A new private sector-led global organization is exploring a possible country partnership with the Philippines to assist in hastening its transition to green and renewable energy (RE) sources, the Department of Finance (DOF) said. In a statement, the DOF said on Friday, Nov. 12, that Finance...
Senate Minority Leader Franklin Drilon on Friday urged newly-appointed Philippine National Police (PNP) chief Lt. Gen. Dionardo Carlos to review the PNP’s use of its anti-insurgency funds. Drilon challenged the incoming PNP leadership as he finds it suspicious that the PNP conducted about 13...
The Philippines has formally committed to reverse forest loss and land degradation by 2030, the Department of Finance (DOF) announced on Thursday, Nov. 11. In a statement, the DOF said the Department of Foreign Affairs (DFA) recently transmitted President Duterte’s letter to the government of the...
The House Committee on Ways and Means approved Thursday, Nov. 11 the proposal to reduce or suspend excise taxes on petroleum products but not on premium gasoline with highest octane mix. Gasoline up The House panel chaired by Albay 2nd District Rep. Joey Sarte Salceda approved a substitute bill...
The International Finance Corp. (IFC) is investing in a social bond to be issued by Ayala Corp.’s foreign subsidiary that will fund the development of an integrated health ecosystem in the country. The IFC, a member of the World Bank Group, said on Thursday, Nov. 11, that it invests $100 million...
The Philippines has called for an end to the debate on climate change, and for nations to start implementing concrete actions to fulfill their respective commitments and “obligations to humanity” to save the planet from an environmental catastrophe. “The Philippines is determined to be a...
Senate Minority Leader Franklin Drilon on Wednesday, Nov. 10 proposed incentivizing the opening of face-to-face classes by giving state universities and colleges (SUCs) and public schools access to the P3.5-billion fund allocated for the retrofitting of education institutions under the proposed...
The Senate Finance Committee, chaired by Senator Sonny Angara, has endorsed for plenary approval Committee Report No. 332 which contains the P5.024-trillion national budget for 2022. This marks the start of lengthy plenary deliberations on the budgets of various government agencies and their...
The next Department of Finance (DOF) head needs to keep a close eye on four pressing issues, such as public debt, inflation, exacerbated inequality and climate change, President Duterte’s chief economic manager said. Eight months before the term of the Duterte administration ends, Finance...
The Senate Committee on Finance has introduced a special provision under the proposed General Appropriations Act of 2022 that seeks to revert to the National Treasury funds lodged with the Department of Budget and Management’s Procurement Service (DBM-PS) if it remains unspent by the end of 2023....
The Philippines urged governments and multilateral development banks (MDBs) work closely in addressing the transitional adjustments that might have to be undertaken to ensure the seamless implementation of climate-related projects on the ground. Finance Undersecretary Mark Dennis Joven said that...
The Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives for the builder of the Makati City Subway, the Department of Finance (DOF) announced. In a statement released by the DOF on Monday, Nov. 8, it said that the FIRB took into consideration the projected increase in...
