Category: Business Mirror

THE Bureau of Corrections (BuCor) on Thursday expressed full support for the procedural changes being considered by the Supreme Court, including the use of house arrest, medical confinement, and community-supervised release as alternatives to detention.

The legal alternatives to detention were raised by Chief Justice Alexander Gesmundo in his speech at the recently concluded Justice Sector Coordinating Council (JSCC) Summit. The proposed measures seek to address the country’s persistent detention and prison congestion while ensuring that justice is administered humanely and efficiently.

Corrections Director General Gregorio Pio Catapang Jr. said the bureau is ‘very much on the same page’ with the Supreme Court, particularly regarding the inclusion of elderly and seriously ill offenders in alternative arrangements.

Catapang said the proposed reforms are consistent with the bureau’s position on compassionate release for offenders who are elderly, sick, or otherwise qualified for humanitarian consideration after serving the minimum period of their sentence.

‘This is no different from our proposal granting medical parole to elderly persons deprived of liberty aged 70 and above, those who are terminally ill, and individuals who are severely incapacitated,’ Catapang said.

Under the proposed framework, qualified persons deprived of liberty (PDLs) may be allowed to serve the remainder of their sentence outside traditional prison facilities, subject to safeguards and monitoring. Such arrangements may include medical parole, home confinement, or community supervision, depending on the individual’s health condition, age, risk level, and other relevant circumstances.

Catapang pointed out that several countries, including the United States, the United Kingdom, and Canada, have adopted legal frameworks for compassionate or medical parole. These systems recognize that continued incarceration of terminally ill or severely incapacitated individuals may constitute inhumane treatment and no longer serve a legitimate penal objective.

Based on Bucor data provided by its Directorate for Health and Welfare Services (DHWS), as of August this year, approximately 6,074 elderly PDLs were recorded, 55 of whom were terminally ill.

Mynt Inc., the parent of fintech giant GCash, on Thursday said it has drawn commitments from several cornerstone investors both here and abroad, as the company broadens its shareholder base.

Mynt said the aggregate commitments from over 20 cornerstone investors would cover the entire institutional offer tranche of the IPO, subject to any reallocation between tranches of the offer.

The group also marks notable new and returning institutional participation in the Philippine capital markets, including Albizia Capital Pte. Ltd., Amundsen Investment Management and HSBC Global Asset Management (UK) Ltd. making their first cornerstone investment commitment in the Philippines, and Ninety One North America Inc. and Ninety One UK Ltd. participating as cornerstone investors in Southeast Asia for the first time.

‘We believe this reflects confidence in our position as the nation’s number one finance super app, our track record of profitable growth, and the significant market opportunity that lies ahead of us,’ Martha Sazon, president and CEO of Mynt.

‘Building a high-quality, diversified and long-term shareholder base is important to us, not just for the IPO, but for Mynt’s next chapter as a public company. The breadth and quality of cornerstone investor participation from both global and domestic institutions speaks to the strength of Mynt today and the opportunity ahead,’ Evelyn Ng, the company’s CFO, said.

Other global cornerstone investors include BlackRock Inc., Capital Research and Management Co., FIL Investment Management (Hong Kong) Ltd., International Finance Corp., Lazard Asset Management LLC, NS Partners Ltd., RWC Asset (US) LLC, RWC Asset Management LLP, Schroder Investment Management Ltd., Schroder Investment Management (Singapore) Ltd. and Schroder Investment Management (Hong Kong) Ltd., Surveyor Capital (a Citadel company), T. Rowe Price International Ltd. and T. Rowe Price Associates, Inc.

Domestic cornerstone investors include ATRAM Trust Corp., BPI Asset Management and Trust Corp., China Bank Capital Corp., Metrobank Bank and Trust Co.-Trust Banking Group, Philequity Management Inc. and RCBC Capital Corp.

Eric Jurado, hedge fund manager for the SeA (Southeast Asia) Focus Portfolio, said one of the ‘most attractive aspects’ of Mynt GCash is that it has already built something that would be difficult and expensive to replicate from scratch.

As of June, GCash has about 41.5 million monthly active users, or more than a third of the country’s population and half of the country’s adults.

He said a competitor would not simply have to create another mobile wallet-it would have to build a comparable customer base, merchant network, financial infrastructure, brand, regulatory capabilities and ecosystem of financial products.

Jurado said GCash is no longer just a digital remittance tool, expanding into the ‘land-and-expand’ strategy, capturing consumers through simple, high-frequency services like peer-to-peer transfers, then seamlessly introducing them to higher-margin financial products.

‘Go deep by increasing engagement and the number of financial services each customer uses. Go wide by bringing more Filipinos, including those overseas, consumers, merchants, and businesses into the ecosystem,’ he said.

‘That means execution matters. Competition matters. Credit quality matters. Regulation matters. And, perhaps most importantly, earnings growth matters… It is about whether one of the Philippines’ most successful digital platforms can continue turning its enormous user base into a long-term earnings-compounding machine.’

THE Philippines secured access to up to £5 billion, or about P419.9 billion, in financing support from the United Kingdom to fund social infrastructure and other development projects, according to the Department of Finance (DOF).

The funding was clinched after a signing of a new government-to-government (G2G) partnership by Finance Secretary Frederick D. Go, UK Trade Minister Lord Anas Sarwar and UK Ambassador Sarah Hulton OBE.

‘The G2G Partnership comes at an important time for the Philippines as it continues its transition to an upper-middle-income country,’ the DOF said in a statement it issued last Wednesday. ‘It is important to sustain productivity and investment, create more and better jobs, strengthen economic resilience, and promote inclusive and equitable economic growth.’

Both governments will identify and advance strategic and feasible projects that are in line with the Philippines’s development agenda once a framework has been established, the DOF said.

So far, energy transition, sustainable transport, water and sanitation, aviation and social infrastructure are a few possible areas of cooperation.

The two governments have already begun discussions on potential projects through the Infrastructure Sectoral Working Group of the Philippines-UK Joint Economic and Trade Committee.

‘We are opening new opportunities to bring financing, expertise, and partnership to projects that matter to the Filipino people. This Government-to-Government Arrangement gives us a practical framework for financial and development cooperation,’ Go was quoted in the statement as saying.

UK Trade Minister Sarwar said the agreement would allow the Philippines to access UK expertise, goods, services and financing while creating opportunities for British companies to participate in Philippine projects.

‘Delivering on our recently published G2G Strategy, this partnership shows the UK building modern trade relationships that will deliver tangible economic benefits-jobs and growth-both at home and abroad,’ Sarwar said.

The UK is also a member of the Luzon Economic Corridor, where the two countries can combine financing, technical expertise and private-sector investment for projects involving connectivity, energy systems, digital infrastructure and advanced manufacturing supply chains, the DOF said.

he numbers are staggering, and they demand our attention. Nearly half of all our 15-year-old learners-47 percent, to be precise-report experiencing bullying at least several times a month. This is not merely a statistic from the latest Programme for International Student Assessment (PISA); it is a damning indictment of the learning environments we have allowed to persist. When our students experience bullying at more than twice the OECD average of 20 percent, we are no longer looking at an isolated problem but a systemic crisis that threatens the future of an entire generation. The Department of Education’s response through Department Order No. 006, s. 2026, formally titled the Guidelines on Ensuring a Safe and Motivating Learning Environment (ESMLE), represents a necessary step forward. The expanded mandate giving schools authority over incidents occurring within a two-kilometer radius of campus is particularly noteworthy. By extending jurisdiction to nearby convenience stores, internet cafes, and sidewalks, policymakers acknowledge a critical reality: bullying does not respect school boundaries. A student harassed at a nearby internet cafe faces the same psychological trauma as one bullied in the classroom, and the school’s responsibility to protect learners must extend to these spaces.

However, policy on paper means little without implementation and cultural change. The Department of Justice’s Student Awareness Seminar at Bagong Tanyag Integrated School, led by Undersecretary Ian Norman E. Dato, offers a template for what meaningful intervention looks like. By bringing together students, faculty, and parents, the DOJ recognizes that combating bullying requires a multi-agency, multi-stakeholder approach. The involvement of local government units, law enforcement, and social welfare agencies creates a safety net that schools alone cannot provide.

What distinguishes this current approach is its emphasis on restorative rather than purely punitive justice. Undersecretary Dato’s explanation that penalties should ‘straighten the path’ rather than destroy a child’s future represents a mature understanding of adolescent development. Bullies are often themselves products of trauma, insecurity, or inadequate emotional regulation. Addressing the root causes of aggression-while still holding perpetrators accountable-offers the best hope for breaking cycles of violence.

The DOJ Action Center’s trauma-informed, victim-centered protocols also deserve praise. Too often, reporting mechanisms retraumatize victims through bureaucratic indifference or public exposure. By guaranteeing confidentiality and providing access to legal counsel and psychosocial support through the Department of Social Welfare and Development, the government is finally treating bullying victims with the seriousness their trauma demands.

Yet we must remain vigilant. Bagong Tanyag Integrated School reports almost zero bullying incidents-a commendable achievement that should be studied and replicated. But this is one school among thousands. The DOJ seminar was, by their own admission, a ‘random initiative’ without immediate plans for expansion. When nearly half of our teenagers face regular harassment, random initiatives are insufficient. These programs must become systematic, mandatory, and funded.

The most powerful tool against bullying may ultimately be the simplest: kindness. Principal Donnabel Balantac’s observation that ‘nothing is diminished or wasted when we are kind’ cuts to the heart of the matter. Building a culture of compassion requires daily reinforcement, not just annual seminars. It requires teachers and parents to serve as the first line of defense, creating environments where students feel safe to speak up without fear of retaliation.

The PISA data has exposed the scope of our failure. The ESMLE guidelines and DOJ outreach programs show we are beginning to take responsibility. But policies and seminars are only the beginning. Every stakeholder-educators, parents, government officials, and students themselves-must commit to transforming our schools from places of fear into sanctuaries of learning.

MEMBERS of Bagong Alyansang Makabayan (Bayan) and other progressive groups protested outside the House of Representatives on Wednesday as lawmakers deliberated on the proposed P10.16-billion budget of the Office of the President (OP) for 2027, questioning the allocation of P4.55 billion for confidential and intelligence expenses.

Bayan also criticized what it described as the ‘railroading’ of the President’s budget, arguing that an allocation in which nearly half would go to confidential and intelligence funds warranted greater scrutiny from lawmakers.

‘The hasty approval of the President’s budget is reminiscent of the Marcos dictatorship which reduced Congress into a mere rubber stamp institution,’ Bayan Secretary General Raymond Palatino said in a statement.

The protest coincided with the House plenary deliberations on the OP budget, which were terminated on Wednesday.

Of the proposed P10.16-billion allocation, P2.25 billion is earmarked for confidential expenses and P2.3 billion for intelligence expenses. Combined, the P4.55 billion accounts for nearly 45 percent of the OP’s proposed budget.

The amount is unchanged from this year’s allocation for confidential and intelligence funds.

The proposed OP budget itself, however, is substantially smaller than its P28.03-billion allocation for 2026.

Bataan Rep. Albert Garcia, who sponsored the OP budget during the plenary deliberations, said the proposed allocation is 64.02 percent lower than this year’s level, mainly because of the completion of locally funded projects related to the country’s hosting of Asean 2026.

Garcia said the P10.16-billion allocation represents only about 0.14 percent of the proposed P7.2-trillion national budget.

Bayan’s criticism focused not only on the size of the confidential and intelligence funds but also on what it described as questionable priorities in the proposed national spending program.

Palatino accused Malacañang and Congress of ‘collusion’ in embedding pork barrel and other questionable items in the proposed 2027 General Appropriations Bill.

He also pointed to more than P107 billion proposed for flood-control projects even as investigations into alleged irregularities involving infrastructure projects continue.

‘We should make sure that Marcos and his allies are not given new opportunities to legitimize the kickbacks they are getting from pork barrel projects,’ Palatino said.

Bayan also criticized what it described as inadequate government support for agriculture, health and education.

The proposed P107.4-billion flood-control allocation, however, is the lowest since 2019 and follows the removal of locally funded flood-control projects from the 2026 budget amid investigations into alleged anomalous projects.

The Department of Budget and Management has said the funding is intended largely for the maintenance, repair and rehabilitation of existing flood-control infrastructure and the completion of unfinished projects.

The administration has also defended the President’s confidential and intelligence funds.

Executive Secretary Ralph Recto earlier said the President needs confidential funds in his role as chief executive, particularly in maintaining law and order, while intelligence funds support his responsibilities as commander in chief and on matters involving national security.

Malacañang has also maintained that the OP submits the required reports on the use of the funds to Congress and the Commission on Audit.

Government-wide, P10.77 billion in confidential and intelligence funds is proposed for 2027, down from P11.82 billion this year. Of the proposed amount, P4.37 billion is for confidential expenses and P6.41 billion for intelligence expenses.

The OP’s P4.55-billion allocation would therefore account for more than 42 percent of all confidential and intelligence funds proposed across the national government.

Bayan maintained that such allocations deserve closer congressional scrutiny, particularly as lawmakers examine a P7.2-trillion national budget amid continuing concerns over the use of public funds.

GMA Lifestyle, GMA Network’s online platform featuring engaging content on food, health, fashion, beauty and more, continues to connect with its audiences through its podcast, the Young Achievers Series, which recently climbed to No. 18 on Spotify Philippines’ Top Podcasts chart.

The series’ latest episode, ‘The Crunch Heard Around the World,’ features food content creator Abi Marquez, popularly known as the ‘Lumpia Queen.’

Marquez gained popularity for her creative takes on the Filipino favorite lumpia. In her interview with GMA celebrity chef and host Jose Sarasola, Abi shares her personal insights on the growing momentum of Filipino cuisine among local and global culinary enthusiasts. The episode is now available for streaming.

Meanwhile, the Young Achievers Series continues to gain traction, climbing to No. 18 on Spotify Philippines’ Top Podcasts chart from its previous position at No. 31.

The podcast’s episode featuring Filipino Olympian Carlos Yulo also made it to the platform’s Top Episodes Chart, peaking at No. 26.

Catch the latest episode featuring Abi Marquez on GMA Lifestyle on September 15. Viewers can also revisit previous episodes on www.gmanetwork.com and the GMA Lifestyle Facebook page.

THE chairman of the House Committee on Ways and Means has filed a bill seeking to increase excise taxes on luxury automobiles, expand the coverage of non-essential goods subject to excise tax, and remove perfumes and toilet waters from the list of taxable goods.

Marikina Rep. Miro S. Quimbo, the panel chairman, filed House Bill 11465 to strengthen the taxation of luxury and other non-essential consumption. The bill states that the proposed changes are intended to promote a more progressive tax system by requiring individuals with greater capacity to pay to contribute a larger share toward government revenues.

The bill amends Sections 149 and 150 of the National Internal Revenue Code (NIRC) of 1997, as amended.

‘The measure aims to achieve greater tax progressivity and promote a more equitable distribution of wealth since luxury and high-value goods are generally purchased by consumers with greater disposable income and capacity to pay,’ Quimbo said.

He added that increasing taxes on high-value discretionary purchases may discourage conspicuous consumption and encourage the allocation of resources toward savings, investments, or socially productive expenditures.

Under HB 11465, starting January 1, 2027, the excise tax structure for automobiles would be adjusted by creating higher tax brackets for luxury vehicles.

Automobiles priced above P4 million up to P8 million would be subject to a 50-percent ad valorem tax, while vehicles priced above P8 million would be subject to a 75-percent tax. Vehicles priced at P4 million and below would retain their existing excise tax rates.

Under the proposed automobile excise tax schedule, vehicles with a net manufacturer’s price or importer’s selling price of up to P600,000 would continue to be subject to a 4-percent excise tax, while those priced above P600,000 up to P1 million would remain covered by a 10-percent tax rate. Automobiles priced above P1 million up to P4 million would continue to be taxed at 20 percent.

Quimbo said the proposed increase in automobile excise taxes is expected to generate approximately P3.91 billion in additional annual revenue, which may be used to support government priority programs without increasing the tax burden on ordinary taxpayers.

The bill also proposes raising the excise tax on non-essential goods under Section 150 of the NIRC from 20 percent to 25 percent. It expands the coverage of the tax to include luxury recreational assets such as yachts, jet skis, speedboats, sailboats, motorboats, aircraft, planes, jets, and helicopters acquired for pleasure, private use, or sport.

The measure clarifies that ordinary passenger vehicles, motorcycles, and commercial vehicles such as trucks and cargo vans would not be affected by the proposed increase. According to the bill’s explanatory note, the tax adjustments are focused on a narrow segment of high-value luxury transactions.

At the same time, HB 11465 removes perfumes and toilet waters from the coverage of the excise tax on non-essential goods.

The bill also notes that removing perfumes and toilet waters from the tax coverage would eliminate an existing tax on personal-care purchases while allowing the government to focus excise taxation on luxury consumption.

‘Strengthening the taxation of luxury consumption constitutes a practical means of enhancing the progressivity of the Philippine tax system,’ Quimbo said.

The lawmaker added that the proposed amendments would allow the government to access additional revenue sources that are identifiable and administratively manageable while ensuring that goods used for essential needs, livelihood, public transportation, and productive purposes are not unnecessarily burdened.

DEPARTMENT of Public Works and Highways (DPWH) Davao Regional Director Engineer Juby Cordon on Thursday appeared before the National Bureau of Investigation (NBI) in connection with the ongoing investigation into the multi-billion flood control projects in that region.

Cordon arrived at the NBI at around 1:00 p.m. and submitted 10 boxes containing documents pertaining to 47 flood control projects which have been flagged by the agency for alleged anomalies.

NBI Director Melvin Matibag said they would thoroughly review all the documents submitted to determine whether there is sufficient basis to file charges.

‘Engineer Cordon is here, together with other employees, and they have brought the documents we requested. About 10 boxes of documents which we will examine one by one to determine what really happened with these projects,’ Matibag told reporters.

‘If there is no evidence to support the filing of a case, we will also make an announcement,’ he added.

Matibag earlier claimed that there were ‘ghost’ and ‘substandard’ flood control projects in the region including Davao City.

The NBI director earlier said around P1.9 billion in government funds were spent for the 47 projects.

However, Matibag clarified yesterday that the projects was actually worth P7 billion.

‘It turns out that the P1.9 billion we were looking for the projects awarded to just one contractor was actually P7 billion from 2018 to 2024, So after this, we will also issue a subpoena for documents to the Commission on Audit [COA],’ the NBI chief said.

The NBI director earlier said it would subpoena at least 51 individuals from Genesis88 Construction, Gemma Construction, Agong Construction, the DPWH, and the COA in its investigation.

Davao Rep. Paolo Duterte, in a statement issued several days ago, welcomed the NBI investigation but called on Matibag not to be selective in its investigation into the anomalies involving flood control projects.

He also asked whether Matibag would conduct an investigation on the flood control projects in San Pedro, Laguna, the bailiwick of his wife Laguna Rep. Ann Matibag.

In response, Matibag said the NBI is ready to conduct an investigation if Duterte will file a case and present any evidence.

THE country’s information technology and business process management (IT-BPM) industry is targeting nearly $45 billion in revenue next year even as employment growth slows-a change toward higher-value work that requires fewer but more capable workers.

The Information Technology and Business Process Association of the Philippines (IBPAP) expects industry revenue to reach $42.3 billion this year and about $44.9 billion in 2027.

Employment, meanwhile, is projected to rise to 1.94 million full-time workers this year and nearly 2 million next year.

According to IBPAP President and CEO Jack Madrid, the widening gap between revenue and employment growth is partly being driven by artificial intelligence (AI) augmenting the value of work performed by Filipino IT-BPM professionals.

‘The value of the work is the same-if not higher-but requiring less people to do it,’ Madrid said during a press conference at the International IT-BPM Summit 2026 in Parañaque on Thursday.

Automation’s potential impact was illustrated by saying that work previously requiring 100 people could, hypothetically, be completed by 70 workers through greater use of it. Meaning, the industry can continue increasing revenue without adding workers at the same pace.

For the IBPAP chief, however, slower employment growth does not mean the industry needs fewer people overall. Instead, the constraint is whether the country can supply workers with the capabilities needed for more complex and technology-driven work.

‘Now, do we want more? Yes, we want more. What’s the constraint? Capability,’ Madrid explained. ‘What’s the solution to that? Let’s all be better at what we do. Domain expertise, AI fluency, accept that we must learn continuously. That’s the equation.’

Based on the industry’s revised medium-term outlook released in July, IBPAP now projects 2028 revenue of between $43.3 billion and $50.5 billion, with employment ranging from 1.85 million to 2.14 million full-time workers.

The new projection replaces its 2022 roadmap, which had targeted $58.9 billion in revenue and 2.5 million workers by 2028.

Whether the Philippines can reach the upper end of its 2028 revenue range, Madrid said the industry’s ability to meet demand for skilled workers will be the biggest factor determining it.

‘I think being able to meet the demand for talent, I think, is probably the number one factor,’ he said.

The second major concern is the ease of doing business, particularly uncertainty and inconsistency that could affect investment decisions, Madrid said.

‘Investors do not like uncertainty. They do not like inconsistency,’ he said, adding that the Philippines still has areas in its business environment that need to be addressed.

Infrastructure remains another consideration, although Madrid said the industry’s expansion beyond Metro Manila and Cebu indicates that digital and physical infrastructure is improving in emerging IT-BPM locations.

INDIA sees the Philippines as a partner rather than a competitor in the information technology and business process management (IT-BPM) industry, with the two countries already working together in areas that span the global services and maritime sectors.

The Philippines and India are established players in the global outsourcing industry, with the latter generally recognized as the world’s largest IT-BPM market and the former as another major services hub.

‘In fact, there are many areas where we are collaborating with each other,’ Indian Ambassador to the Philippines Shri Harsh Kumar Jain told reporters on the sidelines of the Association of Southeast Asian Nations (Asean)-India business forum in Makati on Wednesday.

‘Of course, IT-BPM industry is one which is a very successful example of collaboration between the two countries,’ he added.

In June, for instance, the two countries identified information and communication technologies, IT-BPM and artificial intelligence as areas for deeper cooperation under their Joint Working Group on Trade and Investment, alongside infrastructure, energy and pharmaceuticals.

They even elevated their bilateral relationship to a strategic partnership in August 2025 during President Ferdinand R. Marcos Jr.’s state visit to India. Among the agreements signed during the visit was a memorandum of understanding on cooperation in digital technologies.

Jain also pointed to Indian and Filipino seafarers and offshore workers as another example of the two countries’ workforces operating alongside each other in global industries. Further, he mentioned room for greater cooperation in agriculture and manufacturing.

The envoy’s comments come as Manila and New Delhi prepare to explore a bilateral preferential trade agreement (PTA), which could provide another avenue for expanding commercial ties.

The proposed PTA would initially cover trade in goods, but India wants to eventually broaden its scope to services.

‘It’s a matter of discussion and negotiation. But to begin with, I think it’s a preferential trade agreement in goods, but we would want to also broaden it,’ Jain said.

The Philippines and India have already agreed on the terms of reference for the negotiating committee. Formal negotiations are expected to begin after the ongoing review of the Asean-India Trade in Goods Agreement (AITGA) is completed.

Jain said he expects the review to conclude next year, while Trade Undersecretary Allan B. Gepty has separately said the Philippines hopes to begin PTA negotiations with India in 2027.

For India, a bilateral agreement could allow both sides to make commitments beyond those under the broader Asean-India trade framework.

‘When we have a trade agreement with the entire Asean, it is the least common denominator of all the countries,’ Jain said.

‘But now when we engage in bilateral trade agreements with the Philippines, we can be more ambitious and we can look for more concessions and bringing more clients into this differential trade agreement,’ he added.

Jain said bilateral trade between India and the Philippines currently stands at about $3.9 billion, compared with around $128 billion in India-Asean trade.