In a virtual economic briefing to mark the 75th anniversary of the post-war bilateral relations between the Philippines and the United States, Finance Secretary Carlos Dominguez delivered his message right off the bat: “This pandemic is a test of fiscal stamina and it was fortunate that when it...
Faced by continuing economic doldrums and a raging pandemic, President Duterte certified as urgent the immediate enactment of Senate Bill No. 2094 amending the Public Service Act, Senate Bill No. 1156 amending the Foreign Investments Act of 1991, and Senate Bill No. 1840 amending the Retail Trade...
Lost in the transition from Enhanced Community Quarantine (ECQ) to MECQ in the NCR-Plus bubble were twin moves of the national government to address the effects of the African swine fever (ASF) that has greatly affected the supply of pork, a staple item in the Filipino family’s daily menu....
As businesses are literally squeezed from all fronts, downsizing is one alternative to ensure survival. In any downsizing, the number one casualty is people. During this pandemic, thousands if not millions of workers were laid off and still many are getting retrenched as companies continue to...
After two weeks of the strictest lockdown phase, the National Capital Region Plus bubble has been placed under the less restrictive Modified Enhanced Community Quarantine (MECQ). Also placed under MECQ were Abra province and Santiago City in Isabela. More than a year after the entire Luzon was...
The acceleration of digital transformation is one of the significant beneficial developments triggered by the pandemic. Day-to-day transactions, especially online buying and selling of food, medicines and other essential goods and services are now facilitated by digital technology. Most...
On April 6, 1961 or exactly 60 years ago this week, Congress passed Republic Act 3022 that was signed into law by President Carlos P. Garcia “proclaiming the ninth day of April as Bataan Day and declaring it as a legal holiday.” The continuing observance of quarantine restrictions mutes anew...
In a move that deserves public commendation, the Energy Regulatory Commission (ERC) barred the state-run Power Sector Assets and Liabilities Management Corporation (PSALM) from passing on to consumers new universal charges (UC) for stranded debts (SD) and stranded contract costs (SCC). The focal...
The pervasive, long term harm brought on by the COVID-19 pandemic emerges with greater clarity more than a year after its onset. The inequality between men and women has widened, due to the disproportionate burden borne by women who have lost more jobs and have taken on the burden of childcare...
With the promulgation last week of the implementing rules and regulations of the Financial Institutions Strategic Transfer (FIST) Act (Republic Act No. 11523), the government has delivered a solid jab into the financial muscle of banks as prime movers of business and industrial growth that has...
A ray of hope shone through the thick fog of anxiety over the latest COVID upsurge: the signing into law by President Duterte of Republic Act 11534, the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE). It is regarded as a “historic economic reform” that is “one of the...
This year’s Easter observance is muted and subdued by the sobering realities brought on by COVID-19. An unprecedented surge has transformed the NCR+ bubble area from a hotspot into a cauldron of infection with more than 80 per cent of new cases. The trauma of the initial outbreak a year ago...
