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INFLATION RISES TO 5.7%; BSP MULLS OVER OPTIONS
Business B1
Watch for Manila Standard’s Special Report on the Economy August 15, 2018 VOL. XXXII • NO. 174 • 3 SECTIONS 16 PAGES • P18 • WEDNESDAY, AUGUST 8, 2018 • www.manilastandard.net • editorial@manilastandard.net
House steps up Cha-Cha bid Arroyo files reso, pushes Con-Ass with new twist By Maricel V. Cruz
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PEAKER Gloria Macapagal Arroyo on Tuesday filed a resolution calling for separate voting by the House of Representatives and the Senate if they convene as a constituent assembly to rewrite the 1987 Constitution.
MAIDEN NAME. House Speaker Gloria Macapagal Arroyo attends Tuesday the hearing of the Committee on Revision of Laws discussing her proposed bill, Resolution 6028 or the Act Allowing Women To Revert To Their Maiden Name even without a court order.
Customs seizes PDP-Laban, Hugpong on same side—Koko P4b worth of By Macon Ramos-Araneta shabu from KL By Vito Barcelo AT LEAST 500 kilos of shabu worth more than P4 billion were seized by the Bureau of Customs at the Manila International Container Port, the biggest haul of illegal drugs this year. Customs Commissioner Isidro Lapeña said the shipment, which came from Malaysia, was consigned to Vedacio Cabral Araquel, a resident of 712 Galicia St., Sampaloc, Manila. The shabu was hidden in several boxes inside a 24-footer container van that arrived in Manila on June Next page 28.
Redford, 81, bares last acting gig NEW YORK—Robert Redford, the screen legend and Oscar winner, has announced that he’s retiring from acting at the grand old age of 81, with upcoming movie “The Old Man & The Gun” his last gig in front of the camera. Next page
SENATOR Aquilino Pimentel III on Tuesday said his PDP-Laban and Hugpong ng Pagbabago, the party led by Davao Mayor Sara Duterte, were “united in its support for the President” despite being two separate organizations with their own members. “Allies of the President may belong to one or both of these parties but we are all on the same side; we
all stand by the President,” said Pimentel, PDP-Laban president. “As I have stated to my party mates, Hugpong ng Pagbabago is a regional party, PDP-Laban is a national party. There is really no problem with dual membership in the national party and regional party,” he said. Duterte is also the chairman of PDP-Laban, the current ruling party. With elections still nine months away, government officials should focus on governance, not politics,
Suarez retains post as ‘legit’ minority head By Maricel V. Cruz QUEZON Rep. Danilo Suarez is the legitimate minority leader as far as the House of Representatives is concerned. Suarez retained his post as the minority leader after the House voted Tuesday in favor of Suarez through a voice vote, after Majority Leader and Camarines Sur Rep. Rolando Andaya Jr. moved to finally resolve the issue. Next page
By Nat Mariano and Othel V. Campos PRESIDENT Rodrigo Duterte has sacked the entire board and management of Nayong Pilipino Foundation for leasing government property for 70 years, Malacañang announced Tuesday. Presidential spokesman Harry Roque said the President has ordered the dismissal of the NPF officials as he expressed his exasperation over the continuing corruption in the government during the 28th Cabinet meeting Tuesday. “The President cited the case of Nayong Pilipino, which leased government property for a ridiculously long period of time of 70 years, beyond the life of anyone. The President considered this... contract… grossly disadvantageous to the government,” said Roque in a press briefing Tuesday. He added that the papers that will formally terminate the entire board and all the managers of the cultural park in Clark, Pampanga will be issued soon.
Panel sweetens TRAIN 2 as TRABAHO THE House of Representatives’ committee on ways and means on Tuesday expressed hope that the second package of the administration’s tax reform law will be acceptable to the Filipino people by labeling it as the Tax Reform for Attracting Better and Highquality Opportunities or TRABAHO. This came after the committee, led by Dakila Carlo Cua, approved the sub-
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Rody fires entire board of ‘Nayon’ over 70-yr lease
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By Maricel V. Cruz
Pimentel said. “The President’s agenda supercedes any political agenda. Politics can wait but our people cannot. Let’s work now and worry about politics later,” he said in a mix of English and Filipino. Pimentel said that PDP Laban would continue to follow the lead of President Duterte, the party’s chairman, who enumerated the administration’s priorities in his third State of the Nation speech. Next page
At the same time, Arroyo instructed lawmakers not to focus anymore on the “substance” of the proposed federal charter so as “not to waste time” as these questions should be left to the constituent assembly. In House Resolution 2056, Arroyo expressed hope that efforts to amend the Constitution to effect the shift to federalism will finally take off. “There is an urgent need to convene the Senate and the House of Representatives as a Constituent
stitute measure that is aimed at sustaining the Philippines’ strong fiscal performance and aggressive spending plan into the medium term. “There is no more TRAIN 2. The second package of the administration’s tax reform law is dubbed as TRABAHO, which goal is to create jobs by attracting the right set of investments through incentives,” Cua said after the bill’s pasNext page sage in his committee.
INTEGRATED RESORT. Landing Philippines chairman and executive director Yang Zhihui (5th from left), Landing COO David Hoon (1st from left) and Landing CEO Jay Lee (2nd from left) head the groundbreaking ceremony for the construction of the $1.5-billion Nayon Landing Integrated Resort in Parañaque City. The rites were attended by local officials including Nayong Pilipino chairman Patricia Ocampo, Rep. Eric Olivarez, Parañaque Mayor Edwin Olivarez, Pagcor chairman Andrea Domingo and Pagcor president Alfredo Lim. The construction is expected to generate 40,000 jobs. Lino Santos
WEATHER ‘Price swings erode workers’ buying power’ ‘Karding’ induces By Vito Barcelo monsoon rain TROPICAL Depression “Karding” will continue to enhance the southwest monsoon, expected to spawn monsoon rains in Northern Luzon although it would not make a landfall, weathermen said Tuesday. As of 4 p.m. Tuesday, “Karding” was estimated at 1,215 kilometers east of Calayan, Cagayan with Next page
THE Associated Labor Unions-Trade Union Congress of the Philippines said Tuesday high inflation was pushing down the workers’ buying power as it criticized the government and employers for their alleged lack of social responsibility. The labor group said the rising prices of goods and the surging cost of services were continuing to pull down the capacity of workers to buy goods and to pay for services. In other developments:
• The poorest 60 million Filipinos suffered income loss due to inflation in the first six months of 2018, the research group IBON Foundation said on Tuesday. It estimated loss at between P993 and P2,715 and blamed it on high inflation. The inflation rate increased from 3.4 percent in January 2018 to 5.2 percent in June of the same year. • Finance Secretary Carlos Dominquez on Tuesday assured senators that his department’s prudent debt management and fiscal discipline had prepared it for the changing global trends. Next page