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Daily Archives: July 9, 2017

Meralco, power units’ sweetheart deals bared

By Luis Leoncio  Giant electricity distributor Manila Electric Co. (Meralco) has “sweetheart” deals with seven power plant affiliates for the supply of some 90 percent of its power supply requirements in violation of anti-trust provisions of the Electric Power Industrty Reform Act (EPIRA). 

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Exports group urges reset of BOC cases

Trade group Philippine Exporters Confederation (Philexport) had sought a reset of tariff cases with the Bureau of Customs (BOC) through an amnesty program since these pending cases are now sources of graft. 

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DOF wants GRT an option not a rule on tax payments

The Department of Finance (DOF) wanted the eight percent gross receipts tax (GRT) on self-employed and professionals as an option and not a mandated scheme for income tax payments as stated in the House of Representatives’ version of the tax reform program.

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Trillanes says no ‘silver lining’ under Duterte

By Gia Catimbang  The status of the economy during the first year of President Duterte lacks a ‘silver lining’ in ‘every viewable angle’, Sen. Antonio Trillanes IV said at the recent Kapihan sa Manila Hotel forum last July 3. 

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Peso weakness no cause for worry, says BSP chief

There is no worry in the peso value despite its nearly 11-year low close to a greenback last Thursday when it finished at 50.67 per $1 from 50.60 a day ago and already near its 50.73 record close on Sept.1, 2006, Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. said.

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Government infra buildup bid secures key financing

By Riza Lozada  The Asian Development Bank (ADB) is ready to assist the government to deliver on its ambitious Build, Build, Build infrastructure program, including a $100 million loan to fast track priority projects in transport and water system management, ADB President Takehiko Nakao said. 

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Pagcor distributes relief goods for Marawi evacuees

Iligan City – Some of 5,000 families displaced by the ongoing armed conflict in Marawi City received much-needed provisions from state gaming firm Philippine Amusement and Gaming Corp. (PAGCOR). 

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Biazon urges government to quantify smuggling

By Gia Catimbang  The government must take into account off-the-radar information such as the value of smuggled goods in its statistics to have a full picture of the economic situation, former Customs Commissioner Ruffy Biazon said in the recent Kapihan Sa Manila Hotel forum. 

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SMFI active in wings to back Marawi heroes

Soldiers—many of them in their 20s to early 30s– are rushed daily to V. Luna Medical Center from Marawi, wounded from shrapnel, snipers, mortars, IEDs and even land mines but their spirits are high and they are determined to even the score with the enemies. 

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Government execs meet to firm up Bangon Marawi plan

Member agencies of Task Force “Bangon Marawi” met last Friday to discuss the various recovery plans for the war-torn city. 

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