PIA Dispatch - Saturday, April 16, 2011

Government confident stockpiling of fuel will secure PH in case of emergency

Malacanang believes that the planned stockpiling of fuel would be enough to secure the country’s energy needs until the situation in the Middle East and North Africa subsides.

“So far that will be enough. I’m not sure about the figure but from what I know the supply would be enough for us,” Deputy presidential spokesperson Abigal Valte said in an interview over the Radyo ng Bayan on Saturday.

“President Aquino mentioned that it’s not stockpiling for ordinary cases and that it should be sufficient in case an emergency happens,” she added.

President Benigno Aquino III announced Friday that the government will start stockpiling fuel to build up its oil reserve for use in times of extraordinary need noting that the continuing unrest in the Middle East and North Africa exposes the country’s vulnerability to the volatile world oil market.

At the same time, President Aquino announced that the first shipment for the state-run Philippine National Oil Co. (PNOC), which is around 50 million liters of diesel, is due to arrive in May.

The 50 million liters of diesel are to be stored in two tank farms, to be leased by Philippine National Oil Co.-Exploration Corp. (PNOC-EC), according to the President.

With regards to the planned subsidy to be given to farmers and fishermen affected by the rising fuel prices, Valte said the government is still studying the procedure to be taken, admitting that it has encountered some difficulty.

In one interview in General Santos City this week, the President admitted granting the support to fishermen and farmers has proven to become more challenging due to the absence of records and franchises.

“So ang balakid sa atin sa ngayon ay kung paano ba natin ma-identify kung sino talaga iyong karapat-dapat matulungan, pero hindi ibig sabihin na titigil na tayo sa paghanap ng paraan,” the President said noting that his administration is already studying the issue to resolve it. (PCOO)


PH shares China’s position in resolving territorial dispute over Spratly Islands

Malacanang shared China’s call to other Asian countries to resolve the territorial dispute over the Spratly Islands in a peaceful manner

On Friday, Chinese President Hu Jintao called on Asian nations to forge better cooperation regarding security matters involving territorial claims over the Spratly Islands to avoid disagreements.

Hu asked Asian countries to reject the Cold War mentality, a perception that China is a threat, especially to the United States and the West.

In an interview over state-run Radyo ng Bayan on Saturday, Deputy presidential spokesperson Abigail Valte said government agreed with China’s call and noted that settling the Spratly issue must be based on history.

When it comes to the alleged meddling of the United States in the Spratly issues, Valte said the Palace had previously issued a pronouncement that was consistent with the call for a peaceful resolution.

“All of the countries involved in the dispute, at least for one reason or another are consistent --they want the issue to be resolved peacefully,” she added.

Aside from China, Taiwan, Vietnam, Malaysia, Brunei and the Philippines have been claiming ownership over the Spratly Islands, a cluster of more than 100 islets, reefs and atolls scattered in the South China Sea that is believed to be rich in gas and oil deposits. (PCOO)


Aquino appoints new chair of Securities and Exchange Commission

President Benigno Aquino III has appointed lawyer Teresita Herbosa as the new head of the Securities and Exchange Commission (SEC). This was confirmed by Deputy presidential spokesperson Abigail Valte in a radio interview over Radyo ng Bayan on Saturday.

“Yes that is confirmed. We were supposed to announce it today, that Teresita Herbosa is the new chairman of the Securities and Exchange Commission (SEC) under the Department of Trade and Industry,” Valte said in a Radyo ng Bayan interview when ask to confirm newspaper reports about the new appointment.

Valte also announced the appointment of former Commission on Election Chairman Jose Melo as member of the board of directors of the Clark Development Corp.

Herbosa will replace SEC chairman Fe Barin, who became the SEC chairperson on Sept. 1, 2004.

Herbosa, an expert in dispute resolution, is a co-managing partner of the Angara Abello Concepcion Regala & Cruz Law Office (ACCRA). She was head of the law firm’s Litigation Department from 1993 to 2003.

Herbosa graduated from the University of the Philippines with a Bachelor of Arts degree, cum laude, and a Bachelor of Laws degree, cum laude.

In 1980, she obtained her Master of Comparative Law degree from the University of Michigan Law School in Ann Arbor, Michigan.

The incoming SEC chairperson is a professional lecturer on remedial law at the College of Law of the University of the Philippines.

The SEC chairman and commissioners, who are presidential appointees, have a fixed seven-year tenure. (PCOO)