Manila Standard - 2018 September 6 - Thursday

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PESO DIVES TO 12-YEAR LOW AT 53.55 VS US DOLLAR B1 ‘Bukbok rice safe but not amag’ THERE is no harm in eating weevilinfested rice that’s properly washed and cooked, a scientist said Wednesday, but people should watch out for the growth of molds in their rice stock. If mold or “amag” is present in any rice stock, it means a severe infestation of weevils or “bukbok,” which could endanger human health, weed science ex-

pert Dr. Pio Javier told UNTV News. Health Secretary Francisco Duque III agreed with the scientist even as he urged the Bureau of Quarantine to strictly monitor agricultural products being shipped into the country, as foreign insect species that travel through these shipments could endanger the country’s agriculture sector. Next page

VOL. XXXII • NO. 203 • 3 SECTIONS 16 PAGES • P18 • THURSDAY, SEPTEMBER 6, 2018 • www.manilastandard.net • editorial@manilastandard.net

Cost of living hits 9-year high Inflation surges to 6.4% in wake of food shortages, rising prices night borrowing rate of 4 percent is currently below the inflation rate. BSP Governor Nestor Espenilla said conditions warranted “more decisive non-monetary measures.” “Elevated oil prices also continue to impact transport and power prices. At the same time, the peso [along with other currencies] is being adversely affected by emerging market uncertainties and a strong US dollar. These are adding to the cost-push pressures,” Espenilla said in a statement. “However, it is equally apparent that strong domestic demand is making it too convenient for producers and traders to pass on higher costs and possibly more to consumers,” he said. Next page

By Julito G. Rada

T

HE rate of inflation jumped to a nineyear high of 6.4 percent in August from 5.7 percent in July, on soaring prices of rice, fish and other food products, the Philippine Statistics Authority said Wednesday.

Analysts said the latest inflation data could compel the Bangko Sentral ng Pilipinas to raise interest rates again this month, after a total of 100-basis-point adjustments in three separate Monetary Board meetings this year. The Bangko Sentral ng Pilipinas over-

Bigger fuel discounts for PUVs sought By Alena Mae S. Flores ENERGY Secretary Alfonso Cusi on Wednesday urged the oil distributors to continue providing discounts to jeepneys after Pilipinas Shell Petroleum Corp. announced an additional discount of P0.25 per liter. He made his plea even as the House of Representatives, in a viva voce voting Tuesday night, approved on second reading House Bill 8083 or the Tax Reform package for Attracting Better and High-quality Opportunities or TRABAHO bill. The House approved the bill in a plenary session presided by Deputy Speaker Sharon Garin. The bill aims to reduce the corporate income tax by two percent every 2 years beginning 2021 until 2029. By then, the CIT would have been brought down to 20 percent from 30 percent now. Speaker Gloria Macapagal Arroyo was present when

Rice, meat, fish, electricity fuel inflation spike —Budget chief

the voting was conducted. She earlier said the second package of the Tax Reform Acceleration and Inclusion or TRAIN Law was a priority measure under her leadership. Shell heeded the Energy department’s call to come up with more measures to help curb inflation. The discount it offered is over and above the P1 to P2 per liter discount open to public utility vehicles under the memorandum of understanding of the department with Shell, Petron Corp. and Phoenix Petroleum Philippines Inc. signed on March 1. “We thank Pilipinas Shell

By Nat Mariano and Maricel V. Cruz

Trillanes still a free man; court yet to rule on arrest

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Another mayor on Rody’s list of ‘narco-pols’ killed

By Rey E. Requejo, Macon Ramos-Araneta, Maricel V. Cruz and Nat Mariano SENATOR Antonio Trillanes IV will remain a free man until the Makati City regional trial court grants the Department of Justice’s motion seeking the issuance of an updated warrant of arrest against him, Justice Secretary Menardo Guevarra said Wednesday. The court earlier opted to hear Trillanes’ side before deciding whether to grant the DOJ motion. “The police will have to wait for the warrant,” he said in a text message, after President Rodrigo Duterte revoked the amnesty granted him in 2010 and ordered his arrest. Members of the Philippine National Police-Criminal

By Francisco Tuyay IN NOVEMBER last year, Ronda town Mayor Mariano Blanco told reporters that his life was in danger. He had just been stripped of his power over local police back then after President Rodrigo Duterte publicly accused him of being a narco-politician. At 1:30 a.m. yesterday, his fears came true—Blanco was shot dead by unidentified gunmen inside his office. “Witnesses said four armed persons alighted from a white van and entered the municipal hall... The mayor was there as he was sleeping in his office,” Sr.

PAYING BACK IN SPADES.

Crenelated Senator Antonio Trillanes IV, holed up at the Senate since Tuesday after the grant of amnesty to him was canceled, shows to members of media on Wednesday documents related to the grant during a news conference at Next page the Senate. Ey Acasio

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BUDGET Secretary Benjamin Diokno on Wednesday attributed the rise in the inflation rate in August to a nine-yearhigh of 6.4 percent to a spike in prices for food such as fish, rice, meat and vegetables. “The government efforts to tame inflation remain appropriate but must be delivered with a greater sense of urgency. The unconditional cash transfers and the Pantawid passes programs should be delivered much faster,” said the Budget chief in a text message. “Congress ought to act on the rice tariffication bill expeditiously. The share of these four food items to August inflation is 2.4,” he said. Duterte’s economic team said in a statement that the highest contributors to the latest inflation rate are electricity, gas, fuel, fish, rice, personal transport, vegetables, and meat. “A committed effort from government in the agriculture sector to boost supply of key products and introduce policy reforms will bring down prices for all Filipino families,” their statement read. The country’s top economic managers, together with the help of several

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Lotto produces 40 instant millionaires FORTY Filipinos became instant millionaires—some even multimillionaires—from January to August, sharing an aggregate Lotto jackpot prize of P1.63 billion. Next page

Du30 visit yields $83m worth of Israeli deals BY PUSHING to boost the economic partnerships with non-traditional trading partners like Israel, the Philippine government identified several business “complementarities” that resulted in investment pledges, business collaborations and intentions during President Rodrigo Duterte’s visit on Sept. 2 to 5, Malacañang said Wednesday. This strategy to continuously open investments and employment opportunities from non-traditional trading partners had resulted in securing $82.9 million worth of investments from Israel, the Palace said. It made the statement even as Duterte praised the disaster response and rehabilitation presentation and viewing of Israel’s equipment on Tuesday, saying he was inspired to replicate it in the Philippines. The Magen David Adom is Israel’s national organization responsible for emergency, disaster response, pre-hospital care and blood services, an equivalent of a Red Cross organization.

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BILLS FOR VEGETABLES. A customer hands over a P20-bill

after buying vegetables at a market in Manila almost a month back. The domestic economy slowed down sharply in the second quarter of 2018 and fell short of expectations as a result of policy decisions that included a shutdown of Boracay, with concern rising in this country of 106 million over inflation, which hit a nine-year high 6.4 percent in August. AFP

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Our weakest link actually is the agricultural sector. — President Rodrigo Duterte


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