Tag: economy

Muntinlupa Mayor Biazon declares city steadily bouncing back

Muntinlupa Mayor Biazon declares city steadily bouncing back

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Recently in the progressive city of Muntinlupa, Mayor Ruffy Biazon stated that the city is steadily bouncing back from the downturn of COVID-19 as he delivered his State of the City Address during the 28th cityhood celebration, according to a Manila Bulletin news report. The mayor also shared updates about the city government’s programs.

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

Mayor Ruffy Biazon delivered his first State of the City Address on Muntinlupa’s 28th cityhood anniversary on March 1 and said the city is bouncing back from the effects of the Covid-19 pandemic.

“The pandemic has been a true test of our strength, even of our faith. It has been—and for some, still is—a difficult time, but the good news is that we are steadily bouncing back. We are steadily recovering from the effects of the crisis caused by the pandemic,” he said.

One indicator, he said, is that the number of registered businesses in Muntinlupa increased to 12,232 as of Jan. 31 this year, up by 59 percent from 7,651 in January 2022.

Muntinlupa became a highly urbanized city on March 1, 1995 when then President Fidel Ramos signed Republic Act 7926 or the Charter of the City of Muntinlupa.

According to Biazon, in 2022, the Muntinlupa City government collected P6.03 billion in total revenues, exceeding the target income for the year with 101.09 collection efficiency.

“This means we have enough collections to fund our pandemic recovery programs and projects,” he said.

Under his administration, he focused on reviving the local economy and in strengthening health services and education.

“It is important to mention that Congressman Jimmy Fresnedi’s leadership paved the way for the progressive and developed Muntinlupa that it is today,” he said.

He added, “Our cityhood journey, and now our road to pandemic recovery, underscores the importance of working together, and shows what we can do when we are focused towards a more livable and more responsive city for Muntinlupeños.”

Biazon ran and won as mayor in the May 2022 elections, and launched his 7K Agenda containing the blueprint of his administration.

HEALTH – In 2022, he said, the city government continued its immunization program against Covid-19. The city achieved 136 percent vaccination rate of the eligible target population, or 580,614 individuals, while 80 percent have received their booster shots. In addition, 80 percent of the target population got immunized under the Chikiting Bakunation Program.

The Putatan Health Center was transformed into a Super Health Center that expanded medical and diagnostic services, and operating hours up to 10 p.m. The health center provides basic consultation, minor surgery, laboratory and radiology services, ultrasound for pregnant women and medicine.

The Biazon administration also launched the Womb to Work Program aiming to provide programs for children.

Services at the city-run Ospital ng Muntinlupa were improved including the construction of a new annex building that increased the facility’s bed capacity from 200 to 250.

“I’m also glad to share with you all that we can look forward to the Ospital ng Muntinlupa being an accredited Malasakit Center in the near future. This program, in partnership with the national government, will serve as a one-stop hub for requesting assistance for medical services and for providing indigent patients access to free medicines and quality health care and medical intervention,” said Biazon.

EDUCATION – Biazon thanked the Schools Division Office for preparing for the return of nearly 89,000 students to face-to-face classes. He turned over hygiene kits to the office as part of the full implementation of face-to-face classes in public schools.

The city government also launched programs such as the Muntinlupa Reading Book Club to encourage reading among the youth.

Under the city’s scholarship program, 82,000 students have received financial assistance. Of the P450 million budget for scholarship programs, 85 percent of it is for elementary and high schools students. The city also has about 3,000 college and university scholars.

The Doctor of Medicine Program of the Pamantasan ng Lungsod ng Muntinlupa and Ospital ng Muntinlupa was also launched.

LIVELIHOOD – Biazon said Muntinlupa was recognized as the fifth most competitive economy among 33 highly urbanized cities in the Philippines by the Department of Trade and Industry  Competitiveness Bureau.

Under the Dagdag Puhunan, or zero-interest loan program of the city government, more than P20 million was provided to 7,533 entrepreneurs

This year, he said, the city government will launch the SIKAP loan or startup capital loan for those who want to start their own business.

He also thanked business owners who have complied with City Ordinance 96-80 that mandates that at least 70 percent of their total workforce should be from Muntinlupa. He is requesting for the amendment of the ordinance to give incentives to businesses that have 100 percent Muntinlupa resident employees.

The mayor also thanked the Department of Agriculture, led by President Ferdinand Marcos Jr., for holding the Kadiwa program in Muntinlupa.

To find more details from the mayor’s speech, click https://mb.com.ph/2023/03/02/biazons-soca-muntinlupa-steadily-bouncing-back/

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? Did the mayor deliver all the relevant details in his speech? What do you think the City Government should do to strengthen the local economy to pre-pandemic levels?

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 at https://www.instagram.com/authorcarlocarrasco

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

AIA Philippines’ investment management arm expresses optimism of robust growth of the Philippine economy

AIA Philippines’ investment management arm expresses optimism of robust growth of the Philippine economy

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Recently, the investment management arm of AIA Philippines expressed confidence that the Philippine economy will continue to have robust growth in connection with what they claim to be an expanding manufacturing sector, according to news article published by the Philippine News Agency (PNA).

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

An official of the investment management arm of AIA Philippines is optimistic on the robust growth of the domestic economy as the manufacturing sector continues to expand.

In a briefing on Thursday, AIA Investment Management and Trust Corporation Philippines (AIAIM Philippines) chief executive officer Angie Pacis said the country’s manufacturing sector is expected to continue posting expansion following the seven-month high manufacturing index in January 2023.

“Notwithstanding the slight weakening of the business confidence and consumer confidence, businesses will still be on a growth track,” she said.

The S&P Global Manufacturing Purchasing Managers Index (PMI) hit 53.5 in the first month this year. An index of 50 and above indicate expansion while those below 50 indicate contraction.

Pacis said forecasts point to continued 50-level index in the coming months.

Pacis also identified demographic dividends as among the factors that will help boost domestic growth this year given the large number of young people who are part of the workforce.

“It’s a young population, it’s a big population with a growing middle class that is actually becoming stronger. Because of that, we will continue to attract investments notwithstanding some of the structural problems,” she added.

These factors are seen to boost one-year-old AIAIM Philippine business, which currently offers three unit investment trust funds (UITFS) namely AIA Peso Adventurous Fund, AIA Peso Balanced Fund and AIA Peso Conservative Fund.

Pacis said the products they are offering are exclusively available for AIA Philippines policy holders for now, while the assets amounting to PHP155 billion they currently have will be handled purely without catering to outside investors.

Let me end this piece by asking you readers: What is your reaction to this new development? Were you able to understand the explanations from AIA Philippines investment management arm?

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 and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. If you want to support my website, please consider making a donation. 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 at https://www.instagram.com/authorcarlocarrasco/.

Oxford Economics says Philippine economic growth will slow down to 4.1% this year

Oxford Economics says Philippine economic growth will slow down to 4.1% this year

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For Oxford Economics, the economy of the Philippines will achieve continued growth in 2023 but with a notable slow down to 4.1%, according to a BusinessWorld news report. Oxford Economics mentioned in its statement factors like the global economy entering recession, inflation and the lack of impact from China’s reopening.

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

PHILIPPINE ECONOMIC GROWTH is expected to slow to 4.1% this year, as external headwinds and elevated inflation are seen to dampen domestic demand, Oxford Economics said.

“After registering respectable growth of 7.6% in 2022, we expect the Philippines’ economy to slow to 4.1% amid global headwinds, elevated inflation, and a fading reopening boost. With monetary tightening set to continue, the economy could use a hand from the fiscal side, but chances are slim,” Makoto Tsuchiya, assistant economist at Oxford Economics, said in a research note released on Wednesday.

Oxford Economics’ gross domestic product (GDP) projection is well below the government’s 6-7% target.

It expects GDP to expand by 4.5% next year, still outside the 6.5-8% target set by the government.

“We expect GDP growth to slow materially amid softer external demand as the global economy enters a recession, led by weakness in major advanced economies. We don’t think China’s reopening will be enough to offset this weakness, with the recovery in private consumption there likely to be lackluster,” Mr. Tsuchiya said.

There is a widely anticipated global recession this year, with the World Bank projecting global growth to slow to 1.7%.

Rising inflation is also seen to “substantially” slow the Philippine economy, Mr. Tsuchiya said.

In January, inflation soared to a 14-year high of 8.7%, marking the 10th consecutive month inflation was above the Bangko Sentral ng Pilipinas’ (BSP) 2-4% target range.

The central bank also raised its average inflation forecast to 6.1% this year from 4.5% previously.

Oxford Economics said that the BSP will continue to hike rates to tame inflation and keep in step with the US Federal Reserve.

“Elevated inflation means policy makers will not be able to react by lowering interest rates. Indeed, we expect tightening to continue for at least the next two meetings, albeit at a slower pace — in contrast to other Asian central banks who can afford to pause,” Mr. Tsuchiya said.

Oxford Economics also cited the lack of policy support as a factor contributing to slower growth this year.

“We think significant support is unlikely given limited policy space on both the monetary and fiscal front. Ideally, fiscal policy would take over the burden of supporting growth. But debt accumulated during the pandemic era means the focus is instead on fiscal consolidation,” Mr. Tsuchiya said, noting that the Philippine government may adopt a more restrained approach in spending.

Oxford Economics expects the budget deficit will reach 2.7% of GDP by 2028, better than the 3% projection given by the Development Budget Coordination Committee (DBCC).

The government projects the fiscal deficit to hit 6.9% of GDP or around P1.5 trillion this year. In the 11 months to November, the budget deficit shrank by 7.2% to P1.24 trillion.

However, Oxford Economics said the debt-to-GDP ratio may remain elevated at 61.1% by 2025. This is higher than the 60% target set by the government in the same period.

The country ended last year with a debt stock at 60.9%, better than the 63.7% seen in end-September but still above the 60% threshold considered manageable by multilateral lenders for developing economies.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think Oxford Economics’ prediction about 4.1% economic growth for the Philippines this year will turn out to be true? Do you think Oxford Economics made a strong case explaining why economic growth in 2023 will be smaller 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

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

BIR says half a trillion Pesos lost to tax evasion each year

BIR says half a trillion Pesos lost to tax evasion each year

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Tax evasion remains a very serious problem in the Philippines. As far as the Bureau of Internal Revenue (BIR) is concerned, the authorities lose around half a trillion Pesos each year due to tax evasion, according to a BusinessWorld news report.

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

THE GOVERNMENT loses around P500 billion annually to tax evasion, according to a top Bureau of Internal Revenue (BIR) official.

“There is a lot, especially if we include those involved in illicit trade. In cigarettes alone, there’s around P100 billion,” BIR Commissioner Romeo D. Lumagui, Jr. said, when asked about revenue losses from tax evasion.

“Leakages aren’t part of that yet, like petroleum or vape products that aren’t registered, as well as fake receipts. I think it won’t go below P500 billion if you add everything up,” he added.

Mr. Lumagui said the BIR will have an easier time achieving its collection targets if it addresses tax evasion.

Earlier this month, the BIR filed 74 tax evasion complaints worth P3.5 billion against several companies.

“We will tailor efforts to improve digital services so businesses will leave the shadow economy and join the tax net. We will now focus on enforcement activities against tax evaders, put emphasis on tapping uncollected taxes through illegal activities,” Mr. Lumagui said.

The BIR is currently monitoring and investigating a number of suspected tax evaders.

“The most important right now is the selling of fake receipts and we know who (they are). We are investigating so we can file a case against those involved,” Mr. Lumagui said.

The BIR is targeting to collect P2.6 trillion in revenues this year.

“With all our activities and efforts we are making, we will be able to achieve the tax collection target,” he said.

In 2022, the agency collected a total of P2.34 trillion, surpassing its P2.1-trillion target.

Meanwhile, Mr. Lumagui said the agency will also review its policies after the Supreme Court declared void its regulations that require firms to disclose the personal information of investors.

“We must respect the privacy (of these investors) but when it comes to the correct amount of taxes, the BIR has auditing power. There is still a need to pay taxes and the compliance of these businesses needs to be monitored. When it comes to determining the correct amount of taxes, we can investigate that,” he added.

The Supreme Court declared that the BIR Revenue Regulations No. 1-2014 and Revenue Memorandum Circular (RMC) No. 5-2014 “void for being unconstitutional” as it violated the right to privacy.

The regulations require businesses to disclose investor information such as addresses, tax identification number (TIN), and birthdays, among others.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the BIR will be able to collect P2.6 trillion this year even with tax evasion still going on? What do you think should be done to eradicate tax evasion all over 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

Metro Manila Council (MMC) to inspect NCR markets to ensure sellers are following DTI-issued suggested retail prices

Metro Manila Council (MMC) to inspect NCR markets to ensure sellers are following DTI-issued suggested retail prices

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The Metro Manila Council (MMC) – a special governing body composed of incumbent mayors of cities of Metropolitan Manila – will soon be inspecting markets within the National Capital Region (NCR) to see if the suggested retail prices (SRP) are being followed by the vendors, according to a Manila Bulletin news report. No less than new MMC president and incumbent San Juan mayor Francis Zamora said so.

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

San Juan City Mayor and Metro Manila Council (MMC) President Francis Zamora vowed to inspect other markets in the National Capital Region (NCR) to ensure that all sellers and vendors are following the suggested retail price (SRP) issued by the Department of Trade and Industry (DTI).

“Iikot kami ni Chairman (Romando) Artes sa iba’t ibang market para mag-inspect as the MMC Chairman. So far, all the mayors are supportive that all markets will follow the SRP (Chairman Artes and I will visit other markets in my capacity as the MMC Chairman. So far, all the mayors are supportive that all markets will follow the SRP),” Zamora said.

Zamora made the statement following the MMC’s inspection at the Agora Market in San Juan City on Feb. 21. The inspection was spearheaded by Zamora, Metropolitan Manila Development Authority (MMDA) Chairman Romando Artes, DTI Asec. Ann Claire Cabochan, and representatives from the Bantay Presyo of the Department of Agriculture (DA).

Aside from checking the SRPs, the DTI also inspected the weighing scales being used by the vendors and were pleased to know that the scales carry the precise weight.

“Ginawa natin ito dahil ang gusto natin ay siguraduhin na tama ang presyo ng bilihin dito sapagkat kawawa ang mga mamamayan natin kung mataas ang presyo ng bilihin kaysa sa SRP (We are doing this because we want to ensure that the price of commodities being sold are correct and also to protect the consumers from those who are selling their produce well above the SRP),” he added.

During their inspection at the Agora Market, two vendors were found violating the SRP bulletin of the DTI.

Zamora said vendors found selling overpriced commodities will be penalized under City Ordinance 32, Series of 2008 or the Ordinance Creating the Local Price Control Coordinating Council. First-time violators will be fined P2,000, 2nd-time offenders will be fined P3,000, 3rd-time offenders will be fined P5,000 and their permits will be revoked.

Let me end this piece by asking you readers: What is your reaction to this development? Are you concerned that vendors in your local markets could have been violating SRP? Does this news development make you feel that you are being protected by the MMC?

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 and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. If you want to support my website, please consider making a donation. 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 at https://www.instagram.com/authorcarlocarrasco/.

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

Cambodia aiming to attract 3 million to 4 million foreign tourists for 2023

Cambodia aiming to attract 3 million to 4 million foreign tourists for 2023

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Cambodia, the nation that will be hosting the 32nd edition of the Southeast Asian Games (also referred to as SEA Games and Cambodia 2023, click here and here), is aiming to attract between 3 million to 4 million foreign tourists for the year 2023 and improve over what was achieved in 2022, according to Khmer Times news report. For the year 2022, Cambodia attracted 2.28 million foreign tourists while the Philippines and Israel attracted 2.65 million and 2.675 million foreign tourists respectively.

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

Prime Minister Hun Sen expressed his hope that between three and four million foreign tourists will visit Cambodia this year.

At a get-together with the 1,049 grade A students of the 2021-2022 academic year held here at Chroy Changvar International Convention and Exhibition Centre this morning, Hun Sen said two major events this year, including the Angkor Sankranta in April and the SEA Games-ASEAN Para Games in May and June, will attract more foreign visitors to the country.

“This year, we hope to welcome the return of foreign tourists, from three to four millions of them,” he underlined.

At the same time, Prime Minister Hun Sen also called on all Cambodians overseas to visit their home country, particularly during these two upcoming big events.

According to the Ministry of Tourism’s statistics, Cambodia welcomed 2.28 million foreign visitors last year, a sharp rise by 1,059 percent compared to 2021.

Let me end this piece by asking you readers: What is your reaction to this new development? Have you ever visited Cambodia for tourism? If you did, how would you rate the quality of their tourist spots and how hospitable are Cambodia’s tourism industry workers?

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 and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. If you want to support my website, please consider making a donation. 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 at https://www.instagram.com/authorcarlocarrasco/.

Cambodia a potential new source of rice for the Philippines

Cambodia a potential new source of rice for the Philippines

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While living here in the Philippines doing your daily chores and fulfilling other objectives, do you still remember how much money did you spend buying rice grain for your household over the last six months? Do you find the current prices of rice expensive nowadays? As far as rice is concerned, the nation of Cambodia could become the next new source of rice grain for the Philippines, according to a news article published by the Philippine News Agency (PNA).

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

Cambodia is exploring opportunities to directly export rice to the Philippines, offering an alternative and cheaper source of rice for the country.

Department of Trade and Industry (DTI) Secretary Alfredo Pascual met with a Cambodian delegation on Thursday, led by chief executive officer of the state-owned Green Trade Company Chan Sokty and the president of the Cambodia Rice Federation Okhna Chan Sokheang.

Green Trade is the counterpart of DTI’s Philippine International Trading Corp. (PITC).

The Cambodian delegates are also exploring exporting rice through a government-to-government arrangement between Green Trade and PITC.

“They are still in the fact-finding stage. They are surveying our markets,” Pascual told reporters.

Pascual said Cambodia has a rice surplus of 50 percent of its total rice production, and the Southeast Asian country intends to sell it directly to neighboring countries and also in Europe.

Cambodian rice can enter the Philippine market at 35 percent tariff rate.

Pascual added the Cambodian delegates said they can commit to supply 3 million metric tons of rice to the Philippines, which is the level of imported rice by the country in 2022.

Earlier, Go Negosyo founder and ASEAN Business Advisory Council chair Joey Concepcion said Cambodia expressed intention to directly export unmilled rice to the Philippines on the sidelines of the ASEAN Summit in November 2022.

Concepcion then said Cambodia exports unprocessed rice to Vietnam, wherein the country processes the rice before exporting to other countries like the Philippines.

More than 80 percent of the country’s rice imports are sourced from Vietnam, according to the Bureau of Plant Industry.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think rice imported from Cambodia will surely bring down the local rice prices?

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

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

Las Piñas City extends business permit renewal deadline to February 28, 2023

Las Piñas City extends business permit renewal deadline to February 28, 2023

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Recently the City of Las Piñas issued another extension of the local deadline for the renewal of business permits which is now February 28, 2023, according to a Manila Bulletin news report. Previously, the deadline was set for January 31, 2023.

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

The Las Piñas City government extended again the deadline for renewal of business permits and licenses from Feb. 1 until Feb. 28.

Mayor Imelda Aguilar is urging all business owners in the city to avail of the second deadline extension for renewal of business permits, licenses, taxes, and other commercial and industrial fees and charges without penalties and surcharge.

Aguilar said the city government set the first deadline extension for business permit renewal from Jan. 20 to 31 through a City Council resolution.

She said the city government made the move after the Business Permit and Licensing Office (BPLO) noted a high number of business permit registrations and applications.

The mayor said deadline extension until Feb. 28 will also help businesses who have just recovered from the effects of the Covid-19 pandemic.

Aguilar said the extension will also accelerate the city’s collection from business permit renewal and applications.

The mayor is also hoping delinquent businesses can now legalize their operation.

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 find it surprising that the City Government extended the deadline again? Do you know any local business owner who intends to have his or her business permit renewed very soon?

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 at https://www.instagram.com/authorcarlocarrasco

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

Over 200,000 Maynilad customers to get rebates this month

Over 200,000 Maynilad customers to get rebates this month

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If you are a paying customer of Maynilad who got affected by water service interruptions, then you will be receiving a rebate this month as the Metropolitan Waterworks and Sewerage System-Regulatory Office (MWSS-RO) made a big announcement about rebates for over two hundred thousand customers of the water concessionaire, as reported in a recent GMA Network news report.

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

Over 200,000 customers of Maynilad Water Services Inc. in areas served by the Putatan Water Treatment Plants (PWTPs) affected by water service interruptions shall expect a hefty refund in their water bills next month, the Metropolitan Waterworks and Sewerage System-Regulatory Office (MWSS-RO) said Tuesday.

During the public information drive for the affected Maynilad customers, MWSS-RO Technical Regulations Area-Operations Monitoring manager Engr. Joel Dominguez said that the agency “found out during the period December 23 to January 15, there was service level breach in the areas of Parañaque, Muntinlupa, Las Piñas, and Cavite which includes Bacoor, Imus, Noveleta, Rosario, and Cavite City.”

“There are actually 222,221 affected customers during the interruption,” Dominguez said.

The said service interruptions was the subject of the MWSS-RO’s investigation which found that Maynilad violated its service obligation of an uninterrupted 24-hour supply in areas served by the PWTPs.

The water concessionaires’ regulator eventually ordered Maynilad to rebate or refund affected customers in the amount of P27.477 million.

The west zone water concessionaire has since agreed on the rebate program and said it would be best for customers to get the details from the public information drive of the MWSS-RO scheduled this week.

During the public information drive, Dominguez said there are two types of service interruptions.

“One is those who are receiving intermittent supply, meaning there are a number of hours that customers were rendered with low pressure or no water,” the MWSS-RO official said.

“The other type of customers were found to have no water for more than 24 hours,” he said.

Of the total 222,221 accounts or customers affected during the water interruptions, 18,032 accounts were those who experienced no water for more than 24 hours while the bulk or 204,189 were those who experienced intermittent supply.

“We have computed a total penalty for those accounts with no water for more than 24 hours in the amount of P6,794,166.67. Followed by customers with intermittent supply… the computation was P20,673,450.46,” Dominguez said.

The refund shall be reflected in the bills of affected customers next month.

“The rebate for those who were rendered no water for more than 24 hours is at P376.78, while those accounts with intermittent supply of water it’s at P101.30 per water service connection,” Dominguez said.

Let me end this piece by asking you readers: What is your reaction to this new development? If you are a paying Maynilad customer who got affected by water service interruptions in recent times, do you think you are qualified for the rebate of P376.78?

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 and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. If you want to support my website, please consider making a donation. 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 at https://www.instagram.com/authorcarlocarrasco/.

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

Philippines achieves 7.6% economic growth in 2022

Philippines achieves 7.6% economic growth in 2022

carlocarrasco

The Philippines’ recovery from the downturn of the COVID-19 crisis continued strongly as it has been confirmed that the national economy expanded by 7.6% for the entire year of 2022 which includes a 7.2% 4th quarter economic growth, according to a news article by the Philippine News Agency (PNA). Take note that the Philippines is expected to grow between 6.5% and 7% in 2023 according to the national authorities while there are signs that the United States economy will fall into a recession this year. Regardless, the Philippines ended 2022 competitively in terms of economic expansion among its Asian neighbors.

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

The Philippine economy expanded by 7.2 percent in the last quarter of 2022, bringing full-year growth to 7.6 percent, driven by increased economic activity mainly from pent-up demand as it fully reopened amid elevated inflation rate.

National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said among the major emerging economies in the region that have released their fourth-quarter gross domestic product (GDP) growth, the Philippines grew the fastest, followed by Vietnam at 5.9 percent and China at 2.9 percent.   

“Our improved Covid-19 (coronavirus disease 2019) risk management and the easing of mobility restrictions have created a positive economic outlook, boosting economic activity and creating more jobs despite external headwinds,” he said in a briefing on Thursday. 

Balisacan said measures being implemented by the government to further buoy the economy’s recovery are working.

“Our strong economic growth performance for 2022 proves that our calibrated policies and strategies have helped put us on the path to recovery and on track to achieving our aspiration for an inclusive, prosperous, and resilient society by 2028,” he said.

Balisacan said pent-up demand drove growth in the fourth quarter as the economy was fully reopened during the period, with household consumption accounting for around three-fourths of domestic output, and investments contributing around a fifth.

“The improvements in labor market conditions, increased tourism, revenge and holiday spending, and resumption of face-to-face classes supported growth in the quarter, further reflecting a solid rebound in consumer and investor confidence in the economy,” he said.

Balisacan said had it not been for the elevated inflation rate, which rose to its highest since November 2008 last December when it accelerated to 8.1 percent, “growth could have been higher by another perhaps 1 to 2 percentage points.”

“It shows how overall demand is sensitive to inflation,” he added.

In terms of the volume of economic activities, Balisacan said domestic growth has recovered for many sectors, except for others such as tourism.

“(But) in so far as per capital income… we haven’t fully recovered yet,” he said.

Balisacan said the government is firm on ensuring that quality jobs will be available to Filipinos to lessen their need to work abroad.

“Inclusive growth across the archipelago will be our vehicle for reducing poverty incidence from 18 percent of the population in 2021 to a single-digit level by 2028,” he said.

National Statistician Dennis Mapa said 2022 full year GDP growth of 7.6 percent exceeded the government’s 6.5 to 7.5 percent growth assumption for the year and the highest after the 8.8 percent in 1976.

Mapa said the fourth-quarter growth, slower than the 7.6 percent in the previous quarter, was driven by the wholesale and retail trade, repair of motor vehicles and motorcycles, financial and insurance activities and retail estate and ownership of dwellings boosted domestic growth.

He said domestic demand remained strong, with the household final consumption expenditure (HFCE) rising by 2.1 percent quarter-on-quarter, led by the restaurants and hotels, food and non-alcoholic beverages, and miscellaneous goods and services. Year-on-year expansion of HFCE stood at 7 percent.

Among the major economic industries, Mapa said agriculture, forestry, and fishing contracted by 1.7 percent because of the lower output of sugarcane, palay (rice), and poultry and egg production.

Meanwhile, Balisacan said the government is doing pro-active assessment of the current situation to address the elevated inflation rate in the country, which is expected to go back to within the government’s 2 to 4 percent target band by the second half of this year.

He said the government continues to allow the importation of several food items to boost domestic supply, adding that not doing so will hurt both the consumers and domestic growth.

Let me end this piece by asking you readers: What is your reaction to this new development? Do you believe that the economy of the Philippine economy will grow between 6.5% to 7% this year? Do you think that more foreign tourists coming into the country will be able to help the nation achieve its economic growth targets this year? Apart from what was already mentioned, what do you think the national government should do to combat inflation? Do you think that the lower income tax for middle income earners will make a positive contribution to economic growth?

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 and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. If you want to support my website, please consider making a donation. 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 at https://www.instagram.com/authorcarlocarrasco/.

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