Expanded discount for senior citizens approved

THE House Special Committee on Senior Citizens has approved bills that will expand the provision of a 20 percent discount and exemption from value-added tax to senior citizens to include medicines, dietary supplements, vitamins, herbal products and formulated milk that have been properly prescribed or recommended by physicians.

House Bills 362 and 5425, authored by OFW party-list Rep. Marissa Magsino and Manila First District Rep. Ernesto Dionisio Jr., respectively, were approved by the House committee and will be consolidated.

Magsino welcomed the committee's decision and said that her bill will benefit many senior citizens who are forced to fend for themselves with their little life savings and pensions, which are largely used for personal expenses and medical needs, and the most disadvantaged have become street dwellers, begging for a living.

She said that the Constitution requires both the family and the government to care for elderly members through social programs.

In response to this constitutional directive, Congress passed Republic Act 7432, or the "Senior Citizens Act," which was later revised by RA 9257 and RA 9994, or the "Expanded Senior Citizens Acts of 2003 and 2010," respectively.

Senior citizens are offered a 20 percent discount on certain products and services, such as medicines, as well as a 12 percent value-added tax exemption under this succession of laws.

Yet, these laws failed to provide for a definition of the term "medicines, which would identify specifics of their coverage, thus allowing many business establishments the leeway to determine which types of medicines are subject to the discount, and in many instances deny the grant of the privilege," Magsino said during her sponsorship speech.

"Moreover, the present laws do not include supplements and vitamins, formulated milk and other similar products that have proven important, especially during the pandemic, in maintaining the well-being of senior citizens," she added.

House Bill 362 proposes defining "medicines" as drugs, both prescription and nonprescription, generic and branded, duly prescribed by physicians and approved by the Department of Health and the Food and Drug Administration, to be used in the diagnosis, cure, mitigation, treatment or prevention of illness.

The bill intends to include dietary supplements, herbal products and formulated milk that have been officially prescribed by physicians, approved by the DoH and utilized in the diagnosis, cure, mitigation, treatment or prevention of disease.

"The amount of care that a society extends to its elderly members is a measure of the humaneness that particular society possesses. We Filipinos are known for our culture of cherishing and personally taking care of our elderly. Let us keep that distinction and pride alive," Magsino said. n

Maharlika to have 6 to 11% yield in 10 years

by Louise Maureen siMeon, PaoLo roMero Philstar.com

MANILA — The Senate committee on banks and financial institutions wrapped up on Monday, February 27 its hearings on the proposal to put up a Maharlika Investment Fund (MIF) that economic managers said can have an average yield of anywhere between six percent and 11 percent in 10 years.

Committee chairman Sen. Mark Villar said the panel will convene its technical working group to consolidate all inputs received in the three hearings even as senators indicated the Senate version of the MIF bill will have marked differences from the counterpart measure passed by the House of Representatives last December.

Upon questioning by senators, National Treasurer Rosalia de Leon gave initial estimates on the possible returns from the MIF, which is proposed to secure its seed fund from the Land Bank of the Philippines at P50 billion, P25 billion from the Development Bank of the Philippines (DBP), P17 billion from the Bangko Sentral ng Pilipinas and still undetermined contributions from the Philippine Amusement and Gaming Corp., royalties and special assessments on natural resources and privatization. She said the MIF may be placed in private equity infrastructure or in the capital markets or both. If the fund –estimated to be initially at P150 billion to P200 billion – were invested in the capital market, it would have a 10-year average return of 6.51 percent.

“So that is of course higher than the important target inflation of two to four percent and even higher than our 10year average GS (government securities) yield of 4.7 percent, indicating that it is a better return than the traditional conservative investment option,” De Leon said.

If placed in other sectors like power, real estate, infrastructure and logistics, the 10-year average return would be a 10.78 percent, she said.

“Of course, we’d like to diversify the portfolio… this would be a more realistic allocation strategy and on a 5050 allocation between the major sub funds, 8.64 percent per year on average, which is also double the four percent upper bound of the long-term inflation target and more than two percent above the most recent yield,” she said.

Not unique

Senate Deputy Majority Leader Joseph Victor Ejercito said investments allowed under MIF are the same as those allowed for government financial institutions.

Such investments are in cash, foreign currencies, metals and other favorable commodities, fixed income instruments issued by a sovereign, quasi-sovereign and super-national and in joint venture or co-investments.

“What makes it (MIF) unique, because these are also being done by the GFIs?” Ejercito said.

Undersecretary Zeno Ronald Abenoja, chief economic counselor of the Department of Finance, said the purpose of the MIF is to focus government investments on strategic destinations, but with commercial rate or even higher than market returns.

Villar sought the opinion of the National Development Co. on how the creation of the MIF would affect their operations.

Some senators earlier said the NDC could be the one handling the MIF instead of the MIC.

“I just want to get a comment from the NDC and clarify what is your stand on the Maharlika Fund and the creation of Maharlika Investment Corporation,” Villar asked.

NDC general manager Antonilo Mauricio said the NDC does not have a position on the creation of the MIF since the agency has not been involved from the start in the conceptualization of the proposed sovereign wealth fund.

Mauricio, however, suggested to senators “to give emphasis on NDC as an investment arm.” up and positively identified them as those principally involved in brutalizing Salilig and himself.

Asked by Sen. Nancy Binay whether the MIC would be a competitor to the NDC, Mauricio replied the corporation is focused on smaller deals and investment gaps that national government agencies might have overlooked.

Rogelio Quevedo, of the Office of the Government Corporate Counsel, explained that while the NDC would be focusing its investments on local development projects, the MIC would invest in treasury bonds, equities and government securities.

Cap on foreign funds National Treasurer De Leon also said there should be a limit to the resources foreign entities may pour into MIF to ensure their participation in decisionmaking is restricted.

She said both the Senate and House versions of the MIF bill don’t provide for such restriction.

“We are thinking of putting a cap in terms of the limit on how much offshore investments can participate in the corporation,” De Leon said.

“There should be a cap on how much you can invest. We can put it in the IRR (implementing rules and regulations) or put it in the law already, if needed,” she said.

The rationale behind such a proposal, according to De Leon, is to keep foreign investors from becoming part of the board of directors of the MIC. This means they will have no seat or voting rights in the MIC.

In the proposed measure’s current form, the corporation is represented by the founding members including the secretary of the Department of Finance, heads of the Landbank and DBP, as well as an advisory board.

There will also be independent directors whose seats are reserved for nominees of the Landbank and DBP, given the size of their capital contribution.

“Since the sizable amount will be from Landbank and DBP, it would be pro rata to their contribution,” De Leon said.

Police have arrested and filed complaints of violating the antihazing law against six members of the fraternity.

POLICE have considered the death by hazing of Adamson University student John Matthew Salilig a “solved” case after the arrest of several members of the Tau Gamma Phi fraternity and the filing of criminal complaints against them.

In Cebu City, the local police office said it was also investigating an alleged fraternity hazing death of a 20-year-old second year marine engineering student of University of Cebu (UC) in December last year.

“By the arrest of most officers of this fraternity chapter, we can consider this case solved, but not case closed. I am morally convinced that we have an airtight case,” Biñan City police chief Lt. Col. Virgilio Jopia told reporters.

Gregorio Cruz — the father of Aron Cruz, who is also a Tau Gamma member and person of interest — was also detained on Wednesday for obstruction of justice for refusing to hand over the blue-grey Ford Everest of his son in their home in Parañaque City.

“I was thinking of already quitting in the middle of the initiation rites, because I might die since I couldn’t bear it anymore. After receiving 20 paddles, I wanted to quit, because it’s too painful. But I was already there, and got past 20 paddles, so I just pursued,” he told reporters. He said it took him a week’s rest before he was able to walk again. But the hazing did not stop with the paddles.

Even as the private sector will be encouraged to invest in the fund, she stressed the MIC would have no private sector representatives – at least in the board of directors.

But Binay and Sen. Sherwin Gatchalian questioned such restriction, saying it would make the MIF less appealing.

“Foreign investors are very particular on representation, primarily to protect their investment,” Gatchalian said.

De Leon explained that putting a cap on foreign investments would ensure the government remains the majority holder of the institution.

“For you to be on the board, then you would have to have more than 25 percent shares of the corporation,” she said. “But then the limits will prevent them from getting that much. Majority will still be the government.”

De Leon clarified that the only time that a foreign entity can sit in the board is when the MIC enters into a deal with another company and forms a joint venture.

Binay suggested that the law should make it clear that no foreign entity can be part of the board regardless of the size of its investments. n

On Thursday morning, March 2, six Tau Gamma members were brought to the Department of Justice (DOJ) in Manila for inquest proceedings on two counts of violation of the anti-hazing law, Republic Act No. 8049, as amended by Republic Act No. 11053.

Each one faces a prison term of 20 years to 40 years and a fine of P3 million for each count.

Salilig’s brother, John Michael, and Roi Osmond Tuazon dela Cruz, a 21-year-old neophyte who reportedly underwent hazing with Salilig, were named complainants.

The six fraternity members — Tung Cheng Teng Jr., 22, the “Grand Triskelion,” or leader of Tau Gamma’s Adamson chapter; Earl Anthony Romero, 21; Jerome Balot, 22; Sandro Victorino, 28; Michael Lambert Ritalde, 31; and Mark Pedrosa, 39 — “voluntarily” appeared on Wednesday, March 1, at the police station in Biñan, Laguna province, where the hazing occurred.

The six persons of interest were supposed to just answer questions from investigators and give statements on their participation during welcoming rites conducted by members of Tau Gamma’s Adamson chapter for Salilig and initiation rites for three neophytes.

However, in the course of investigation, they became suspects when Dela Cruz showed

Pagpapalathala: Ika-16 ng Pebrero, Ika-23 ng Pebrero, Ika-2 ng Marso, Ika-9 ng Marso, 2023 TAG: Pagsasara ng Pagpaparehistro, Espesyal na Halalan, Tagalog

PAUNAWA PARA SA MGA MANGHAHALAL SA PAGSASARA NG PAGPAPAREHISTROPARA SA 2023 PUROK 1 ESPESYAL NA HALALAN

NA GAGANAPIN SA LUNES, IKA-3 NG ABRIL, 2023 SA LUNGSOD NG HENDERSON

ANG PAGPAPAREHISTRO AY MAGSASARA

SABADO, IKA-18 NG MARSO, 2023

ANG PAUNAWA’NG ITO AY NAGBIBIGAY NANG KAALAMAN na ang pagpaparehistro ng botante para sa 2023 Purok 1 Espesyal na Halalan na gaganapin sa Lunes, ika-3 ng Abril, 2023, ay magsasara sa Sabado, ika-18 ng Marso, 2023 sa 5:00 n.h.

Ang kahit na sino ma’ng karapat-dapat na manghahalal na ang pangalan ay hindi makikita sa opisyal na talaan ay maaari’ng magparehistro sa pamamagitan ng pagbisita ng pangkaraniwa’ng oras ng pangangalakal, sa Lalawigan ng Clark Sentro ng Halalan, 965 Trade Drive, Suite A, North Las Vegas o sa Lungsod ng Henderson Tanggapan ng Kawani, 240 South Water Street, Henderson. Ang Lalawigan ng Clark Kagawaran ng Halalan ay bukas Lunes hanggang Huwebes, 7:30 n.u. hanggang 5:30 n.h. Ang Lungsod ng Henderson Tanggapan ng Kawani ay bukas Lunes hanggang Huwebes, 7:30 n.u. hanggang 5:30 n.h.

Mga pinahabang oras sa Lungsod ng Henderson Tanggapan ng Kawani Sa ika-17 ng Marso at ika-18 ng Marso, ang pagpaparehistro ng bontante ay maaari’ng gawin nang personal sa Lungsod ng Henderson Tanggapan ng Kawani, 240 South Water Street, Henderson, NV 89015, sa panahon ng mga pinahabang oras tulad ng sumusunod: Biyernes, ika-17 ng Marso, 2023 8:00 n.u. – 5:00 n.h. Sabado, ika-18 ng Marso, 2023 8:00 n.u. – 5:00 n.h.

Upang magparehistro sa online, bisitahin ang website ng Lalawigan ng Clark Kagawaran ng Halalan sa http://www.clarkcountynv.gov/vote at pumunta sa Serbisyo sa Online na Pagpaparehistro “Click Here” na buton. Ang serbisyo’ng ito ay magagamit 24 na oras sa isang araw.

Para sa karagdagang impormasyon, pinapakiusap na makipag-ugnayan sa Lungsod ng Henderson Tanggapan ng Kawani, 240 South Water Street, Henderson, NV 89015, o sa pamamagitan ng pagtawag sa 702-267-1400 o sa website ng Lungsod sa www.cityofhenderson.com

The car was allegedly used to transport a bloodied Salilig on February 18 back to Metro Manila from a house in Barangay Casile, in Biñan, where the initiation rites took place. When his fratmates noticed that he was already lifeless, Salilig’s body was transferred to the compartment of a second vehicle, and eventually buried in a shallow grave in Imus City, Cavite province, according to Jopia, quoting one unidentified witness.

Authorities found the 24-year-old Salilig’s battered and decomposing body 10 days later in a vacant lot in Barangay Malagasang I-G.

One suspect led police to the grave site, while another executed an extrajudicial confession, Jopia said.

Autopsy result

An autopsy conducted by the Cavite Provincial Crime Laboratory Office found that Salilig died due to “severe blunt force trauma to the lower extremities.” His body was mangled from his chest down to his thighs.

Witnesses told investigators Salilig was beaten with a paddle more than 70 times during which he vomited and even defecated himself.

Of the 11 other persons of interest, three who are members of Tau Gamma’s Biñan chapter had already surrendered to the local police. The eight others who are members of the fraternity’s Adamson chapter have not yet surfaced.

According to Dela Cruz, who is also an Adamson student, his recruiters told him that he would only receive at most 24 paddle beatings. But on the day of his initiation rites, they beat him more than 70 times.

Candle wax, leather belt Dela Cruz said hot melted candle wax was also poured on his back in the image of a triskelion, Tau Gamma’s logo. And to remove the dried wax, he was whipped with a leather belt.

Salilig was not even supposed to undergo the welcoming rites as he had been a member of the fraternity since 2020 and passed initiation rites in Tau Gamma’s chapter in Zamboanga City.

One of the largest fraternities in the country, Tau Gamma Phi was founded in 1968 by students from the University of the Philippines Diliman. Its members call themselves “triskelions.”

Although the fraternity has publicly declared a “no hazing” policy, at least 14 hazing incidents have been attributed to its members since 2006.

Prior to Salilig’s death, Reymarc Rabutazo, a Grade 12 student, died after undergoing initiation rites by Tau Gamma in Laguna in March 2022. According to his mother, the 18-year-old “suffered a lot” before he died, with his body bearing cigarette burns, his teeth missing, and his skull cracked.

In 2012, Tau Gamma’s founder Vedasto “Tito” Venida condemned the fraternity’s practice of hazing and said that the brotherhood had “taken so many innocent lives.”

Among notable personalities in Congress who are Tau Gamma members are Representatives Bong Teves Jr. and Alfredo Garbin of TGP and AKO Bicol party lists, respectively; Batangas Rep. Ralph Recto; Leyte Rep. Richard Gomez; and Senator Joel Villanueva. Cebu case

In Cebu, the police said they were also looking into the alleged u PAGE 7

Ipalathala: Ika-24 ng Pebrero at ika-3 ng Marso, 2023

TAG: Paunawa ng Halalan kasama ang Pagboto/Mga Kandidato, Espesyal na Halalan, Tagalog

ESTADO NG NEVADA – LALAWIGAN NG CLARK

Ako, si JOSE LUIS VALDEZ, ang nararapat na itinalagang Kawani ng Lungsod para sa Lungsod ng Henderson, Estado ng Nevada, ay nagpapatunay na ang Espesyal na Halalan ay gaganapin sa Lunes, ika-3 ng Abril, 2023. Ang mga lugar ng pagboto ay magbubukas mula 7:00 n.u. hanggang 7:00 n.g. sa nasabing petsa.

SAKSI ANG AKING KAMAY at PANGSELYO ngayong ____ araw ng Pebrero, 2023

JOSE LUIS VALDEZ

Kawani ng Lungsod

LISTAHAN NG MGA KANDIDATO NA IBOBOTO SA IKA-3 NG ABRIL, 2023 ESPESYAL NA HALALAN

KONSEHO NG LUNGSOD, PUROK 1

APAT NA TAONG TERMINO

Tim Cox

Eddie “Every Cycle” Hamilton

Aaron Johnson

Alex Kleytman

Alisha “Ali Brady” Nilson

Jim Seebock

Melissa Woodbury

LUGAR NG PAGBOTO SA ARAW NG HALALAN PARA SA 2023 ESPESYAL NA HALALAN SA IKA-3 NG ABRIL, 2023 Munisipyo ng Henderson, 240 S. Water Street, Henderson, NV 89015

PINETSAHAN Ika-21 ng Pebrero, 2023.

Para sa karagdagang impormasyon, pinapakiusap na makipagugnayan sa Tanggapan ng Kawani ng Lungsod ng Henderson, 240 South Water Street, Henderson, NV 89015, o sa pamamagitan ng pagtawag