Category: Business Mirror

I remember the exact moment I started to doubt the Senate Blue Ribbon Committee. It wasn’t during the hearings themselves-those dramatic exchanges I followed on television, shaking my head at the staggering figures. It wasn’t even when the first news broke about the flood control funds, money meant for dikes and drainage systems that apparently washed away into thin air.

No, my disappointment crystallized in April 2026, when I read that Chairman Lacson had suspended hearings indefinitely. Not because the investigation was complete. Not because justice had been served. But because they couldn’t get enough signatures.

Eleven signatures. That’s all it takes for a committee of 17 senators to issue a report. Eleven people to agree that the evidence gathered-the documents, the testimony, the paper trail of ghost projects and fictional flood control structures- deserves to see the light of plenary debate. As of mid-April 2026, only four had signed: Lacson, Hontiveros, Pangilinan, and Aquino. Let that sink in. Seventeen senators sat through hearings, listened to witnesses, reviewed the evidence that allegedly implicates three of their own colleagues, and yet only four were willing to put their names on paper.

I am a taxpayer. My money flows into the national treasury. I watch roads crumble while new infrastructure projects are announced with fanfare. I pay for flood control systems that, apparently, exist mostly on paper. And now I am asked to accept that the people I elected to investigate this cannot muster the simple administrative act of signing a document? One senator says she won’t sign unless there is a ‘complete and thorough investigation’ first. But the hearings happened. Witnesses testified. Evidence was presented. What she means, I suspect, is that the investigation didn’t go far enough in directions she would have preferred-or perhaps went too far in directions that made her uncomfortable. Other majority senators reportedly found the draft report ‘weak’ and ‘lacking,’ preferring to introduce amendments on the floor. But the floor can only debate what the committee sends up. And the committee cannot send anything up because they won’t sign.

There is even a rival minority report – 576 pages, I am told, produced in December 2025. Chairman Lacson dismissed it as having ‘no standing under Senate rules.’ Whether he is correct or not, the very existence of competing reports tells me everything I need to know: this is not about truth-finding anymore. This is about positioning, about protection, about the unspoken code that binds senators to one another even when the public trust demands they break ranks.

The Philippine Constitution is not ambiguous. Article XI, Section 1 declares that ‘Public office is a public trust.’

Now I wonder whether our senators ever truly believed in their oath of office at all.

I respect the office. I respect the institution. But respect is not a suicide pact, and my patience as a concerned taxpayer is not infinite. When Chairman Lacson floats the idea of a ‘Chairman’s Report’ directly to the Ombudsman-bypassing the committee altogether-I feel a flicker of hope. At least the evidence might not rot in a folder somewhere. At least someone is trying. But the fact that this workaround is even necessary is a condemnation of the entire process.

A group of lawyers filed a Supreme Court petition in March 2026 to compel the release of the draft report. Think about that: citizens had to go to the highest court in the land to force an elected body to share the findings of its own investigation into taxpayer money. Money we earned, we sweated for, we entrusted to them.

I do not know if some implicated senators are guilty. I have not seen the evidence myself. But that is precisely the point: neither have I seen the report that supposedly recommends preliminary investigation. The very document that could begin the process of accountability-for them or for anyone else-is trapped behind a wall of missing signatures, procedural objections, and what looks to my cynical eye like quiet protection. How many more months will pass? How many more floods will come, and how many more Filipinos will wade through waist-deep water while we wait for 11 people to pick up a pen?

I am a taxpayer. I am one of millions. And I am tired of being told that accountability is complicated, that justice takes time, that we must respect the process. The process is broken. The signatures aren’t coming. And the only thing flooding right now is my disappointment.

What troubles me most is this: a room full of senators, seated in the same hearings, confronted with the same evidence, listening to the same testimonies-yet emerging with conclusions so utterly opposed. The facts do not bend to the beholder, and truth does not splinter into convenience. So why do their judgments diverge so sharply? The answer lies not in what was seen or heard, but in what each was willing to accept. The difference is not in the evidence, but in the conscience-or the lack thereof.

In the private sector, we have given what we can: our effort, our coordination, our resolve. At the Federation of Philippine Industries, we stand with the Bureau of Customs and other agencies, not as bystanders but as partners, pushing back against smuggling and all forms of illicit trade. We are not merely fighting crime-we are helping build a nation. If only our senators would do the same: rise above self-interest and act for the country’s soul. If only their conscience would speak louder than political calculus-sign the report, bare the truth, and let justice, however painful, run its course. But silence and delay have their own weight. And so all that remains for me is to pray-not out of weakness, but out of hope-that righteousness finally finds them. Because in the end, as the old Tagalog song reminds us, ‘Tanging Diyos lamang, ang nakakaalam.’ Only God knows. And perhaps, in time, so will the people.

The way we learn has changed over the recent years. Modern education has moved away from old, heavy textbooks into a world of digital tools, such as smartphones, tablets, laptops and desktop computers.

Digital tools make learning more interesting and effective by giving students easy access to information at their fingertips.

Instead of reading from old textbooks that cost the government billions of pesos to produce, students can use videos, games and apps to understand difficult topics. Information from textbooks can also be designed into digital data, complete with infographics and even videos. These tools help students work together on projects from anywhere, teaching them how to use technology responsibly. This means that learning today is no longer confined to a desk. It is possible by using the internet to explore vast fields of knowledge.

While digital learning is exciting, it has also created a new problem. Many students are being left behind because they cannot afford the technology they need.

While some children attend classes with the latest laptops and high-speed internet, others, particularly in remote public schools, are forced to share a single old smartphone among siblings or walk miles just to find a reliable Wi-Fi signal. This ‘digital divide’ has become a wall that keeps talented but underprivileged students from reaching their full potential.

To address this, we filed Senate Bill No. 2048, or the Boosted Technology Subsidy (BTS) for Students and Learners Act. The proposed measure aims to make sure every Filipino student has the tools to succeed in the modern age.

In the past, students had to memorize facts from a single book. If the book was old, the information was outdated. Now, digital tools make learning more active, with real-time information. Students can also watch high-quality videos that explain difficult subjects. Digital tools also facilitate interactive learning. Classmates from different locations can work on the same project at the same time using the internet.

This is how people work in modern offices today. By using digital tools in schools, students are getting ready for their future jobs. They are learning ‘digital fluency,’ which means knowing how to use technology well and responsibly.

While technology is exciting, not everyone can use it. Digital divide is like a wall that stands in the way of poor students.

Some of them have to walk long distances just to find free Wi-Fi in a park or a library. According to the Second Congressional Commission on Education (EDCOM II), this is a major problem in the Philippines.

This is where SB 2048 comes in.

Having a computer and internet should not be a ‘luxury,’ but a basic right for learners. The bill focuses on people who need help the most, including students in public schools, learners in state universities and colleges and students in Alternative Learning Systems.

By helping these students, the government is investing in the future of the country. If the youth are tech-savvy, the whole Philippines becomes more competitive in the world stage.

Under SB 2048, students will receive digital tools from the government and the private sector. The BTS Act offers a ‘subsidy’ of up to P30,000 to buy a laptop or a tablet. This is enough to get a reliable machine that won’t break down easily.

The bill also provides pocket Wi-Fi devices and a monthly allowance to pay for data. This means students can study from the safety of their homes. The bill will also provide students access to artificial intelligence (AI) tools.

These programs can help students do research faster and understand difficult topics more clearly, leaving them more time to practice critical thinking.

To prevent abuse, the bill provides strict rules to make sure money isn’t wasted.

For example, it is illegal to sell or give away the laptop the government provides. These devices are for learning, and they should stay with the student until they finish their education.

The bill also counts on the support of the private sector.

Through the Adopt-A-School Act, companies that donate computers or internet services to schools can get tax incentives.

This creates a partnership where the government and big businesses work together to help the next generation.

When we provide students these digital tools, we are not just giving them gadgets. We are building them a bridge to a better life.

Technology should not be a wall that divides the rich and the poor. Instead, it should be a door that opens up a world of opportunities for all.

I believe that once enacted into law, this bill will help improve Philippine education and foster an inclusive economic growth that benefits everyone.

WARNING that the Middle East crisis has heightened instability in global energy markets, Sen. Sherwin Gatchalian on Tuesday called for the accelerated implementation of the Asean (Association of Southeast Asian Nations) Petroleum Security Agreement (Apsa).

The country, he said, is in a prime position to lead the region toward energy resilience, being this year’s Asean Summit host. It should place the operationalization of Apsa at the top of the agenda to shield member states from potential supply shocks.

One intervention he cited is the Coordinated Emergency Response Measures (CERM), where Asean member states shall endeavor to supply petroleum to any member state facing a critical shortage of at least 10 percent of normal domestic needs for 30 straight days. ‘The ongoing conflict in the Middle East highlights just how easily external shocks can compromise our energy supplies, threatening the economic growth of ASEAN member states,’ said Gatchalian, chairman of the Senate PROTECT ad hoc committee.

Signed in 2009, Apsa employs the principle of mutual aid and assistance among Asean member states during times of energy emergency to stabilize petroleum supply.

‘As host of the Asean Summit this year, we have a platform to activate this long-inactive agreement,’ he said, speaking mostly in Filipino.

THE Aboitiz-led Union Bank of the Philippines (Unionbank) partnered with the central bank and the ATRAM Trust Corp. to digitize the Personal Equity and Retirement Account (PERA) ecosystem.

By embedding this voluntary retirement program into its core mobile application, Unionbank is positioning itself as a leader in long-term wealth solutions, leveraging average total cost fund management expertise and the central bank’s regulatory framework to streamline the customer onboarding journey, a statement issued by the lender read.

With the evolving economic landscape, government-mandated pension programs such as the Government Service Insurance System (GSIS) and Social Security System (SSS), as well as employer-provided retirement plans, may not always be sufficient to meet future needs, according to the lender. The PERA offers an additional layer of financial support, empowering customers to take a more proactive approach to financial planning-whether for retirement, long-term goals, or added financial security. According to Unionbank, it has created a ‘fully-digital PERA experience that allows customers to open an account without filling out lengthy forms or uploading multiple documents.’ Once onboarded, customers can begin growing their long-term and retirement savings through investment products accredited by the Bangko Sentral ng Pilipinas.

The lender said ATC will play an administrative role providing customers with a range of investment products to choose from.

The announcement on the PERA integration came after Unionbank disclosed last Monday of having posted a net income of P3.8 billion in the first three months of the year, more than double from the previous year’s P1.43 billion. The bank said it was able to continue with the momentum that started in the second half last year, when it saw a significant earnings uptrend, despite some trading losses arising from market volatility associated with the Iran conflict.

Last week, Unionbank was flagged by Moody’s Ratings as being more exposed to risks arising from ‘shrinking’ financial buffers of retail borrowers amid higher inflation.

Moody’s Ratings said last Monday that UBP had the largest share of retail loans among its rated Philippine banks at around 60 percent of its total loans, while unsecured retail loans accounted for around 40 percent of its total loans. ‘We view the latter as a relative weakness because this asset class has underperformed compared to corporate loans,’ said Moody’s Ratings.

RESURGENCE marked the boys’ division while sheer domination defined the girls’ side as Zoji Edoc and Tristan Padilla led their respective divisions in the International Container Terminal Services Inc. John Hay Junior Philippine Golf Tour (JPGT) Championship Tuesday at the quaint yet punishing John Hay Golf Club in Baguio City.

Edoc seized control in the boys’ 7-10 category with a blistering three-under 66, building a four-shot lead over Summit Point leg winner Zach Guico.

The rising star from Taytay surged early, firing six birdies over the first 10 holes as he deftly navigated the course’s uphill climbs and downhill drops, where club selection and touch became crucial in the thin mountain air. ‘This leg is especially important given the strength of the field, and I’m doing everything I can to come out on top,’ said Edoc, who appeared more nervous answering questions than tackling the John Hay challenge.

‘I struggled with my approach shots and putting at Summit Point, but I’ve managed to improve in those areas here,’ he added.

Guico, who drubbed Edoc by five shots at Summit Point, threatened early by birdying three of his first eight holes. But the mountain course struck back. Four bogeys over his last seven holes derailed his charge, leaving him with a 70 and trailing Edoc by four shots heading into the final round of the 36-hole tournament.V’I don’t try to predict where I’ll finish. My focus is simply on posting the best score I can,’ said Padilla, who is also banking on his familiarity with the layout, having played in the annual Fil-Am Invitational three times. ‘I know my way around this course.’

Geoffrey Tan also hit a late birdie on No. 8 to tie Suzuki at second, while David Serdenia birdied the ninth to turn in a 73 for fourth.

In the boys’ 11-14 category, Summit Point leg winner Vito Sarines shot three birdies against two bogeys in the last nine holes to fire a 68, five shots clear of Jacob Casuga, who carded a 73. Chan Ahn, who edged Sarines at Mount Malarayat but fell short at Summit Point, recovered from a frontside 40 with an even-par 34 in the last nine holes for a 74 with Javie Bautista posting a 75 for fourth heading to the final round of the 36-hole tournament.

Such is the reputation of the Philippines as a global powerhouse of beauty that a delegate from faraway Paraguay opted to do her Miss Universe 2026 preparation in the country.

Based on air travel, the distance between the Philippines and Paraguay is approximately 18,835 kilometers (11,704 miles), yet the gorgeous Gretha Matiauda made the long trip to gear up for her most important pageant journey.

‘I was dreaming for this moment. I have to give my best and I feel really prepared to do that because I love Miss Universe since I was five years old. And I think it’s a platform that gives you power to help each other and also I think it’s a platform to empower other women and also to increase your career,’ Gretha intimated at her special meet-and-greet with Manila media on April 25 in San Juan.

Gretha, 25, has modeled internationally, and is currently finishing her thesis in Economics at the National University of Asunción. She released her debut single, ‘Bonita,’ in 2022.

Her intensive training here is a collaboration between her pageant organization, Promociones Gloria, and the House of Yugen, led by national director and Miss Universe franchise owner for multiple countries, Josh Yugen.

Statuesque and stunning, Gretha is no stranger to international pageants. She was the fourth runner-up at the Miss United Continents 2022 in Ecuador, won by Joanna Camelle Mercado of the Philippines. She also competed at Miss Earth 2023, won by Drita Ziri of Albania and where our Yllana Aduana was Miss Earth-Air 2023.

Paraguay at Miss Universe

Gretha’s predecessor, Yanina Gómez, also trained with Filipino pageant experts for her Miss Universe 2025 bid, where she placed in the Top 30.

With an estimated 6.4 million people, Paraguay as a developing country is also striving to gain a foothold in the field of pageantry. Under the Miss Paraguay pageant, Distrito Capital’s Miriam Riart Brugada placed in the Top 15 of Miss Universe 1964 while Vivian Rosana Benítez Brizuela, also of Distrito Capital was in the Top 10 in 1991.

Under Miss Universo Paraguay, Yanina Alicia González Jorgge placed third runner-up in 2004; and in 2006, Lourdes Verónica Arévalos Elías replicated that feat. Under Reinas de Belleza del Paraguay, Nadia Tamara Ferreira posted her country’s highest placement at Miss Universe, achieving a first runner-up placement in 2021.

Gretha’s Global Perspective

Paraguay’s official languages are Spanish and Guarani. Gretha’s measured yet confident delivery in English to the media interviews makes her more endearing. She shared some of her thoughts:

‘The most passionate I am about is about empowering other women because I think women are the head of the family. In Paraguay, we have many, many women that suffer violence and need independence. As an economist, I dream, I think that I am able to bring the opportunity to experience new jobs, new opportunities. Through my foundation, I want to help them. I do a lot of charity because I love children. I have three little brothers and I love them.

‘So, I love animals, too

‘I want to use my voice. I especially create a podcast that is called Voces Que Sanan (Voices That Heal). We interview many women that are facing violence. We empower them through education because we have a lot of support in Paraguay and also with the government because I work now with the Minister of Women in Paraguay. ‘I really appreciate it because you don’t need a crown to do that. I do that since 2020, so a long time ago. But now, I feel more empowered, more like a woman, so I feel more the mission now.

‘As an economist, I would make a global impact [by proposing policies that help solve the oil crisis]. I want to change the dependence of the oil, by improving and investing in clean energy, like wind and solar energy. I think every crisis is an opportunity to improve and to be better. So, let’s do that.

‘As an economist, as an entrepreneur and as an international model, I have many things to offer. I have a very good perspective because I am an entrepreneur and I know how to keep pushing and moving forward no matter the situation. I want to improve not only for me but also for the Miss Universe brand and all the fans around the world. Thank you!’

Senator Mark A. Villar highlighted the growing impact of the Anti-Financial Account Scamming Act (AFASA), citing recent arrests and convictions as clear proof that the law is effectively being enforced to combat online financial crimes and protect Filipino consumers.

‘As the Principal Sponsor and Author of the AFASA Law, I am encouraged that we are now seeing real and measurable results-leading to actual arrests, stronger case build-ups, and successful convictions,’ Villar said.

‘Mas napapabilis ang pagresponde sa mga reklamo, at mas napapalakas ang ebidensya laban sa mga kriminal. Ito ang uri ng proteksyon na kailangan ng ating mga kababayan sa digital age,’ dagdag pa niya.

Recent operations highlight how AFASA is being implemented on the ground.

According to the Philippine National Police Anti-Cybercrime Group (PNP-ACG), more than 90 individuals have been arrested since January this year for engaging in money muling activities, including the illegal sale of ATM cards, e-wallets, and other financial accounts used in fraudulent schemes.

In February, the National Bureau of Investigation (NBI) apprehended 20 foreign nationals involved in social engineering schemes, where perpetrators impersonate other individuals to defraud victims-an offense penalized under Section 4(b)(1) of AFASA.

A significant milestone was reached in April 2026, when four individuals were convicted by a Regional Trial Court for violating Section 5(d) of the law, marking one of the early successful prosecutions under AFASA.

‘Malinaw na epektibo ang AFASA sa laban kontra online scams. May pangil na ang batas-hindi na basta nakakalusot ang mga manloloko dahil mas mabilis at mas matibay na ang aksyon ng ating mga awtoridad,’ Villar emphasized.

The senator reaffirmed his commitment to strengthening safeguards against financial fraud while promoting greater public awareness in the digital space. ‘Hindi natin titigilan ang pagpapatibay ng ating mga batas at pagpapaigting ng kampanya laban sa cybercrime. Kasabay nito, hinihikayat natin ang publiko na maging mapanuri at maingat sa kanilang mga online na transaksyon,’ he concluded.

With inflation expected to remain elevated even if tensions in the Middle East ease, the Congressional Policy and Budget Research Department (CPBRD) is urging policymakers to adopt a longer-term approach to the ongoing price shock.

The state think tank said inflationary pressures are likely to persist because of the lasting impact of the oil supply disruption, as well as the delayed transmission of higher fuel costs across the broader economy.

‘The ongoing crisis in the Middle East, whether or not it is resolved in the coming weeks, will have a lasting effect on domestic prices. The unlikely reopening of the contested Strait of Hormuz in the coming weeks will likely not result in slower inflation in the coming months,’ the CPBRD said in a discussion paper. Given these conditions, the CPBRD said policymakers must move beyond short-term relief measures and begin reassessing structural responses to sustained cost pressures.

Among the options raised by the think tank is a review of the tax burden on local businesses, warning that higher input costs are likely to squeeze already thin margins and further constrain operations.

Temporary tax relief, it said, could help firms absorb rising costs, sustain production and prevent job losses. The CPBRD also underscored the need to support household spending, noting that prolonged inflation is expected to erode purchasing power across income groups and weaken overall demand.

‘The crisis will reduce demand across all segments of society-not just from those who are poised to receive targeted transfers,’ the report noted.

The call for a longer-term response comes as the study found that the impact of rising oil prices is neither immediate nor uniform, with what economists call a ‘transmission lag’ delaying the full effect across sectors.

In the near term, transport costs absorb the shock first because of their direct exposure to fuel prices.

The study estimates that a typical oil price spike raises transport costs by about 1.59 percent, the largest response among all major price components.

With recent oil movements equivalent to around four to five such shocks, the actual increase in transport costs could approach double-digit levels as higher fuel prices are passed on to fares and logistics. Beyond transport, the impact is already becoming evident in non-food items, particularly utilities and other energy-dependent services.

The CPBRD estimates that non-food prices rise by about 0.34 percent per oil price shock, reflecting the broader pass-through of higher energy and logistics costs across the economy.

‘The projected persistence of the shock-as well as the expectation of more similarly sized shocks in the near future-strongly suggest elevated and rising non-food prices throughout the remainder of the year,’ it said. Food prices, meanwhile, have yet to fully reflect the oil shock.

The think tank attributed the muted initial response to production and distribution lags, including the use of existing inventories and the time required for agricultural output to adjust.

However, it warned that inflation in this segment is expected to accelerate in the coming months as higher transport and fertilizer costs feed into farm production and retail prices.

In March, inflation accelerated to 4.1 percent, the fastest pace in nearly two years, driven largely by transport costs, which surged to 9.9 percent and accounted for more than half of the overall increase.

Food and non-alcoholic beverages posted 3 percent inflation, while housing, water, electricity, gas and other fuels rose to 4.5 percent.

Over the longer term, the CPBRD said the government must reduce the country’s vulnerability to external shocks by diversifying energy sources and strengthening domestic production.

‘Responses to the present crisis necessarily must look beyond those strategies that have been deployed-and have failed to deliver the desired results,’ it said.

The report pointed to the need for investments in a more resilient and efficient energy sector, alongside reforms in agriculture, including improved logistics, adoption of modern farming technologies and stronger domestic production capacity to reduce reliance on imports.

JUSTICE Secretary Fredderick Vida on Tuesday admitted that that fugitive former congressman Rizaldy Co is no longer in the Czech Republic.

Vida made the announcement after meeting with his counterpart and other high ranking officials of Czechia.

Vida has been tasked by President Marcos to head the Philippine mission to Prague in a bid to bring Co back to the country so he can face trial for plunder, graft and other criminal charges in connection with his alleged involvement in the multi-billion anomalous flood control projects of the government. The delegation left the country last April 22 and is expected to return to Manila on April 30, without concrete information on Co’s exact whereabouts.

‘I have to share difficult news mga kababayan. Czech authorities have informed us that Mr. Zaldy Co is no longer in their custody,’ Vida announced.

Aside the information that Co is no longer within the territory of Czech Republic, Vida said its officials refused to provide further information on Co, including when and why was he released from their custody.

The DOJ chief said Czech officials merely cited Schengen rules and data privacy policy in denying their request for additional information.

They also raised the lack of police cooperation agreement between the two countries as well as the lack of international arrest warrant or red notice issued by the Interpol against Co.

Vida said the government’s application for the issuance of a red notice has been pending with the Interpol for almost six months now. Vida expressed belief that Co was still under Czech custody before they left Manila last April 22 and upon their arrival in Prague on April 24.

‘We pursued any additional information and their reply was – we can no longer give you further information,’ Vida said.

Co has been in hiding since he left the country in August 2025 or before the flood control scandal broke out. He has been issued with arrest warrants by the Sandiganbayan in connection with his alleged criminal offenses.

Likewise, his Philippine passport has already been cancelled.

Vida also disclosed that the President has already been informed of this development. ‘Yes, he has been informed. As to the exact reaction of the President, I am not privy but definitely a comprehensive report will be made,’ Vida said.

The DOJ secretary noted that the Philippine government did not waste time in trying to bring Co back to the country from the time the President announced Co’s arrest by Czech authorities last April 16.

He noted that the government immediately coordinated with international authorities and dispatched a mission to Prague.

‘But we are working across sovereign borders and every country has it own laws, processes and timelines and we cannot compel a foreign government to act outside its legal framework. What we can do is work within those frameworks as aggressively as the law allows,’ Vida stressed.

Still, Vida expressed optimism that Co would eventually be caught and returned to the country considering that he is still in Schengen area based on the ‘workable’ intelligence information that the mission has gathered.

Schengen covers 29 European countries that have abolished border controls.

Vida also defended the President’s announcement about Co’s arrest, insisting that it was not premature since it was the information available at that time.

‘When the President made the announcement, that was the facts available, that Co was here in Czech Republic,’ he said.

Vida said based on their information Co was carrying an expired passport when he was accosted by Czech authorities on April due to possible immigration related issues.

He also said intelligence information indicates that Co is travelling around Schengen area by land.

‘Definitely he was traveling by land… We got information as to the registry of the vehicle,’ he said.

Vida refused to provide further details, noting that detwrmining Co’s remains an ‘active operation.’

Board of Investments Executive Director Ma. Corazon Halili-Dichosa is right to call the sector a priority. But declaring a priority is not the same as treating it like one. The steel industry is the skeleton upon which the flesh of modern infrastructure is built. Without domestic capacity, every bridge, railway, and housing project becomes more expensive, more dependent on imports, and more vulnerable to global shocks.

The promise of the updated roadmap is welcome. A unified direction and shared commitment are necessary first steps. But as Dichosa herself cautions, the roadmap is only the beginning. The real test lies in implementation-and that is where past efforts have routinely failed. Fragmented efforts, limited resources, and a lack of coordination across agencies have long plagued Philippine industrial policy. There is no excuse for repeating those mistakes. Technical adviser Rafaelita Aldaba cuts to the heart of the matter. Demand is not the problem. The Philippines has a large and growing market for steel products. The problem is that demand is ‘not sufficiently bankable.’ Investors face punishing energy and logistics costs, scarce long-term finance, and missing segments in the value chain-particularly in flat steel production and mineral development. These are not mysterious forces of nature. They are policy failures.

High electricity rates and poor logistics infrastructure are perennial complaints across Philippine industries. That they remain binding constraints on steel-a sector that could anchor wider manufacturing growth-suggests a failure of cross-agency coordination. The roadmap cannot simply identify these gaps; it must compel action from the Department of Energy, the Department of Transportation, the Philippine Ports Authority, and financial regulators. Otherwise, it becomes just another document.

Then there is the issue of skills. As the industry moves toward greener and more advanced production, the demand for skilled workers will grow. Where is the parallel roadmap for technical education and workforce development? The Department of Labor and the Technical Education and Skills Development Authority (TESDA) should already be at the table. This roadmap, when finalized, must be judged not by its prose but by its concrete outcomes: lower energy costs for steelmakers, streamlined financing mechanisms, and a clear timeline for closing value chain gaps. The government has said it will prioritize interventions given limited resources. That is sensible, but prioritization must be transparent and strategic-not an excuse for inaction.

Yes, this should have been done a long time ago. But since it wasn’t, the only unforgivable act now is to let the new roadmap gather dust. The steel industry does not need another study. It needs steel policy-focused, funded, and fiercely implemented.