Category: Business Mirror

MICRO, small and medium enterprises (MSMEs) in Bicol can now tap a suite of artificial intelligence (AI) applications for business planning, pricing, regulatory compliance and online marketing, after the Department of Information and Communications Technology (DICT) rolled out its MSME Digital Assistant in Naga City.

The agency, likewise, committed to underwrite the connectivity requirements of Naga City’s disaster resilience infrastructure and to study support for the local government’s planned Command and Control Center and Intelligent Surveillance System.

DICT Undersecretary and Chief of Staff Faye Condez-de Sagon, who presented the tools, said the technology is meant to close the capability gap that keeps small enterprises from scaling.

‘Harnessing AI will give Filipino entrepreneurs, especially small business owners, a competitive advantage. This stack will definitely empower them to grow, expand, and provide more job opportunities to other Filipinos,’ she said.

The MSME Digital Assistant bundles five applications built around the pain points most frequently cited by small businesses.

KaPlano handles business planning, while KaSunod guides users through government compliance requirements. KaPresyo assists with product pricing, and KaLinaw translates contracts and official documents into plain Filipino. Rounding out the suite is KaClick, a content-generation tool for social media posts and online marketplace listings.

The rollout falls under Magkasangga, a joint undertaking of the DICT and the Land Bank of the Philippines that pairs digital tools with credit access.

Condez-de Sagon also met with Naga City Mayor Leni Robredo to map out the scope of DICT assistance for the city’s digital transformation agenda, which produced the commitments on connectivity and the surveillance and command facilities.

‘We want technology to become something that MSMEs and LGUs can actually use to solve everyday problems, improve services, and create opportunities for their communities,’ Condez-de Sagon said.

ACEN Corp. is developing a nearly one gigawatt (GW) renewable energy (RE) hub in Zambales, utilizing solar and battery storage projects.

The RE portfolio includes 948 megawatts (MW) of solar capacity and 1,660 megawatt hour (MWh) of battery storage to enhance grid stability and energy security.

These are composed of the 585-MW SanMar Solar project on former lahar-covered land and the 363-MW Palauig Solar. Of which, approximately 450 MW is already operational, with the remaining capacity currently under construction and expected to be completed within 2027.

To further enhance the reliability and dispatchability of its RE portfolio in Zambales, ACEN recently commenced construction of 1,660 MWh of battery energy storage systems (BESS) across its solar facilities in the province.

The BESS will enable RE generated during periods of high solar output to be stored and delivered when electricity demand is highest, including during evening peak hours and periods of reduced solar generation, helping improve grid stability, support the increasing penetration of RE in the country.

Collectively, ACEN’s solar facilities in Zambales are expected to generate approximately 1,400 GWh of clean electricity annually once fully operational, producing enough RE to power around 340,000 households while reducing dependence on imported fossil fuels.

The company has also completed 14 km kilometers of transmission infrastructure connecting its RE facilities to the Luzon grid, with an additional 22 kilometers currently under construction, further strengthening the country’s transmission network and supporting the growing demand for clean power.

Throughout the development of its Zambales projects, the power firm prioritized local employment, with approximately 80 percent of the project’s workforce coming from surrounding communities.

‘At ACEN, we believe renewable energy projects should create value far beyond the electricity they generate,’ said Miguel de Jesus, Managing ACEN Director and COO for Philippine Development and Operations.

‘In Zambales, we are not only building one of the country’s largest renewable energy hubs-we are investing in infrastructure, creating local jobs, supporting indigenous communities, and strengthening the country’s long-term energy security.’

ACEN, the Ayala Group’s energy platform, has committed to achieving 20 GW of RE capacity by 2030 and reaching net-zero greenhouse gas emissions by 2050. It is actively accelerating the energy transition across the Philippines, Australia, Vietnam, and India.

Last May, ACEN reported that its consolidated net income jumped by 50 percent year-on-year to P2.9 billion for the first three months of 2026.

Its total attributable renewable energy output reached 2,230 GWh, up 32 percent, reflecting contributions from newly operationalized international assets in 2025 and the substantial restoration of the company’s wind assets in Ilocos Norte.

TREASURY bill (T-bill) yields dipped across all tenors on Monday on strong demand despite lingering inflation risks on expectations oil prices are likely to stay elevated.

Combined tenders for the 91-, 182- and 364-day debt papers reached P134.519 billion, or 2.6 times the P50 billion offering of the Treasury. This pushed average T-bill yields down week-on-week.

However, Jonathan A. Ravelas, senior adviser at Reyes Tacandong and Co., offers a caveat: ‘I would caution against reading this as a signal of an aggressive decline in interest rates.’

Ravelas added he sees monetary authorities could remain on their toes as ‘the inflation outlook remains challenging.’

He noted that geopolitical tensions could keep oil prices higher while climate-related disruptions could hurt agricultural output and push food prices higher. This situation, Ravelas said, could keep the Bangko Sentral ng Pilipinas (BSP) cautious and data-dependent, as it will decide on its key policy rates on August 27.

Inflation is expected to rise in July, ending two consecutive months of easing in May and June, analysts at UnionBank of the Philippines said in its latest MktsFocUs report. According to the report, the inflation print reflects higher oil prices, a weaker peso that raises import costs, and firmer rice prices following the government’s higher procurement price signals.

‘Markets may be expecting some easing, but there is still a credible risk that policy rates could remain elevated or even rise by 50 to 75 basis points should inflation pressures re-emerge,’ Ravelas said.

‘For investors, the key takeaway is to stay defensive, maintain portfolio flexibility,’ he added.

Yields on the 91-day T-bills ranged from 5.023 percent to 5.094 percent. This averaged at 5.059 percent, down by 4.5 basis points from 5.104 percent in the previous auction last week.

The 182-day T-bills had rates ranging from 5.575 percent to 5.688 percent. Its average yield fell by 1.4 basis points to 5.181 percent, versus last week’s 5.685 percent.

Meanwhile, the 364-day T-bills fetched an average rate of 5.950 percent with a yield range of 5.9 percent to 5.973 percent. This is lower by 1.6 basis points than the notes’ average yield of 5.966 percent in the Treasury’s previous tender.

The auction committee raised its full programmed amount of P50 billion from the sale of the short-term debt papers, generating P20 billion each from 91-day and 182-day notes and P10 billion from 364-day government securities.

This Tuesday, the Treasury is set to auction 3-year and 20-year Treasury bonds to borrow as much as P50 billion from the domestic debt market.

Gross borrowings of the government surged by 119.54 percent to P579.569 billion in June from P263.991 billion in the same month last year. This brought total borrowings to P1.821 trillion in the first semester of the year.

The government plans to raise a total of P2.682 trillion this year, following a 70:30 borrowing mix.

AUSTRALIA reaffirmed its commitment to stand alongside the Philippines and Southeast Asia as a reliable partner in security, trade, energy and development, with Australian Foreign Minister Penny Wong stressing that a rules-based regional order and stronger Association of Southeast Asian Nations (Asean) cooperation are essential in navigating growing geopolitical uncertainty.

Speaking at a foreign policy forum hosted by the Australian Embassy, De La Salle University, the Yuchengco Center and the Foreign Service Institute Philippines late last week, Wong said the relationship between Australia and the Philippines has reached ‘a historic high point,’ built on eight decades of diplomatic ties and strengthened by shared values, common interests and deep people-to-people connections.

She said Australia sees its future as inseparable from that of Southeast Asia, emphasizing that cooperation with Asean is not merely a strategic choice but a necessity.

‘Our future depends on the countries of Asean. And the countries of Asean can depend on Australia,’ Wong said.

Food, energy, trade

WONG underscored Australia’s role as a dependable supplier of food and energy to the Philippines, illustrating how economic ties have become part of everyday Filipino life.

She noted that Australia supplies around one-third of the Philippines’ liquefied natural gas requirements, half of its wheat imports, and nearly one-fifth of its beef imports.

‘So when you have a plate of bistek Tagalog or kaldereta, there’s a good chance it has its origins in an Australian cattle station,’ she said.

Beyond food security, Wong said growing trade between Australia and Asean is helping build a shared future founded not only on commerce but also on the international rules governing maritime trade and navigation.

She emphasized that middle powers such as Australia and the Philippines benefit from a stable international system where countries, regardless of size, can make sovereign decisions without coercion. ‘We don’t want any single power to set the terms of our future. What we seek is a balance of power, where no country dominates and no country is dominated,’ Wong said.

International law

IN her speech, Wong underscored defending the rules-based international order, particularly the United Nations Convention on the Law of the Sea (Unclos), which she described as fundamental to regional peace and prosperity.

She said international law provides countries with greater confidence, agency and freedom to pursue their national interests peacefully.

Marking the 10th anniversary of the landmark 2016 South China Sea arbitral ruling, Wong reiterated Australia’s consistent support for the decision.

She emphasized that the award remains a clear, unanimous and binding legal ruling and urged both the Philippines and China to abide by it.

Wong stressed that respect for Unclos has become even more critical as strategic competition intensifies across the Indo-Pacific. ‘We certainly do not want to see any actions or arrangements that undermine Unclos or any state’s rights under Unclos,’ she said.

She also assailed the destabilizing actions in the South China Sea, including dangerous conduct against Philippine, Vietnamese, Malaysian and Indonesian vessels. Wong, likewise, expressed concern over China’s recent test of a nuclear-capable submarine-launched ballistic missile, saying the lack of transparency surrounding the launch heightened the risks of misunderstanding and escalation in the region.

Australia, she said, will continue advocating for disputes to be managed peacefully and in accordance with international law.

Security cooperation

TO reinforce regional stability, Wong announced expanded Australian investments in maritime security cooperation across Southeast Asia.

Australia will provide AU$160 million (approximately P6.8 billion) over the next decade to strengthen maritime cooperation with Southeast Asian partners, including the Philippines.

The funding will support maritime domain awareness, governance reforms, marine environmental protection and regional resilience.

For the Philippines specifically, Australia is doubling its bilateral maritime assistance through a new AU$18 million (about P770 million) four-year package.

An additional AU$10 million (around P427 million) will fund advanced drone technology and operator training for the Coast Guard (PCG).

Wong, also senator for South Australia since 2002, said the same principles governing freedom of navigation should also apply in cyberspace and emerging technologies.

She noted Australia’s recently announced national artificial intelligence framework and expressed interest in working with Asean to ensure AI contributes to regional development while minimizing risks.

Asean at the center

WONG highlighted Asean’s central role in maintaining regional peace, particularly as the Philippines assumes the Asean chairmanship this year while the region commemorates the 50th anniversary of the Treaty of Amity and Cooperation (TAC).

She described the treaty as one of Southeast Asia’s defining diplomatic achievements, emphasizing that it demonstrated how dialogue, restraint and mutual respect can prevail over rivalry.

‘The TAC is architecture for living peacefully with difference,’ she said. Australia, ASEAN’s first dialogue partner and now a Comprehensive Strategic Partner, remains firmly committed to ASEAN-led regional mechanisms, Wong added.

She announced a new AU$11 million (about P470 million) Asean-Australia Political Security Partnership over the next five years to strengthen cooperation on conflict prevention, regional security and policy dialogue.

The initiative includes efforts to develop early warning mechanisms aimed at preventing disputes from escalating into armed conflict.

Investing in shared prosperity

BEYOND security, Wong outlined Australia’s long-term economic engagement with Southeast Asia.

She noted that two-way Australia-Asean trade has reached nearly AU$200 billion, while investments have approached AU$300 billion.

Australia is implementing its Southeast Asia Economic Strategy to 2040, which has already generated more than AUD4 billion in new Australian investments across the region.

Among the projects supported are renewable energy initiatives, including battery and solar storage developments in the Philippines and hydropower projects in Indonesia.

Australia is also supporting negotiations for Asean’s Digital Economy Framework Agreement, which Wong said could unlock a digital economy worth AU$2 trillion while promoting responsible technological development.

She stressed that economic resilience, clean energy and digital transformation have become integral components of regional security.

Bayanihan

REFLECTING on the long history between the two countries, Wong said ties between Australians and Filipinos stretch back centuries-from Filipino pearl divers who worked in northern Australia during the late 19th century to the shared sacrifices made during World War II.

Today, she said, those historical links continue through migration, education, business, faith communities and cultural exchanges.

She highlighted Australia’s long-running Australia Awards Scholarship program, which has enabled generations of Filipinos to pursue higher education in Australia, while noting that Filipino Australians now comprise one of Australia’s largest and most vibrant migrant communities.

Quoting President Marcos, Wong described the bilateral relationship as one defined by both ‘bayanihan and mateship’-a partnership built through shared responsibility, sacrifice and mutual trust.

She said the Comprehensive Strategic Partnership established by President Marcos and Australian Prime Minister Anthony Albanese has significantly expanded cooperation in defense, maritime security, cybersecurity, counterterrorism, trade, investment and development.

As conflicts in the Middle East, strategic competition in the Indo-Pacific and rapid technological change reshape the international landscape, Wong urged countries not to retreat inward but to strengthen partnerships before crises worsen.

She argued that Australia’s development assistance, disaster response, infrastructure investments and support for regional peacebuilding demonstrate its commitment to remaining a dependable partner.

In conclusion, Wong returned to the Filipino concept of bayanihan, describing it as a fitting symbol for Australia’s vision of regional cooperation.

‘No one person, no single country can build what we need alone,’ she said.

‘So this is the spirit with which Australia comes to Manila-ready to lift more and to carry our share.’

Looking ahead, Wong said the next chapter of Australia-Philippines relations will be guided by the same principles that have sustained the partnership for the past 80 years: friendship, shared sacrifice, mutual respect and a common commitment to peace, prosperity and a stable Indo-Pacific.

THE National Bureau of Investigation’s Task Force Cash Cow is set to start on Monday its probe on the alleged irregularities over the use of P6.7 billion in government funds for the construction of sports facilities for the holding of the 2019 Southeast Asian Games (Seag).

NBI Director Melvin Matibag said at least seven individuals have been subpoenaed to appear either on Monday or Tuesday before the task force to shed light on the issue.

‘Right now, we issued subpoenas to about seven individuals. Some of them will appear on Monday, the others will appear on Tuesday,’ Matibag said.

The investigation will focus on the propriety of the transfer of P6.7 billion funds from the Department of Budget and Management (DBM), Philippine Olympic Committee (POC) and Philippine Sports Commission (PSC) to the Philippine Southeast Asian Games Organizing Committee (Phisgoc), a private organization, for the hosting of the Seag.

The NBI has also sought the assistance of the Commission on Audit (COA) and the Bureau of Internal Revenue (BIR) in determining where and how the funds to check its records to determine where and how the funds were utilized.

The investigation will also cover other funds that were allegedly received by Phisgoc from the private sector.

Matibag said the amount subject of the investigation may reach up to at least P10 billion.

Among those subpoenaed by the NBI were Phisgoc chairman Ramon Suzara, Chief Financial Officer Dexter Estacio and its Corporate Secretary John Lester Buenconsejo.

The NBI chief assured that its investigation will be based on evidence and not on political affiliations.

THE removal of systems loss charges from consumers’ electricity bills may reshape the power sector by forcing distribution utilities (DUs) and electric cooperatives (ECs) to absorb these costs which serve as a financial buffer against power theft and operational inefficiencies.

During his fifth State of the Nation Address (Sona), President Ferdinand Marcos Jr. demanded the immediate removal of systems loss charges by amending the Electric Power Industry Reform Act (Epira).

System loss accounts for electricity lost due to technical and non-technical factors. The Energy Regulatory Commission (ERC) has set a system loss cap of 6.5 percent for DUs and any losses beyond this limit cannot be passed on to consumers. This is part of the generation and transmission costs paid to generation companies and NGCP (National Grid Corporation of the Philippines).

Meralco’s system loss in the first quarter of the year stood at 5.72 percent, down from 5.85 percent year on year. Systems loss make up five percent of Meralco’s electric bill.

The numbers will be updated when Meralco releases its first half financial results on Wednesday.

‘I defer making a statement yet,’ said Meralco chief operating officer Ronnie Aperocho when sought for comment. He acknowledged that all DUs and even the NGCP will be affected. ‘Not only Meralco but the entire power industry including NGCP because there are transmission losses too. No utility will be spared,’ said Aperocho in an interview.

ERC chairperson Francis Saturnino Juan said via Viber that his office will comply with the law. ‘We will follow what is in the law. If it already prohibits the charging of system loss or recovery of costs associated with it, we will comply. The question is, are the utilities ready? Will their operations not suffer?’

Energy expert Atty. Jay Layug, president of the Developers of Renewable Energy for Advancement, Inc. (DREAM), said that while his group supports the President’s proposal to reduce electricity rates, an in-depth and calibrated study must be undertaken before considering eliminating systems loss.

He explained that systems loss has two components: Non-technical losses due to electricity theft and illegal tapping, jumper wires; and technical losses as energy turns into heat as electricity flows through long wires and transformers.

‘To eliminate the non-technical component, government-both local and national-must be vigilant and proactive in enforcing laws to avoid theft. On the technical part, any reduction will just likely result in higher per kilowatt hour price of electricity. But we should continue to consider all measures to reduce cost of electricity,’ he said.

The Power for People Coalition (P4P) said the elimination of system loss charges is a good step. ‘Epira must not only be amended in relation to system loss-its the whole policy landscape regulatory environment for electricity that needs overhauling.

‘We welcome the President’s declaration that renewables are a solution for our energy woes, with the energy crisis and our reality of frequent calamities just how critical solar-powered rooftops are for our people,’ it said.

NGCP doesn’t charge

The NGCP, for its part, does not charge consumers for technical system losses, which are unavoidable, natural losses minimized through specialized equipment. ‘NGCP minimizes these losses by installing and maintaining equipment such as capacitor banks and statcom,’ it said.

The grid operator also reiterated that non-technical losses, such as electricity theft, occur at the distribution level and are managed by distribution utilities, not NGCP.

In a separate development, the Philippine Resilient Electric Cooperatives and Consumers Alliance (PhilRECA) Party-List said: ‘We support proposals to eliminate VAT on system loss charges, as consumers should never be taxed on unutilized energy that never reached their homes.

‘However, we can support the complete elimination of system loss charges from electricity billing if and only if the national government directly shoulders these costs through a dedicated subsidy mechanism.’

THE Marcos Jr. administration is crafting a new tax reform package that seeks to recalibrate personal income taxes and provide relief measures to micro enterprises, targeted for passage before President Ferdinand R. Marcos Jr. leaves office in 2028.

Finance Secretary Frederick D. Go confirmed to the BusinessMirror on Sunday that the tax package, dubbed the ‘Progress Bill,’ will include adjustments to personal income tax and provide tax breaks for micro, small and medium enterprises (MSMEs).

The Finance chief withheld further details of the package, saying these would be disclosed after the annual State of the Nation Address on Monday, July 27, where Marcos is expected to outline his administration’s legislative and economic priorities for the final two years of his term.

‘The ‘Progress Bill’ is a combination of tax breaks, revenue-reducing measures and revenue-enhancing measures,’ Go said in an earlier press chat. The measure is intended to benefit lower-income earners and MSMEs, while the revenue-generating component could take the form of ‘sin,’ health or environmental taxes.

This comes after Marikina Second District Rep. Miro Quimbo, chairman of the House Committee on Ways and Means, said the panel would review the personal income tax system to determine whether current exemption thresholds and tax brackets still reflect prevailing economic conditions.

Quimbo said the committee will conduct a comprehensive review of personal income tax brackets, including raising the tax-exempt threshold and reassessing the treatment of bonuses, allowances, and other mandatory deductions. ‘The current personal income tax brackets took effect in 2018. Since then, inflation has significantly eroded purchasing power.’

‘There are many bills filed already. But this will be pushed by the President himself. We are united in pushing for tax reform that will ease the terrible effects of inflation on the salaried middle class,’ Quimbo said in a separate text message to the BusinessMirror.

‘These brackets have not been adjusted since 2018. The law contemplated a regular adjustment every five years. This is timely,’ he told this newspaper.

According to Quimbo, workers earning between P30,000 and P80,000 monthly have been particularly affected because increases in their nominal salaries have often failed to keep pace with the rising cost of food, housing, transportation, electricity, and other necessities.

‘For a salaried worker earning between P30,000 and P80,000 a month-the core of our urban middle class-this has meant that nominal income increases are often eaten up by higher living costs,’ he added.

‘The forthcoming hearings on personal income taxation will focus on the middle-income segment. They are compliant taxpayers but do not benefit from exemptions nor receive ‘ayuda’ while bearing a disproportionate share of withholding taxes,’ he said.

The lawmaker said the proposed tax package seeks to ensure that the country’s tax system remains responsive to economic conditions while maintaining the government’s fiscal capacity.

Quimbo stressed that the proposed reforms must balance tax relief with the government’s need to maintain sufficient revenues for education, health care, infrastructure, and social protection programs.

‘Our task in the next year and a half is to recalibrate the system as a whole-grounded in fairness, efficiency, and credibility,’ Quimbo said.

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.

One proposal seeks to increase the exemption threshold from P250,000 to P480,000 annually, while another House measure proposes raising it to P600,000. Other proposals call for relief from taxes imposed on petroleum products, electricity, water, toll fees, and selected basic commodities.

Quimbo said the objective is to provide meaningful relief to taxpayers without undermining the government’s fiscal position.

Earlier, Congressional Policy and Budget Research Department Executive Director Novel Bangsal said the Tax Reform for Acceleration and Inclusion Law had contributed significantly to government revenue performance.

‘Our monitoring shows that TRAIN has significantly contributed to overall revenue performance,’ Bangsal said.

The TRAIN Law, or Republic Act 10963, took effect on January 1, 2018. It exempted individuals with annual taxable income of P250,000 or below and reduced personal income tax rates for many wage earners. To offset the resulting revenue reduction, the law increased or introduced taxes on petroleum products, automobiles, sweetened beverages, and other goods.

THE Department of Energy (DOE) will offer 2,020 megawatts (MW) of solar rooftop, ground-mounted solar and 120 MW of run-of-river hydro technologies under the seventh round of the green energy auction (GEA-7) program.

Under the draft terms of reference (TOR) released over the weekend, the agency will offer these renewable energy (RE) capacities for Mindanao, a move meant to stimulate investments in the region, address growing energy demand, and promote a more balanced and resilient power system across the country.

The DOE is proposing to set a target of 500MW of installed capacity for ground-mounted solar + battery energy storage system (BESS) for each year starting 2027 to 2030. This integration is expected to improve dispatch ability and address the intermittency of solar energy, supporting a more secure and flexible power system.

For solar rooftop, the target installation capacity is five MW per year during the same period.

For hydro, a total of 120MW of capacity is targeted for delivery between 2028 to 2030.

The DOE wants these RE facilities to be RPS (renewable portfolio standards)-eligible. RPS is a market-based policy that mandates electricity suppliers to source an agreed portion of their energy supply from eligbile RE sources.

The draft TOR provides prospective developers with the necessary guidelines to participate in the auction. ‘The DOE is requesting all interested parties to submit comments and recommendations to the draft TOR for the seventh round of GEA. In line with this, a focused group discussion will be held on July 27, 2026,’ the DOE notice stated.

State-owned Development Bank of the Philippines (DBP) has signed an agreement with the premiere service institute of the Department of Science and Technology (DOST) to integrate hazard information into the Bank’s risk management, policies and processes, and optimize its lending and investment operations, a top official said.

DBP President and Chief Executive Officer Michael O. de Jesus said the agreement it signed with the Philippine Institute of Volcanology and Seismology (PHIVOLCS) would allow the Bank to access and harness the agency’s hazard information platform, GeoRiskPH, to ensure evidence-based credit evaluations and enable data-driven business decisions.

‘We view this partnership with PHIVOLCS as a tangible manifestation of how government agencies can strengthen their collaboration and leverage shared expertise in advancing a safer, more resilient, and sustainable Philippines,’ de Jesus said.

DBP is the ninth largest bank in the country with total assets of P1.041 trillion and provides credit support to four priority sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.

GeoRiskPH, a science-based platform led by PHIVOLCS, is a centralized government initiative designed to provide real-time data and risk analysis to support geohazard mapping and vulnerability assessments, helping strengthen disaster preparedness across the country.

De Jesus said under the agreement, PHIVOLCS would provide DBP free access to the GeoRiskPH platform, including its HazardHunterPH Pro application, to enable the Bank to manage the potential impact of natural hazards to its loan collaterals and investments, including acquired assets, as well as branch locations, and other bank facilities.

He said DBP and PHIVOLCS will conduct a bank-wide capacity building training on the use of GeoRiskPH platform and HazardHunterPH Pro, focusing primarily on key business areas such as lending, branch banking, special assets, and credit appraisal.

‘We believe that this initiative not only contributes to the broader goal of disaster risk reduction but also strengthens the Bank’s institutional resilience, especially in financing projects that would generate economic activity particularly in the countryside,’ de Jesus said.

THE House of Representatives-approved anti-disinformation bill will undergo further refinement during the legislative process to strengthen protections for journalists and legitimate media organizations.

House Majority Leader Ferdinand Alexander A. Marcos said the active participation of journalists and media groups would help ensure that the measure includes sufficient safeguards against its possible use to suppress legitimate reporting, criticism, or dissent.

‘I have always been a staunch supporter of the media. I always have been of the belief that the media is there to provide a check, to provide part of the checks and balances of government officials,’ he said.

He gave the assurance on Monday following concerns raised over the proposed Digital Media Anti-False Information Act, which is expected to undergo Senate scrutiny after its approval by the House of Representatives.

The measure seeks to address the growing spread of false information online, which lawmakers have identified as a threat to public safety, democratic institutions, and informed public discourse. At the same time, it aims to uphold constitutional guarantees of freedom of expression and freedom of the press.

‘Those concerns are actually very valid, and I understand that it might be misconstrued as something to do with censorship or using the bill to weaponize the media,’ Marcos said.

While acknowledging the concerns raised by various sectors, Marcos maintained that these should be addressed by introducing stronger safeguards rather than abandoning the proposed legislation.

‘So that is not my intention at all. But I can understand how that can be interpreted,’ he said.

He encouraged journalists and media organizations to participate actively in the Senate deliberations and amendment process to ensure that adequate protections are incorporated into the bill.

‘I think what’s important is to have necessary media participation in order for those safeguards to at least, if not there already, at least be introduced either in the Senate version or during the period of amendments,’ Marcos said.

He emphasized that the proposal is intended to confront the growing problem of false information online while respecting the indispensable role of a free and independent press.

‘We are not here to censor anyone,’ he said.