By Luisa Maria Jacinta C. Jocson, Reporter PROJECTS financed by the Maharlika Investment Fund (MIF) will be at reduced risk of administrative and legal challenges, with official development assistance (ODA) also becoming harder to access, Finance Secretary Benjamin E. Diokno said. “Financing through the GAA (General Appropriations Act, or the national budget) is lengthier and […]
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Diokno prefers better tax administration over luxury tax
By Luisa Maria Jacinta C. Jocson, Reporter The Finance chief on Friday said he would rather improve tax administration to generate more revenues than impose luxury taxes. “We will look at the proposals. Right now, I’m happy with the current tax system. It’s not perfect, it can be improved, but we will be concentrated on […]
P2.6M worth of onions sold directly to consumers and institutions — DA
ONION farmers were able to directly sell about P2.589 million worth of their harvests to consumers and institutional buyers through with assistance from government, the Department of Agriculture (DA) said on Thursday. In a statement, the DA said farmer cooperatives and associations were able to market 3,478 kilograms of red onions worth P755,455 and 5,106.38 […]
BoC intercepts P9.5-M smuggled onions in Zamboanga
CUSTOMS and law enforcement authorities seized P9.49 million worth of suspected smuggled red onions inside boats that arrived in Zamboanga City on two separate operations. In a statement on Thursday, the Bureau of Customs (BoC) said the onions have no Sanitary and Phytosanitary Import Clearance from the Department of Agriculture’s Bureau of Plant Industry. BoC […]
Bureau of Customs seizures down 14% in 2022
THE BUREAU of Customs (BoC) confiscated smuggled goods worth P24.28 billion in 2022, down 14.6% year on year. Last year’s total amount is lower than the P28.43 billion worth of goods seized in 2021. In a statement on Wednesday, the agency reported that it had a total of 709 seizures last year. These included illegal […]
DTI seizes almost P.5-M worth of uncertified consumer items in QC
THE DEPARTMENT of Trade and Industry (DTI) seized almost P500,000 worth of uncertified consumer products during a recent enforcement operations in Quezon City. The DTI, through its Fair Trade Enforcement Bureau, inspected 19 retail firms in Balintawak on Jan. 12, wherein 2,152 units of assorted consumer goods worth P482,121.15 were confiscated. Among the confiscated products […]
Man nabbed for P7.1 million shabu in Liloan town
A 21-YEAR-OLD man was arrested in a drug bust in Barangay Tayud, Liloan town, northern Cebu for having in his possession P7.1 million worth of illegal drugs. Operatives of Provincial Intelligence Unit of the Cebu Police Provincial Office (CPPO) headed by Lieutenant Colonel Lester Eteroza conducted the operation that led to the arrest of Rafael […]
SBCorp. approves P8.20 billion worth of loans to 50,003 applicants
THE SMALL Business Corp. (SBCorp.), has approved P8.20 billion worth of loans for micro, small, and medium enterprises (MSMEs) affected by the coronavirus disease 2019 (COVID-19) pandemic. “(As of December), P8.20 billion worth of loans have been approved to 50,003 MSMEs under the COVID-19 Assistance to Restart Enterprises (CARES) Program and for SBCorp.’s other lending programs targeted […]
Relief, restoration work underway after 2 typhoons batter northern Philippines
TYPHOON Nesat, which the Philippines calls Neneng, affected almost 28,000 people in some areas in the country’s north, according to Malacañang. Citing initial reports, the Office of the Press Secretary said 27,914 individuals have been affected in the regions of Cagayan Valley, Ilocos, and Cordillera. More than 1,190 families were pre-emptively evacuated, while 285 families […]
BoC seizes P228M worth of smuggled sugar in Manila port
THE BUREAU of Customs (BoC) on Monday said it confiscated 76 containers of refined sugar worth P228 million from Thailand. According to the BoC, the consignee failed to present an import clearance from the Sugar Regulatory Administration). The shipment arrived at the Manila International Container Port on September 24 and contained “misdeclared and undeclared” items. […]
Typhoon Karding agricultural damage assessment continues to rise, now at P3.12B
DAMAGE to the agricultural sector due to Super Typhoon Karding, with international name Noru, has risen to P3.12 billion as of Monday, according to the latest bulletin by the Department of Agriculture (DA). The volume of production loss was estimated at 158,117 metric tons (MT) with 170,762 hectares of farm lands and 108,594 farmers and […]
Farm damage from typhoon estimated at P2.02 billion
AGRICULTURAL damage caused by Typhoon Karding (international name: Noru) has hit P2.02 billion, the Department of Agriculture said. The storm damaged an estimated 150,693 hectares of farmland and affected over 91,944 farmers and fisherfolk, resulting in lost production of 117,663 metric tons. Damage and losses were reported in the Cordillera Administrative Region, Ilocos, the Cagayan […]
Agricultural damage from Super Typhoon Karding hits P1.29B with main rice growers affected
By Luisa Maria Jacinta C. Jocson, Reporter THE RUNNING tally on agricultural damage from Super Typhoon Karding has climbed to P1.29 billion, according to the Department of Agriculture (DA), with major rice producing provinces among those affected by flooding. Damage and losses were initially reported in the regions of Cordillera, Ilocos, Cagayan Valley, Central Luzon, […]
DBM: ‘Unprogrammed’ DoTr budget supported by loans
THE Department of Budget and Management (DBM) said it can adequately account for all items in the National Expenditure Program (NEP), rejecting claims by a legislator that vague proposals in the NEP suggest that the government is planning to spend “unprogrammed” funds that will swell the budget by as much as P588.1 billion. “The DBM […]
Agents seize P220 million worth of sugar in three separate raids
CUSTOMS agents seized 44,000 sacks of hoarded sugar worth P220 million in separate raids north of Manila, the capital on Wednesday and Thursday as part of a crackdown amid rising sugar prices and tight supply. The agents and police raided two warehouses in Bulacan province and another in Pampanga on orders of President Ferdinand R. […]
Rice seed program targets farmers tilling 1.8M hectares
THE Department of Agriculture (DA) said it hopes to distribute inbred and hybrid seed to farmers tilling 1.8 million hectares (ha) across 15 regions, to provide relief from high input costs. The DA’s National Rice Program (NRP) will handle the operation, which targets adequate distribution in time for the wet and dry cropping seasons. More […]
Police confiscates over P110M shabu in Central Visayas
MORE than P100 million worth of illegal drugs were confiscated during the one-day Simultaneous Anti-Criminality and Law Enforcement Operation (Sacleo) conducted by the police across Central Visayas over the weekend.Data from the Police Regional Office-Central Visayas (PRO 7) showed that Sacleo was conducted by 165 different police stations from the provinces of Cebu, Negros Oriental, […]
Daylong police ops net P15M shabu
A TOTAL of P15 million worth of illegal drugs has been seized by the Police Regional Office (PRO) in Central Visayas.The Cebu City Police Office (CCPO) seized over P10 million worth of illegal drugs, mostly shabu, outperforming other units under the PRO 7.The anti-narcotics operations started at dawn Saturday, June 11, 2022 and ended at […]
CIDG 7 arrests 12 persons for selling giant clam shells worth P36M
AN ESTIMATED P36 million worth of giant clam shells has been seized by the Criminal Investigation and Detection Group in Central Visayas (CIDG 7) in Barangay Tapilon, Daanbantayan town, in Cebu province.Caught were 12 individuals involved in the unlawful sale of clams, including Liloan-based businesswoman Carla Czarina Cañazares Camacho, 41. The CIDG operatives confiscated 133 […]
MREIT eyes fresh P15B property infusion
MREIT Inc., the Reit company of township developer Megaworld, reiterates its commitment to deliver on its P20 billion acquisition plan for 2022. In line with this, the company is already in discussion with sponsor Megaworld for the infusion of an additional P15 billion worth of commercial assets. This follows the announcement last month of MREIT’s […]