The Department of Public Works and Highways (DPWH) has issued interim guidelines allowing implementing offices to use market-based prices in project costing to avoid delays amid rising fuel costs. The move comes as global oil prices surge due to geopolitical tensions involving Iran, Israel, and...
Local banking sector showed signs of resilience in February as lending growth by major lenders accelerated, snapping the cooling trend that had sent credit expansion to a near two-year low the previous month. According to the latest data from the Bangko Sentral ng Pilipinas (BSP), bank lending...
The Department of Human Settlements and Urban Development (DHSUD) on Sunday, March 15, welcomed the Department of Agriculture’s (DA) decision to exempt approved socialized housing projects from its land use reclassification moratorium. DHSUD Secretary Jose Ramon Aliling said the move will help...
Senator Sherwin Gatchalian urged the Energy Regulatory Commission (ERC) to ensure that any increase in power rates would be implemented on a staggered basis in light of the tensions happening in the Middle East. Gatchalian said doing so would protect consumers from sudden financial distress...
Senator Francis “Chiz” Escudero said on Thursday, January 8 that electricity sales should be exempt from the 12-percent value-added tax (VAT). Escudero made the remark as he acknowledged Executive Secretary Ralph Recto’s recent statement cautioning against proposals to revert the expanded VAT...
Senator Sherwin Gatchalian has filed a bill that seeks to abolish the collection of bill deposits by distribution utilities (DUs) and electric cooperatives (ECs) in a bid to alleviate the burden of residential power consumers reeling from high electricity rates. In filing Senate Bill No. 1470 or...
The Department of Public Works and Highways (DPWH) announced on Monday, Nov. 3, that it is slashing construction material costs and cracking down on overpricing and corruption in government projects, potentially saving up to ₱60-B in 2026. The move follows President Marcos ' directive for...
President Marcos has ordered several government agencies to significantly cut project costs for public infrastructure projects such as agricultural roads, hospitals, classrooms, and irrigation in an attempt to eradicate corruption. After instructing the Department of Public Works and Highways...
Filipino households can breathe a sigh of relief as Manila Electric Co. (Meralco) announced a reduction in electricity bills, providing a much-needed break from the consecutive price hikes of recent months.
In a briefing on Wednesday, Sept. 10, Joe Zaldarriaga, Meralco Vice President and Head of...
Power distributor Manila Electric Co. (Meralco) announced on Tuesday, Aug. 12, an increase in electricity rates this month, primarily due to higher pass-through charges and a weakened local currency. According to Meralco, the overall rate for a typical household is now ₱13.2703 per kilowatt per...
Senator Rodante Marcoleta has filed a bill seeking to exempt households that consume 135 kilowatt-hours (kWh) or less of electricity each month from paying electric bills. In filing the unnumbered bill, Marcoleta sought to amend the Electric Power Industry Reform Act (EPIRA) to expand and improve...
Senator Rodante Marcoleta has filed a bill seeking to remove the 12 percent value-added tax (VAT) on the sale of electricity at all stages, in an effort to lower power rates and alleviate the financial burden on Filipino households and businesses. “The Philippines remains to be one of the...
