Category: Business Mirror

YOUTH leaders questioned the Marcos administration’s spending priorities, saying billions of pesos allocated for flood control, education and other public programs have yet to translate into better living conditions for Filipinos.

The concerns were raised during the ‘State of the Youth Address’ that gathered youth organizations, activist groups and Sangguniang Kabataan officials from across Metro Manila in discussion of issues a day before the President delivers his ‘State of the Nation Address.’

During the convention, Kabataan Party-list Rep. Renee Louise M. Co urged participants to assess not only what the President had promised over the past year but also what his administration had actually delivered.

Co pointed to flood control projects as one example, saying many communities continue to experience severe flooding despite years of government spending.

She recalled that her community was among those affected during Typhoon Carina (international name: Gaemi) in 2024.

‘What have the billions allocated for flood control projects achieved if communities continue to be flooded every time a strong typhoon hits?’ Co said.

Beyond flood control, she argued that environmental degradation has continued to expose communities to greater disaster risks, citing the loss of forest cover and other natural resources.

Co also criticized what she described as an education system that remains inaccessible to many young Filipinos because of rising costs, poor learning conditions and growing mental health concerns.

‘We are being pushed out of the education system because it has become expensive, inaccessible and no longer responds to the needs of students,’ she said.

Co added that increasing education funding alone would not resolve the problem unless reforms also improve the quality of learning and prepare students for meaningful employment after graduation.

The youth leader likewise raised concerns over the proposed Pax Silica project, warning of its potential impact on water resources, electricity costs and the country’s natural resources while questioning whether Filipinos would benefit beyond low-paying jobs.

The ‘State of the Youth Address’ also featured discussions on the proposed 2026 national budget and delegates’ speeches, before participants capped the gathering with a protest action outside the Philippine General Hospital ahead of the President’s SONA on July 27.

SPEAKER Faustino G. Dy III on Sunday expressed confidence that the Congress can fast-track the remaining priority measures of the administration before the end of the year, even as the Senate carries out its role as an Impeachment Court.

In a video statement, Dy said the House of Representatives is optimistic that the Senate-under the leadership of Senate President Sherwin Gatchalian-can balance its constitutional responsibilities while continuing to pass key legislation.

‘We are confident that the Senate has the capacity to balance its constitutional duty as an impeachment court with its role as legislators,’ Dy said.

The Speaker stressed that legislative work need not slow down, noting that both chambers can continue refining bills through bicameral conference committees and technical working groups.

‘The House is ready to work closely with the Senate so we can pass timely laws that respond to the needs of our people,’ he added.

Dy emphasized that many of the remaining priority measures are already in advanced stages, making their approval before yearend achievable.

‘Many of the remaining priority bills are already in the advanced stages of our legislative process,’ he said.

Among these is the proposed Cybersecurity Act, which is up for second reading, while at least eight other measures are pending action before the Committee on Appropriations or the Committee on Ways and Means.

Dy appealed to senators to help ensure the swift passage of these measures.

‘We are appealing to our counterparts in the Senate to help ensure that these bills are enacted before the year ends,’ he said.

Dy also expressed optimism that the House of Representatives can pass more of the administration’s priority measures before the end of the year, noting that many are already in advanced stages of the legislative process.

The Speaker said the House will continue to prioritize legislation that directly benefits ordinary Filipinos, while ensuring thorough and timely deliberations.

‘We will continue to prioritize measures that directly help our people and ensure that these are carefully and promptly acted upon,’ he said.

Dy also underscored the importance of close coordination with the Executive branch, particularly the Presidential Legislative Liaison Office (PLLO), noting that prompt feedback from agencies and early submission of executive versions of bills help accelerate the legislative process.

‘Our goal is to pass laws that bring real and tangible benefits to every Filipino,’ he said.

THE Union Bank of the Philippines (UBP) disclosed of having closed the first half of 2026 with a net income of P6.9 billion, up 113 percent compared to the same period last year, supported by continued strength of its core businesses.

In a statement, the bank said its net revenues reached P43.1 billion in the first half of this year, up 9 percent year-on-year, backed by expansion in consumer lending, CASA, and fee income.

UBP’s net interest income grew by 8 percent year-on-year to P33.7 billion, driven by loan expansion.

‘Consumer lending remained the primary growth engine and accounted for 61 percent of the bank’s total loan portfolio,’ the country’s ninth-largest lender noted.

Gross consumer loans climbed by 10 percent, led by credit cards and personal loans that collectively grew by 18 percent, .

Net interest margin improved by 40 basis points to 6.9 percent, supported by a 7 percent increase in CASA balances.

Non-interest income also grew by 12 percent to P9.4 billion year-on-year, with growth primarily driven by higher fee income from card-related fees, wealth management, bancassurance, and other everyday banking transactions, benefiting from the bank’s 19.3 million customer base.

The bank said it continued to build reserves to support sustained loan growth and reinforce balance sheet strength following ongoing portfolio reviews.

Despite this, it said credit costs declined 19 percent year-on-year to P9.4 billion, driven by continued improvements in asset quality.

‘We continue to build on the actions we began in 2025 to enhance our balance sheet while sharpening our focus on the businesses that drive long-term value for the Group,’ UBP Chief Financial Officer Manuel R. Lozano was quoted in the statement as saying.

Lozano added that the bank’s customer franchise ‘remains strong, asset quality continues to improve, and we are confident that we can continue the positive profitability trajectory.’

At the same time, he said UBP is ‘taking deliberate steps to simplify the Group and rationalize businesses where we believe resources can be better deployed.’

‘These actions are part of Unionbank’s broader strategy to sharpen focus on its core capabilities while continuing its journey to lead next-generation banking in the Philippines,’ added Lozano.

The most important announcement about Pax Silica, an economic initiative from the United States that selected our country together with Singapore in building secure, resilient supply chains for critical minerals, semiconductors and AI infrastructure, may not have been the billions of dollars in investments it promises or the million quality jobs it hopes to generate. It may have been a simple change in the way the government speaks about time.

During an interview on Bilyonaryo Spokes, Presidential Communications Office Secretary Dave Gomez described a subtle but profound shift in the administration’s communications narrative. Instead of looking at the government through the weary refrain, ‘dalawang taon na lang,’ he urged Filipinos to begin thinking in terms of ‘dalawang taon pa.’

The difference appears linguistic. In reality, it is economic.

‘Dalawang taon na lang’ is the language of endings. It shortens horizons. It encourages investors to postpone decisions, agencies to become cautious and citizens to think that the country’s major opportunities are already behind it. ‘Dalawang taon pa’ is the language of construction.

It says there is still sufficient runway to build, to invest, to innovate and to execute. That seemingly modest change in perspective may well become one of the administration’s most valuable economic assets because modern economies are built not merely on capital but on confidence.

Investment decisions are made years before factories rise from the ground, semiconductor plants begin production or artificial intelligence campuses employ their first engineers. Expectations often arrive before prosperity does. Seen through that lens, Pax Silica becomes far more than another investment promotion program.

It becomes the first large-scale test of a longer national horizon. Born from the strategic realignment of global supply chains following geopolitical disruptions, Pax Silica places the Philippines among only two trusted Southeast Asian partners of the United States, alongside Singapore, in developing a new generation of semiconductor, advanced manufacturing and artificial intelligence capabilities.

Its ambitions are staggering. Foreign direct investments are projected to reach between $40 billion and $70 billion, with an initial $10 billion devoted to strategic infrastructure. The initiative envisions transforming the Philippines from an exporter of raw minerals into a center for value-added processing, semiconductor manufacturing and AI infrastructure.

If fully realized, it could support as many as one million quality jobs, generate exports approaching $200 billion annually, produce yearly tax revenues that could eventually reach P180 billion and, perhaps most importantly, reverse the decades-long exodus of Filipino engineers, scientists and technology professionals by creating opportunities worthy of their talents at home.

The proposed 1,620-hectare AI industrial hub in New Clark City-the initiative’s first ‘Golden Node’-is therefore more than an industrial estate. It represents a new economic architecture that seeks to move the Philippines higher along the global technology value chain.

Yet projects of this scale do not succeed because the government announces impressive numbers. They succeed because an entire nation begins to believe that the future is still under construction. This is where the communications shift matters.

The phrase ‘dalawang taon pa’ quietly invites Filipinos to become participants rather than spectators in economic transformation. It asks businesses to invest instead of waiting, universities to prepare graduates for industries that are only beginning to emerge, local governments to build ecosystems rather than merely attract ribbon-cutting ceremonies, and young Filipinos to imagine careers they no longer have to pursue overseas.

Participation, after all, is the invisible capital behind every successful economy. Factories cannot flourish without skilled workers. Innovation cannot thrive without researchers. Supply chains cannot expand without entrepreneurs willing to take risks. Even foreign investments ultimately depend on the confidence that citizens themselves have in the country’s direction.

In that sense, Pax Silica is not simply about silicon, semiconductors or artificial intelligence. It is about extending the nation’s economic imagination. The real paradigm shift is not only from ‘dalawang taon na lang’ to ‘dalawang taon pa.’ It is from measuring the remaining time of an administration to measuring the remaining possibilities of a nation.

And perhaps that is the deeper lesson. A country’s greatest infrastructure is not always found in ports, airports or industrial parks. Sometimes it begins with a new way of thinking about tomorrow.

If Filipinos embrace that longer horizon-and participate in building it-Pax Silica may ultimately be remembered not merely as a technology initiative but as the moment the Philippines decided to build its future instead of merely waiting for it.

In a sense, resilience is what keeps the country standing, participation invites citizens to help build, Pax Silica provides the economic platform on which that participation can create lasting prosperity.

The National Historical Commission of the Philippines (NHCP) together with Book Nook will be holding HistoEx (History to Experience) 2026, flagship public history exposition of the agency from 27 to 29 July 2026 at the Music Hall, SM Mall of Asia, Pasay City.

Under NHCP’s Dekada ng Kasaysayan, 2026 is the ‘Year of Philippine Diplomatic History and Diaspora,’ a nod to the agency’s commitment to advancing public understanding of the Philippines’ longstanding engagements in international diplomacy, and enduring narratives of overseas Filipino communities whose movements across borders have shaped both national identity and global presence.

With histoEx 2026’s theme, ‘Across Borders and Currents,’ the event and exhibit space visual draws inspiration from the United Nations General Assembly, emphasizing structure, dialogue, and multilateral diplomacy and paired with maritime forms to represent migration, movement, and resilience.

The three-day exposition will feature historical exhibitions, educational talks, interactive activities, and cultural presentations that promote a deeper appreciation of Philippine history and heritage among students, educators, researchers, cultural workers, and the general public.

This year’s highlights are KaSiklaban, a quiz show and Reyal or Fakeh, a trivia game. Both exciting activities are grounded in the deeper purpose of historical learning. Kasiklaban is an inter-collegiate quiz game that tests the knowledge of students on Philippine history, heritage, and identity while Reyal or Fakeh challenges participants to determine whether historical statements, facts, or popular beliefs are true or false.

The main component of the mini convention is histoEx Talks, where personalities from the arts, culture, or history discuss a topic – Ted Talk style. This year, the event will focus on Filipino global contributions and how they strengthen the country’s identity.

On 27 July, media personality and content creator Joy Barcoma will discuss the importance of making history engaging and relevant for contemporary audiences while on 29 July, acclaimed stage and screen actress Gab Pangilinan will share her experiences in the performing arts and reflect on the role of theater in preserving and communicating history, identity, and culture.

Admission to HistoEx 2026 is free. Visitors are invited to explore, participate, and engage with government agencies, museums, historical organizations, academic institutions, and private partners through a diverse range of exhibits and educational displays.

Participating institutions include the National Commission for Culture and the Arts (NCCA), the Embassy of the Republic of Indonesia, the Department of Foreign Affairs, Instituto Cervantes, FamilySearch Inc., National Commission on Muslim Filipinos and the National Museum of the Philippines, among others.

The NHCP is the national government agency mandated to promote Philippine history through research, publications, historical commemorations, and the conservation of the country’s historical sites, structures, and cultural heritage.

THE Commission on Elections (Comelec) has completed the verification of more than 2.39 million ballots for the first Bangsamoro parliamentary elections in September.

Data from the Comelec showed all 2,393,202 ballots produced for the polls had undergone verification.

Of the total, 1,869,922 were released as good ballots, while 523,280 were placed under quarantine for further processing.

Comelec also recorded 15,733 defective ballots, equivalent to 0.66 percent of the total production.

Lanao del Sur posted the highest number of defective ballots at 10,140, followed by Tawi-Tawi with 1,505 and Maguindanao del Sur with 1,340.

Basilan recorded 1,049 defective ballots, while Maguindanao del Norte and the Special Geographic Area had 1,055 and 644, respectively.

Comelec Spokesperson John Rex Laudiangco said the poll body will spend August deploying the ballots, automated counting machines and other election materials to designated hubs.

‘The month of August will be dedicated to the deployment of all election supplies and equipment,’ Laudiangco said in an interview.

He said election stakeholders and members of the media will be allowed to inspect the equipment upon its arrival at the hubs, where Comelec will also conduct an inventory.

The ballots will then be transferred to the offices of local treasurers, who are legally responsible for their custody and distribution to electoral boards.

Comelec has also established technical and repair hubs that will respond to possible problems involving the automated counting machines during the elections.

‘The technical and repair hubs are ready in case the automated counting machines encounter problems,’ Laudiangco said.

Testing and sealing of the machines will be conducted on Sept. 12, when Comelec will also demonstrate the readiness of the Starlink equipment to be used for transmitting election results.

The first regular parliamentary elections in the Bangsamoro Autonomous Region in Muslim Mindanao are scheduled for September 14.

Education Secretary Juan Edgardo Angara highlighted sustained momentum in the Department of Education’s (DepEd) key programs, reinforcing the administration’s commitment to tangible education reform, emphasizing that public funding is translating into direct support for school infrastructure, teache welfare, and learning support.

‘Noong nakaraang taon, nilagay ni Pangulong Bongbong Marcos ang edukasyon sa sentro ng kanyang agenda. Naglatag siya ng malinaw na roadmap. Ngayong taon, ipinapakita natin ang concrete progress ng ating mga nasimulan,’ Angara said, as President Ferdinand R. Marcos Jr. gave his 2026 State of the Nation Address (SONA) on Monday.

In line with the President’s directive, DepEd continues to prioritize the professional and personal well-being of educators. Around 82,000 teachers and school leaders have been promoted under the Expanded Career Progression (ECP) System.

‘Malinaw ang bilin ng Pangulo: bawat piso sa badyet ng edukasyon ay dapat ramdam ng ating mga mag-aaral at guro-mula sa mga bagong silid-aralan at kagamitan, hanggang sa bawas na gawaing administratibo, mas ligtas na mga paaralan, at pag-angat ng kalidad ng edukasyon,’ Angara said.

To allow educators to focus on teaching rather than administrative tasks, DepEd is implementing wide-ranging reforms to reduce administrative workload by reducing school forms, and strengthening school-based support through the creation of 32,916 new teaching positions for FY 2026. This expansion includes critical non-teaching support: 11,268 Administrative Officers (AO II), 5,000 Project Development Officers, and 6,000 School Principal I positions.

Alongside the nationwide distribution of lapel microphones to all public school teachers to support and enhance their classroom instruction, DepEd continues to strengthen teacher welfare and well-being. Through the Kabalikat sa Pagtuturo Act, the Teaching Allowance was increased from P5,000 to P10,000, providing greater support for teachers’ instructional needs.

DepEd also granted a P7,000 Medical Allowance to both teaching and non-teaching personnel to help cover their healthcare expenses. In addition, a five-day Wellness Leave for all DepEd employees-whether permanent, temporary, or Contract of Service-is granted in recognition of the importance of maintaining their physical, mental, and emotional well-being. These measures reflect DepEd’s commitment to supporting and valuing the education workforce, who serve as the backbone of the country’s learning system.

Infrastructure development is also steadily reaching schools. DepEd reported that 21,441 new classrooms have been completed since July 2022 via the Basic Educational Facilities Fund (BEFF), including 411 classrooms in Last Mile Schools in remote areas.

To address remaining backlogs, at least 12,487 additional classrooms are currently in the procurement stage for FY 2026 through the Department of Public Works and Highways (DPWH) and local government units. For its part, the private sector too will also construct its initial share of more than 16,000 classrooms in Luzon, by way of Public-Private Partnerships (PPP). Additional PPPs with higher production targets will soon follow for the Visayas and Mindanao.

Digital integration also continues to accelerate, with nearly 98 percent of public schools now internet-connected in coordination with the Department of Information and Communications Technology (DICT). To support digital learning, DepEd from 2022 to 2025 has deployed over 140,000 teacher laptops, over 77,000 Smart TVs, and over 8,200 e-Learning Cart packages.

DepEd remains committed to workforce readiness. Following a successful pilot, the department is implementing the Strengthened Senior High School (SSHS) Curriculum nationwide starting School Year 2026-2027. This initiative provides clearer pathways toward higher education, employment, and entrepreneurship.

Furthermore, 178,641 SHS-TVL learners for 2026 have already passed Technical Education and Skills Development Authority (TESDA) National Certification (NC) assessments.

To protect learner welfare, DepEd is fortifying emergency preparedness through its Disaster Preparedness and Response Programs, and expanding health and nutrition services. The universal School-Based Feeding Program now serves around 4.6 million Kindergarten and Grade 1 learners, as well as undernourished Grade 2 to 6 learners and other vulnerable secondary learners.

DepEd is strengthening school safety and school-based mental health services through a whole-of-government approach. DepEd is expanding its support by hiring over 10,000 School Counselor Associates (SCA), ensuring accessible basic psychosocial support for learners across all public schools.

The Department also spearheaded child protection awareness programs, reaching more than 4.7 million learners, and established over 25,000 school sports clubs.

Angara said the Department remains focused on sustaining reforms and addressing the challenges that persist.

‘Education is a shared, long-term work. Every classroom completed, every teacher supported, and every child who stays safe in school is another step toward the future that the President envisioned. We will continue building on these gains with humility, urgency, and a steadfast commitment to public service,’ he said.

Getting the most value from every currency exchange starts with making informed decisions. Whether traveling overseas, paying tuition abroad, importing products for a business, or supporting loved ones in another country, Filipinos increasingly rely on foreign exchange as part of their financial journey. As global opportunities continue to grow, understanding how foreign exchange works can help maximize the value of every peso exchanged.

As the expert in foreign exchange, Cebuana Lhuillier MoneyXChange combines competitive exchange rates, a broad selection of currencies, and a nationwide network that makes foreign exchange more accessible and convenient for Filipinos wherever their financial journeys take them.

‘Many people see foreign exchange as a simple transaction, but it plays a much bigger role in achieving financial goals,’ said Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier. ‘Making informed currency decisions helps customers maximize the value of their hard-earned money while giving them greater confidence in every transaction.’

Drawing from the questions and misconceptions most frequently encountered by its foreign exchange specialists, Cebuana Lhuillier MoneyXChange debunks five common foreign exchange myths every Filipino should know.

Myth #1: ‘It’s okay to exchange my money only when I arrive abroad.’

Fact: Many travelers assume they can simply exchange money at the airport or after reaching their destination. However, waiting until arrival often means having fewer choices and less control over the exchange rate. Cebuana Lhuillier MoneyXChange enables customers to exchange currency before their trip through its nationwide branch network, allowing them to compare rates in advance and secure the currency they need before flying. For added convenience, customers can also use Click and Collect to reserve their preferred foreign currency online and simply pick it up at their selected Cebuana Lhuillier branch, making it easier to travel with local cash on hand for transportation, meals, and other immediate expenses upon arrival.

Myth #2: ‘Foreign exchange is only for people going on vacation.’

Fact: Foreign exchange supports much more than leisure travel. Cebuana Lhuillier MoneyXChange serves parents paying tuition abroad, entrepreneurs purchasing goods from overseas suppliers, businesses managing cross-border transactions, overseas workers, and families receiving foreign currency. Its services are designed to support a wide range of international financial needs, not just vacations.

Myth #3: ‘Small differences in exchange rates don’t really matter.’

Fact: Even small movements in exchange rates can add up, particularly for larger transactions. Cebuana Lhuillier MoneyXChange helps customers maximize the value of every exchange by offering competitive rates that can translate into meaningful savings whether the funds are intended for travel, education, or business.

Myth #4: ‘I should wait until someone tells me the rate is at its lowest.’

Fact: Exchange rates constantly change based on global market conditions, making them difficult to predict accurately. Rather than relying on speculation or social media advice, Cebuana Lhuillier MoneyXChange encourages customers to exchange based on their actual financial needs while providing transparent, competitive rates that help them make informed decisions with confidence.

Myth #5: ‘Money changers only exchange major currencies like US dollars.’

Fact: As Filipinos travel, study, and do business across more countries, access to multiple currencies has become increasingly important. Cebuana Lhuillier MoneyXChange offers a wide selection of foreign currencies, enabling customers to conveniently obtain the currencies they need through one trusted provider without being limited to only the most common denominations.

‘Financial literacy means understanding every financial decision we make, including how we exchange currencies,’ said Philippe Andre Lhuillier, Senior Executive Vice President of Cebuana Lhuillier. ‘As more Filipinos participate in the global economy, our goal is to provide reliable foreign exchange services while helping customers make informed decisions that maximize the value of their money.’

Whether crossing borders for work, education, business, or leisure, making smarter currency decisions starts with knowing the facts. Backed by trusted expertise, competitive exchange rates, access to a wide range of currencies, and one of the country’s largest branch networks, Cebuana Lhuillier MoneyXChange continues to help Filipinos navigate foreign exchange with greater confidence, convenience, and value.

PUMP prices are on the rise again this week.

Oil companies separately announced on Monday that they will raise diesel price by P7.30 per liter, gasoline by P6.80 per liter, and kerosene by P4.20 per liter. The new pump prices will take effect on Tuesday.

As of press time, the oil companies that announced their price movements are Shell, Seaoil, and Unioil. Other oil firms are expected to follow suit.

Jetti, for its part, will implement a staggered price hike. On Tuesday, it will increase the price of diesel by P5 per liter and raise it again on Wednesday by P2.30 per liter. For gasoline, it will implement a P5 per liter hike followed by P1.80 per liter increase on the same days.

Oil companies implement weekly price adjustments to reflect movements in the world oil market.

They said that geopolitical conflicts and rising demand have tightened Asian fuel supplies, keeping refined product prices high despite a minor drop in crude oil prices.

‘Supply disruptions linked to the Iran and Ukraine wars have tightened prompt oil supply availability and have caused prices to rise this week,’ an oil firm said.

The disruption of oil supplies has lifted the risk of delayed crude arrivals for Asian refiners, which supported diesel and middle distillate prices as product availability continues to tighten due to a slowing refinery output recovery, the oil firm explained.

While crude oil prices settled lower on Friday following reports that China had initiated a push towards a resumption of stalled peace talks between the US and Iran, the Mean of Platts Singapore prices on diesel and gasoline have maintained their strength and closed higher this week.

Last week, they hiked gasoline by P3.50 per liter, diesel by P10 per liter, and kerosene by P11 per liter.

The Bohol-Panglao International Airport (BPIA) will have a permanent on-site jet fuel depot by the third quarter of 2027, ending its reliance on trucked-in supply and giving BPIA at least five days of fuel cover, after its operator awarded the project to Petron Corp.

Aboitiz InfraCapital Bohol Airport Corp. (ABAC) has signed an agreement with the oil firm for the design, construction, and operation of a new Jet A-1 fuel farm at the airport, backed by a projected capital expenditure of P340 million.

Petron emerged as the top-ranked bidder following an evaluation under a Request for Proposals (RFP), which grants the winner exclusive rights to design, build, operate, and maintain the on-airport depot.

The facility will consist of three tanks with a storage capacity of 477 kiloliters (KL) each, or 1,431 KL in total. Commissioning will be carried out in accordance with the latest Joint Inspection Group (JIG) standards, the global benchmark for aviation fuel handling.

BPIA currently burns through 102 KL of jet fuel a day: 43 KL for international operations and 59 KL for domestic flights. The airport has no permanent bulk storage on site. ‘This milestone agreement underscores our commitment to modernizing the Bohol-Panglao International Airport,’ ABAC General Manager Aldwin Uy said. ‘By partnering with an industry leader like Petron, we are securing a resilient, world-class fuel infrastructure that will ensure operational efficiency, and safely accommodate the growing aviation demands of the Bohol.’

The agreement stipulates that applicable facility rates will be regulated by ABAC rather than set by the fuel supplier.

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The airport operator said the arrangement is meant to preserve an open-access environment and prevent supplier discrimination should other fuel suppliers enter the BPIA market later.

Fuel farm exclusivity arrangements at regional airports have historically drawn complaints from airlines over into-plane charges, a recurring point of friction in the local aviation industry.

Petron, the country’s largest oil company and its only remaining refiner, already owns and operates the fuel farm at the Mactan-Cebu International Airport (MCIA), which is likewise part of the Aboitiz InfraCapital airport portfolio. ‘Petron is proud to expand our strategic partnership with Aboitiz InfraCapital through this vital infrastructure project. We are bringing our extensive operational expertise to BPIA, ensuring that the new fuel farm is built and operated in strict accordance with the latest Joint Inspection Group (JIG) standards to provide a safe, reliable, and seamless fuel supply chain,’ Petron VP Jonathan F. Del Rosario said.