Business NEWS

On signing of Coco Levy Act

The Department of Budget and Management (DBM) said it was able to release only the one-month equivalent of the 2018 pension differential of retired military and uniformed personnel (MUP) despite numerous inquiries from retirees.

Vetoed provisions and stricter spending guidelines in the 2021 national budget will not affect “most” government projects that will be implemented as planned, the Department of Budget and Management (DBM) said Monday.

The Department of Budget and Management (DBM) said the government has released funds for the implementation of several coronavirus response programs under the Bayanihan I and Bayanihan II.

The Department of Budget and Management (DBM) assured that there are sufficient government programs and financial assistance for displaced workers due to the pandemic.

Government debt stock breached the P10 trillion mark in October amid unprecedented borrowings for the coronavirus response, data from the Bureau of the Treasury showed.

The inter-agency Development Budget Coordination Committee (DBCC) expects deeper economic contraction this year due to community quarantine measures amid the COVID-19 crisis.

Senator Ralph Recto yesterday sought for an accounting of the funds being allocated to government financial institutions for lending to the micro, small and medium enterprises (MSMEs).

Senator Ralph Recto yesterday sought for an accounting of the funds being allocated to government financial institutions for lending to the micro, small and medium enterprises (MSMEs).

The Energy Regulatory Commission (ERC) has cautioned power utilities in typhoon-hit areas that they would still need to comply with prescribed service levels that’s why they cannot afford to be moving too slow in the restoration of electricity service for their customers.

The Procurement Service of the Department of Budget and Management (PS-DBM) has called on local companies to participate in the government-wide purchase of medical supplies for the COVID-19 response.

The government had purchased personal protective equipment (PPE) in 2015 and 2016 at prices double the present market cost, the Procurement Service of the Department of Budget and Management (PS-DBM) revealed yesterday.Based on the PS-DBM documents provided by Budget Undersecretary Lloyd Christopher Lao, the government had awarded two supply contracts for an eight-piece PPE at P3,500 per set on September 28, 2015 and another P3,864 per set on June 23, 2016.