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CBC bundles credit, insurance to ease car ownership costs

Chinabank is making car ownership more affordable with its AutoPlus Bundle Promo, offering free first-year comprehensive car insurance, low interest rates, and waived chattel mortgage fees until August 15.

The bundle slashes the steep upfront cash outlays that usually stall Filipino car buyers.

For example, a borrower purchasing a P1.25 million vehicle with a P1 million approved loan saves nearly P29,000 on first-year insurance alone, on top of thousands more from waived chattel fees and reduced interest rates.

Over a term of up to 60 months, these consolidated promotional perks translate to substantial long-term value, allowing a borrower to save up to P300,000 for a P1 million loan.

Meeting the needs of Filipino car buyers

The launch of this promotional campaign comes at a critical time for Filipino consumers, who are increasingly balancing a strong desire for personal mobility against the realities of inflation and elevated costs.

“Purchasing a new car is a major milestone, but the initial out-of-pocket fees can feel overwhelming,” said Chinabank Consumer Lending Group Head Antonio Jose Dominguez.

“With this promo, we took the heavy lifting out of the initial payment phase. These savings extend the magic of owning a new car for our clients.” According to the Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association, vehicle sales fell 15.7% year-on-year in May 2026 as local buyers adjusted their household budgets.

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Despite these headwinds, consumer demand remains resilient, driving a 23.8% month-on-month sales recovery from April as families continue to value vehicle ownership.

Supporting sustainable travel

Data shows that purchasing preferences of local drivers are undergoing a major shift toward sustainable travel. Driven by a desire to lower long-term fuel expenses and reduce environmental impact, Filipino buyers pushed electric and hybrid vehicle sales up by 133.5% during the first five months of the year.

This consumer shift aligns with Chinabank’s strong support for green technology. By making eco-friendly models more accessible, the bank aims to help car buyers lower both their initial acquisition expenses and their long-term environmental footprint.

Terms and eligibility

To qualify, applicants must avail of a minimum AutoPlus Loan amount of P500,000-for the purchase or reimbursement of brand-new vehicles for personal use-bundled with a Chinabank Credit Card and comprehensive insurance through Chinabank Insurance Brokers.

The promo runs until August 15, with a final booking deadline of August 31.

Think beyond borders, own IP from South Asia: WSO2 Founder

WSO2 Founder Sanjiva Weerawarana said Sri Lanka’s technology entrepreneurs must stop thinking small, build globally competitive companies from the region, and retain ownership of their intellectual property (IP) instead of exporting talent.

Speaking during a panel discussion at the launch of National Association of Software and Service Companies’ (NASSCOM) Disha Mentorship Program in Colombo last week, he said the technology industry in South Asia possesses world-class talent, but has yet to fully capitalise on its potential because entrepreneurs, investors, and ecosystems often encourage companies to relocate overseas as they scale.

‘If I were starting today, I would build with a much stronger India-Sri Lanka perspective,’ he said, noting that advances in artificial intelligence (AI) and digital technologies have made national borders far less relevant for software businesses.

Reflecting on WSO2’s own journey, Weerawarana said many doubted that a deep-tech product company could be built from Sri Lanka two decades ago. ‘We proved that it was possible by trusting Sri Lankan talent and building the company here,’ he said.

However, he argued that a persistent mindset still exists across the region that successful founders must relocate to the US to build globally significant companies.

‘I don’t buy that. What it shows is that the raw talent is already here. The issue has never been capability; it is whether we create the opportunities and the confidence to build from our own region,’ he explained.

Weerawarana pointed to the growing global influence of Indian and Sri Lankan professionals, noting that many lead some of the world’s most respected technology companies and academic institutions.

‘The CEOs of Microsoft, Google, and IBM are Indian. The President of Caltech is Sri Lankan. That tells you the talent exists. But, too often, that talent succeeds elsewhere instead of creating value from this part of the world,’ he noted.

He added that South Asia, together with neighbouring regions, represents the world’s economic centre of gravity.

‘India has 1.45 billion people. China has 1.41 billion people. The African region has another 1.5 billion people. Three-quarters of the world’s population is centred around this side of the world, yet we don’t leverage that advantage,’ he observed.

Weerawarana said the region also suffers from a lack of recognition for its own technological successes. ‘Most people can easily name American software companies, but very few can name Indian or regional product companies despite their global impact,’ he said.

Highlighting WSO2’s own footprint, he noted that the company’s software powers digital services used by hundreds of millions of people worldwide, including many government platforms in India. ‘People use our software every day without even knowing it,’ he said.

He also challenged Sri Lankan entrepreneurs and investors to adopt a far more ambitious outlook.

‘Many entrepreneurs think too small. Investors also value companies based on the potential of the local market instead of global opportunities,’ he said.

He said startups often focus on incremental or copycat innovation instead of solving globally relevant problems.

‘With AI, the complexity of solving many problems has fallen dramatically. The potential today is almost limitless, but we are allowing many of those opportunities to slip away,’ he said.

Weerawarana stressed that the region should move beyond simply serving as an engineering base for multinational corporations, and instead build and own globally competitive technology businesses.

‘India has done exceptionally well attracting captive development centres. Every major global software company has engineering operations there. But the value of those companies largely sits elsewhere. If we want to create lasting wealth in this region, we need to own the IP, own the companies, and build them from here,’ he stressed.

He also urged businesses to overcome lingering perceptions that products developed in South Asia are inherently less competitive.

‘If you build something that creates real value and solves important problems, it doesn’t matter where you are located. The borders are becoming increasingly porous because technology removes those barriers. What matters is creating impact,’ he said.

Sri Lanka-India treaty to curb activity driven purely by tax benefits

Sri Lanka and India have amended their Double Taxation Avoidance Agreement (DTAA) to introduce the internationally recognised Principal Purpose Test (PPT), empowering tax authorities in both countries to deny treaty-based tax benefits where one of the principal purposes of an investment or transaction is to obtain a tax advantage rather than support genuine commercial activity.

The amended protocol entered into force on 19 June after both countries completed their domestic legal procedures and has since been notified by Sri Lanka’s Finance Ministry. The revised provisions will apply in India to income derived from 1 April 2027.

The PPT is a key anti-tax avoidance measure developed under the Organisation for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) framework. It allows tax authorities to refuse benefits available under the bilateral tax treaty if it is reasonable to conclude that securing a treaty-related tax advantage was one of the principal purposes of an arrangement or transaction, unless granting the benefit is consistent with the treaty’s object and purpose (https://www.ft.lk/top-story/Govt-in-the-dark-as-FDI-tax-incentives-become-obsolete/26-794423).

The amendment also revises the treaty’s preamble to clarify that the agreement is intended to eliminate double taxation without creating opportunities for non-taxation or reduced taxation through tax evasion or tax avoidance.

For businesses operating between Sri Lanka and India, the changes mean treaty benefits will increasingly depend on whether investments and corporate structures are supported by genuine commercial substance rather than being established primarily to obtain favourable tax treatment.

The revised treaty shifts the focus from merely satisfying technical requirements, such as tax residency and documentation, to demonstrating a legitimate commercial rationale for cross-border arrangements.

The protocol aligns the India-Sri Lanka tax treaty with international tax standards under the OECD’s BEPS initiative and reflects the growing global emphasis on protecting tax revenues while facilitating genuine cross-border trade and investment.

FitsAir renews official airline partnership with LPL for 2026

FitsAir has renewed its partnership with the Lanka Premier League (LPL) as the Official Airline Partner for the 2026 season.

Returning for a second consecutive year, the partnership reflects FitsAir’s continued commitment to supporting national sporting platforms that unite communities, celebrate local talent and strengthen Sri Lanka’s profile on the international stage.

FitsAir Head of Marketing and Communications Shafiya Careem said: ‘The Lanka Premier League has grown into one of Sri Lanka’s premier sporting events, bringing together players, fans and audiences from around the world. We are proud to continue this partnership and support a platform that not only showcases world-class cricket but also strengthens Sri Lanka’s appeal as a destination for tourism, sport and business. At FitsAir, connecting people and creating opportunities remains at the heart of what we do.’

IPG Group Chairman Anil Mohan said: ‘We are delighted to welcome FitsAir back as the Official Airline Partner of the Lanka Premier League. Their continued support reflects a shared commitment to delivering an exceptional tournament experience while helping elevate the league’s international profile. We look forward to building another successful partnership this season.’

The 2026 Lanka Premier League is expected to attract leading international and local cricketers, extensive global broadcast audiences and thousands of travelling fans, reinforcing its position as one of South Asia’s premier T20 tournaments.

FitsAir’s continued association with the tournament aligns with its broader vision of connecting Sri Lanka with the region through affordable, reliable air travel while supporting initiatives that contribute to tourism, economic growth and national pride.

People’s Bank joins 2nd Data Privacy and Protection Summit 2026 as Exclusive Banking Partner

People’s Bank has been announced as the Exclusive Banking Partner for the 2nd Data Privacy and Protection Summit 2026, reinforcing its commitment to safeguarding customer data and leading the financial sector’s compliance with Sri Lanka’s Personal Data Protection Act (PDPA).

The Summit, organised by CICRA and the Daily FT, will take place on 23 July at the Oak Room, Cinnamon Grand Colombo.

As the nation’s trusted financial partner, People’s Bank processes vast amounts of sensitive personal and financial information across its extensive network.

Data protection is not merely a regulatory requirement but a cornerstone of the trust that millions of Sri Lankans place in the bank. With the PDPA enforcement drawing nearer, People’s Bank is taking proactive steps to ensure its robust security and privacy frameworks evolve to meet the new legal and ethical standards, positioning itself as a leader in data governance within the financial sector.

The 2nd Data Privacy and Protection Summit 2026 provides a vital platform for understanding the evolving landscape of privacy, security, and compliance, particularly as Artificial Intelligence (AI) enablement transforms the threat landscape. The partnership underscores People’s Bank’s proactive approach to protecting its customers and its role as a responsible data controller under the imminent PDPA. By joining the Summit, the bank signals its commitment to learning from global best practices, including AI-driven solutions like Concentric AI, and building a proactive defence strategy that protects the integrity of the nation’s financial ecosystem.

CICRA Group Director/CEO Boshan Dayaratne said: ‘We are happy to welcome People’s Bank to the 2nd Data Privacy and Protection Summit as our Exclusive Banking Partner. In today’s digital economy, data is the new currency. For a commercial bank, robust data protection is not optional; it is the bedrock of customer confidence and operational integrity. We appreciate People’s Bank for taking this initiative and for demonstrating foresight in preparing for the PDPA. Their presence elevates the Summit, bringing the critical perspective of Sri Lanka’s banking sector into the national conversation on data privacy.’

People’s Bank CEO/GM Clive Fonseka said: ‘At People’s Bank, we have always upheld the highest standards of security and privacy-values that are fundamental to our service. As we approach the full enforcement of the PDPA, we are committed to going beyond compliance to lead by example. Joining the 2nd Data Privacy and Protection Summit as the Exclusive Banking Partner aligns with our mission to protect the personal and financial data of our customers. We look forward to collaborating with industry experts and policymakers to ensure our practices not only meet regulatory requirements but also reinforce the trust that defines our relationship with the people of Sri Lanka.’

Both Government institutions and private sector organisations have a shared responsibility in protecting citizen and customer data. With PDPA enforcement imminent, public sector data controllers and private enterprises alike must act now to avoid penalties, reputational damage, and security breaches. This Summit offers a unique opportunity to learn from global AI-driven solutions like Concentric AI, understand regulatory obligations, and build a proactive defence strategy.

Registration is now open, with participants invited to register via www.cicrasummit.lk. All Data Protection Officers, IT security professionals, Government officials, and business leaders are encouraged to attend.

Why Britain is getting a new prime minister without a general election

Veteran Labour Party politician and popular former Greater Manchester mayor Andy Burnham is set to become Britain’s next prime minister on Monday, formally taking over from Keir Starmer, who announced his resignation last month.

Burnham was the only candidate to secure enough support from his fellow Labour lawmakers to replace Starmer as leader of the governing party. Because Labour holds a majority in government, its leader also becomes the U.K. prime minister.

Burnham received support from 349 out of 401 Labour Party lawmakers, and was announced Labour leader at a special party conference on Friday. He didn’t officially become prime minister right away, though-that happens on Monday, when he meets King Charles III at Buckingham Palace for a formal go-ahead. Until then, Starmer remains caretaker prime minister.

A look at how and why Britain is getting a new prime minister just two years after Starmer led his party to a landslide election victory:

Why is there a change of leader without a general election?

Britain’s parliamentary democracy allows governing parties to change leaders midterm, with the winner becoming prime minister without the need for a general election. Prime ministers can be replaced if one has resigned as leader of their party, or been forced out by a leadership challenge.

The next national election does not have to be held until 2029, five years from the last election in 2024.

Starmer announced he was quitting as Labour leader on June 22 after barely two years in power, ending a tenure marred by a series of political missteps-most notably his decision to appoint a man with close ties to the late sex offender Jeffrey Epstein as Britain’s ambassador to the United States.

Heavy losses suffered by Labour in a midterm set of local elections in May prompted many lawmakers to demand Starmer’s resignation. And when Burnham-favored by many within Labour to lead the party and the country-won a special election for a seat in Parliament, Starmer gave in to the mounting pressure to quit.

His resignation automatically triggered a Labour leadership contest. Under Labour rules, a lawmaker can challenge the leader if they have the backing of a fifth of the party’s House of Commons lawmakers. There was no other contestant other than Burnham, who comfortably surpassed that threshold.

Burnham will be the 7th prime minister in a decade

It’s not unusual for prime ministers to come to power without a broad election under Britain’s parliamentary system. In fact, four of the six British prime ministers in the past decade took the top job by winning internal party leadership contests to replace their predecessors, not by public vote.

In the 2010s, both Theresa May and Boris Johnson became prime minister after winning Conservative leadership races when their predecessors resigned midterm.

When Johnson announced he was quitting in 2022, the Conservatives held a leadership contest and the party’s members chose Liz Truss to replace him. And when Truss stepped down, just 49 days later, she was in turn replaced by Rishi Sunak via a similar process.

Burnham will thus become the seventh prime minister in a turbulent decade of U.K. politics, marked by a rapid succession of leaders who all, to some extent, failed to successfully manage the messy aftermath of Britain’s decision to divorce from the European Union.

Power changes hands in a well-rehearsed ritual

After years of leadership churn, the sequence of traditional events involved in the transfer of power has become familiar for many in Britain.

On Monday, Starmer will say his farewell speech to the public before going to Buckingham Palace to hold a short meeting with the king and formally resign.

After Starmer leaves, it’s Burnham’s turn to arrive at the palace, where Charles will formally ask him to form a government. The private ceremony is known as the ‘Kissing of Hands,” in accordance with historic tradition, though no hands are actually kissed and the men are more likely to shake hands.

When Burnham leaves the palace he will have become the 59th person to hold the office of British prime minister. He then rides in a car to his official home at No. 10 Downing Street, where he is expected to make his first statement in office.

The whole sequence is typically broadcast live on television-and will be over within hours.

As Red Sea risks grow, Middle Corridor becomes Eurasia’s most strategic trade route

The shifting sands of global geopolitics have once again thrust the maritime choke points of the Middle East into the center of international anxiety. For decades, global energy markets and military strategists viewed the Strait of Hormuz as the ultimate geopolitical trigger-a narrow body of water where any direct confrontation between Iran and the United States could instantly paralyze the global economy. Yet, as tensions between Washington and Tehran flare up with renewed intensity, the theater of naval vulnerability has expanded dramatically. The strategic calculus of international trade is no longer confined to the threat of Iran sealing off the Persian Gulf; instead, a far more complex and asymmetric threat has fully matured further south, at the Bab al-Mandab Strait.

This expansion of the conflict zone is not merely a geographic shift, but a technological transformation driven by the changing nature of modern warfare. The ongoing war in Ukraine and the persistent skirmishes across the Middle East have served as a real-world testing ground for a new era of combat defined by the proliferation of cheap, mass-produced drones and loitering munitions. The chilling lesson from these conflicts is that traditional, multi-million-dollar air defense systems are fundamentally ill-equipped to handle swarms of low-cost unmanned aerial vehicles. Navies built around massive, heavily armored vessels now find themselves struggling against asymmetric threats that cost a fraction of a single interceptor missile.

It is this technological asymmetry that gives the Houthi rebels in Yemen the leverage to credibly threaten a total blockade of the Bab al-Mandab. Operating with sophisticated drone technology and intelligence sharing from regional allies, the Houthis have demonstrated that controlling a vital global shipping lane no longer requires a blue-water navy or advanced fighter jets. By exposing the vulnerabilities of standard maritime defense grids, they have effectively proven that the Bab al-Mandab can be shut down at a whim. The psychological impact of this reality has already rippled through the global logistics industry. Fearing catastrophic losses, a vast majority of international shipping conglomerates have abandoned the Red Sea route altogether, opting instead for the lengthy, costly circumnavigation around the Cape of Good Hope at the southern tip of Africa.

As the traditional maritime arteries of East-West trade choke under the pressure of war and instability, the global economy is being forced to adapt. It is precisely within this vacuum of security that the Trans-Caspian International Transport Route, widely known as the Middle Corridor, is transitioning from a visionary regional project into an indispensable pillar of global supply chain resilience. Stretching from China through Kazakhstan, across the Caspian Sea to Azerbaijan and Georgia, and onward to Turkey and Europe, this land-and-sea network offers exactly what the maritime routes currently lack: stability, safety, and predictability.

The significance of the Middle Corridor increases exponentially with every drone strike in the Red Sea and every spike in naval war insurance premiums. With the Northern Corridor through Russia largely unviable for Western corporations due to enduring sanctions and political isolation, and the Southern maritime route plagued by the volatile dynamics of the Bab al-Mandab and Hormuz, the Middle Corridor stands out as the most secure bridge between the world’s manufacturing hubs in Asia and its primary consumer markets in Europe.

Furthermore, the logistical math is tilting in the Middle Corridor’s favor. While bypassing the Bab al-Mandab by sailing around Africa adds thousands of miles and roughly two weeks to a vessel’s journey-inflating fuel costs and disrupting just-in-time manufacturing schedules-the Middle Corridor offers a highly competitive transit time. Ongoing investments in digitalizing customs procedures, expanding port capacities in Baku and Aktau, and upgrading the Baku-Tbilisi-Kars railway have systematically eliminated historical bottlenecks.

Ultimately, the escalating friction between Iran and the West is rewriting the geography of trade. The vulnerability of maritime choke points to cheap drone warfare means that the era of relying entirely on vulnerable ocean passages is drawing to a close. In this new world order, where security is the ultimate currency, the Middle Corridor is no longer just an alternative; it is becoming the definitive anchor of Eurasian commerce.

Zeepay assures customers of responsible wind-down after licence revocation

Zeepay Ghana Limited has assured customers, agents and business partners that it is working with the Bank of Ghana (BoG) and other stakeholders to ensure an orderly and transparent wind-down of its mobile money operations following the revocation of its Dedicated Electronic Money Issuer (DEMI) licence.

The assurance comes a day after the Bank of Ghana withdrew the fintech company’s licence with immediate effect, citing repeated regulatory breaches, including failures to maintain adequate cash backing for electronic money issued, comply with directives to protect customer funds, and implement an earlier order to wind down its e-money business.

In a public statement, Zeepay acknowledged the regulator’s decision, saying it was committed to handling the process responsibly.

‘Zeepay Ghana Limited is working closely with the Regulator and all relevant stakeholders to ensure an orderly, transparent and responsible approach following the revocation of the Company’s Dedicated Electronic Money Issuer Licence,’ the company said.

The fintech firm also appealed for calm among its customers and partners, saying it understood the concerns the development may have created.

‘We recognise the concerns that this development may cause and sincerely appreciate the patience, understanding and continued cooperation of our customers, employees, agents, merchants, partners and the wider public during this period,’ the statement added.

Zeepay said it remains committed to acting responsibly throughout the transition while maintaining open communication with regulators and stakeholders.

The company also urged the public to rely only on verified information, noting that further updates would be released through its official communication channels as they become available.

The Bank of Ghana announced the licence revocation on July 14, saying the action was necessary to protect customers and preserve confidence in Ghana’s digital payments ecosystem.

According to the central bank, examinations revealed that Zeepay repeatedly breached key regulatory requirements by issuing electronic money without maintaining sufficient liquid assets to fully back customer balances. The regulator also said the company failed to comply with several directives aimed at restoring adequate funding and safeguarding customer, merchant and agent funds.

The BoG said the continued violations posed significant risks to consumers and the stability of the country’s payment system, prompting the decision to revoke the licence with immediate effect.

The development marks one of the strongest regulatory actions taken against a fintech company in Ghana’s rapidly growing digital financial services sector.

Zeepay has been one of Ghana’s prominent fintech operators, providing mobile money wallets, international remittance services and digital payment solutions to individuals and businesses. Its services have played a significant role in facilitating cross-border money transfers and expanding financial inclusion.

While the company has pledged a responsible wind-down, it has yet to provide detailed guidance on how customers will access or transfer funds held in affected mobile wallets.

The case underscores the increasing focus by African financial regulators on protecting customer funds and enforcing stricter compliance standards as digital financial services continue to expand across the continent.

The Bank of Ghana has advised affected customers to contact Zeepay through its official support channels for assistance while the transition process continues.

1 agency, 2 heads: Tinubu’s directive doesn’t stand, says Wike’s ally

By Afeez Hanafi, Dalhatu Liman (Abuja) and Mumini Abdulkareem (Ilorin)

The embattled Executive Secretary of the Border Communities Development Agency (BCDA), Dr Dakorinama Alabo George, has said that President Bola Ahmed Tinubu’s directive to appointees, who aspired for elective positions, to resign ahead of primaries, ‘does not stand.’

Tinubu had directed all his appointees, who intended to contest elective offices in 2027, to resign on or before March 31, 2026.

George, who was Commissioner for Works in Rivers State during the administrations of former Governor Nyesom Wike and Governor Siminalayi Fubara, had reportedly resigned from the BCDA to contest the All Progressives Congress (APC) governorship primary in the state. He, however, withdrew from the contest held on May 21, 2026 at the last minute.

The Presidency had announced his replacement with a former spokesperson of the House of Representatives, Abdulrazak Sa’ad Namdas, in a statement dated June 26, by a presidential spokesman, Bayo Onanuga.

But nearly one month after the announcement, George has remained in office as the head of the agency, insisting that Namdas’ appointment was an error and that he never resigned.

‘The Presidency through the office of the SGF will be in a better place to answer you pls,’ he had said in a now-deleted WhatsApp response.

Onanuga had faulted George’s claim in a terse response to Daily Trust, saying, ‘Not true. Namdas stays.’

He has not responded to an inquiry on why George remains in office, despite the new appointment.

Amid the impasse, George continues to hold official engagements as the BCDA head, among which was a recent meeting with the Minister of Finance and the Coordinating Minister of the Economy, Mr Taiwo Oyedele, in Abuja, where he appealed for timely budget releases to the agency.

Sources had told our correspondent that George was being backed by some persons within the Presidency and powerful individuals, including the Federal Capital Territory Minister, Wike.

Efforts to get the minister’s comment on the claim were unsuccessful as his spokesperson, Lere Olayinka, did not respond to an inquiry sent to him.

Last Tuesday, a day after Daily Trust’s publication on the matter, George reached out to one of our correspondents via WhatsApp, commenting on the report.

‘I have my appointment letter to the office and no one else does so there’s no dual leadership,’ he wrote, adding a subtle threat. ‘Just be careful about your misleading stories so it doesn’t end in litigation.’

‘This will be my last discussion with you on this subject matter,’ he noted.

When asked if he resigned before he picked nomination forms for the governorship primaries, he said, ‘Don’t you know where to find out? Don’t chat me up again.’

Directive doesn’t stand, law does – George

A few minutes later, George sent another WhatsApp text to Daily Trust, citing Section 88(1) of the Electoral Act, ostensibly to justify his stay in the office despite the President’s directive.

‘On a final note, just to educate you, let me help you with this: Section 88(1). Key Points on Resignation Timing: This provision effectively requires political appointees to resign before participating in primaries (as aspirants or delegates) to avoid violating the law. However, it does not mandate a specific timeline like ‘at least 30 days’ or ‘one day before,” he wrote.

He further argued that legal interpretations – including from lawmakers – and expert commentary indicated that resignation can occur anytime before the primaries, ‘including potentially the day before or ensuring they are no longer in office on the day of the event.’

George said the law is particular about not holding the appointment during participation on the day of the primaries.

‘So if you withdraw from contesting a day before the primaries, you don’t need to resign. But if you’re really contesting you must resign at least a day before the primaries. The law didn’t say resign before picking forms. The law is the law and anything outside the law (even a directive) does not stand.

‘So technically there was no vacancy. Someone erroneously misinformed the Presidency that there was a directive and an announcement was made but when they found out that there was no resignation it was quickly corrected,’ he stated.

Tinio: Where are other ‘big fish’ in flood works investigation?

Despite the arrest of an incumbent senator, a former senator and a former Cabinet secretary, there are still other ‘big fish’ allegedly involved in the public works scandal who should be joining them in jail.

This was the assessment of Deputy Minority Leader and ACT Teachers Rep. Antonio Tinio, who criticized what he called the Marcos administration’s ‘selective prosecution’ in the multibillion-peso kickback scheme involving flood mitigation structures, saying the ‘principal architects’ remain scot-free.

‘There is selective prosecution and selective accountability, based only on whether one is an ally or an opponent of the administration … and that is the prevailing public perception today,’ Tinio said in a statement in Filipino. ‘Those jailed bear responsibility, but the public believes they are not the most accountable for the flood control corruption.’

‘The crucial question now is what if the biggest fish is President Bongbong Marcos himself?’ he asked.

Tinio cast doubts on the administration’s crackdown, noting that those who have been detained appear not to be allies of the Marcoses.

Arrests limited to few

In his fourth State of the Nation Address last year, Mr. Marcos exposed a massive corruption scheme where politicians, state engineers and private contractors colluded to siphon public funds through substandard or nonexistent projects-a scandal that has since emerged as his administration’s biggest challenge.

READ: Blue ribbon panel to resume flood control probe after Sona

Arrests have so far been limited to a few, such as Sen. Jose ‘Jinggoy’ Estrada, former Sen. Ramon ‘Bong’ Revilla Jr., contractor-couple Curlee and Sarah Discaya and several engineers from the Department of Public Works and Highways (DPWH).

Tinio said top officials, including former Speaker Martin Romualdez, the President’s cousin, and Sen. Francis ‘Chiz’ Escudero, who was Senate President when the scandal erupted, have largely been spared even as they remain under investigation by the Sandiganbayan.

Even former Cabinet members, including ex-Budget Secretary Amenah Pangandaman and the former head of the Presidential Legislative Liaison Office, have escaped the fallout, along with former DPWH Secretary Manuel Bonoan, who has since turned state witness, he added.

Tinio said the absence of charges against top officials may point to a more sinister possibility-the graft scandal reaches all the way to the President, and shielding his allies is meant to keep him from being dragged into the mess.

‘Under the President’s leadership, they should be held primarily accountable. Yet they are not being charged-first, because Marcos must protect his allies; and second, because he must protect himself,’ he said.

Romualdez’s side

In a separate statement, Romualdez’s lawyer said the former Speaker was prepared to face the complaints that the Office of the Ombudsman may file against him.

Lawyer Ade Fajardo, however, pointed out that there has been no evidence implicating Romualdez in the scandal, despite claims he helped channel funds to dubious projects in the annual budgets when he was still House leader.

‘There is truly no proof or evidence against him in the flood control anomalies. There is not even a preliminary investigation yet, as the case remains in buildup status,’ he said in Filipino.

Ombudsman Jesus Crispin Remulla said last Friday his office was ‘very close’ to filing plunder charges against Romualdez.

‘The former Speaker is not evading accountability in facing all of this. He voluntarily stepped down as Speaker to give way to the investigation,’ Fajardo said.