Manila Standard - 2022 June 21 - Tuesday

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Incoming gov’t to pursue ‘clean’ mining, export of processed ore PRESIDENT-elect Ferdinand Marcos Jr. expressed a preference for collecting value-added taxes from the exportation of partially processed ore instead of hiking mining taxes to generate more revenues. Marcos said as a matter of policy,

VOL. XXXVI • NO. 126 • 3 SECTIONS 12 PAGES • P18 • TUESDAY, JUNE 21, 2022 • www.manilastandard.net • mst.daydesk@gmail.com

the county’s natural resource should be viewed as “a treasure which could help the Philippines a great deal.” “We must ensure that practices we see in mining operations are environmentally neutral, although that has not necessarily

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Marcos takes on Agri post for now

AGRI CHIEF FOR NOW. President-elect

Ferdinand Marcos Jr. speaks to the media Monday at the BBM campaign headquarters in Mandaluyong City. Marcos said he will take over the Department of Agriculture to reorganize it and held the country meet a looming food crisis. BBM Media Bureau

Sets DA reorg to face food crisis By Mervin Vince Lopez

P

RESIDENT-elect Ferdinand Marcos Jr. said he will head the Department of Agriculture when he assumes office on June 30 to allow him to reorganize the office to make it “ready” for the post-pandemic amid warnings of a food crisis in the second half of the year.

“I think that the problem is severe enough that I have decided to take on the portfolio of Secretary of Agriculture, at least for now and at least until we can reorganize the Department of Agriculture in the way that will make it ready for the next years to come,” Marcos said in a press Next page

BBM opts for ‘ayuda’ to affected sectors than suspend oil excise tax Peso at lowest By Alena Mae S. Flores and Maricel V. Cruz PRESIDENT-elect Ferdinand “Bongbong” Marcos Jr. prefers to provide aid to the sectors affected by the continuing increase in fuel prices instead of suspending the excise tax on oil.

This developed as oil companies raised pump prices across all products for the third consecutive week by as much as P3.10 per liter effective Tuesday to reflect the movement of prices in the world market. At a press briefing Monday, Marcos said decreasing the excise tax on oil

products does not help those affected by the soaring prices. He said those who are directly affected, especially the transport sector, should be prioritized. “I prefer to handle on the other hand of the equation and provide assistance to those who are in need. If you reduce

excise taxes that does not necessarily help those who are most in need, those who are really affected,” Marcos said. “So I’m thinking of giving assistance directly to those who are affected, those public utility drivers, let’s focus on them.” Next page

Lakas-CMD eyes as House majority party VICE President-elect Sara DuterteCarpio said her political party, the Lakas-Christian Muslim Democrats, is aiming to become the majority party in the House of Representatives. “I understand, based on the moves of Majority Leader Floor Leader Martin Romualdez, that (becoming the majority party) is his target,” Duterte-Carpio, Lakas-CMD chairperson, said in a press conference Monday following her inauguration in Davao City. As of June 14, two more lawmakers in the incoming 19th Congress have joined the party, bringing its strength to 52. Romualdez, touted to be the next House Speaker, swore in Salvador Pleyto Sr. (Bulacan) and Emeng Pascual (Nueva Ecija) as new members at the Lakas-CMD Headquarters in Mandaluyong City last week.

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PINOY LAWYER LAYLO DIES, 35 NEWS / A2

Sara tasked to review K-12, regain lost teaching ground COOL SCHOOL. Students of the Multimedia Arts School at the CIIT College of Arts and Technology in Mother Ignacia, Quezon City study with face masks on in this file photo. President-elect Ferdinand Marcos has asked Vice President-elect and incoming Education Secretary Sara Duterte-Carpio to review the country’s K to 12 education system that would prepare Filipino kids for higher learning. By Macon Ramos-Araneta PRESIDENT-elect Ferdinand “Bongbong” Marcos Jr. wants Vice Presidentelect Sara Duterte-Carpio to review the implementation of the K to 12 program in schools when the latter takes over the Department of Education next month. Duterte-Carpio, whom Marcos tabbed as Education Secretary, said Monday this is something that needs to be discussed and “cannot be decided overnight.”

“But initially, it is something that In his own press briefing yesterday in President Marcos and I have talked Mandaluyong City, Marcos said he does about. And he already gave instructions Next page with regard to the review of the implementation of the K to 12 program of the Department of Education,” she told reporters in Davao City, where she remains mayor until June 30. The K to 12 curriculum, first introduced in 2011 and implemented during the administration of the late President Benigno “Noynoy” Aquino III, has been under review for the past two years.

DOH warns of another ‘peak’ in COVID infections By Willie Casas THE Department of Health (DOH) is expecting more COVID-19 cases in the coming weeks as the country is now seeing another “peak” of infections, the agency said Monday. Health Undersecretary Maria Rosario Vergeire, in a CNN Philippines in-

terview, said they are closely monitoring the National Capital Region (NCR) where there has been a significant 70 percent increase in COVID-19 cases. Vergeire said that the average number of cases in the region has doubled compared to the previous week, and its average daily attack rate has also already gone up to 1.02.

“Right now what we’re seeing is that the number of cases is continuously increasing, especially here in the National Capital Region, and we can see that this is really the start of the peak in the number of cases,” Vergeire said. “We are again guiding the public and making them aware that this might be the Next page

in 44 months at 54 to US dollar

By Julito G. Rada THE peso on Monday pierced the 54-to-the-US dollar barrier, its weakest finish in 44 months, mainly on continued hawkish signals from the US Federal Reserve of further interest rate hikes in the coming months. The peso closed at 54.065, weaker than the 53.75 per dollar last Friday. It was the local currency’s weakest level since it hit 54.08 on Oct. 15, 2018. Total volume traded stood at $1.015 billion, up from $962.5 million Friday. Michael Ricafort, the chief economist of Rizal Commercial Banking Corp., attributed the peso’s further depreciation to the large 0.75 Fed rate hike on June 15, 2022. Ricafort also cited the “continued hawkish Fed signals” of another 0.50 or 0.75 rate hike by July 27, as the US central bank signaled its determination to bring US inflation back to the 2 percent level with aggressive interest rate hikes that could risk an economic slowdown or even a recession. “The peso also weakened after the recent increase in external debt data at $109.7 billion as of Q1 2022, with the external debt-to-GDP ratio at a nine-year high of 27.5 percent, but still among the lowest in ASEAN,” Ricafort said. Next page

BOMB SWEEPERS.

Members of the Manila Police District-Explosive Ordnance Disposal and Civil Disturbance Management conduct simulation exercises in front of the National Museum along Padre Burgos in Manila on Monday as part of the security preparations for the inauguration of President-elect Ferdinand Marcos Jr. on June 30. Norman Cruz


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