economy – Page 32 – Author Carlo Carrasco

US-Philippines Civil Nuclear Cooperation Agreement (123 Agreement) enters into force

July 18, 2024July 9, 2024carlocarrasco

The Philippines moved some steps forward into a nuclear-powered future as the United States-Philippines Civil Nuclear Cooperation Agreement (also referred to as the 123 Agreement) came into force recently, according to a Philippine News Agency (PNA) news article. This means that the legal framework for potential nuclear projects with American providers has been laid down. It is recalled that the 123 Agreement has been progressing since last year.

To put things in perspective, posted below is an excerpt from PNA news article. Some parts in boldface…

The United States-Philippines Civil Nuclear Cooperation Agreement, or the 123 Agreement, entered into force on July 2, the US Department of State’s Office of the Spokesperson announced on Tuesday (Manila time).

Signed in November last year, the 123 Agreement will establish a legal framework that allows the export of nuclear fuel, reactors, equipment, and special nuclear material from the US to the Philippines.

The agreement lays the legal framework for potential nuclear power projects with US providers and aims to facilitate Philippine-US cooperation in the safe and secure use of nuclear energy, taking into full account the standards and safeguards set by the International Atomic Energy Agency, as well as in accordance with respective national laws, international agreements, and regulations.

Upon entry into force, the 123 Agreement will allow the transfer of information, nuclear material, equipment, and components directly between the Philippines and the US or through persons authorized by their respective authorities to engage in transfer activities, which will support potential nuclear power projects with US providers.

It will also pave the way for streamlining the licensing requirements for the private sector with respect to investments in nuclear-related intangible transfers of technology.

“Energy security is an increasingly critical global challenge requiring deliberate collaborative efforts, and together, our two countries can make a significant contribution to our shared clean energy goals,” the US Department of State said.

Nuclear energy, it said, could help achieve these global climate change and energy security targets.

The US Department of State said the agreement is part of its efforts to develop the Philippines’ civil nuclear sector.

“Creating a safe, secure, and modern sector requires a skilled workforce, robust regulations, and strong commercial partnerships. Our government is committed to working with the Philippines to advance each of these areas and we look forward to further building our partnership together,” the US Department of State said.

President Ferdinand R. Marcos Jr. earlier said the administration would be glad to pursue nuclear energy as part of the country’s energy mix by 2032 through the partnership forged with American providers.

His administration seeks to increase the country’s renewable energy mix to 35 percent by 2030 and 50 percent by 2040.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that nuclear power will be more beneficial for the Filipino people and the national economy than solar and wind power? Are you aware that solar and wind power will cost too much money to create abundant energy for the Philippines?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Memorandum of Agreement (MOA) between Las Piñas City Government and Emapalico Homes HOA signed

July 15, 2024July 4, 2024carlocarrasco

Recently in the City of Las Piñas, a memorandum of agreement (MOA) between the City Government and the Emapalico Homes Inc. homeowners association (HOA) was formally signed which will pave the way for commercial development of a key property, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Las Piñas City Mayor Imelda Aguilar and the officers of the Emapalico Homes Inc. homeowners’ association signed a Memorandum of Agreement (MOA) for the commercial development of their property.

Aguilar said that during the signing of the MOA held last June 19 at the City Hall, the homeowner’s association agreed in converting part of their property into a commercial area while maintaining a portion for use as a tricycle terminal to ensure that essential local transportation remains available.

She said the MOA also highlighted the city government’s commitment to promoting balanced urban development and stimulating economic growth by creating new business opportunities which are expected to enhance the livelihood of residents in Barangay Talon Uno.

Aguilar explained that the plan reflects the city’s broader strategy of promoting sustainable development and in addressing the needs of the community.

She said the project also aligns with the city’s vision of improving infrastructure and living standards through collaborative efforts between the local government and community stakeholders.

The mayor added that the project is anticipated to be a significant step forward in enhancing both the economic and social aspects of Barangay Talon Uno, showcasing a model of sustainable urban development in Las Piñas City.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Do you think the MOA signing will open up a lot of new economic opportunities for Barangay Talon Uno residents within the first twelve months?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

I Love Israel: Israeli startups see Philippines as a viable gateway to Southeast Asian markets

July 11, 2024July 2, 2024carlocarrasco

As some of you are already aware, I fully stand with Israel which is very connected with my uncompromising faith in the Lord. I keep on praying to Him for Israel to overwhelm its enemies, rescue the hostages and recover from the effects of the October 7, 2023 terrorist attacks committed by the Palestinian terrorist group Hamas. I can assure all of you that nobody from the evil Islamo-Leftist mob, nobody from the pro-Palestine radicals and nobody from any evil society would stop me from supporting and loving Israel.

Now, on with the news…

Recently, Israel’s Ambassador to the Philippines Ilan Flus confirmed that startups from the Jewish state view the Philippines as a viable gateway to Southeast Asian markets, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the BusinessWorld news article. Some parts in boldface…

ISRAEL companies, particularly startups, view the Philippines as a viable gateway to Southeast Asian markets, according to the Israeli Ambassador and the head of Israel’s economic mission in Manila.

“Asia is a growing market, and Israeli companies are becoming more and more interested in the markets here,” Ambassador Ilan Fluss told BusinessWorld on the sidelines of an Israeli tech startup pitch event at his residence in Makati City.

“The Philippines is also an entry point to the Association of Southeast Asian Nations,” he added.

He said the embassy is working closely with the Anti-Red Tape Authority to find ways to make it easier to do business in the Philippines.

“I think the important thing for an Israeli company is to have a good Filipino partner that will be able to guide them (in navigating) the economy,” Mr. Fluss said, noting the difficulties posed by bureaucracy.

Tomer Heyvi, head of the Israel Economic Mission to the Philippines, said more Israeli startups are showing interest in seeking investors from the Philippines.

“The Philippines is a rising star and there is a lot of interest from the Israeli companies in trade, commerce, but also, of course, in investment,” he told BusinessWorld.

Mr. Heyvi said there are more than 9,000 startups in Israel that are seeking partnerships to help them break through in various global markets, including the Philippines.

“Every year, we see an increase in the interest of Israeli companies. So, for me, it’s already an indication that they find this market interesting.”

According to the Central Bureau of Statistics of Israel, trade between the Philippines and Israel amounted to $532 million last year.

Israel’s Ministry of Economy and Industry said on its website that business services between both countries last year were mostly provided by Israeli startups and tech companies engaged in artificial intelligence-based platforms, cybersecurity, and financial technology solutions.

Very clearly, the ties between Israel and the Philippines remain intact and are in fact gradually gaining strength. The future of economic cooperation between the two nations looks bright even though there are lots of uncertainties happening overseas (armed conflicts with Hamas and Hezbollah, anti-Israel rallies in America and Europe, and so on).

To my fellow Filipinos reading this, I encourage you to accept the truth that Israel is the land God designated specifically for the Jewish people (read Genesis 35:10-12) and His command must be followed without hesitation. If you want to be blessed further by the Lord, do so by loving and blessing the Jewish people (Genesis 12:1-3). I did my part when I was in Israel. Also, let me remind you all that the ties between the Jews and Christians are truly biblical!

We live in a very divided world. Around the world, Leftist forces have been supporting evil forces like the current regime of Iran which is known for supplying and arming the Palestinian terrorists, Hezbollah and other terrorist groups around the Middle East. The Leftists and terrorists always go together and their anti-Semitism is clearly obvious. Hamas, which has long been supported by terrorist state Iran, is purely evil and they are being protected by not only their fellow terrorists but also by mainstream news media outlets who are linked with Leftist forces and people who hate Israel and the Jewish people. Iran even has Hezbollah in Lebanon doing their evil works for them. Beware of the evil union of the Islamo-Left which is wicked deep within.

With all that said, I encourage you all to pray to the Lord God in support of Israel and believe that He will guide the Israeli forces to another victory which means finishing off Hamas, crushing Hezbollah and forcing Iran and its terror proxies to give up. Read Joshua 11:1-20 in the Holy Bible for relevance and truth. Pray to the Lord to support Israel, its government officials, the Israel Defense Forces (IDF) and other stakeholders.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful, you should be aware that Christians are meant to stand united with Israel and love the Jewish people no matter what. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus! Always stand in support of Israel and pray for the peace of Jerusalem.

In ending this I Love Israel piece, posted below are Israel-related videos for your enlightenment.

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What to watch on YouTube right now – Part 24

July 8, 2024July 8, 2024carlocarrasco

Welcome back, my readers, YouTube viewers and all others who followed this series of articles focused on YouTube videos worth watching. Have you been searching for something fun or interesting or informative to watch on YouTube? Do you feel bored right now and you crave for something to see on the world’s most popular online video destination?

I recommend you check out the following topics and the related videos I found.

#1 Germany is suffering from the acceptance of so many so-called refugees – I want to make clear to all of you that I personally reject illegal immigration and mass migration as I truly believe that nations should always secure their borders, prioritize their citizens, protect their national sovereignty and deport all foreigners who committed crime in their country. That being said, there are lots of YouTube videos about Germany’s suffering which is the result of the huge acceptance (open-borders approach) of so many foreigners in 2015 perceived by the administration of then Chancellor Angela Merkel as so-called refugees. Merkel eventually expressed regret about the big move.

To be clear, allowing so many foreigners to enter your country as migrants or asylum seekers often leads to new waves of crime, cultural tensions and a tremendous drain of taxpayer-funded resources. Also, think carefully about how many asylum seekers lied to German immigration officials about their backgrounds and situations just to enter? Is each and every asylum seeker a genuine victim of war, poverty and crime in their home country? How many people among the asylum seekers are actually terrorists and crooks? Do these asylum seekers seriously believe in reshaping Germany based on their selfish interests and impulses? How many of these migrants are willing to integrate themselves into German society and norms? For your enlightenment, posted below is a video from The Journeyman Pictures about what happened in Germany when the specially treated migrants were already in.

#2 Sega Saturn vs. Arcade videos by Sega Lord X – I never owned a Sega Saturn console. There were times when I wish I owned one as I was fond of arcade games and wanted to play them in the comfort of home. For your retro gaming interest, the Sega Saturn had ports of arcade games and there were some that were released only in Japan. Watch the selected videos of Sega Lord X below.

#3 Ashleigh Burton’s Sean Connery James Bond videos – If you are a fan of Sean Connery and his James Bond movies, then you would be interested to see Asheigh Burton’s movie reaction videos of Dr. No, From Russia with Love, Goldfinger, Thunderball, You Only Live Twice, and Diamonds Are Forever. Each of her videos are entertaining to watch.

#4 A look back at Asteroids – Way back in the early 1980s, I played the classic video game Asteroids on the Atari 2600 a lot. I never got to play it in the arcades but I played the arcade version on my Xbox Series X using the Atari 50 Collection software. If you want to know the history and impact of Asteroids, watch this video by PatmanQC.

#5 A look back at Konami Wai Wai World – Way back in 1988, my friends and I played Konami Wai Wai World (called Konami World for short) on the Family Computer (Famicom) and no matter how challenging it was to write down and input Japanese text for the passwords, we persevered to play and complete it. Konami Wai Wai World was a 2D, side-scrolling adventure game that had this ambitious concept of a crossover gathering of playable original Konami characters plus the characters from licensed games – Mikey Walsh (The Goonies and The Goonies II) and the iconic King Kong (King Kong 2: Ikari no Megaton Punch). The video by RetroGamingKnight is a must-watch for those who intend to really learn a lot about Konami Wai Wai World.

#6 You, Me and the Movies’ Creepshow reaction video – The 1982 film Creepshow is one of those horror movies made to provide viewers horror and fun. It was a film that featured the combined talents of author Stephen King and director George A. Romero. This reaction video by You, Me and the Movies is a must-watch.

#7 Minty Comedic Arts’ X2: X-Men United trivia video – I saw X2: X-Men United in the cinema here in the Philippines on its opening day on April 30, 2003. Sometimes referred to as X-Men 2, the movie was clearly an improvement over its predecessor and the filmmakers took inspiration from a very notable sci-fi movie for its storytelling and character development. This and a lot more await you all in Minty Comedic Arts’ trivia video of X2: X-Men United.

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More than P783 million deposited through BSP’s coin machines

July 4, 2024June 26, 2024carlocarrasco

Over P783 million worth of coins have been deposited through the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) as of June 23, 2024, as published on their website.

Based on the latest statistics, a total of P783,628,810.29 (10.7% higher than the previous month’s count of P707,661,554.41) in coins got deposited into BSP machines on 191,804 transactions (9.8% higher than the previous month’s 174,656 transactions) from customers. In terms of physical quantity, 211,689,731 in coins were deposited. The previous count of deposited coins was 193,901,254.

Doing the math on the latest statistics, customers averaged P4,085.57 per transaction (versus the previous month’s P4,051.74 per transaction) at the machines. As for the grand total Peso amount divided by the number of coins deposited, the average is P3.7018 per coin deposited (versus the previous month’s average of P3.6496 per coin deposited).

Let me end this piece by asking you readers: What is your reaction to this recent development? Were you able to deposit your excess coins into a BSP coin deposit machine in your locality recently? How long did you have to wait in line before depositing your coins at the BSP machine?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

New hotel in Parañaque City inaugurated

July 3, 2024June 23, 2024carlocarrasco

Recently in the city of Parañaque, the newly opened Grand Westside Hotel located in Entertainment City was inaugurated with the presence of President Ferdinand “Bongbong” Marcos, Jr., who expressed confidence about its tourism and economic prospects, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is the excerpt from the PNA news article. Some parts in boldface…

President Ferdinand R. Marcos Jr. on Saturday said the newly opened Grand Westside Hotel in Paranaque City, tagged the biggest hotel development in the country yet, would be a major economic and tourism boost.

During the inauguration of Megaworld’s Grand Westside Hotel, Marcos said the 19-story establishment with over 1,500 rooms would not only strengthen the government’s tourism campaign but would also generate more jobs and business opportunities for Filipinos.

Marcos said the hotel’s addition to Philippine tourism is particularly noteworthy in light of the sector’s “remarkable” growth, which contributed 8.6 percent to the country’s gross domestic product in 2023.

“Thanks to this hotel, we can do more. Not only can we accommodate the resurging number of local and international tourists coming to this side of Metro Manila, but we can also expect our Entertainment City to become better known and even more distinguished, elevating its status to more potential visitors in the coming years,” the President said in his speech.

Marcos disclosed that other developments from the real property giant are underway, including the 1,500-seater Grand Opera House also in Paranaque, more theaters and a gaming complex, among other things.

“With all these, we foresee not only the entry of more tourists but also the generation of more jobs, of new businesses and greater opportunity. In fact, [while] many have benefitted from the actual construction of these [properties], around 20,000 direct and indirect jobs will still be created throughout the operation of this hotel in the years to come,” he said.

The President said he is looking forward to Megaworld’s triumphs that will “undoubtedly contribute to the new Philippines, ang Bagong Pilipinas.”

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you delighted with the Grand Westside Hotel operating in the city?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Batangas City Council approves resolution to ban POGOs

June 28, 2024June 27, 2024carlocarrasco

Over in the province of Batangas, the City Council of Batangas recently approved a resolution for the banning of the application and operation of Philippine Offshore Gaming Operators (POGOs) within their jurisdiction, according to a GMA Network news report.

To put things in perspective, posted below is an excerpt from GMA news report. Some parts in boldface…

The Batangas City Council has approved a resolution banning the application and operation of Philippine Offshore Gaming Operators (POGOs) in the city.

The decision was made during a regular session on Monday, June 24, 2024.

The move came in light of issues and an ongoing Senate investigation into POGOs in Bamban, Tarlac, which allegedly involved the local government unit (LGU) there.

“Saying it is with regard to the issue at Bamban, Tarlac na investigation ng Senate sa POGO involving the LGU. It would give assurance din sa mga Batangueno na hindi dapat matakot sa mga POGO activities dito sa Batangas City,” Nestor Dimacuha, chairman of the Committee on Laws and Rules, said.

For Mary Jane Ante, a 39-year-old helper at a small eatery in Batangas City, the ban brings great relief. Despite knowing that POGOs could provide many jobs, she prefers not to have foreign operators in the country due to safety concerns.

“Baka sumakop sila sa Pilipinas. Dito na lang, ayos din para Pilipino na lang ang magtatrabaho sa atin at wala na ‘yung mga taga-ibang bansa,” Ante said.

“Hindi naman talaga maganda ang sugal talaga sa pang araw-araw, kasi nakakaperwisyo yan ng pamilya. Hindi ako pabor sa ganoon. Huwag na lang pumasok dito ang POGO para walang ma-perwisyo,” Arnel Montalbo, a printing shop owner, added.

The resolution cites that POGOs tarnish the dignity of the LGU, leaving no room for such operations in the city. It also serves as a warning to businesses operating secretly as POGOs, despite having business permits.

The council will request the mayor to revoke permits of establishments found to be operating illegally as POGOs.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the City Council of Batangas did the right move? Do you think more local government units (LGUs) around the country should approve legislation banning POGOs?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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I Love Israel: Israel approves plan to bring in 92,000 foreign workers

June 27, 2024June 19, 2024carlocarrasco

As some of you are already aware, I fully stand with Israel which is very connected with my uncompromising faith in the Lord. I keep on praying to Him for Israel to overwhelm its enemies, rescue the hostages and recover from the effects of the October 7, 2023 terrorist attacks committed by the Palestinian terrorist group Hamas. I can assure all of you that nobody from the evil Islamo-Leftist mob, nobody from the pro-Palestine zealots and nobody from any evil society would stop me from supporting and loving Israel.

Now, on with the news…

Recently, the Office of the Prime Minister of Israel announced that officials approved a quota of over ninety thousand foreign workers to come into Israel to fill vacant jobs in the industry, agriculture, hotels and restaurant sectors, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Seeking to address a labor shortage, Israeli officials approved a quota of 92,000 foreign workers to fill jobs in agriculture, industry, hotels and restaurants, the Prime Minister’s Office announced on Tuesday.

This marks the first time Israel has authorized foreign workers for the restaurant industry.

Seventy percent of the quota is specifically set aside for agricultural laborers. Israeli agriculture is facing staggering losses in production and manpower.

Before Oct. 7, Israel had 29,900 foreigners, mostly Thais, working in farms, orchards, greenhouses and packing plants.

Israeli workers who might have filled the gaps have been called up for military reserve duty while Palestinian laborers are currently banned as security risks.

Many growing areas are within two kilometers of the Lebanese border where farmers have not been able to freely access fields and orchards.

“Despite the challenges of the war, the packing house works around the clock, with the aim of providing fresh Israeli produce continuously, while dealing with the directives of the Home Front Command,” said Asaf Keret, CEO of Beresheet, a fruit-packing business jointly run by several kibbutzim in the Upper Galilee and Golan Heights.

Keret was addressing a delegation of fruit growers and agricultural officials touring Beresheet’s orchards.

He called on the government to boost agriculture with further measures, such as grants for planting, raising lang quotas, and other incentives.

“The fruit growers are at the height of the picking season and are faced with picking under the fire of Hezbollah, and we are prepared to market the produce of the farmers of the Galilee and the Golan to the marketing chains and wholesale companies. Thanks to our dedicated farmers and workers, I am sure that we will be able to supply the produce to the residents of the State of Israel,” Keret said.

The remaining foreign workers will fill gaps in industry, and hotels, with 2,000 to work for the first time in restaurants.

Israel is making moves to revive its economy which was affected by the October 7 terrorist attacks. There are gaps that need to be filled up and we will find out soon enough how many foreign workers will turn out to enter and work in Israel legally.

We live in a very divided world. Around the world, Leftist forces have been supporting evil forces like the current regime of Iran which is known for supplying and arming the Palestinian terrorists, Hezbollah and other terrorist groups around the Middle East. The Leftists and terrorists always go together and their anti-Semitism is clearly obvious. Hamas is purely evil and they are being protected by not only their fellow terrorists but also by mainstream news media outlets who are linked with Leftist forces and people who hate Israel and the Jewish people. Beware of the evil union of the Islamo-Left which is wicked deep within.

Always be the fearless and aggressive church of Lord Jesus! Always stand in support of Israel and pray for the peace of Jerusalem.

In ending this I Love Israel piece, posted below are Israel-related videos for your enlightenment.

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37 Chinese nationals arrested in Parañaque City over illegal retail

June 13, 2024June 5, 2024carlocarrasco

Recently in the city of Parañaque, immigration agents arrested almost forty Chinese nationals over alleged involvement in illegal retail, according to a GMA Network news report.

To put things in perspective, posted below is the excerpt from the GMA news report. Some parts in boldface…

The Bureau of Immigration (BI) on Wednesday announced that it has arrested 37 Chinese nationals allegedly involved in illegal retail in Paranaque.

The BI said that the seven females and 30 males from Multinational Village were found to be illegally involved in food retail, groceries, and restaurants. They were arrested on Tuesday, June 4, 2024.

“We received credible information about foreign nationals engaging in illegal retail activities, and our team acted swiftly to address these violations,” Immigration Commissioner Norman Tansingco said in a statement.

The Chinese nationals are detained at the BI’s facility inside Camp Bagong Diwa pending the resolution of their deportation cases.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that there could be more Chinese nationals secretly committing crime or violating local regulations within the city? What do you think would stop Parañaque from being a hot spot of crime involving Chinese nationals? Are there lots of Chinese nationals living in your village by groups per household?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

DOF considering selling government’s SLEX share

June 12, 2024June 2, 2024carlocarrasco

Recently the Department of Finance (DOF) announced that it is considering selling the government’s share in South Luzon Expressway (SLEX), according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin. Some parts in boldface…

The Department of Finance (DOF) is considering selling the government’s stake in the South Luzon Expressway (SLEX) by the end of this year.

Finance Undersecretary Catherine L. Fong told Manila Bulletin that the government’s ownership in SLEX is included among the assets slated for privatization in 2024.

However, Fong did not provide additional details when asked about the specific shares in SLEX that are being considered for sale.

The government currently holds a 20 percent stake in SMC SLEX Inc., the toll road operator, through the state-owned Philippine National Construction Corp. (PNCC).

SMC SLEX, formerly known as South Luzon Tollway Corp, operates as a unit of San Miguel Holdings Corp. and is a joint venture with PNCC.

Fong said that the Land Bank of the Philippines will conduct the valuation of the SLEX shares.

In 2006, SMC SLEX was granted a 30-year concession, set to expire on Feb. 1, 2036, to operate and manage SLEX, a major tollway in Luzon.

The proceeds from the sale will help achieve the Marcos administration’s target of generating P42.12 billion in non-tax revenues through privatization in 2024.

Apart from the SLEX shares, Fong said that the DOF is also set to sell the 2.2-hectare Mile Long property in Makati.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think selling the government’s stake in the SLEX will turn out good and sensible?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

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