revenue collection agencies,” she said. She also hopes the next administration will continue the Build, Build, Build program, review the country’s intellectual property rights, replace the Department of Trade and Industry’s One Town, One Product program, and invest in human resource development.

NONIE REYES

Trail of Duterte EOs shows food, taxes, energy, trade commitments as focus

By Samuel P. Medenilla

OOD, taxes, energy and international trade obligations accounted for most of the business-related executive orders (EO) of President Rodrigo R. Duterte for most of his term. Duterte started his term focused on issuing policies meant to address general public concerns as well as his campaign promises. Among the first EOs which he issued in the first year of his presidency institutionalized the right to

information of the public on government documents and transactions; increased the combat incentive pay of the Armed Forces of the Philippines, and established drug abuse treatment centers. Policies directly related to busi-

ness and financial matters only made it to Duterte’s priorities on the second year of his term, when he issued EO 13, Series of 2017, which strengthened the government’s antiillegal gambling policies. On the same year, he also issued EO 19, which implemented a reduction and condonation of real property taxes and interests/ penalties assessed on the powergeneration facilities of independent power producers under buildoperate-transfer contracts with government-owned or -controlled corporations. He also modified the nomenclature and the rates of import duty of certain information technology products to comply with the country’s commitment with the World Trade Agreement through EO 21.

Duterte issued separate EOs in 2017, which reduced the rates of duty on capital and equipment, spare parts and accessories imported by the Board of Investments, as well as the extension of the “mostfavored rates duty on certain agricultural products.” He would come out with more EOs on the same areas of concerns of his economic managers throughout his term. EO 61, Series of 2018, modified the rates of import duty on certain imported articles for the implementation of the Philippine tariff commitments pursuant to the country’s free-trade agreement with the European Free Trade Association. EO 65, Series of 2018, promulgated the Eleventh Regular Foreign

Investment Negative List. EO 116, Series of 2020, directed the adoption of a National Position on a Nuclear Energy Program. Some of the issuances of the President are also a direct response to existing economic developments, such as EO 113, Series of 2020. This EO temporarily modified the rates of import duty on crude petroleum oil and refined petroleum products so the government could take advantage of the low prices of said products in the international market and generate additional revenue for its pandemic response. Duterte also issued EO 123, Series of 2021, which modified the rates of import duty on certain agricultural products. This was meant to stabilize the supply

and the price of basic food items as people reel from the economic impact of the pandemic. This was augmented by EO 124, which imposed mandated price ceilings on selected pork and chicken products in the National Capital Region, where a spike in prices of both food items was seen. The slow impact of EOs 123 and 124 on the market price of pork meat prompted Duterte to issue EO 133, which increased the minimum access volume for the food item. He also issued EO 134, which modified the rates of import duty on fresh, chilled, or frozen meat of swine; and EO 135, which temporarily adjusted the rates of import duty on rice to control food-related inflation.