Category: Business Mirror

THE push to scrap unprogrammed appropriations from the 2026 national budget gained more momentum as Senate President Pro Tempore Panfilo M. Lacson threw his full support behind the bid of Senate President Vicente Sotto III and Finance committee chairman Sen. Sherwin Gatchalian.

Lacson said that he will add his voice to the Senate’s stand if the Senate and House contingents meet on the matter at the bicameral conference committee.

‘Our agreement was that there will be no unprogrammed appropriations in the 2026 budget, but we will allow funding for foreign-assisted projects that are necessary. Funds in the unprogrammed appropriations for other purposes will be removed,’ he said in a mix of English and Filipino, in a radio interview.

Lacson’s remarks followed reports indicating the House of Representatives had rejected a proposal to slash the P250-billion unprogrammed appropriations when it completed its amendments to the 2026 General Appropriations bill on Friday.

House Appropriations committee chairperson Nueva Ecija Rep. Mikaela Suansing was quoted in reports as saying the government cannot afford to scrap contingent funding for foreign-assisted projects.

The Executive had also been quite firm on this stand, as initial reports indicated that funding for foreign-assisted projects cannot be withheld as this could imperil official development assistance (ODA) for critical programs.

Should the Senate and House maintain their conflicting stands, Lacson said the Senate will have on its side the Filipinos outraged by the corruption that was manifested in anomalous flood control and infrastructure projects.

Earlier, Lacson and his staff had confirmed the existence of flood control projects using unprogrammed funds in the budget.

‘We may have to confront this issue in the bicam. If I become a member of the Senate contingent to the bicam, I will add my voice to that of Senator Gatchalian, along with the voices of Filipinos who are outraged over corruption,’ he said.

Meanwhile, Lacson pushed anew for self-restraint among lawmakers in making amendments to the budget bill, and for introducing institutional amendments rather than individual ones for infrastructure projects that do not stem from consultations with the local governments concerned.

PCO has infra project?

GATCHALIAN has flagged an infrastructure project for the Presidential Communications Office (PCO) which the Department of Public Works and Highways (DPWH) was contracted to do.

Gatchalian cited the 2024 Commission on Audit (COA) Report that the then Presidential Communications Operations Office (PCOO) contracted the DPWH in 2019 to build the Government Communication Academy in Bukidnon (Phase II) worth P45.7 million. COA’s 2020-2023 report listed a similar project with a different amount-P79 million. The facility has no budget allocation for 2026, as funds have already been allotted for the completion of the remaining 10 percent of construction.

‘Why does PCO have a communications office in Bukidnon?’ Gatchalian asked. The PCO explained that the project, initiated under the Benigno Aquino III administration, was originally intended as a training center for communication offices under Malacañang and its attached agencies.

‘We’ve already spent P124 million, and the project is 90 percent complete. If we don’t finish this, it becomes a white elephant,’ said Gatchalian.

The PCO reported to the Senate plans are afoot to transfer the facility to the Northern Bukidnon State College once completed.

Presidential communications officials of the Aquino III administration headed by then Secretaries Herminio Coloma and Ricky Carandang have yet to issue statements.

CONSUMERS will have to pay more for electricity and gasoline.

The price of gasoline per liter will go up by P0.30, starting Tuesday. Meanwhile, kerosene prices will go down by P0.20 per liter while diesel price remain unchanged.

For power rates, the Manila Electric Company (Meralco) announced an increase of P0.2331 per kilowatt hour (kWh) for October. This brings the overall rate for a typical household to P13.3182 per kWh this month from P13.0851 per kWh.

For residential customers consuming 200 kWh, the adjustment is equivalent to an additional P47 in their total electricity bill.

Generation charge, which is a major component of an electric bill, went up by P0.1903 per kWh.

Charges from Independent Power Producers (IPPs) and Power Supply Agreements (PSAs) increased by P0.3622 and P0.3567 per kWh, respectively, primarily due to the depreciation of the local currency against the US dollar, which affected 99 percent and 48 percent of their respective costs.

The increase was tempered by lower charges from the Wholesale Electricity Spot Market (WESM) that went down by P2.0688 per kWh owing to a decrease of about 1,000 MW in Luzon’s peak demand.

IPPs, PSAs, and WESM accounted for 21 percent, 74 percent, and 5 percent, respectively, of Meralco’s total energy requirement for the period.

Transmission, taxes, and other charges also registered a total increase of P0.0428 per kWh.

Pass-through charges for generation and transmission are paid by Meralco to the power suppliers and the grid operator, respectively, while taxes, universal charges, and Feed-in Tariff Allowance are all remitted to the government.

Meralco reiterates that its distribution charge, on the other hand, has not moved since the P0.0360 per kWh reduction for a typical residential customer beginning August 2022.

Customers also continue to benefit from the ongoing implementation of the distribution-related true-up adjustment, equivalent to a reduction of P0.2024 per kWh for residential customers.

With the recent earthquakes affecting parts of the country, Meralco assured its customers that it continuously safeguards its distribution facilities from potential hazards to ensure the safety of both of its crews and customers.

Malacañang said the two-day ‘health break’ declared by the Department of Education (DepEd) for public schools aims to help prevent the spread of influenza-like diseases in Metro Manila.

‘They (DepEd officials) decided to prevent it from spreading by having a health break in schools so that students would not be infected and this would allow the cleaning of the schools in two days so that when the children return, they can be sure that their classrooms will be safe and clean,’ Palace Press Office Claire Castro said in Filipino in a press briefing last Monday.

During the weekend, DepEd announced that fact-to-face classes in public schools in the National Capital Region (NCR) will be suspended from October 13 to 14.

The affected schools were required to implement Alternative Delivery Modalities during the two-day suspension to prevent any disruption on the education of their students.

DepEd made the decision after the Department of Health (DOH) said flu-like cases nationwide reached 121,716 from January to September-eight percent lower compared to the 132,538 cases in the same period last year.

DOH defines influenza-like illnesses as a condition with sudden onset of fever of more than or equal to 38 Celsius and cough or sore throat in the absence of other diagnoses.

Citing DOH, Castro said the uptick in flu-like diseases was expected as the weather becomes cooler with the upcoming Christmas season.

She allayed public concerns on the disease and said the government is implementing the necessary measures to minimize the risk of the flu-like diseases from infecting more people.

THE country’s key policy rate could still be lowered by the Monetary Board in its final rate-setting meeting for this year and through 2026, according to BMI, a Fitch Solutions Company.

In its latest commentary, BMI forecasts a further 25-basis points rate cut in December and 50-basis points more next year.

The Monetary Board, the highest policy-making body of the Bangko Sentral ng Pilipinas (BSP), reduced the key policy rate by 25 basis points to 4.75 percent, defying market expectations of a pause.

BMI said the BSP’s dovish tone signaled that it was poised to ‘frontload easing’ to support the economy, projecting another 25-basis-point cut in December that would bring the policy rate to 4.50 percent by end-2025.

The central bank said in its press release after it delivered a rate cut that it sees a ‘scope for a more accommodative monetary policy stance’ and the ‘favorable inflation outlook and moderating domestic demand provide room to further support economic activity.’

BMI said the ‘downbeat assessment’ of the economy and BSP Governor Eli M. Remolona Jr., alluding to weakening business sentiment due to ‘governance concerns over public infrastructure spending,’ suggests the BSP is coming round to its view of a further rate cut.

BMI added that there are also signs of a slowdown abound, with the Philippine Stock Exchange index (PSEi) recently closing at a near six-month low and slow merchandise export growth.

Moreover, BMI projects inflation to average at 3.5 percent, slightly higher than the BSP’s forecast of 3.1 percent in 2026.

BMI also noted a counterargument that the peso’s recent weakness could prompt the BSP to pause further easing in December, as the currency closed nearly 1 percent lower at P58.44 per US dollar after the BSP’s decision.

BSP’s gross international reserves, at an 11-month high of $108.8 billion, would also provide a sufficient buffer to defend the currency.

Further, BMI pointed out that the US Federal Reserve’s anticipated rate cut in October will widen the interest rate differential between the Philippines and the United States to 75 basis points, before narrowing again in December.

As for 2026, BMI said it maintains expectations of a 50-basis point rate cut, bringing the policy rate down to 4 percent.

‘For one, the US-Philippines trade deal, which leaves 19 percent tariffs on Philippine goods in exchange for none on American ones, will weigh on the trade balance in 2026,’ BMI said.

‘For another, business confidence is likely to remain weak amid graft concerns and unpredictable US trade policy,’ it added.

While further monetary easing could help stimulate demand, BMI said the BSP may ease at a ‘more measured pace’ to allow the effects of earlier cuts to feed through.

Risks to the outlook, BMII added, are tilted toward more rate cuts in 2026 should the corruption scandal spread to other infrastructure projects, dampening business sentiment and widening the output gap.

‘With inflation expectations remaining well anchored, the BSP could prioritize the economy and deliver more policy rate cuts in 2026,’ BMI said.

The government would likely exclude imported sugar from the minimum access volume (MAV) scheme next year as the country has ample supply, the Sugar Regulatory Administration (SRA) said.

SRA Administrator Pablo Luis Azcona told the BusinessMirror that the government may not open the MAV for sugar in 2026.

Sugar has been excluded by the Department of Agriculture (DA) in applications for MAV for two years.

‘The way we’re managing our sugar stocks, I don’t think there’s any need for MAV,’ Azcona told this newspaper on the sidelines of a recent Senate hearing on the DA’s proposed budget.

‘We have no shortage, the supply is stable, and the prices are also stable. So for now, I don’t think there’s a need for it.’

The Philippines last allowed sugar MAV in 2023 after the average retail price of refined sugar skyrocketed to P100 per kilo in the latter part of 2022 from P53 per kilo in the previous year as stockpiles were depleted.

Sugar imports within the MAV are levied with a 50-percent tariff while shipments outside MAV are slapped with a 65-percent tariff.

Meanwhile, Azcona allayed concerns regarding sugar shipments, saying that importation is off the table for now.

‘Since milling has started, we will not talk or discuss about importation or plan about importation until May to June [next year] where we have definite production numbers unless there is really a warranted need or a spike.’

‘That is our promise to the farmers: as long as they are milling and we have no definite production numbers, and there is no warranted need, we will not discuss importation at the moment.’

Figures from the SRA showed that the country’s raw sugar output settled at 2.085 million metric tons (MMT) in the previous crop year 2024-2025.

Some 226,693 metric tons (MT) of the 424,000 MT approved import volume under Sugar Order 8 in the same crop year have entered the country as of September 28, based on the latest SRA data.

For crop year 2025-2026, the SRA said raw sugar production could fall to 1.92 million metric tons (MMT) as torrential downpours and pest infestation battered plantations in Negros, which accounts for 65 percent of total output of the sweetener.

However, the agency noted that output in the current crop year may even be lower than the initial forecast owing to the potential impact of red-striped soft-scale insects (RSSI) infestation on yield.

‘It’s an estimate based on the heavy rainfall experienced in the north of Negros, and [there] might be a small drop considering the presence of RSSI,’ Azcona said.

The average price of refined sugar in Metro Manila remains stable at P84.77 per kilo, while raw sugar settled at P76.38 per kilo, latest SRA reports showed.

The Land Bank of the Philippines (LandBank) announced it continues to strengthen its support for farmers and other players in the agricultural value chain with the regional rollout of the ‘Agrisenso Plus’ lending program in this province, bringing low-interest financing and capacity-building support closer to more agricultural communities nationwide.

Over 1,400 farmers from the municipalities of Aborlan, Bataraza, Brooke’s Point, Narra, Quezon, Rizal, and Sofronio Española gathered for the event, reflecting the strong interest of Palawan’s agri communities for accessible and affordable credit assistance, the state-run lender’s statement read.

LandBank President and CEO Lynette V. Ortiz and Bangko Sentral ng Pilipinas (BSP) Director Mynard Bryan R. Mojica led the launch on October 10 at Brooke’s Point Event Center.

They were joined by Brooke’s Point Mayor Cesareo R. Benedito Jr., Narra Mayor Gerandy B. Danao, and national and local partners from the Department of Agriculture (DA), Department of Agrarian Reform (DAR), National Irrigation Administration (NIA), Bureau of Fisheries and Aquatic Resources (BFAR), Agricultural Credit Policy Council (ACPC) and Philippine Crop Insurance Corp. (PCIC).

‘With the continued rollout of the ‘Agrisenso Plus’ nationwide, we are deepening our commitment to empower farmers and other agri stakeholders, including those in far-flung provinces like Palawan. We aim to provide them with the financing, tools, and partnerships needed to strengthen agricultural productivity and build resilient livelihoods,’ Ortiz was quoted as saying in the statement.

Agri financing

DEVELOPED in partnership with the DA, the DAR, the ACPC, the NIA and other private sector partners, the Agrisenso Plus is Landbank’s enhanced value chain-based financing initiative to provide holistic support to agricultural players.

The program offers a fixed interest rate of 4.0 percent per annum for small farmers, fishers, and ARBs, with competitive rates for their associations and organizations, micro, small, and medium enterprises (MSMEs), large enterprises, anchor firms, and agriculture graduates.

Borrowers benefit from simplified documentary requirements, free life and credit life insurance, and expanded access to technical and market support to help boost productivity and profitability.

The Agrisenso Plus is complemented by the Landbank’s Ascend (‘Agri-Fishery Support through Capability Enhancement for Nationwide Development’) initiative, a capacity-building component that provides farmers and fishers with training on digital financial literacy, sustainable agriculture, and enterprise development.

As of August 2025, LandBank has released P1.78 billion in loans under the Agrisenso Plus, supporting over 12,000 borrowers nationwide. The Palawan rollout follows successful launches in Pampanga, Cagayan, Isabela, Batanes, Bukidnon, and Iloilo, with the next rollout scheduled in Negros Occidental later this month.

Strengthening partnerships

THE Agrisenso Plus also connects farmers and fishers to market opportunities through partnerships with anchor firms, such as Kita Agritech Corp., Sarisuki Stores Inc., TAO Foods Co. Inc., Yovel East Research and Development Inc., and Unified Tillers Agriculture Cooperative.

Santeh Feeds Corp. recently joined the roster of the program anchor firms following the signing of a memorandum of agreement with Landbank on October 7.

The partnership will broaden the Program’s reach to aqua farmers nationwide who use Santeh Feeds’ products and services. It aims to boost productivity and strengthen the economic resilience of aqua farmers, while advancing sustainable aquaculture practices across the country.

LandBank remains steadfast in its mission to advance countryside development and ensure food security by scaling up inclusive and sustainable financing for the agriculture sector-empowering rural communities and cultivating growth from countryside to countrywide.

DESCRIBING it as ‘long overdue,’ an assistant majority leader of the House of Representatives on Sunday expressed strong support for Ombudsman Jesus Crispin Remulla’s plan to restore public access to the Statements of Assets, Liabilities, and Net Worth (SALNs) of all government officials, including those of President Marcos former President Rodrigo Duterte, and Vice President Sara Duterte.

Las Piñas Rep. Mark Anthony Santos described the Ombudsman’s initiative as ‘a historic step toward ending secrecy, fighting corruption, and restoring the people’s faith in government,’ emphasizing that public trust can only be rebuilt through openness.

SALNs of public officials were closed to public access by former Ombudsman Samuel Martires, a

Duterte appointee

‘Public office is a public trust. The people have the right to know how their officials manage their wealth and live up to the ethical standards set by law,’ Santos said. ‘I fully support Ombudsman Remulla’s initiative to reverse the restrictive 2020 policy that limited public access to SALNs.’

The 2020 memorandum issued by then Ombudsman Samuel Martires required public officials’ consent before releasing their SALNs-a rule widely criticized for shielding officials from scrutiny.

Santos noted that Remulla’s move upholds Republic Act 6713, or the Code of Conduct and Ethical Standards for Public Officials and Employees, which mandates that SALNs be open to public inspection and copying upon reasonable request.

‘Transparency tools like the SALN system are essential in deterring corruption and rebuilding public trust in institutions,’ Santos said. ‘The government should not hide behind the excuse of data privacy when it comes to accountability. As long as safeguards are in place, there is no reason why the people should be kept in the dark.’

Santos also expressed support for Remulla’s vow to investigate alleged anomalies in flood control projects, saying, ‘That is exactly the kind of leadership we need in the Office of the Ombudsman-no sacred cows, just the truth and the law.’

‘That is exactly the kind of leadership we need in the Office of the Ombudsman,’ Santos said. ‘No sacred cows-just the truth and the law. I look forward to working with Ombudsman Remulla in strengthening institutional integrity and ending impunity in public service.’

Remulla earlier said the SALNs of President Ferdinand Marcos Jr., former President Rodrigo Duterte, and Vice President Sara Duterte may be among those accessible to the public starting next week. He also indicated openness to releasing SALNs dating back to 2016.

THE Maritime Industry Authority (Marina) has launched an intensified inspection campaign all over the country to ensure the seaworthiness of passenger vessels ahead of the expected surge in travelers for the All Saints-All Souls Days commemoration, when Filipinos traditionally visit the graves of their departed loved ones.

The simultaneous inspections, which will run until October 17, involve 14 inspection teams deployed from Luzon to Mindanao. As of October 12, the Marina reported that 132 vessels had already undergone compliance checks under the ‘Intensified Compliance Inspection’ program.

Marina Administrator Sonia Malaluan said the initiative is not a routine activity but part of the agency’s broader ‘Ligtas Biyaheng Dagat’ campaign to safeguard passengers and strengthen the culture of maritime safety nationwide.

‘The safety of life at sea should never be taken lightly. These inspections ensure that every operating vessel is safe, reliable, and compliant with regulations-not just for the Undas period but throughout the year,’ she said.

She noted that ships found with deficiencies during the inspections will be subject to monitoring and follow-up checks.

Malaluan emphasized that the agency will impose punitive actions against vessels or operators that fail to meet safety standards.

OMBUDSMAN Jesus Crispin Remulla is set to release today (Tuesday) the rules that would give the public access to the statements of assets, liabilities and net worth (SALNs) of public officials subject to certain conditions.

President Ferdinand Marcos is ready to release his SALN to the public if it will be allowed by the Ombudsman, according to Malacañang.

This, after newly installed Ombudsman Jesus Crispin ‘Boying’ C. Remulla said he will allow the ‘conditional’ release of the SALNs to the media.

Palace Press Officer Claire Castro said the President will comply with the decision of the Ombudsman, which has the authority over SALN releases.

The said compliance to the Ombudsman, she said, will not only extend to the President, but also other officials of the Executive branch.

‘Whatever is appropriate, whatever the law says, and whatever is best for fighting corruption, everyone in the executive department will obey,’ said in Filipino in a press briefing last Monday.

Remulla also said he would ask the Senate and the House of Representatives to also provide the Ombudsman copies of the SALNs of their members to be included in its files.

Remulla said copies of SALNs will be made available to requesting parties provided that they would sign an undertaking to prevent it from being weaponized.

‘As far as the rules of the SALNs are concerned, we will come up with it by tomorrow. By tomorrow you will get a handle on these rules and we will really make it available, that’s the best and we will start from the President down,’ Remulla said.

‘Our only request is for requesting parties to have an undertaking so all will be responsible from the information we get,’ the Ombudsman said.

During the term of his predecessor, former Ombudsman Samuel Martires, public’s access to SALNs of elected officials was restricted through his Memorandum Circular No. 1.

Under the memo, SALNs were only to be released if the request was made by the government official concerned, or his or her representative; if it was legally ordered by the court in relation to a pending case; and if it was made through the Office of the Ombudsman’s field investigation office for the purpose of a fact-finding probe.

Earlier, former Supreme Court (SC) Associate Justice Antonio Carpio said Remulla should allow the public to have access to government officials’ SALN.

He suggested that private information like residence, the name of children and other details that do not pertain to assets or liabilities be redacted.

Carpio said this move would restore the public’s trust in government in light of various anomalies involving flood control projects.

Remulla, the former Department of Justice (DOJ) secretary, said he may allow the release of the SALNs to media entities, which conduct investigative reports and enter into data sharing arrangements with the Office of the Ombudsman.

When asked if a new DOJ chief was already appointed, Castro said she still has no information on the matter.

Currently, DOJ Undersecretary Frederick A. Vida was designated as the officer-in-charge of the agency.

She assured the President will pick a person of integrity, who is reliable, impartial and fair as his new DOJ chief.

THE Integrated Bar of the Philippines (IBP) Misamis Oriental Chapter has condemned the killing of Niruh Kyle Antatico, a Juris Doctor graduate and anti-corruption advocate, in Patag village, Cagayan de Oro on Friday.

The 40-year-old Antatico was gunned down by motorcycle-riding men which was reportedly captured on dashcam footage but authorities have yet to identify his assailants.

In a statement, the IBP chapter characterized the attack as an assault on democratic principles.

Antatico was a former legal officer for the National Irrigation Administration (NIA) in Northern Mindanao who was known for exposing alleged irregularities within the agency.

‘The IBP Misamis Oriental Chapter expresses its grave concern over Mr. Antatico’s untimely death and the possibility that his murder may have been connected to his efforts to expose alleged wrongdoing in some government offices,’ the statement said.

‘Any attack on a person seeking accountability is an attack on the rule of law itself, and we cannot allow fear and impunity to erode the foundations of justice and public service,’ it added.

The lawyers’ group also urged authorities to immediately conduct an impartial investigation of the case and bring the perpetrators before the bar of justice.

‘Authorities must pursue every lead, including the potential connection between Mr. Antatico’s exposés and his killing, and ensure that both the perpetrators and any masterminds are held fully accountable, regardless of position or influence,’ the IBP said.

The IBP chapter also called on individuals who may have knowledge about irregularities in the government to come forward and seek assistance from its office.

‘Pursuant to the IBP’s mandate to promote the rule of law and uphold the public interest, the Chapter stands ready to assist in efforts to address governance-related concerns,’ the group stressed.