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Economic Team – Foreign investors interested in MIF

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Dr. Paciente Cordero
Dr. Paciente Cordero

The PBBM economic team behind in crafting the Maharlika Investment Fund (MIF), are elated upon knowing that foreign investors have expressed interest in the MIF even before the Law creating is still awaiting the President’s signature.

The MIF, considered as a vehicle for economic growth for the country, has the following as its members so-called Economic Team: Secretary Benjamin Diokno (DOF), Secretary Amenah Pangandaman (DBM), Governor Felipe Medalla (BSP), and Secretary Arsenio Balicasan (NEDA).

According to the economic team, “the MIF is not only beneficial, but also necessary at this time.” However, the MIF bill certified as an urgent priority proposed legislation has been a target of criticism by certain sectors of the Philippine society. The university of the Philippines School of Economics (UPSE) faculty members released a discussion paper stating that “the bill violates fundamental principles of economics and finance and poses serious risks to the economy and the public sector.” Some netizens have expressed concerns over the MIF after the bad experience and fiasco that happened in Malaysia.

MY COMMENT:

Frankly, I am not conversant about the MIF not having read the bill in its full context. My gut feeling is that the personalities behind the bill had nipped in the bud sections that would have compromised the pension funds deposited in the SSS, GSIS, PVB, the OFW from watered-down bill awaiting for Malacanang action..

Ooo000ooo

NEXT TOPIC : “SMC pledges to help the Philippines attain food, energy security”
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A global band for peace and prosperity: the UN and Armed Forces of the Philippines unyielding partnership

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As the United Nations commemorates its 78th anniversary, it’s an opportune moment to celebrate the enduring partnership between the UN and the Philippines Armed Forces (AFP) in their shared mission of fostering peace and development.

The UN, founded in the aftermath of World War II, stands as a symbol of international unity, vowing to prevent global conflicts and promote cooperation between nations. The Philippines exemplifies this cooperation through its efforts in working with the UN to promote peace, security, and development.

One of the prime examples of this partnership is the long-standing commitment to peacekeeping missions. Through various programs and initiatives, the UN and the AFP have worked together to address underlying issues that contribute to conflict and instability. These initiatives range from disarmament and demobilization campaigns to community development projects aimed at fostering long-term stability and peace.

Another significant instance of cooperation is the joint humanitarian efforts undertaken by the UN and the AFP. One such initiative is the disaster response operations carried out in the wake of natural calamities. The Philippines is vulnerable to a myriad of natural disasters, including typhoons, earthquakes, and volcanic eruptions. In such times of crisis, the UN and the AFP have come together to provide emergency relief, rescue, and rehabilitation assistance. Their coordinated efforts have been crucial in mitigating the suffering of affected communities and expediting the recovery process.

While celebrating the UN’s 78th anniversary, it is imperative to acknowledge the pivotal role that the Philippines and its Armed Forces have played in advancing the organization’s goals. The nation’s commitment to peacekeeping missions and its unwavering support for humanitarian initiatives have undoubtedly made a significant impact on the global stage.

As the world grapples with contemporary challenges, ranging from climate change to conflicts, the United Nations remains a vital force for positive change. Its partnership with the Philippine government and the AFP is a testament to the enduring nature of collaboration, demonstrating how a nation can make a profound impact on the world stage through dedicated support and participation in the UN’s mission.

In the broader context of global harmony and the UN’s enduring partnership with the Armed Forces of the Philippines (AFP), it is imperative to highlight the significant role played by the Philippine Air Force (PAF) in Civil-Military Operations.(PR)

Comelec-8 ready for BSK polls

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READY FOR THE POLLS. The Commission on Elections in the region is now ready for the October 30 barangay and Sangguniang Kabataan elections, says its director, lawyer Felicisimo Embalsado who vows to have peaceful and secure elections. There are 127,981 candidates in the region who are running for the barangay and youth balloting.(Police Regional Office 8)

Amid report of vote buying, selling incidents

READY FOR THE POLLS. The Commission on Elections in the region is now ready for the October 30 barangay and Sangguniang Kabataan elections, says its director, lawyer Felicisimo Embalsado who vows to have peaceful and secure elections. There are 127,981 candidates in the region who are running for the barangay and youth balloting.(Police Regional Office 8)

TACLOBAN CITY-The Commission on Elections (Comelec) in Eastern Visayas said that it is ready for next Monday’s barangay and Sangguniang Kabataan (SK) elections amid reports of vote buying and vote selling incidents.

Lawyer Felicisimo Embalsado, the officer-in-charge of the Comelec-8, said that all election paraphernalia like official ballots and ballot boxes have already been distributed to all provincial, municipal, and city treasurers’ offices for distribution to all the polling precincts across the region a day before or on election day.

“We are prepared for the barangay and Sangguniang Kabataan elections. All those who will be serving as members of the electoral board are also ready with all the election paraphernalias have been delivered to all provincial, municipal, and city treasurer’s offices,” he said during the media conference ‘Kapihan ha PIA” held on Thursday (Oct. 6).

It was learned from Embalsado that over 35,000 teachers from the region will serve for the October 30 village elections.

For the Monday’s elections, 8,915 individuals are running for barangay chairman and 64,246 for councilors while 8,456 are in the running for the SK chairman and 46,364 for SK councilors.

The region has 4,365 barangays and 3,808 polling precincts with more than 4.54 million registered voters to cast votes- 3.26 million for barangay posts and 1.27 million for SK positions.

Meantime, Embalsado issued a warning to both candidates and voters who will be engaging in vote buying and selling.

The warning of the polls official came amid reports of vote buying and vote selling in the different parts of the region, ahead of the October 30 balloting.

In the city, for example, the amount ranges from P50 for those running for village councilor and P100 for those seeking the village’s top post.

A council candidate, who asked not to be identified, said that much as he would like not to resort to vote buying he has no choice but to join the ‘kalakaran’ or system.

“I have to secure a loan just to afford to court the votes of my co-villagers for me to win. Anyway, almost all candidates are also doing the same thing. Also, the voters are also waiting for it,” he said.

The councilor wannabe, however, declined to say the amount he has loaned.

The Comelec has launched its Kontra Bigay’ campaign to stop the vote buying and vote selling scheme for the barangay and SK polls, even enlisting the help of the Bangko Sentral ng Pilipinas to help them monitor the transfer of money through online or electronic wallets.

Embalsado, however, admitted that they will be finding some difficulties in prosecuting the offenders are it requires not only the candidate themselves but the voters are well.

Vote buying and selling is an election offense where candidates, in particular, are to be disqualified and with a jail time of not more than six years.

JOEY A. GABIETA

Tacloban among beneficiaries of US gov’t development- related funded program

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TACLOBAN CITY– The United States government, in collaboration with the Philippine government, has initiated a groundbreaking partnership aimed at fostering the economic development of nine key cities in the country.

Among these areas is Tacloban City.

This undertaking, known as the Urban Connect Project, is set to receive a substantial investment of P625 million ($11 million) over a span of five years.

Aside from Tacloban, other identified areas include the cities of Batangas, Legazpi, Puerto Princesa, Iloilo, Tagbilaran, Cagayan de Oro, General Santos, and Zamboanga.

The program is designed to empower these urban centers and enhance their economic potential by offering capacity-building initiatives and technical assistance.

Under this initiative, the United States Agency for International Development (USAID) will work closely with the local governments of these partner cities to stimulate enterprise growth, streamline the business permit system, bolster public financial management, facilitate the transition to e-governance, and promote cooperation among neighboring cities.

The project also intends to enhance health and education services, strengthen climate resilience and disaster readiness, and advocate for gender equality and social inclusion in these partner cities.

Ryan Washburn, the Mission Director of USAID Philippines, expressed the US government’s commitment to ensuring that these cities not only become engines of economic growth but also exemplars of inclusivity and innovation.

“The Urban Connect Project fosters sustainability and resilience and ensures that no one is left behind as these cities progress,” he affirmed.

The official launch of the Urban Connect Project is set on October 31, coinciding with World Cities Day and the observance of the Philippines’ Local Government Month.
(ROEL T. AMAZONA)

Red tide up in Samar bays

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TACLOBAN CITY– The Bureau of Fisheries and Aquatic Resources (BFAR) in Eastern Visayas reported that several bays in Samar and Eastern Samar provinces have been detected to have the red tide toxins.

However, despite of the presence of the toxin, BFAR has not raised any shellfish ban.
Based on their advisory issued on Tuesday (Oct.24), these bays have been found to be positive of the Pyrodinium bahamense, the toxic microorganism that causes the paralytic shellfish poisoning, based on the water samples.

These are Maqueda Bay which covers the towns of Jiabong, Motiong, Paranas, San Sebastian, Calbiga, Pinabacdao, and Hinabangan, all in Samar; Cambatutay Bay which covers the town of Tarangan, also in Samar; San Pedro Bay, particularly in Basey, Samar; the coastal waters of Calbayog City in Samar; Irong-Irong Bay in Catbalogan City, Samar; and Matarinao Bay involving the towns of General MacArthur, Quinapondan, Hernani, and Salcedo towns, all in Eastern Samar.

The BFAR advises the public to refrain from gathering, selling, and eating all types of shellfish and Acetes sp., locally known as ‘alamang’ or ‘hipon’ from these areas.
However, fish, squids, shrimps, and crabs are safe for human consumption provided they are fresh and washed thoroughly, and their internal organs such as gills and intestines are removed before cooking.

Last October 15, a family consisting of seven individuals from Pagsanghan town, Samar fell ill after eating tahong.

Two members of the family, a nine-year-old girl and her six-year-old sibling, later died while being treated in a medical facility.

It was learned that most of the tahong being sold in Pagsanghan is sourced from San Sebastian where there is a red tide alert.(JOEY A. GABIETA)

Php 19.69 M Farm-to-Market Road in Catarman Northern Samar, completed

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Catarman, Northern Samar – The Department of Public Works and Highways, Northern Samar First District Engineering Office (DEO), recently completed a P19.69-million Farm-to-Market Road (Phase II) in Brgy. Libjo, Catarman, Northern Samar.

The project involves construction of a road spanning the length of 338 meters with reinforced concrete-lined canals with length of 359 linear meters on both sides, and Grouted Riprap.

District Engineer Mario D. Villena stated that the newly completed road project will significantly enhance agricultural productivity in traversed areas.

The transportation of agricultural products from farms to the market will now be more convenient and efficient.

Merlita Pangandoyon, a resident of Brgy. Libjo, revealed that there has been a significant change since the road was built.

“It’s good that the road is finally finished because it used to be difficult for people to pass through here since this area was purely rural. Before, people had to carry their groceries downhill, but now vehicles can go straight through. We are very thankful that the road reached this area because it’s now easier for people to pass through, and students no longer have a hard time walking. Scooters can now traverse the road as well. So, we are very grateful. To those who constructed the road here, thank you very much,” she said.

FMRs are funded under the convergence program of the DPWH and the Department of Agriculture. (ANALIZA A. PABIA, PIO Alternate/PR)

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