Dateline PhiliPPines

Super Typhoon ‘Egay’ wreaks havoc on 5 regions in PH — NDRRMC

by Franco Jose c. Baroña ManilaTimes.net

A TOTAL of 4,554 families or 16,888 individuals from across five regions in the country have, so far, been affected by Super Typhoon "Egay," according to the latest situational report issued by the National Disaster Risk Reduction Council (NDRRMC).

Regions currently being affected by the onslaught of Egay are Ilocos, Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon), Bicol, Western Visayas, and Northern Mindanao

The NDRRMC reported that of the total number of the affected population, 79 persons from Western Visayas were preemptively evacuated. On the other hand, 100 persons have been displaced due to the effects of Egay. At least three evacuation centers have also been set up. At least one person was reported injured. Meanwhile, a total of 21 raininduced landslides and floods were reported in Calabarzon, Bicol, Western Visayas, and Northern Mindanao, the NDRRMC said.

At least eight houses were damaged by the super typhoon with an estimated cost of P195,000. Three damaged infrastructures were also reported.

On the other hand, classes in

House can pass 10 bills noted in SONA before 2023 ends – Romualdez

128 cities and municipalities from the affected regions were suspended. Work was also suspended in 87 cities and municipalities.

The NDRRMC said a total of six domestic flights were canceled in Ilocos, Bicol, and Metro Manila.

Around 70 seaports also suspended operations in Calabarzon, Mimaropa, Bicol, Western Visayas, and Eastern Visayas.

A total of 4,743 passengers, 644 rolling cargoes, and 22 vessels were stranded.

So far, eight houses were reported damaged, seven partially and one totally, due to Egay and the Southwest Monsoon effects. n

Marcos trumpets Maharlika but skips mention of gov’t’s zero surplus funds — economist

by cristina chi Philstar.com

MANILA — While President Ferdinand “Bongbong” Marcos Jr. made sure to trumpet the “strategic financing” power of the recently signed Maharlika Investment Fund Act on Monday, July 24, the government has to address whether it has any idle funds that can be channeled into the wealth fund, an economist said.

In a message to Philstar. com, Enrico Patiga Villanueva, an economics lecturer at the University of the Philippines Los Baños, said that the government essentially has no surplus funds sitting idly that can prop up Maharlika, contrary to what Marcos said in his second State of the Nation Address.

“The existence of idle funds in (Government Financial Institutions) is a myth created to justify the diversion of bank funds to (the Maharlika Investment Corporation). If there are indeed idle surplus funds in the GFIs, then their leadership is not doing their job in maximizing use of funds,” Villanueva said.

Similarly, Sonny Africa of IBON Foundation, an economic state think tank, pointed out that the "socalled underutilization" of funds from state-owned banks and other GFIs "was never established."

"This is a feeble belated attempt to fend off well-founded criticism that resources are unjustifiably being diverted to the Maharlika fund," Africa said.

Marcos said on Monday that the country’s first sovereign wealth fund could be a tool to finance big-ticket infrastructure projects by tapping into the government’s underutilized funds.

Specifically, the president said: “In pooling a small fraction of the considerable but underutilized government funds, the Maharlika Fund shall be used to make highimpact and profitable investments, such as the 'Build Better More' program.”

Villanueva pointed out that the Philippines is currently in a deficit, which means that there are no surplus or underutilized funds as the government needs to borrow money or utilize other financing methods to cover the shortfall.

The country reached a budget deficit of P1.6 trillion in 2022.

Push to increase Land Bank capital points to lack of surplus funds

Villanueva added that if there

by Gabriel Pabico lalu Inquirer.net

MANILA — The House of Representatives can approve 10 of the 17 proposed measures that President Ferdinand Marcos Jr. mentioned in his State of the Nation Address (SONA) before the year ends, Speaker Ferdinand Martin Romualdez said in a statement on Tuesday, July 25.

Romualdez said that the House would work on the bills as these would help make the country a more conducive place for businesses that could create more jobs for Filipinos.

“I am extremely confident that the House of Representatives would again rise up to the occasion and accept the challenge from our President: to pass the 17 priority measures needed to sustain our economic recovery and improve the living condition of our people,” Romualdez said.

on Monday, July 24, just before Marcos delivered his second SONA.

It appears that the legislative body would be in for a lot of work as it looks to approve three bills that were considered priority measures by the Legislative Executive Development Advisory Council (LEDAC), namely:

• Unified System of Separation, Retirement and Pension of MUPs

• National Employment Action Plan were actual idle surplus funds, the government should not have pushed for the increase in the capital of the state-owned Land Bank of the Philippines (LBP) to support greater lending to agriculture and development.

“If the national government units have actual surplus funds in the GFIs, they are not doing a good job doing the programmed spending,” the economist said.

The House of Representatives in December approved on final reading a measure that hikes the paid-up capital of the LBP by P7.5 billion and of the Development Bank of the Philippines (DBP) by P2.5 billion. In a June panel discussion, the economist also explained that state-owned banks cannot do away with their capital or its “underutilized funds” as diverting these could undermine their main mandate and affect their compliance with the Bangko Sentral ng Pilipinas.

According to Republic Act 11954, the bulk of the capital of the MIF will come from state-owned banks like LBP, which already use their “surplus” funds to fulfill their mandates.

In the case of LBP, it serves u PAGE 7

“With the passage of all the proposed measures sought by the president, we hope that we in the House of Representatives can help strengthen the economy, revitalize businesses, and widen the scope of services provided to Filipinos,” he added in Filipino. According to Romualdez, seven of those bills have already been approved on the third reading by the House:

• Single-Use Plastic Bags Tax Act (House Bill No. 4102)

• An Act Imposing Value-Added Tax on Digital Transactions (House Bill No. 4122)

• An Act Mandating the Establishment of Fisherfolk Resettlement Areas by the Department of Agriculture, Department of Human Settlements and Urban Development, Department of Environment and Natural Resources, and Local Government Units (House Bill No. 6716)

• Anti-Financial Account Scamming Act (House Bill No. 7393)

• Automatic Income Classification Act for Local Government Units (House Bill No. 7006)

• Bureau of Immigration Modernization Act (House Bill

No. 8203)

• Ease of Paying Taxes Act

(House Bill No. 4125)

Meanwhile, Romualdez said the House could pass the following four measures before the House goes on a break in October:

• Anti-Agricultural Smuggling

• Amendments to the Cooperative Code

• Tatak Pinoy

• Blue Economy

The following six other bills may be approved by December or before the year ends:

• Motor Vehicle User’s Charge

• Military and Uniformed Personnel (MUP) Pension

• Revised Procurement Law

• New Government Auditing Code

• Rationalization of Mining

Fiscal Regime

• National Water Act

Romualdez said the House would also aim to pass the proposed 2024 national budget before the session break in October so that lawmakers would have more time to scrutinize it.

“Of course, the most important bill that we need to discuss and approve the soonest time possible is the 2024 General Appropriations Bill based on the National Expenditure Program prepared by the Executive Department,” Romualdez said.

“The national budget that we will pass will ensure that the taxes paid by our fellow Filipinos, along with other revenue sources collected, will go back to the people through programs, projects, and services,” he added.

The House resumed its session

• Amendments to the AntiAgricultural Smuggling Act Romualdez assured the public over the weekend that the House would remain committed to passing the LEDAC-approved priority bills. n

Southern California Regional Rail Authority

IFB NO. EP235-24

Bombardier Passenger Railcar Hvac Overhaul

BOMBARDIER PASSENGER RAILCAR HVAC OVERHAUL

The Southern California Regional Rail Authority (SCRRA) is seeking proposals for Bombardier Passenger Railcar HVAC Overhaul services. Solicitation documents may be obtained at https://metrolinktrains. com/doing-business (free registration). Electronic Proposals are due at 2:00 P.M. (PT) on September 5, 2023. The contract to be awarded will be funded in part by grants under the U.S. Department of Transportation, Federal Transit Administration. For further information, contact Brian Jacob, Senior Contract Administrator, at (213) 452-0316 or jacobb@ scrra.net.

7/26/23

CNS-3722082#

ASIAN JOURNAL (L.A.)