Category: Business Mirror

The Bangsamoro government allotted P1.23 billion to boost scholarship assistance and social welfare services, taken from a pooled fund with the national government.

The Bangsamoro Information Office disclosed that the autonomous government expanded its investments in education and social protection on July 22 ‘by rolling out more than P1.23 billion in scholarship assistance and welfare programs during the National Government-Bangsamoro Government Convergence Program.’

The assistance will be delivered by the Ministry of Social Services and Development (MSSD) and the Ministry of Science and Technology (MOST).

Social Services Minister Raissa Jajurie said her ministry allocated P1.22 billion for three of its flagship social protection programs: P560 million for the Bangsamoro Critical Assistance in Response to Emergency Situations (B-CARES), P540 million for the Kalinga sa May Kapansanan Program, and P122.64 million for the Kupkop Program.

The Kalinga sa May Kapansanan Program currently provides a monthly P1,000 subsidy to around 45,000 indigent persons with disabilities across BARMM, while the Kupkop Program extends P5,000 monthly assistance to 2,040 orphaned children. Since 2023, the B-CARES Program has assisted more than 184,855 individuals facing medical emergencies, disasters, armed conflict, and other crises.

The MOST, meanwhile, awarded P14.5 million in scholarship assistance to qualified beneficiaries under its Mujahideen Assistance for Science Education (Mase) and Professional Assistance for Science Education (Pase) programs.

The ministry released P10 million for MASE scholars and P4.5 million for Pase grantees pursuing postgraduate studies in science and technology-related fields.

The grants will cover tuition, learning materials, and other academic expenses.

The MOST said the increased assistance to science education will strengthening the region’s pool of science and technology professionals.

The P1.23 billion assistance was announced during the convergence of assistance and services programs held simultaneously at the headquarters of the Army’s (PA) Sixth Infantry ‘Kampilan’ Division, in Awang, Datu Odin Sinsuat, Maguindanao del Norte, and the Bangsamoro Government Center in Cotabato City.

The assistance was a chunk of the more than P3.4 billion total worth of projects, services, and development interventions jointly implemented by the National government and the Bangsamoro autonomous government.

During the convergence programs this week, the MSSD also operated a service booth for B-CARES consultations, orientations on the Ligtas Pamilya Project, and the distribution of emergency go-bags for psychosocial workers and medical requisition slips for essential medicines. ‘Building an inclusive and a Matatag na Bangsamoro is a shared task. MSSD stands side-by-side with the Bangsamoro and National Governments, welcoming the President’s initiatives to drive meaningful progress across our communities,’ Jajurie said.

FOR promising hopefuls Lance Carr and Vince Conrad, patience is indeed a virtue.

Lance almost made a quick exit from show business to return to the hardcourt when nothing was happening to his career a few years ago, and then the Wattpad series from Viva happened and he realized that he should stay a little bit longer and see where destiny would lead him.

We spoke to Lance recently who is in the thick of promotions for the horror flick Rosario, directed by our filmmaker friend Topel Lee.

‘I enjoyed acting for this horror movie, a breather from the light romantic projects that were assigned to me in the past. I learned a lot from our director and I’m glad that I shared many scenes with Aubrey in this project because we work very well together and are good friends in real life,’ he shared.

The Aubrey that Lance is referring to is Aubrey Caraan, and their love team has caught the attention of Wattpad University series fans. The two rose to popularity when they did Avenues of the Diamond and Hell University. When not busy with acting projects, Lance always finds time to play basketball, his first love. ‘Basketball almost always recharges me. Shoots can sometimes leave me haggard because we do not get enough proper sleep hours, and exercise always helps-basketball specifically is a full body workout.’

We learned that Lance also knows the late Rene Baterbonia personally because they were schoolmates at the Ateneo de Davao High School. The two even shared moments on court during practice games in the past. ‘Rene was a good player and he was very grounded. He was well-loved on and off the court,’ Lance recalled. He also shared with us his views on the rising number of content creators who are using the loss to their personal advantage.

‘It is sad that there are a lot of people who are dipping their fingers into the tragedy, a lot of fake news just to attract viewers for their content and to have these monetized. It’s actually getting outrageous and bordering on being inhumane already-imagine riding on someone’s tragic death for self gain!’ Lance said, his disappointment manifest in his tone.

He added, ‘And it is even more sad that people are also very quick to pass judgment, as if they were there when the tragedy took place, as if they are in authority. If you are family or a really close friend who voice out their feelings, then I would understand because they are engulfed with emotions, but people who just want to ride on the case, for clout and personal gain, that’s really sad and despicable. Just let our fallen colleague rest, and rest in peace.’

Lance told us that he will be playing basketball at the special Viva All Star Games scheduled mid-August at the Smart Araneta Coliseum. ‘I’m looking forward to the fun games where I will be with my Viva family to play ball and entertain the fans at the same time!’

WINNING AT WCOPA

Theater actor Vince Conrad bagged multiple medals in the recently concluded World Championship of the Performing Arts (WCOPA), the same annual US-based competition that attracts promising hopefuls from the Philippines and other nations who can afford to represent their countries in various competition categories and who can successfully secure travel requirements for their quest.

Vince won gold, silver and bronze medals for various acting and vocal categories , and he was also accorded a short-term scholarship certificate sponsored by the New York Film Academy.

What surprised Vince was his big win in the Comical Acting category. ‘Comedy has never been the genre I naturally gravitate toward. I’ve always felt more at home in dramatic roles. Yet somehow, it was the piece I felt least confident about that God chose to use and bless me. I only finalized my comical acting piece the night before the preliminary competition then I had to make some last minute revisions before stepping onstage. By God’s grace, that same piece became the one that brought me to the grand finals and eventually earned me the title of WCOPA Division Champion for Acting.’

It was on different theater stages where Vince honed his gifts more than 10 years ago. His first lead role was in Gantimpala Theater Foundation’s Si Totong Tipaklong at ang Kapangyarihan ng Tag-araw. Vince also had the opportunity to work with theater thespians like Joel Lamangan, Laurice Guillen and National Artist for Music Fides Cuyugan-Asencio,

Vince is now part of Ilviso Artists, founded and managed by the highly-regarded and very amiable cinematographer-filmmaker Rain Yamson II, who is so happy with his talent’s milestones in Las Vegas.

Before he flew and competed, Vince was also part of the Frannie Zamora directed musical production Ibarra Ngayon. Vince acknowledged the theater productions he worked in as his training ground. His manager Rain also shared that Vince has also wrapped up work for Rommel Ramilo’s debut movie Liwanag at Dilim, a biopic of Emilio Jacinto.

Both Lance Carr and Vince Conrad are on the right track, and they should just continue with their artistic pursuits armed with determination, hard work, humility, sincerity, and more patience.

We hope they will just let their actions and achievements define them as artists and not allow their egos to get overblown. The future looks bright and their respective paths to success in the entertainment business certainly look much clearer and wider now.

VOLLEYBALL officials have hit reboot, hoping to restore stability and credibility to the sport’s national federation after months of turmoil.

With the Philippine Olympic Committee (POC) presiding over more than 35 volleyball stakeholders on Monday at the Southlinks Boardroom of Solaire Resort in Parañaque, all members of the suspended Philippine National Volleyball Federation (PNVF) board have agreed to resign to pave the way for a new one.

The new leadership structure will mirror other sports federations, with no chairman of the board and the secretary-general to be appointed and not elected.

POC president Abraham ‘Bambol’ Tolentino was pleased as Philippine volleyball, which is gearing up for important international stints such as the Asian Games, can move forward as one.

‘That’s the first step and they all agreed to resign,’ Tolentino said.

Another assembly will be called on August 10 to tackle the next steps toward fresh elections of the federation.

The assembly also approved a restructured 13-member board to include athlete representatives from both indoor volleyball (male) and beach volleyball (female), plus one each from the major collegiate leagues National Collegiate Athletic Association and University Athletic Association of the Philippines.

The POC will also have a seat in the board.

‘This is to introduce inclusivity and, more importantly, that the stakeholders prioritize the call of the national team,’ added Tolentino who presided over the assembly with POC secretary-general Wharton Chan.

The PNVF under president Tony Boy Liao, elected in November last year, was suspended by the FIVB in May due to governance concerns and alleged violations of the international federation’s Code of Ethics.

An ad hoc committee was formed to oversee Philippine volleyball to ensure that the teams would be able to continue international obligations.

The crisis further deepened as, while Alas Pilipinas competed in the Asian Volleyball Confederation Women’s Cup in Candon, a letter signed by PNVF board members withdrawing support for Liao surfaced online. The letter was signed by chairman Arnel Hajan, vice president Yul Benosa, secretary general Otie Camangian, auditor Roger Banzuela, Sherwin Magada, Fr. Victor Calvo, Danilo Cong-o, Socorro Calleja-Uy and Edward Lee.

Days later PNVF declared Frank Lao of Strong Group Athletics as president, but that was declared null by the POC because of the suspension. Lao attended the general assembly on Monday.

POLITICAL controversies failed to derail the House of Representatives from advancing measures addressing the everyday needs of Filipinos, House Majority Leader Ferdinand Alexander A. Marcos said on Monday.

As the 20thCongress entered its Second Regular Session, Marcos highlighted the chamber’s continued action on proposals concerning education, water governance, energy, nutrition, social protection, digital payments, and land use.

Despite months of political distractions, he said the House completed action on 26 of the 52 priority measures endorsed by the Legislative-Executive Development Advisory Council (Ledac) during the First Regular Session.

Under the leadership of Speaker Faustino G. Dy III, the House approved 229 measures, comprising 66 national bills and 163 local measures. It also transmitted more than 160 measures to the Senate.

Marcos said these accomplishments showed that the chamber remained focused on legislation despite controversies competing for public and congressional attention.

‘I think the fact that we are ahead of schedule shows that I am satisfied with what has been happening in the House lately and with its legislative performance,’ he said during an ambush interview.

Marcos said the legislative output remains the most objective basis for assessing whether the House leadership has effectively managed the chamber’s work.

‘The performance of any majority leader should be measured by the legislative output of the chamber in which that official serves,’ he stressed.

Marcos added that Congress should be evaluated not only by the volume of measures it processes but also by its progress in passing priority legislation that directly responds to national concerns.

‘What matters is how many measures Congress has passed, particularly those identified as Ledac priorities,’ he said.

With half of the Ledac-endorsed measures already acted upon, Marcos said the House would carry its momentum into the Second Regular Session and focus on the remaining priorities of the Marcos administration.

‘We hope to sustain the momentum we established during the First Regular Session as we move into the Second Regular Session,’ Marcos said.

Aboitiz Economic Estates and Batangas State University, The National Engineering University, formally inducted industry leaders into the Industry Advisory Council (IAC) through an Induction and Onboarding Program held last July 2026 at the Talent Edge Hub at LIMA Estate, reinforcing collaboration between industry and academia to strengthen workforce readiness and align education with evolving industry needs.

By strengthening links between education and industry, students gain greater exposure to workplace realities, educators benefit from industry insights, and employers help shape a talent pipeline equipped for the opportunities and challenges of a rapidly evolving economy.

The Industry Advisory Council serves as a strategic partner to Batangas State University in aligning academic programs with industry needs. It assists the University in developing graduates with the competencies, skills, and professional attributes required by the workforce while ensuring that academic programs remain responsive to industry standards, professional requirements, and emerging societal and technological developments.

Through regular engagement with the University, Council members will provide insights on workforce trends, emerging skills requirements, evolving technologies, and workplace practices that can inform curriculum development, academic program enhancement, and workforce preparation initiatives. The Council also institutionalizes industry participation in student learning and workforce development by helping integrate industry-relevant competencies into academic programs and learning outcomes.

Beyond its advisory role, members will support initiatives such as industry mentorships, guest lectures, experiential learning opportunities, and workplace exposure programs that connect students to real industry practice and professional environments.

‘Preparing talent for the future requires stronger connections between education and industry. Through the Industry Advisory Council, companies can contribute directly to shaping learning experiences, developing relevant skills, and providing students with greater exposure to real-world industry environments,’ shared Rafael P. Fernandez de Mesa, President and CEO of Aboitiz Economic Estates and Aboitiz Land. ‘By bringing industry closer to education, we strengthen workforce readiness while helping build the talent pipeline needed to support long-term economic growth.’

The Industry Advisory Council brings together representatives from academia, estate development, and industry to help align education with evolving workforce needs. Its industry members include senior leaders from companies spanning automotive manufacturing, consumer goods, food production, packaging, logistics, semiconductors, and industrial manufacturing, including representatives from some of LIMA Estate’s leading locators such as Yamaha, Furukawa, JTEKT, Proterial (formerly Hitachi Metals), Japan Tobacco International, Littelfuse, and Aice.

During the onboarding program, Council members formally committed to active participation in Council meetings, consultations, and collaborative activities that will help guide the continuing development of the Industry-Based Learning Model and strengthen engagement between the University and industry partners.

‘The Industry Advisory Council creates a structured mechanism for industry to participate in the continuous enhancement of our academic programs,’ shared Dr. Tirso A. Ronquillo, President of Batangas State University. ‘By bringing together leaders from key sectors, we gain valuable insights that help ensure our graduates develop the competencies, technical expertise, and professional attributes required by today’s workforce. These perspectives also help us keep our programs responsive to emerging industry developments and future skills requirements.’

The Council forms part of Talent Edge, Aboitiz Economic Estates’ workforce sustainability platform, which seeks to strengthen talent pipelines by connecting education, industry, and employment opportunities across its economic estates.

‘Building a future-ready workforce requires industry to play an active role in education. Through the Industry Advisory Council, we can help align learning with real-world workforce requirements while giving students greater exposure to the realities of modern manufacturing,’ shared Arnel Recolizado, Chief Green Officer for Yamaha Motor Philippines. ‘This collaboration benefits both industry and society by helping develop skilled talent, expanding opportunities for young people, and strengthening the long-term competitiveness of the Philippine economy.’

The initiative supports the development of the Batangas State University – LIMA Campus, which is designed to advance a model of industry-based learning by bringing education and industry into closer collaboration. Located within LIMA Estate, the campus provides students with direct access to operating industries, modern technologies, and professional environments that can enrich learning and strengthen workforce preparation. The 10-hectare Batangas State University – LIMA Campus, located within LIMA Estate’s Industrial Hub, will serve as the Philippines’ first learning hub for industry-based learning, strengthening embedded workforce sustainability by directly linking engineering education with the evolving needs of industrial operations and supporting long-term talent development within the ecosystem.

This vision begins to take shape in August 2026 when the Batangas State University – LIMA Campus welcomes its pioneering batch of 800 freshman engineering and engineering technology students. The interim facility represents the first phase of a planned 10-hectare campus that will further expand opportunities for collaboration among students, educators, and industry partners.

As the Industry Advisory Council begins its work and the Batangas State University – LIMA Campus welcomes its first students, the partnership advances a model where education, employment, and industry development are more closely connected. Through Talent Edge and the BatStateU LIMA Campus, LIMA Estate continues to evolve as a working learning ecosystem where students, educators, and industry leaders can engage more closely, creating stronger pathways from education to employment and supporting the long-term competitiveness of Philippine industry.

This undated photo courtesy of Skyro Lending Inc. shows (lef to right) Skyro Payments Product Manager Daniil Murzabaev and President Anthony Co with Netbank (A Rural Bank) Inc. CEO Iann D. Sicat and Head of Cash Lenders Amiel de Sotto after the executives signed an agreement binding the two companies. The agreement integrates Netbank’s payment solutions with Skyro’s platform.

The country’s raw sugar production slipped back into contraction territory in the current crop year, which will end on September 30, as bad weather and the spread of a pest in major production areas slashed cane yields.

The latest data from the Sugar Regulatory Administration (SRA) showed that as of July 5, the volume of raw sugar from mills fell by 11.11 percent to 1.847 million metric tons (MMT), from the 2.078 MMT recorded in the same period last year.

Unless the only mill that remains open for this season posts a significant increase in output, the Philippines will likely end the current crop year with 1.85 MMT of raw sugar, as projected by the SRA.

Philippine Sugar Millers Association (PSMA) Executive Director Jesus Barrera told the BusinessMirror that lower sugarcane harvest delivered to the mills this crop year choked off raw sugar production.

Total cane milled dropped by 11.02 percent to 23.073 MMT during the period, from 25.931 MMT in the previous year, based on SRA data.

Despite this, sugar content remained relatively stable at 1.62 LKGTC (50-kilo bag per ton of cane) year-on-year.

‘The lower cane supply reflects a combination of factors, including weather-related effects experienced during the crop cycle and pest pressures such as the continued spread of red-striped soft scale insect [RSSI] in affected areas,’ Barrera told this newspaper.

Given the lackluster demand and ample domestic stockpile, he said the industry would not recommend any sugar imports at the moment despite the drop in output.

‘With weak demand and high inventories, there is no need to make any recommendations (for importation) at this time,’ Barrera said.

SRA data showed that domestic demand is down by 4.25 percent for raw sugar and 4.96 percent for the refined variant. The country’s physical inventory of raw and refined sugar is at 421,826 metric tons (MT) and 454,309 MT, respectively.

With crop year 2026-2027 set to begin on October 1, Barrera said the sugar industry may be hard-pressed to repeat its positive performance in crop year 2024-2025 as threats posed by El Niño and the spread of RSSI could dent production.

‘Excessive rainfall during the previous crop cycle affected field operations and crop development in some areas, while prolonged dry conditions associated with El Niño could further reduce cane yields if forecasts materialize,’ he said.

‘Unless these challenges are effectively mitigated through coordinated interventions by government and industry stakeholders, the prevailing industry outlook is that raw sugar production next crop year may remain under pressure.’

Exports

Meanwhile, the Philippines has exported 98,578 MT of raw sugar to the United States as of July 5, based on SRA data.

The latest figure is the highest level recorded since the country again exported raw sugar to the US in crop year 2023-2024.

It skipped outbound shipments of the commodity to the US for the previous two crop years due to shortfalls in domestic production.

The shipments were authorized under Sugar Order (SO) 3 for the current crop year, which allowed the export of 100,000 MT of raw sugar to the US under the tariff-rate quota (TRQ) system.

The Philippines recently secured a sugar allocation of 145,235 metric tons raw value (MTRV) for fiscal year 2027, the fourth straight year it has received the same quota under Washington’s import program.

The US Trade Representative (USTR) announced the in-quota allocations under the TRQ on imported raw cane sugar for FY 2027, which will begin on October 1.

Under the TRQ system, countries are allowed to export specified quantities of a product to the US at a relatively low tariff.

The Philippines received the second-largest allocation after the Dominican Republic’s 189,343 MTRV, with Brazil trailing behind at 100,000 MTRV.

June 2, 2026 marked a historic milestone for the Philippine Bank of Communications (PBCOM) with the inauguration of its 100th branch in Santiago, located at VCC Building, 213 City Road, Centro West, City of Santiago, Isabela. Led by Business Manager Mark Lester Gelano, this landmark achievement underscores the Bank’s continued expansion and commitment to making banking more accessible and inclusive for Filipinos nationwide, bringing renewed hope and promise to the people of Isabela through greater access to financial opportunities and services.

Building on this milestone, PBCOM inaugurated its 99th branch in Butuan City in the same week. Located on the Ground Floor of the VPH Realty Corporate Building along J.C. Aquino Avenue, PBCOM Butuan reflects the Bank’s ongoing efforts to bring its services closer to communities nationwide. Headed by Business Manager Ver Joeven Tanginan, the branch has been very well supported by the community since its opening. PBCOM Butuan is the Bank’s 12th branch in Mindanao and its 99th across the Philippines, strengthening its growing regional presence.

‘We are proud to mark two significant milestones in our continued expansion with the opening of our 99th branch in Butuan and our 100th branch in Santiago. These achievements reflect our commitment to expanding the reach of our services nationwide. Each new location in our network represents an opportunity to bridge the gap between communities’ financial needs and the Bank’s trusted services,’ said PBCOM President and CEO Patricia May T. Siy.

The first quarter of 2026 has been a dynamic period for the Bank, with a total of six branches opened nationwide, including two relocated branches: the Naga Branch, headed by Business Manager Gregory Clark Orcine, and the Tagbilaran Branch, led by Business Manager Cielito B. Meguillo, which was inaugurated on June 26, 2026. As PBCOM continues to grow its network, it remains focused on enhancing accessibility, meeting evolving customer needs, and strengthening its presence in key cities nationwide.

PRESIDENT Ferdinand R. Marcos Jr. pushed for a sweeping tax relief package, setting up a balancing act to cushion small businesses and the middle class from the lingering effects of the Middle East crisis while narrowing its fiscal deficit.

‘We have not forgotten Filipino workers, especially those in the middle class, as well as small businesses. We recognize that they, too, are bearing the burden of this crisis,’ Marcos said in his fifth State of the Nation Address on Monday.

Marcos placed tax reform at the center of his economic agenda for the administration’s final two years, saying that the government would pursue policies that balance economic growth and revenue generation with a fairer distribution of the tax burden.

‘To ensure the continued progress of the middle class amidst the lingering effects of the crisis, we will pursue tax relief measures that promote growth, generate revenue, and advance equity toward socio-economic sustainability,’ Marcos said.

The President proposed three major measures: a higher personal income-tax exemption, the removal of corporate income tax for qualified small businesses, and a tax amnesty covering several types of unpaid national taxes and their corresponding penalties.

Under the proposed reform, individuals earning no more than P350,000 annually would be exempted from personal income tax. This would raise the existing tax-free threshold of P250,000 by P100,000.

‘We will expand the income tax exemption threshold. More workers will be exempt from paying income taxes, including those earning up to P350,000 annually, Marcos said in the vernacular.

The current graduated income-tax schedule imposes no tax on annual taxable income of up to P250,000. Income above P250,000 but not exceeding P400,000 is taxed at 15 percent of the excess over P250,000, according to the Bureau of Internal Revenue.

Under the existing schedule, a person with taxable income of exactly P350,000 would owe P15,000 in annual income tax.

Raising the exemption to P350,000 could therefore provide that taxpayer with relief of up to P15,000, although the final benefit would depend on the tax brackets and computation rules eventually approved by Congress.

Marcos also proposed a corresponding reduction in the tax rates imposed on workers earning above the new exemption threshold. He did not specify the proposed rates during the portion of his address devoted to the measure.

The President characterized the reform as a way to allow working Filipinos to keep a larger share of the income they earned.

‘As a concrete measure to protect them and allow them to better enjoy the fruits of their hard-earned income, I call on Congress to pass legislation that will provide some relief from our tax burden,’ Marcos said.

The proposal would require Congress to amend the National Internal Revenue Code because the President cannot change personal income-tax brackets through an executive order alone.

For his part, House Majority Leader Ferdinand Alexander ‘Sandro’ A. Marcos expressed support for the proposed tax reform measures but stressed that its provisions must be carefully evaluated to ensure that the government can afford the planned tax relief measures.

Marcos said revisiting the country’s tax system would be prudent given the current economic climate.

However, he noted that Congress must first consult the Department of Finance (DOF) and the government’s economic managers before determining whether the proposed reforms are fiscally sustainable.

‘Well, I think given the economic climate we live in, it would be the prudent thing to do, but we have to seek the guidance and the wisdom of the DOF and the other economic managers as to whether or not that’s actually economically feasible,’ Marcos said.

‘Nonetheless, I will await to see what those versions of the bill are,’ he added.

Several bills seeking to amend the country’s income tax system have been filed in Congress. Among them are proposals to increase the annual tax-exempt threshold, revise the graduated tax brackets, and raise the ceiling for tax-exempt 13th-month pay and other employee benefits.

The TRAIN Law, or Republic Act No. 10963, took effect on January 1, 2018. It exempted individuals earning an annual taxable income of P250,000 or less and reduced personal income tax rates for many workers. To compensate for the resulting revenue losses, the law imposed or increased taxes on petroleum products, automobiles, sweetened beverages and other goods.

‘Exempt small businesses from corporate income tax’

The President also asked lawmakers to eliminate corporate income tax for qualified small enterprises. ‘Small businesses will no longer be subject to corporate income tax,’ he said.

Under Republic Act No. 12066, or the Create More Act, most domestic corporations are generally subject to a 25-percent income-tax rate.

Qualified corporations with net taxable income not exceeding P5 million and total assets not exceeding P100 million, excluding the land on which their office, plant or equipment is located, currently enjoy a preferential rate of 20 percent.

Tax amnesty

The third component of the President’s proposal is a tax amnesty for taxpayers with outstanding liabilities involving estate tax, income tax, donor’s tax and value-added tax.

‘To give taxpayers greater peace of mind, we will grant tax amnesty for unpaid taxes, including estate tax, income tax, donor’s tax, and value-added tax. The amnesty will also cover the penalties and surcharges associated with these unpaid tax obligations,’ Marcos said.

The amnesty could allow individuals and businesses to settle unpaid taxes under simplified terms while receiving relief from accumulated surcharges, interest or penalties.

The government’s previous estate-tax amnesty covered the estates of people who died on or before May 31, 2022. Its availment period ended in June 2025.

‘Progress bill’

Finance Secretary Frederick D. Go said earlier that a tax package, dubbed ‘Progress Bill,’ is being crafted to adjust personal income tax and provide tax breaks for small businesses.

The proposed bill is a combination of tax breaks, revenue-reducing measures and revenue-enhancing measures, Go said.

On the revenue-generating component, Go said this could take the form of ‘sin,’ health or environmental taxes.

The tax package comes at a time when the government’s fiscal deficit target was adjusted, accommodating a wider gap through the end of Marcos Jr.’s administration or until 2028.

The budget hole is projected to stretch until 2028-P1.658 trillion in 2026, P1.695 trillion in 2027 and P1.722 trillion in 2028-before contracting in 2029 and 2030.

Despite this, the government projects revenue collections to continue rising. This year, the revenue target is set at P4.807 trillion and eventually hit the P6-trillion mark in 2030.

JEANIA MARQUEZ-MONTEJO, a retired state teacher, passed away on Sunday in San Pedro City, Laguna. She was 81.

She was survived by husband Guillermo ‘Jimmy’ Montejo of the Manila Standard, sister Miriam and husband Romulo Laylay, brothers Dr. Edgardo Marquez and wife Myla, and former Vice Mayor Dante Marquez of Boac, Marinduque; nephews and nieces.

Her remains are available for viewing at the St. Peter’s chapel in San Pedro City. Cremation will be on Wednesday at St. Peter’s Memorial Chapel crematory.