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EXTENDING the period of imposition of the ?16 tariff per 40-kilo bag of imported blended cement will only jack up prices of local cement, which could undermine competition and burden Filipino consumers, according to consumer group United Filipino Consumers and Commuters (UFCC).

‘The Department Order 25-01 was signed by the Secretary on February 20, 2025. It will take effect for 200 days, so if we count the 200 days, any moment now the 6-7 months or 200 days period will end. So now, we hear that the cartels have an appeal to continue this,’ UFCC President Rodolfo B. Javellana Jr. told reporters in Filipino during the consumer group’s protest in front of the building of the Department of Trade and Industry (DTI) in Makati City.

‘What will happen to these cartels? Of course, the price will increase. They will dictate the price more. This was the situation in 2016. The price was really high,’ added Javellana.

Asked how many workers would be affected by the tariffs imposed on imported cement, the head of the consumer group said: ‘We think there are around 5,000 mothers and fathers, the direct ones, who will be affected, who will lose their livelihood.’

However, he noted that this number excludes the cement contractors, delivery men, among others.

‘So please, Secretary Roque, we appeal to you, stop this. Let’s not extend it to 1,000 days or 2,000 days or 5,000 days. Let’s stop the P16 [tariff]. So that we can boost competition and consumers will have a chance to pick whatever cement brand they want,’ stressed Javellana, speaking in Filipino.

In a letter sent by the consumer group to Trade and Industry Secretary Cristina A. Roque on September 29, 2025, Javellana said: ‘We write to express our concerns regarding the imposition of emergency tariffs on imported cement for the next three years, estimated to come to P400 per metric ton or P16 per 40-kilo bag of blended cement and Portland cement.’

‘We have noted that this is the second letter we have sent to your office, and we hope that the first letter has not fallen on deaf ears,’ the letter of the UFCC chief read.

The consumer group said it believes that DTI has a ‘johnny-come-lately’ attitude towards this issue, saying the agency is claiming the measure was intended to protect local cement producers, which UFCC notes are ‘bigtime producers themselves and are not likely to declare bankruptcy anytime soon.’

‘But clearly action to protect local production should have been made earlier, at the time when change in the tax regime is not likely to also create changes in the price of other basic commodities,’ Javellana pointed out.

The Securities and Exchange Commission (SEC) has approved the rental pool program of Damosa Land Inc., the first securities issuer to successfully register under the streamlined guidelines on Securing and Expanding Capital in Real Estate Non-Traditional Securities or SEC RENT.

In its en banc meeting, the agency approved company’s registration statement covering 100 certificates of participation in the condotel project of TRYP by Wyndham Samal.

Valid for 20 years starting from the date of the operation, the certificates cover 94 standard class condotel units with an offer price of P50,000; four deluxe class units worth P75,000 each; and two suite class units with an offer price of P100,000 each. All units in TRYP by Wyndham Samal will be enrolled under a mandatory condotel rental pool program. Each unit will automatically be included in the rental pool upon purchase, allowing it to be marketed, rented and managed as hotel accommodation for hotel guests without transferring ownership.

The rental pool arrangement is expected to gross up to P5.2 million, which will be used to fund the company’s pre-operating expenses and to provide a buffer for the first three months of operations.

The project, located in Barangay Limao, Samal, Davao del Norte, is expected to be launched in the fourth quarter this year, with construction set to begin in the first quarter of 2026. The project is expected to be completed in the third quarter of 2028, with the opening scheduled in the fourth quarter of the same year, according to its latest timeline submitted to the SEC.

Implemented through SEC Memorandum Circular No. 12, Series of 2024, the SEC RENT streamlines the registration process for securities of real estate firms involved in selling or offering investment contracts through rental pool agreements.

Rental pool agreements involve deals where a property developer sells or offers units in real estate projects such as condominiums, hotels or resorts to the public. Under the deals, buyers contribute the units to a rental pool managed and operated by the company or a third-party operator. In turn, the buyers are entitled to receive a share in profits earned by renting out the units to third parties.

LOWERING the value-added tax (VAT) rate to 10 percent would trigger a chain of economic and fiscal consequences, according to a top official from the Department of Finance (DOF).

Speaking at the recent Philippine Tax Academy’s (PTA) convention, Finance Undersecretary Karlo Fermin S. Adriano said that reducing the VAT rate to 10 percent from the current 12 percent will reduce revenues to about P330 billion annually, equivalent to around 1 percent of the country’s gross domestic product (GDP).

This would widen the fiscal deficit from the 2025 target of 5.5 percent to about 6.5 percent, reversing fiscal consolidation efforts.

‘So, definitely, we will not be able to do fiscal consolidation because our fiscal deficit last year was only 5.7 percent,’ Adriano said.

‘And, if we do not do fiscal consolidation, if we cannot show that we are not capable of fiscal consolidation, what will happen? Interest payments will also increase,’ the DOF official added.

Because of this, Adriano said the country’s credit rating could be downgraded, which would then push up borrowing costs and increase debt servicing.

‘All of our debts will increase and that’s a cycle of more debt,’ Adriano said.

If the government is really keen on lowering the VAT rate, the other option, Adriano said, is to decrease government expenditures of around P300 billion a year. However, this means government programs will also be lessened.

‘Definitely, there are some positives, but there are also some negatives,’ Adriano noted.

The House Committee on Ways and Means is currently studying the proposal to reduce the VAT rate from 12 percent to 10 percent to ease inflationary pressures and give Filipino households much-needed relief.

Batangas 1st District Rep. Leandro Leviste filed House Bill 4302, or the proposed VAT Reduction Act of 2025, to help households save an estimated P7,000 annually.

‘This bill is about giving ordinary Filipinos a break. The VAT is regressive, hitting the poor and middle class the hardest. Lowering it makes our tax system more progressive,’ Leviste said.

However, Adriano said the country’s VAT system is not regressive, based on a World Bank study.

Adriano said many VAT exemptions already exist, particularly for food, which accounts for around 50 percent of the poorest of poor households’ spending.

‘That’s why it’s not regressive because we have so many exemptions,’ Adriano noted.

If the government were to actually decrease the VAT rate, Adriano said higher-income households would mostly benefit since they consume more goods and services subject to VAT.

Data from the Bureau of Internal Revenue and Bureau of Customs show VAT collections have increased nearly eightfold-from P156.67 billion in 2005, when the rate was raised to 12 percent under the Expanded VAT Law, to P1.20 trillion in 2024.

The Philippines currently imposes the highest VAT rate in Southeast Asia. In comparison, Vietnam and Cambodia charge 10 percent, Indonesia 11 percent, Singapore 9 percent (GST), and Thailand 7 percent. Malaysia, Laos, and Myanmar impose between 5 and 7 percent.

For 150 years, American Standard has been part of homes around the world-helping families create spaces filled with comfort, life, and love through its trusted bathroom and kitchen products. From simple routines to cherished family moments, the brand has stood the test of time with quality, innovation, and design that enrich everyday living.

As American Standard celebrates its milestone 150th anniversary, the brand honors this remarkable journey with a grand gesture of gratitude to its loyal Filipino customers-the American Standard 150 Raffle Promotion at all Wilcon branches nationwide. Shoppers have a chance to win coveted prizes, including a Hybrid Car, a Honda EM1 Electric Vehicle, a Xiaomi Mi Smart Electronic Bike, and American Standard products.

‘American Standard 150 Raffle Promotion is our way of celebrating this milestone and thanking customers who have supported us across the years,’ says Hermie Fernando Limbo, Country Leader, LIXIL Water Technology, Philippines.

Running until February 28, 2026, the promo entitles customers to one (1) raffle entry for every P10,000 single-receipt purchase of American Standard products at participating Wilcon branches. Exciting prizes include: 1 unit BYD Hybrid Electric Sedan, 1 unit Honda EM1 Electric Vehicle, 1 unit Xiaomi Mi e-bike, and 150 units of American Standard products (Duostix Hygiene Spray, Smart Washer Manual Bidet, and Neo Modern 3-Way Rain Shower).

Winners will be notified via their registered email and contact number and will also be announced on Wilcon’s official Facebook page. For complete details, visit Wilcon Depot PH.

To mark its 150th year anniversary, American Standard is also bringing together its valued trade partners, architects, designers, and media friends for a Special Partners’ Night themed ‘Inspired by Life.’ The event will feature tributes to the brand’s heritage, inspiring showcases, and a glimpse into the future as American Standard ushers in a new era under its refreshed brand claim: ‘Life. Love. Home.’

For generations, American Standard has been a trusted companion in homes, supporting personal moments of self-care, family routines, and connections that matter most. As it steps into its next chapter, the brand remains committed to designing products that make everyday living better-continuing a legacy that began 150 years ago.

THE country’s latest external debt service data released by the Bangko Sentral ng Pilipinas (BSP) sends a warning to policymakers regarding taking in more foreign debts, according to local economists.

The data showed the country’s external debt service already reached $148.87 billion in the January to June period this year. This showed that in the six-month period, external debt service already breached the total of $137.63 billion posted in the whole of 2024.

The external debt service data showed the government accounted for the bulk of the amount at $94.8 billion in the six-month period. This was 18.76 percent higher than the $79.825 billion posted in the same period last year.

‘This is a warning signal, though not necessarily a fatal one. It underscores the growing burden of foreign liabilities, higher amortization schedules, and interest cost pressures,’ Philippine Institute for Development Studies (PIDS) Senior Fellow John Paolo Rivera told BusinessMirror.

‘The concern is that this could strain forex reserves, tighten fiscal space, and heighten rollover risk especially if global rates stay elevated or the PHP [Philippine peso] weakens further,’ he added.

However, Union Bank Chief Economist Ruben Carlo Asuncion told this newspaper that the latest data ‘is not alarming’ given the country’s external debt to GDP ratio stands at 31.2 percent.

He added that the country’s dollar reserves or the Gross International Reserves (GIR) stood at $105.3 billion and could still ‘provide strong cover’ for the country’s debts and import receipts.

‘The increase reflects valuation effects and planned borrowings, not distress,’ Asuncion told this newspaper on Monday.

Meanwhile, private external debt service data showed a 7.38-percent growth to $54.07 billion in the January to June period this year, compared to the $50.36 billion posted in the same period last year.

Moving forward, Rivera said the national government must implement stronger debt management strategies which includes lengthening debt maturities and favoring concessional or low-cost borrowing.

Rivera said these strategies also include debt swaps and buybacks, as well as keeping a ‘prudent’ debt mix between domestic and external sources.

Asuncion added that the government should endeavor to maintain the 80-20 borrowing strategy that favors domestic over external sources.

‘Importantly, improving revenue mobilization and ensuring efficient public spending are key to sustaining the country’s ability to service external obligations without compromising development goals. The degree of corruption in the country also makes managing this more challenging,’ Rivera told BusinessMirror.

Earlier, the government’s retail treasury bond (RTB) drove the surge in borrowings in August, pushing total gross borrowings in eight months to P2.266 trillion.

Latest data from the Bureau of the Treasury (BTr) showed the government’s gross borrowings for August surged by 192.19 percent to P508.526 billion from last year’s P174.034 billion.

THE House of Representatives will focus on passing a ‘clean budget’ for 2026, the speaker said, underscoring that this remains the chamber’s priority despite political noise and controversies over alleged flood control projects and questionable budget insertions.

Speaker Faustino ‘Bojie’ Dy III said the chamber is considering extending the plenary debates on the proposed 2026 national budget for another week.

The deliberations were originally scheduled to conclude this week, with October 10 set aside for the period of amendments to House Bill (HB) 4058, or the 2026 General Appropriations Bill (GAB).

The budget was originally set to complete plenary deliberations on the 2026 budget proposals of key agencies this week, with October 10 reserved for the period of amendments to House Bill (HB) 4058, or the General Appropriations Bill (GAB) of 2026.

‘Our priority in Congress is to pass a clean budget so we can transmit it to the Senate,’ Dy said.

The Speaker added, ‘For now, we will hold consultations, and we may even extend for another week to ensure the proper passage of next year’s budget.’

On Wednesday, plenary debates will cover the proposed budgets of the Office of the President, other executive offices, the Department of Foreign Affairs, the Department of Science and Technology, and the Department of Transportation.

Deliberations on Thursday will include allocations for Congress, the Civil Service Commission, the Department of Migrant Workers, and the Department of the Interior and Local Government. Discussions will also tackle support for the government corporate sector, lump-sum funds, and the Turno En Contra.

According to the schedule provided to the media, Thursday marks the last day of plenary debates for government agencies. Congress, composed of the House of Representatives and the Senate, is set to adjourn for a break on October 10.

‘That has not been thoroughly discussed yet, but if it becomes necessary to extend for another week, then that’s what we will do. Most likely, we may really extend by another week,’ said the speaker.

Once approved by the House, the GAB will be transmitted to the Senate for review. A bicameral conference committee will later be convened to reconcile differences between the House and Senate versions of the budget.

Paragraph 7, Section 25, Article VI of the 1987 Constitution provides that the general appropriations of the preceding year shall be deemed as re-enacted if both houses of Congress fail to pass the general appropriations bill for the ensuing year before the end of the present year.

THE global travel and tourism sector is headed for another record-breaking year, projected to contribute an historic high of US$2.1 trillion to the worldwide economy, surpassing the record high of $1.9 trillion in prepandemic 2019 by 10.5 percent.

At the launch of its latest Economic Impact Report (EIR) at the 2025 World Travel and Tourism Council (WTTC) Global Summit in Rome on Monday, WTTC Interim Chief Executive Officer Gloria Guevara said: ‘These results tell a story of strength and opportunity. The United States remains the world’s largest travel and tourism market, China is surging back, Europe is powering ahead, and destinations across the Middle East, Asia, and Africa are delivering record growth.’

The EIR also showed that 371 million jobs are estimated to be supported by the travel and tourism sector, almost 4 percent more than the 357 million jobs last year. ‘By 2035, one in eight jobs worldwide will be supported by travel and tourism, with an additional 91 million new jobs supported, the majority in the Asia-Pacific region, resulting in one in three new jobs globally supported by the sector,’ the report added.

Confidence in the sector remains strong with the EIR seeing global investment continue to rise this year after exceeding $1 trillion in 2024. Last year’s investment level was 9 percent more than in 2023.

‘The US, China, Saudi Arabia, and France together accounted for more than half a trillion dollars of that investment [last year],’ the reported noted.

Most powerful market

Despite being the ‘world’s most powerful travel and tourism market,’ the US will attract less tourist spend this year, falling by $12.5 billion, such that total spending will inch up a mere 0.7 percent. The group warned that ‘without destination promotion, traveler-friendly policies, and reduced visa costs, it could lose its competitive edge.’

The US contributed $2.6 trillion to its economy, as expressed in gross domestic product (GDP), in 2024. The report pointed to the US domestic market as the ‘strongest in the world, sustaining millions of jobs and underpinning sector resilience.’

China is the world’s second-largest market and is projected to contribute over $2 trillion to its economy, 22.7 percent from 2024. ‘This highlights China’s rapid return to international prominence and its pivotal role in shaping global travel flows,’ said the WTTC.

Japan, the world’s most popular destination according to global travel surveys, is estimated to add $13.8 billion to its GDP this year, and reach close to $325 billion. As per EIR, the country’s is the world’s fifth largest travel and tourism market.

Fastest-growing region

Meanwhile, the Middle East remains one of the fastest-growing regions in the world for travel and tourism, with Saudi Arabia continuing to stand out as a ‘global powerhouse, with inbound visitor spend surging and infrastructure investment reaching record levels.’

Earlier, the WTTC projected tourism’s contribution to the Philippine economy at 21 percent, adding some $102.6 billion to the GDP this year. This represents an 11.8-percent change from $91.8 billion GDP contribution in 2024, although a slower growth from the 27.6-percent, year-on-year change in 2024/2023. This year’s estimated tourism contribution is 13.5 percent higher than the prepandemic $90.4 billion recorded. (See, ‘Int’l tourism spending in PHL to breach pre-Covid levels,’ in the BusinessMirror, June 16, 2025.)

From September 28 to 30, over a thousand delegates, including 310 chief executive officers and chairs, will explore opportunities and challenges shaping the future of travel and tourism at the global summit.

WTTC officials said, among the key trends this year are ‘a demand for experience-led and sustainable travel, the integration of artificial intelligence [AI], shifts in consumer preferences, the growth of the short-term rental market, and the ongoing importance of business travel.’

The Commission on Elections (Comelec) is not singling out Senate President Francis ‘Chiz’ Escudero in its investigation of candidates who received campaign donations from government contractors, its chairman clarified on Tuesday.

Comelec Chairman George Erwin M. Garcia said the poll body will also look into other donors once the Department of Public Works and Highways (DPWH) confirms how many of the 55 contractor-donors have existing government contracts.

‘With all due respect, the claim that we are singling him out is not true. Senator Chiz was first only because the contractor admitted it, and he himself acknowledged receiving the donation,’ Garcia said in a Zoom interview.

Escudero, in a Senate privilege speech on Monday, questioned why he was the only one being investigated over the alleged campaign donation.

Earlier this month, the Comelec issued a show cause order against Centerways Construction and Development Inc. President Lawrence Lubiano after he admitted during a House hearing on flood control projects that he donated P30 million to Escudero’s 2022 senatorial campaign.

Lubiano later clarified the donation was made ‘personally’ and not through his firm.

Garcia said Lubiano has already appeared before the Comelec, and the next step is to seek Escudero’s side.

He stressed, however, that the senator has the right to decline.

‘That’s fine because it’s part of due process. It’s up to him if he wants to explain and present his defense. We want everyone to be afforded due process so our procedures cannot be questioned later..The candidate doesn’t need to appear personally-his lawyer can represent him,’ Garcia said.

Under Section 95 of the Omnibus Election Code, contractors and suppliers of government projects are barred from contributing to any partisan political activity, directly or indirectly.

The prohibition also covers financial institutions except for legitimate loans, utilities and natural resource extractors, companies with government franchises or contracts, recipients of recent large government loans, publicly funded schools, civil service officials, members of the armed forces, and all foreigners and foreign corporations.

Violators-both donor and recipient-may face imprisonment of one to six years.

In the aftermath of the recent typhoons that deeply affected many communities and left countless Filipinos striving to recover, the ALC Group of Companies once again showed its commitment to community service. On September 25, 2025, the company turned over cash donations and relief goods to Caritas Manila, Inc. in a simple ceremony at the Caritas Manila Compound in Pandacan, Manila.

Representing the ALC Group were the children of ALC Group Chairman D. Edgard A. Cabangon-Giannina Eunice A. Cabangon, Isuzu Gencars Operations Executive; Dannica Nicole A. Cabangon, Eternal Group Operations Executive; and Antonio Carlos G. Cabangon, Special Assistant to the Chairman of Aliw Broadcasting Corp. They personally handed the donations to Caritas Manila’s Executive Director, Rev. Fr. Antonio Cecilio T. Pascual, symbolizing the Group’s collective effort to stand with affected communities in their time of need.

The donations form part of the ALC Bayanihan Program, a company-wide initiative that brings together the management and employees of the ALC Group to extend assistance to those impacted by calamities. Beyond immediate relief, the program is designed to support rehabilitation and rebuilding efforts, ensuring that affected families can move forward with renewed strength and hope.

Speaking on behalf of the family, Dannica Nicole A. Cabangon shared: ‘Growing up, we witnessed how our grandfather, Ambassador Antonio L. Cabangon Chua, and our father, D. Edgard A. Cabangon, always made it a point to extend help to our fellow Filipinos. Inspired by their example, our generation is committed to carrying on this legacy of malasakit through initiatives that bring hope and support to those in need.’

This is not the first time the ALC Group has extended support to Caritas Manila. In previous years, the Group donated Isuzu Traviz utility vans, along with cash and in-kind contributions, to reinforce Caritas Manila’s programs for the poor and marginalized.

Founded by the late Ambassador Antonio L. Cabangon Chua and now chaired by D. Edgard A. Cabangon, the ALC Group continues to uphold its founder’s principle: that true success in business must go hand in hand with service to the community.

Matteo Malucelli of XDS-Astana stamped his class. He won Stage 1 of the PETRONAS Le Tour de Langkawi 2025 (PLTdL25) in Kuah this morning.

?The PLTdL24 Sprint King, who joined Astana earlier this year after not extending his contract with JCL UKYO – held off the challenges of second-place finisher and PLTdL22 Sprint King, Erland Blikra from Uno-X Mobility and PLTdL23 Sprint King, Arvid Kleijn (Tudor Racing Team).

The large group finished the ride in 2 hours and 22 seconds, granting Malucelli a 10-second bonus, which also allowed him to take the green jersey as the overall leader sponsored by PETRONAS, and 15 points to head the Sprint King points tally and claim the orange jersey sponsored by the Ministry of Youth and Sports (KBS).

Meanwhile, Terengganu Cycling Team (TSG) rider Muhammad Nur Aiman Rosli also made strides in the General Classification (GC) when he grabbed a 7-second bonus after dominating two intermediate sprint zones at Harbour Park and Padang Matsirat, in addition to a third place in the second sprint zone at Bayas. This effort earned him the white jersey sponsored by Rakan Muda as the Best Asian Rider.

?St George Continental rider, Ben Carman, who broke away as they approached the sole Category 4 climb zone at Bukit Malut 16km before the finish, claimed the polka dot jersey as King of the Mountains sponsored by BubblesO2.

?For Malucelli, who won Stages 2, 7, and 8 of PLTdL24, this victory in Stage 1 of PLTdL25 is a joyous occasion and provides great motivation for the remaining 7 stages.

‘I was comfortable throughout the ride, and as we approached the finish line, my teammate (Anton) Kuzmin pulled me forward, but I was still watching (Alexander) Kristoff (Uno-X Mobility). But when Kristoff slowed down and Blikra started to accelerate, I also began my sprint in the last 300 meters and finally won.

?’Being in a WorldTeam gives me more confidence, especially since I felt comfortable and calm throughout the race. Winning the first stage and wearing the leader’s jersey gives me confidence, but I know the responsibility is getting bigger. However, we will stay focused and concentrate day by day because there are many more stages to come,’ said the 31-year-old rider who also won stages at the Tour of Presidential Turkiye and Tour of Hainan this year.

??Meanwhile, Nur Aiman, who is also this year’s national road and individual time trial champion, proved he is more prepared in his third appearance at PLTdL25.

?’The coach told me to try to make a breakaway, and that’s what I did. I’m happy with the white jersey (Best Asian Rider) and the second position in the GC. I have confidence and hope to do something even bigger for the team in Stage 3 (Gerik-Pasir Puteh),’ he said, referring to the three early climb zones before the long flat route after crossing the Titiwangsa Range.

Although the race started in the rain with a total of 129 riders, the pace turned aggressive when Unibet-Tietema Rockets rider Aiden Maire initiated a break after 30km, and he was joined by Nur Aiman, George Mitsui (Aisan Racing Team) and Nate Hadden (St George) to form a small leading group.

?This group was only 1 minute 50 seconds ahead before the peloton, driven by the Astana, Tudor and Uno-X teams, chased and caught them immediately after passing the third sprint zone.

Carman’s brief breakaway allowed him to conquer the easy Category 4 climb zone at Bukit Malut, before he was caught. Although one or two riders attempted a late break, the script for the Stage 1 finish still ended with a bunch sprint to the finish line.

?One rider from the KSPO team, Lee Hosan, failed to complete the first stage and is out of the competition, further complicating matters for the South Korean Continental team which only fielded five riders this time.

?Stage 2 of PLTdL25 will start in Padang Besar, Perlis to Kepala Batas, Penang tomorrow, covering a distance of 166.1km and it is once again expected to end with a bunch sprint to the finish line on Jalan Tun Hamdan Sheikh Tahir.

?Without any climb zones, three intermediate sprint zones in Jitra (km54.0), Pendang (km90) and Sungai Petani (km142.9) will see fierce competition for the green jersey, the orange jersey and the white jersey.