PBBM approves import of 150k tons of sugar

By Vince Lopez and Othel V. Campos

AHEAD of an expected shortage by August this year, the government has approved the importation of sugar to stabilize its supply -- and is considering a similar move for onions to bring down prices.

President Ferdinand R. Marcos Jr. approved on Monday the additional importation of up to 150,000 metric tons (MT) of sugar to augment the country’s supply and stabilize the price.

“We agreed to additional importation of sugar to stabilize the prices.

[The] maximum amount will be 150,000 MT but [it will] probably less,” President Marcos said after meeting with Sugar Regulatory Administration (SRA) acting Administrator Pablo Luis Azcona and board member Ma. Mitzi Mangwang, representing sugar millers.

“The exact amount will be determined once we have determined the exact amount of supply, which will come at the end of this month,” Marcos said. He added that the government is opening

By Alena Mae S. Flores, Vince Lopez, Maricel V. Cruz and Macon Ramos-Araneta

PRESIDENT Ferdinand R. Marcos Jr. on Monday renewed the production contract for the Malampaya gas field in northwest Palawan, extending it for 15 years until Feb. 22, 2039.

“Today we mark a very significant milestone as we pursue another huge endeavor that will promise monumental rewards for our country and our people,” Marcos said at the signing ceremony for the contract renewal at the Palace.

The President said that the agreement was consistent with the Constitution and the state policy of hastening the discovery and production of the country’s indigenous petroleum.

The Department of Energy (DoE) said the extension of Service Contract 38, which was to expire on Feb. 22, 2024, would allow for the continued