Good day. Here are the stories for The Manila Times for Friday, September 27, 2024.
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READ: Marcos unwraps senatorial lineup
PRESIDENT Ferdinand Marcos Jr. on Thursday unveiled the administration’s senatorial lineup for the 2025 midterm elections. The ticket is a combination of reelectionists, current Cabinet members, former senators and personalities from the Partido Federal ng Filipinas, Nationalist People’s Coalition, Lakas-CMD, and Nacionalista Party, a coalition the President has formed. The reelectionists are Pia Cayetano, Lito Lapid, Francis Tolentino and the President’s sister, Imee Marcos. The former senators making a comeback bid are Manny Pacquiao, Tito Sotto, Bong Revilla and Panfilo Lacson. Rounding up the ticket are Interior and Local Government Secretary Benhur Abalos, ACT-CIS Party-list Rep. Erwin Tulfo, Camille Villar, and Makati City Mayor Abby Binay. The slate will be known as the “Alyansa para sa Bagong Pilipinas.” The President’s picks were presented during the coalition’s convention at the Philippine International Convention Center (PICC) in Pasay City. Senator Marcos did not attend the convention.
READ: PCG resumes patrol in disputed shoal
A PHILIPPINE Coast Guard (PCG) ship was now patrolling off Escoda Shoal in the West Philippine Sea, the National Security Council (NSC) has reported. In a radio interview on Thursday, NSC spokesman Assistant Director General Jonathan Malaya rebutted claims that the Philippines has surrendered its territorial control on Escoda after the withdrawal of another PCG ship, the BRP Teresa Magbanua, early this month.
READ: Bill to amend the rice tariffication law ratified
THE Senate approved the bicameral conference committee report on the bill to amend the existing Rice Tariffication Law, Republic Act (RA) 11203. The Senate version of the measure was also ratified by the House of Representatives. During the Senate’s plenary session on Wednesday, Sen. Cynthia Villar highlighted the key points from the bicameral conference committee report on the differing provisions of Senate Bill (SB) 2779 and House Bill (HB) 10381. The bills amend the Agricultural Tariffication Law and extend the Rice Competitiveness Enhancement Fund. Villar moved to approve and ratify the report, which Senate Deputy Majority Leader JV Ejercito seconded. In the proposal, the rice competitiveness enhancement fund, which was supposed to end this year, will be extended for another six years or until 2031, and its fund will be increased to P30 billion per year from the current P10 billion. The fund will come from the tax levied on rice imports. It will be used to purchase machinery and equipment for modern and faster rice planting and harvesting, purchase good rice seeds, and train farmers. The proposal gives the President the power to stop or limit the volume of rice imported when there is an oversupply due to local harvest and importation. The Department of Agriculture (DA) secretary will be authorized to sell local rice to government agencies such as hospitals, prisons, and Kadiwa outlets when there is a declaration of a shortage and an extraordinary price increase. There is also a proposal allowing the DA to import rice if there is no locally produced rice. It can also designate someone to do the importation. The National Food Authority (NFA) is still not included in the list of those who can make the importation. The enrolled copy will be sent to Malacañang for the President’s signature.
READ: Marcos signs anti-agri economic sabotage law
PRESIDENT Ferdinand Marcos Jr. on Thursday signed a new law to combat agricultural smuggling, profiteering and hoarding, making food more affordable and accessible, and providing better income to local farmers. In a ceremony at Malacañan Palace, Marcos signed Republic Act 12022, or the Anti-Agricultural Economic Sabotage Act, before members of both houses of Congress, Cabinet members, and other agriculture stakeholders. Under the new law, smuggling, hoarding, profiteering, cartel and financing of these crimes involving agricultural and fishery products are classified as acts of economic sabotage and will carry a penalty of life imprisonment and a fine of up to five times the value of the products involved in the crime. It is also seen to help make food more accessible and affordable for Filipinos while enhancing income opportunities for local farmers and fisherfolk. The Anti-Agricultural Economic Sabotage Act, a priority measure of the Marcos administration, repeals Republic Act 10845 or the Anti-Agricultural Smuggling Act of 2016, replacing it with more comprehensive mechanisms to ensure stricter enforcement and better implementation. In his message, Marcos thanked legislators for passing the measure and warned smugglers and profiteers that justice would “swiftly and decisively” find them.
BUSINESS: Banks maintain upbeat outlook
Topping business, amid macroeconomic headwinds, the banking sector remains optimistic about this year and the next, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. Fewer banks — 48.7 percent of the respondents, from 52.4 percent in the 2022 poll — expect a nonperforming loan (NPL) ratio of above 5.0 percent. Of the remainder, 29.4 percent projected an NPL ratio below 3.0 percent while 21.9 percent said it would fall between 3.0 percent and 5.0 percent. Universal and commercial banks were particularly optimistic, with 84.6 percent predicting NPL ratios between 1.0 and 5.0 percent. This improved from 77.8 percent in 2022. Thrift banks, rural and cooperative banks, and digital banks remained more cautious, with many anticipating NPL ratios above 5.0 percent — similar to the previous year’s poll. Half of the foreign banks surveyed, meanwhile, projected an NPL ratio of less than 1.0 percent, unchanged from 2022, while 20 percent (from nil previously), expected ratios ranging from 2 to 3 percent.
SPORTS: Cagayan de Oro pride shines in Olympiad
Over to sports, World Chess Olympiad sensation Ruelle Canino has made Cagayan de Oro City proud. Canino, popularly known as “Tawing” in the chess community, is the third female chess player from Cagayan de Oro to make it to the world’s highest chess pinnacle in women’s team competition. The 16-year-old Canino, who was handpicked by Grandmaster Jayson Gonzales to play for the varsity team of Far Eastern University High School after graduating from Kauswagan Elementary School, competed with resounding success in the 45th World Chess Olympiad concluded recently in Budapest, Hungary. Canino played on board four for the Philippine women’s team and saw action in eight games in Budapest with five wins, two draws and one loss. For the record, the mother and daughter tandem of Woman National Masters Cecil and Loreshyl Cuizon were the first to make it to the Olympics of chess some decades ago, but not in the manner Canino did it in the most impressive way. While the older Cecil Gaburno Cuizon qualified to the Olympiad in Russia after her top-three finish in the national elimination, and her daughter Loreshyl followed suit in Spain Olympiad at 20 years old, the pint-size Canino gained her special place in the Philippine women’s team after winning both the national elimination and the grand finals at sweet 16.
READ: Opinion and editorial
Rigoberto Tiglao and Francisco Tatad are today’s front page columnists. Tiglao claims the US missile system in the Philippines is provoking a second Cold War, while Tatad says the government is very disjointed.
Today’s editorial says acidification in oceans are now reaching critical levels. Read the full version in the paper’s opinion section or listen to the Voice of the Times.
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