BusinessMirror August 13, 2026 by BusinessMirror

Youth bear brunt of weak job creation—ILO report By Mary Jade Jadormio

NEWS » A5

IMPEACHMENT TRIAL Supervising Auditor Xylene May del Campo of the Commission on Audit (COA) Intelligence and Confidential Funds Audit Office answers questions from defense lawyer Atty. Kristine Ferrer during the cross-examination on the 15th day of the impeachment trial of Vice President Sara Duterte on Wednesday, August 12, 2026. The cross-examination focused on COA’s findings related to the disbursement and utilization of confidential and intelligence funds. Story in A5. ROY DOMINGO/SPPA POOL

ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion

OUNG people are increasingly being left behind in the global labor market as job creation fails to keep pace with new entrants, widening the unemployment gap between youth and older workers, according to the International Labour Organization (ILO). Global unemployment among people aged 15 to 24 rose to 12.4 percent in 2025 from 12.3 percent in 2023, while the rate among workers aged 25 and older declined to 3.6 percent from 3.7 percent during the same period. The diverging trends pushed

the youth-to-adult unemployment ratio to 3.4 in 2025, underscoring what the ILO described as growing difficulties for economies to absorb young people entering the labor market. In its report Global Employment Trends for Youth 2026: Back to the future, ILO said the shortlived improvement in youth employment following the Covid-19 pandemic has stalled amid slowing economic growth, weaker job creation, geopolitical tensions and rapid technological change. Youth unemployment increased in eight of the world’s 11 subregions between 2023 and 2025, with the steepest increases record-

ed in Northern Africa, Northern America and Northern, Southern and Western Europe. The number of unemployed youth reached 67 million worldwide in 2025 after the global youth unemployment rate had fallen to its lowest level in more than two decades in 2023.

More youth outside work, school

BEYOND unemployment, ILO flagged a renewed increase in the number of young people who are not in employment, education or training (NEET). The global NEET rate climbed to 20 percent in 2025 from 19.7 percent in 2023, equivalent to

257 million young people and an increase of about 9 million in two years. The organization warned that the increase is particularly concerning because young people in NEET status are outside both the labor market and education system and are generally more difficult to draw back into employment or schooling than unemployed youth who remain actively engaged in job searches. Young women continue to bear a disproportionate share of the problem, accounting for more than two-thirds of young people in NEET status globally in 2025. See “Job,” A2

BusinessMirror A broader look at today’s business

EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR

(2017, 2018, 2019, 2020, 2021) DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

DESPITE SLOW GROWTH, 2026 INFRA SPEND CUT www.businessmirror.com.ph

Thursday, August 13, 2026 Vol. 21 No. 303

P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK

By Reine Juvierre S. Alberto

HE Marcos Jr. administration cut infrastructure spending to P1.272 trillion this year and plans only a modest increase in 2027, tempering a key source of economic stimulus in its bid to weed out corruption as the country tries to regain growth momentum. According to the Budget of Expenditures and Sources of Financing for 2027, the infrastructure program, including subsidies, equity and transfers to local government units, was reduced to P1.272 trillion this year from P1.558 trillion. The infrastructure program is equivalent to 4.2 percent of the gross domestic product (GDP). For 2027, the government intends to spend P1.340 trillion for infrastructure, or 4 percent of GDP, higher by 5.35 percent than this year’s target. The government is lowering its target to reflect what it can realistically spend in an “attempt to clean its own ranks,” said Leonardo A. Lanzona, economist at Ateneo de Manila University, to the BusinessMirror. “This isn’t a discretionary countercyclical choice—it’s a passive contraction forced by the flood control scandal fallout,” Lanzona said. Infrastructure spending has been contracting since the second half of 2025, when the flood-control corruption scandal erupted and resulted in stricter billing valida-

tion of Department of Public Works and Highways (DPWH) projects. “The lower infrastructure spending this year likely reflects slower spending in the first half of 2026, particularly the absorptive capacity constraints of major agencies such as DPWH, as well as the need to redirect some fiscal resources toward one-off subsidies to cushion the impact of the oil shock,” Domini S.D. Velasquez, chief economist at Chinabank, told the BusinessMirror. Infrastructure spending, albeit smaller as a share of GDP, shows fiscal constraints and the need to allocate resources to investments in the economy’s productive capacity, particularly education and health, Velasquez said. This comes at a bad time for economic growth since government construction was already a drag on second-quarter economic growth, while private investment and domestic demand have also remained weak, Lanzona said. “The fiscal lever meant to substitute for private investment See “Growth,” A2

DOST EYES MORE GOVT-FUNDED R&D FROM LABS TO INDUSTRY By Bless Aubrey Ogerio

IPOLOG CITY—The Department of Science and Technology (DOST) plans to focus its 2027 efforts on moving more government-funded research from laboratories into commercial applications, Science Secretary Renato Solidum Jr. said. According to Solidum, the agency typically allots around P7 billion to P8 billion for research and development (R&D), which he estimated at 20 percent to 25 percent of its roughly P32-billion budget.

“I think some of the organizations would have an increased budget,” Solidum told reporters on the sidelines of the DOST Regional Science, Technology and Innovation Week in Region 9. The science chief could not immediately provide the proposed 2027 budget figure, but said it was expected to be slightly lower than the previous year’s allocation. For 2027, Solidum said DOST intends to maintain its existing programs while increasing efforts to commercialize technologies developed through R&D and expand the application of science, See “R&D,” A2

PARTING THE SEA An estimated 418.4 metric tons of waste and debris collected and hauled was collected from the Redemptorist Water Channel at Parañaque City between August 10 and 12, 2026 as of 3pm Wednesday. The clearing operation was a collaboration of the city government of Parañaque City, Department of Public Works and Highways and the Metropolitan Manila Development Authority. The “sea of garbage” found in several parts of the metropolis, blamed for worsening the floods, has sparked a debate on the implementation of the solid waste law. NONIE REYES

Diokno on ’27 budget: Too tight, too many red flags By Andrea E. San Juan

FORMER budget and finance chief of the Philippines warned that the proposed budget for next year will be “exceptionally tight” amid the sharp slowdown in economic growth and the rising cost of borrowing which leaves little room for waste, delay and weak execution. At a briefing on Wednesday, Benjamin E. Diokno, who also served as a governor of the Bangko Sentral ng Pilipinas (BSP) and currently sits as a member of the Monetary Board, laid out his views on the 2027 National Expenditure Program submitted by the Department of Budget and Management (DBM) to the House of Representatives on Tuesday.

Diokno described the proposed budget for next year as “not having enough elbow room” as it faces pressure from the weak economic growth momentum. As such, the former budget chief said the budget “must be carefully crafted with programs and projects prioritized according to their readiness.” “Dapat handang-handa na ang implementation of the project, economic impact, and contribution to long-term growth,” the former economic manager of the country who wore several hats across four Philippine presidencies pointed out. Among others, Diokno seemed appalled at what he called extremely optimistic revenue assumptions set by the government. “Number 1, the revenue as-

sumptions seem too optimistic. Because if you have slower growth of the economy, it means lower revenues. But here, the revenues will even increase, and that’s impossible,” he pointed out, speaking partly n Filipino. Based on the Budget of Expenditures and Sources of Financing for 2027 released on Tuesday, revenues to be collected by the government are seen to reach P5.205 trillion amid expectations of a recovery in economic growth. Next year’s revenue goal is equivalent to 15.7 percent of gross domestic product (GDP) and is higher by 8.28 percent than this year’s reduced target of P4.807 trillion.

Tax cuts

SECOND, Diokno questioned the

tax cuts announced by President Ferdinand R. Marcos Jr. in his State of the Nation Address (Sona) last month. “He announced several tax cuts during the Sona including the reduction in personal income taxes,” but the president did not mention offsetting revenue measures that would need to be passed, he noted. So, he added, that’s not a credible scenario. Diokno said the privatization proceeds or funds from assets sold by the government are projected to rise by 166.1 percent—an assumption that, he said, “appears unlikely in a slow moving economy.” “Because if an economy is barely advancing, it’s hard to sell assets,” the former finance and budget See “Diokno,” A2

PESO EXCHANGE RATES n US 61.1040 n JAPAN 0.3837 n UK 82.5821 n HK 7.7878 n CHINA 9.0570 n SINGAPORE 47.7524 n AUSTRALIA 43.1272 n EU 70.5385 n KOREA 0.0433 n SAUDI ARABIA 16.2740 Source: BSP (August 12, 2026)

News

BusinessMirror

A2 Thursday, August 13, 2026

Growth…

Continued from A1

weakness is itself shrinking—both legs of gross capital formation (private capital-intensity bias and public capital expenditure) are underperforming simultaneously,” he added. The revised infrastructure targets also create “tension” with the Development Budget Coordination Committee’s growth outlook, which assumes GDP growth at 3.5 to 4.5 percent for 2026. “Infrastructure spending—historically one of the more labor-absorptive components of demand given construction’s employment intensity—is being cut precisely when the [Labor Force Survey] threads show rising underemployment,” Lanzona pointed out. With public investment providing less support, Lanzona said recovery would have to rely more heavily on a rebound in private investment and consumption. Despite the lower share, Velasquez said infrastructure spending can still be supportive of growth if the budget is directed toward shovelready, job-generating projects and implemented without delays. “Given the fiscal constraints, the key is ensuring that limited resources generate the highest economic returns,” she added. As of end-May, infrastructure spending and other capital outlays contracted by 42.9 percent to P268.4 billion from P471.5 billion in the same period a year ago. The Department of Budget and Management said this was due to the implementation of enhanced governance measures and stricter review and validation procedures for infrastructure projects.

www.businessmirror.com.ph

Meat importers: Frozen meat retail prices to rise on duties

By Ada Pelonia

HE Meat Importers and Traders Association (Mita) warned that retail prices of frozen meat products could rise due to safeguard duties slapped by the government on imported beef and ham ahead of the holiday season. Mita President Emeritus Jesus Cham made the pronouncement after the Department of Agriculture (DA) issued a document seeking to impose volume-based special safeguard (SSG) duties on several agricultural products due to a surge in shipments. Agriculture Secretary Francisco Tiu Laurel Jr. signed Department Order (DO) 24, requesting Customs Commissioner Ariel Nepomuceno through

Finance Secretary Frederick Go to enforce volume-based SSG on certain farm goods. The SSG duty is a trade mechanism that a country can levy on foreign shipments that fall below a trigger price. “Obviously, the SSG will impact the landed cost, and the retail price will go up,” Cham told the BusinessMirror. The DA wants to impose the trade

R&D…

gional and local levels. “But definitely, we will not be changing a lot. It’s really the same. But ramping up our effort at commercializing technologies that have been developed through R&D or applying

Continued from A1

technology and innovation at the re-

remedy on boneless, fresh, or chilled bovine meat; chicken curry and other prepared or preserved pork products, including hams, cuts, meat offal, and blood not stored in airtight containers for retail sale. Also included are other prepared and preserved meat, such as offal, blood, hams, cuts, and luncheon meat stored in airtight containers for retail sale. “For chilled beef, I wonder how much is actually coming in, as this would be mainly an item for high-end restaurants,” Cham said. He noted that more processed meat was seen coming in, since this is being presented as an affordable and convenient option. “Processed meat used to be ambient temperature products only, but frozen products are now available. The question is, have the volumes increased sufficient-

ly to activate the volume trigger?” Cham added. Under DO 24, the agency said its monitoring showed that shipments of these meat products have exceeded their respective trigger volume thresholds, which warrants the imposition of the trade measure. The Bureau of Customs (BOC) should compute and impose the corresponding SSG duty in accordance with the law. The measure will only be in effect until the end of the year when the SSG duty was imposed, unless earlier reduced or terminated in accordance with the law. Republic Act (RA) 8800 authorizes the DA to apply safeguard measures on agricultural commodities. Revenues collected from the SSG would form part of the fund to boost domestic industries injured by increased imports.

science, technology, and innovation process at the regional and local level. That’s our focus,” he said. The agency said it is also developing a broader research-to-industry network that would bring together universities, government agencies and businesses to address specific industry needs. For Solidum, the initiative would build on DOST’s Niche Centers in the Regions for R&D (NICER), which established research centers within universities across the country. “We need to develop an ecosystem that will involve the industry, the government, both national and local, and the university,” he said. DOST is conceptualizing a launchpad, which Solidum described a thematic network that would connect national and local governments, government and academic research institutions, and industry players to accelerate the use of research and innovation in

commercial and industrial applications. The proposed network is intended to help bridge the gap between research and actual industry use, rather than leaving technologies at the development stage, he explained. He said DOST is looking at models used in other countries, including the United Kingdom, where similar networks connect research institutions with government and industry. The initiative is still being worked out with the Commission on Higher Education and other government agencies, Solidum said. The agency’s proposed 2027 budget is scheduled for discussion during the House Committee on Appropriations’ budget hearings, with a briefing set for August 24. Solidum said lawmakers had already received an earlier briefing on DOST’s plans and challenges as part of preparations for the budget discussions.

Diokno on ’27 budget… Continued from A1

chief underscored. Diokno also expressed concern on the quality of spending which has weakened, pointing out that spending priorities have shifted away from “job-creating and growth-enhancing” programs and towards social grants. “It’s mostly ayuda. Have you seen the budget? Littered withcayuda…that are more vulnerable to political patronage. So this weakens the budget’s capacity to support productivity, employment, and long-term competitiveness,” the former economic manager said. According to Diokno, the infrastructure program “illustrates the problem.” As budget chief in the Duterte administration, he said around 5 to 6 percent of the (gross domes-

tic product) GDP was planned to be devoted to infrastructure. “If we compare ourselves with our neighbors—Singapore, Malaysia, Thailand, Indonesia, we look pathetic because we are not investing in infrastructure,” Diokno said in Filipino. As a result of the inadequate infrastructure investments, Diokno said Filipinos are now absorbing the impact through the poor quality of trains, roads, and bridges. From the 5 to 6 percent goal he mentioned, the Philippine economy is treading the downward path in terms of investments in infrastructure. He said: “For this year, 5.17 percent, for next year in the new budget, it’s just 4 percent lang. And then for next year is 3.96 percent.”

Beyond mere catchup in… Continued from A9

Guinigundo pointed out that a consumer sector growing at less than 3 percent is “hardly consistent” with an economy capable of sustaining 5 to 6 percent growth. Government consumption provided an important oﬀset, increasing by 8.3 percent. Exports also performed strongly, growing by 12.2 percent, while imports increased by 5.5 percent, he added. But these gains were overwhelmed by the sharp contraction in investment as gross

capital formation fell by 9.2 percent, following a 3.3 percent decline in the first quarter. “This means that investment has now become a major drag on growth rather than a source of it,” added Guinigundo. The “most disturbing element” was construction, the former BSP deputy governor said. Construction contracted by 14.8 percent, with public construction falling particularly sharply. Durable equipment investment also declined significantly.

Job…

Continued from A1

The NEET rate among young women stood at 27.4 percent, more than double the 13.1 percent recorded among young men, with unpaid care responsibilities, discrimination and limited access to quality jobs continuing to restrict women’s participation in the labor market. Conditions are also precarious in developing economies, where low unemployment rates can mask widespread job insecurity because many young people cannot afford to remain jobless and instead take informal or unstable work. Nearly nine in 10 young workers in low- and lower-middle-income countries remain informally employed, while two-thirds were still in insecure forms of work such as ownaccount or temporary paid employment by ages 25 to 29.

Entry-level jobs under pressure

THE report also pointed to a shrinking pool of middle-skilled jobs that traditionally served as entry points for young workers, including clerical support, service and sales, skilled agricultural work, trades, and plant and machine operation. Some of these occupations overlap with jobs considered highly exposed to artificial intelligence, with the ILO estimating that 6.1 percent of jobs held by people aged 15 to 29 are in occupations facing the highest exposure to AI-related changes. If only 10 percent of AI-exposed jobs were eliminated entirely, around 5.6 million employed young people could face unemployment, a job change or exit from the labor force, although the ILO stressed that the ultimate impact of technological change remains uncertain. Opportunities have remained stronger in high-skilled, knowledgebased occupations such as science, engineering, health and information and communication technology, where youth employment continued to grow across country income groups. ILO said reversing the deterioration will require governments to create more employment while strengthening education, apprenticeships, lifelong learning, employment services, social protection and labor rights, stressing that the challenge is not merely providing jobs but ensuring young people can move into secure and decent work.

Another concerning component he spotted in the proposed national budget is the interest payments as percent of the total revenues. “How much for interest payment? A debt is composed of two parts: amortization at interest payment. So let’s look at the interest on what we borrow. Compare it with tax collections. It’s [the ratio] very high now,” the former budget chief pointed out. Diokno said the government was initially looking at around 13 percent by this time. However, he said the new projection of the government is now at 21.4 percent. This means that for every P100 budget, P21.4 goes to interest payments alone, excluding the amortization payment. “That’s very alarming, because the quality of the budget declines since much of it is used simply to repay borrowings,” he explained. Based on the National Expenditure Program, the proposed national budget for 2027 is P7.2 trillion.

Given these developments in the composition of growth, Guinigundo said this is not simply a story about one bad quarter. Instead, it points to a “weakening of the economy’s capacity to expand in the future.” “A stronger second half would certainly be welcome. But the real test of economic management is not whether GDP can be pushed back toward 4 percent for a few quarters,” he said. “It is whether the government can restore the conditions for sustained, investment-led and productivity-driven growth. Otherwise, the Philippines should prepare not merely for another disappointing GDP number, but for a more persistent period of disappointing, but entirely expected, economic growth,” the former BSP deputy governor emphasized.

The Nation BusinessMirror

www.businessmirror.com.ph

Thursday, August 13, 2026

Leni-Raffy tandem in tight race with Sara-Imee, survey shows

By Rizal Raoul Reyes

HYPOTHETICAL 2028 presidential and vice presidential race is shaping up to be a tight contest, with the Maria Leonor “Leni” Robredo-Rafael “Raffy” Tulfo tandem holding only a 3-percentage-point lead over the Sara Z. Duterte-and Maria Imelda Josefa “Imee” R. Marcos pairing in the latest Tugon ng Masa (TNM) survey of Octa Research.

The Q2 2026 survey showed 45 percent of adult Filipinos saying they would vote for the Robredo-Tulfo tandem if the May 2028 elections were held today, compared with 42 percent who would support the Duterte-Marcos tandem. The latest figures represent modest gains for both hypothetical tickets from the previous quarter. Support for Robredo-Tulfo rose by 1 percentage point from 44 percent in Q1 2026, while the Duterte-Marcos tandem

gained two points from 40 percent. Octa pointed out that the results underscore how competitive the hypothetical matchup has become, with neither tandem establishing a decisive advantage nearly two years before the 2028 elections. Robredo–Tulfo v Duterte–Marcos is now the most competitive tandem pairing Octa has recorded across the TNM series. Earlier rounds saw Duterte–Marcos ahead by 15 to 25 points, but Robredo–Tulfo pulled

Landslide, floods fatalities increase By Jonathan L. Mayuga @jonlmayuga

HE death toll of the combined effects of Tropical Cyclones Luis, Maymay and the southwest monsoon has climbed, with the National Disaster Risk Reduction and Management Council (NDRRMC) reporting 21 and the National Police (PNP), 26. As of 6:00 a.m. on Wednesday, the NDRRMC casualty count included 14 injured and one missing. Most of the victims were from Benguet province due to a landslide. The latest two fatalities in Atok, Benguet, were confirmed following the retrieval of their bodies. In Baguio City, the death toll also climbed to 10; three in Rizal, and three in Batangas, the agency reported. Meanwhile, the number of affected persons continued to grow, with the NDRRMC receiving reports of the effects of the inclement weather from various regions in Luzon. So far, the NDRRMC said 909,133 families or a total of 3.14 million people were affected in Regions I, II, III, V, VI, IX, Calabarzon, CAR, NCR and Mimaropa. A total of 22,893 families or 80,442 people remain in 881 different evacuation centers. Floods and landslides induced by days of nonstop rains have also de-

@jrsanjuan1573

HE Supreme Court on Wednesday dismissed the petition filed by three lawyers seeking to compel the Senate Blue-Ribbon committee (SBRC) to release to the public its draft partial committee report on the multi-billion anomalous flood control projects. The decision junking the petition for mandamus and certiorari filed by lawyers Eldrige Marvin Aceron, Sikini Labastilla and Purificacion Bartolome-Bernabe was reached during yesterday’s regular en banc session of the Court. The petitioners sought the release of the draft partial committee report after it was leaked

Octa’s Q1 survey, ahead of DuterteMarcos at 40 percent. Duterte, meanwhile, has publicly expressed to run for the presidency in 2028, Marcos, while the incumbent senator and estranged sister of President Ferdinand Marcos Jr., gives the hypothetical ticket a combination of the Duterte and Marcos political bases. Earlier Octa results showed a pronounced regional dimension to the matchup. In the Q1 survey, RobredoTulfo posted particularly strong support in the National Capital Region and Balance Luzon, while DuterteMarcos dominated Mindanao. Octa explained the regional divide suggests that the strength of the two hypothetical tandems cannot be measured solely by their national percentages. The ability of either side to expand its support across geographic and demographic groups could prove critical if the matchup eventually materializes. Regionally, Octa said the Robredo– Tulfo tandem records its highest levels of support in Mimaropa (Mindoro, Marinduque, Romblon and Palawan)—84 percent, Bicol Region (71 percent), Central Luzon (71 percent), Ilocos Region (69 percent), Western Visayas (68 percent), and Negros Island Region (61 percent). Meanwhile, the Duterte–Marcos tandem posts its strongest support

Post-disaster efforts

THE PNP Chief Gen. Jose Melencio Nartatez Jr., meanwhile, announced that the force has stepped up post-disaster recovery efforts as communities start to repair the damage caused by tropical cyclones Luis, Maymay and the enhanced southwest monsoon. In line with this, Nartatez said he has directed police units in affected areas to maintain heightened visibility and work closely with local governments as they begin restoring normal community activities. “Our responsibility does not end with search and rescue operations. We will remain engaged in the recovery phase by maintaining security, supporting relief efforts, and helping communities recover from the effects of the disaster,” Nartatez said. See “Landslide,” A6

to several media outlets in February this year. They argued that the “deliberative process privilege” can no longer be invoked after then SBRC chairman, Sen. Panfilo Lacson, disclosed the report’s contents to the public in numerous occasions. The alleged leaked draft reportedly recommended the filing of criminal and administrative charges, including plunder, against several senators and other public officials in connection with the flood control scandal. The petitioners pointed out that the public has the right to information under Article III, Section 7 of the 1987 Constitution. See “SC,” A5

in Caraga (97 percent), Northern Mindanao (92 percent), Davao Region (91 percent), Bangsamoro region and Central Mindanao (both 88 percent), Zamboanga Peninsula (87 percent), and Central Visayas (82 percent). The results reveal a pronounced regional divide: Robredo– Tulfo performs strongly across several Luzon and Visayas regions, while Duterte–Marcos dominates throughout Mindanao and also leads decisively in Central Visayas. Individual-region figures are based on smaller subsamples and carry wider margins of error than the national and major-area numbers. “By locality, the Robredo–Tulfo tandem leads among urban residents [48 percent versus 38 percent], while Duterte–Marcos leads among rural residents [47 percent versus 40 percent]. Robredo–Tulfo also leads among both male respondents [48 percent versus 43 percent] and female respondents (42 percent versus 41 percent), although the gap among females is only one percentage point. These results suggest that Robredo–Tulfo draws comparatively stronger support from urban and male respondents, while the rural vote favors Duterte– Marcos,” Octa said. See “Survey,” A4

People’s Ville rises as new model for social housing

stroyed a total of 972 houses, as well as P2.1 billion worth of public and private infrastructure. Close to P200 million worth of crops were lost. T he NDR R MC said that P342,103,574 worth of assistance was provided to affected families. The weather bureau reported improved weather conditions on Wenesday, with Occidental Mindoro forecast to receive 50 to 100 mm of rain until Thursday.

SC junks plea to release Senate panel partial report on flood-control mess By Joel R. San Juan

ahead by 4 points in Q1 2026. With that lead tightening to 3 points in Q2 2026, the race has remained within the margin of error for two straight quarters. Octa said the survey also found that 8 percent of respondents would not vote for either tandem, while 4 percent said they did not know whom they would support and 1 percent refused to answer. The three-point gap is particularly significant in light of the survey’s reported ±3 percent margin of error. As such, the results should be viewed as an indication of current public sentiment rather than evidence of a definitive lead or a forecast of the eventual election outcome. Octa has likewise cautioned that hypothetical tandem matchups at this stage should be interpreted as an early snapshot of voter preferences. A similar warning accompanied the poll’s earlier results, when Robredo-Tulfo led Duterte-Marcos by 4 percentage points. The numbers point to a potentially competitive contest between two political groupings with distinct bases of support. Robredo, a former vice president and now mayor of Naga City, and Tulfo, a senator, have emerged as a hypothetical combination that continues to attract substantial support. The tandem previously registered 44 percent in

CONSTRUCTION of housing units at People’s Ville in Calinan, Davao City, is still going on as a few medium-rise buildings have yet to be be completed. SHFC PHOTO By Joel C. Paredes

AVAO CITY—Social housing is a basic need, not a political commodity. For low-income families still waiting for decent shelter, every new home built by the government means a step toward safer and more stable communities. In the upland district of Calinan, rows of mid-rise buildings are changing the face of socialized housing in Davao City. People’s Ville drew public attention after conflicting claims that the project should be credited to former President Rodrigo Duterte and her daughter Sara’s “accomplishment” as city mayor prior to her being

elected vice president, after a visit to the site in barangay Riverside on July 28 by President Marcos, and noted the pace of construction, with 26 buildings already completed and four more nearing completion within three years. In Davao, long considered the Duter tes’ politica l stronghold, People’s Ville is emerging as one of the country’s largest modern social housing townships under the Marcos administration. It is also being seen as a possible model for affordable mass housing in fastgrowing urban centers. The Social Housing Finance Corporation (SHFC), a key shelter agency under the Department of

DND hails Senate ratification of Sofvas with Canada, NZ

HE Department of National Defense (DND) on Wednesday hailed the Senate for its unanimous concurrence in the ratification of the Status of Visiting Forces Agreements (SOVFA) with Canada and New Zealand, aimed at enhancing defense cooperation between partner nations. On Tuesday, Senate Resolutions 548 and 549 each received 19 affirmative votes, with no negative votes or absentions. “The Department of National Defense welcomes Senate Resolutions 548 and 549, expressing its concurrence on the ratification of the Status of Visiting Forces Agreements with Canada and

New Zealand, respectively,” the DND said in a statement. The statement said the Senate’s unanimous concurrence is a testament to the significance of these agreements, which are expected to enhance interoperability, joint training, and practical cooperation among the Armed Forces (AFP) and its Canadian and New Zealand counterparts. “Canada and New Zealand have been reliable partners in upholding the rulesbased international order, cognizant of the shared security challenges that demand regional and extra-regional action. Likewise, we expect these agreements to contribute to community resilience,

Human Settlements and Urban Development, started construction in 2023. The work began a year after Marcos declared the Pambansang Pabahay Para sa Pilipino Program, or 4PH, a priority in the national shelter agenda. After Marcos took office, SHFC President and Chief Executive Officer Federico Laxa reviewed the agency’s assets and saw the potential of its property in Calinan District. SHFC later proposed the site for one of its 4PH vertical housing townships, along with projects in San Fernando, Pampanga; Tagoloan, Misamis Oriental; Tondo, Manila; and Puerto Princesa City, Palawan. On September 13, 2022, the Sangguniang Panlungsod approved t he d e v e lo p me nt p e r m it for People’s Ville. A month later, the groundbreaking ceremony was held for Phases 1 to 3. The City Planning and Development Office then issued on July 26,2023 a certification, confirming that the project site was within a residential zone. For Margo Babao, manager of SHFC’s 4PH projects in Davao City, People’s Ville marks a shift in public housing. He said the project is not only about putting roofs over families’ heads, but also about building a community where residents have safety, access and hope. See “People’s Ville,” A4

including humanitarian assistance and disaster response,” the DND said. “Together with our partners, we will continue to resist unilateral actions and expansionist ambitions seeking to reshape international law,” it stressed. The Canada Sovfa, signed in Makati City on November 2, 2025, governs the entry and departure of visiting forces, use of facilities and criminal jurisdiction. Meanwhile, the New Zealand agreement, signed in Manila on April 30, 2025, similarly sets the terms for cooperative defense and humanitarian activities involving the AFP and New Zealand Defence Force and their civilian components. It is designed to enhance joint training, infrastructure development and equipment sharing, as well as strengthen rapid-response capabilities for disasters and other emergencies. Rex Anthony Naval with PNA

Comelec: BSKE beyond Q2 2027 could disrupt 2028 poll preparations

By Mary Jade Jadormio

HE Commission on Elections (Comelec) said a further delay in the barangay and Sangguniang Kabataan elections (BSKE) beyond the second quarter of 2027 could disrupt preparations for the 2028 polls. Comelec Chairman George Erwin M. Garcia said the poll body could still handle a reset to around May 2027, but pushing the elections further would leave too little time for preparations for the 2028 polls. “If it goes beyond May 2027, it appears that we really can no longer do it because preparations for the 2028 elections may already be compromised,” Garcia said. Comelec hopes the Congress can decide by September whether the BSKE scheduled for November 2 will proceed. Garcia said lawmakers are expected to hold hearings this month on several measures seeking to move the elections, giving the poll body little room to wait as preparations continue. “If they finish the hearings in August, we hope that by around September there will already be some news for us,” he said. He clarified that the Comelec was not setting a deadline for Congress, but was flagging the point at which another postponement would begin to affect preparations for the next national elections. “If the elections really will not push through, we hope it will be very clear by September,” Garcia said. For now, Comelec is pushing ahead with preparations for the polls and is already about 90 percent to 95 percent ready. Garcia said suspending preparations while the postponement bills remain pending would be impractical since most materials and equipment could still be used even if the polls are moved. Some costs, however, would be difficult to recover, particularly overtime expenses for Comelec personnel and supplies with limited shelf lives. Ballots already printed for the November 2 elections may still be used under a new Comelec resolution if the polls are reset, while other election forms and materials may likewise be carried over. Garcia said a one-year postponement could also require at least P3 billion in additional funding as voter registration would have to reopen and the number of registered voters continues to increase.

Senate OKs bill modernizing PCG, boosting WPS defense

HE Senate has approved on final reading the proposed Revised Philippine Coast Guard law to strengthen the agency’s capabilities and organizational structure amid escalating challenges in the West Philippine Sea (WPS). Sen. Raffy Tulfo, sponsor of Senate Bill 2116, seeks to repeal Republic Act 9993 or the Philippine Coast Guard Law of 2009 to address critical organizational gaps and allow the PCG to effectively respond to modern maritime threats and changing geopolitical demands. Tulfo, chairperson of the Committee on Public Services, highlighted the frontline sacrifices of Coast Guard personnel who face harassment and water cannon incidents while asserting the country’s territorial integrity. “The Philippine Coast Guard continues to defend our sovereignty, assert our rights, and protect our territorial waters while it exercises strategic restraint to protect lives, uphold international law, and strengthen the country’s moral and legal position,” he said. Under the measure, a stronger organizational structure will be institutionalized through three core functional commands: maritime safety services, marine environmental protection, and maritime security law enforcement. It also mandates a sufficient minimum manpower requirement to effectively safeguard the country’s vast 36,000 kilometer coastline. See “Senate,” A5

Economy BusinessMirror

A4 Thursday, August 13, 2026

House panel approves oil strategic reserve measure By Jovee Marie N. Dela Cruz @joveemarie

HE House Committee on Energy has approved an unnumbered substitute bill establishing the Philippine Strategic Petroleum Reserve (PSPR) System, a government-owned petroleum reserve designed to protect the country from global supply disruptions, extreme oil price fluctuations, natural disasters, geopolitical conflicts, and other national emergencies. Party-list Rep. Arthur C. Yap of Murang Kur yente, Energ y comm it tee v ice - c ha ir person, described the measure as an important step toward strengthening national energy security and protecting Filipino consumers. The proposed reserve will be equivalent to 60 days of petroleum supply and will remain separate

from the commercial inventories maintained by private oil companies. It will serve exclusively as a national buffer and may be released only during authorized emergencies – not for routine market intervention or the administrative fixing, capping, or control of fuel prices. Under the measure approved on Tuesd ay, t he Depar tment of Energy (DOE) will lead the

implementation of the PSPR, while the Philippine National Oil Company (PNOC) or its affiliates will serve as the principal operating arm. The framework covers the acquisition, storage, maintenance, rotation, and emergency release of petroleum stocks. The bill also institutionalizes minimum inventor y requ irements for refiners and importers. These requirements will be implemented gradually and in a commercially feasible manner, allowing the DOE to consider the financial capacity and available resources of industry participants. “We need resilience without unnecessar ily disr upting the industry. The bill takes a balanced approach: the government builds a strategic reserve for emergencies, while private refiners and importers maintain their own minimum inventories under a commercially feasible framework,” Yap explained. Public-private participation in developing reserve infrastructure will also be permitted through proc u rement , publ ic- pr iv ate partnerships, and other lawful arrangements. Private storage facilities may be used for the reserve through mutual agreements, fair market-based compensation, and

commercially negotiated terms. During an authorized emergency release, petroleum suppl ies w i l l be pr ior it i z ed for critical sectors, including agriculture, healthcare, public transportation, power generation, and national defense and security, depending on the severity and regional impact of the disruption. Yap stressed that the country’s dependence on imported crude oi l a nd p e t role u m pro duc t s makes it particularly vulnerable to external shocks. “When geopolitical conflicts, natural disasters, or global market disr uptions affect petroleum supply, the consequences extend beyond fuel prices. They affect t ra n s por t at ion , a g r ic u lt u re, e l e c t r i c it y, m a nu f a c t u r i n g , livelihoods, and the cost of basic goods,” he said. The measure includes safeguards for transparency and accountability. The DOE will be required to submit an annual report to Congress detailing reserve levels, storage capacity, expenditures, acquisition strategies, and emergency releases. Stakeholder consultations must also be conducted before major changes are made to inventory requirements and operational policies.

LGUs strengthen local investment drive By Jonathan L. Mayuga @jonlmayuga

TOTAL of 1,441 local governments (LGUs) nationwide have designated Local Economic Development and Investment Promotions Officers (Ledipos), strengthening local efforts to attract investments, support businesses, generate jobs, and expand economic opportunities in communities, the Department of the Interior and Local Government (DILG) said. Ledipos have been designated in 57 provinces, 110 cities, and 1,274 towns. Meanwhile, 688 LGUs have established dedicated Local Economic Development and Investment Promotion (Ledip) Offices or Units, covering 69 provinces, 123 cities, and 496 towns.

People’s Ville… Continued from A3

“Here in People’s Ville, we are not just building houses. We are building a sustainable community with all the facilities needed within the community,” Babao said in an interview. Once completed, People’s Ville is expected to have 72 five-story residential buildings with 7,200 housing units. Government reports place the development on more than 16 hectares in Barangay Riverside, Calinan District. Babao said the project has started to form a real neighborhood. Hundreds of

Strengthening Ledip mechanisms enables LGUs to take a more active role in driving economic growth by creating conditions that encourage businesses to invest, expand, and generate employment at the local level. “Through Ledip, LGUs can create an environment where businesses grow, jobs are generated, and communities prosper,” the DILG said. A Ledip Office or Unit coordinates and implements local investment promotion policies, programs, and projects. Strong Ledip mechanisms can help LGUs attract businesses, increase local revenues, and strengthen the delivery of public services. The DILG continues to enjoin LGUs to establish a Ledip Office or Unit pursuant to DILG Memorandum Circular 2020-167 and designate a Ledipo.

Ledipos are, likewise, encouraged to join the Philippine Association of Local Investment Officers (Palio), which seeks to institutionalize a nationwide network of Ledipos. Palio provides a platform for capacity-building, peer learning, and technical collaboration among local investment promotion officers. Several LGUs are already translating their Ledip mechanisms into concrete economic initiatives. In Iloilo City, the Ledip Office organized the city’s first MSME Summit, bringing together more than 170 micro, small, and medium enterprises for learning, business networking, and access to government services. The city was also named the Most Business-Friendly LGU in the City Level 1B category by the Philippine Chamber of Com-

merce and Industry (PCCI) last year. In Taytay, Rizal, the local government partnered with the Department of Environment and Natural Resources-Ecosystems Research and Development Bureau (DENR-ERDB) under Project Tahi to map textile waste flows in the municipality’s garment industry. With the participation of the Municipal Environment and Natural Resources Office and Ledip Office, the initiative aims to support circular economy interventions and policy innovations. The DILG said it will continue working with LGUs to institutionalize and maximize Ledip mechanisms, ensuring that local economic development translates into more investments, stronger enterprises, more jobs, and better opportunities for Filipino communities.

units have been approved or occupied, and families have begun settling in. About 650 beneficiaries have reportedly started moving into completed buildings, while another 1,868 housing applications are being processed. “If all the buildings of People’s Ville are finished, we can accommodate 7,200 families. We can give them houses,” Babao said.

Geraldine del Rosario, whose company Performance Builders and Developers Corporation (PBDC) is helping develop People’s Ville Phases 1 to 3, said the project shows how government and the private sector can work together on social housing. “Our profit margins here are small. I guess all of us want to help our citizens. That’s one of the reasons we ventured into social housing,” she said. “When people visit here, it doesn’t look like socialized housing because, as you can see for yourselves, it’s more like condo living,” she added.

plans, including the possibility of a small rice-selling business once more stores open in the community. Another resident, Eveline Hifarva, said People’s Ville has given her family a steadier beginning. Her husband, Sammy Hifarva, the beneficiary of their unit, works as an assistant manager at Chowking while they raise their two children. People’s Ville does not remove the daily burden of providing for a family, Hifarva said, but it gives them a place to begin again with a stronger sense of belonging. Some beneficiaries admitted they were hesitant at first, worried that the program might turn out to be another scam. But they chose to trust the process. Now, as families move into completed buildings, they are beginning to see that decision pay off. Instead of turning basic needs like social housing into partisan issues, leaders from both the ruling coalition and the opposition should move past lip-service and political posturing. The urgency is clear. The United Nations Human Settlements Programme has placed the country’s housing backlog at 6.5 million units, with about 3.7 million informal settler families directly affected. It has also warned that the housing deficit—which the UN recognizes as a basic human rights—could surge to 22 million units by 2040 if the problem is not addressed with sustained investment and faster implementation. Rather than prioritizing politics over welfare concerns, there is an urgent need to prioritize funding and fast-tracking government housing projects.

More than housing

THE promise of People’s Ville goes beyond numbers. Babao said the township is planned around the daily needs of residents. It is expected to include parks, playgrounds, open spaces, commercial areas, markets and possibly schools within or near the community.

Keeping the community working

BABAO said sustaining the project will require cooperation among government agencies, homeowners associations and the beneficiaries themselves. Housing, he said, does not end when keys are turned over. For Geralie Diansay, one of the new residents, the promise of People’s Ville became real after years of sharing a home with her in-laws in Los Amigos. She and her husband, Jose Emanuel, a seaman, had long wanted a place of their own but knew building a house would require money they did not have. After neighbors and the homeowners association told her about the project, she attended the orientation, submitted the requirements and waited until her family moved in on June 28. The unit may be modest, Diansay said, but ownership has changed how her family sees the future. More than shelter, she said, the house has given them peace and a starting point for new

www.businessmirror.com.ph

Groups ask SC to junk Pasig court’s TRO on wage increase By Joel R. San Juan @jrsanjuan1573

HE Kampihan ng Maralita at Manggagawa (Kamanggagawa) Party-list group and several other labor groups on Wednesday filed a petition before the Supreme Court seeking to nullify the orders issued by the Regional Trial Court in Pasig City enjoining the implementation of the P85 minimum wage increase in Metro Manila. The petition, likewise, sought to stop the RTC in Navotas City from hearing another application for issuance of a status quo ante order filed by the Alliance of Philippine Fishing Federations Inc. (APFF) Likewise, the petitioners asked the SC to issue an order guiding the lower courts to outrightly reject and dismiss petitions against wage orders to prevent the proliferation of similar cases. The petition stemmed from the status quo ante order issued by the Executive Judge of the RTC in Pasig dated July 23, 2026 and the temporary restraining order (TRO) issued by Pasig RTC Branch 152 dated July 30, 2026 stopping the implementation of the P85 minimum wage hike approved by the Regional Tripartite Wages and Productivity Board in Metro Manila in two tranches. The first amounting to P60 took effect on July 25 and the remaining P25 will take effect on January 20, 2027. The SQAO and TRO were issued in response to a petition filed by construction companies Readycon Trading and Construction Corp. and R-II Builders Inc. Also assailed in the petition is the order issued by the Navotas RTC on August 3, 2026 setting APFF’s application for SQAO for clarificatory hearing. The petitioners argued that any order from the lower court enjoining a wage order is prohibited under Article 123 of the Labor Code. The said provision mandates that any party

aggrieved by the wage order by the regional board may file an appeal before the commission within 10 days which will be decided within 60 days Furthermore, the petitioners said the trial courts are prohibited from issuing TROs or any injunctive relief against wage order under Article 126oftheLaborCodewhichstates:“Nopreliminary or permanent injunction or temporary restraining order may be issued by any court, tribunal or other entity against any proceedings before the Commission or the Regional Boards.” “The issue of the propriety of the determination of minimum wage is likewise akin to a political question. The lower courts do not have the power to settle questions regarding the ratio and wisdom behind a Wage Order,” the petitioners said. “The respondent lower courts and judges have arrogated upon themselves the settlement of an issue beyond their mandates. They neither have the authority nor the necessary knowledge, expertise and experience to ascertain the propriety and wisdom of Wage Orders,” they added. The petitioners added that wage orders are social protection measures mandated by the Constitution. “Courts must exercise extreme caution and yield to social justice mandates rather than issuing ex-parte or interlocutory stays against wage increases,” the petition stated. The petitioners also pleaded to the SC to decide on the merits of the petition even if the issues they raise become moot and academic. Joining Kamanggagawa Party-List group as petitioners are the Workers and Peasants Party of the Philippines (WPP), Uni Global Union – Philippine Liaison Council (Uni-PLC), Federation of Free Workers (FFW), National Federation of Labor (NFL), Sentro ng Nagkakaisa at Progresibong Manggagawa (Sentro), Unified Filipino Service Workers (UFSW), Partido Manggagawa (PM), and the Council of Teachers and Employees in Schools, Colleges and Universities in the Philippines (Coescup).

Senator urges removal of ‘unfair’ VAT on power system loss By Butch Fernandez @butchfBM

EN. Mark A. Villar is pushing for the removal of the 12-percent Value-Added Tax (VAT) imposed on system loss charges in electricity bills, saying consumers should not be taxed for electricity they did not actually consume. Villar filed Senate Bill 2392, which seeks to exempt the system loss component charged by distribution utilities and electric cooperatives from VAT by amending Section 109 of the National Internal Revenue Code. The measure covers recoverable technical and non-technical system losses allowed by the Energy Regulatory Commission (ERC) under the Electric Power Industry Reform Act of 2001. “Simple lang ang prinsipyo natin: kung hindi naman nakonsumo ng consumer ang kuryente, hindi siya dapat singilin ng buwis para rito. Mataas na nga ang binabayaran ng ating mga kababayan sa kuryente, may systems loss pa na hindi naman nila kasalanan. Kaya dapat nating alisin agad ang mga dagdag na singil na maaari namang bawasan,” Villar, whose family used to run a power distribution utility company, said. System loss refers to electricity that is lost before reaching consumers. This includes technical losses that naturally occur as power travels through the distribution system, as well as non-technical losses caused by factors such as electricity pilferage, inaccurate metering, unmetered consumption, and human error. Allowable system losses may currently be

Survey…

Continued from A3

Octa stressed that the Visayas will remain a genuine toss-up. This, combined with Robredo–Tulfo’s erosion in NCR and gains in Balance Luzon, indicates that both Luzon and the Visayas will likely remain the primary battlegrounds shaping the national outcome through the remainder of 2026. Mindanao, by contrast, appears increasingly locked in for Duterte–Marcos and less likely to be a swing region absent a major shift in local political alliances. Another notable feature of the latest

passed on to consumers and typically account for around five to six percent of an electricity bill, according to the explanatory note of Villar’s bill. The proposal comes amid renewed efforts to bring down electricity costs in the country. The ERC has similarly recommended removing VAT on system loss charges, arguing that the tax should apply to electricity actually consumed by customers rather than power lost within the distribution system. Villar added that the proposal is particularly timely as Filipino households continue to contend with high electricity costs. He also cites alarming data that the Philippines is among the highest electricity rates in Southeast Asia as of June 2026 and as well as among the highest in Asia. “Hindi makatarungan na ang consumer na nga ang sumasagot sa system loss, papatawan pa ito ng VAT. We have to make electricity charges fairer and ensure that every peso paid by Filipino families corresponds as much as possible to the electricity and services they actually receive,” Villar stressed. The senator added that even modest reductions in monthly electricity bills can provide meaningful relief when accumulated across millions of households, particularly for low- and middleincome families whose budgets are already stretched by everyday expenses. “Sa bawat bawas sa singil sa kuryente, may dagdag na puwedeng ilaan ang pamilya para sa pagkain, pamasahe, gamot, at edukasyon. This is a practical reform that can translate directly into savings for our consumers,” Villar said.

results is the number of Filipinos who have notcommittedtoeitherhypotheticaltandem. The combined 13 percent who either rejected bothoptions,remainedundecided,orrefused to answer represent a potentially significant pool of voters whose preferences could shift as the 2028 campaign takes shape. The latest survey was conducted from July 4 to 11, 2026, among 1,200 adult Filipinos. The survey has a ±3 percent margin of error. Octa said the latest results indicate a closely fought hypothetical race, with Robredo-Tulfo maintaining a narrow numerical advantage but Duterte-Marcos remaining within striking distance.

Thursday, August 13, 2026

DPWH chief orders action on Cebu flood hotspots By Carmel Pedroza

EBU CITY—A day after the Ombudsman put Cebu’s P60-billion flood-control projects under scrutiny, Department of Public Works and Highways (DPWH) Secretary Vince Dizon went straight to flood-prone areas in the cities of Cebu and Mandaue, identifying blocked waterways and drainage bottlenecks that the agency says need immediate action. The DPWH chief visited several areas on Tuesday, Aug. 11, in Mandaue, including A.S. Fortuna Street, Orel Creek in Barangay Banilad, and A.C. Cortes Avenue, where local officials presented existing flooding problems and proposed mitigation measures. Dizon also inspected Barangay Basak Pardo, Cebu City, an area affected by severe flooding, where he said the DPWH is considering ways to redirect water from drainage systems toward the sea and the South Road Properties (SRP).

Waterways blocked

DIZON said the situation in Basak Pardo is particularly challenging because natural and traditional waterways that once carried water from the mountains of Cebu City have been obstructed by structures, including houses. As a result, water coming from the mountains is overflowing into nearby barangays, he said. “The waterways are all blocked already. So, the water overflows into the barangay, the two barangays there,” Dizon said. He said the DPWH is looking at several options to bring water from drainage systems along the national highway down toward the ocean and the reclamation area at SRP. “We have to find a way to bring the water down to the SRP because that’s where the water should flow,” he said. The agency will coordinate with the Cebu City government and barangay officials in working out a solution, Dizon added.

Mandaue projects

IN Mandaue, Dizon reviewed flood mitigation measures already being undertaken by the city, particularly along A.S. Fortuna Street near Rolling Hills. He said the interventions could improve water flow and help reduce the time it takes for floodwaters to subside during heavy rains. At Orel Creek in Barangay Banilad, officials discussed how the waterway contributes to flooding in the community. Dizon also inspected A.C. Cortes Avenue, where plans are being considered for a flood gate and pumping station that would discharge water toward the sea. The proposed system is expected to help prevent backflow and reduce flooding in the area. Other priority concerns raised during the inspection included funding for flood mitigation in the Innodata area of Barangay Subangdaku and drainage improvements at LH Prime. The Mandaue City Public Affairs Office said the national government, under the direction of President Ferdinand Marcos Jr., is working to provide funding for these projects in coordination with Presidential Assistant for the Visayas Secretary Philip Lo. “Right now, everything is top priority. I just wanted to make sure that all the priorities are being given the proper attention, especially in See “DPWH,” A6

Prosecution questions OVP’s spy spending, citing duplication of police, military work

By Jovee Marie N. Dela Cruz @joveemarie & Claudeth Mocon-Ciriaco @claudethmc3

HE House prosecution on Wednesday questioned why the Office of the Vice President (OVP) spent hundreds of millions of pesos in confidential funds on surveillance activities that appeared to duplicate work already performed by the police and military. House impeachment trial spokesperson and Lanao del Sur Rep. Zia Alonto Adiong raised the issue after Vice President Sara Duterte’s defense team presented protective intelligence reports before the Senate impeachment court. The reports were introduced during the cross-examination of Xylene Mae del Campo, supervising auditor of the Commission on Audit–Intelligence and Confidential Funds Audit Office (COA-ICFAO). “When they presented all their activities earlier, they appeared to involve only surveillance and information gathering. These are all part of regular police work. Why spend millions of pesos on them?” Adiong said during a press briefing at the Senate. The reports submitted by the OVP covered

Duterte’s official engagements during the first three quarters of 2023. They described activities such as coordinating with Philippine National Police (PNP) and Armed Forces of the Philippines (AFP) personnel and informants, consolidating intelligence, conducting threat assessments, monitoring venues, and deploying security personnel along Duterte’s routes. During cross-examination, Del Campo agreed that several activities described in the reports could be considered intelligence or surveillance work. However, she maintained COA’s finding that the documents submitted by the OVP were insufficient to prove the success of the activities and justify payments classified as rewards.

Adiong said the issue was not limited to whether the surveillance activities had actually occurred. He noted that the OVP has no direct security mandate and depends on agencies such as the PNP and AFP, which already perform those responsibilities. “You should supplement or strengthen the work that these agencies are not doing. You cannot simply duplicate the work they regularly perform,” he said. “What does that mean? You will place police officers along the roads? Those are part of their regular duties,” he added. Adiong said the reports presented by the defense appeared primarily intended to demonstrate that the confidential activities helped protect Duterte and secure her official engagements. “Based on what we heard during today’s cross-examination, it appears that only the OVP benefited from those expenditures,” he said. “What did the country obtain or gain from them? What benefit or advantage did the Filipino people receive?” Adiong said. House prosecutor Jonathan Keith Flores also pointed out that Duterte continues to attend official events despite the absence of confidential funds. According to him, this raises further questions about whether the previous expenditures were necessary. “We still see the vice president attending the same kinds of events, including treeplanting activities, Christmas parties, and other official engagements, even without confidential funds. These activities have

Groups hit DOLE wage guidelines for failing to lift stalled hikes

ABOR groups said new Department of Labor and Employment (Dole) guidelines on wage-order implementation do little to address the stalled P85 Metro Manila wage hike or speed up pay increases in other regions. Trade Union Congress of the Philippines (TUCP) said Administrative Order No. 264 largely repeats existing rules on implementation, monitoring and enforcement instead of triggering faster wage-setting action. “Workers do not need another administrative order telling the Government to implement wage orders. What workers badly need are higher wages,” TUCP said. Issued by Labor Secretary Francis N. Tolentino, AO 264 directs regional offices and wage boards to ensure that approved wage orders become effective 15 days after publication and to continuously monitor compliance.

The order also tells regional wage boards to simplify exemption procedures for covered establishments and requires tighter coordination with DOLE regional offices in enforcing wage increases. TUCP said those provisions fall short while the P85 minimum wage increase in Metro Manila remains tied up in litigation and workers outside the capital continue waiting for adjustments. It urged Tolentino, who also chairs the National Wages and Productivity Commission, to formally recognize current economic conditions as urgent and reasonable grounds for accelerated wage determination across the regions. “Workers in the provinces are not secondclass workers who have second-class stomachs, utility bills, or families to feed,”TUCP said. The group also questioned the focus on wage-order exemptions, saying DOLE should

first issue clearer guidance to prevent delays and encourage voluntary compliance while legal disputes remain unresolved. TUCP said it supports AO 264, but stressed that tighter enforcement of existing wage orders cannot substitute for higher wages. Partido Manggagawa separately said the order “resolves nothing and clarifies nothing” about the temporary restraining order blocking implementation of the P85 Metro Manila wage hike. The group added that AO 264 does not address the regionalized wage-setting system, which it described as a structural issue requiring congressional action and a new law. TUCP is calling on DOLE to declare a supervening event to speed up wage action nationwide, while Partido Manggagawa continues to press for the immediate lifting of the Pasig court’s TRO. Mary Jade Jadormio

Angara lauds Comelec for lifting expiry on teachers’ service credits

DUCATION Secretary Juan Edgardo Angara commended the Commission on Elections (Comelec) following its decision to remove the expiration period for service credits earned by public school teachers serving as the frontliners of the country’s democratic process. Under Comelec Resolution No. 11212-A, teachers may now claim and utilize their earned service credits at any time following their poll duties, repealing the previous rule that required credits to be availed of within three months. “Malaking ginhawa ito para sa ating mga guro. Hindi biro ang magsilbi sa

Senate. . . Continued from A3

The bill expands the agency’s operational authority, empowering the PCG to supervise wreck removals, prevent terrorism at sea, conclude international agreements for modern equipment, and recommend rules

SC. . . Continued from A3

However, the SC found no constitutional or legal obligation for the SBRC—to release an unfinished draft report. It clarified that a draft report is a preliminary document and only becomes part of the official Senate record once it is finalized, approved by the Committee, and submitted to the Senate plenary following

halalan—dinaranas nila ang matinding puyat, pagod, at minsan pa’y panganib, para lang maprotektahan ang boto ng bawat Pilipino...Kaya naman nararapat lamang na hindi natin ipagkait o limitahan ng strict deadlines ang kanilang karapat-dapat na pahinga at benepisyo. Nagpapasalamat tayo sa Comelec sa mabilis na pagdinig sa ating pakiusap at sa pagkilala sa sakripisyo ng ating mga guro,” Angara said, as he thanked the poll body for responding swiftly to the concerns raised by educators, such as the Alliance of Concerned Teachers (ACT), regarding the need for flexible leave entitlements.

Around 600,000 public school teachers serve as electoral board members and support personnel in every election. The new guidelines cover services rendered in National and Local Elections (NLE), Barangay and Sangguniang Kabataan Elections (BSKE), Bangsamoro Parliamentary Elections (BPE), as well as special elections, plebiscites, initiatives, referenda, and recall elections. DepEd reiterated its commitment to working alongside Comelec and other government bodies to safeguard the welfare, allowances, and rights of public school teachers during national and local electoral exercises.

for the Armed Forces (AFP) support during emergencies. To boost institutional morale, the measure addresses long-standing pay disparities by aligning the base pay of top PCG leadership, including the Admiral and Vice Admirals, with their counterpart ranks in the AFP and National Police. It also provides for the creation of the Philippine Coast Guard Academy (PCGA) and

institutes the Coast Guard Internal Affairs Service to enforce strict discipline and accountability. “The men and women of the PCG embody the best of the Filipino spirit undaunted by challenge, undeterred by danger, and united in our purpose to serve the nation; and they really fully deserve to have a stronger structural organization,” Tulfo said. Butch Fernandez

the Senate’s internal rules. “Since no law requires the Committee to release an unfinished draft report, mandamus cannot be used to compel its disclosure,” the SC said. The SC also did not give weight to the petitioners’ claim that the SBRC’s refusal to release the draft report violated their constitutional right to information. The Court stressed that the right to information is not absolute as it is subject to limitations, including the deliberative

process privilege. “This privilege protects internal discussions while a decision is still being made, allowing officials to freely exchange views without the risk that preliminary or tentative positions will be mistaken for final decisions,” the SC declared. Likewise, the SC explained that it cannot interfere with matters that fall within the discretion or with the internal procedures of Congress, as long as these are exercised within constitutional limits.

Claudeth Mocon-Ciriaco

remained successful and safe,” Flores said. “Why, then, was it necessary to spend such a large amount on activities that she continues to conduct daily without confidential funds?” he said. COA disallowed P73.287 million out of the OVP’s P125 million in confidential funds spent during the fourth quarter of 2022. The disallowed amount included P69.787 million classified as reward payments. A separate Notice of Disallowance covered the entire P375 million in confidential funds spent during the first three quarters of 2023. Together, the t wo notices cover P448.287 million in OVP confidential fund expenditures. The spending is being examined under Article I of Duterte’s impeachment trial, which concerns the alleged misuse of P612.5 million in confidential funds released to the OVP and the Department of Education while Duterte headed both agencies.

Defense

DEFENSE lawyer Kristine Ferrer frequently locked horns with the prosecution counsel Lorna Kapunan, whom she claimed “dictates” how she go through with her crossexamination during Senate impeachment trial of VP Duterte on Wednesday. The legal friction arose between Ferrer and Kapunan during the cross examination of state auditor Xylene Mae del Campo on the 15th Day of the trial as the latter insisted that the defense use the prosecution’s own

copies of Audit Observation Memorandum (AOM), issued by the Commission on Audit (COA) on the alleged misuse and misappropriation of P612.5 million in confidential funds (CF) under the Office of the Vice President and the Department of Education (DepEd). Although Ferrer admitted that the AOMs of the defense and prosecution are just the same, she refused to be forced to use the prosecution documents that were not previously authenticated by the witness. “No, your honor! The counsel cannot dictate how I will proceed with my cross- examination....Can the counsel, your honor, be reminded that I’m on cross-examination?” Ferrer asked impeachment court Presiding Officer Francis “Chiz” Escudero. Despite the objection of Kapunan, Escudero allowed Ferrer to use their AOMs. The AOMs are official documents used by the government auditing body to communicate findings, observations, or deficiencies regarding an agency’s financial transactions or fund utilization. During the impeachment trial, these documents serve as critical evidence for questioning how funds were used by the OVP and DepEd. The defense highlighted these documents, such as those dated September 14, 2023 through 2024, act as a basis for evaluating whether agency expenses were properly justified or if they require further explanation regarding their compliance with audit standards.

Yellow alert up on Mindanao grid By Manuel T. Cayon @awimailbox

AVAO CITY—The National Grid Corp. of the Philippines on Wednesday issued a yellow alert warning on the Mindanao grid over the unprogrammed maintenance work on some generation plants which suddenly conked out of operation due to various reasons. The yellow watch status was raised as of 12 August 2026, showing a slim surplus of less than 100 megawatts. It said the grid was running at available capacity of 2,779 mw with the average peak demand running at close 2,689 mw. A yellow alert is issued when the operating margin is insufficient to meet the transmission grid’s contingency requirement. It said nine plants were on forced outage as of this month. Seven of these were on forced outage since July, one plant since June, one plant since January, one plant since 2025, and one plant since 2024. Nine operating plants were running on

derated capacities, that cut off a total of 621.6 mw unavailable to the grid. The bigger contributor to the downgraded capacity was putting to maintenance outage since July 28 the Unit 2 of the GNPower Kauswagan (GNPK) coal-fired power plant located in Lanao del Norte. The entire GNPK plant has a baseload capacity of 552 mw However, the GNPK 1 was placed on emergency shutdown due to boiler tube leak in August 9. The NGCP said the “high forecast system demand” was also the reason for issuing the yellow alert. Romeo Montenegro of the Mindanao Development Authority, Mindanao’s socioeconomic planning unit, which convened the Mindanao Power Corp., told BusinessMirror that maintenance work would usually last for a month. He said some plants conked out outside of the expected maintenance program, such as the one plant of the Sarangani Power Plant, See “Yellow,” A6

₧2.15-budget cut for DAR in ‘27 NEP By Jonathan L. Mayuga @jonlmayuga

HE government is seeking a total budget of P14.69 billion next year for the operations of the Department of Agrarian Reform (DAR), the lead implementing agency of the Comprehensive Agrarian Reform Program (CARP). The proposed budget in the 2027 National Expenditure Program (NEP) submitted by the Department of Budget and Management in support of CARP is P2.15 billion lower compared to the agency’s current budget of P16.85 billion. Of the total, P6.5 billion is allotted for Personnel Services for the payment of salaries, wages, allowances, bonuses, and other compensation benefits of all employees; P6.9 billion for Maintenance and Other Operating Expenses to cover the day-to-day operational costs and routine activities; and P1.25 billion for capital outlay. By program, the proposed budget is shared by the Agrarian Reform Beneficiaries Development and Sustainability Program, which gets P5.89 billion; the Land Tenure Security Program, 4.1 billion; and the Agrarian Justice Delivery Program, P1.2 billion. Approximately over 700,000 hectares of agricultural land remain to be distributed

under CARP. The agency targets to complete the distribution of the remaining balance of 200,000 hectares next year. With next year’s budget, the government aims to increase economic opportunities for small farmers, ensure tillers’ security of tenure, promote their rights and welfare, and improve agrarian reform areas. Through DAR, the government aims to help increase crop yield by 3.5 percent through training and other support services, including access to credit and microfinance, technical enterprise and farm productivity, and physical infrastructure. The government also aims to organize and train 28 irrigators’ associations, cover more areas for upland development in partnership with the Department of Environment and Natural Resources (DENR), and provide technical and marketing assistance to 1,830 groups in partnership with the Department of Trade and Industry (DTI), and restore irrigation to cover some 2,419 hectares of farmland in remote areas. The DAR was specifically established on September 10, 1971, through Republic Act 6398 for the implementation of the agrarian reform program in the Philippines and to promote the equitable distribution, tenurial security, and ownership of agricultural land for landless farmers and farm workers.

Thursday, August 13, 2026

630K kids targeted in measles-rubella and measle drive in Central Visayas By Carmel Pedroza

EBU CITY–Some 630,000 children aged six months to five years in Central Visayas are being eyed for vaccination as health authorities and the Cebu Provincial Government intensify efforts to curb measles and rubella cases through a supplemental immunization campaign.

The Department of Health in Central Visayas (DOH 7) and the Cebu Capitol are conducting the Measles-Rubella Supplemental Immunization Activity (MR-SIA) from August 10 to 28, covering eligible children in Cebu and Bohol.

In Cebu, the campaign is being implemented as “Ligtas Tigdas 2026,” with vaccination activities extending from provincial and municipal health facilities to communities and barangays. Dr. Faith Curaraton, DOH 7 Regional

National Immunization Program medical coordinator, said the campaign is intended to give children additional protection against the two highly contagious diseases. She emphasized that the vaccines are provided at no cost and are considered safe and effective. “It is free, it is safe, it is effective. Mao ra gyud na amoang mahatag sa mga bata para ma-protektahan sila,” Curaraton said. The provincial government is supporting the effort through the mobilization of its health personnel and facilities. Gov. Pamela Baricuatro earlier issued Executive Order No. 40, establishing the Provincial Immunization Task Force to improve coordination among agencies and local government units in carrying out the vaccination program. Baricuatro said the campaign should be viewed beyond vaccination statistics, as every child immunized represents another family being protected from a preventable illness.

“Every vaccination is not simply a number added to our accomplishment. Behind that number is a child we are protecting, a parent we are giving peace of mind, and a family we are helping keep safe,” the governor said. She added that Cebu should work toward ensuring that no child becomes seriously ill from a disease that can already be prevented through vaccination. Provincial Health Officer Dr. Sheila Faciol said 16 provincial and district hospitals will be used as vaccination venues. Rural health units in the province’s cities and municipalities will, likewise, participate in the campaign. The Provincial Health Office will coordinate with DOH 7 and local health offices throughout the three-week activity to locate and vaccinate eligible children, including those in barangays. Barangay health workers are also being enlisted to help identify children within the target age group and facilitate their

registration for vaccination. The intensified campaign follows a repor ted increase in measles and rubella infections nationwide. Based on DOH figures, cases rose by 32 percent in 2025 from the previous year, while 73 percent of reported cases were among unvaccinated children. Measles and rubella, both commonly referred to as tigdas, spread easily through the air and can result in serious health complications. Severe measles infections can be fatal, while vaccination remains the primary preventive measure, as there is no specific medicine that cures measles. Children infected with measles may develop fever, red or watery eyes, coughing, colds, skin rashes, and swollen lymph nodes, or lusay. At the campaign’s regional launch at the Cebu Capitol Social Hall on August 10, eight babies were vaccinated. Baricuatro also took part in the activity by giving Vitamin A supplements to children.

Kiko seeks probe of structural integrity of flood control projects, devt of national flood management plan

MMDA pushes for ordinances on ₧5K proper garbage disposal

HIGHER penalty of P5,000 awaits violators of proper garbage disposal, the Metropolitan Manila Development Authority (MMDA) said on Wednesday. Chairman Romando Ar tes of the M e t ro p o l i t a n M a n i l a D e ve l o p m e n t Authority (MMDA) said that the fine was raised from P500 to P5,000 across Metro Manila, following the approval of the Metro Manila Council (MMC) while violators in Pateros will be paying P2,500. Artes said that they are just waiting for the ordinances from each city. “Ifo-follow up po natin ‘yan sa next Metro Manila Council meeting ,” Artes said. The MMC, composed of the 17 Metro Manila mayors, is the governing and policy-making body of the MMDA. The MMDA and Metro Manila mayors have expressed alarm after a sea of trash clogged the Redemptorist Water Channel, Brgy. Baclaran, in Parañaque City after days of massive downpour brought about by heavy monsoon rains (habagat) and Tropical Depression Crising. As of 3 p.m. of August 12, the MMDA reported that a total of 96 truckloads trash or 418.4 metric tons of waste/debris hauled at Redemptorist Water Channel. Claudeth Mocon-Ciriaco

By Butch Fernandez @butchfBM

ENATOR Francis “Kiko” Pangilinan has filed a resolution calling for a Senate investigation into the structural integrity, design, construction, implementation, and maintenance of flood control projects, while urging the development of a comprehensive national flood management plan. Proposed Senate Resolution No. 592, filed on August 11, aims to develop an in-

tegrated and evidence-based national flood management plan after heavy monsoon rains and typhoons flooded Metro Manila and nearby provinces in recent weeks. “ Ang flood control projects ay hindi lamang nasa papel at inaagiw sa mga opisina ng pamahalaan. Dapat itong ikinakasa nang wasto, nai-implementa nang tama, at napoproteksyunan ang mga Pilipino ,” he said. “ At hindi rin sapat na may proyektong nakikita. Ang tanong ay kung tama ba ang proyekto? Tama ba ang disenyo? Maayos

Family living wage enters talks as labor group presses reforms By Mary Jade Jadormio

FAMILY living wage has moved into discussions between labor groups and the Department of Labor and Employment (DOLE) as the Trade Union Congress of the Philippines (TUCP) pressed for a clearer benchmark in determining workers’ pay. During a meeting with Labor Secretary Francis N. Tolentino, TUCP proposed discussing the guiding principles for determining a family living wage, alongside other long-running labor concerns. “We are with you in that aspect; that is part of the Constitution, the terminology of living wage,” Tolentino said in response. TUCP also raised freedom of association, security of tenure, certification elections, maritime voluntary arbitration and collective bargaining agreements during the talks. Among the measures it sought support for were House bills that would strengthen union formation and rationalize government intervention in labor disputes.

Other proposals would remove dismissal and imprisonment as penalties for workers who participate in strikes. Labor representatives also brought up legislation needed to implement International Labour Organization (ILO) Convention No. 190, which addresses violence and harassment in the world of work. Talks, likewise, covered ILO Convention No. 188 on work in fishing and Convention No. 193 on decent work in the platform economy, both of which Tolentino supported. Concerns involving workers in the electric cooperative and sugar industries were also discussed, with labor officials providing updates on issues raised by TUCP. Tolentino told the group that the department would remain open to criticism and concerns from workers. “If we make mistakes, criticize us. I’ve been trying to be very transparent. If you have any concerns, just let me know,” he said.

ba ang pagkakagawa at bahagi ba ito ng isang malinaw na plano para sa buong lugar? Kung kanya-kanya ang proyekto at walang kabuuang direksyon, baka imbes na solusyon, lalo pang lumala ang problema ,” he added. In the resolution, the lawmaker pointed out that it’s not enough that the government is implementing various flood control projects, but that these projects must be planned and implemented with an integrated national flood management master plan in mind.

DPWH. . . Continued from A5

Cebu City, Mandaue and other places, ay talagang ma-aksyonan agad ,” Dizon said.

Ombudsman investigation

THE inspection came a day after Ombudsman Jesus Crispin Remulla said their office would look into roughly P60 billion worth of flood control projects in Cebu implemented over a six-year period. Asked about the investigation, Dizon said the DPWH has been cooperating with the Ombudsman and that documents have already been submitted. “The investigations are all ongoing and all the documents have already been submitted to the Ombudsman. So let us wait for the Ombudsman for the appropriate action,” he said. Dizon also urged the public to allow the Ombudsman, DOJ and NBI to perform their respective roles in investigating possible irregularities. “It is the role of the Ombudsman to prosecute, investigate and prosecute. That is also the role of the NBI and the DOJ. Let us allow them to do their jobs,” he said. He said the DPWH, meanwhile, would focus on addressing the flooding problems

“ Again, walang kwenta ang mga flood control projects kung iba-iba ang sistema, proseso, at disenyo. Kailangan well-coordinated yan sa bawat bayan, munisipalidad, at siyudad. Hindi naman nalilimitahan ang tubig. Pupunta ’yan kung saan may espasyo, kaya dapat ang ating flood control projects ay magkakarugtong ,” he explained. Pangilinan also stressed in the resolution the need to strengthen transparency and accountability in the use of public funds for flood control projects, acknowledging

“reports of alleged ghost, substandard, redundant, or improperly implemented” flood control projects that are the subject of ongoing investigations. The resolution seeks the development and adoption of an evidence-based National Flood Management Plan that will “provide a common framework for national and local flood control projects, river basin and watershed management, drainage and land use planning and other measures necessary to reduce flood risk and protect affected communities.”

that communities have been experiencing for years. “Our main job is to fix all of these problems that as Mayor John Key said is decades na ito . So we will have to just fix them as fast as we can to help our people hopefully alleviate the flooding that has been happening for so many years,” Dizon said.

on their own. “This has been happening, time immemorial ba , decades na. Pero now we are finally seeing na m a-implement na with the collaboration between local and national government, kasi di din naman talaga kaya kung kami lang, ” Ouano said. The city government also called on residents to cooperate by properly disposing of waste and helping keep waterways clear. Dizon, for his part, assured Cebu officials that the national government would continue working with local governments on flood mitigation. “ Walang iwanan ito . We are always here,” he said. Dizon said he has visited Cebu repeatedly since becoming DPWH secretary, adding that the agency would continue to work with the province’s local government units. “We will always be here for Cebu and our Kababayans,” he said. Joining Dizon during the Mandaue inspection were Ouano, Cebu Gov. Pamela Baricuatro, Congresswoman Emmarie “Lolypop” Ouano-Dizon, City Administrator Atty. Sally Malig-on Jr., Executive Secretary, Atty. Riczen Gingoyon and representatives from the DPWH Cebu 6th District Engineering Office, City Engineer’s Office, City Planning and Development Office, and Barangay Banilad.

No quick fix

DIZON cautioned that solving Cebu’s flooding problems would not happen overnight. “There is no overnight solution to flooding. We have to all understand that,” he said. He pointed to the lack of dredging over the past decade as one of the issues that has contributed to the need for catch-up work. “There has been practically no dredging since 10 years ago,” Dizon said. He added that the government has begun addressing these longstanding concerns and that flood mitigation measures are already producing results in some parts of Metro Manila and other areas. However, he said communities would have to wait for the full impact of the projects to be felt. ‘We will always be here’ Mandaue Mayor Thadeo “Jonkie” O uano welcomed the DPWH chief ’s visit, saying the city has been dealing with flooding for decades and that local governments cannot solve the problem

Landslide. . . Continued from A3

The PNP earlier reported 26 deaths from weather-related incidents as of Tuesday afternoon. These included 25 civilians and one police officer. Nartatez said police presence would remain in affected communities as local governments move evacuees toward a safe return and resume essential services. “The PNP will continue to work closely with local governments and other agencies to restore peace and order, secure affected communities, assist in relief and recovery operations, and ensure that our people can safely return to their homes,” he said. Nartatez also directed local police commanders to coordinate with local government units on the safe return of evacuees and the restoration of normal community activities. Police units were likewise tasked to maintain security and visibility during the transition from emergency response to recovery. “I commend our police personnel who continue to serve despite some of them being affected themselves. I remind them to remain committed, compassionate and responsive to the needs of our communities,” the PNP chief said. With Rex Anthony Naval

Yellow. . . Continued from A5

after it sustained damage following the June 8 occurrence of the magnitude 7.8 earthquake offshore of Maasim town, Sarangani. “We are watching closely the developments, although we are still exporting some of our excess capacity to the Visayas and Luzon,” he said.

The World

www.businessmirror.com.ph

Sara. . . Continued from B8

He explained that the panel was focusing on its strongest and most important evidence. Although every questioned record could be presented, doing so would greatly lengthen the proceedings.

‘Intelligence work’

CLASSIFYING activities as intelligence or surveillance work does not automatically prove that confidential-fund expenses complied with audit rules, House prosecution counsel Lorna Kapunan said on Wednesday. During the cross-examination of COA witness Xylene Mae del Campo, defense counsel Kristine Ferrer presented protective intelligence operations reports submitted by the OVP in response to audit observations for the first three quarters of 2023. The reports listed coordination with police and military intelligence personnel, threat assessments, venue surveillance, participant profiling, and the deployment of informants along the vice president’s routes. Del Campo agreed that several activities could be considered intelligence gathering, surveillance, or confidential work. Kapunan objected, stressing that the case concerned confidential funds, not intelligence funds. She argued that classifying an activity as surveillance does not prove that the related payment had the documents required for its reported purpose. Del Campo said the protective intelligence reports and certifications did not sufficiently prove the success required to support the questioned reward payments. The defense argued that surveillance could be successful if it prevented an incident. Kapunan called the question hypothetical, but Presiding Officer Francis Escudero allowed it because the reports stated that no untoward incident had occurred. Del Campo then distinguished payments for information, which were not disallowed, from reward payments, which required proof of success. Escudero later reminded both lawyers to remain respectful after the exchange became tense. Del Campo testified as part of the prosecution’s evidence in the impeachment case involving Duterte’s alleged misuse of confidential funds.

Supporting proof

DEL Campo clarified that payments of rewards and purchases of information were treated differently in the audit of the OVP’s confidential funds. The issue arose when the defense questioned why reports stating that no untoward incident occurred were not accepted as sufficient proof for reward payments. Escudero separated the two categories. Del Campo confirmed that proof of success was required for reward payments but not

Garbage. . . Continued from B8

BAN Toxics calls for their formalization and integration into local solid waste management systems, with access to social and health benefits, training, support, proper facilities and equipment, and safe and decent working conditions. “RA 9003 is crucial but poorly implemented, and its shortcomings are evident, particularly during floods. With plastics comprising a significant share of the country’s generated waste, improper waste management can lead to toxic contamination, posing hidden and long-term risks to communities and the environment,” Dizon said. Based on the latest DENR report, the Philippines’ estimated waste generation reached 60.76 thousand tons per day in 2025. DENR data from 2024 also showed that the country generated approximately 61,000 metric tons of solid waste daily, with up to 24 percent consisting of plastic waste, primarily from consumer goods packaging, cutlery, and shopping bags.

Plastic dependence

BAN Toxics calls for the reduction of plastic use, particularly single-use plastics. The national government and LGUs must lead efforts to reduce dependence on disposable plastics and support accessible, affordable, and environmentally sound alternative packaging systems, Dizon said. As of 2019, about 30 percent of LGUs had some form of policy regulating the

for purchases of information. She also said the questioned purchases of information had not been disallowed. Del Campo explained that, in evaluating reward payments, she looked for evidence that a person identified as a probable threat had been apprehended. The defense argued that confidential operations may also succeed by preventing harm, even when no crime occurs and no suspect is arrested. Escudero asked whether Joint Circular 2015-01 expressly required an arrest before a reward payment could be considered successful. Del Campo acknowledged that it did not. The circular only requires proof that the information gathering or surveillance was successful. She said the arrest requirement reflected her professional judgment and evaluation of the documents. In other audits she had handled, reward payments were supported by records showing that individuals had been apprehended. Escudero emphasized that although the circular requires proof of success, it does not specifically state that an arrest is necessary. Del Campo’s testimony forms part of the House prosecution panel’s evidence in the impeachment case against Duterte.

No shield

TOLOSA said a credit notice previously issued for DepEd’s confidential funds does not permanently prevent state auditors from reopening the transactions if evidence of fraud, collusion, or new material information later emerges. Tolosa addressed the issue after questions arose about challenging transactions that had already passed through the audit process. Del Campo testified that a settled account may be reopened within three years of settlement if it is affected by fraud or collusion, or if new material evidence is discovered during that period. The DepEd transactions are part of the impeachment charge alleging the misuse and fraudulent liquidation of confidential funds handled by Duterte as Education secretary. Tolosa said important information surfaced only after the credit notice had been issued. During a 2024 House hearing, DepEd Special Disbursing Officer Edward Fajarda admitted under oath that he had transferred the confidential funds to Col. Dennis Nolasco. Joint circular rules prohibit transferring cash advances from one accountable officer to another. “The admission was made after the credit notice had already been issued, so it could not have been considered at the time,” Tolosa explained. He emphasized that a credit notice does not block further audit action when evidence of fraud or other significant new information emerges. However, the prosecution left any decision on further COA action to the audit witnesses. use of single-use plastics, according to the National Solid Waste Management Commission (NSWMC). This leaves over 70 percent of LGUs without localized policies to stop plastic pollution at the source. There is currently no comprehensive nationwide legislative ban on specific single-use plastic products, leaving local government action fragmented and insufficient to address the scale of plastic pollution. “These gaps in waste management and the recurring impacts of flooding also point to the need for greater accountability in the allocation of public resources and implementation of flood-control projects,” Dizon added. “Any allegations of corruption, irregularities, or misuse of funds in flood-control projects must be investigated transparently, and those responsible must be held accountable. Public funds intended for flood protection must reach the communities they are meant to protect,” Dizon said. BAN Toxics also rejected the growing promotion of waste-to-energy (WTE) technologies as a purported solution to the country’s waste crisis, a direction further reinforced by President Marcos’ State of the Nation Address (Sona). “Framed as a renewable energy source, waste-to-energy is a false solution to address the root causes of waste generation. Burning waste contributes to greenhouse gas emissions and can release hazardous pollutants,” Dizon explained. As an alternative, BAN Toxics calls for institutionalizing zero-waste approaches to address the waste crisis, centered on waste reduction and plastic elimination at the source.

Thursday, August 13, 2026

Long-Covid study: Gut immune system struggling to clear virus By Jason Gale

Bloomberg News

HE immune systems of people with long Covid may remain locked in a prolonged battle with remnants of the coronavirus, producing inflammation while failing to effectively eliminate its source, new research suggests.

Scientists at the University of California, San Francisco, United States of America, found extensive immune abnormalities in intestinal tissue taken from people with long Covid, including signs that some of the body’s first-line defenses remained activated months or years after infection. At the same time, processes needed to recognize and destroy virus-containing cells were weakened. The findings, released in a preprint last Monday ahead of peer review, suggest an “uncoordinated immune response” in which inflammatory activity continues while mechanisms needed to eliminate its source are impaired, wrote researchers led by Michael Peluso and Timothy Henrich. While the study can’t establish that

lingering virus causes the immune abnormalities or long Covid itself, the findings could nonetheless influence the search for treatments. Antiviral drugs alone haven’t shown clear benefits in trials of broadly defined long Covid, and the researchers said treatment may ultimately need to both target lingering virus and restore the immune system’s ability to eliminate cells harboring it. Understanding what drives long Covid has become one of the most pressing unanswered questions left by the pandemic. Millions of people worldwide have experienced lasting symptoms after Covid-19, including fatigue, problems with memory and concentration, and worsening illness after physical activity. The condition is also

part of a broader and still poorly understood group of chronic illnesses that can follow infections, meaning insights into its biology could have implications well beyond Covid. The UCSF researchers studied samples of the lower intestine from 44 people with long Covid and 13 people who had recovered completely. The biopsies were collected a median of almost two years after participants’ first known SARSCoV-2 infection. Researchers examined the samples using several methods to search for the virus and measure how thousands of genes and different types of immune cells were behaving. Evidence of persistent SARS-CoV-2 was found in the intestinal tissue of 12—or 27 percent—of the people with long Covid, compared with one of the 13 recovered participants. The difference wasn’t statistically significant, and the researchers cautioned that detecting viral genetic material doesn’t establish that intact, infectious virus remains in the body. Still, they found both single-stranded and double-stranded viral RNA in cells lining the intestine. Because those cells normally turn over within days, the finding suggests ongoing viral activity or that the cells are repeatedly being exposed to virus from elsewhere in the body, the researchers said. The immune abnormalities were much more pronounced in intestinal tissue than in blood, suggesting blood tests may miss important biological changes occurring inside tissues.

BATTLE SWINGS. A person sits on a swing looking out towards ships anchored in the Strait of Hormuz off the coast of Bandar Abbas, Iran, on Monday, August 10, 2026. Tehran saw weeks of bitter public infighting over the conduct of the war, with calls from hardliners for President Masoud Pezeshkian to resign over his support for Iran's beleaguered peace deal with the US, and days after the under-pressure president said in a lengthy TV interview that he isn’t going to budge. Pezeshkian’s statement over state TV last week that he found it “very difficult” to reach the country’s Supreme Leader sparked fresh speculation about the whereabouts of Mojtaba Khamenei who hasn’t been seen in public since taking over as the country’s ultimate authority in March. GETTY IMAGES/GETTY IMAGES EUROPE

Marcos. . . Continued from B8

Marcos said the situation highlights the need to address improper waste disposal alongside dredging and other flood-control measures. The administration has been conducting dredging operations in waterways, canals, and esteros under its broader Oplan Kontra Baha, aimed at improving water flow and reducing flooding. However, Marcos said newly cleared waterways could again become clogged if garbage continues to enter the drainage system. He reiterated his push for a waste-toenergy program as a longer-term solution to the country’s growing waste problem and to reduce the volume of garbage being brought to landfills.

Waste to energy

THE technical aspects of the waste-to-energy program, he said, had already been completed, while the government is working on the system for involving local governments (LGU), determining plant locations, and purchasing electricity generated from waste. Marcos said the government is already moving toward an auction for the electricity to be generated by waste-to-energy facilities, with results potentially seen within a year to a year-and-a-half. “In terms of the technical side that’s done, now what we are trying to do is to put the system together. How it will be, what is the relationship of the LGUs to the waste to the energy plant, where the locations are, what group is actually going to come in,” Marcos said. “We have already identified, like I said... we are already auctioning, maybe in couple of months, on how much energy will be sold to the Department of Energy and at what rate. It’s a new system that we have to start putting in place.” He said the government would continue addressing flooding through multiple

measures, noting that solutions would vary depending on the conditions in each area.

Anti-littering ordinance

AMID growing concerns over Metro Manila’s garbage crisis, a member of the House of Representatives Committee on Metro Manila Development on Wednesday urged LGUs in the capital region to adopt a uniform anti-littering ordinance as part of a coordinated, long-term response to improper waste disposal. Las Piñas Rep. Mark Anthony Santos said inconsistent policies and enforcement among cities allow littering to persist, contributing to clogged drainage systems, polluted waterways, flooding, and public health risks. “Garbage does not recognize city boundaries. What is thrown in one area can end up in another city’s drainage system, creek, or waterway. That is why our response must also be coordinated across Metro Manila,” Santos added. The proposal follows the warning of Dizon that the country is facing a growing “garbage crisis” requiring a comprehensive and long-term solution. Dizon has emphasized that while government agencies can readily conduct clean-up operations, periodic drives and other stopgap measures cannot address the root causes of the problem. He has called for greater discipline among LGUs and the public, along with an overall master plan for proper waste management. Santos said a uniform anti-littering ordinance would support such a master plan by establishing common rules, clearly defining prohibited acts, and standardizing penalties across Metro Manila. “Metro Manila is one interconnected community. People regularly travel from one city to another, so our anti-littering policies must be clear and consistent. There should be no safe haven for those who recklessly throw garbage on streets, sidewalks, waterways, and other public spaces,” he said.

Briefs IEA sees wider oil supply deficit

GLOBAL oil inventories will tumble this quarter at more than twice the rate previously estimated as the Iran war flares again, even as the hit to demand from high prices deepens, the International Energy Agency said. Oil markets face a shortfall of 1.8 million barrels a day as “renewed hostilities and maritime disruptions” undermine a production recovery, the IEA said in its monthly report. For 2026 as a whole, the deficit will likely be the widest in five years. Stockpiles are tightening again even as elevated fuel prices prompt the agency to deepen estimates for this year’s decline in global oil demand by almost 50 percent to 1.6 million barrels a day. That’s the biggest slump in annual average terms since the 2020 Covid pandemic. Bloomberg News

Russia turns to India for gasoline

RUSSIA has started importing gasoline from as far away as India, as Ukrainian attacks on its refineries trigger severe local shortages. It’s the first time Moscow has imported the motor fuel from the South Asian nation, according to Kpler data, with the lengthy journey required an indication of how dire the crunch is becoming. The first shipment was received on August 5, and more may be on the way, according to Kpler. Indian processor Nayara Energy Ltd.—backed by Rosneft PJSC, Russia’s top oil producer—has emerged as a source of the fuel, which is being moved on a chain of Russian-linked tankers via transfers off Egypt. Bloomberg News

Heirs of Indonesia’s richest family inherit $3B each

THE children of Michael Bambang Hartono received shares worth at least $2.93 billion in the family’s holding company, marking one of Asia’s biggest wealth transfers in recent years. Hartono died in March at the age of 86. He and his brother Robert Budi Hartono owned just over half of Bank Central Asia, Indonesia’s largest lender, and other businesses through PT Dwimuria Investama Andalan. Michael’s 49-percent stake in Dwimuria has been split equally among his four heirs, according to a government filing. The inheritance is the latest example of how fortunes long held by Asia’s richest tycoons are being handed down to the next generation. Bloomberg News Under Republic Act 9003, or the Ecological Solid Waste Management Act, littering and the improper disposal or scattering of garbage in public places—including roads, sidewalks, canals, waterways and parks—is prohibited. Existing Metropolitan Manila Development Authority regulations impose a P500 administrative fine or one day of community service for certain anti-littering violations. However, higher penalties or other sanctions may apply depending on the offense and the ordinance enforced by each LGU. Santos proposed that Metro Manila LGUs jointly craft an ordinance providing standardized fines, community service, and other sanctions for violators. Jovee Marie N. dela Cruz, Samuel P. Medenilla with PNA

Myanmar ramps up civilian attacks—UN

Myanmar’s military is increasingly using drones, motorized paragliders and other low-cost aircraft to attack civilians, United Nations investigators said, even as the country’s rulers seek to project stability and gain legitimacy after a military-run election. The report by the UN-established Independent Investigative Mechanism for Myanmar released Tuesday said attacks continued to rise from July last year, with a notable escalation ahead of elections held in December and January. The vote helped elevate then-junta chief Min Aung Hlaing to the presidency in April after his military seized power in a 2021 coup. Bloomberg News

Editor: Jennifer A. Ng • www.businessmirror.com.ph

Thursday, August 13, 2026

PHL allows Irish plants to sell pork, poultry By Ada Pelonia @adapelonia

HE Philippines may now purchase pork, poultry, and beef from Ireland after the government approved the accreditation of its meat plants. Agriculture Secretary Francisco Tiu Laurel Jr. signed Department Circular (DC) 35, which granted system accreditation to foreign meat establishments (FMEs) in Ireland, allowing the European nation to export beef, pork, and poultry meat (chicken and duck) to the Philippines. DC 35 stated that 21 FMEs in Ireland audited by the inspection team were compliant with the country’s quarantine and meat inspection system procedures.

The inspection mission was conducted to assess Ireland’s veterinary services, animal health, and food safety control. “After thorough evaluation, the application of the Government of Ireland for system accreditation to export beef, pork, and poultry meat (chicken and duck) into the Philippines is satisfactory.” The Philippines may import chilled and frozen meat, edible offal, and fats of swine and bovine animals, frozen meat

PHOTO FROM WWW.IBEC.IE

and edible offal of chicken, particularly wings, thighs, and livers, as well as frozen fatty livers of ducks from Ireland. The circular stated that Ireland’s system accreditation is valid for three years following

its effectivity. Under the rules, the Department of Agriculture (DA) grants two types of accreditations to export meat and meat products to the Philippines—a system-wide or

an individual accreditation. Individual accreditation only allows specific companies to ship meat products to the Philippines, while a systemwide accreditation permits an exporting nation’s locally accredited FMEs to export meat goods to the country. Foreign meat exporters should secure the accreditation of their FMEs to ship meat and meat products into the country. The accreditation would ensure that inbound shipments of farm products are safe for human consumption and do not pose a threat to the domestic livestock and poultry industry. Last December, the DA issued Special Order 2015, which authorized the conduct of an inspection mission for possible accreditation of foreign meat establishments (FMEs) in Ireland. A designated DA Inspection Mission (DAIM) team conducted an on-site inspection and validation of documents of

the importing country. The DAIM team for the inspection mission in Ireland consisted of technical experts in food safety program from the National Meat Inspection Service and technical experts on animal and veterinary public health from the Bureau of Animal Industry. Latest government data showed that the Philippines’s meat imports rose by 12 percent to 872,274 metric tons (MT) in the first half, from the 778,100 MT recorded in the same period last year. Pork shipments continued to account for the lion’s share of meat imports in the reference period, with purchases up by 11 percent to 455,381 MT, from the previous year’s 409,693 MT. Chicken imports jumped by nearly 14 percent to 291,497 MT during the period, from 255,844 MT a year ago, while shipments of beef inched up by 4.5 percent to 95,769 MT from the previous 91,649 MT.

Veggie meat, biscuits boost Monde Nissin core income San Miguel opens more Backyard Bukid sites By VG Cabuag @Villygc

ONDE Nissin Corp. on Wednesday said its core income rose by 16 percent to P5.49 billion in the first half from the previous year’s P4.73 billion, on higher sales of its biscuits and other emerging products. Net sales for the period went up by 7 percent to P44.29 billion from last year’s P41.45 billion. Its branded food group in Asia Pacific grew 6 percent to P36.91 billion from the previous P34.86 billion, while its veggie meat

business jumped 12 percent to P7.38 billion from the previous P6.59 billion. Henry Soesanto, the company’s CEO, said its branded business delivered modest growth in the second quarter, led by biscuits and its strategic growth categories. “Disciplined pricing, cost management, and hedging supported strong year-onyear gross margin expansion. Sequentially, gross margin moderated by 203 basis points reflecting the normalization of contra revenue and elevated manufacturing costs,

particularly higher energy costs arising from the Middle East crisis,” Soesanto said. “Despite these external pressures and higher operating logistics expenses resulting from the crisis, we delivered year-on-year earnings growth, further supported by significant benefits from our US dollar hedge position.” He said the company is encouraged by the vegetable protein business’ continued progress in the second quarter, where it saw revenue inch up by 2.7 percent on a constantcurrency basis driven by growth

in the snacking segment. “We remain mindful of ongoing input cost pressures and will continue to manage the business prudently, while remaining sensitive to our consumers should further pricing adjustments become necessary.” Last May, the company said it would spend some P6.48 billion this year, 37 percent higher than the previous P4.71 billion. Some P5.5 billion will be spent on its Asia-Pacific Branded Food and Beverage segment while its meat alternative business was allotted P988 million.

Fermented cacao beans from Davao shipped to NZ

HE Philippines has expanded its export portfolio with the first commercial shipment of fermented cacao beans to New Zealand. The Department of Agriculture (DA) led the sendoff of the 6,000-kilo shipment, which was sourced directly from Kapalong, Davao del Norte. It is expected to reach the Port of Lyttelton in mid-August. Agriculture Secretary Francisco Tiu Laurel Jr. said expanding agricultural exports can create a larger market for farmers while helping narrow the country’s persistent agricultural trade deficit.

“Every new export market we open gives our farmers another opportunity to earn more from what they produce, while bringing more foreign exchange into the country,” he said. “We need to keep building these markets because stronger agricultural exports mean better incomes for farmers and a stronger contribution from agriculture to the broader economy.” The shipment was facilitated by Pemline Export Trading Co. in partnership with the Kapalong Cooperative. Prior to its departure, DA officials and Plant Quarantine Service teams inspected the

consignment and verified compliance with New Zealand’s import requirements. The agency said the beans underwent a five-day, or 120hour, aluminum phosphide fumigation process, followed by the required aeration period before completing documentary and regulatory requirements. “ This is a clear testament that our targeted inter ventions to empower local producers and modernize highvalue export crop supply chains are yielding tangible international success,” Agriculture Undersecretar y

Philip Young said. The DA said the shipment advances its export drive under Department Order (DO) 12 through its High-Value Export Crops and Agri-Fishery Export Development and Promotion unit. For cacao farmers, the DA noted that the bigger prize is not simply one shipment, but a foothold in a high-standard market that could lead to repeat orders. It added that for the government, this is another step toward making Philippine agriculture more exportoriented, competitive, and capable of narrowing the trade gap. Ada Pelonia

AN Miguel Corp. (SMC) has expanded its Backyard Bukid initiative to nine sites nationwide as part of efforts to provide supplemental livelihoods for local communities. In early 2026, San Miguel Foods (SMF) launched Backyard Bukid at the Soyung Elementary School in Echague, Isabela, and at Antipolo Elementary School in Albuera, Leyte. The two new farming sites added to the seven active SMC Backyard Bukid farms. These are situated at the SMC Head Office Complex in Mandaluyong City; the San Miguel Yamamura Packaging Corp. facility in Gen. Trias, Cavite; the Better World Smokey Mountain Community Center in Tondo, Manila; and the SMF-led project sites in Barangay Sagurong in Pili, Camarines Sur; Also included are Barangay Guihing in Hagonoy, Davao del Sur; Barangay Impalutao, Impasug-ong, Bukidnon; and Darong Marcos P. Saez Elementary School in Santa Cruz, Davao del Sur. To date, these SMC Backyard Bukid farms have produced over 4,300 kilos of assorted crops and generated additional income for 155 active employees and community farmers. Currently, SMC said their Backyard Bukid farmers practice organic and sustainable farming using natural alternatives to chemical pesticides and synthetic fertilizers. This includes applying fermented plant-based sprays, vermicast, and organic fertilizers to maintain healthy crops while protecting the environment.

They also learned how to produce their own organic inputs, including fermented plant and fruit juices (FPJ/ FFJ), fish amino acid (FAA), and oriental herbal nutrients (OHN). Meanwhile, the firm said San Miguel Foods is set to develop additional Backyard Bukid sites located in public elementary schools in Bulacan, Iloilo, and Misamis Oriental. Its San Miguel Properties has also set up its own community-managed farm in Barangay Tagabuli, Santa Cruz, Davao del Sur to be a fully-fledged SMC Backyard Bukid before yearend. “Our Backyard Bukids are a showcase of the initiative, teamwork, and resilience of our employees and community volunteers, which San Miguel is proud to support and encourage through the years,” SMC Chairman and CEO Ramon Ang said in a statement. “We will continue to replicate these farms in other areas to provide healthier food options and additional income for families, and turn idle land into a shared space for learning and sustainable livelihood—and a stronger community in the process.” The Backyard Bukid program was launched in 2020 at the height of the Covid-19 pandemic to provide food for utility and security personnel stranded by lockdowns at San Miguel’s headquarters in Mandaluyong City. The program has evolved into a community-based organic farming initiative implemented in several areas through San Miguel Foundation Inc. Ada Pelonia

Indonesia’s forest fires surge as El Niño raises drought risks

NDONESIA is battling a surge in forest fires as a developing El Niño threatens to bring even drier weather and intensify risks at the peak of its dry season. The Forestry Ministry’s firemonitoring platform SiPongi has recorded 1,612 hotspots so far in this month, up sharply from 758 in all of July. It’s already the highest August number in three years, and outbreaks typically peak in September. However, it is still well below the August levels recorded during the severe fire seasons of 2015, 2019

and 2023. Hotter temperatures and extended droughts globally, often amplified by increasingly severe El Niño weather patterns, are making blazes more intense and harder to contain. Major fires have already burned this year across Canada and the US, as well as France, Spain, Greece and Australia. In addition to the devastation wrought, severe fires in Indonesia threaten to blanket neighboring countries in thick clouds of smoke. The Association of Southeast Asian Nations’s weather-

monitoring center is warning of an increasing risk of transboundary haze as hotspot numbers spike. Indonesia is entering its most dangerous period for fires, with the dry season expected to peak between now and September. A prolonged drought and intense heat in the country is directly linked to the strong and developing El Niño, which is also threatening crop losses and water shortages, according to the Australian Bureau of Meteorology’s latest tropical climate update. The dry conditions are forecast to last

into early 2027 across large swathes of Indonesia, the bureau said. The damage is already mounting. More than 107,000 hectares burned across the country from January through June, up 120 percent from the same period in 2019, according to Indonesian government data. About 54 percent of that was in designated forest area. The major palm-producing provinces of West Kalimantan and Riau, along with East Nusa Tenggara, recorded the largest burned areas, together accounting for about half the national total. A separate blaze

around Mount Bromo in East Java forced the closure of the popular tourist destination. The government is stepping up efforts to contain the fires, focusing on six priority provinces in the peat-rich regions of Sumatra and Kalimantan, where blazes can burn underground for weeks and produce thick haze, according to the National Disaster Mitigation Agency, known as BNPB. About 48,000 personnel have been deployed to fight blazes and cool burned areas to prevent flare-ups across Riau, South Sumatra, Central

Kalimantan and Jambi, with five helicopters conducting water-bombing operations, BNPB said in a statement late Monday. Another 21 waterbombing helicopters, 12 patrol aircraft, and two cloud-seeding planes are on standby, and a further eight water-bombing helicopters are due to be added, BNPB said. “On peat land in particular, ground crews still need to sweep the area and extinguish remaining fires to ensure the fire is completely out,” Suharyanto, head of the agency, said in the statement. Bloomberg News

www.businessmirror.com.ph

2nd Front Page BusinessMirror

D.A. TAPS AI-DRIVEN DRONES TO HIKE FARM PRODUCTIVITY

By Ada Pelonia

HE Department of Agriculture (DA) is exploring the use of artificial intelligencedriven drones to improve farm productivity and bolster the country’s food security. The agency explained that the technology combines real-time environmental data gathered by drones with historical weather patterns and machine-learning models to predict pest infestations and other crop threats. The initiative, introduced by Japanese technology provider E-SupportLink (ESL), could change how the Philippines manages agricultural risks, according to the DA. The DA said ESL has started pilot testing its AI-powered aerial imaging technology on three banana farms in Davao del Norte and Davao de Oro after signing a memorandum of understanding (MOU) with the Regional Field Office 11. The system uses drones, aerial photography, and AI analysis to monitor crop growth, count plants, forecast production, optimize farm inputs, and detect early signs of disease. ESL said the Davao pilot has also drawn interest from private banana producers looking to use aerial data for production planning and disease monitoring. For Agriculture Secretary Francisco Tiu Laurel Jr., however, the

technology’s broader impact will hinge on whether it becomes affordable and accessible to farmers. “The technology is promising, but we need to make sure it becomes affordable and accessible not only to large companies but, more importantly, to small farmers,” Tiu Laurel said. He added that the DA is also examining potential applications in sugarcane and coconut, two major export crops facing production challenges. “We want to see how this can help us address urgent concerns in sugar and coconut. If we can detect problems earlier, we can make better decisions and protect farmers’ income.” Under the proposed cooperation, the DA said ESL will help train drone operators, establish aerial imaging systems, and provide AI-based productivity assessments. Furthermore, the agency noted that it is studying possible government support, including training assistance through the Agricultural Training Institute (ATI) and potential funding mechanisms. “The technology could help lay the groundwork for a more datadriven farming system, where decisions are guided by timely, precise information rather than delayed assessments. That could help farmers manage disease risks, climate pressures, input use, and production uncertainties more efficiently.”

Thursday, August 13, 2026

‘Beyond mere catchup in H2, spur private investments’ By Andrea E. San Juan

HE government’s economic strategy needs to shift from a mere catch-up spending and statistical rebound in the second half to working on a stronger foundation for private investment and productivity. “The question now is not whether the second half can produce a statistical rebound. It is whether the government can use this slowdown as an opportunity to confront the structural weaknesses that have been visible for some time,” former Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo said in a commentary on Wednesday. According to Guinigundo, the Philippine economy does not need another list of “shortterm measures or off-the-cuff explanations” for why growth disappointed. After the first half of the year exposed the “size of the challenge” for the Philippine economy in terms of gross domestic product (GDP), the government has responded by promising “catch-up” plans, faster infrastructure implementation and closer monitoring of agency performance. While these are “welcome,” Guinigundo said a “catch-up plan” is never an economic strategy. “It needs a coherent diagnosis of why domestic demand is weak, why private investment is not coming in at the scale required, why public investment can be disrupted so easily, and why productivity and competitiveness remain inadequate,” added the former BSP deputy governor. Most important, he said the economy needs

an economic strategy that connects governance reform, infrastructure, education, energy security, industrial policy, investment promotion and regulatory reform. “This is where the government’s economic narrative needs to become more ambitious,” Guinigundo pointed out, adding that the economy needs a stronger foundation for private investment and productivity.

Deeper diagnosis, structural reform

AS such, the former BSP deputy governor prodded the government to conduct a “deeper diagnosis” instead of treating the Middle East conflict and its resulting energy shock as the culprit behind the second-quarter slowdown. While higher oil prices raise transportation and production costs, thereby squeezing household purchasing power and weakening business sentiment, he said external shocks should not become a “convenient explanation” for everything that is going wrong. According to Guinigundo, the first priority should be to restore confidence in the investment environment. “The Philippines continues to face longstanding problems involving regulatory uncertainty, slow permitting, infrastructure gaps, high logistics costs and delays in the judicial system,” Guinigundo pointed out. He said these are not new problems, and none will be solved by simply increasing public expenditure for a few quarters. Another task ahead, the former BSP official noted, is to develop a “much clearer industrial

policy.” Guinigundo said the Philippines cannot depend indefinitely on consumption, remittances, business-process outsourcing and traditional services to generate the growth required to raise living standards. “The country needs more investment in manufacturing, technology, higher-value services, digital industries and industries where the Philippines has genuine comparative or emerging strategic advantages,” he said. For one, the former BSP deputy governor said the country’s mineral resources offer an opportunity to move beyond simply exporting raw materials toward higher-value processing and manufacturing—provided environmental safeguards, governance and investment rules are established and credible. The third priority is human capital. According to Guinigundo, the country’s learning deficit remains “one of the most serious constraints on long-term growth.” A young population, he underscored, is an economic advantage only if it is “adequately” educated, skilled and productive. “Education reform therefore cannot be treated as a social-sector issue alone. It is an economic-growth strategy,” he said. Fourth, is the food and energy security. Guinigundo said repeated food-price and energy shocks “undermine” real household income, increase production costs and complicate monetary policy. As such, structural reforms in agriculture, logistics, energy infrastructure, competition and

market organization are essential to sustained growth. Finally, the former BSP deputy governor said the government needs to strengthen institutions. “Good governance is not separate from economic policy. It is a pillar of economic policy. Corruption, weak procurement, political uncertainty and inconsistent implementation raise the cost of doing business and reduce the willingness of both domestic and foreign investors to commit capital for the long term,” Guinigundo emphasized. The former BSP deputy governor laid out these priorities after examining the headline GDP number which grew by only 2.3 percent year on year, down from 2.8 percent in the first quarter and sharply below the 5.4 percent recorded in the second quarter of 2025. Guinigundo said the headline GDP number is only the starting point. The more revealing story, he pointed out, is found in the composition of growth. On the production side, agriculture, forestry and fishing grew by 2.7 percent and services by 4.5 percent. But industry contracted by 2.4 percent. On the expenditure side, he said the picture is “more troubling.” Household final consumption expenditure grew by only 2.8 percent, down from 3 percent in the first quarter. This is particularly important because household consumption accounts for roughly two-thirds of Philippine GDP. See “Catchup,” A2

Think chips, not AI hub, for Pax Silica—DOST By Bless Aubrey Ogerio

GO, GO BAGS The City Government of San Juan, led by Mayor Francis Zamora, formally launched the distribution of Emergency Go Bags to 45,000 households across the city on Wednesday, August

12, 2026, at the San Juan City Hall Atrium, as part of the city’s continuing efforts to strengthen household-level disaster preparedness and emergency response. The City Government aims to provide Emergency Go Bags to all 45,000 households in San Juan City. Distribution will be undertaken in four phases—three phases within 2026 and the final phase in 2027—until all targeted households have received their Go Bags. The initiative forms part of San Juan City’s comprehensive disaster preparedness program, which seeks to ensure that families have immediate access to basic safety, emergency, and first aid supplies when disasters or emergencies occur. NONOY LACZA

DepDev: Budget puts human capital, infra in focus By Bless Aubrey Ogerio

HE government is putting human capital development at the center of its proposed 2027 spending plan, the Department of Economy, Planning and Development (DepDev) said. DepDev Undersecretary Rose Edillon said the spending priorities reflect the government’s focus on building both human and physical capital, including digital infrastructure. “Certainly, education has, of course, the biggest share of the budget. So this one also tells you that we are very serious about human capital development,” Edillon said in a televised interview. On Tuesday, the Department of

Budget and Management submitted the proposed P7.2-trillion National Expenditure Program (NEP) for 2027 to Congress. Among agencies, the Department of Education has the largest proposed allocation at P976 billion. Economic services, meanwhile, are set to post the biggest increase in funding. The sector covers infrastructure and other investments intended to support economic activity. “And this one is also our investment in physical capital, which includes digital,” Edillon said. Infrastructure spending is expected to reach P1.467 trillion under the government’s Build Better More program. Edillon said the government is also continuing to support the en-

ergy sector, although its budget allocation is relatively smaller because much of the investment in power generation and other energy projects comes from the private sector. The government’s role, she said, is to create conditions that encourage private investment, including streamlining regulatory processes. For its part, the Department of Energy is also seeking to strengthen the capacity of the Energy Regulatory Commission, which handles approvals and permits for energy projects. “And that does not require too much budget. And that’s the reason why they have “not so-big-a budget.” But it doesn’t mean that we are not prioritizing energy,” Edillon said.

The proposed budget also includes increased funding for the modernization of public utility vehicles. For infrastructure projects, Edillon said the government tightened its screening process, particularly for flood-control projects, to ensure that only those ready for implementation are included in the 2027 spending plan. “Even for the flood-control projects that are included in the NEP, these are the implementationready flood control projects. So that was the filter that was actually used,” she said. The spending priorities are part of the government’s effort to support economic growth toward its 4.4-percent target.

IPOLOG CITY—The proposed Pax Silica development will not be an artificial intelligence (AI) hub but an advanced manufacturing zone focused on semiconductor electronics and chips used in systems, Science Secretary Renato Solidum Jr. said. During the Department of Science and Technology’s (DOST) Regional Science, Technology and Innovation Week in Region 9, Solidum said the planned development would operate similarly to an economic zone. “It’s like Peza [Philippine Economic Zone Authority], but you have local companies that will support the operation there,” Solidum said during the RSTW press conference on Wednesday. He also clarified that the planned development is a United States-led initiative rather than a Philippine government program, based on briefings he received from the Bases Conversion and Development Authority (BCDA) and the Department of Trade and Industry (DTI). “Overall though, it’s essentially an advanced hub to develop semiconductor electronics and chips for AI, but not on AI,” Solidum explained. “So it’s just like a Peza zone [that is] modified a little bit.” The clarification comes as the government has been presenting Pax Silica as a potential location for advanced manufacturing and technology investments. Solidum said DOST’s role would mainly be to provide technical guidance, particularly on the environmental and resource requirements of activities that could be established within the development. He said sufficient power and water supply would need to be considered as part of the project’s development. However, the absence of a large AI hub would mean lower water

requirements than if the site were to host major AI computing operations. Last week, the BCDA estimated Pax Silica could eventually require 65 million to 90 million liters of water daily, with the planned system relying on surface-water harvesting, storage, treatment and recycling; it also clarified that no “hyperscale” data center is planned for the hub. For Solidum, he said the project could tap water retention facilities in areas affected by lahar flows following the 1991 eruption of Mount Pinatubo, which could provide an additional water source.

Ore processing

THE science chief also discussed the potential processing of critical minerals in relation to the development, saying it would be more practical to process ores near mining sites rather than transport raw ore to Pax Silica. For mineral recovery, he said DOST is looking at less harmful extraction methods that could recover materials such as gold and other critical minerals from mine waste, electronic waste and discarded electric vehicle components. The agency is also exploring the use of waste materials from other industries to develop alternative materials for mineral extraction, potentially reducing reliance on chemicals that could harm the environment. “Our role is to provide guidance. We are not the front-liner,” Solidum said, adding that DOST could provide technical input on proposed activities when asked to do so. Pax Silica, which is being developed within the Luzon Economic Corridor, is targeted for framework completion within two to three months. Officials from the Philippines and the US are eyeing a signing before year-end, the BCDA said in a July televised interview.

A10 Thursday, August 13, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Streamlining GOCCs: Accountability without abandoning purpose

HE Governance Commission for Government-Owned and Controlled Corporations (GCG) is winding down 21 state-run firms that no longer effectively fulfill their mandates. According to the GCG, dozens of GOCCs are currently slated for closure, merger, or privatization as part of a broader effort to enforce fiscal discipline and eliminate underperforming state enterprises. (Read the BusinessMirror story: “Govt abolishing 21 GOCCs for failing to fulfil mandate,” August 10, 2026).

On paper, shutting down non-performing entities is prudent governance. As Finance Secretary Frederick D. Go pointed out, roughly 10 percent of more than 100 GOCCs require closure. State ownership does not automatically generate public value; when a GOCC becomes a permanent expense line that swallows salaries, maintenance, and overhead without producing measurable output, public resources turn into sunk costs. The GCG’s practice of “deactivating” non-performing firms before full legal abolition offers a pragmatic bridge between paper reforms and fiscal control. Deactivation prevents further losses while asset preservation, liquidation, and legal transitions run their course. The affected sectors—spanning agriculture, regional development, real estate, utilities, energy, education, and finance—may trigger concern if interpreted as government abandonment. However, if these firms perform redundant functions, deliver weak results, or occupy areas better suited for private capital, winding them down represents genuine accountability. Abolishing government corporations is not the end of the story—it is actually just the start. While most state-owned companies are doing well and sending money back to the government, shutting down the ones that are not working creates new challenges that need to be addressed. First, we need to make sure essential services continue. Many of these government companies were created to provide things the private market won’t—like support for farmers, development in rural areas, and basic infrastructure. Since these services are not always profitable, we need clear plans about who will take over these responsibilities and where the money will come from. Second, we must protect workers and communities. When a government company closes, people lose their jobs right away. The government needs to publish clear plans that include job training, fair severance pay, and safety nets to help workers through the transition. Third, we need complete transparency about what happens to the company’s assets. When government property is sold off, there’s always a risk of delays, disputes, or corruption. Strong oversight and public reporting are necessary to track where everything goes and prevent any funny business during sales or mergers. Finally, we should be realistic about privatization. Selling off government functions to private companies should not just be a way to avoid dealing with problems. Important public services like utilities and infrastructure still need proper regulation and accountability to make sure people continue to receive reliable service. A serious evaluation of GOCC governance also requires an honest look at subsidies versus dividends. The government reported P114.58 billion in subsidies to GOCCs as of end-June, even as it projected P147.15 billion in annual dividend collections under the Dividend Law. A headline dividend figure does not tell the full story. A rigorous governance framework must justify which entities receive subsidies, measure whether those funds yield tangible public value, and identify underperforming recipients. Winding down 21 GOCCs can streamline public administration, but real success hinges on results: reduced fiscal waste, preserved public services, transparent asset management, fair worker transitions, and stronger monitoring for the GOCCs that remain. The step-by-step approach—deactivating first, then abolishing—is procedural, but true responsibility is substantive. If state entities are dissolved without transferring their public functions, the government risks degrading service delivery and shifting costs elsewhere. Streamlining GOCCs is not inherently anti-public; it becomes pro-public when guided by performance evidence, backed by worker safeguards, and grounded in post-closure arrangements that preserve the state’s public purpose.

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso, Dionisio L. Pelayo

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer

Eduardo A. Davad Nonilon G. Reyes

Chairman of the Board President Advertising Sales Manager Group Circulation Manager

D. Edgard A. Cabangon ✝ Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines. Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025. (Advertising Sales) 893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news.businessmirror@gmail.com

www.businessmirror.com.ph

Printed by BROWN MADONNA Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

Publishers Association of the Philippines Inc.

A bill nobody signed for John Mangun

OUTSIDE THE BOX

NDIA quietly withdrew its bid to host the UN Climate Change Conference, COP33, for 2028, stepping back without a press conference or a word of explanation from a role it had campaigned for over several years.

Writing on the World Economic Forum’s site last year, an energy policy fellow at the Observer Research Foundation America cast the bid as proof a nation of the Global South could finally write climate rules instead of just receiving them. India agreed and wrote its own rules. The government ran the numbers on what a net zero transition would cost an economy of 1.4 billion people still climbing out of poverty, did not like the answer, and refused to keep pretending otherwise. Only a big guy carrying a big stick can display that kind of honesty. India can walk away because it has the population, the market, and the leverage to set its own terms. The Philippines will never have that size of leverage, and it has never tried to admit to reality. Instead, it pledged a 75 percent cut in greenhouse gas emissions under its Nationally De-

termined Contribution, of which barely 2.7 percent is unconditional, funded by the country itself. The rest depends on foreign money that has not arrived. Manila signed up for obligations it could not fund on its own, then sent the bill to Filipino households that never agreed to any of it. Picture a restaurant that gives out two menus. One is the printed menu with farm-to-table promises and seasonal specials, the kind that earns a glowing review. The handwritten one is what the kitchen actually cooks, because the stove keeps cutting out and somebody still has to feed the customers already seated and already paying. The printed menu is the 35 percent renewable energy share the Philippine government has promised by 2030, up from 25 percent today. The real kitchen is coal and

gas, still supplying more than half the country’s power, protected by a 2020 moratorium written with enough loopholes to exempt every plant already approved or already expanding. Nobody in government had to say the moratorium was an empty gesture because the exemptions said it for them. The customers are paying for that dishonesty right now. The Philippines posted the highest average electricity rate in Southeast Asia in June, P12.43 per kilowatt-hour, edging out even Singapore. Meralco customers paid more still, P14.48 per kilowatt-hour. And 21 power plants in the Visayas sat on forced outage, the grid there has been under a yellow alert since May 13. Officials called it a supply problem rather than what it is, a planning failure two decades old. Then the oil shock hit. Marcos declared a national energy emergency in March, diesel jumped from P54 to P76 a liter within weeks, and the peso began a slide that breached 61 to the US$1 by April and kept setting records into July, one of the worst currency showings in Asia this year. A country that keeps missing its own energy targets does not get to act surprised when the next shock finds every crack already there. In his State of the Nation Address in July, Marcos floated revisiting nuclear power, a technology the country has circled since Bataan was

mothballed decades ago. Even on an optimistic timeline, that option will not touch the grid before the mid2030s. Raising it now reads less like a plan than a confession that nothing on the stove works, offered too late to help anyone paying this year’s bill. Meanwhile the money keeps arriving for the future menu, not the one anyone is eating from today. ACEN is spending roughly P70 billion on its Quezon North wind project. A Danish developer has committed roughly P360 billion to an offshore wind project in Ilocos. Foreign investors can now own renewable energy projects outright under a 2022 law. On the Philippine Stock Exchange, Aboitiz Power still trades as a coal name at heart, with roughly half of its output tied to the fuel the government keeps promising to retire. Every peso of that capital bets on a kitchen that does not exist yet, while the one that does keeps charging Southeast Asia’s highest rates to stay open. India ran its numbers and had the guts and common sense to act on them. The Philippines never ran the same numbers, or ran them and ignored what they said. Either way, the bill keeps landing on whoever is still sitting at the table. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

EU study warns pesticide import curbs risk lifting food prices By Max Ramsay

EUROPEAN Union study found that proposed curbs on farm imports treated with pesticides risk pushing up consumer prices, adding to trade concerns raised by agricultural powerhouses such as the US and Brazil. In a preliminary study published Tuesday, the European Commission said that, in the scenarios that were assessed, “imports decline, EU production rises and consumer prices increase,” though the “magnitude depends strongly on exporters’ adaptation assumptions.” The study adds to concerns raised by 19 countries at a World Trade Organization meeting in June, including the US, Canada, Brazil, Australia and Argentina. The US urged the EU to ensure its proposals are supported by a full risk assessment and avoid unnecessary withdrawals. The European Commission, the EU’s executive arm, proposed measures in December as part of efforts to streamline and simplify food and feed safety legislation, while also aiming to “ensure a level playing field” for the bloc’s producers. The proposal would give the EU the power to ban imports with traces of pesticides that aren’t authorized in the bloc. The proposal risks destabiliz-

ing markets and supply chains with a “zero-tolerance approach” that would make it “nearly impossible to reliably export to the EU,” the US Department of Agriculture said last week in an emailed response to questions. A USDA spokesperson didn’t immediately respond to a request for comment on the EU’s study. European Commission spokespeople Arianna Podesta and Eva Hrncirova said at a daily press briefing Tuesday the study was only one step in the process and should be considered separately from the EU’s proposal, which they added had been notified to the WTO and feedback had been assessed and responded to. The EU previously disputed the potential impact of its proposed measures, saying they would only be applied to specific substances in light of an impact assessment on a caseby-case basis, while the preliminary study looks at such restrictions more broadly. In an emailed statement last week, a Commission spokesperson

The proposal is now going through the EU’s legislative process and is under separate discussions in the European Parliament and among the bloc’s member states in the EU’s Council. So far EU member states have been split on the proposal, with its approach to MRLs and rules to extend permits for pesticides both proving contentious.

said the bloc will take into account the importance of preserving the EU’s food security and possible trade implications, while imports of commodities not produced in the EU, like coffee, or feeds the economy relies on will not be affected. The December proposal would enable the EU to reduce the traces of certain pesticides—so-called ‘Maximum Residue Levels’ or MRLs—permitted in imports to a technical zero, at the limit of what can be detected in tests, effectively banning their use on products to be exported to the bloc. The current system allows for residues of some pesticides not approved in the EU if they pose no risk to consumers, which the Commission in its proposed regulation warned still allows some substances

that are hazardous to the environment to be used. The idea that farmers outside the EU should be restricted to the same chemicals that EU farmers can use has proved persuasive for many in the bloc. Its critics argue that different agricultural or climate conditions can justify the use of certain products and call for import tolerances to enable international trade. In a letter seen by Bloomberg and dated mid-July, Canada’s Minister of International Trade Maninder Sidhu warned the proposal “departs from internationally accepted approaches to scientific evidence and dietary risk assessments in MRL setting.” “It would undermine the predictability and stability of global agri-food supply chains and would severely disrupt the flow of trade, such as Canadian grains, oilseeds and pulses—including those like canola, where imports are primarily intended for biofuel production rather than human consumption,” Sidhu wrote in the letter addressed to his Irish counterpart, Helen McEntee, as Ireland currently holds the Council of the EU’s rotating presidency. A spokesperson for Canada’s embassy to the EU didn’t immediately respond to a request for comment on See “EU,” A11

www.news.businessmirror@gmail.com

Opinion BusinessMirror

Thursday, August 13, 2026 A11

For whom the bill tolls: The 800-pound gorilla in the room Five years of fruitful For this series, the narrower task endeavors: A new is to follow the bill: identify what makes power expensive, trace where each burden lands, and chapter for development find opportunities for improvement without merely moving the W and prosperity cost to another line. For transBy Atty. Laurence R. Rogero

Fourth of eight parts

By Jing Quan

EVELOPMENT is an eternal theme of human society. Five years ago, in the face of the uneven recovery of the global economy and the sluggish growth of developing countries, President Xi Jinping solemnly proposed the Global Development Initiative (GDI) at the general debate of the 76th session of the United Nations General Assembly, putting forward a Chinese solution and making a Chinese contribution to reinvigorating global development. The Initiative serves the broadest interests of humanity. It advocates forging a united, equal, balanced and inclusive global development partnership, and calls on all parties to accelerate the implementation of the UN 2030 Agenda for Sustainable Development. It upholds the principles of staying committed to development as a priority, a peoplecentered approach, benefits for all, innovation-driven development, harmony between man and nature, and results-oriented actions, thus sounding a strong call of our times for promoting common development. Five years on, the GDI has played a greater role in driving global development, developed better cooperation mechanisms and delivered a steady stream of cooperation outcomes. It has evolved from a Chinese proposal into an international consensus, winning wide appreciation and drawing active participation from the international community. More than 130 countries and international organizations have expressed support for the GDI and participated in its cooperation, while nearly 100 countries and international and regional organizations have signed GDI cooperation documents with China. The Group of Friends of the GDI has expanded to 88 member countries. More than US$23 billion has been mobilized, supporting the implementation of over 1,800 “small and beautiful” livelihood projects and providing training for more than 200,000 people in different professions, bringing tangible benefits to people in more than 120 countries. Over the past five years, China has deepened development strategy coordination with ASEAN countries, advanced people-centered flagship projects to improve people’s wellbeing, and pooled new drivers of innovation through cooperation in new quality productive forces, with a view to making Southeast Asia a demonstration region for the GDI cooperation. Working together to alleviate poverty. In Takeo province, Cambodia, China has built a ChinaCambodia Friendship Poverty Alleviation Demonstration Village and distributed “care packages” to local children, providing basic meals for more than 10,000 children. Promoting food security. In Khon Kaen province, Thailand, China has helped build a water-retention weir project that stores rainwater during the rainy season for irrigation in the dry season. The project has addressed challenges arising from inadequate water management and

EU. . .

continued from A10

the letter, but the country’s Ambassador-Designate to the EU, Jonathan Wilkinson, said in a statement on Friday that the “EU’s current regulatory proposal risks creating new barriers that could undermine food security, competitiveness, and a rules-based trading system.” The Australian Government Department of Agriculture said in an emailed statement last week that the country is “concerned for any horticulture or grain exports from Australia to the EU” until they have precise details of what could be impacted, while the

AMBASSADOR JING QUAN

irrigation systems in northeastern Thailand, effectively strengthening local food security while reducing flood risks. Empowering green development. In Laos, China has helped develop the Monsoon Wind Power Project, the largest single-site wind power project in Southeast Asia, with a total installed capacity of 600 megawatts. The project provides employment opportunities for around 1,000 local residents and is expected to reduce carbon emissions by an average of 1.56 million tons annually, contributing to Laos’ vision of becoming the “Battery of Southeast Asia.” Enhancing connectivity. In Timor-Leste, China has helped build the country’s first modern container terminal at Tibar Port, equipped with modern logistics, loading and unloading facilities. The project has significantly enhanced TimorLeste’s trade appeal and level of connectivity. These are just a few examples of the many tangible outcomes generated through GDI cooperation. The Initiative has become one of the most influential international public goods today, providing practical support to countries in Southeast Asia in addressing their development gaps and exploring development paths suited to their respective national conditions. The Philippines is a member of the Group of Friends of the GDI. We hope that the Philippines will work with China to keep development high on the agenda, properly manage differences through dialogue and consultation, and make mutually beneficial cooperation once again the underlying tone of China-Philippines relations. Let’s share the benefits of GDI cooperation, build a common path toward development and prosperity, and work together to create a brighter future for the region. The author is the Ambassador of the People’s Republic of China to the Philippines.

USDA highlighted possible impact on tree nut, soybean, and corn exports. The proposal is now going through the EU’s legislative process and is under separate discussions in the European Parliament and among the bloc’s member states in the EU’s Council. So far EU member states have been split on the proposal, with its approach to MRLs and rules to extend permits for pesticides both proving contentious. A new compromise is set to be presented next month by Ireland, according to a person familiar with the discussions. Once a version of the legislation is agreed by both bodies, they would go into negotiations to produce a final version. Bloomberg

E begin with a malaphor. Mixed, yes; inexact, no. The national transmission grid is indispensable and unavoidable. Its operator is protected from competition yet controls the system through which grid-connected generators deliver power and distribution utilities receive it. The question is not whether the gorilla may sit in the room. It must. The question is what keeps its weight from falling on everyone else. The National Grid Corporation of the Philippines (NGCP) operates the grid. A consortium won the 25-year concession in 2007 with a US$3.95billion bid. Congress granted NGCP a 50-year franchise, and operations transferred in 2009. TransCo retained legal title and concession oversight; operational control rests with NGCP. NGCP plans expansion, processes connections, manages congestion, balances supply and demand, coordinates outages, and secures ancillary services. Its decisions can determine which plant connects, which generator runs, and whether cheaper electricity reaches consumers. That is why EPIRA and NGCP’s franchise restrict cross-ownership with generation or distribution interests. Control of the grid can become control of the market. The regulatory compact is supposed to discipline that power. The state grants exclusivity, prudent-cost recovery, and a regulated return. NGCP accepts open access, performance standards, expansion duties, and public accountability. Profit is not proof of abuse. But scale sharpens the question: what risks does the grid investor bear? On the bill, two charges are visibly tied to transmission. The first pays for operating and maintaining the network, taxes, depreciation, and a return on prudent investment. NGCP is regulated under a maximum annual revenue framework with regulatory adjustments. If throughput falls below forecast, the approved revenue is not ordinarily lost; the unit rate and timing of recovery can change. The second visible charge pays for ancillary services — the reserves needed when demand shifts suddenly or a plant trips. NGCP procures them through contracts or the reserve market and passes the cost through without a separate return on the energy procured. The ERC now requires separate presentation, verification, and true-up. The cost was already there. What changed was its visibility. Those two lines still do not show the grid’s full effect on the bill. The transmission grid itself loses electric-

ity, a fact recognized by the Philippine Grid Code. Consumers do not see a separate NGCP line item called “system loss,” nor does NGCP simply buy the missing energy and absorb the cost. In WESM, prices vary by location partly because of transmission losses and congestion; for bilateral quantities, those differences are reflected through line-rental settlement. The loss occurs in NGCP’s grid, but NGCP does not bear its energy cost. Instead, that cost is reflected in the price difference between where power enters the grid and where it is withdrawn, and is ultimately paid by electricity buyers without a separate line item labelled “system loss.” The electricity is lost in the grid; the cost travels farther. Congestion can do something similar. If the grid cannot carry cheaper power to where it is needed, a more expensive plant may have to run. The resulting cost appears principally in the generation charge, even though a transmission constraint helped produce it. Where a cost arises and where it appears on the bill need not be the same place. Billing transparency is therefore not the same as regulatory accountability. A bill can show what was collected. It cannot reveal whether expansion was timely, congestion avoidable, or unfinished construction entitled to earn a return. The issue is current, but unresolved. The ERC’s May 2026 order recorded TransCo’s concern over the Manila (Navotas) 230-kV Substation: P2.018 billion in reported expenditure, due in May 2019 but only 35.75 percent complete by December 2025. The Commission kept its Fifth Regulatory Period capitalexpenditure determinations while deferring project progress, consumer benefits, and asset-base consequences to the Sixth Period reset. It denied NGCP’s blanket P220.55-billion request without closing the door on project-specific reconciliation. That establishes no fault. It frames a live question: when should unfinished construction begin earning a return, and how should avoidable delay affect it? Compare the investors. A generator commits capital before selling a

mission, that means paying for prudent foresight, distinguishing unavoidable difficulty from avoidable delay, and making accountability follow control.

kilowatt-hour and bears construction, fuel, currency, technology, plant-performance, and dispatch risk. A distribution utility bears procurement, collection, service, and some excess system-loss risk; costs the ERC finds imprudent may not be passed through. NGCP bears real risks too. It finances projects, acquires right-ofway, operates and repairs the grid, pays concession fees, and faces penalties or disallowance for imprudent expenditure. But merchant and ordinary volume risk are muted. No rival grid can take its customers; NGCP does not live or die by spot prices or by whether a plant wins dispatch. The possible pressure points are familiar: delayed access, congestion, inadequate reserve planning, unfinished projects, and claims for returns before assets become useful. These can shift costs to generators, reserve providers, utilities, consumers, or government. The list proves no violation. It asks whether each risk rests with the party best able to anticipate, prevent, or mitigate it. NGCP’s Transmission Development Plan 2025–2050 shows why that question is current. It begins with DOE demand forecasts and generation additions, then identifies the network required. It acknowledges that generation-transmission alignment is harder under the present structure and that more iteration could improve planning. Renewables make coordination urgent: wind and solar can be built faster than major lines and often far from load centers. The plan also presents the other side. As of January 2025, it reported 105 transmission projects in construction or pre-construction awaiting ERC approval and said NGCP sometimes begins implementation before approval, risking non-recovery and penalties. Build early and NGCP risks disallowance. Build late and congestion, curtailment, reserve scarcity, and delayed investment may fall mainly on others. Both errors must be priced fairly.

Policy is already testing different allocations. In June 2026, the ERC authorized Masinloc Power Co. Ltd. to develop dedicated facilities connecting its 700-MW expansion to NGCP substations. ERC Resolution No. 18, Series of 2026, also allows entities other than NGCP to finance and construct DOE-identified associated or priority transmission projects. These measures do not create a rival grid; they show that who should build is no longer answered automatically. The answer is not a blank check— for NGCP or a substitute builder. Strategic projects should receive early approval of need and prudent preparatory spending, subject to milestones, cost controls, and consequences for avoidable delay. Planning should consider generation, transmission, storage, reserves, demand response, and non-network alternatives together. Unfinished or unused assets should not automatically earn the same return as assets already serving consumers. The larger principle is simple: responsibility, controllable risk, and regulated return should align. Where NGCP is best placed to anticipate or mitigate a problem, the regulatory compact should not casually move the consequence to generators, distribution utilities, government, or consumers. Where delay or difficulty is genuinely outside its control, regulation should recognize that too. For this series, the narrower task is to follow the bill: identify what makes power expensive, trace where each burden lands, and find opportunities for improvement without merely moving the cost to another line. For transmission, that means paying for prudent foresight, distinguishing unavoidable difficulty from avoidable delay, and making accountability follow control. The wires end at the distribution utility. That is where the next component of the bill—and the next installment—begins.

Atty. Laurence R. Rogero is an infrastructure lawyer with three decades of experience in the Philippine and international power and water sectors. He held senior positions at Mirant Philippines and Manila Water and served as President and CEO of Metro Pacific Water. He has consulted for the ADB and the World Bank. He is Lead Independent Director of Vivant Corporation, which has interests in energy and water, and lectures at the Ateneo de Manila University, where he is pursuing postgraduate studies in economics. He graduated magna cum laude from the UP School of Economics, earned his law degree from UP, and obtained an LL.M. with Distinction from Georgetown University as a Fulbright Fellow. The views expressed are his own and do not necessarily reflect those of any organization with which he is affiliated.

Russia turns to India for gasoline as Ukraine pummels refineries By Rakesh Sharma, Nicholas Lua & Weilun Soon

USSIA has started importing gasoline from as far away as India, as Ukrainian attacks on its refineries trigger severe local shortages.

It’s the first time Moscow has imported the motor fuel from the South Asian nation, according to Kpler data, with the lengthy journey required an indication of how dire the crunch is becoming. The first shipment was received on Aug. 5, and more may be on the way, according to Kpler. Indian processor Nayara Energy Ltd.—backed by Rosneft PJSC, Russia’s top oil producer—has emerged as a source of the fuel, which is being moved on a chain of Russian-linked tankers via transfers off Egypt. “The emergence of Indian barrels is particularly notable,” said Sumit Ritolia, lead analyst at Kpler. The cargoes, which complement continued imports from Belarus and other neighboring markets, highlight “the severity of the current domestic gasoline imbalance, and the extent to which lower refinery runs are reshaping Russia’s traditional product trade flows,” he said. The global energy market is coping with the fallout from two major

conflicts, as Kyiv presses on with its assault on Russia’s refineries, while the US and Iran continue to face off in the Middle East. The combined disruptions have acted to tighten fuel markets, with Moscow—traditionally a supplier of fuels overseas—banning both gasoline and diesel exports to prioritize local users. Following a wave of attacks, EA Analytics estimated that Russia’s crudeprocessing rates were running at 3.6 million barrels a day in July, about a third below the seasonal norm. Since then, Kyiv has intensified strikes, hitting five processors last week and at least two more this week. Russia’s Energy Ministry, India’s Oil Ministry, and Nayara’s communications team didn’t respond to Bloomberg requests for comment. Since getting sanctioned by the European Union in July last year, Nayara has been relying on so-called dark-fleet tankers and transshipment operations to receive its crude, and export fuels. Its 400,000 barrela-day refinery at Vadinar on India’s

The global energy market is coping with the fallout from two major conflicts, as Kyiv presses on with its assault on Russia’s refineries, while the US and Iran continue to face off in the Middle East. The combined disruptions have acted to tighten fuel markets, with Moscow—traditionally a supplier of fuels overseas— banning both gasoline and diesel exports to prioritize local users.

west coast also needs to widen its export market, after a key buyer, Hindustan Petroleum Corp., recently started producing more of its own fuel in the region. For the inaugural shipment, Russian-flagged products tanker Cyclone (formerly Agni) loaded a 42,000-ton gasoline cargo from Vadinar on June 18, ship-tracking data compiled by Bloomberg show. The fuel was then transferred to the Oman-flagged Garnet at Damietta Port, off Egypt’s Mediterranean coast, on July 6. That vessel then reached Russia in early August. More gasoline may follow. The products tanker Varg loaded nearly 40,000 tons of the fuel at Vadinar on July 6 and likely conducted a ship-to-

ship transfer at Damietta in late July, based on changes in its draft, according to Kpler. Ship-to-ship transfers, or STS, typically take place so individual vessels can cut travel times. No receiving vessel has been confirmed, though Kpler identified Beast as a possibility. The vessel was at Damietta and recorded an increase in draft on July 30-31. Beast had signaled Morocco’s Tangier as a destination, but has since gone beyond that port and is now sailing north in the Atlantic Ocean, with its cargo intact, the data show. Another products tanker, Cameroon-flagged Photon, also left Vadinar on July 13 before transferring its gasoline cargo at Damietta to the Russia-flagged Talisman on July 2829, the data show. These ships were classed on the Russian register, with the exception of Garnet. All of them have been sanctioned by the EU, with Garnet and Talisman also being targeted by the US. “The final destination of Talisman and Beast remain unconfirmed but the emerging trading pattern suggests Damietta STS hub continues to facilitate the movement of Indian-origin gasoline toward Russian import channels,” Kpler said in a report. Bloomberg

Sports BusinessMirror

A12 Thursday, August 13, 2026

mirror_sports@yahoo.com.ph | Editor: Jun Lomibao

MILESTONE UNFOLDING FOR ALAS PILIPINAS GIRLS CAERA CELIS celebrates a point for Alas Pilipinas Girls with Xyz Rayco and Jhaynna Bulandres. VOLLEYBALL WORLD

NLEX import Dequan Jones displays a positive demeanor at the Cardinal Santos Medical Center with team governor Ronald Dulatre, while Brandon RosserGanuelas looks shaken on the TNT bench after the horrible accident. PBA IMAGES

Jones all smiles after undergoing surgery in lower right leg, ankle

By Josef Ramos

LEX import DeQuan Jones underwent surgery in his lower right leg and ankle that were fractured during an accidental collision with TNT Tropang 5G’s Brandon Rosser-Ganuelas during the Philippine Basketball Association game that the Road Warriors won to remain on top of the Governors’ Cup on Tuesday night at the Ynares Sports Center in Antipolo City. “He’s in high spirits,” NLEX governor in the PBA board Ronald Dulatre told the BusinessMirror on Wednesday after visiting Jones, who will also undergo surgery in his right fibula once the swelling subsides. Doctors, according to Dulatre, said that it will take at least four months for Jones to recover but he has to undergo strength and psychological conditioning for a year before he can be play again. Jones sustained the horrible injury while driving to the basket against RosserGanuelas in the 7:27 mark of the third quarter and had to be wheeled out on a stretcher— he made the thumbs up sign and was smiling on the way to the ambulance. He was called for an offensive foul and even without an import, NLEX went on to win, 118-111, for a guaranteed berth in the quarterfinals with a league-leading 7-1 win-loss record. The Road Warriors, Dulatre said, would potentially play without an import when they face Converge at 5:15 p.m. on Friday at the Smart Araneta Coliseum. “Unless we can find someone who is available here who can beat today’s [Thursday] 12 noon deadline in the PBA office, maybe we can have an import,” Dulatre said. “But for now,

all our concern goes to DeQuan Jones.” The PBA allows teams to play without an import—due to injury or emergency reasons— for two consecutive games, otherwise sanctions will be imposed. “Coach Jimmy [Alapag] already has a few names in mind, but we cannot name them yet,” Dulatre said. The PBA will have a two-month break after’s Friday’s play date—the other game at 7:15 p.m. pits Meralco against Barangay Ginebra San Miguel—to give way to the fourth window of the FIBA 2027 World Cup Asia Qualifiers on August 28 and 30 at the Mall of Asia Arena and the Aichi-Nagoya 20th Asian Games in September. Robert Bolick had 27 points, five rebounds and eight assists and LJ Gonzalez finished with 28 points to lead the Road Warriors, who drew 23 points from Jones in the victory over the Tropang 5G.

Filipino sepak takraw athletes bag silver, bronze in Thai worlds

HE Philippines showed promise ahead of the Asian Games after bagging silver and bronze at the 39th Thai King’s Cup Sepaktakraw World Championships 2026 in Bangkok. The men’s regu team of Jason Huerte, Jom Lerry Rafael, Reynaldo Asilum Jr., Ronsited Gabayeron and Glindel Phori defeated Brunei and China before stunning Malaysia to reach the final for the first time in seven years. The team, however, yielded to perennial world champion Thailand 1215, 11-15 in the battle for gold. Mar y Ann Lopez, Kristine Lapsit, Rachelle Palomar, Nieva Jane Salon, Heart Makiling and R hea Mae Dela Cruz ranked third in women’s Quadrant. THE men’s regu team—(from left) coach Joel Carbonilla, Jom Rafael, Reynaldo Asilum, Glindel Phori, Jason Huerte, Ronsted Gabayeron and coach Grendel Ilogon—make the thumbs up sign in Bangkok. PSI PHOTO

Philippine SepakTakraw Inc. president Karen Tanchanco Caballero said the results showed they are moving in the right direction, but also indicated there is still work ahead as they continue their preparations for the Aichi-Nagoya 20th Asian Games next month. The podium finishes are also expected to serve as momentum for the country as it plays host to the ASTAF U19 Asian Sepak Takraw Championships in Manila this November.

By Aldrin Quinto

AN FELIPE, Chile—A milestone is unfolding for Alas Pilipinas at the FIVB Volleyball Girls U17 World Championship, a remarkable feat from a team still in its development stage, built on barely a week of training and limited resources. Caera Celis, Xyz Rayco, Jhaynna Bulandres, Sharina Lleses, Princess Manzano, Nadeth Herbon, Resty Olaguir and the rest of the squad have pushed through adversity as Alas Girls marched on to the Round of 16, the best-ever finish by any Philippine volleyball team at a world championship. The Alas Pilipinas Girls thus surpassed the Bryan Bagunas-led squad that fell just short of that stage at 19th spot in the FIVB Volleyball Men’s World Championship last year in the Philippines, and the team which placed 18th in the 1974 FIVB Women’s Volleyball World Championship in Mexico. On the strength of two huge victories over world No. 8 Mexico and No. 20 Tunisia, plus a gritty stand in a 19-25, 16-25, 25-22, 25-19, 11-15 loss to world No. 12 Venezuela on Tuesday at the Liceo Mixto San Felipe, Alas Pilipinas Girls marched into the knockout phase alongside powerhouse teams China, USA, Korea and Poland. Team manager Karl Chan noted that the challenges for youth players are much tougher than for elite squads due to scarce resources and limited scouting information, among others. “These are teens, playing at this high level for the first time, they face a lot of unknowns. You have to learn every step of the way, facing teams you don’t know,” Chan said. “Unlike at the seniors level, more or less you’ve seen them play somewhere.” Captained by Megan Hernandez and also featuring Irish Mahinay, Taj Teves, Jello Mauricio, Madele Gale, Frances Ramos and Jhenica Sadia, Alas U17 cam still achieve more, with several days of competition left. They seek a place in the last eight when they take on South

Korea on Wednesday in Los Andes. The coaching staff said it’s an unexpected feat, noting that after securing the World Championship berth with a fifth-place finish in the Asian Volleyball Confederation U16 Women’s Championship in November last year, plans for a long training camp were dashed by leadership changes and management woes in the Philippine National Volleyball Federation. “It’s fulfilling to see these kids succeed and achieve more, because it’s the start of their journey in international volleyball,” Chan said. “We’re looking forward to seeing these 14 players be future national team players in the senior level.”

Head coach Edwin Leyva credited the players for adapting quickly, from coping with chilly 4-degree temperatures to learning on the fly against teams they have previously seen only on video. “China is clearly on a different level. But against the rest of the pool, I believed we had a chance, if only we had more time to train and gel,” Leyva said. “Still, they’ve matured a lot playing matches at this level. You see them crying out of frustration one night and then coming back to fight hard the next afternoon. Assistant coach Oliver Balse agreed, saying that the team that will enter the Round of 16 will be a much different squad. “What we aimed for was one set at a time, and we will continue to do so as the tournament progresses,” Balse said. The team, supported by the Philippine Sports Commission, Philippine Olympic Committee and Asics, went from tears to cheers as they pushed Venezuela hard a day after a heartbreaking four-set loss to No. 6 Peru. Celis had 24 points from 22 attacks and two aces, while Xyz Rayco delivered 19 from 17 attacks, a block and an ace as the Philippines closed pool play with a 2-3 win-loss record. Bulandres, a starter in the previous matches, proved effective off the bench as she came up with timely hits in the third and fourth sets, scoring eight on six attacks and two blocks. Venezuela, which finished pool play with a 3-2 record, got 27 points from Colina Lezama Yalesca Lileagne, and 15 from Amanda Estefania Pacheco Gonzalez. They face Chinese Taipei in the Round of 16.

Silver for Patrick Coo at Asian BMX

Patrick Coo (left) stand on the podium with his Men Elite silver medal with back-to-back gold medalist Asuma Nakai (center) and bronze medalist Ryo Shimada both of Japan. Coo— 23, a bronze medalist in the same event last year and at the Hangzhou 2023 Asian Games—is bound for the Aichi-Nagoya 20th Asian Games with Incheon 2024 gold winner Daniel Caluag. FB PHOTO

Galvez helps PHL foil team bag gold in KL tourney

T MEMBERS of Team Philippines (from left) Willa Galvez, Victoria Ebdane and Jodie Tan of Team A pose with their gold medals along with Team B of Hadia del Castillo, Victoria Malvar and Yuna Canlas with their bronze medals. TEAM PHL PHOTO

HE Philippines won the women’s foil and men’s saber team gold medals and bagged two silver and four bronze medals in the Southeast Asian Fencing Federation (SEAFF) Cadet and Junior championship on Tuesday at the Arena TSH OCM in Kuala Lumpur, Malaysia. Victoria Ebdane, Willa Galvez and Jodie Tan beat Vietnam, 44-37, in the women’s team foil gold medal play, while Khiane Felipe, Vito Coching, Drake Chung and Matthew General defeated Thailand, 45-40,

in the men’s team saber final. Oscar del Castillo clinched silver medal in men’s individual epee and bronze medal with Joaquin De Silos, Jacob Mayo and Boo Geronimo in men’s team epee. Estelliah Gilliana, Hailey Sophia Peters, Arianna Tiu and Nadelle Turiano also gave Team Philippines a silver medal in women’s saber team event. Bagging bronze medals were Team B of Canlas, Del Castillo and Malvar got bronze in women’s foil; Rhiana Cruz, Eleina Junia, Faith

Olemos and Papina Torre in women’s epee; and Inigo Divinagracia, Lucas Palafox, Jethro Chan and Elijah Timbol in men’s foil. Galvez—backed by Nickel Asia Corp., NLEX Corp., Rain or Shine, MVP Sports Foundation, Strong Group Athletics, Pocari Sweat and Icons Sports Management Services—also earned a bronze medal in women’s individual foil at the expense Singapore’s Sita Naidu Maaravis, 15-14, in the quarterfinals but lost to eventual gold medalist and Malaysia national team member Suraya Rizzal, 15-8.

Four collegiate squads lead charge in NSAC hoops

HE National Student Athletes Championship (NSAC) World Invitational presented by the Philippine Sports Commission (PSC) will bring together eight teams from the Philippines, Japan, Taiwan and Australia for a three-day competition beginning Friday at the PhilSports Arena. University of Santo Tomas (UST), San Beda, Jose Rizal University (JRU) and Far Eastern University (FEU) will vie against the Fighting Eagles

Nagoya and Tenri University from Japan, National Formosa University from Taiwan and Elite Stacks AUS from Australia in the tournament organized by Asiabasket. PSC chairman Patrick “Pato” Gregorio welcomed the staging of the international tournament and the opportunities it creates for Filipino student-athletes. “The NSAC World Invitational gives our student-athletes an opportunity to compete against

international opposition here at home and gain valuable experience that can contribute to their development,” Gregorio said.” The PSC is pleased to support initiatives that create more meaningful competitive opportunities for Filipino athletes.” Asiabasket Founder and CEO Jai Reyes said the tournament reflects the organization’s goal of creating more opportunities for Philippine basketball to engage with international competition.

Editor: Jennifer A. Ng

Companies BusinessMirror

Thursday, August 13, 2026

Market volatility, plant outages slash Vivant core profit By Lenie Lectura @llectura

IVANT Corp. saw its core profit decline 19 percent to P784 million due to market volatility during the first six months of the year. Non-core losses, including subsidiary downtime, dragged the parent company’s net income down by 21 percent year-on-year to P757 million, despite offsetting foreign exchange gains and insurance payouts. “Vivant recognizes that uncertainties continue to persist. Externally, the ongoing conflict in the Middle East, slower than expected economic growth prospects, and potential changes in industry regu-

lations will continue to shape today’s business environment. Internally, the company also faced operational challenges with the unplanned downtimes of a couple of our conventional plants which affected our earnings in the first half of the year,” said Vivant CEO Arlo G. Sarmiento. Consolidated revenues reached P7.6 billion at end-June this year, compared with P5.4 billion in the same period a year ago. Power generation sales, which remained the primary revenue source, jumped 53 percent to P6.3 billion, driven by six subsidiaries. Meanwhile, revenues from the concession assets of Isla Mactan Cordova Corp. (IMCC) and 81-per-

cent-owned Puerto Princesa Wastewater Reclamation and Learning Center Inc. (PPWRLC) reached P270 million. Water services revenues generated from the operations of IMCC, PPWRLC, and majority owned water distribution subsidiaries Bantayan Resource Management and Development Corp. and Bantayan Island Water Solutions Corp. amounted to P56 million. The energy business contributed P1.3 billion to the company’s net income, of which P853 million came from power generation. The power distribution business contributed P553 million. However, its energy retail business posted a P118-million net loss due to lower average selling

prices from its retail electricity supply (RES) business. Vivant’s portfolio of plants-which includes coal, oil, and solar assets--has a total gross installed capacity of 1,1176 MW. About 471 MW of which is attributable to the company to date. Total sales volumes across all these plants reached 2,132 gigawatt hours (GWh), 7 percent higher than in 2025. The company said it continues to take strides in building its renewable energy (RE) portfolio with recent milestones in its business development initiatives, moving a step closer to its goal of having a 30-percent RE share in its total attributable capacity by 2030. Samar Philippines Renewable

Corp. (SPRC) is developing a 200MW wind farm in Northern Samar targeted to be completed by 2028. In June 2026, Vivant Energy, through its wholly-owned subsidiary Vivant Renewable Energy Corp. (VREC), acquired 100 percent of SPRC from Envision Energy Power Corp. San Ildefonso Alternative Energy Corp. (SIAEC), the project company for a 22-MW solar power plant facility in San Ildefonso, Bulacan, has begun the testing and commissioning of its plant in July 2026. SIAEC is a wholly-owned subsidiary of Vivant Energy. “Despite softer overall results from our energy business, we see bright spots across our businesses. The diversified nature of the Vivant

portfolio cushioned the earnings impact in the first half of 2026. We have power generation assets that continue to perform well, both on grid and off grid. Our maiden solar facility has positively contributed to net income, and we expect our RE portfolio to expand further this year with the completion of new projects,” said Sarmiento. Minuel Carmela N. Franco, Vivant Corp. CFO, said the company is cognizant of existing and prospective headwinds. “Vivant continues to implement cost optimization measures to protect our bottom line. Furthermore, the company remains to have a strong balance sheet that enables us to support current operations as well as invest in expansion projects.”

‘GOVT NEEDS MORE TIME FOR SEMIRARA COAL MINE AUCTION’

HE Department of Energy (DOE) has again rescheduled the planned auction of the Semirara coal mine to the last quarter of the year. “We are hoping to do the bidding properly this year. It will be moved from the original schedule, which was supposed to be around September. It will be moved at least two more months,” said Energy Secretary Sharon Garin told reporters. Garin said the DOE has yet to finalize the updated bidding terms of the coal auction since consultations are simultaneously taking place with the Departments of Finance, the Economy, Planning, and Development, and Environmental and Natural Resources. “We’re still doing the terms of reference… what conditions we want to impose on the winner, the deliverables, the government share, things like that. We have so many things to iron out. So, we’re just finishing up…I postponed it because we need to really study properly how do we treat greenfield in a coal bidding.” Consunji-led Semirara Mining and Power Corp. (SMPC) currently holds coal operating contract (COC) No. 5, which is among the coal blocks on Semir-

ara Island that will be auctioned off. The COC is valid until July 14, 2027. When asked about the immediate risks if operations temporarily halt while the bidding process is ongoing, taking into account the delays, Garin said SMPC primarily exports its coal supply, with only a small portion allocated to domestic power plants. “Therefore, the impact would be minimal.” She added that if the power grid experiences shortages and requires more coal during this transition, it can easily be procured from other local mining sites or imported. “It’s not like all of our coal power plants depend on Semirara. No, I don’t believe there will be any major disruption if that happens. That’s why we are also (rescheduling), that’s why we are reviewing the terms because we want to secure a larger share of Semirara’s output for local use,” said Garin. The delays also took into consideration Indonesia’s new statecontrolled export framework. The Philippines imports 95 percent of its coal, with Indonesia supplying 99 percent. Garin said the terms of reference for the coal auction must factor in international developments. Lenie Lectura

Arthaland gets SEC nod for preferred shares issuance

HE Securities and Exchange Commission (SEC) has approved the preferred share offering of Po-led property developer Arthaland Corp., which seeks to raise up to P3 billion. In its en banc meeting, the agency also approved the registration statement of Arthaland covering up to 4 million preferred shares, with an oversubscription option of up to 2 million shares. The preferred shares, which are cumulative, non-voting, nonparticipating, non-convertible and redeemable, will be offered at P500 per share. Arthaland expects to net around P2.96 billion, assuming the oversubscription option is fully exercised. Proceeds will be used for the completion of a property project, partial funding of the redemption of its outstanding Series D preferred shares, and for general corporate purposes. The offer period will run from September 14 to 18, in time for the issuance and listing of the preferred shares on the Main Board of the Philippine Stock Exchange on September 25, according to the latest timeline submitted to the SEC.

BDO Capital and Investment Corp. will serve as the sole issue manager, lead underwriter and lead bookrunner for the offer. Last May, Arthaland said it will not delay project launches as it was able to lock in the prices of some of the construction materials it uses for its developments. “We didn’t know there was going to be a war. But last year, we started working on the idea of how we could provide better material finishes to our buyer. And we found out that if we lock in prices and we partner with certain suppliers, we will be able to do it already. So, we’ve locked in some prices for three to five years,” said Oliver L. Chan, Arthaland executive vice president. He noted, however, that steel prices have gone up amid the ongoing conflict in the Middle East. “But I think as a developer in our business plan, we have already put in some, I would say, buffers in terms of our cost to be able to handle. And although steel is a major component of construction, there are a lot of major components as well, such as finishing which is a major part of construction.” VG Cabuag

SHARES SINK

Sanrio Co. shares tumbled as much as 20 percent, the most in more than 12 years, after the company’s first quarter operating income missed market estimates. The Hello Kitty owner reported ¥22.4 billion ($141 million) in first-quarter operating income on Monday, missing the Bloomberg Consensus of ¥23.4 billion. Photo shows products on products on display in New York City during the celebration of Hello Kitty's 45th birthday PHOTO BY ASTRID STAWIARZ/GETTY IMAGES/BLOOMBERG

Unfazed shoppers prop up SMIC earnings in Jan-June

By VG Cabuag

@villygc

M Investments Corp. (SMIC), the holding firm of the Sy Group, said its net income grew 8 percent to P45.9 billion in the first half from P42.6 billion last year, as sustained consumer demand and the strength of its diversified business model supported growth. Consolidated revenues in January to June inched up by 6 percent to P339.2 billion from P319.2 billion in the same period last year. “Consumer spending in our retail stores and malls remained healthy despite recent economic shocks,” Frederic C. DyBuncio, SMIC president and CEO, said. “The Filipino consumer was tested during the first half of the year but our businesses proved to be resilient. Steady demand across our consumerled businesses plus solid contributions from our portfolio companies continue to reflect the strength of our diversified business model. This gives us the confidence to keep investing for long-term growth.” In terms of net income, banking contributed 47 percent followed by property at 27 percent; retail, 15 percent; and portfolio investments, 11 percent.

SM Retail’s net income was up 5 percent year-on-year to P8.9 billion while operating income rose by 12 percent year-on-year to P14 billion. “This demonstrates the company’s ability to efficiently manage expenses amid a higher inflation environment.” Growth was also broad-based, driven by resilient consumer demand for everyday essentials and the continued expansion of the group’s store network. Food retail posted steady sales growth across its supermarket and minimart chain formats. Specialty retail registered higher sales, driven by the home, other fashion and kids categories. Growth in the home category was due to sustained demand for power source alternatives. In the other fashion category, growth was led by Kultura and Crocs. The kids category was

bolstered by spending on toys, pets and stationery. As the group’s largest consumerfacing business, the unlisted SM Retail business contributes significantly to recurring cash flows at the parent level. Consumer demand was equally evident in the group’s mall business, where revenues grew 8 percent to P41. 8 billion on the combined effect of higher occupancy, stronger tenant sales and improved operational efficiency. Portfolio investments delivered a stronger performance, driven by a turnaround in Atlas Consolidated Mining and Development Corp., buoyed by higher copper prices. Courier 2GO Group Inc. recorded revenue growth across all categories, supported by higher passenger volumes in the travel segment and higher volumes in the logistics category from online purchases. Philippine Geothermal Production Company, Inc. revenues increased amid adjustments in energy prices. “We remain positive about the outlook for the second half of the year, while staying mindful of macroeconomic uncertainties,” DyBuncio said. “Our diversified portfolio, prudent balance sheet and disciplined approach to capital allocation position us well to continue investing in the Philippines and creating longterm value for our customers, communities and shareholders.”

ACEN inks loan deal with unit

CEN Cor p. executed a short-term loan agreement with its wholly owned subsidiary Giga Ace 6 Inc. for up to P1 billion. Giga Ace 6 is the project company for the 344.5-megawatt (MW) Quezon North Wind power project in Quezon Province. In October last year, ACEN also extended P900 million to partly finance the subsidiary’s onshore wind power project in Quezon province. This was on top of the P34.41 billion loan secured by Giga Ace 6 to partly finance the proposed wind power project which will be done in phases. The target completion of the first phase, with an estimated capacity of 344-megawatt peak (MWp), is in late 2026. The second phase, possibly 208 MW, may be completed by 2028. ACEN disclosed in October last year its investment into the Quezon North Wind power project phases 1 and 2, including supporting infrastructure and transmission/connection assets. The listed energy platform of the Ayala Group reported an increase of 411 percent in net income at endJune this year to P3.9 billion, driven by a 21-percent rise in renewable energy generation to 4,024 gigawatt hours (GWh). The company’s attributable renewables portfolio expanded to 7,517 MW, with 57 percent of the portfolio now operational.Lenie Lectura

Companies BusinessMirror

Thursday, August 13, 2026

PSE STOCK QUOTATIONS

August 12, 2026

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL DOMINION HLDG FIRST ABACUS FERRONOUX HLDG MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

48.95 126.5 10.4 107 53.5 11.08 67.15 6.92 14.78 61.85 52.4 23 67.6 25.45 0.49 1.31 12.72 0.55 4.22 0.093 2,500 0.95 206 4,800

49.75 127 10.48 107.5 53.55 11.16 67.25 7 14.8 62.4 52.8 23.25 68 25.5 0.5 1.34 12.8 0.56 4.38 0.1 2,580 0.97 207.6 4,850

49 125.6 10.48 103.1 53.95 11.18 67 7 14.8 62.45 52.5 23 68.2 25.5 0.52 1.34 12 0.55 4.6 0.099 2,500 0.96 205 4,800

49.75 127.4 10.48 107.9 54 11.18 67.8 7 14.8 62.45 52.8 23 68.4 25.5 0.52 1.34 13 0.55 4.6 0.109 2,500 0.96 207.4 4,800

48.6 124.5 10.38 102.7 53.5 11.06 66.7 7 14.8 61.75 52.25 23 67.55 25.3 0.5 1.34 11.74 0.55 4.15 0.093 2,500 0.95 205 4,800

49.75 127 10.46 107.5 53.55 11.08 67.15 7 14.8 62.4 52.8 23 67.6 25.45 0.5 1.34 12.8 0.55 4.38 0.105 2,500 0.95 206 4,800

33,400 2,818,870 9,500 4,338,120 493,470 790,300 2,939,670 8,400 400 91,400 680 9,000 51,230 28,200 221,000 1,000 5,588,600 95,000 76,000 140,000 10 88,000 10,760 2,005

1,634,635 357,029,228 98,978 460,283,939 26,524,314 8,787,540 197,598,932 58,800 5,920 5,681,350 35,873 207,000 3,485,882 717,730 110,580 1,340 68,866,112 52,250 323,590 14,360 25,000 84,200 2,207,732 9,624,000

4,885 26,824,153 83,715,703 -6,256,752 3,956,624 15,364,693 56,000 803,210 528 142 -45,900 2,000 14,621,192 -4,600 -990 12,500 2,182,984 9,576,000

INDUSTRIAL

ACEN CORP 3 3.01 3.1 ALSONS CONS 0.75 0.76 0.75 ALTERNERGY HLDG 0.76 0.77 0.78 ABOITIZ POWER 44.75 45 44.35 RASLAG 1 1.01 0.99 BASIC ENERGY 0.114 0.115 0.114 CITICORE RE 4.39 4.47 4.46 FIRST GEN 27.35 27.4 21.5 FIRST PHIL HLDG 94.35 95 90.45 MERALCO 487.8 488 486 MANILA WATER 33.95 34.3 34.95 MAYNILAD 18.3 18.4 18.14 PETRON 2.3 2.32 2.31 PETROENERGY 3.51 3.69 3.57 PRYCE CORP 14.82 15 14.82 REPOWER ENERGY 9.05 9.5 9.45 SEMIRARA MINING 18.44 18.58 18 SYNERGY GRID 27.95 28 27.8 SHELL PILIPINAS 8.9 9.1 9 SPC POWER 9.91 9.92 9.93 SP NEW ENERGY 1.25 1.26 1.29 TOP LINE 1.74 1.75 1.73 VIVANT 19.18 20.65 19.18 AXELUM 2.82 2.85 2.85 BALAI FRUITAS 0.31 0.32 0.32 CENTURY FOOD 33.45 33.75 32.9 DEL MONTE 3.8 3.85 3.78 DNL INDUS 3.55 3.58 3.55 EMPERADOR 15.24 15.5 15.5 SMC FOODANDBEV 48.55 48.6 48.7 FIGARO GROUP 0.62 0.64 0.66 FRUITAS HLDG 0.68 0.69 0.69 GINEBRA 243.6 245.8 250 JOLLIBEE 153.8 154.2 156 KEEPERS HLDG 1.86 1.88 1.86 LIBERTY FLOUR 22.6 23.2 22.25 MAXS GROUP 2.07 2.1 2.1 MONDE NISSIN 7.23 7.25 7.16 SHAKEYS PIZZA 5.91 5.95 5.97 ROXAS AND CO 2.16 2.24 2.15 RFM CORP 5.31 5.32 5.32 SWIFT FOODS 0.047 0.051 0.05 UNIV ROBINA 61.4 61.45 61.5 VITARICH 0.495 0.5 0.5 ATN HLDG A 0.415 0.43 0.415 ATN HLDG B 0.41 0.415 0.415 CONCRETE A 51.4 57.7 51.4 CONCREAT HLDG 1.05 1.06 1.07 EEI CORP 1.95 1.97 1.95 MEGAWIDE 4.53 4.58 4.51 PHINMA 14.9 15 15 CROWN ASIA 1.88 1.9 1.94 CONCEPCION 11.08 11.26 11.28 GREENERGY 0.156 0.159 0.165 INTEGRATED MICR 7.14 7.15 7.4 IONICS 1.48 1.49 1.53 PANASONIC 7.45 7.48 7.69 CIRTEK HLDG 1.15 1.17 1.17 STENIEL 2.01 2.1 2.1

3.1 0.79 0.78 45.15 1.01 0.116 4.47 31 100 496 35 18.4 2.33 3.9 14.82 9.5 18.88 28.15 9.19 9.93 1.29 1.74 19.18 2.87 0.32 33.75 3.86 3.58 15.66 48.7 0.67 0.69 250 156.4 1.88 23.5 2.1 7.27 5.97 2.16 5.33 0.051 61.9 0.5 0.415 0.415 51.4 1.07 1.95 4.63 15 1.94 11.28 0.166 7.4 1.57 7.69 1.24 2.1

2.99 0.74 0.75 44 0.99 0.114 4.38 21.5 90.05 480 33.95 18 2.3 3.57 14.7 9.45 17.88 27.35 8.9 9.8 1.24 1.7 19.18 2.84 0.32 32.9 3.78 3.53 15.18 48.45 0.6 0.67 242 153 1.86 22.25 2.07 7.03 5.97 2.15 5.3 0.05 61.1 0.49 0.415 0.415 51.4 1.04 1.95 4.5 15 1.87 11.08 0.157 7.15 1.48 7.48 1.1 2.1

3 0.76 0.77 45 1 0.115 4.47 27.35 94.35 488 33.95 18.3 2.3 3.69 14.82 9.5 18.44 27.95 8.9 9.91 1.26 1.74 19.18 2.86 0.32 33.75 3.8 3.55 15.24 48.6 0.64 0.67 245.8 154.2 1.87 23.2 2.07 7.23 5.97 2.15 5.31 0.051 61.45 0.5 0.415 0.415 51.4 1.05 1.95 4.58 15 1.9 11.08 0.16 7.15 1.49 7.48 1.17 2.1

15,160,000 2,145,000 593,000 3,064,800 190,000 17,620,000 92,000 20,707,600 470,160 253,450 2,572,800 2,515,300 659,000 27,000 33,300 700 3,807,600 1,221,600 313,200 496,900 17,270,000 1,429,000 2,200 265,000 50,000 837,500 13,000 2,265,000 2,787,600 87,600 3,407,000 33,000 54,940 704,730 1,594,000 1,100 110,000 2,285,300 1,400 38,000 495,800 2,900,000 711,170 518,000 100,000 100,000 20 2,672,000 20,000 929,000 3,100 1,147,000 1,500 1,570,000 2,232,300 2,285,000 5,900 10,833,000 10,000

45,824,190 1,621,040 448,870 137,702,290 190,540 2,009,520 407,510 543,025,245 45,196,951 123,691,714 87,873,630 45,796,688 1,521,440 100,030 489,786 6,620 70,124,370 34,079,885 2,814,556 4,913,047 21,608,970 2,450,570 42,196 752,920 16,000 28,152,730 49,420 8,050,040 42,532,754 4,255,065 2,137,040 22,230 13,483,118 108,838,860 2,978,730 25,495 229,060 16,417,827 8,358 81,790 2,634,088 146,800 43,696,490 258,910 41,500 41,500 1,028 2,798,360 39,000 4,225,710 46,500 2,168,320 16,838 257,830 16,164,830 3,474,670 44,529 12,909,800 21,000

-5,428,890 197,820 -9,270 43,420,910 10,230 -47,880 74,480 -55,980,190 2,582,240 -10,565,640 11,758,280 -5,454,006 638,100 -3,570 -441,060 17,624,356 -1,872,785 346,087 3,867,111 -2,869,050 -752,910 51,400 -6,400 5,273,565 -1,153,960 -12,587,712 -3,488,000 -14,950 -690 -3,135,150 23,073,431 240,450 -6,960 104,500 -1,735,963 -6,567 2,160 -956,521 -10,148,465 -52,500 -342,080 -587,747 -155,250 -416,110 -

HOLDING & FRIMS

ABACORE CAPITAL 0.325 0.33 0.325 0.335 0.325 0.325 3,000,000 983,200 -100,800 ASIABEST GROUP 53.25 53.5 54 54.5 53.25 53.5 439,480 23,600,703 16,750,868 AYALA CORP 509 512 505 513 505 512 147,350 75,301,700 25,647,755 ABOITIZ EQUITY 36.5 36.8 36 37 35.9 36.8 2,322,500 85,329,415 8,075,435 ALLIANCE GLOBAL 9.11 9.14 9 9.18 9 9.11 1,362,400 12,318,183 -4,040,366 ANSCOR 17 17.38 17.06 17.06 17 17.06 2,500 42,608 -20,508 ANGLO PHIL HLDG 1.04 1.09 1.27 1.3 1.04 1.04 5,126,000 5,839,890 -1,549,400 COSCO CAPITAL 8.08 8.09 8.08 8.09 7.97 8.08 489,700 3,928,691 800,739 DMCI HLDG 8 8.05 7.62 8.07 7.62 8 8,432,000 66,798,420 7,381,873 FILINVEST DEV 3.5 3.6 3.41 3.6 3.41 3.6 91,000 318,850 -14,160 FJ PRINCE A 2.18 2.61 2.63 2.63 2.63 2.63 2,000 5,260 FJ PRINCE B 2.18 2.91 2.91 2.91 2.91 2.91 1,000 2,910 GT CAPITAL 510 510.5 497 514 497 510 243,020 123,790,752 -131,784 HOUSE OF INV 4.95 5.14 5.14 5.14 5.14 5.14 2,300 11,822 -5,140 JG SUMMIT 23 23.1 22.45 23 22.25 23 1,831,800 41,862,680 -2,733,010 LODESTAR 0.34 0.35 0.345 0.35 0.33 0.35 60,000 20,350 LOPEZ HLDG 6.45 6.48 5.95 6.6 5.95 6.48 11,876,200 74,557,463 2,539,625 LT GROUP 14.84 14.88 14.8 15 14.78 14.84 3,625,500 54,146,762 7,339,126 PACIFICA HLDG 0.77 0.83 0.83 0.83 0.83 0.83 17,000 14,110 -830 PRIME MEDIA 0.79 0.86 0.83 0.86 0.76 0.86 56,000 46,840 SOLID GROUP 1.18 1.2 1.2 1.2 1.18 1.18 19,000 22,480 -5,900 SM INVESTMENTS 617 618 603 620 603 618 590,960 362,710,090 27,716,990 SAN MIGUEL CORP 65 65.4 63.8 65.4 63.75 65 62,160 4,021,490 -578,246 TOP FRONTIER 56.2 58.4 54.95 59.95 54.95 56.2 3,400 194,829 -30,494 ZEUS HLDG 0.063 0.066 0.065 0.065 0.063 0.063 110,000 6,970 PROPERTY ARTHALAND CORP 0.445 0.475 0.425 0.49 0.425 0.49 1,220,000 527,650 4,250 AYALA LAND 15.88 15.98 16.1 16.32 15.76 15.88 5,867,900 93,418,522 -12,902,550 AYALA LAND LOG 1.2 1.21 1.21 1.27 1.18 1.21 624,000 753,750 2,380 ALTUS PROP 10.62 11 10.68 10.68 10.62 10.62 7,900 84,198 AREIT RT 38.1 38.25 38.4 38.6 38.05 38.1 752,200 28,758,315 -8,970,185 A BROWN 0.7 0.72 0.73 0.73 0.67 0.71 310,000 212,420 2,490 CITYLAND DEVT 0.61 0.62 0.61 0.62 0.61 0.61 143,000 88,090 CROWN EQUITIES 0.085 0.086 0.085 0.085 0.085 0.085 170,000 14,450 CEB LANDMASTERS 2.17 2.2 2.18 2.2 2.17 2.2 1,118,000 2,459,120 2,105,210 CENTURY PROP 0.74 0.76 0.76 0.76 0.74 0.75 910,000 680,840 -31,500 CITICORE RT 3.37 3.38 3.38 3.4 3.37 3.38 1,032,000 3,489,090 -40,010 DOUBLEDRAGON 11.9 12.1 12.06 12.1 11.88 12.1 768,600 9,237,330 -695,566 DDMP RT 1.03 1.04 1.04 1.04 1.03 1.04 3,930,000 4,085,880 -3,120 DM WENCESLAO 4.8 5.15 5 5.15 5 5.15 10,100 51,620 36,475 EVERWOODS 0.026 0.029 0.026 0.029 0.026 0.029 300,000 8,100 EMPIRE EAST 0.097 0.099 0.099 0.099 0.096 0.097 1,450,000 140,550 -970 FILINVEST RT 2.97 2.98 2.97 2.98 2.97 2.98 407,000 1,211,370 53,640 FILINVEST LAND 0.69 0.7 0.71 0.71 0.7 0.7 1,248,000 875,740 21,830 GLOBAL ESTATE 0.58 0.61 0.6 0.6 0.6 0.6 4,000 2,400 -600 KEPPEL PROP 2.5 2.57 2.5 2.58 2.5 2.58 11,000 27,580 MEGAWORLD 2.3 2.31 2.27 2.31 2.25 2.3 14,376,000 33,000,770 6,358,560 MRC ALLIED 0.7 0.71 0.7 0.71 0.69 0.71 22,399,000 15,786,070 -1,420 MREIT RT 14.3 14.32 14.3 14.32 14.24 14.32 609,700 8,716,996 4,379,048 OMICO CORP 0.097 0.102 0.102 0.102 0.097 0.097 550,000 55,500 PRMIERE HORIZON 0.15 0.153 0.15 0.153 0.15 0.153 140,000 21,130 -3,040 PHIL ESTATES 0.36 0.375 0.35 0.375 0.35 0.375 60,000 21,250 -17,750 PREMIERE RT 1.06 1.08 1.07 1.08 1.06 1.08 85,000 91,040 PRIMEX CORP 0.92 0.96 0.94 1 0.94 0.96 12,000 11,770 -4,850 RL COMM RT 7.23 7.25 7.27 7.28 7.2 7.23 2,523,100 18,258,420 -2,972,268 ROBINSONS LAND 17.2 17.3 16.72 17.38 16.72 17.3 1,260,600 21,686,612 12,279,934 PHIL REALTY 0.088 0.094 0.084 0.084 0.084 0.084 20,000 1,680 ROCKWELL 2.97 3 2.98 3.03 2.95 3 443,000 1,328,520 102,300 SHANG PROP 3.18 3.25 3.27 3.27 3.18 3.18 46,000 147,910 18,650 STA LUCIA LAND 1.9 2.04 2.05 2.05 2.05 2.05 1,000 2,050 SM PRIME HLDG 19.4 19.58 19.1 19.8 19.1 19.58 5,425,900 106,142,384 53,027,360 SUNTRUST RESORT 0.405 0.42 0.41 0.42 0.405 0.405 70,000 28,750 -4,200 SERVICES ABS CBN 4.1 4.11 3.69 4.11 3.66 4.11 3,815,000 14,995,440 GMA NETWORK 4.47 4.48 4.46 4.55 4.46 4.48 218,000 984,260 MLA BRDCASTING 5.11 5.49 5.11 5.11 5.11 5.11 100 511 DITO CME HLDG 0.76 0.77 0.75 0.78 0.74 0.77 11,668,000 8,927,740 2,598,110 GLOBE TELECOM 1,770 1,774 1,757 1,779 1,745 1,770 59,955 105,794,205 -41,376,990 PLDT 1,220 1,223 1,217 1,224 1,215 1,220 44,690 54,485,960 -9,178,500 APOLLO GLOBAL 0.0061 0.0062 0.0062 0.0063 0.0061 0.0062 102,000,000 628,500 CONVERGE 9.83 9.89 10.18 10.44 9.8 9.83 40,984,400 409,328,941 -13,958,809 EASYCALL 2.29 2.4 2.3 2.4 2.29 2.4 3,000 6,990 -110 ISLAND INFO 0.124 0.125 0.136 0.136 0.12 0.124 13,220,000 1,641,790 95,980 NOW CORP 0.49 0.5 0.51 0.51 0.5 0.5 295,000 147,570 TRANSPACIFIC BR 0.115 0.117 0.115 0.117 0.115 0.117 1,060,000 122,020 CHELSEA 0.81 0.83 0.88 0.88 0.79 0.83 1,128,000 913,130 -33,600 CEBU AIR 28.65 28.9 28.65 29 28.65 28.65 19,600 563,235 -29,255 INTL CONTAINER 980 980.5 997.5 999 957 980 1,049,220 1,024,747,440 -223,345,120 LBC EXPRESS 6.55 7.06 6.54 6.55 6.54 6.54 400 2,617 1,308 LORENZO SHIPPNG 0.66 0.7 0.7 0.7 0.7 0.7 53,000 37,100 -4,200 MACROASIA 3.81 3.83 3.83 3.83 3.8 3.81 211,000 804,840 354,900 PAL HLDG 2.13 2.14 2.1 2.13 2.07 2.13 208,000 437,740 42,230 HARBOR STAR 1.08 1.1 1.14 1.14 1.08 1.1 718,000 785,530 64,400 BOULEVARD HLDG 0.03 0.031 0.032 0.033 0.03 0.03 74,700,000 2,269,700 11,700 DISCOVERY WORLD 0.86 0.92 0.91 0.92 0.91 0.92 2,000 1,830 -910 GRAND PLAZA 5.02 5.03 5.02 5.02 5.02 5.02 5,000 25,100 WATERFRONT 0.39 0.395 0.395 0.4 0.38 0.38 190,000 74,250 7,800 CENTRO ESCOLAR 14.78 15 15 15 15 15 100 1,500 FAR EASTERN U 800 805 800 800 800 800 200 160,000 IPEOPLE 7.3 7.34 7.27 7.34 7.27 7.34 105,300 767,963 759,198 STI HLDG 1.21 1.23 1.22 1.22 1.21 1.21 440,000 533,050 175,720 BELLE CORP 1.17 1.19 1.19 1.19 1.16 1.17 889,000 1,038,530 -12,100 BLOOMBERRY 2.12 2.13 2.07 2.12 2.04 2.12 6,462,000 13,511,130 -1,834,050 PACIFIC ONLINE 1.71 1.84 1.84 1.84 1.84 1.84 4,000 7,360 DIGIPLUS 10 10.1 10.22 10.36 9.96 10 4,779,200 48,490,412 8,845,544 PHILWEB 14.56 14.58 13.82 14.68 13.74 14.58 9,397,600 134,658,528 -17,716,690 METRO RETAIL 1.05 1.08 1.07 1.08 1.04 1.08 38,000 40,250 7,380 PUREGOLD 41.05 41.3 40.95 41.4 40.6 41.05 1,267,400 52,074,095 -28,663,045 PHIL SEVEN CORP 33.05 33.8 33.95 34 33 33.05 187,900 6,383,195 237,925 SSI GROUP 2.03 2.04 2.03 2.03 2.02 2.03 23,000 46,480 42,420 UPSON INTL CORP 0.68 0.7 0.69 0.7 0.69 0.7 65,000 44,880 WILCON DEPOT 5.84 5.85 5.96 6.03 5.75 5.84 1,297,000 7,549,862 2,433,268 APC GROUP 0.102 0.113 0.101 0.113 0.101 0.113 580,000 58,710 MEDILINES 0.22 0.223 0.224 0.224 0.21 0.21 120,000 26,140 PAXYS 2.56 2.81 2.51 2.86 2.51 2.81 198,000 551,050 82,010 SBS PHIL CORP 3.23 3.33 3.09 3.23 3 3.23 39,000 122,800 -6,580 MINING & OIL ATOK 1.78 1.85 1.85 1.85 1.85 1.85 13,000 24,050 APEX MINING 14.96 15.04 15.28 15.58 14.96 14.96 5,672,400 86,400,660 -1,490,748 ATLAS MINING 16.04 16.1 16.08 16.66 16.04 16.04 5,155,000 84,052,954 439,650 BENGUET A 6.82 7.03 6.8 7.2 6.8 6.81 547,300 3,817,123 BENGUET B 6.8 6.99 6.68 6.8 6.68 6.8 86,200 586,086 CENTURY PEAK 1.83 2.09 2 2.09 1.61 2.09 261,000 467,370 432,040 DIZON MINES 3.8 4.45 3.8 4 3.6 4 31,000 119,550 FERRONICKEL 2.11 2.16 2.07 2.16 2.04 2.16 1,393,000 2,901,580 -1,377,630 GEOGRACE 0.091 0.098 0.101 0.109 0.09 0.098 3,680,000 380,020 32,140 LEPANTO A 0.237 0.238 0.243 0.248 0.234 0.237 60,380,000 14,368,810 LEPANTO B 0.237 0.238 0.241 0.247 0.237 0.237 8,940,000 2,146,830 -161,470 MANILA MINING A 0.0073 0.008 0.0075 0.008 0.0075 0.008 10,000,000 76,300 MANILA MINING B 0.0072 0.008 0.0077 0.008 0.0077 0.008 65,000,000 519,500 MARCVENTURES 0.7 0.71 0.72 0.73 0.7 0.71 440,000 313,640 -57,610 NIHAO 0.33 0.375 0.365 0.365 0.3 0.33 22,640,000 6,886,200 -6,643,350 NICKEL ASIA 4.24 4.25 4.28 4.28 4.15 4.25 2,993,000 12,575,810 1,949,330 OCEANAGOLD 36.85 37.45 35.9 37.45 35.7 37.45 1,450,100 52,961,370 22,182,900 PX MINING 10.52 10.54 10.16 10.54 10.16 10.54 7,105,800 73,959,316 -7,841,698 UNITED PARAGON 0.0075 0.0076 0.0078 0.0078 0.0076 0.0076 20,000,000 152,200 ENEX ENERGY 3 3.07 3.06 3.07 3.06 3.07 25,000 76,740 73,670 ORNTL PETROL A 0.013 0.014 0.013 0.013 0.013 0.013 5,500,000 71,500 PHILODRILL 0.0079 0.0081 0.008 0.008 0.008 0.008 4,000,000 32,000 PXP ENERGY 2.7 2.76 2.67 2.8 2.65 2.7 1,205,000 3,299,730 53,420 PREFFERED AC PREF AR 2,456 2,498 2,470 2,498 2,470 2,498 270 668,160 AC PREF B3R 1,949 1,965 1,950 1,955 1,949 1,949 425 828,640 AC PREF B4R 1,948 1,969 1,958 1,958 1,953 1,953 325 635,475 BRN PREF A 99 100 100 100 100 100 2,820 282,000 BRN PREF C 103.8 103.9 104 104 103.9 103.9 220 22,870 CEB PREF 30.1 30.5 30.15 30.15 30.1 30.1 2,500 75,350 CPG PREF B 98.1 99 98.2 98.2 98 98 2,000 196,200 DD PREF 93.3 93.35 93.35 93.35 93.2 93.35 36,680 3,421,678 FDC PREF A 950 990 989 990 989 990 20 19,790 GLO PREF BNV 2,006 2,014 2,010 2,010 2,010 2,010 55 110,550 MWIDE PREF 6B 101.1 102.5 102.5 102.5 102.5 102.5 20,000 2,050,000 MWIDE PREF 7A 100 101.5 100 101.5 100 101.5 30 3,030 PCOR PREF 4C 985 989.5 990 990 990 990 60 59,400 PCOR PREF 4E 999 1,000 999 999 999 999 150 149,850 SMC PREF 2O 78.5 78.95 78.95 78.95 78.95 78.95 6,510 513,965 SMC PREF 2P 73 74.95 74 74.95 74 74.95 9,920 734,118 SMC PREF 2Q 74 74.95 74 74.95 74 74.95 10,180 753,510 SMC PREF 2R 74.9 77 77 77 77 77 10 770 SMC PREF 2S 74.1 75 74 74.1 74 74.1 20 1,481 SMC PREF 2U 76.25 77 76.95 77 76.95 77 7,270 559,443 SMC PREF 2V 79.3 79.35 79.4 79.4 79.3 79.3 650 51,552 SMC PREF 2W 79.45 79.5 79.45 79.45 79.45 79.45 160 12,712 SMC PREF 2X 79.8 80 80.2 80.2 80 80 12,520 1,001,602 TOP PREF A1 100 100.4 100 100 100 100 1,220 122,000 TOP PREF A2 100.9 101.8 100.9 101.8 100.9 101.8 50 5,054 2,018

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

AGI WARRANT

3.43 3.59 3.19 3.65 3.19 3.43 175,000 606,910 4.19 4.39 4.39 4.39 4.39 4.39 1,000 4,390

1.05

SM A L L, M ED I U M & EM E R G IN G

CTS GLOBAL HAUS TALK ITALPINAS XURPAS NEXGEN ENERGY

0.35 1.36 0.66 0.19 2.7

1.12

1.05

1,000

1,050

0.355 1.37 0.7 0.194 2.75

0.36 1.36 0.68 0.19 2.58

0.36 1.49 0.71 0.19 2.72

0.35 1.36 0.68 0.181 2.57

0.35 1.37 0.7 0.181 2.72

170,000 1,725,000 259,000 190,000 6,000

59,700 2,396,830 180,310 35,740 15,880

10,500 -1,030,800 -690 -5,440

EXHANGE TRADE FUNDS FIRST METRO ETF

105

-85,950 -

107

106.5 107 105.9 107 17,200 1,827,628 64,960

www.businessmirror.com.ph

JG Summit profit plummets on oil shock, petrochem unit

By VG Cabuag

@villygc

G Summit Holdings Inc., the holding firm of the Gokongwei Group, said its net income fell 29 percent to P10.7 billion in the first half from the previous year’s P14.99 billion, mainly due to the losses incurred by its discontinued petrochemical operations.

Core net income during the period fell 37 percent year-on-year to P13 billion due to the airline’s weak performance which grappled with oil price shocks. JG Summit also booked a higher interest expense at the parent level after it absorbed the debt of its pet-

rochemical subsidiary. Consolidated revenues for the period rose 7 percent to P200 billion from the previous year’s P194.01 billion. This was driven by broad-based growth in its real estate arm, resilient topline expansion in its branded food and animal nutrition businesses, and

more passengers flown by its airline even as fares increased. “Our first-half results reflect the underlying resilience of our diversified portfolio—with 7 percent topline growth carried by our broad-based property gains and resilient food business, alongside our airline which benefitted from healthy passenger volumes despite higher fares. Our businesses sustain their efforts to proactively mitigate the impact of higher costs and softening consumer demand,” said JG Summit President and CEO Lance Y. Gokongwei. For the rest of the year, Gokongwei said the company still expects “profitability challenges” to persist, particularly for its airline, as fuel prices remain elevated and expectations of a “leaner” travel season in the third quarter. “At the same time, these infla-

tionary pressures create further uncertainty on consumer spending and topline growth in the near term. Nonetheless, we remain committed to protecting long-term value for our shareholders while being realistic and proactive in improving our performance amidst the challenging economic backdrop.” The company said its share in Manila Electric Co.’s net income grew 15 percent to P7.1 billion, led by stronger power generation earnings, especially from LNGPH, a major integrated liquefied natural gas import, regasification, and gas-to-power complex located in Batangas. Equity income from Singapore Land Group rose 61 percent to P2.3 billion, boosted by higher contributions from property investments and its share of associate profits from real estate development.

Metals rally lifts Apex Mining income

PEX Mining Co. Inc. said Wednesday its consolidated net income jumped by 68 percent to P5.39 billion in the first half from P3.2 billion a year ago due to the silver and gold price rally. In the second quarter alone, the group’s consolidated net income rose to P2.57 billion from the P1.71 billion recorded in the same period last year. Apex Mining, the parent company, recorded a net income of P2.07 billion in the second quarter, higher than last year’s P1.56 billion. Its subsidiary, Itogon-Suyoc Resources Inc. (ISRI), recorded profits of P504.41 million in the same quarter, a jump from last year’s P171.93 million. With two operating mines, Apex Mining derives its revenues from the sale of gold and silver. In the first six months of 2026, the company sold 43,215 ounces of gold, 16 percent lower than the previous year’s 51,436 ounces. Apex Mining’s Maco Mine also logged lower mill grades during the period, with gold at 2.46 grams per ton (gpt) compared with last year’s 3.26 gpt and silver at 10.89 gpt, lower than last year’s 14.72 gpt. The lower mill grades for both metals was a result of mining in lean zone areas while moving towards the deeper, higher-grade zones. On a quarter-on-quarter comparison, gold sold in the second quarter is 12 percent lower at 22,861 ounces compared with the 26,074 ounces recorded in 2025.

The low volume of gold was offset by the realized price of gold which surged by 49 percent to $4,656 per ounce from last year’s $3,121. Total ounces of silver sold also declined by 22 percent to 154,946 ounces from 197,925 ounces a year ago. Its average price, however, more than doubled to $77.67 per ounce from only $33.18 in April to June 2025. Despite lower volumes sold in January to June, Apex Mining the consolidated excise taxes it paid to the national government rose to P536.59 million from P363.42 million in the same period of 2025. Indigenous peoples (IP) surface rights royalty, IP royalty, and taxes, licenses and permits also collectively went up by 43 percent year-on-year to P103.89 million. “Through the ups and downs of our business, we remain committed to the welfare of our host communities and LGUs as well as our partner IPs,” said Apex Mining President and CEO Luis R. Sarmiento. Sarmiento also noted that the consolidated expense for the Social Development and Management Program also increased as it is computed at 1.5 percent of the preceding year’s total operating costs. The higher operating cost base in the previous year resulted in a corresponding increase in SDMP expense during the current period.

Jonathan L. Mayuga

Cebu Landmasters H1 income slides by 19%

EBU Landmasters Inc. (CLI), the regional residential developer in the Visayas and Mindanao, on Wednesday said its income fell 19 percent to P2 billion in the first half from P2.49 billion last year, as regulatory changes impeded its project launches during the period. The company said its income last year carried a one-time gain of P400 million, from the sale of an investment property. Excluding this disposal of investment assets, core performance remains stable with a slight decrease in net income attributable to the timing of new launches, it added. “I think residential homes are really what we call the safest; that’s what a Filipino will really work hard to protect. And how is it reflected in

CLI? We have only a 2.9 percent delinquency, meaning for every buyer we have only 2.9 percent is delinquent (in paying) or canceling,” said Jose Franco Soberano, the company’s newly appointed president and CEO. Total revenues were down by 1 percent to P10.2 billion, while real estate sales reached P9.7 billion, a decline of 2 percent year-on-year, largely reflecting the timing of licenses to sell (LTS) approvals that shifted planned project launches and the release of fresh inventory to the second half. Soberano said regulatory changes in LTS approvals—some of its regional projects needed to be reviewed and approved in Manila instead of the provincial offices— have pushed most of its projects to next year. VG Cabuag

MUTUAL FUNDS

August 12, 2026

NAV ONE YEARTHREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM GROWTH FUND, INC. -A218.89 0% 1.64% 0.38% -2.28% 2.24% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 2.2583 8.32% 15.67% 9.53% 4.68% 4.48% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 2.9048 -1.38% -0.01% -0.44% -4.15%1.89% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.777 2.61% 4.58% 1.05% N.A5.83% FIRST METRO CONSUMER FUND, INC. -A 0.5173 -13.07% -7.11% -6.73% N.A -6.98% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.4333 -3.89% -1.55% -1.44% -2.26% 1.38% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.6718 0.73% -0.92% -1.16% N.A4.54% MBG EQUITY INVESTMENT FUND, INC. -A 75.09 -4.78% -3.47% -5.09% N.A -16.06% PAMI EQUITY INDEX FUND, INC. -A 43.9434 3.13% 0.84% 0.06% -1.93% 6.25% PHILAM STRATEGIC GROWTH FUND, INC. -A 459.61 -0.21% 1.28% -0.1% -2.16% 2.24% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.6316 9.39% 11.65% 7.61% 2.06% 4.5% PHILEQUITY FUND, INC. -A37.1778 5.7% 3.34% 2.27% -0.25% 7.98% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 1.002 11.53% 5.45% 3.2% N.A 12.88% PHILEQUITY PSE INDEX FUND, INC. -A 4.7539 4.05% 1.93% 1.12% -1.02% 6.36% PHILIPPINE STOCK INDEX FUND CORP. -A 782 3.59% 1.53% 0.77% -1.25% 6.4% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7222 3.54% 2.01% 0.91% -2.65% 2.86% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.2571 -4.56% -0.95% -1.27% -2.76%1.48% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8768 3.4% 1.12% 0.41% -1.5%6.41% UNITED FUND, INC. -A3.5352.22% 4.65% 2.34% -0.11% 7.53% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.0984 3.57% 1.57% N.A N.A 6.34% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 1.0865 1.54% N.A N.A N.A 4.12% PHILEQUITY ALPHA ONE FUND, INC. -A 0.9466 -0.97% -2.67% -2.46% N.A 0.24% PHILIPPINE STOCK INDEX FUND CORP. -A 943.54 3.59% 1.32% N.A N.A 6.44% EXCHANGE TRADED FUND (SHARES) FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 106.6983 3.84% 1.79% 1.1% -0.82% 6.69% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.2322 31.22% 12.96% 0.51% 3.27% 20.27% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.4708 19.17% 15.98% 6.17% 8.96% 11.08% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) PHILEQUITY GLOBAL FUND, INC. -A,2 1.0792 N.A N.A N.A N.A N.A BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2132 3.79% 1.03% 0.36% -0.88% 3.41% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.7223 8.18% 5.44% 0.67% -0.75%5.26% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.5293 0.68% 0.39% -0.22% -0.67%2.73% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2326 1.79% 6.38% 4.53% N.A0.3% NCM MUTUAL FUND OF THE PHILS., INC. -A,1 2.0293 3.38% 1.15% 1.07% 0.39% 1.34% PAMI HORIZON FUND, INC. -A3.8177 2.54% 3.11% 1.02% -0.27% 0.73% PHILAM FUND, INC. -A16.128-0.33% 1.83% -0.16% -0.83% 0.74% SOLIDARITAS FUND, INC. -A2.146 1.64% 2.26% 1.15% 0.01% 2.18% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.4672 -1.08% 1.07% -0.1% -1.23%1.28% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9101 -1.93% 0.93% 1.03% -0.92% -0.07% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) BPI WEALTH BUILDER MULTI-ASSET MUTUAL FUND, INC. -A,3 10.73 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.983 1.05% 1.99% 0.26% N.A 0.43% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8482 -0.86% 0.43% -0.77% N.A 0.76% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.8207 -0.81% 0.03% -1.08% N.A 1.17% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03354 2.07% 0.95% -2.58% -0.74% -2.22% PAMI ASIA BALANCED FUND, INC. -B $1.168 -0.07% 8.81% 1.13% 2.18% -3.47% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $5.7035 12.37% 11.59% 3.53% 5.86%6.84% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.2086 5.23% 6.46% 0.35% 2.34%2.13% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A 423.93 2.67% 3.26% 2.58% 2.51% 0.94% ATRAM CORPORATE BOND FUND, INC. -A 1.9837 2.25% 1.21% 0.59% 0.41% 1.29% COCOLIFE FIXED INCOME FUND, INC. -A 3.6013 1.75% 3.05% 2.16% 3.21% 0.04% EKKLESIA MUTUAL FUND, INC. -A 2.4359 0.75% 3.08% 1.46% 1.31% -0.68% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.5059 -1.28% 1.35% 0.49% 1.09%-2.46% PHILAM BOND FUND, INC. -A4.5098 -0.53% 2.71% 0.04% 0.58% -2.17% PHILAM MANAGED INCOME FUND, INC. -A 1.5404 3.13% 4.57% 3.16% 2.93% 1.34% PHILEQUITY PESO BOND FUND, INC. -A 4.317 1.58% 3.07% 1.62% 1.7% 0.09% SOLDIVO BOND FUND, INC. -A1.1295 2.67% 2.88% 1.66% 1.6% 0.8% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.45 -1.72% 2.35% 1.38% 1.75% -2.56% SUN LIFE PROSPERITY GS FUND, INC. -A 1.8306 -1.52% 2% 0.87% 1.15% -2.86% CORPORATE DEBT VEHICLE (UNITS) ATRAM UNITIZED CORPORATE DEBT FUND 2 -A,5 1.0056 N.A N.A N.A N.A N.A PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ALFM DOLLAR BOND FUND, INC. -A $532.49 2.08% 2.83% 1.8% 1.94% 0.65% ALFM EURO BOND FUND, INC. -A Є223.06 0.36% 1.78% 0.25% 0.53% -0.32% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.0564 -1.67% -0.05% -2.55% -0.63% -1.73% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0258 -0.77% 1.88% -0.23% 0.24%-2.64% PAMI GLOBAL BOND FUND, INC. -B $1.0469 -1.61% 7.44% 0.05% -0.62% -1.24% PHILAM DOLLAR BOND FUND, INC. -A $2.424 -0.07% 2.66% -0.74% 0.48% -2.26% PHILEQUITY DOLLAR INCOME FUND, INC. -A $0.0635811 -0.27% 1.64% 0.16% 1.12% -1.35% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.8611 -0.4% 1.44% -2.11% -0.77%-2.44% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A 1.1847 2.73% N.A N.A N.A 1.57% ALFM MONEY MARKET FUND, INC. -A 152.37 4.21% 4.08% 3.15% 2.84% 2.35% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.2216 3.44% 3.77% 2.99% N.A 2% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.5128 3.69% 3.58% 2.96% 2.75% 2.11% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 116.74 4.18% 4.32% N.A N.A 2.45% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1935 2.54% 3.3% 2.44% N.A 1.46% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 47.9287 7.71% 3.56% N.A N.A 3.94% MBG ASIA FRONTIER FEEDER UMF, INC. -B,4 1.8014 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.5416 31.15% 21.76% 13.72% N.A17.12% SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.1907 12.56% N.A N.A N.A 6.72% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.8143 0.63% 0.98% -3.83% N.A 0.53% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. 1 - EFFECTIVE OCTOBER 1, 2025, ITS FUND MANAGEMENT IS WITH BPI WEALTH. 2 - LAUNCH DATE IS FEBRUARY 2, 2026. 3 - LAUNCH DATE IS DECEMBER 18, 2024. MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON SEPTEMBER 12, 2025. 4 - MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON MARCH 26, 2026. 5 - LAUNCH DATE IS APRIL 17, 2026, AND IT REPRESENTS THE SECOND TRANCHE OF THE ATRAM UNITIZED CORPORATE DEBT VEHICLE, INC. “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

Why the age of AI needs accountants

‘T

HE distinguishing mark of the accountancy profession is the acceptance of the responsibility to act in the public interest.” -IFAC Code of Ethics for Professional Accountants AS a member of the Board of Trustees of the Isla Lipana & Co. Foundation, the corporate responsibility arm of PwC Philippines, I often find myself Angelito M. Gabriel asking what trusteeship truly requires. In an age captivated novation must always be matched by artificial intelligence (AI), that by responsibility. question has become unexpectedly Long before AI, accountants deurgent. AI promises extraordinary veloped disciplines that societies advances, but it also raises an andepend upon: transparency, auditcient question: Who is accountable ability, disclosure, stewardship, and for what we create? Surprisingly, one independent oversight. These are preof the best answers comes not from cisely the principles needed to govern Silicon Valley but from the accounintelligent systems responsibly. The tancy profession. questions trustees ask today are strikMore than five centuries ago, the ingly familiar: Who bears the risk? Franciscan friar Luca Pacioli codiWho benefits? Who has access? Who fied double-entry bookkeeping. His is accountable? These are questions of insight was revolutionary. public trust. The age of AI does not Accountability should be built into diminish the accountant’s calling; it the system itself. Double-entry bookmakes it indispensable. keeping did more than improve comArtificial intelligence may bemerce; it transformed accountability come the defining technology from a matter of personal virtue into of our generation, but trust will a matter of institutional design. Inremain humanity’s defining nevestors, creditors, governments, and cessity. That is why the age of AI the public could rely on records that needs accountants—not merely revealed inconsistencies and encourto prepare financial statements, aged transparency. For trustees, the but to help ensure that powerful lesson is clear: accountability must be technologies remain transparent, designed into the system. accountable, and worthy of the pubToday, humanity faces another lic interest. To account faithfully information revolution. The ledger for what we have been given. To is no longer written in ink but in hold it in trust for those who come algorithms. Mary Shelley’s Franafter. To build accountability into kenstein warned against creation the structure—and then to become without responsibility. Max Tegworthy of that trust. mark argues that AI systems must remain auditable and aligned with human values. Yuval Noah Harari Angelito M. Gabriel is a CPA and a retired partwarns that information without ner at Isla Lipana & Co. He is the executive director accountability concentrates power. of the Christian Council for Transparency and AcPierre Teilhard de Chardin envicountability, Inc. (CCTA) and a member of the Philipsioned humanity’s growing intelpine Institute of Certified Public Accountants (Picpa). ligence serving the common good. The views and opinions he expressed herein do not Together they remind us that innecessarily represent the BusinessMirror.

briefs

➔ Pru Life launches cancer insurance

THE Pru Life Insurance Corp. of UK rolled out a 10-year renewable term insurance plan for cancer as the disease remains one of the country’s leading causes of death and a source of significant financial burden for families. The life insurer launched on Wednesday the product called “PRUCare Cancer Protect,” which covers eligible earlyand late-stage cancer, designed to provide policyholders with cash benefits to help offset treatment and other costs associated with the disease. The plan will provide 50 percent of the sum assured for an eligible early-stage cancer claim, compared to the 20 to 25 percent offered by other insurers. Reine Juvierre S. Alberto

➔ Maya bags seven Stevies

Maya Inc. announced last Wednesday of having bagged seven recognitions at the “2026 Stevie Awards for Great Employers” after extending the artificial intelligence (AI) tools it uses in its consumer products into how it recruits, onboards and engages its workforce. The haul covered four organizational categories and three individual honors. Maya took a “Silver Stevie” for experience-driven employer branding, and “Bronze Stevies” for scaling hiring with embedded AI, for its employee engagement program, and for its end-to-end onboarding design. Lorenz S. Marasigan

➔ DTI, Advintel to build credit registry

ADVINTEL Inc. announced last Tuesday of having entered into a Memorandum of Understanding with the Department of Trade and Industry (DTI) aiming to expand access to formal financing for small and medium enterprises (SMEs). The agreement, signed on August 6, “provides the foundation for launching ‘SME Trust,’” read the company’s statement. It explained that “SME Trust” is a credit-profile registry that integrates digital identity verification, credit data systems, cybersecurity, and electronic KYC technologies into the DTI’s network of over 1,400 “Negosyo” centers. Trade Undersecretary Blesila A. Lantayona was quoted in the statement as saying “SME Trust” is expected “to ensure that businesses in rural communities enjoy the same digital visibility as those in urban centers.”

BusinessMirror

Editor: Dennis D. Estopace • Thursday, August 13, 2026

BIR exceeds tax collection target for Jan-July period

By Reine Juvierre Alberto

@reine_alberto

HE Bureau of Internal Revenue (BIR) announced having exceeded its target in the first seven months of the year as revenue collection rose from a year earlier on stronger taxpayer compliance and sustained efforts.

The stronger collection performance offers some support to the government’s revenue outlook as it works to fund rising expenditures and contain its widening budget deficit at P786.8 billion in the first

half of the year. Total revenue collection of the government reached P2.260 trillion, driven by tax collections, despite the BIR missing its first-half target due to softer domestic economic activity.

The government tax collector reported last Wednesday its revenue collection totaled P2.003 trillion from January through July, surpassing the P1.990-trillion goal by P13.53 billion or 0.68 percent. Collections were also up by 5.4 percent or P102.60 billion from the same period a year ago. This puts the BIR at 59 percent of its full-year revised collection target of P3.393 trillion. In July alone, the BIR amassed P358.44 billion, also topping its goal of P336.07 billion for the month by 6.66 percent or P22.37 billion. July collections, likewise, were higher by 5.73 percent, or P19.41 billion, than a year earlier’s P339.01 billion. “These results show that better taxpayer service, clearer rules, and effective enforcement can support

stronger compliance and collection,” Internal Revenue Commissioner Charlito Martin R. Mendoza was quoted in a statement as saying. “We will continue helping taxpayers comply correctly and on time, while making sure that taxes properly due are collected fairly and efficiently,” Mendoza added. He earlier said that stronger economic growth in the second half of this year will be vital for the BIR to meet its target as it boosts household incomes, consumption and corporate profits. Next year, the BIR is projected to collect P3.736 trillion, up by 10.10 percent from this year’s goal. The higher target takes into account recovery in economic growth, with the gross domestic product pegged at 5 to 6 percent in 2027.

ADB adds $250M to PHL health financing amid shocks By Mary Jade Jadormio

N additional $250 million will raise the Asian Development Bank’s (ADB) financial support for the Philippines’s universal health care program to $750 million as oil price and supply shocks widen the government’s funding needs. According to the ADB, the increase will go to the subprogram 3 of the “Build Universal Health Care” program. The Japan International Cooperation Agency is also increasing its par-

allel co financing to about $188 million from an original $130 million. The financing will be drawn from the up to $1.75 billion in additional support offered last May by ADB President Masato Kanda to President Ferdinand R. Marcos Jr. “Conflict does not have to cross a border to enter a family’s home. It arrives in the price of medicine and in whether the lights stay on,” Kanda said. Support under the program is aimed at improving access to quality health services, including those addressing women’s health needs

and the health impacts of extreme weather. Subprogram 3 has also supported universal enrollment in the Philippine Health Insurance Corp. and expanded benefit packages covering primary care, emergency services and additional medicines. Household out-of-pocket spending on health declined to 42.7 percent in 2024 from 48.8 percent in 2019, according to the ADB. More no-copayment beds in public and private facilities have likewise been made available under the program. Mobile health units,

emergency medical assistance teams and community health teams under PuroKalusugan have also been deployed in underserved areas. Philippine financing accounts for most of an $800-million ADB package being deployed as the war in the Middle East puts pressure on public services in the region. Maldives will receive the remaining $50 million to finance critical diesel imports needed to maintain electricity and water supplies, food and health-care logistics, interisland transport and waste management.

Benitez named as OIC of Insurance Commission

HE Insurance Commission (IC) has temporarily designated Ermar U. Benitez as officer-in-charge while Insurance Commissioner Reynaldo A. Regalado is under preventive suspension for six months. “The designation is effective immediately, until a replacement is designated or otherwise directed by the Office of the President,” read an advisory issued by the insurance

regulator on August 10. Benitez is a lawyer and currently the deputy commissioner for the IC’s Management Support Services Group. He also served as chief of the Legal Division of the Games and Amusements Board. Benitez will be the IC’s temporary custodian after Regalado was placed under preventive suspension by the Office of the Ombudsman earlier this August. Administrative charges were filed

against Regalado for alleged “conflict of interest” and “manifest partiality” over the approval of the accreditation of insurance providers under the Passenger Personal Accident Insurance Program (PPAIP) for public utility vehicles. Regalado filed his counter-affidavits, maintaining that the accreditation complied with Circular Letter (CL) 2025-17 and that all consortia were evaluated under the same

standards. Regalado was charged with grave misconduct, violations of Republic Act (RA) 6713 or the “Code of Conduct and Ethical Standards for Public Officials and Employees” and RA 11032 or the “Ease of Doing Business and Efficient Government Service Delivery” law. He also faces a criminal charge for violating provisions of the “AntiGraft and Corrupt Practices” law or RA 3019. Reine Juvierre S. Alberto

Expected rise in benefit payments a ‘concern’ for SSS By Andrea E. San Juan

ENEFIT payments to privatesector members, which could climb by 10 percent this year, is a “concern” for the state-run pension fund manager with contribution collection only expanding steadily, according to the chief of state-run insurer Social Security System (SSS). “Ang concern talaga namin is the more benefits. Definitely benefits payout for 2026 will be more than 10 percent of 2025,” SSS President and CEO Robert Joseph M. de Claro

said during a signing of an agreement between the SSS and the Rizal Commercial Banking Corp. last Tuesday. “So kung mas malaki yung benefit payout mo, at ang growth mo naman ng contribution collection is only so much; nag-grow naman siya eh ang capital market [in the[ Pilipinas hindi ganun ka-exciting,” De Claro said. “So, definitely it won’t be at a P140billion level but we will be paying out more than P250 billion in benefits in 2026.” Last year, the SSS disbursed P304.94 billion in pensions and ben-

efits to 5.66 million members across the country. Currently, SSS’ total assets currently sits at P1.3 trillion. For this year, de Claro said, “probably we’ll hit about P1.5 trillion.” He expects SSS’s assets could hit about 1.750 trillion in 2027. De Claro added that before the end of the Marcos administration, the assets would hit P2 trillion. “It took us more than 60 years to reach the P1 trillion; and with this administration, we will double the value of the SSS,” he told reporters. De Claro based his optimism

on the state-run insurer’s performance last year, being recognized as the most profitable governmentowned and –controlled corporation in 2025 with P140 billion in net revenues. “So nilagay namin ’yung nag-increase ng pension; mas pinaaga ang increase. And then naglalabas kami ng bagong produkto. So in terms of the target for 2026, I think it will be within the budget na sinubmit namin sa DBM [Department of Budget and Management],” de Claro added.

PDIC eyes improving risk-based assessment, to pursue legislative reforms By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

AVAO CITY—State deposit insurer Philippine Deposit Insurance Corp. (PDIC) announced recently plans to seek legislative reforms to shield the insurance system from crisis and improving riskbased assessments. The legislative agenda presented by PDIC executives to members of the media last week is expected to consolidate the increase in public trust and confidence in the banking system following the increase of maximum deposit insurance coverage to P1 million last year. “Last year’s increase in coverage was an important promise to depositors.

This legislative agenda is how we fulfill that promise for the future, by building a deposit insurance system that is broader in coverage, faster in response, stronger in times of crisis, and worthy of public trust,” PDIC President and CEO Roberto B. Tan said. The proposed legislative reforms focus on key structural enhancements: expansion of deposit insurance coverage to include eligible deposits in non-bank financial institutions and cooperatives. The agenda also includes provision of higher insurance coverage for accounts with high social and economic value and faster payment of deposit insurance claims by streamlining the verification of deposit records and removing statutory legal hurdles. According to Tan, they are also

seeking authority to implement a temporary blanket guarantee during systemic financial crises to prevent bank runs as well as strengthen the PDIC’s liquidation framework and institutional capability to enhance organizational efficiency. The PDIC also introduced its proposed “risk-based assessment system,” or “RBAS,” which it described a landmark reform. PDIC General Counsel Maria Antonette I. Brillantes-Bolivar said this reform will promote stronger risk governance among banks. Unlike the current system, where all banks pay a flat assessment rate of one-fifth of one percent of total deposit liabilities, the RBAS will adopt a riskbased approach, according to Bolivar. “Assessment rates will reflect each

bank’s overall risk profile, taking into account factors such as capital adequacy, liquidity, asset quality, governance, business model, and supervisory assessments adopted by the Bangko Sentral ng Pilipinas (BSP),” she added. Bolivar, who also heads the PDIC RBAS Working Group, explained that the RBAS promotes fairness by ensuring that assessment rates better reflect a bank’s level of risk. It also encourages banks to strengthen governance, maintain adequate capital, and adopt sound risk management practices that contribute to a safer and more resilient banking system. According to the PDIC, it is developing the RBAS with the advisory services of the World Bank Group and in consultation with the BSP and the

different bank associations. Under the framework, financial and supervisory indicators will be combined to generate a composite risk score that will determine each bank’s assessment rate. According to the PDIC, banks with stronger risk profiles may qualify for lower assessment rates. The state deposit insurer further said that the RBAS is aligned with the core principles for effective deposit insurance systems of the International Association of Deposit Insurers (IADI), which encourage the use of risk-sensitive premium assessment frameworks. To ensure a smooth transition, the PDIC will conduct a one-year shadow run before full implementation of the RBAS by 2028. During this period, banks will continue paying the current

flat rate while receiving estimates of what their premiums would be under the RBAS. The exercise will also allow the state deposit insurer to test and refine the framework. The PDIC emphasized that all bankspecific assessments, simulated scores, and risk ratings will remain strictly confidential. The framework also includes mechanisms for clarification, review, and periodic recalibration to keep the methodology responsive to evolving industry conditions. As co-regulator of banks alongside the BSP, the PDIC said the RBAS reinforces its commitment to financial stability and depositor protection by creating stronger incentives for prudent risk management and a safer, fairer, and more resilient banking system.

Health&Fitness BusinessMirror

B4 Thursday, August 13, 2026

PHL urged to turn lung cancer policies into action By Candy P. Dalizon Contributor

HE Philippines has the scientific evidence and policy f r a me work s ne e de d to improve lung cancer outcomes, but experts say the country must now translate these commitments into action through stronger institutions, decisive government leadership, and cross-sector collaboration. This was the key message of a recent roundtable, “Beyond the Care Continuum: Building the Institutional Capability to Deliver Equitable Lung Cancer Care,” hosted by the Pharmaceutical Committee of the American Chamber of Commerce of the Philippines (AmCham Philippines). Among the key speakers were Dr. Mary Bussell, founder and CEO of TriMarStrategies and lead author of the global Lung Cancer Consensus Statement, and Engr. Emer Rojas, president of the Lung Health Alliance of the Philippines (LungHAP).

Bridging the execution gap IN her keynote address, Dr. Bussell said one of the biggest challenges facing modern health care is no longer the

discovery of effective interventions but the ability of health systems to deliver them consistently. Despite advances in prevention, early detection, precision diagnostics, and targeted therapies, lung cancer remains the leading cause of cancer deaths worldwide, with implementation often lagging behind scientific progress. “Scientific progress rarely falls short because of insufficient evidence. Far more often, it falls short because institutions struggle to translate evidence into implementation,” Dr. Bussell said. She stressed that declaring lung cancer a national priority is only the beginning of the policy process. The greater challenge, she said, is building resilient institutions capable of delivering proven interventions fairly, promptly, and sustainably. Dr. Bussell described the global Lung Cancer Consensus Statement as an actionable blueprint built around five pillars: prevention, early detection, equitable access to treatment, cross-sector partnerships, and destigmatization. Achieving these goals, she said, requires coordinated action not only

from the health sector but also from government agencies responsible for finance and education, as well as industry and civil society. “Scientific progress creates possibility. Institutional capability determines whether possibility becomes reality,” Dr. Bussell said. She emphasized that implementing the strategy requires a whole-ofgovernment approach rather than relying solely on the health sector.

Translating policy into patient impact DR AWING from his experience as a lung cancer survivor, Rojas urged stakeholders to turn existing policies and frameworks into concrete action, particularly by expanding screening, strengthening regional cancer centers, and giving patients a greater voice in health policy. The momentum from global and local consensus statements helped lead to the establishment of LungHAP in 2024, which advocates for greater health-care equity and policy reform. “We have the plan in place. We have a clear framework and clear guidelines for implementation. The focus now needs to be on implementation,

sustained commitment, and allocating resources for the fight ahead,” Rojas said. Working with medical organizations, local government units (LGUs), and international partners, LungHAP advocates for stronger policy alignment with the National Integrated Cancer Control Act (NICCA). Rojas also called for expanded public-private partnerships and decentralized cancer care to bring services closer to patients, particularly those in underserved communities. He cited the potential of artificial intelligence-assisted chest X-rays as another tool that could help expand screening and improve access to early detection. Both speakers agreed that while continued research remains essential, scientific advances must be matched by health systems capable of delivering these innovations to patients across the country. “History will not judge us solely by the discoveries we make. It will judge us by whether those discoveries reached the people whose lives depended upon them. That, ultimately, is the measure of leadership,” Bussell said.

WHO unveils global framework for greener pharmaceuticals By Patrick Villanueva

HE World Health Organization (WHO) has introduced its first global framework to help medicines regulators support greener pharmaceutical practices without compromising the safety, quality, efficacy, or accessibility of medicines. The framework, “Towards a Greener Pharmaceuticals’ Regulatory Highway: A Framework for Regulators as Enablers of Decarbonization,” builds on the WHO’s call to accelerate greener pharmaceutical regulation issued in December 2024. According to the WHO, the pharmaceutical industry accounts for about five percent of global greenhouse gas emissions. Throughout a medicine’s life cycle—from raw material extraction and manufacturing to distribution and use—greenhouse gases are generated, contributing to

climate change. The framework aims to help regulators integrate sustainability into regulatory systems by providing scientific guidance, setting standards, supporting regulatory cooperation, harmonizing requirements, and allowing regulatory flexibility where appropriate. As an example of the environmental benefits of regulatory decisions, the WHO cited the transition from efavirenz-based HIV treatment to dolutegravir-based antiretroviral therapy. The shift is estimated to have prevented about 26 million metric tons of carbon dioxide-equivalent emissions between 2017 and 2027.

Climate benefits THE case study also showed that the climate benefits of regulatory decisions can be overlooked unless product-level carbon emissions are

measured and monitored alongside traditional health outcomes. To advance greener pharmaceutical regulation, the WHO framework is built around three key pillars. The first focuses on awareness and capacity building, encouraging regulatory agencies to strengthen their understanding of climate science and pharmaceutical emissions through education and training. The WHO also recommends creating knowledge-sharing platforms where regulators can exchange best practices, decarbonization initiatives, and lessons learned. The second pillar centers on guidance, tools, and standards. It calls for a global repository of recognized data standards to help pharmaceutical companies consistently measure and report carbon emissions, identify major sources of emissions across the supply chain, and support voluntary

carbon reporting. The third pillar promotes innovation and regulatory collaboration by strengthening digital infrastructure that allows regulators to exchange information, support reliance mechanisms, and pilot sustainability-focused regulatory approaches. It also encourages greater international consultation and alignment to accelerate climate-conscious regulation across jurisdictions. The WHO said the framework is intended to help regulators become active partners in reducing the pharmaceutical sector’s environmental impact while ensuring continued access to safe, effective, and quality medicines. As healthcare systems worldwide pursue decarbonization, the organization believes regulators can play a critical role in supporting innovation and advancing a more sustainable pharmaceutical industry.

RUNNING HER OWN RACE

Women’s Run PH goes nationwide as more Filipinas find their stride

By Bless Aubrey Ogerio

OR many women, the hardest part of running is not the distance. It’s finding the confidence to sign up, the courage to run alone, or simply a space where they feel safe enough to begin. Those realities have fueled the growth of women-only running communities in the Philippines over the past few years, transforming what was once considered a niche fitness event into a movement that extends well beyond race day. This October, that movement enters a new chapter as Women’s Run PH expands into a nationwide series for the first time. Launched during a media event in Taguig City on July 30, 2026, in celebration of National Women’s Health Month, the Lactacyd Women’s Run PH Series will kick off on October 25 at Ayala Triangle Gardens in Makati before making stops in Davao and Iloilo. Carrying the theme “Bigger, Bolder, Stronger,” the expanded series marks the evolution of Women’s Run PH from a single annual race into a multi-city initiative aimed at encouraging more Filipinas to embrace running and active lifestyles. “We’ve always wanted to create more opportunities for women,” said Nicole Dela Cruz, founder and chief executive officer of Women’s Run PH, during the event. “For us, it’s really about active women— women who are on their running journey,

staying active and moving. Through this series, we’re able to motivate and inspire more women not only in Metro Manila but also in cities across the country.” The expansion follows what organizers described as a milestone year for the event. Last year’s race attracted around 11,600 participants, prompting organizers to increase this year’s capacity to 12,000 runners—the maximum that Ayala Triangle Gardens can accommodate.

Why Davao and Iloilo?

BRINGING the event outside Metro Manila was never simply about adding more race locations. According to Dela Cruz, Davao emerged as the strongest provincial candidate after consistently posting the highest female participation in races organized by their team. “When you mount races in the provinces, it’s usually difficult to attract women participants,” she explained. “But in Davao, we’ve seen very strong support. Compared with the other cities we’ve been to, Davao consistently has the biggest turnout.” Iloilo, meanwhile, was chosen for both personal and practical reasons. Dela Cruz, who hails from the city, said the local running community has shown overwhelming support for the event. During a recent Women’s Run event, more than 2,800 women participated in Iloilo, far surpassing the roughly 1,000 who joined the

organization’s inaugural race in Cebu. Beyond the turnout, she said many women in Iloilo had been asking organizers to bring the Lactacyd Women’s Run to the city, reinforcing the decision to make it one of the stops in the inaugural nationwide series.

More than a race

ALONGSIDE the physical races, organizers will continue offering a virtual run option. Participants who cannot join onsite may complete their chosen distance over a five-day period beginning on race weekend, allowing runners from other parts of the country to participate at their own pace. Race organizers also plan to introduce motivational kilometer markers, expanded community cheering stations, and interactive activity areas throughout the venue. Beyond medals and finish times, however, organizers believe the event addresses challenges many women continue to face when they choose to become more active. Among the biggest, Dela Cruz said, is safety. “There are a lot of problems that arise, especially when you’re a woman,” she said. “One of the biggest concerns is having a safe space—not only on the roads where we run, but also online.” Women’s Run PH has since expanded beyond organizing races by creating community platforms where participants can openly discuss topics often overlooked in

traditional sports spaces—from menstruation and gender-specific health concerns to confidence and beginner-friendly training Rather than focusing solely on race day, the organization also conducts free training sessions and community runs designed to help beginners gradually build confidence before registering for an event.

More than a title sponsor

THE partnership with Lactacyd reflects that broader goal of making wellness education and conversations about women’s health more accessible. While best known as a feminine hygiene brand, Lactacyd said its involvement goes beyond title sponsorship by supporting initiatives that encourage women to prioritize both physical activity and personal well-being. “As a brand, we’re really here to support the empowerment of women across all life stages,” Lactacyd brand manager Jamie Superable-Martin said. “Our mission is to educate more women about intimate health, feminine hygiene, baby care, and total body care while helping them build confidence. Through Women’s Run PH, we’re able to make that education more accessible.” The company also hinted at product innovations that will be introduced alongside the October race, although details have yet to be disclosed.

Editor: Anne Ruth Dela Cruz

Disasters should not mean poor diets, says NNC Chief

UNDERSECRETARY and National Nutrition Council (NNC) Executive Director Dr. Albert Edralin Domingo talks to two mothers during unannounced visits to two evacuation centers in Parañaque City. By Claudeth Mocon-Ciriaco

‘D

ISASTERS should not mean poor diets.” This was stressed by Undersecretary and National Nutrition Council (NNC) Executive Director Dr. Albert Edralin Domingo during unannounced visits to two evacuation centers in Parañaque City, where he observed the safe preparation and distribution of fresh, nutritious meals as part of the city’s nutrition in emergencies (NIE) activities. “We are Filipino—we express love through food, so cooking and giving nutritious hot meals to evacuees is one of the better ways we can care for them,” Domingo said. Five days into the ongoing disaster response to rains and flooding brought about by enhanced habagat (southwest monsoon) rains, around 300 families across six barangay evacuation centers were receiving nutritious meals under the supervision of Parañaque City Nutrition Action Officer (CNAO) Janet A. Olivarez, Assistant CNAO Dr. Pauline R. Navarro, and the respective Barangay Nutrition Action Officers (BNAOs). At the commissary of Barangay BF Homes, Domingo observed the preparation and packing of picadillo—a dish made with ground beef, potatoes, and carrots—with rice. The meals were bound for the evacuation center in BF Homes Phase 3, where 125 families, or 451 individuals, were expected to have lunch. In Barangay Moonwalk, Domingo saw pinakbet and rice being prepared and distributed for lunch from a rooftop commissary to

90 families, or 366 individuals. More families were seen waiting at a registration area as voluntary evacuation remained ongoing amid Heavy Rainfall Warnings issued by the state weather bureau, DOST-PAGASA. Four registered nutritionist-dietitians (RNDs)—Mary Dancille D. Villarey, Ernesto Rafael M. Yuvienco, Jeanie S. Camarao, and Garyl M. Reyes—were supervising the food supply chain to help ensure that meals provided to evacuees were safe and nutritious.

Supporting breastfeeding mothers

Meanwhile, 13 children aged 0 to 23 months—the period covered by the first 1,000 days of life—were being breastfed by their mothers in dedicated breastfeeding tents inside the evacuation centers. Domingo, who also serves as a Health Undersecretary, met with four breastfeeding mothers, who shared their experiences in continuing to breastfeed their children during the emergency. “This is a good chance for you to make friends and to coach her in how to go about breastfeeding and complementary feeding later on,” Domingo told one mother who was breastfeeding her nine-month-old third child, referring to another mother whose onemonth-old baby was eagerly latched on. The breastfeeding areas provide mothers with a safe and supportive space to continue breastfeeding while staying in the evacuation centers, underscoring the importance of protecting maternal and child nutrition even during emergencies.

Bangsamoro takes step toward stronger nutrition governance with commission IRR By Rizal Raoul S. Reyes Contributor

HE Bangsamoro government has taken a major step toward fully operationalizing the Bangsamoro Nutrition Commission with the official launch of its Implementing Rules and Regulations (IRR). Kadil M. Sinolinding Jr., Minister of Health of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), said the IRR marks a significant milestone in strengthening nutrition governance and accelerating efforts to reduce malnutrition across the region. With the rules and regulations now in place, the commission will work with ministries, local government units, development partners, and communities to strengthen nutrition programs and improve services for children and other vulnerable groups. The IRR was launched during a ceremony at the Shariff Kabunsuan Cultural Center in Cotabato City, attended by members of the Bangsamoro Parliament, Bangsamoro government officials, representatives of national government agencies and local government units, Nutrition Action Officers, development partners, civil society organizations, and international organizations. “The establishment of the Bangsamoro Nutrition Commission is our collective vow that no child in the Bangsamoro region will have their potential cut short by hunger and malnutrition. We have fought for generations for peace and self-determination. Yet, true self-determination begins in the first 1,000 days of a child’s life,” Sinolinding said. The development of the IRR was supported by UNICEF Philippines and the Philippine Legislators’ Committee on Population and Development, with funding from the Child Nutrition Fund.

Inputs from stakeholders

LED by the Ministry of Health, the regulations were developed with inputs from stakehold-

ers across the Bangsamoro region, including Nutrition Action Officers, local leaders, ministries, development partners, civil society organizations, and other groups from both mainland and island provinces. These consultations helped ensure that the framework reflects the nutrition needs and realities of Bangsamoro communities. “A strong Bangsamoro begins with healthy families and well-nourished children. The operationalization of the Bangsamoro Nutrition Commission reflects our government’s commitment to investing in human development because lasting peace and sustainable progress can only be achieved when our people are healthy, productive, and empowered,” Interim Chief Minister Abdulraof A. Macacua said. “We call on every ministry, local government, development partner, and community to unite behind this shared mission,” he added. UNICEF Philippines has worked with the Philippine government for decades to improve the health, nutrition, and well-being of women and children. “Behind every nutrition program is a child who deserves to grow, learn and thrive. Through strong partnerships with government, communities, and development partners, we can bring essential nutrition services closer to the children and families,” said UNICEF Philippines Country Representative Kyungsun Kim. “We will continue to support the Bangsamoro government to help nourish children in the region so they reach their full potential,” she added. The IRR provides the framework for the Bangsamoro Nutrition Commission to carry out its mandate and coordinate nutrition efforts across the region. It is expected to help align government agencies, local governments, development partners, and communities toward a common goal: building a healthier, more resilient, and more prosperous Bangsamoro for generations to come.

Envoys&Expats BusinessMirror

envoys.expats.bm@gmail.com

Thursday, August 13, 2026

SIGNING AND EXCHANGE OF NOTES

On August 4, Secretary of Foreign Affairs Ma. Theresa P. Lazaro and Ambassador Kazuya Endo signed the Exchange of Notes for the Build Universal Health Care Program (Emergency Support), with a loan limit of approximately ¥30 billion. According to the Embassy of Japan, the program will provide financial support to the Philippines to formulate and improve policies to achieve UHC and to mitigate the impact on the health sector caused by escalating tensions in the Middle East. It aims to improve equitable access to high-quality health services and strengthen the medical supply chain, thereby contributing to economic stability and promoting social development. With 1,630 Japanese firms operating in the Philippines, efforts to boost the country’s healthcare environment and stabilize its economy and public finances are seen to improve Filipinos’ lives. It also aims to bolster the country’s social and economic activities, while helping lay the groundwork for Japanese companies’ expansion and operations in the country.

SHARED GLOBAL VISION During Colombia’s 216th Independence Day

celebrations, Ambassador Edgar Rodrigo Rojas Garavito (left) highlighted 80 years of diplomatic ties with the Philippines, built on peace, mutual respect, and democratic values. He cited broader collaboration and expressed strong optimism for deeper linkages spanning trade, agriculture, education, tourism, innovation, and environmental protection. He also reaffirmed a mutual dedication to multilateral cooperation and a rules-based international order. With him on stage were Foreign Affairs Undersecretary Leo Herrera-Lim (center) and Archbishop Charles John Brown DD.

PBBM welcomes four new nonresident ambassadors

RESIDENT Ferdinand R. Marcos Jr. recently welcomed four nonresident envoys as he expressed his hopes for stronger cooperation with the nations they represent. As ambassadors-designate, Retselisitsoe Theko (Kingdom of Lesotho), Reinaldo Rafael Espinal (Dominican Republic), Masanneh Nyuku Kinteh (Republic of The Gambia), and Landry Mboumba (Gabonese Republic) presented their letters of credence to the chief executive. In receiving Theko, Marcos Jr. said he looks forward to expanding cooperation with the South African kingdom in education, technical training, healthcare, skills development, trade, investment, tourism, and multilateral cooperation. “I look forward to examining… and exploring [areas of cooperation] with you and find ways to bring our countries closer to the mutual benefit

of all,” he said. For his part, Theko said the Philippines and Lesotho share a commitment to implement international cooperation, peaceful development and the advancement of their people. Lesotho, according to him, sees potential for closer engagement in trade, investment, tourism and multilateral cooperation, and advancing the shared interests of developing countries. As ambassador, he promised to work diligently to deepen the bonds of friendship and cooperation between the two countries and to promote partnerships that bring tangible benefits to both nations. The president likewise hopes to

Observation (EO), including landcover and forest mapping with the National Mapping and Resource Information Authority (NAMRIA) on August 5 and 6, and groundmotion monitoring with the Philippine Institute of Volcanology and Seismology (PHIVOLCS) on August 10. It also conducted a workshop on strengthening EU-Philippines Earth Observation collaboration, as well as sessions on the National Copernicus Capacity Support Action Programme (CopPhil) and the EU-Philippines Digital Economy Package and Info Planning Session organized by the EU and Finland on August 12. Crop mapping with the Bureau of Soils and Water Management of the De-

US to construct permanent anti-terror hub in Pagadian

ACTING Senior Regional Security Officer Daniel Art (seated, center) and Gov. Divina Grace Yu (seated, second from left) sign the memorandum of agreement to build a hub for collaborative law enforcement training programs. US EMBASSY IN MANILA By Malou Talosig-Bartolome

THE Chief Executive and Secretary of Foreign Affairs (center) meet the new envoys

work closely with the Republic of The Gambia to deepen cooperation in areas of mutual interest, particularly in agriculture, education, trade, tourism, and investment. “It is a great honor and pleasure to receive your Letter of Credence, particularly your assumption as ambassador of the Republic of Gambia to the Republic of the Philippines,” he told the African non-resident envoy.

“I hope that the sectors that you mentioned are areas that we can examine and explore to…foster the closeness and the deepening of our relationship between our two countries.” In welcoming the top Dominican Republic diplomat, Marcos Jr. said he hopes Espinal’s tenure as ambassador to the Philippines will be fruitful and productive for the benefit of both nations. PND, PCO

EU ‘navigates tomorrow’ at Philippine Space Week 2026

HE European Union (EU) is participating in the Philippine Space Week 2026, which will be held until August 14 under the theme “Navigating Tomorrow.” According to its delegation, the EU and the Philippines share a strong partnership under the Global Gateway, which focuses on leveraging the expertise and technology of Copernicus: the Earth Observation (EO) component of the bloc’s space program. In the country, the first Copernicus Data Centre in Southeast Asia was established and is now becoming a regional center. Marking Philippine Space Week, the EU was scheduled to contribute through training sessions on Earth

ANNIVERSARY MARKED

Consul-General Atty. Melanie Rita B. Diano (left) led the Philippine Consulate General in Chicago as it commemorated the 10th anniversary of the South China Sea Arbitral Award. Diano highlighted that the award reaffirmed the nation’s commitment to advancing a unified national effort to uphold the rule of law and safeguard the country’s sovereignty, sovereign rights, jurisdiction, and lawful maritime entitlements. Guided by the United Nations Convention on the Law of the Sea and the arbitral award, the National Task Force for the West Philippine Sea remains steadfast in strengthening whole-ofgovernment coordination, unified response, and public awareness on matters concerning the disputed waters. CHICAGO PCG

partment of Agriculture is scheduled for August 13. The EU Copernicus Booth on August 9 gave visitors the chance to learn more about the Copernicus Data Centre at Quantum Skyview of the Gateway Mall 2 in Araneta City. Afterwards, the EU and Philippine Space Agency hosted a careers panel on EO with the Space Generation Advisory Council. It encouraged students and young professionals to explore opportunities in EO and the country’s space sector. The EU Copernicus Philippines program is funded by the EU with a €10-million grant (P624 million), in partnership with PhilSA and the Department of Science and Technol-

ogy, implemented by the European Space Agency as part of the EU Global Gateway Strategy. It supports the adoption of the EU’s EO technology to help local public administration, institutions and companies prevent natural disasters, protect the environment and manage national resources. The project involves three elements: developing a Copernicus data center in the Philippines; providing EO services that showcase practical data applications such as groundmotion monitoring, land cover, forest and crop mapping, and marine-environment monitoring; and supporting and strengthening local capacities while promoting education in Earth observation.

HE United States is investing P30.8 million ($500,000) to establish permanent counterterrorism training facilities in Pagadian City, Zamboanga del Sur, under its Antiterrorism Assistance (ATA) program. The project anchors recurring specialized courses for the Philippine National Police (PNP) and adds a fourth location in Mindanao where US forces will operate, alongside two in Zamboanga City and the Enhanced Defense Cooperation Agreement (EDCA) site in Cagayan de Oro. The new hub will host about 2,000 officers annually, providing advanced training in investigation, crisis response, and intelligence coordination. It marks the first permanent ATA location in the Philippines, shifting from temporary venues to a dedicated facility in a province long scarred by extremist violence. Zamboanga del Sur has endured some of the country’s worst terrorist attacks. In 1995, Abu Sayyaf militants raided Ipil—then part of the province—killing dozens, burning banks, and taking hostages. The Ipil Massacre remains a stark reminder of the region’s vulnerability. Mindanao has long been a flashpoint for extremist activity, as terror groups carried out kidnappings, bombings, and attacks that endangered both Filipinos and foreigners. “This investment in Pagadian reflects our confidence in the PNP and our conviction that a safer, more capable [police force] means a safer Philippines, a safer US, and a stronger alliance between our two nations,” Acting Senior Regional Security Officer of the US Embassy in Manila Daniel Art said. The construction of the US counterterrorism hub was formalized in an

agreement between the US Embassy in Manila and the Zamboanga del Sur provincial government. “Under the agreement, the US Department of State’s [ATA] program will provide permanent and dedicated training facilities in Pagadian City to host recurring specialized training courses for the [PNP],” the US Embassy said in a statement. The ATA program was created by the US Congress in 1983 after a devastating terrorist attack in Beirut, Lebanon. Since then, it has trained more than 165,000 law enforcement officials and first responders from over 150 countries. In 2023 alone, ATA delivered 373 courses to 7,788 participants worldwide, including 23 courses for 416 Filipino officers. The Pagadian hub mirrors a similar ATA regional training center in Jordan, inaugurated in 2018 south of Amman. That facility features advanced ranges and simulated urban environments, training officers from 21 nations. Pagadian joins Zamboanga City, where US special forces have long held joint counterterrorism exercises at the AFP Western Command, Edwin Andrews Air Base, and Cagayan de Oro’s Lumbia Air Base—one of the designated sites under the EDCA. The locations highlight the growing visibility of US security linkages in Mindanao. Gov. Divina Grace Yu welcomed the initiative, saying the partnership will boost law enforcers’ capabilities by deterring and preventing terrorist acts, strengthening security and stability in Zamboanga del Sur, across Mindanao and the whole country. The launch coincides with the 80th anniversary of US-Philippines diplomatic relations, underscoring security cooperation as a cornerstone of the alliance.

PHL, Finland boost cooperation on jobs and worker protection

T SECRETARY Francis Tolentino and Ambassador Saija Nurminen DOLE/PNA

HE Philippines, through the Department of Labor and Employment (DOLE), and Finland are strengthening cooperation to create more job opportunities for Filipinos, enhance skills development, and improve protection for overseas workers (OFWs). During her courtesy call on Labor Secretary Francis Tolentino, Ambassador Saija Nurminen of Finland discussed possible collaborations in skills training and ethical recruitment in emerging industries where Filipino workers are in demand. Both officials explored opportunities in

renewable energy, maritime technology, artificial intelligence and other industries expected to generate more jobs in the future. They also tackled scholarships, training and exchange programs that would equip Filipino workers with skills needed in these sectors, while enabling trainers and students to learn from Finland’s globally recognized vocational education system. DOLE also expressed interest in learning from Finland’s labor migration model, which matches skilled foreign workers with employers while promoting fair recruitment, faster

processing, and strong worker protection. Meanwhile, Tolentino highlighted local efforts to prepare workers for the transition to a greener economy through the Philippine Green Jobs Act and the Technical Education and Skills Development Authority’s Green TVET (technical-vocational education and training) program. He also cited opportunities for partnerships in renewable energy, waste management, and other sustainable industries. The department also thanked Finland for its steady support for the ongoing Phil-

ippines-European Union Free Trade Agreement negotiations. It leads talks on labor provisions that promote decent work and protect workers’ rights. From 2024 to April 2026, some 1,300 OFWs were hired in Finland, mostly in healthcare, hospitality, skilled trades and other occupations facing labor shortages. The Nordic country is also home to around 12,770 Filipinos—up from just 302 in 2016. Meanwhile, 39 Finnish firms operate in various sectors in the Philippines. Ferdinand Patinio/PNA

Thursday, August 13, 2026

PCCI calls for timely issuance of JAO to reduce logistics costs and improve port efficiency

he Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, today called for the immediate signing of the Joint Administrative Order (JAO) that will strengthen the Bureau of Customs’ (BOC) lead role in implementing an inter-agency regulatory framework for international shipping lines, container yards, and other logistics service providers. For decades, Philippine enterprises have grappled with high logistics costs, non-transparent ancillary charges, and recurring port congestion, persistent constraints that have undermined the country’s trade competitiveness, increased the cost of doing business, and ultimately burdened Filipino consumers. The draft JAO, which has completed its public consultation process and is now undergoing final review by the concerned government agencies, directly addresses these long-standing industry concerns. Among its key provisions, the JAO requires shipping lines and other covered entities to report all applicable charges to the BOC, which will standardize the nomenclature of logistics fees and oversee the regulation of allowable charges and fee limits under the framework. It also mandates the refund of container deposits within 15 days from the return of containers and prohibits shipping lines from withholding cargo over unpaid charges arising from separate transactions. In addition, pending the determination of a permanent benchmark, a 75 percent yard utilization threshold will guide the implementation of decongestion measures to improve port efficiency. PCCI President Perry L. Ferrer emphasized the urgency of the measure, noting that excessive logistics costs have long eroded the competitiveness of Philippine enterprises.

“The JAO is a long-overdue solution to the excessive and non-transparent fees that have burdened our industries for years. We urge the Department of Finance (DOF), Department of Transportation (DOTr), Department of Trade and Industry (DTI), the Bureau of Customs (BOC), and the other concerned agencies to finalize and sign the order without further delay. Every day of delay prolongs the burden on businesses and consumers,” Ferrer said. Ferrer expressed full confidence in the BOC’s capacity to lead the implementation of the new regulatory framework, citing the agency’s continuing reforms under Commissioner Ariel F. Nepomuceno. “Commissioner Nepomuceno’s reforms have helped foster a more transparent, predictable, and rules-based trading environment. We believe the Bureau of Customs is well-positioned to lead the implementation of this important reform, working closely with the other partner agencies,” Ferrer added. PCCI Vice President for Industry Bryan L. Ang echoed the call, highlighting the tangible benefits the JAO would bring to Filipino businesses and households. “By addressing excessive logistics costs and promoting greater transparency and accountability across the supply chain, this JAO responds to long-standing concerns raised by the business community. Its effective implementation will help businesses operate more competitively while ultimately benefiting consumers through more efficient and transparent logistics services,” Ang said. Ang noted that over the years, the proliferation of numerous ancillary shipping

charges has significantly increased the cost of importing goods, with some importers reporting logistics costs rising from around P30,000 to well over P100,000 per container. “These additional costs are ultimately passed on to Filipino consumers through higher prices. The JAO is a critical step toward ensuring that logistics charges remain fair, transparent, and justifiable while strengthening the competitiveness of Philippine trade,” Ang explained. The current draft JAO builds upon earlier proposals to strengthen oversight of international shipping practices and is being advanced by the Bureau of Customs as part of broader efforts to modernize customs administration, improve transparency, and reduce trade bottlenecks. The government is targeting its issuance ahead of the seasonal increase in cargo volumes later this year. PCCI reaffirmed its commitment to working closely with the Bureau of Customs and other government agencies to improve trade facilitation, address cargo congestion, reduce logistics costs, and strengthen customs administration for the benefit of Philippine enterprises and Filipino households alike. PCCI believes the JAO is a critical first step toward comprehensive logistics reform that will enhance the country’s competitiveness, attract greater investment, strengthen supply chain resilience, and help lower the cost of goods for Filipino consumers. The Chamber urged all concerned agencies to seize this opportunity to deliver a more transparent, efficient, and globally competitive logistics system that supports sustainable economic growth and job creation.

NUSTAR Resort Cebu’s culinary excellence takes the national spotlight

HE culinary team of NUSTAR Resort Cebu, the city’s landmark destination for exceptional experiences, earned five bronze medals at the Philippine Culinary Cup 2026. Held from July 29 to August 1, 2026, at the SMX Convention Center in Pasay City, the Philippine Culinary Cup is the country’s premier and only WORLDCHEFS-accredited culinary competition. It was held alongside WOFEX, the Philippines’ largest food and hospitality trade show. Led by NUSTAR Resort Cebu Executive Chef Martin Rebolledo Jr., along with Executive Sous Chef Alvin Antonio, the 10-member team competed in pastry and savory categories. In the pastry categories, Ma. Paulyne Orbuda earned a bronze medal for Chocolate Showpiece, while Eduardo Natividad Jr. received a bronze medal for Bread Pastry Showpiece. In the savory categories, Michael Navaja and Josevil Andales received a bronze medal for Amuse Bouche. Arran Paul Pascua and William Moran Jr. also earned a bronze

medal for Canadian Pork and Beef, while Jesrael Rodriguez and Christian Clint Andrino received a bronze medal for Filipino Cuisine. Completing NUSTAR’s 10-member delegation were Bruce Anthony Gamboa, who competed in the Wedding Cakes category, and Hyacinth Aliazon Inot, who joined Arran Paul Pascua and William Moran Jr. in the Dream Team category. Their entries also received formal recognition from the competition, adding to the team’s results in its first national competition. The competition provided the team with an opportunity to represent NUSTAR Resort Cebu at the national level, benchmark their skills against industry standards, and receive recognition across different culinary categories. The results support NUSTAR Resort Cebu’s continued focus on developing its culinary team and maintaining high standards across its dining outlets. For more information about NUSTAR Resort Cebu, visit nustar.ph or call (032) 888 8282.

Thai Trade Center Manila opens a new chapter with ‘Melody of Books’

HAILAND is turning the page to a new chapter of cultural exchange as the Thai Trade Center Manila, Department of International Trade Promotion, Ministry of Commerce of Thailand, makes its debut at the Manila International Book Fair (MIBF) 2026, bringing the sights, sounds, and stories of Thailand closer to Filipino readers through “Melody of Books.” From September 9 to 13, 2026, at the SMX Convention Center Manila, Level 2, Booth Nos. 2-48, 2-49, 2-54 and 2-55, visitors can step into a world where Thai literature meets culture, creativity, and interactive experiences. In its first-ever participation in MIBF, the Thai Trade Center Manila’s first-ever MIBF participation will showcase significant literary works from Thailand alongside activities that invite Filipino audiences to discover the country beyond its pages. More than a collection of books, “Melody of Books” celebrates the power of storytelling to connect cultures. Visitors can look forward to engaging experiences inspired by Thailand’s literary and cultural heritage, offering book lovers, families, students, and curious minds a chance to discover new stories and create meaningful connections. “Our debut at the Manila International Book Fair marks an exciting opportunity to bring Thailand and the Philippines closer through the universal language of stories. We hope ‘Melody of Books’ inspires Filipinos to discover Thailand from a new perspective and strengthens

the cultural connections shared by our two countries,” said Sutinee Vathana, Director of Thai Trade Center Manila. As Thailand opens its books to Manila, “Melody of Books” invites everyone to experience the stories, culture, and traditions of Thailand in a way that goes beyond the written word. Discover the “Melody of Books” at the Thai Trade Center Manila Pavilion at MIBF 2026, happening September 9 to 13 at SMX Convention Center Manila.

PCCI calls for timely issuance of JAO to reduce logistics costs and improve port efficiency

HE Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, today called for the immediate signing of the Joint Administrative Order (JAO) that will strengthen the Bureau of Customs’ (BOC) lead role in implementing an inter-agency regulatory framework for international shipping lines, container yards, and other logistics service providers. For decades, Philippine enterprises have grappled with high logistics costs, non-transparent ancillary charges, and recurring port congestion, persistent constraints that have undermined the country’s trade competitiveness, increased the cost of doing business, and ultimately burdened Filipino consumers. The draft JAO, which has completed its public consultation process and is now undergoing final review by the concerned government agencies, directly addresses these long-standing industry concerns. Among its key provisions, the JAO requires shipping lines and other covered entities to report all applicable charges to the BOC, which will standardize the nomenclature of logistics fees and oversee the regulation of allowable charges and fee limits under the framework. It also mandates the refund of container deposits within 15 days from the return of containers and prohibits shipping lines from withholding cargo over unpaid charges arising from separate transactions. In addition, pending the determination of a permanent benchmark, a 75 percent yard utilization threshold will guide the implementation of decongestion measures to improve port efficiency. PCCI President Perry L. Ferrer emphasized the urgency of the measure, noting that excessive logistics costs have long eroded the competitiveness of Philippine enterprises. “The JAO is a long-overdue solution to the excessive and non-transparent fees that have burdened our industries for years. We urge the Department of Finance (DOF), Department of Transportation (DOTr), Department of Trade and Industry (DTI), the Bureau of Customs (BOC), and the other concerned agencies to finalize and sign the order without further delay. Every day of delay prolongs the burden on businesses and consumers,” Ferrer said. Ferrer expressed full confidence in the BOC’s capacity to lead the implementation of the new regulatory framework, citing the agency’s continuing reforms under Commissioner Ariel F. Nepomuceno. “Commissioner Nepomuceno’s reforms have

helped foster a more transparent, predictable, and rules-based trading environment. We believe the Bureau of Customs is well-positioned to lead the implementation of this important reform, working closely with the other partner agencies,” Ferrer added. PCCI Vice President for Industry Bryan L. Ang echoed the call, highlighting the tangible benefits the JAO would bring to Filipino businesses and households. “By addressing excessive logistics costs and promoting greater transparency and accountability across the supply chain, this JAO responds to longstanding concerns raised by the business community. Its effective implementation will help businesses operate more competitively while ultimately benefiting consumers through more efficient and transparent logistics services,” Ang said. Ang noted that over the years, the proliferation of numerous ancillary shipping charges has significantly increased the cost of importing goods, with some importers reporting logistics costs rising from around ₱30,000 to well over ₱100,000 per container. “These additional costs are ultimately passed on to Filipino consumers through higher prices. The JAO is a critical step toward ensuring that logistics charges remain fair, transparent, and justifiable while strengthening the competitiveness of Philippine trade,” Ang explained. The current draft JAO builds upon earlier proposals to strengthen oversight of international shipping practices and is being advanced by the Bureau of Customs as part of broader efforts to modernize customs administration, improve transparency, and reduce trade bottlenecks. The government is targeting its issuance ahead of the seasonal increase in cargo volumes later this year. PCCI reaffirmed its commitment to working closely with the Bureau of Customs and other government agencies to improve trade facilitation, address cargo congestion, reduce logistics costs, and strengthen customs administration for the benefit of Philippine enterprises and Filipino households alike. PCCI believes the JAO is a critical first step toward comprehensive logistics reform that will enhance the country’s competitiveness, attract greater investment, strengthen supply chain resilience, and help lower the cost of goods for Filipino consumers. The Chamber urged all concerned agencies to seize this opportunity to deliver a more transparent, efficient, and globally competitive logistics system that supports sustainable economic growth and job creation.

Suzuki Philippines relaunches upgraded Suzuki Auto Iloilo 3S Facility

UZUKI Philippines Incorporated (SPH) has officially relaunched Suzuki Auto Iloilo following the renovation and expansion of its standalone 3S (Sales, Service, and Spare Parts) facility along Diversion Road in Dungon B, Jaro, Iloilo City, strengthening Suzuki’s presence in Western Visayas. The upgraded dealership provides customers with an improved environment for vehicle sales and aftersales service. Its showroom can accommodate five vehicle display units, while its enhanced service facility features six service bays to support the maintenance and service needs of Suzuki owners. Established on June 13, 2012, Suzuki Auto Iloilo has been serving customers for more than a decade. The dealership is operated by Sakura Autoworld, Inc., led by President Marco Gabriel Borromeo and Dealer Principal Jose Daniel R. Borromeo. The renewed facility is also being

prepared for Suzuki’s growing electrified vehicle lineup, including the Suzuki e VITARA, Suzuki’s all-electric SUV. It will soon be equipped with a dedicated charging station, further preparing the dealership to support Suzuki’s electrified mobility initiatives. During the relaunch, Norihide Takei, Director and General Manager of the Automobile Division of Suzuki Philippines, highlighted the significance of the upgraded facility and Sakura Autoworld, Inc.’s continued partnership with Suzuki Philippines. He said the renewed facility demonstrates Sakura Autoworld, Incorporated’s commitment to improving the customer experience and preparing for the future of Suzuki. He also noted that the dealership’s investment in readiness for Suzuki’s future electrified vehicle lineup reflects a shared vision for sustainable growth. Takei also recognized Sakura

Autoworld, Inc.’s contribution to Suzuki’s continued growth, saying that Suzuki Philippines is proud to have dedicated dealer partners and looks forward to continuing the journey together as the brand serves more customers and strengthens its presence in the region. The relaunch marks another milestone for Suzuki Auto Iloilo as it continues to evolve with the needs of its customers. With upgraded sales and aftersales facilities and preparations for electrified mobility, the dealership is ready for the next chapter of the Suzuki journey—always By Your Side. For more information, you may check out any authorized Suzuki Auto dealerships nationwide or visit http:// suzuki.com.ph/auto/. For daily updates on Suzuki, please like Suzuki Auto PH’s Facebook page at https://www.facebook. com/SuzukiAutoPH, follow them on X at https://x.com/SuzukiAutoPH and Instagram at @suzukiautoph.

In the photo are, from left, Claribeth Valiente, Suzuki Philippines’ Auto Service Department Head for AfterSales Service; Ira Valte, Suzuki Philippines’ National Sales Manager for Automobile Division; Norihide Takei, Suzuki Philippines’ Director and General Manager for Automobile Division; Marco Gabriel Borromeo, President of Sakura Autoworld, Inc.; Roy Mitchel Silverio, General Manager of Sakura Autoworld, Inc.; and Karen Son, Chief Finance Officer of Sakura Autoworld, Inc.

www.businessmirror.com.ph • businessmirror.lifestyle@gmail.com

Parentlife BusinessMirror

Editor: Gerard S. Ramos • Thursday, August 13, 2026

When digital meets tangible: Exploring the nextgen way of play HP INKredible Learning Day featured exclusive HP printables by photographer and visual artist Geloy Concepcion, with HP Trish Alonzo, Home Printing Solutions category manager, HP Philippines; Ronie Lintao, product specialist, HP Philippines; and families and artworks. Congratulatios to the Callanta Family, who won the INKredible Post Award and took home an HP Smart Tank 580 printer after sharing how their family activity helped them “unleash [their] creativity to add color to this gloomy day” using HP x Geloy Concepcion printables.

HERE is no denying the reality our children are growing up in. Their world is digital and definitely increasing day by day. Technology allows them to discover information within seconds, communicate across continents, create music and art, visit places virtually, and learn in ways we could never have imagined when we were children. Artificial intelligence is expanding those possibilities even further. For our children, technology is in the “air they breathe.” Yet, as a parent and educator, I also see the other side. A screen can bring the world to our children, but it can also pull them away from the world immediately around them. Digital experiences can encourage creativity, yet passive screen use can replace physical movement, face-to-face conversations, imaginative play and precious family time. I have never believed the answer is simply digital vs. physical. I believe the future lies in bringing the best of both together. This is why I have become a firm believer in phygital learning—physical plus digital, or what I like to call now “The NextGen Way of Play.” For me, phygital learning means using technology to augment, not replace, children’s experiences in the tangible world. A child can learn something digitally and then build it, draw it, discuss it, act it out, or experience it physically. Technology becomes the doorway, while real-world exploration completes the journey. More importantly, phygital experiences can become opportunities for families to connect. Instead of a child disappearing alone into a screen, why not explore that digital world together and then bring something from it into family life? This is why I appreciated the recent HP INKredible Learning Day, a hands-on workshop held during the back-to-school season that celebrated creativity, storytelling and meaningful family connections. Visual artist and storyteller Geloy Concepcion guided families through printed photographs, personal storytelling and creative keepsakes, demonstrating how print can support learning, creative projects and even practical needs for work and entrepreneurship. I especially liked the idea behind the activity because it demonstrated a very simple form of

phygital living. We take hundreds of photographs on our phones, but how many become something our children can actually hold? Geloy captured this beautifully: “We’re constantly creating memories, but so many of them stay inside our phones. Print gives us a chance to slow down, revisit those moments, and transform them into something we can see, hold, and share with the people around us.” During the workshop, parents and children worked together with HP Printables, printed family photos, stickers, postcards and other creative materials to personalize keepsakes and tell their own family stories. The accompanying photos show exactly what appealed to me: parents and children sitting side by side, drawing, writing and coloring together. The HP Smart Tank 580 was used to print family photos, activity sheets, keepsakes and learning materials. According to HP, it offers print, scan and copy functions, wireless connectivity and low-cost ink refills for school, home, creative and business needs. I have been searching for this same synergy in children’s toys. I became interested in AI- and ARenabled toys that don’t simply entertain children digitally but encourage them to interact, imagine and learn. I was so happy when I discovered PlayShifu’s Doctor set and Orboot Globe. I love the idea of transporting our children into the worlds of doctors and explorers—not simply watching these worlds, but

participating in them. I equally enjoyed discovering physical games inspired by something children already recognize digitally: Minecraft. Seeing family games such as Minecraft-themed claw machines, air hockey and pinball made me think about another side of phygital play. Children may first love the characters because of a digital game, but that interest can become an invitation to put the gadget down, move, compete, laugh and play with siblings, parents, grandparents, or friends. And perhaps that is the bigger opportunity before us. Instead of constantly asking, “How do I get my child away from the screen?,” maybe we should sometimes ask, “How can I take what fascinates my child on the screen and bring it into real life?” Our children don’t need us to recreate the childhood we had. Their world is different, and their future will be even more so. What they need is our guidance in learning when technology can expand their possibilities, and when it is time to look up, use their hands, move their bodies, speak to another person and simply be present. Because the most powerful technology should not disconnect our children from real life. It should inspire them to explore more of it. So when digital discovery ultimately leads our children back to creating, playing, talking and laughing with the people they love, then technology has done something truly meaningful. Let’s do phygital play as a family today.

SCHOOL BACKPACK OVERLOAD: HEAVY BAGS CAN STRAIN KIDS’ BODIES

BACKPACKS can be fashionable and functional, but they can also be too heavy— weighed down by digital devices, musical instruments, sports equipment and more. Some kids carry home a laptop or tablet and textbooks, too. It’s good to be prepared, but kids who walk to school or participate in extracurricular activities may be lugging more than their bodies can handle. Lockers and classroom storage aren’t available everywhere — and a child carrying too much weight might not be ready to learn. Here’s how to know if your child’s backpack is too heavy, and how to lighten their load.

HOW HEAVY IS TOO HEAVY?

THE modern school backpack has evolved, but it hasn’t necessarily gotten lighter. Whether students have textbooks, digital devices or both, they often are accompanied by notebooks, water bottles, lunch containers, workout clothes and more. Individually, those items may not seem heavy, but together they can add unnecessary strain to children’s bodies. According to the American Academy of Pediatrics, signs a backpack may be too heavy include a child leaning forward to support its weight or having difficulty walking. Straps should not dig into shoulders. Don’t wait for a child to express discomfort or pain to lighten the load, experts say. Dr. Sadika Kendi, a physician who chairs the academy’s injury-prevention efforts, says back injuries are uncommon but possible, particularly if a child falls while carrying a heavy backpack.\ “It’s worse if, for example, they trip and fall and they have a huge, heavy backpack on their back. Then that’s just more weight that could increase the severity of an injury,” she said. Although 10 percent to 15 percent of a child’s body weight is often cited as a backpack guideline, there isn’t enough evidence to establish a one-size-fits-all approach, Kendi said. Because children vary in size, strength, physical development and daily routines, caregivers should consider their child’s individual needs and, in general, keep backpacks as light as possible. AP

‘Help, my child has a gaming disorder!’: 3 red flags and 6 ways to monitor behavior UNTIL the horrific shooting at San Jose National High School in Tacloban, Leyte, last June 22, when three students were killed and 20 injured from gunfire allegedly inflicted by two students aged 14 and 15, few people had heard of the name GoreBox. Described as a “chaotic, physics-driven sandbox game where creativity meets unrestrained destruction,” the online game was said to be a favorite pastime of the 14-year-old perpetrator. As the investigation continues, the 14-year-old has been placed under a mandatory intervention program of the Department of Social Welfare and Development and his 15-year-old companion has been criminally charged. As for GoreBox? It was temporarily banned by the Cybercrime Investigation and Coordinating Center. Does taking away GoreBox and other similar online games mean the end of gaming-related violence? Not quite, says Paul Lawrence Filomeno, MD, a board-certified Pediatrician from the Philippines’ top hospital Makati Medical Center (MakatiMed, www.makatimed. net.ph) and a Specialist in Addiction and Recovery Medicine with a focus on screen gaming and digital behavioral addictions in children and adolescents.

MULTISYSTEMIC, COMPLEX ISSUE

“GAMING violence is a violent behavior that can be triggered by some factors,” explains Filomeno. “That is partly because the game has different dynamics and dimensions that push the child toward

Philippine General Hospital, enumerates three red flags: n Loss of control. They attempt to play for one hour. Five hours later, they are still at it. And it is not only that they can’t stop, but they also prioritize playing over real-world commitments like doing their homework, turning in a project, or keeping their room clean. n Functional impairment. This is when gaming reaches a point where it interferes with eating, sleeping, school, hygiene, hobbies, and relationships with family and friends. n Difficulty in stopping. Failing grades, cutting class, and giving up their allowance and personal belongings just so they can play is truly troubling behavior.

MULTIDISCIPLINARY APPROACH violence. But violence can only be done or committed by an accumulation of multiple risk factors. We look at their environment at home, at school, social pressures, history of bullying, and cultural and familiar norms about violence. If they live in an environment where violence is also normalized, then it is easier for them to be influenced, to be violent as well in real life.” “To blame the game itself would be lacking,” he declares. “It is multisystemic, and a very complex issue.” Indeed. While it is easy to assume a child has a gaming addiction and violent tendencies because he spends most of his waking hours immersed in combat and

hack-and-slash games, it is not always the case. “There are those who game for five hours, but can bounce back to real life,” says the MakatiMed doctor. “Then there are gamers who only play for two hours, but the stimulating game has a huge effect on their behavior. They cannot stop thinking about the game, and there are sacrifices involved in terms of their academic and social relationships.”

RED FLAGS

WHAT then are the signs of a child with a gaming disorder? Filomeno, the first Filipino pediatrician to complete a formal Subspecialty in Addiction Medicine from the University of the Philippines’

GAMING disorder is treated through a multidisciplinary approach that involves the expertise of Guidance Counselors, Pediatricians, Child Psychologists, and Addiction Specialists. Still, Filomeno believes that family is the first component of the healthcare team. “Ninety percent of the effort is delegated to the family,” he highlights. In fact, it is family that can help steer a youngster with a gaming disorder back on track. “No intervention is effective if the parents aren’t modeling [good behavior],” Filomeno says. “So, if you want your child to sleep early, they need to see an adult who sleeps early as well.” The same rule applies to gadgets. Do you want your child to stop gaming? Put down your phone or tablet.

FOR parents to observe how gaming is impacting their kids, Filomeno cites the six S: “The first S that they need to monitor is ‘sleep’. Sleep is a marker of a possibility that you need to protect the child if his gaming is affecting his sleep. Second, as a parent, you need to protect their ‘safety’. Do you have measures to verify that your child is not talking to strangers when he games? The third S is ‘self-regulation’. Does my child turn to gaming when he is sad? What behavior does he manifest when I ask him to reduce his screen time?” In the fourth S or “school”, academic performance can be a gauge of gaming’s influence. Have their grades dropped or improved since your intervention? The fifth S is “social connection”. “A very important milestone in childhood,” reminds Filomeno. “Does your child know how to interact with people?” The sixth and most important S is “security”. Are you on top of things when your child is online? Remember, change does not happen overnight. It will occur in increments and may even fall back to old patterns. But with your patience, participation and love, you can regulate your youngster’s gaming habits to a safe and satisfying level. “The outcomes of gaming disorder are measured by small steps,” avers Filomeno. “If he reduces his gaming from 8 hours to 7 hours, that’s already a big win. Small steps are still better than setting impossible expectations.”

Thursday, August 13, 2026

News

www.businessmirror.com.ph

Marcos nixes stiffer penalties for littering but says garbage situation in MM ‘critical’

RESIDENT Marcos on Wednesday thumbed down calls to impose stiffer penalties for improper waste disposal, saying the government must first ensure that people have adequate facilities where they can properly throw their garbage.

However, the President described the garbage situation in Metro Manila as “critical” as massive volumes of waste clogged waterways, worsened flooding, and disrupted the operation of critical drainage infrastructure. Marcos made the statements as he inspected the massive garbage buildup clogging waterways at the Diokno Pumping Station in Pasay City and the Baclaran River in Parañaque City. Asked about proposals to impose harsher penalties on people who improperly dispose of garbage, Marcos said enforcement must be accompanied by a functional waste-management system.

“It’s not useful to fine people for not throwing their garbage properly if there is no place to put their garbage. Of course people are aware that there are fines. No one wants to be fined,” Marcos told reporters in English and Filipino. “We also need to provide facilities where garbage can be thrown. Sometimes it is that simple. Sometimes the problem is just that simple,” he added. Marcos said the government must address both sides of the problem—improving waste-management facilities while ensuring that citizens properly dispose of their garbage. The administration is also

PRESIDENT Marcos answers questions from reporters during an inspection of the garbageclearing operation at the Baclaran River in Parañaque City on Wednesday. Marcos said imposing harsher penalties on people who improperly dispose of garbage must be accompanied by a functional waste-management system. PNA

pu r s u i n g a w a s t e - to - e ne r g y program that would process collected garbage and convert it into electricity, reducing the country’s dependence on landfills.

Accumulated garbage

MARCOS inspected ongoing clearing and waste collection operations at the Diokno Pumping Station on the Jose W. Diokno Boulevard North in Pasay City, where large amounts of garbage had accumulated.

“Just look at it. Doesn’t it look critical to you? It does to me. I wouldn’t call it a garbage crisis, but that is the problem we are facing,” Marcos told reporters when asked if he would describe the situation as a “garbage crisis.” Public Works Secretary Vivencio Dizon, who accompanied Marcos during the inspection, described the problem as a “garbage crisis” as waste materials clogged key waterways across the capital region,

exacerbating flooding amid days of continuous heavy rains brought by the enhanced southwest monsoon or habagat. The President said the garbage buildup was directly affecting f lood-control operations, with waste entering waterways and quickly clogging pumping stations once water is allowed to flow. He said the Diokno Pumping Station had been built years ago but had never operated until it was finally put into use during last year’s typhoon season. You can see that if we do not clean this, the pumping station immediately gets clogged, and this is the volume of garbage that gets in, he said. Marcos said much of the garbage was not from the immediate area but had been carried from Manila Bay, with high tide and f loodwaters contributing to its accumulation around the pumping station. The government is clearing garbage from incoming water before it reaches the pumping facility as part of efforts to keep critical drainage infrastructure operational. See “Marcos,” A7

Main question on Sara’s CIF: Where did the money go? By Jovee Marie N. dela Cruz @joveemarie

HE House prosecution panel said the central question surrounding the confidential and intelligence funds of Vice President Sara Duterte’s offices remains unanswered: Where did the money go? Prosecution spokesperson Kabataan Rep. Renee Co said testimony from Commission on Audit (COA) witnesses raised further questions about how the funds were used. She urged the Senate Impeachment Court to continue examining the transactions until the recipients and purposes of the money are clearly established. COA testimony identified several concerns involving the confidential funds of the Office of the Vice President (OVP) and the Department of Education (DepEd) while Duterte headed both offices. These included acknowledgment receipts used without sufficient supporting documents, questionable recipient names, transactions lacking proof of actual purchases or activities, and reported disbursements made in different locations on the same day. “The totality of the circumstances is serious,” Co said. She added that the acknowledgment receipts, names, signatures, and other irregularities required further explanation. Co stressed that submitting documents is not enough if they do not show what happened to public money. The funds must be traced to their actual recipients and purposes. Joint Circular 2015-01 sets rules for the release, use, reporting, and audit of confidential and intelligence funds. Although some operational details cannot be disclosed publicly, government agencies are still required to account for these funds. The prosecution questioned

transactions involving alleged purchases of medicines, food, and other supplies because auditors could not always confirm from the acknowledgment receipts whether the purchases or activities actually occurred. “Just because the funds are confidential does not mean they no longer need to be accounted for,” Co said. “We need to determine where the money actually went.” For the prosecution, accountability requires sufficient evidence show i ng where publ ic funds went, who received them, and how they were used. The COA testimony forms part of the evidence in the impeachment case against Duterte over the alleged misuse of confidential funds.

Discrepancies

THE prosecution does not expect to present more acknowledgment receipts after selecting examples it believes show the most serious discrepancies in the confidentialfund records, Co said. Co added the documents were chosen from thousands of receipts involving the confidential funds of the OVP and DepEd. “There are thousands of acknowledgement receipts, but only a few were presented because they showed the worst discrepancies,” she explained. Prosecutors questioned the names, dates, purposes, and supporting documents listed in the receipts. House prosecution counsel and spokesperson Benjamin Tolosa Jr. said presenting more examples would add little and consume valuable trial time. “I do not expect new acknowledgment receipts, but we will wait for the responses during cross- e x amination and t he questions from the senators,” Tolosa said. See “Sara,” A7

Group twits Palace on garbage By Jonathan L. Mayuga @jonlmayuga

MAGES of garbage piling up and floating in parts of Parañaque City after days of rain exposed the country’s persistent waste management crisis, environmental justice group BAN Toxics said, as it calls out recent pronouncements from Malacañang emphasizing the supposed lack of discipline and irresponsibility of ordinary Filipinos. The group said such statements risk shifting the burden of a systemic problem onto the public while failing to address the government’s responsibility to fully implement the solid waste management laws. “ We recognize that proper waste management requires the participation of every citizen. However, individual accountability cannot be used as an excuse for the government’s failure to fulfill its responsibilities. The government has the mandate, resources, and legal obligations to establish systems that make proper waste management possible and accessible,” Thony Dizon, Advocacy and Campaign Officer of BAN Toxics said in a statement. “We also urge the government and local governments [LGU] to strengthen public education on proper waste management. Yes, waste management is a shared responsibility, but it can only be achieved through proper education and access to adequate waste facilities,” Dizon said.

Implementation

BAN Toxics calls for a comprehensive review of the implementation of the Ecological Solid Waste Management Act of 2000 (Republic Act 9003) and stronger enforcement measures amid the worsening waste crisis. RA 9003 requires LGUs to plan, implement, and finance localized solid waste management programs, including mechanisms for waste reduction, recovery, recycling, and diversion. Yet challenges such as improper waste disposal, inadequate infrastructure, and gaps in public awareness persist, underscoring the need for stronger implementation of the law. The law mandates LGUs to establish a Materials Recovery Facility (MRF) in every barangay or cluster of barangays. However, according to the Compendium of Philippine Environment Statistics (CPES), the country had only 20,458 MRFs in 2025, highlighting a significant gap in the implementation of the law given that there are more than 42,000 barangays nationwide. According to the group, LGUs must also be held accountable for failing to implement R A 9003 and comply with their 10-year Solid Waste Management Plans, including their obligations on waste diversion.

Waste diversion

UNDER the law, LGUs are required to divert at least 25 percent of solid waste from disposal facilities through practices such as reuse, recycling, composting, and other resource recovery measures. However, waste diversion and recovery efforts often rely heavily on informal channels, including junk shops and the work of waste collectors and waste pickers. “Informal waste workers segregate waste, recover recyclable materials, and earn a living from discarded materials. We must recognize their vital role in waste recovery and recycling,” Dizon said. See “Garbage,” A7