BMReports
What Filipinos should know about this thing called ‘QR’ By Jasper Emmanuel Y. Arcalas
Conclusion
E
XPERTS and government officials have said the scrapping of quantitative restriction (QR) on rice would spell the displacement of farmers. Former Labor Undersecretary Rene E. Ofreneo said the entry of imported cheap rice in the country might force rice farmers to shift to planting other crops. “The effect would not be immediate, but, the way I see it, there will be continuing labor erosion,” Ofreneo told the BusinessMirror. “You can imagine the displacement in the farming population. There would be a need for adjustment.” Ofreneo said even if rice farmers decide to shift to planting highvalue crops (HVCs), such an alternative wouldn’t be an assurance that they would stay in the agriculture sector. They could face problems in terms of planting technicalities, he explained.
A farmer walks along a path of a rice field at the foot of Mount Arayat in Pampanga. NONOY LACZA
media partner of the year
United nations
2015 environmental Media Award leadership award 2008
Continued on A2
BusinessMirror A broader look at today’s business
www.businessmirror.com.ph
n
Thursday-Friday, April 13-14, 2017 Vol. 12 No. 183
By Jonathan L. Mayuga
@jonlmayuga
EHIND their smile, there is a feeling of fear and resentment. Fear of getting transferred or eventually losing their jobs and resentment over what happened to some of their colleagues. The “emotional outburst”, triggered by a “show cause order” and “transfer order” affecting two employees—Miriam M. Marcelo, the
Telco data allow lenders to evaluate loan risks By Katryn Kristina T. Jose he dominant telecommunications players now share data with rural lenders under a scheme called Shared Services, which allows the Rural Bankers Association of the Philippines to crunch the numbers and help RBAP manage so-called credit risks. RBAP President Antonio O. Pasia said the Shared Services is designed to complement the credit scoring conducted by private analytics and telecommunications companies on potential or existing borrowers based on their cell-phone usage and billspayment history. The information will be integrated into the Shared Services system from where the Bangko Sentral ng Pilipinas (BSP) and rural banks can draw relevant data on the borrowers. “Through Shared Services, rural banks will be able to compete with larger financial institutions because they will have access to information on the borrowers, such as the activities of the farmers and their loan histories,” explained Dennis Emmanuel C. Peña, RBAP executive director. Pasia said Globe Telecom Inc. shares subscriber information with such credit-scoring and analytics institutions as Cibi Information Inc., Fico and CSS Corp. “Cibi, Fico or CSS Corp. will do the analytics from the data given by its carrier, [which is] Globe, then you [rural
bank] pay Cibi or the other to do the credit scoring,” Pasia elaborated. “If the BSP asks for a credit scoring of a certain type of borrowers, [like] onion farmers, the system will provide a model data collected and encoded by the rural banks on such individuals,” Peña said. With the organized and transferable information among rural banks, they can then extend credit faster to relocated farmers with good credit standing from the rural bank in their previous addresses. The Shared Services scheme effectively addresses a practical problem concerning rural borrowers whose credit scores are nonexistent. With it, RBAP may begin to lend to countryside clients without fear of breaching regulatory risk levels tolerated by the BSP. Thus, the RBAP anticipates developing its own communication and information technology consistent with standards set under the National Retail Payment System (NRSP) launched in December 2015 by the BSP. The NRPS digitizes payments through electronic systems, ease transfer of transactions from one account to another and allow the public to carry around less cash. BSP Governor Amando M. Tetangco Jr. said such speeds up payments, reduces costs, enhanced security, improves transparency and expands access to financial services in the country by 2020. See “Telco,” A2
PESO exchange rates n US 49.6700
chief of the personnel division and Rolando R. Castro, a supervisor at the same unit—is just the tip of the iceberg.
business news source of the year
The excluded Rene E. Ofreneo
Laborem exercens
We wanted to support our fellow career officials and employees who were unjustly transferred.” —DENR employee
T
“Its all about the hiring and firing happening in the Department of Environment and Natural Resources [DENR].” They said that, for them, it is the “suffering and social injustice” they had to Continued on A3
2016 ejap journalism awards
P25.00 nationwide | 12 pages | 7 days a week
‘Unjust’ firings at DENR demoralize employees B T
@jearcalas
he National Economic and Development Authority’s Philippine Development Plan (PDP) 20172022 declares that one of the major goals of the Duterte administration is social inclusion, a favorite term nowadays among development agencies, such as the Asian Development Bank, the World Bank and various United Nations agencies. Filipino politicians, past and present, have translated this into a populist slogan—Walang maiiwan! No one shall be left behind. Continued on A10
Spanish government eyes hike in financial assistance to PHL By Ma. Stella F. Arnaldo Special to the BusinessMirror
T
HE Spanish government is looking at other areas in which to strengthen its bilateral cooperation with the Philippines, with a possible increase in financial assistance for the period 2018 to 2022. In an interview on the sidelines of the Madrid Fusión Manila 2017 on April 6 at the SMX Convention Center, Spainish Ambassador to the Philippines Luis Antonio Calvo told the BusinessMirror that his government’s assistance reached €50 million for the 2014-to-2017 cooperation period. “[For the next three years], it depends on the budget. The budget is being discussed right now at the Cortes Generales; I think, it might be slightly more than that.” Priority areas for Spain’s cooperation program with the Philippines for 2014 to 2017 are democratic governance, disaster risk reduction and quality response to humanitarian crises. Its aid focuses mainly on the Bicol region and the Zamboanga Peninsula, specifically the Caraga region. But Calvo said Spanish businessmen are still waiting for clar-
FILIPINO officials and Spanish dignitaries attend the recent Madrid Fusión Manila. Madrid Fusión is back in the Philippines for the third time and featured award-winning and Michelin-starred chefs, with the theme “Towards Sustainable Gastronomic Planet”. From left are Tourism Secretary Wanda Corazon T. Teo, Foro de Debate President Jose Carlos Capel, Tourism Promotions Board COO Cesar Montano and Spanish Ambassador Luis Antonio Calvo. ROY DOMINGO
ity regarding the macroeconomic situation in the Philippines before making their investments. “They are trying to see into the future; they would like to have a clearer picture of how the macroeconomics, tax policy and so on is
going to be,” said the ambassador, who is now in his third year of representing the Spanish government in the Philippines. “I think, we are in the 10th month of this administration…it is going to be much clearer in the
short term. So, they will probably wait and see a bit longer before they will make a decision that involve future resources and physical areas, such as infrastructure, trade and so on.” See “Spanish government,” A2
n japan 0.4532 n UK 62.0577 n HK 6.3917 n CHINA 7.2087 n singapore 35.3951 n australia 37.2326 n EU 52.6651 n SAUDI arabia 13.2457
Source: BSP (12 April 2017 )