BusinessMirror November 15, 2023

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BRIGHTLEAF TRIUMPH

BusinessMirror received two of the major awards at the 16th Bright Leaf Agricultural Journalism Awards. Henry Empeño secured the prestigious title of Best Agriculture Story of the Year with his compelling narrative, “Good as Gold,” delving into the challenges and prospects of Zambales’s mango industry. Cai U. Ordinario, Jovee Marie Dela Cruz, and Jovy Nelle Rodriguez, a journalism student from the Lyceum of the Philippines University, clinched the Best Feature Story of the Year award for their insightful piece on the Philippines’s sugar crisis, titled “Skyrocketing sugar prices stoke industry liberalization stakes.” Accompanying them in this triumph are BusinessMirror Editor in Chief Lourdes M. Fernandez and Associate Editor and Agriculture page editor Jennifer A. Ng. ROY DOMINGO

BusinessMirror A broader look at today’s business

EUROPEAN BIZ CHAFES AT PORT STORAGE HIKE www.businessmirror.com.ph

n Wednesday, November 15, 2023 Vol. 19 No. 35

P25.00 nationwide | 2 sections 24 pages | 7 DAYS A WEEK

By Andrea E. San Juan @andreasanjuan

T

HE European Chamber of Commerce of the Philippines (ECCP) on Tuesday expressed concern over the Philippine Ports Authority’s (PPA) proposed increase in storage charges for foreign containerized cargo, saying this will reduce the competitiveness of the Philippine market. “We need to ensure the competitiveness of the Filipino market so if you put taxes and more blocks— that makes trade more difficult. It’s not helping,” ECCP President Paulo Duarte told reporters on the sidelines of a forum on Tuesday in Makati City. Duarte was referring to a PPA proposal, aired at a public consultation last October 18, to increase by 32 percent the storage charges for import, export and transshipment containers; and by 150 percent the surcharges of the corresponding storage rates with increase for reefer containers. Describing the Philippines’s current macroeconomic data as “very favorable,” the ECCP President said, “we need to continue this path, and not to create more blocks.” According to a statement issued by the Philippine Exporters Confederation Inc. (Philexport) on Friday, the port regulator said foreign cargo are assessed for storage charges when they remain at PPA ports beyond the fee storage period (FSP). In justifying its proposal, the See “ECCP,” A2

OUR SEAS, OUR HOPE A father and daughter engage with a powerful image at the “Not One Inch: Our Seas, Our Hope” exhibit staged by Pinoy Aksyon (Pilipino Aksyon for Governance and the Environment), a volunteer-run non-profit organization. The exhibit, showcased through various media, installments, and exhibitions, is currently hosted at Robinsons Galleria in Quezon City from November 13 to 23, 2023. This poignant display sheds light on the repercussions of the ongoing West Philippine Sea maritime dispute on Filipino fisherfolk. Visitors are invited to delve into the history behind the region, providing a profound and thought-provoking experience. NONOY LACZA

BILL SETS NEW RULE FOR USE OF EXCESS FUNDS OF GOCCS By Jovee Marie N. Dela Cruz @joveemarie

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HE House Committee on Appropriations on Tuesday approved a proposal providing additional criterion for the release of unprogrammed appropriations and utilizing excess funds from government-owned and -controlled corporations (GOCCs) by amending Republic Act No. 11936, or the 2023 General Appropriations Act (GAA). House Bill 9513 was principally authored by House

Com m it te e on Way s a nd Means Chairman Joey Sarte Salceda. Salceda said he filed the bill to maximize the idle funds of the GOCCs while filling the national government’s requirements and funding much-needed unprogrammed projects: “instead of burdening the national government with more foreign loans, these government corporations can readily provide the necessary funds for the aforesaid purposes.” See “GOCCs,” A2

BOC nets ₧764.7B from Jan-Nov. 10, above target

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HE Bureau of Customs (BOC) announced that it generated P764.68 bi llion in revenues from January to November 10,2023, outpacing the P744.57-billion target on the back of increased trade activities, among others. At a forum organized by the European Chamber of Commerce of the Philippines (ECCP) on Tuesday in Makati City, BOC Commissioner Bienvenido Rubio said, “I am pleased to share with all of you that from January to November 10, 2023, the BOC exceeded its collection target by generating a total of P764.68 billion in revenue.”

Rubio said this is P20.12 billion or 2.7 percent higher than the agency’s P744.57-billion target. He also noted that this “achievement” may be attributed to “increased trade activities, enhanced customs operations and our reinforced efforts to improve lawful revenue collection.” Meanwhile, in the agency’s pursuit to “protect the borders of our country from illicit trade in goods,” the BOC commissioner said BOC’s anti-smuggling campaign has resulted in the seizure of US$41.9 billion worth of prohibited goods See “BOC,” A2

PESO EXCHANGE RATES n US 56.0500 n JAPAN 0.3695 n UK 68.8238 n HK 7.1784 n CHINA 7.6902 n SINGAPORE 41.2496 n AUSTRALIA 35.7599 n EU 59.9791 n KOREA 0.0425 n SAUDI ARABIA 14.9439 Source:

BSP (14 November 2023)


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