DOF, biz group create digital solutions unit

THE Department of Finance (DOF) will form a multisectoral working group to craft digital solutions addressing both tax and non-tax concerns.

In a statement on Wednesday, the DOF said Finance Secretary Ralph G. Recto has directed the creation of the group to be led by the department along with private sector partners.

The order came during a dialogue with the Makati Business Club (MBC) on October 14, where the government and industry leaders discussed key policy issues and digital reforms that could streamline business processes and enhance transparency in tax administration.

Recto said the government will review existing tax circulars and identify potential digital solutions to make tax assessment more transparent and efficient for stakeholders.

The Finance chief also assured business leaders that the government is intensifying its digitalization efforts across the board to curb corruption and improve efficiency in public service delivery.

The private sector were also encouraged to participate in accelerating the DOF’s digital transformation program, particularly in the Bureau of Internal Revenue (BIR), the Bureau of Customs (BOC) and the Bureau of the Treasury (BTr).

‘We want to support the government in its quest to make this a very good business environment and investment destination. That’s our overall aim. We’re here to support you,’ MBC Executive Director Rafael Ongpin was quoted in the statement as saying.

‘Whatever support you think we can provide-inputs, technology, we’d be more than happy to do that,’ MBC Chairman Edgar Chua added.

Among the companies present during the meeting were Mondelez Philippines, Unilever, SGV and Co., PepsiCo Philippines, the American Chamber of Commerce of the Philippines (AmCham), Texas Instruments and Shopee.

Recto also thanked industry leaders for their collaboration, underscoring the private sector’s critical role in sustaining growth and job creation.

‘The government is only 20 percent or 25 percent of the economy-you’re 75 percent. Today, you have more than 50.1 million people working, with more than 32 million in the private sector,’ he said.

Also present at the meeting were MBC Trustee Cosette Canilao and Australian Embassy in the Philippines Economic Counselor Luke Villiers.

Joining Secretary Recto were DOF Chief of Staff and Undersecretary Maria Luwalhati Dorotan Tiuseco, Privatization and Partnerships Group (PPG) Undersecretary Catherine Fong, Corporate Sector and Strategic Infrastructure Group (CSSIG) Undersecretary Rolando Tungpalan, Revenue Operations Group (ROG) Undersecretary Charlito Mendoza, and ROG Assistant Secretary Euvimil Asuncion.

PBBM names ex-PNP chief Acorda as new PAOCC head

President Ferdinand Marcos named former Philippine National Police chief Benjamin C. Acorda Jr. as the new executive director of the Presidential Anti-Organized Crime Commission (PAOCC).

Palace Press Officer Claire Castro announced the appointment on Wednesday.

Acorda was a member of the Philippine Military Academy Sambisig Class of 1991. Prior to leading the PNP, he also served as head of its Directorate for Intelligence.

He will replace Undersecretary Gilbert Cruz as head of PAOCC.

Castro said Cruz will be given a new government position, but she declined to divulge it for now.

Under Cruz’s leadership, PAOCC launched a crackdown on Philippine offshore gambling operations (POGO), which was linked to human trafficking and other criminal activities.

As of press time, Malacañang has yet to disclose the reason for the change in leadership of PAOCC.

This was also the case when Marcos decided to appoint last week the new heads of the three attached agencies of the Department of Transportation (DOTr).

Special Envoy on Transnational Crime Markus Lacanilao was designated as the new chairman of the Land Transportation Office (LTO), while Vigor Mendoza II and Teofilo Guadiz III became the heads of Land Transportation Franchising and Regulatory Board (LTFRB), and Office of Transport Cooperatives (OTC), respectively.

Sun Life Investment cites value of VUL insurance

THE Sun Life Investment Management and Trust Corp. (Sun Life IMT) announced it has re-introduced its Variable Unit-Linked (VUL) insurance plan after policyholders expressed their investments did not grow as they expected.

‘It’s not a one-size-fits-all product, and it’s certainly not a shortcut to wealth. It’s a financial tool designed to protect first and grow second,’ Head of Insurance Investments Ivan P. Corcuera said.

According to Corcuera, the VUL is a dual-purpose product that combines protection and fund accumulation, focusing on life insurance first before fund generation unlike dedicated investment vehicles like mutual funds or stock trading.

‘Unlike a pure investment where beneficiaries only receive the value of accumulated savings, a VUL ensures that they receive a predetermined, substantial amount,’ he explained.

The VUL’s primary function, which is the life insurance coverage, provides a death benefit payout to beneficiaries upon the insured’s death.

Meanwhile, another portion of the premium, Corcuera said, is poured into managed funds with the aim to grow over time. The fund value, which is the accumulated value of the investment, can be accessed during the policyholder’s lifetime for their own financial goals.

He cautioned, however, that the fund value is tied to the performance of the chosen investment fund, which could either increase or decrease depending on market movement.

Corcuera was quoted in a statement as saying that the fund value also helps keep the insurance component active by paying for its cost and any applicable charges.

‘A portion of these units is deducted to pay for insurance and periodic charges, ensuring your policy remains active and your life insurance coverage intact. The remaining units continue to accumulate and determine your policy’s fund value, which can potentially grow over time,’ Corcuera said.

‘VUL is your shield and your tool for financial growth, but like any tool, it works best when used and understood correctly with clarity, commitment, and guidance,’ he added.

September fund release slowed as safeguard vs insertions

THE disbursement of state funds slowed as the government tightened scrutiny over congressional insertions, resulting in the release of 96.7 percent of the P6.326-trillion national budget as of September.

Latest data from the Department of Budget and Management (DBM) showed that the budget releases from January to September this year hit P6.120 trillion, which is higher than the P5.832 trillion disbursed during the same period last year.

However, the pace of releasing this year’s budget is slower compared to last year’s, when the government already freed up 100 percent of the P5.832-trillion allotment as of the end of September 2024.

Budget Assistant Secretary Romeo Matthew T. Balanquit explained that the slowdown in this year’s budget release was due to the implementation of a new safeguard over congressional insertions aimed at preventing the misuse of public funds.

Balanquit cited Section 6 of the veto message by President Ferdinand Marcos Jr., which requires the issuance of Special Allotment Release Orders (Saro) for all congressional insertions amounting to P757 billion.

These Saros, he added, will only be released once agencies meet the necessary requirements and secure approvals from the Executive Secretary and the Office of the President.

Despite the lag in disbursements, Balanquit said they expect the negative impact on overall economic growth to be limited as government spending contributes less than 20 percent to the gross domestic product (GDP).

‘Even if public spending slows in the third quarter due to reduced infrastructure disbursements, we expect a rebound in the fourth quarter, allowing us to still reach the full-year [disbursement] target of P6.082 trillion,’ he said.

‘Consequently, we expect to hit our target contribution to GDP growth by year-end. But again, much of the growth outcome depends on the performance of the private sector and how it reacted amid corruption issues,’ Balanquit added.

Based on the DBM data, P3.988 trillion of the 2025 General Appropriations Act has been disbursed, accounting for 94.7 percent of the total P4.221 trillion funding.

Of the amount, P3.545 trillion went to departments, including the Executive branch, Congress, the Judiciary and other constitutional offices.

Another P443.295 billion covered special purpose funds, such as budgetary support to government corporations, allocation to local government units and calamity fund, among others.

Meanwhile, releases for automatic appropriations reached P1.904 trillion or about 90 percent of the P2.115-trillion aggregate funding.

These include the full transfer of the national tax allotment (P1.034 trillion), block grant (P83.421 billion), pension of ex-president/ex-president widows (P480,000), special account in the general fund (P37.352 billion) and tax expenditures fund/customs duties and taxes (P14.5 billion).

About 75 percent or P21.525 billion was disbursed for net lending, while P636.023 billion covered interest payments.

The DBM also allotted an additional P8.393 billion for retirement and life insurance premiums of government employees, bringing the total to P76.943 billion as of end-September.

In terms of other releases, the DBM released a total of P226.777 billion. Of the amount, P20.807 billion in continuing appropriations from the previous year and P62.582 billion in other automatic appropriations were released.

Roughly P143.387 billion worth of unprogrammed appropriations was earmarked as assistance for government infrastructure programs amounting to P25.514 billion, support to foreign-assisted projects (P101.603 billion), budgetary support to state-run firms (P6.269 billion) and for the government counterpart of foreign-assisted projects (P10 billion).

Unprogrammed appropriations are those that provide standby authority to incur additional agency obligations for priority programs or projects when revenue collection exceeds targets, and when additional grants or foreign funds are generated.

The DBM has yet to release the remaining P206.331 billion of this year’s budget allocation.

Lazaro confirms early talks for WPS oil, gas; MVP group involved

FOREIGN Affairs Secretary Ma. Theresa P. Lazaro confirmed that early talks are happening for possible oil and gas exploration in the West Philippine Sea (WPS). The discussions involve businessman Manuel V. Pangilinan’s group and Chinese companies.

But Lazaro told BusinessMirror that the proposals are still ‘highly tentative,’ with no formal meetings or firm agreements yet.

The topic first came up during Tuesday’s Senate budget hearing when Senator Imee Marcos asked if the talks were reviving the old oil deal between former Foreign Secretary Teodoro Locsin Jr. and Chinese Foreign Minister Wang Yi. Lazaro replied, ‘That’s true. But this is purely private,’ clarifying that the initiative is led by private companies, not the government.

In December 2022, Pangilinan said his team had met with Chinese firms to explore joint oil and gas development in the West Philippine Sea. He clarified that China National Offshore Oil Corporation (CNOOC), which nearly secured an exploration deal with his group back in 2012, was not involved in these recent talks. He also stressed that any future agreement must follow Philippine laws and the Constitution.

This October, Pangilinan’s PXP Energy Corp. received three new petroleum service contracts from the Department of Energy for areas in the Sulu Sea and Northwest Palawan.

Efforts to restart joint oil exploration between the Philippines and China have stalled due to legal issues. A 2023 Supreme Court ruling declared the 2005-2008 Joint Marine Seismic Undertaking with China and Vietnam unconstitutional, making future deals harder.

Under Philippine law, only companies that are at least 60 percent Filipino-owned can join production-sharing agreements. Foreign firms can only participate as service contractors under full government control.

Coast Guard cooperation

While oil talks remain uncertain, maritime cooperation between the Philippine Coast Guard (PCG) and China’s coast guard is close to being finalized.

Lazaro said the proposed Memorandum of Understanding (MOU) is ‘more substantive’ and could be signed soon. It focuses on practical cooperation, especially in disaster response.

Talks are also progressing on marine scientific work, including ocean meteorology.

‘This is not about compromising sovereignty,’ Lazaro told BusinessMirror. ‘It’s about building mechanisms that might just prevent negative events.’

She defended the Department of Foreign Affairs’ approach, saying diplomacy is more than just protests. ‘People often say, ‘puro protest, puro protest,’ but diplomacy is more than that. It’s about keeping channels open,’ she said.

SM to open 89th mall in surfing capital of Ilocos

Shopping mall operator SM Prime Holdings Inc. will open SM City La Union in Ilocos region, its 89th mall in the Philippines, on October 17.

Located along Diversion Road, Barangay Biday in San Fernando City, SM City La Union spans more than 51,000 square meters of leasable area, over 80 percent of which has already been taken up.

‘This is our ninth mall in Northern Luzon and we designed it to serve as a landmark for both residents and tourists,’ SM Prime President Jeffrey Lim said.

‘As the surfing capital of the region, La Union deserves a retail center that reflects its vibrant lifestyle and rich culture.’

A highlight of SM City La Union is the Sandbox, a 1,348-square meter outdoor venue designed for sports tournaments, mini-concerts, yoga, Zumba and other community activities. Alongside it runs a bike lane parallel to a manmade sandbar, giving cyclists a unique way to enjoy the area’s open-air setting.

SM City La Union will be anchored by major tenants such as department store, supermarket, Ace Hardware, Toy Kingdom, Levi’s, Watsons, Surplus, Pet Express, Adidas, Miniso, Sports Central, SM Appliance Center, Puma, Uniqlo, National Bookstore and BDO.

For dining and leisure, the mall will feature an SM Foodhall offering Ilocano, Filipino and international dishes, while SM Cinema will showcase the first Director’s Club in the province.

‘With our diverse and unique offerings, we hope to strengthen La Union’s position as both a tourism and economic hub in Northern Luzon,’ Lim said.

In 2024, La Union’s tourism industry generated over P1 billion in revenues, driven by an increase in spending per visitor. The average length of stay also slightly grew year-on-year from 1.33 days to 1.39 days.

With more than 500,000 tourist arrivals in the same year, San Fernando City, San Juan and Bauang municipalities ranked as the top three destinations in the province.

New Zealand extends financial aid for violent extremism prevention

NEW ZEALAND will boost its aid to the Global Community Engagement and Resilience Fund (GCERF) with a new NZ$5.2-million grant to support an extra five-year local work program.

Minister of Foreign Affairs Winston Peters made the announcement late last September during the GCERF Replenishment Campaign Event in New York. The contribution will bring the total value of New Zealand’s support for GCERF’s work on preventing violent extremism in the Philippines to NZ$8.2 million.

The contribution will support community-based rehabilitation for both those returning from, and the victims of, violent extremist groups and their families. Areas of support will include access to mental-health support services; access to economic opportunities for people from vulnerable or marginalized communities; and enhanced access to credible and transparent transitional justice mechanisms.

High-level dialogue

IN the lead up to the September 4 New York event, Philippine government officials and civil society leaders joined members of the diplomatic corps for a high-level Dialogue on Preventing and Countering Violent Extremism (P/CVE). The event was co-hosted by GCERF and the New Zealand Embassy held at the New Zealand Official Residence.

Participants shared valuable insights drawn from the lived-experiences of communities in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and other regions of Southern Philippines.

Seasoned peacebuilder from the Consortium of Bangsamoro Civil Society (CBCS) Guiamel Alim emphasised key contributions of international development partners in laying the groundwork for peace and development in the region.

‘It is worth noting that the role of international development partners and the diplomatic communities are crucial in bringing peace and development in the BARMM. There is a need to support programs addressing community-based needs similar to those being implemented by the partners of GCERF.such as those related to preventing violent extremism, promoting community-based socioeconomic programs, and strengthening local governance capacity in development planning, among others,’ Alim said.

Through GCERF, donor countries including New Zealand and Australia are funding civil society organizations like CBCS, ECOWEB, IDEALS, Initiatives for International Dialogue, the Mahintana Foundation, Teach Peace Build Peace, and the Philippine Center for Islam and Democracy.

In her remarks, Ambassador Catherine McIntosh highlighted the importance of a cohesive, multi-stakeholder approach to P/CVE: ‘Since 2020, New Zealand has been collaborating with GCERF on community-led initiatives aimed at supporting the peace process in Mindanao. In March, I had the privilege of visiting our GCERF partners in South Central Mindanao.’

McIntosh expressed the embassy’s hopes that ‘the investment made by the New Zealand people-through GCERF-continues to uplift and inspire, as we jointly strive toward peacebuilding. We remain steadfast in our commitment to strengthen collective resilience against violent extremism.’

The dialogue concluded with the remarks from Undersecretary Isidro Purisima of the Office of the Presidential Adviser on Peace, Reconciliation and Unity or OPAPRU: ‘The success of the peace process depends on partnerships. GCERF helps bring these partnerships together-linking international support with national and local efforts to ensure peace is sustained, especially in communities.’

Why the need for state witnesses when the evidence is already clear

IN the ongoing congressional investigations on ghost projects and substandard infrastructure supposedly funded by the Department of Public Works and Highways (DPWH), one question keeps coming up: Do we need state witnesses to pin down the guilty?

Frankly, I think this debate is unnecessary. Why the fuss over state witnesses when the evidence is already staring us in the face?

If a project was allocated funds, documented, and paid for-but never implemented on the ground- then it is not only a ghost project; it is a crime that leaves behind visible emptiness. The absence of a project where one was intended to be built serves as proof-no state witness is needed.

Likewise, if a road, bridge, or flood control structure was supposedly completed but has already crumbled, cracked, or eroded long before its expected lifespan, that’s evidence enough. Engineers can measure, test, and certify that the work was substandard. The documents, the site, and the results speak louder than any testimony.

So why should we give those involved an escape route by turning them into state witnesses? If we keep doing this, we only embolden more crooks in government and the private sector-because they know they can always talk their way out later. The picture, as they say, already speaks for itself.

Empowering citizens: Evidence in the palm of our hands

Speaking of pictures, I recall a proposal that I and former Senate President and now Chief Presidential Legal Adviser Juan Ponce Enrile have long advocated and frequently discussed in our radio/TV program Dito sa Bayan ni Juan.

We proposed that ordinary citizens be allowed to take photos of those dumping garbage into esteros, rivers, and other waterways-and that these photos be made admissible as evidence in court. Enforcement agencies can then use the images to immediately identify, fine, and apprehend violators.

To make this more effective, we also suggested that a portion of the fine collected go to the citizen who took the picture. This way, people are empowered to help clean their own communities while discouraging violators who know that ‘anyone with a cellphone camera’ could catch them in the act.

In a nation where almost everyone carries a smartphone, this is not only practical but powerful.

The real cause of flooding: Clogged waterways, not lack of funds

Alongside citizen enforcement, Senator Enrile and I have long advocated another urgent need: to clear our rivers and esteros of illegal obstructions-makeshift structures, informal settlements, and business establishments that block natural waterways.

Each rainy season, we pour billions into flood control projects that either fail or become corruption magnets. Yet, the simplest and most effective solution lies in clearing the waterways. Do a cadastral survey if necessary. Let’s recover our rivers.

On this, I’m glad I share common ground with San Miguel Corporation Chairman and CEO Ramon S. Ang, who recently emphasized that before we spend another peso on new flood control projects, the government must first unclog our drainage systems. Even the most advanced flood control infrastructure won’t work if garbage and illegal structures choke the flow of water.

In his view-and mine-the real solution is not more spending, but more political will.

Accountability without excuses

IF we are serious about curbing corruption in public works, let’s not complicate what’s simple. Ghost projects leave a void-a visible absence that proves wrongdoing. Substandard projects show their defects plainly and can be gauged in two ways: the parameters set in the contract and the quality of materials used.

In these cases, the paper trail exists: there’s the contractor, the proponent, and the approving authority. Identifying them does not require a confession-just diligent auditing.

Only in rare instances, when identifying the culprits would be impossible without material testimony, should the government even consider granting state witness protection. It should be the last resort.

And even then, natural law should apply first-restitution must come before immunity.

Natural law tells us that moral right and wrong are discernible through reason.

For example-a car was hit by another vehicle and sustained dents and scratches. The two parties-using natural law-can already agree on the amount that needs to be paid without waiting for a court decision.

With due respect to legalese people, there are unwritten laws that are part of human nature.

So if someone steals public funds through ghost or substandard projects, those assets must first be surrendered or forfeited before any talk of leniency-using natural law.

As we know, the assets of some personalities linked to flood control scams have already been frozen. If these are unexplained wealth-and flaunted at that-then the government should have no difficulty reclaiming them.

There is nothing worse than seeing the very people who enriched themselves from public funds walk free, immune, and still living lavishly.

Let the punishment fit the gravity of their acts-not only through the written law but also through natural justice. There is no point taking it easy on them when they have practically admitted to illegally pocketing the people’s money. They did not play by the rules, and yet we are being too careful to strictly adhere to written laws.

Leave the President out of it

Finally, I urge the public not to drag President Ferdinand Marcos Jr. into this controversy. He was the one who ordered a full and transparent probe into these irregularities. The people are waiting for justice-let us give it to them swiftly.

A touch of Filipino humor

Still, even in times like these, Filipinos manage to find humor. A friend of mine, Richard B. Flores, who constructs mausoleums in memorial parks, told me with a smile:

‘In cemeteries, there are ghost projects too.’

I was startled and asked what he meant.

He said, ‘Well, there are ghosts of the departed lurking.’

I laughed and replied, ‘Well, those are the better ghosts.’

It was a brief moment of levity- but it reminded me that amid all our frustrations, we must never lose our sense of humor, even as we demand truth and justice.

What is a breakciting moment-and why it’s the key to true quality time with your kids

SCHOOL breaks used to be bursting with energy. The bell would ring, and suddenly the hallways echoed with laughter as kids rushed to finish their snacks so they could play with friends, and occasionally tumble from a too-energetic game of tag. Breaktime wasn’t just a break from class; it was the most anticipated part of the day.

But somewhere along the way, that excitement started to fade. For many kids today, breaktime has lost its spark. It’s become a cycle of the same baon, the same spot, and the same routine-repeated day after day. What was once a moment of discovery, play and connection now feels predictable and far from the fun-filled pause it used to be.

And for moms, it’s easy to wonder: ‘Whatever happened to those simple, delightful moments?’ Those pockets of fun that left kids energized, connected, and beaming when they got home from school?

Because breaktime isn’t just about rest. It’s when kids recharge, reset and relate to the world beyond the blackboard. Experts agree that even short breaks play a crucial role in helping kids focus better, feel more confident, and develop essential social skills. But if those breaks become dull, repetitive, or lonely. that opportunity slips away.

That’s where the idea of a ‘Breakciting Moment’ comes in.

With Alaska Fruitti Yo! Yoghurt-Flavored Milk Drink, a delicious and fruity baon favorite especially for kids, a breakciting moment begins when an ordinary break turns into a joy-filled adventure. It’s when kids don’t just sip their drink, they giggle, move, invent games, share laughs with classmates, or even start a new routine with their moms at home.

Whether it’s pairing Alaska Fruitti Yo! with their usual baon and giving it a silly name, or turning their sip into a playful freeze pose, breakciting moments invite kids to interact, explore and express themselves in fun, easy ways that spark joy and creativity.

Because while moms can’t always be there during break time, Alaska Fruitti Yo! helps make those moments more special. Prepping baon isn’t just about nutrition anymore-it’s about giving kids something to look forward to. A drink that doesn’t just fill the tummy but creates fond memories.

PSALM: Sale of CBK plants undergoing scrutiny of PCC

The sale of the P36.266-billion Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plants (HEPPs) is now being reviewed by the Philippine Competition Commission (PCC) in preparation for the turnover of the asset to the winning bidder.

‘The turnover is February 2026. We are hoping for full payment in December 2025,’ said PSALM President Dennis Dela Serna, who added that there is an ‘ongoing’ evaluation of the transaction ‘with the PCC.’

Thunder Consortium-composed of Aboitiz Renewables, Inc., Sumitomo Corp. and Electric Power Development Co.-submitted the highest bid offer for the 796.64-megawatt (MW) power plant at P36.266 billion.

This was way higher than the P19.616-billion offer of its sole competitor, FWKG Consortium, comprised of First Gen Prime Energy Corp. and Korea Water Resources Corp.

Thunder Consortium is currently undergoing a rigorous post-qualification process to verify the accuracy and authenticity of the eligibility documents submitted.

As part of the process, PCC approval is required for large asset sales to ensure that the parties do not create a monopoly or stifle competition.

Located in the municipalities of Lumban, Majayjay, and Kalayaan in the province of Laguna, the CBK HEPPs are currently operated under a 25-year Build-Rehabilitate-Operate-Transfer Agreement with CBK Power Company Ltd., which is set to expire in February 2026.

These facilities are composed of the 39.37-MW Caliraya HEPP in Lumban, 22.91-MW Botocan HEPP in Majayjay, and 366-MW Kalayaan I and 368.36-MW Kalayaan II pump storage power plants in Laguna.

PSALM was created under Republic Act 9136, or the Electric Power Industry Reform Act of 2001, to lead the privatization of generation and transmission assets of the National Power Corporation and the National Transmission Corp.

As of end-August this year, PSALM’s financial obligations stood at P259.38 billion. The state firm refinanced its 2025 shortfall through a P100-billion syndicated loan with Land Bank of the Philippines and Development Bank of the Philippines last May. The fourth drawdown amounting to P4.9 billion was made on August 13, 2025.