Manila Standard - 2022 March 10 - Thursday

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Comelec suspends Rappler deal; ‘Regrettable,’ online news site says THE Commission on Elections has suspended the implementation of its voter information campaign deal with news site Rappler after the Office of the Solicitor General asked the Supreme Court to nullify it. Acting Comelec chairperson Socorro

VOL. XXXVI • NO. 28 • 3 SECTIONS 12 PAGES • P18 • THURSSDAY, MARCH 10, 2022 • www.manilastandard.net • mst.daydesk@gmail.com

Inting signed the memorandum ordering the suspension, addressed to poll body spokesperson James Jimenez. “Given the allegations against Rappler and the subsequent filing of the petition with the Supreme Court, it is Next page

Govt eyes basic wage hike

P750 nationwide up for review, oil prices may hit P12/l next week • Palace considering fuel excise tax halt • Peso loses vs. dollar By Alena Mae S. Flores, Vito Barcelo, Maricel V. Cruz and Macon Ramos-Araneta

T

HE government is eyeing to raise the minimum wage nationwide to help workers and their families cope with a looming oil crisis as gasoline prices could rise by a staggering P12 per liter next week following the decision of the United States to ban imports of Russian oil, industry sources said.

President Rodrigo Duterte also met with finance officials to consider suspending excise taxes on fuel to soften the blow. “The increase in the price of diesel and gasoline will be different but if you are referring to a general number, an P8 to P12 per liter increase is correct,” said one industry source, who requested anonymity. Next page

US bans import of Russian oil, UK to follow suit THE United States has banned imports of Russian oil, firing one of its biggest economic weapons against Moscow over the war in Ukraine. Britain said it would join the United States in phasing out Russian oil by year’s end while oil giants BP and Shell announced an immediate halt to Russian oil and gas purchases. The European Union also said it would slash gas imports by two-thirds. The spike in energy prices caused by Russia’s war in Ukraine will produce effects comparable to the 1973 oil shock, French Economy Minister Bruno Le Maire warned on Wednesday. “This has a name: stagflation, and it’s precisely what we want to avoid in 2022,” Le Maire told a conference in Paris. The current energy crisis was “comparable in intensity, in brutality, to the oil shock of 1973,” he said.

COLLATERAL DAMAGE. A woman counts dollar bills at a money exchange center in Mabini, Manila. The peso is facing headwinds from spiraling oil prices, breaching the 52-perdollar mark this week for the first time since Sept. 2019. Consumers are likewise bracing for a possible increase in prices of basic goods, including meat and vegetables as well as grocery items as the government rolls out a range of measures to cushion the economy from a possible energy price fallout. Inset photo (lower right) shows an inspector from the Department of Energy checking the price and the weight of a liquified petroleum gas (LPG) cylinder at a retail outlet in Parañaque City on Wednesday, March 9, 2022. Norman Cruz and Danny Pata

PH trade deficit at $50b seen as global costs soar UN chief warns pandemic not yet controlled By Julito G. Rada

THE country may incur a record trade deficit of $50 billion this year as prices of global commodities led by oil, as well as natural gas, wheat, nickel and copper soar as a result of the ongoing Russian invasion of Ukraine, an economist said Wednesday. Rizal Commercial Banking Corp. chief economist Michael Ricafort told

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Manila Standard that the country’s import bill and trade deficit could widen further this year. “The trade deficit estimate for 2022 would be wider -- around-$43 billion to $45 billion, after $43.1 billion in 2021,” Ricafort said. “However, in view of Russia’s invasion…, the country’s trade deficit could widen towards $50 billion in view of the sharp increase in global oil prices to new 13.5-year highs [since July 2008]

as well [as] sharp increase in the prices of other imported global commodities such as wheat and flour, soybeans, corn, other grains, and metals, all of which would increase the country’s oil and commodity import bill in the coming months,” Ricafort said. Furthermore, he said measures to further re-open the economy towards greater normalcy, especially in view of the proposal by the country’s econom-

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LTFRB allows provincial buses to resume interzonal trips THE Land Transportation Franchising and Regulatory Board has announced that provincial Public Utility Buses are now allowed back for inter-regional trips. Memorandum Circular 2022-023 covers public bus operators with valid

By Maricel V. Cruz OFFICIALS from Abra led by Gov. Maria Jocelyn Bernos and Rep. Joseph Sto. Niño Bernos joined Wednesday Solid North local executives in supporting the UniTeam presidential-vice presidential tandem of former Sen. Ferdinand Marcos Jr. and Davao City Mayor Sara Duterte-Carpio. Before the candidates arrived, Rep. Bernos, a member of the Nacionalista Party, said the people of his province were excited to welcome the UniTeam candidates. “Abra is BBM-Sara country,” he said. The UniTeam slate, including its senatorial aspirants, held a motorcade and a rally in Abra before proceeding to Kalinga Wednesday afternoon. Next page

and existing certificates that assure public convenience, provisional authority, and the necessary special permits. The bureau also reminded that health and safety protocols must always be observed.

Buses plying the provincial commuter routes in the Calabazrzon region are now allowed back to take passengers in their original Araneta Bus Terminal in Cubao, Quezon City. But provincial commuter routes with

pre-pandemic end point at Buendia, Makati, Pasay, and Manila will still have to use the Parañaque Integrated Terminal Exchange (PITX), including routes coming from Quezon Province,

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Abra is BBM-Sara country, part of Solid North—provincial execs

AFTER two years, the COVID-19 pandemic is not yet over and could be prolonged further due to “scandalously unequal” vaccine distribution, the UN secretary-general warned Wednesday. “The pandemic’s most tragic toll has been on the health and lives of millions, with more than 446 million cases worldwide, more than six million deaths confirmed, and countless more grappling with worsening mental health,” said UN chief Antonio Guterres in a statement marking the second anniversary of the global crisis. Next page

Duterte orders probe of gone ‘sabungeros’ By Vito Barcelo and Rey E. Requejo

SOLID NORTH. Presidential aspirant Ferdinand ‘Bongbong’ Marcos Jr. addresses the crown during a rally at the Abra Sports Complex on Wednesday. Ver Noveno

THE Palace on Tuesday ordered the Philippine National Police (PNP) and the National Bureau of Investigation (NBI) to conduct a joint investigation into the case of at least 34 missing cockfighting aficionados. Executive secretary Salavdor Medialdea signed a memorandum directing the PNP and NBI to submit their findings to the Office of the President and Department of Justice within 30 days. Next page


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