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A LAWMAKER on Tuesday warned that Co’s resignation should not erase accountability for alleged abuses tied to his party-list group, Ako Bicol, saying it exposes systemic weaknesses in Congress.

Cebu Rep. Duke Frasco alleged that Co, as a shareholder of construction firms, profited from billions of pesos worth of projects inserted in the national budget during his term as Appropriations Committee chair. He argued that by resigning, Co evaded sanction from the House but left his party list unaffected, a move he described as ‘impunity.’

But Ako Bicol Rep. Alfredo Garbin pushed back, calling Frasco’s remarks ‘mere conjecture’ unsupported by evidence or legal findings. He invoked the constitutional presumption of innocence, stressing that no case has yet been filed against Co.

‘The resignation of Cong. Zaldy Co should not, and cannot, erase his crimes, nor absolve Ako Bicol Partylist, the vehicle through which these abuses were committed,’ Frasco said.

‘While Co walks away, his conduit, Ako Bicol Partylist, keeps its seat, benefits, and power as if nothing happened. This is not accountability. This is impunity,’ Frasco stressed.

Citing Section 141 (h) of the House Rules, Frasco said, ‘A Member shall not acquire or receive any personal pecuniary interest in any specific business enterprise which will be directly and particularly favored or benefited by any law or resolution authored by the Member that is approved or adopted by Congress during the Member’s term.’

‘Accountability must extend beyond individuals. If consequences are limited only to a nominee, Congress sets a dangerous precedent: that members can violate rules, resign to avoid expulsion, and leave their party untouched. To protect the integrity of our institutions, Ako Bicol Partylist must face investigation, sanction, and, if warranted, disqualification,’ he added.

Garbin, however, that under the 1987 Constitution, Co enjoys the presumption of innocence unless and until charges are filed and proven before a competent court. ‘To prejudge Zaldy Co in the absence of due process would be a dangerous erosion of the rule of law itself,’ Garbin added.

He added that resignation does not shield Co from investigation, citing jurisprudence that public officials remain liable for acts committed in office even after stepping down.

Garbin also dismissed allegations of conflict of interest, saying Co had long divested from any construction-related businesses prior to assuming office. He further clarified that the insertion of funds into the General Appropriations Act (GAA) is a legitimate congressional process.

‘Even as Chairman of the Appropriations Committee, Zaldy Co is not powerful enough to railroad provisions of the budget according to his sole wishes. The GAA undergoes rigorous deliberation in both Houses of Congress, bicameral scrutiny, and final approval by the President,’ he said.

Garbin said the party-list should not be dragged into the controversy, noting its separate juridical personality under the Party-list System Act. ‘To punish Ako Bicol for unproven allegations against one nominee would disenfranchise the millions of Bicolanos who vested their trust in Ako Bicol,’ Garbin said.

Meanwhile, Akbayan Party-list Rep. Perci Cendana has called on Co to come home and confront the allegations leveled against him, stressing that the issue now affects not only Co but also the entire House of Representatives.

‘He should come back and face these allegations. This is no longer just his personal issue-it has become an institutional matter that taints the House as a whole,’ Cendana said.

There is definitely growth outside the National Capital Region (NCR) for the country’s property sector. Moreover, there is a strong demand for horizontal (house and lot/lot only development) units.

Joey Roi Bondoc, research head of Colliers Philippines, says seasoned investors would really look for potential sites outside Metro Manila because of the low yields in Metro Manila. ‘If you’re banking on yields, the returns are very low, around 3 to 4 percent,’ Bondoc told the BusinessMirror in an interview held in Makati City.

‘And if you are an astute investor at this point, it doesn’t make sense to still invest in Metro Manila, because prices aren’t really declining and the rents have softened substantially because of the exodus of the Philippine Offshore Gaming Operators. With the yields being very low, you’re now banking on the price appreciation of the lot only,’ Bondoc adds.

Bondoc says the competitive pricing makes the investment proposition in the provinces, particularly the lot-only segment, far more compelling. For instance, there’s a project like Santa Lucia Land Inc.’s Beverly Place in San Fernando, Pampanga, that has shown strong potential for price increases, which is a more sustainable investment right now.

The demand outside of Metro Manila is fundamentally different-it’s driven by the end-user, not the speculative investor. Furthermore, Bondoc says the shift towards areas outside the National Capital Region (AONCR) and lot only are sustained price appreciation, greater push for sustainability, bigger and more open space, improving road network to and from Metro Manila, and vacancy in Metro Manila condominiums remains elevated and its yields have gone down.

According to Colliers, the average take-up rates of H and L units end-Q2 2025 ranged from 86 to 98 percent. On a per region basis, Southern Luzon posted the highest take-up with 94 percent followed closely by Central Visayas (93 percent) while Davao Region and Western Visayas were tied in third spot with 92 percent and Central Luzon was in fourth with 91 percent.

Cavite bagged the largest takeout with 155,000 followed by Laguna (89,000), Batangas (84,000), Pampanga (65,000), and Cebu (61,000).

For the lot-only market in AONCR, Colliers Philippines reported that the average take-up rate of lot-only units in the end Q2 2025 ranged from 81 to 96 percent. Central Visayas led in the regional take-up with 94 percent. Southern Luzon were tied in the second spot with 93 percent while Davao Region and Western Visayas garnered 92 and 83 percent respectively.

Batangas got 31,000 take-outs followed by Cavite (30,000), Laguna (28,000), Pampanga (24,000) and Cebu (22,000).

Sta. Lucia sees opportunities outside NCR.

The Marbella Lake Residences in Victoria, Laguna, and Sta. Monica Lake Residences in Manaoag, Pangasinan are prime investment opportunities from Sta. Lucia Land Inc. Furthermore, the fundamental value of these properties lies in the lake community concept itself. Both developments offer a mix of residential lots (including prime lakefront/lakeview lots) and commercial lots, providing diverse avenues for business and capital appreciation.

The soon to rise Marbella Lake Residences is the first lake community in Victoria, Laguna and occupies an estimated 73 hectares of land. Incorporating the gifts of nature in the development, Marbella Lake Residences is designed to be a verdant community where future residents are engaged to spend more time in outdoor recreation and embrace prime modern living elevated with greener features.

The prominent feature of the lake community is the man-made lake area built with a lighthouse. While other amenities include a community clubhouse built with a swimming pool, function hall and multipurpose basketball court. Home buyers have a variety of options with its selection of promising lots which are either regular lots or lakefront lots.

As the first lake community in Victoria, Laguna, Marbella is designed as a verdant community that encourages outdoor recreation. Prices vary according to lot type and location; and can range from P12,800 up to P25,200 per square meters. Select residential lots are also being offered at a discounted rate of P10,800 until December 31, 2025.

Meanwhile, Sta. Monica Lake Residences is Sta. Lucia’s first development in Manaoag, Pangasinan-the ‘Pilgrimage Center of the North’-a location that gives the community a strong cultural and historical identity. The property features a lake, lighthouse, and open jogging paths, alongside a multipurpose clubhouse with a function hall and basketball court

Price range starts from P 8,000 to P20,500 per square meter, offering competitive entry prices for investors.

Investing either in Marbella or Sta. Monica Lake Residences means securing a property in a meticulously planned, nature-focused community with a high potential for appreciation, supported by the extensive track record of Sta. Lucia Land Inc.

UNIVERSITY of Santo Tomas and National University aim to join idle Ateneo atop the University Athletic Association of the Philippines Season 88 basketball standings on Wednesday at the UST Quadricentennial Pavilion Arena.

The game starts at 4:30 p.m.

Eyes will be on Nigerian reinforcement Collins Akowe, a former NU Bullpup, who averaged 24.5 points and 18 rebounds in the victories over defending champion University of the Philippines and last year’s runner-up La Salle.

The Tigers are eyeing their first 3-0 start since 2015, the year UST last reached the finals.

Also expected to deliver are Forthsky Padrigao and Nic Cabañero.

NU coach Jeff Napa says the Bulldogs need to work on a lot of things to challenge for the semifinals.

‘Number one is consistency,’ Napa said.

The Bulldogs will lean heavily on Senegalese center Omar John, who averages 12 points and 5.5 rebounds.

In the 2 p.m. game, La Salle tries to get back on track when it takes on Far Eastern University.

The Green Archers split their first two outings, while the Tamaraws are still winless after two games.

THE growth of the country’s export earnings continued to slow in August 2025, according to the latest data released by the Philippine Statistics Authority (PSA).

Based on the International Merchandise Trade Statistics of the Philippines, the country’s exports grew 4.6 percent to $7.06 billion in August 2025 from the $6.75 billion posted in the same period last year.

It can be noted that after peaking at 26.9 percent in June 2025, export earnings slowed to 17.6 percent in July and posted single-digit growth in August.

‘The year-to-date total value of exports, that is from January to August 2025, amounted to $55.7 billion. This represents an annual increase of 12.6 percent from the year-to-date total export value of $49.45 billion in January to August 2024,’ the PSA said.

The commodities that posted contractions in August were copra oil cake or meal which contracted 71.9 percent in August, followed by unmanufactured tobacco at 67.8 percent; other products manufactured from materials imported on consignment basis, 63.4 percent; copper concentrates, 62.5 percent; and other fruits and vegetables, 62.4 percent.

Commodities that posted the fastest growth in August were led by other forest products which surged 200.3 percent; gold, 153.4 percent; footwear, 127.2 percent; iron and steel, 91.2 percent; and desiccated coconut, 89.9 percent.

‘The commodity group with the highest annual increment in the value of exports in August 2025 was electronic products with $303.79 million. This was followed by gold with an annual increase of $160.37 million, and other mineral products with an annual increment of $112.09 million,’ the PSA stated.

Further, PSA said electronic products remained the country’s top exports in August 2025 with total earnings of $3.87 billion or 54.8 percent of the country’s total exports during the period.

The data showed this was followed by other mineral products with an export value of $384.26 million, accounting for 5.4 percent of the total; and machinery and transport equipment with $363.65 million, or 5.1 percent of total export earnings.

Import receipts

Meanwhile, the country’s import receipts amounted to $10.6 billion, indicating an annual decrement of 4.9 percent from the $11.15 billion import value in the same month of the previous year.

In July 2025 and August 2024, the PSA said that the country’s import value recorded annual increases of 5.8 percent and 2.9 percent, respectively.

In August 2025, the PSA said the commodity group with the highest annual decrement in the value of imported goods was mineral fuels, lubricants and related materials with $611.83 million.

This was followed by metalliferous ores and metal scrap, which decreased by $168.7 million, and cereals and cereal preparations with an annual decline of $86.15 million.

‘The year-to-date total import value from January to August 2025 amounted to $88.08 billion. This represents an annual increment of 5.1 percent from the year-to-date total import value of $83.78 billion in January to August 2024,’ the PSA said.

China top export market, import source

Meanwhile, the PSA said the country’s top export market and import source for August 2025 was China.

In terms of exports, Hong Kong, China was the country’s top export destination with an export value amounting to $1.19 billion or a share of 16.9 percent to the country’s total exports in August 2025.

Other top export partners for the month were the United States of America (USA), $1.09 billion or 15.4 percent of the total; Japan, $979.00 million, 13.9 percent; People’s Republic of China, $849.32 million, 12 percent; and Republic of China (Taiwan), $292.18 million or 4.1 percent of total exports.

In terms of import source, the People’s Republic of China was the country’s largest supplier of imported goods valued at $3.19 billion or 30.1 percent of the country’s total imports in August 2025.

Other import sources included Republic of Korea with an import value worth $848.93 million or 8 percent of total imports; Indonesia, $838.78 million or 7.9 percent of total; Japan, $731.06 million or 6.9 percent of total; and USA, $698.41 million or 6.6 percent of the total.

WHILE the government boosted its release of cash allocations, state agencies’ budget use slipped to 93.8 percent as of the end of August, according to the Department of Budget and Management (DBM).

Latest data from the DBM showed that the notices of cash allocation (NCAs) released to government agencies hit P3.356 trillion from January to August this year.

The figure is higher by 7.43 percent from the P3.124 trillion disbursed in the same period last year.

An NCA is a disbursement authority issued by the DBM to government agencies to pay their operating expenses, purchases of supplies and materials, as well as programs and projects.

Following the NCAs released by the DBM as of end-August, government agencies only used P3.147 trillion, posting a utilization rate of 93.8 percent.

However, the cash utilization rate was lower compared to the 95 percent recorded during the same period a year ago.

A higher NCA utilization rate shows the capacity of line agencies to timely disburse their allocated funds and implement their programs and projects.

DBM data further showed that line departments utilized P2.288 trillion or 91.9 percent of the P2.490 trillion in NCAs disbursed to them. The utilization rate was also slightly lower than the 93 percent posted a year ago.

Among the departments, the Department of Public Works and Highways (DPWH) and the Department of Education (DepEd) receive the highest NCAs worth P646.698 billion and P484.589 billion, respectively.

DepEd’s use of its cash allocations moderately improved at 95.8 percent compared to last year’s 95 percent, while DPWH’s budget utilization marginally slowed to 94.3 percent from 95 percent a year ago.

Based on the data, none of the line departments achieved a 100 percent utilization rate of its cash allocations during the eight-month period.

Still, the Commission on Audit registered the highest NCA utilization rate at 99.6 percent, trailed by the Department of Migrant Workers with 98.8 percent and the Department of Foreign Affairs with 98.5 percent.

Furthermore, budgetary support provided to government-owned and -controlled corporations (GOCCs) reached P82.843 billion as of end-August, lower by 10.47 percent year-on-year from P92.540 billion.

Of the amount, P81.697 billion was utilized, equivalent to 98.6 percent, slightly down from last year’s 99 percent.

Meanwhile, NCAs allotted to local government units (LGUs) amounted to P783.083 billion. Approximately P777.298 billion of this amount was utilized, or 99.3 percent.

State agencies, including LGUs, have a remaining P209.082 billion in unused NCAs as of the end of August.

Out of the record P6.326-trillion national budget for this year, 95.5 percent or P6.041 trillion has been released as of the end of August.

For 2026, the national budget is proposed at P6.793 trillion, 7.4 percent higher than this year’s level.

The Department of Migrant of Workers (DMW) expressed concern on the recent reported attack by Houthi rebels on a Dutch-flagged cargo ship, Minervagracht, after it was reported that a Filipino was among its 19 crew members.

The agency said it is currently coordinating with the ship operator, employer, manning agency, and the Department of Foreign Affairs (DFA) to verify if a Filipino was among those affected from the incident.

‘Once it is verified, DMW is prepared to give immediate assistance [to the affected Filipino seafarer],’ DMW said in Filipino in a statement issued last Tuesday.

‘We will provide further updates as soon as details are confirmed,’ it added.

It said its package of support for the affected Filipino sailor and his or her family will include medical assistance, repatriation, counselling and psychological support, and legal aid.

According to international news reports, Minervagracht was set on fire after it was attacked with an explosive by Houthi rebels.

The European Union maritime mission Aspides rescued the crew of the Dutch-flagged ship, which supposedly included a Filipino sailor, before they were transported to Djibouti.

DMW has been closely monitoring the status of ships with Filipino crew members, which pass through the Gulf of Aden and the Red Sea due to Houthi attacks.

Last July, two ships-Magic Seas and Eternity C-with Filipino sailors were attacked by Houthi rebels while sailing in the said dangerous waterways.

The said incidents prompted DMW to impose stricter measures for shipowners and manning agencies, which have ships with Filipino sailors passing through the Gulf of Aden and the Red Sea.

‘In accordance with the directive of President Ferdinand R. Marcos Jr., the DMW continues to strengthen the protection and care for seafarers-especially in high-risk areas such as the Gulf of Aden,’ DMW said.

JUSTICE Secretary Jesus Crispin Remulla on Tuesday debunked accusations that former House Speaker Martin Romualdez is being shielded by the government from the ongoing investigation into the multibillion corruption in flood control projects.

At a press briefing, Remulla stressed that the Justice department is now looking into the possible culpabilities of Romualdez over questionable budget insertions and kickbacks from flood control projects.

‘We are already studying everything, liability-wise because [resigned Ako Bicol Party-list Representative] Zaldy Co, as the chairman of appropriations, is well-known as the Speaker’s choice. We all know that.He’s the one the Speaker trusted, and he was the one placed there,’ Remulla explained.

‘So, even from the start, you already know that something was not right with what’s now coming to light,’ he added.

Remulla made the statement after Senator Francis ‘Chiz’ Escudero accused Romualdez of providing the script to implicate senators in the flood-control project anomalies in order to divert the public’s outrage away from him.

The DOJ secretary assured the public that no one will be spared from its ongoing investigation.

‘We’re not protecting anyone here. This is really for the country. There is nothing personal here. This is beyond friendships. It’s beyond school connections or fraternal ties. It’s already beyond all that because what’s at stake here is the Filipino people-our country is what’s at stake. ‘We cannot allow this to be neglected,’ Remulla stressed.

‘He is among those we are seriously looking into as someone who may have liability here,’ he added, referring to Romualdez.

Acting Philippine National Police (PNP) chief Lt.. Gen. Jose Melencio Nartatez Jr. has ordered local police units to coordinate with concerned agencies in the conduct of search and rescue missions for all the missing persons as a result of the series of weather disturbances that hit the country last week.

He also said that he understands what it feels to have missing relatives and family members and emphasized the need to show them that the national government, including the PNP, will exhaust all the measures to locate their kin.

‘I have already ordered our territorial forces to assist in the operations to locate those in the missing list,’ Nartatez said.

Based on the latest National Disaster Risk Reduction and Management Council (NDRRMC) situational report, 12 of the missing persons were in Eastern Visayas, two in Oriental Mindoro, and one each in Bicol Region and Western Visayas.

Meanwhile, Nartatez said the PNP remains in full coordination with the NDRRMC and local government units in relation to the post-disaster response in Masbate, the Mindoro provinces and other areas severely affected by ‘Opong.’

He said the coordination includes deployment of personnel and PNP resources needed in relief distribution and rehabilitation programs of affected areas.

THE Government Service Insurance System (GSIS) asked Congress to provide a clearer policy direction on its investments, following Senator Risa Hontiveros’ concerns over its P1-billion investment in online gambling firm DigiPlus.

GSIS President and General Manager Jose Arnulfo A. Veloso emphasized that the state pension fund’s mandate is to grow and protect members’ contributions through investments that are legal and transparent.

‘We would like to get the wise wisdom of this committee and your chamber. We are just being obedient, if this is what the people want, let us change the policy so we could be guided,’ Veloso said mostly in Filipino.

‘We were told that if the company is legal and listed by the Philippine Stock Exchange, then we could invest in it.’

The pension fund chief clarified that investments are made within strict guidelines, with focus on profitability, liquidity, and security.

Veloso highlighted that the GSIS portfolio remains largely concentrated in low-risk assets, including government bonds, loans to members, and income-generating real estate properties.

Citing the pension fund’s performance, Veloso said GSIS assets reached P1.88 trillion in the first half of the year, an increase from P1.54 trillion in 2022.

Net income in the first half of the year climbed to P77.82 billion, marking a 30 percent increase from the same period last year.

He said the actuarial life of the GSIS fund is secured until 2058, reflecting the sustainability of its investment strategy and its capacity to meet the obligations of future retirees.

Still, Senator Risa Hontiveros pressed Veloso on why GSIS chose to invest in DigiPlus, despite the social costs associated with online gambling.

Veloso acknowledged these concerns but clarified that the investment decision was based strictly on financial and legal considerations.

‘I cannot impose my own moral standards because our duty is to be able to grow the fund,’ Veloso said.

Meanwhile, the Commission on Audit (COA) flagged the DigiPlus investment and recommended that GSIS prepare recovery plans for its stock exposures ‘at a term not disadvantageous to the fund.’

COA further advised GSIS to review its investment policy guidelines and align them with the GSIS Charter, which outlines limitations on fund placements.

Veloso said the fund has already drawn up recovery plans covering DigiPlus and other equity holdings identified by the audit.

However, he explained that the fund is waiting for more stable market conditions before executing any recovery plans

THE Philippine Economic Zone Authority (Peza) has approved P154.70 billion worth of investments in the January to September 2025 period, up 33.50 percent compared to the P115.87 billion approved in the nine-month period last year.

The investment promotion agency said these approved investments in the nine-month period this year are seen to generate 50,430 jobs.

Meanwhile, Peza said these investments may result in $4.49 billion worth of export revenues.

The approved investments in the January to September 2025 period comprise 215 newly approved projects spread across various sectors.

Of the 215 approved projects, Peza said 98 are into Manufacturing; 55 are in the IT and Business Process Management (IT-BPM) sector; 18 are into Domestic ecozones; 16 are Facilities; 17 are into Ecozone Development; 7 into Logistics and 4 are into Utilities.

As for the location of these investments, Peza said 178 projects are set to rise in Luzon; 29 in Visayas and 8 in Mindanao.

By source of investments, Peza pointed out that Japan has ‘reemerged’ as the top investing nationality of Peza. From January to September 2025, Japanese firms chipped in P14.78 billion in new and expansion projects, accounting for 9.55 percent of the investments generated by the investment promotion agency in the nine-month period.

According to Peza, at the ‘forefront’ of this resurgence is the registration of a domestic market enterprise in Tarlac City which is set to manufacture food products and processed foods inside the Tari Estate.

‘Valued at over P9.1 billion, this Japanese flagship food processing facility, one of September’s big-ticket approvals, will cater to both domestic and export markets and anchoring industrial growth in the Luzon Economic Corridor [LEC],’ Peza said.

In September 2025 alone, the investment promotion agency was able to greenlight 36 new and expansion projects worth P48.87 billion. These investments are seen to be generating $1.11 billion in export revenues and creating 10,312 jobs.

For his part, Peza Director General Tereso O. Panga said: ‘Japan’s return as our leading partner reflects the fruit of our investment missions and strong collaborations with stakeholders. With nearly 10 percent of this year’s total project approvals coming from Japanese companies, we see undeniable proof of the Philippines’ standing as a trusted and highly competitive hub in Asia.’