Aquino assures banking and finance sectors he
will support fight against cyber crimes
President Benigno S. Aquino III made an
assurance to the banking and finance sectors that his administration will
support the fight against cyber crimes that affect businesses.
“As you know we are in the midst of judicial
reform. We actually have a lot of issues with the judicial system and now, we
are just undertaking a major step,” the President said during the Wallace
Business Forum Quarterly Round Table in Makati City on Wednesday.
“You’ll come across a lot of data that does
indicate that we are being utilized by international groups in cyber crimes. So
this is an idea worth mentioning to the incoming Chief Justice who will sit in
the judiciary,” the President said, adding that he is still awaiting the list
from the Judicial and Bar Council (JBC) so he can pick from the list the new
Chief Justice of the Supreme Court.
The banking and finance sectors raised several
issues to the President that the government must address to enhance the
business climate and encourage foreign investors to come to the Philippines.
Citi Country Officer for the Philippines Sanjiv
Vohra mentioned three areas in which the government can act to help or improve
the country’s banking and finance sectors. These include fast tracking the
mortgage legislation which allows investors to partake in more important
sectors, Vohra said.
The second would be revising laws and guidelines
to expand the qualified investor base which will allow the banking and finance
sectors to bring back the wealth management business in the Philippines.
Vohra also called on the government to include
the gaming industry for Anti-Money Laundering Act (AMLA) coverage. The gaming
industry is an important business in the Philippines to effectively promote
tourism, he said, adding AMLA must be extended to cover this industry.
Vohra commended the Aquino administration for
supporting amendment to the provisions of the AMLA. With regards to special
courts, he noted the banking and finance sectors support the creation of these
courts to fight the proliferation of cyber crimes.
“What we would like to do is for special courts
to be created so that the whole process can be expedited. I believe the UN has
proposed the creation of an international tribunal on cyber crimes,” he said.
(as/1:18pm)
Aquino declares August 2 as special non-working
day in Butuan City
President Benigno S. Aquino III has declared
August 2, which falls on a Thursday, as a special (non-working) day in Butuan
City in celebration of its “62nd Adlaw Hong Butuan.”
The Chief Executive issued the declaration
through Proclamation No. 383 signed by Executive Secretary Paquito N. Ochoa Jr.
on May 14 to give the people of Butuan City the full opportunity to celebrate
and participate in the occasion with appropriate ceremonies.
Adlaw Hong Butuan is the charter day celebration
of Butuan. On August 2, 1950, Butuan became a city by virtue of Republic Act
No. 523. (js)
Aquino says local government units must be
empowered to become more business friendly
President Benigno S Aquino III said his
administration is working to change the mindset of the local government units
and empower them so that they become more business friendly.
“We are working on really upgrading also the
local government units. We want a change in mentality from ‘what gets me
elected’ to ‘what is good for the long-term benefits of the community’. And
some of it might be counter intuitive to those who keep on remembering that
they have to run again every three years,” the President said during the
Wallace Business Forum Quarterly Roundtable in Makati City on Wednesday.
The President acknowledged that there are LGUs
that are extremely unfriendly to investors, forcing companies to relocate to
other areas in the Philippines.
But there are improvements, according to the
President. A recent SWS survey showed a 24-percent increase in positive
perception in the issuance of local permits by city and municipal governments,
he said.
The Chief Executive said that there is
73-percent satisfaction rating in the performance of the LGUs in processing
business documents, such as permits and licenses.
“So it is a work in progress. There are various
programs that encourage positive behavior from the LGUs, getting the good
housekeeping,” he said.
President Aquino likewise said that there has to
be a corresponding drive once more power is given to LGUs. And there must be
greater execution and exercise of this power towards the common good against
the parochial interest of politicians.
LGUs must be empowered and encouraged for the
responsible exercise of its power, the President said even as he added the
country’s business leaders to give his administration more time to carry out
more reforms.
“I think, you would see more progress on that
aspect. We would prefer to use the carrot rather than the stick but we are
prepared to use the stick for those that have been caught up in totally
outmoded thinking. But we will try to achieve all of these through consensus,”
the President said.
The President expressed his gratitude to the
forum organizers for giving his administration an opportunity to express its
views on issues concerning the business sector and at the same time hearing the
sentiments of the sector. (as/1:47pm)
Aquino encourages competition among corporations
in the exercise of social responsibility
President Benigno S. Aquino III urged
corporations to outdo one another in becoming more socially responsible aside
from expanding their “bottom line” further so that a balance of earning profit
and giving back to the community is achieved.
In his speech keynoting the League of Corporate
Foundations (LCF) Corporation Social Responsibility (CSR) Expo 2012 held at the
SMX Convention Hall at the Mall of Asia in Pasay City on Thursday, the
President said corporations should strive to attain a situation where
“everybody wins.”
“Many of us see, in traditional and social
media, how your companies compete for attention and patronage by outspending
each other in advertising and marketing. It would be nice to see a spending war
in the area of Corporate Social Responsibility as well,” the President said.
“A competition, in this sense, would unleash the
true power of the market—the power to lift people up from the mire of poverty,
the power to advance your companies towards your corporate goals, and the power
to move this country to its rightful place in the sun,” he added.
He cited as an example a “convergence” program
the government and food giant Nestle were currently undergoing which aims to
relocate Filipinos living in dangerous areas like landslide and flood prone
locales to safer ground and provide them livelihood so that choosing to return
to their old homes would not be an option anymore.
“We wanted to move these people to a safer
place. But one significant problem we encountered is that when they are
relocated to a province, they have a difficult time finding new livelihoods.
They then either return to their old dangerous homes, or they remain in the
province, and some of them resort to chopping down trees and turning them into
charcoal simply so they can survive. We had to find a way to make sure that
these people could find decent, sustainable sources of income in these
provinces, so that they would no longer have to move back to the danger areas,
or harm the environment just to get by,” the President said.
What they came up with is to include each family
under the government’s Conditional Cash Transfer program that will give them
stipends for their daily expenses in exchange for protecting the trees in their
areas.
Nestle then provides these people with specially
researched, developed, and cultivated coffee seedlings, so that they can plant
and grow coffee and cacao under the shade of the larger trees they protect.
“Nestlé also guides them, and equips them with
the technological knowhow to maximize the yield of their crops. And eventually,
Nestlé would be the ready buyers of the coffee that is produced. They buy the
products at world market prices, and at a quality that meets international
standards,” the President said.
“In essence, through this program, we are giving
these people livelihoods. We are giving them reason never to go back to the
areas where their lives were imperiled. We also have them helping us protect
the trees that protect us, instead of burning them down for short-term gain. At
the same time, Nestlé gets a great source of coffee, and empowers new consumers
to buy more of their products. So, as the trees flourish, so do the lives of
our people, so do the local economies, and so does Nestlé’s performance as a
corporation. Again, everybody wins,” he added.
He urged corporations to “come up with something
like our convergence program (that) can help not only your bottom line, but
more importantly society’s bottom line,” adding that the government was always
ready “to work with corporations that want to go the extra mile to reach out
and empower the people in their respective communities.”
“We have always been about inclusive growth, and
have always believed that a country must move forward together,” the President
said.
“I encourage all of you today to talk more and
more with one another, and, more importantly, to listen. Today, we see so many
creative ways that the biggest and most successful companies in the Philippines
are helping their community and their country. I am hopeful that this will
serve as an inspiration to even more established companies and budding
entrepreneurs to expand or start new CSR programs,” he added.
The LCF, a steadfast promoter of the practice of
corporate social responsibility for nation building, is a network of over 70
operating and grant-making corporate foundations and corporations.
Some of the big member companies of the group
are the San Miguel Corp., Sagittarius Mines Inc., Toyota Motor Philippines
Corp., Metrobank Group, Ayala Foundation, Lopez Group Foundation, Aboitiz Foundation,
Energy Development Corp., and the PLDT-Smart Foundation. (rck)
Aquino says government exerting all efforts to
achieve justice for victims of Maguindanao massacre
The Aquino administration has been exerting all
efforts to achieve justice for the victims of the 2009 Maguindanao massacre,
President Benigno S. Aquino III said on Thursday.
President Aquino issued the statement following
reports that Myrna Reblando, widow of slain journalist Alejandro
"Bong" Reblando, left the Philippines seeking asylum to another
country. Reblando, a reporter of the Manila Bulletin, was among the 32
journalists killed in a massacre in Maguindanao province in November 2009.
"Well, malaki naman talaga ang dinaanan ni
Mrs. Reblando. At talagang meron namang frustration sa bagal ng ating sistema
ng hudikatura. Mabigat talaga ‘yung kaso sa dami ng akusado; sa daming
prosesong kailangang daanin," the President said during an ambush interview
on Thursday at the World Trade Center.
Ninenty-six suspects in the 2009 Maguindanao
massacre are now in police custody, while 100 others remain at large.
"May mga anak siya, may pamilya siyang
kailangan na buhayin at meron naman sigurong normalcy na gustong mangyari sa
buhay niya. At hindi perpekto ‘yung ginagawa natin pero palagay ko naman walang
makasasabing nagkukulang tayo sa paghahabol ng katarungan," the President
stressed.
The President also said that the relatives of
the massacre victims have the freedom to choose whether to accept the
government's offer of security.
"Pwede nating pakiusapan... Pero sa dulo
nito, may malaya silang desisyon at may karapatan silang mag-desisyon nang
malaya sa kung anong palagay nilang angkop sa kanilang sitwasyon," he
said.
The Aquino administration has earlier renewed
its offer of security to the witnesses of the Maguindanao massacre who were not
under the Witness Protection Program. (co)
President Aquino welcomes credit rating upgrade
granted by Standard & Poors
President Benigno S. Aquino III welcomed the
latest upgrade granted by the international credit rating agency, Standard
& Poors (S&P), on the Philippines which has improved to BB+ thereby
inching another step closer toward getting an investment grade status.
Speaking to reporters in a chance interview at
the World Trade Center on Thursday, President Aquino said this development
shows just how well-managed are the fiscal policies of the Philippines that it
would allow the government to have more breathing room in paying the country’s
debt.
“Credit rating agency sila at sinasabi na
well-managed tayo, maayos ‘yung ating fiscal policies, bumababa ang ating debt
payment dahil nagkakaroon tayo ng access to loans and that the lenders will
think that we are less of a risk,” the Chief Executive noted.
President Aquino added that even if the
Philippines has not yet been given an investment grade status by the S&P,
some international banks and other financial institutions are already treating
the country as having such following these credit rating upgrades.
“Parang pagkatanda ko sa report ni Finance
Secretary Cesar Purisima, four notches above our rating na...ibig sabihin,
tinatrato na tayo ng mga pinagkaka-utangan nating mga institusyon, bangko,
etcetera na parang investment grade na tayo... bagama't itong mga nagre-rate ay
hindi pa tayo nilagay sa investment grade,” he said.
“Sa atin pong pananaw, ‘yung mga bangko ang mas
nagiging realistic. Parang mas sigurado silang eto ang karapat-dapat na ipataw
na interes sa atin dahil mas mababa na ang risk sa pagpapautang sa atin,” he
added.
Meanwhile, Budget and Management Secretary Florencio
Abad echoed the President’s remarks as he thanked the S&P for its favorable
assessment of the Philippines’ sovereign credit and for its recognition of the
progress being made by the Aquino administration in ensuring fiscal stability
through improved revenue administration and prudent and effective public
expenditure.
“We remain committed to fiscal consolidation.
Due to our reform efforts, the national government incurred interest payment
savings of P49.33 billion or 11 percent of what was programmed for January 2011
to May 2012. Next year, we are programmed to bringing our fiscal deficit down
to 2 percent of gross domestic product (GDP) from 3.5 percent in 2010, as well
as lowering our debt stock to 49.5 percent of GDP from 52.4 percent in 2010,” Abad
said in a statement.
Abad noted that this credit upgrade by S&P
"will bolster our chances to meet or even surpass our fiscal consolidation
targets and it will also enable us to reduce the interest cost of our debt and
swap our foreign currency-denominated credit into less volatile peso
instruments."
“This upgrade validates President Aquino’s
platform of good governance as a driver for sustainable economic growth. Buoyed
by eight positive credit actions already posted under this administration, the
country is now better-positioned to aim for investment-grade credit status and,
more importantly, for meaningful economic growth,” Abad concluded.
For his part, Presidential Spokesman Edwin
Lacierda said the country's upgraded credit rating from 'BB' to 'BB+' is a
reaffirmation of the confidence that the international community has for the
country given the favorable developments happening within.
"S&P cited the increasing fiscal
flexibility of the Philippines as one of the key reasons behind the upgrade. Indeed,
this fiscal space has allowed us to focus our efforts on investing on both our
physical and social infrastructure," Lacierda said.
“The upgrade complements several of the
country’s positive economic indicators. Our economy had grown 6.4 percent within
the first quarter of this year, compared to 4.9 percent in the same period last
year. Inflation, too, has eased to 2.8 percent in June 2012, from 2.9 percent
last month. Compared to the inflation rate of the same period last year, which
stood at 5.2 percent, this is a significant deceleration,” he added.
“We are confident that through the sustained
application of programs geared towards inclusive growth, our interventions will
result in, over the long term, a continuous improvement of the Filipino’s quality
of life. The Pantawid Pamilyang Pilipino Program (4Ps) has enrolled over three
million family beneficiaries as of April this year. More of our countrymen now
have access to a comprehensive package for education, healthcare, and family
development,” Lacierda said further.
Lacierda, said that this convergence of positive
economic and social indicators is a tangible result of the reforms established
by the Aquino administration. “We remain committed to strengthening our efforts
to ensure that the benefits of our growth are both equitable and inclusive,” he
said. (hdc)
Aquino sees brighter future for agriculture
sector after government reforms
President Benigno S. Aquino III said the
country’s agriculture sector has achieved a lot in two years, as he asked the
public to continue supporting the reforms being initiated by his administration
for the benefit of the Filipino people and the country as a whole.
“Kung may isa man pong sektor na talagang
sumasalamin sa kung gaano kaepektibo ang ating krusada sa tuwid na daan, ito ay
ating sektor ng agrikultura, sa pangunguna ng Kagawaran ng Pagsasaka,” the
President said in his speech at the Makina-Saka 2012 Agri-Machinery Roadshow in
Pasay City on Thursday.
“Talaga naman pong sa pamumuno ng ating Kalihim
Proceso Alcala, ang dating pambansang kamalig na pinagmumulan ng kaliwa’t
kanang anumalya, ngayon ay bukal ng mabubuting balita.”
Under the Aquino administration, the government
was able to cut the volume of rice imports last year from 1.3 million metric
tons to 850,000 metric tons, the President said adding that for this year, the
country will just import 500,000 metric tons for national consumption.
The agriculture department is also expecting
achieving rice self-sufficiency next year and the country may also start
shipping out rice to other countries especially if weather disturbances do not
affect production next year.
The government has also invested on the
agriculture sector to reduce wastage, the President said. Last year, the
government allocated P1 billion to buy more than 2,300 units of postharvest
machinery and other equipment.
For this year, the government increased the budget
to P2.6 billion to buy 7,000 farm machineries that will be distributed to
farmer organizations and local government units throughout the country, the
President said.
The government has also invested on the
country’s irrigation system to improve food production, he added.
The President also acknowledged the need to
enhance research and development in the country, saying that the state colleges
and universities and the Department of Agriculture must work together to help
agriculture professionals, farmers and growers with the use of modern
technology and farming methods.
“Hinihimok din po natin ang pribadong sektor na
patuloy na makibalikat sa pagpapayabong ng ating agrikultura. Ang
pagbabayanihan natin ang susi upang matiyak ang pangmatagalang seguridad sa
pagkain, gayundin sa mas matatag na ekonomiya ng bansa,” he said.
“Nananalig ako na ang tagumpay ng Makina-Saka
2012 ay magiging isang dambuhalang hakbang tungo sa mas moderno, mas
kapaki-pakinabang, at mas matatag na sektor ng pagsasaka,” the President added.
The President also asked every Filipino to
strengthen the spirit of volunteerism to empower their fellowmen noting that
every seed of reform sowed today will benefit the next generations of
Filipinos.
“Samahan po ninyo ako --- Ituloy po natin ang
pagtahak sa tuwid na landas, at atin pong pitasin ang mas mayabong na bukas,”
he said.
Also present during Thursday’s event were
Agriculture Secretary Proceso Alcala, Science and Technology Secretary Mario
Montejo, Cambodian Ambassador to the Philippines Hos Sereythonh, and Palo,
Leyte Mayor Matin Petilla. (as/3:10pm)
Government working to provide business sector
with cheaper, stable power supply, Aquino says
The government is working to make power rates
cheaper and to ensure that there is enough capacity for power generation for
the benefit of the business sector, President Benigno S. Aquino III said during
the Wallace Business Forum Quarterly Roundtable held in Makati City on
Wednesday.
“We believe that the solution is towards making
electricity prices more reasonable, as we have to have the capacity to install
on base load plants. So that has been the primary focus," the President
said.
Explaining energy issues, Energy Secretary Rene
Almendras said the government continues to encourage base load generation
expansion believing that it’s the key to bringing down power prices.
The cheapest source of electricity are the base
load plants, Almendras said, adding that at present, the country is using
non-base load plants or more expensive fuel plants to generate base load,
making electricity rates more costly.
Almendras said the government’s problem is the
difficulty to find enough investors who would like to host such plants.
Almendras also announced that they were signing
contracts at lower generation charge saying there is a new coal-fired plant
proponent who is willing to come in at P4.25 per kilowatt hour.
“So from the P5.35 to P4.25, that’s a P1.10 cut
in generation charge. But we have to allow those plants to be built. We have to
make sure that those plants come in because the newer plants are going to be
more efficient,” he said.
He also explained that the Energy Regulatory
Commission-approved generation charge for Manila Electric Co. for Luzon is
P5.35 per kilowatt hour.
Almendras acknowledged quality issues of power
being supplied to the public and to the business sector. Some electric
cooperatives failed to invest in developing or upgrading their facilities that
result to power interruptions and fluctuations, Almendras said, noting that
government has initiated a program to address the problem.
Almendras underscored the need to reformat some
of the electric cooperatives because sometimes the problem isn’t technical but
political.
While reforms in the energy sector may be
unpopular in many provinces, Almendras said they will continue initiating these
changes to make sure that the distribution utilities, especially the electric
cooperatives, step up as far as distribution quality energy is concerned.
(as/2:27pm)
