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The Month's Highlights

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The Month's Highlights the month’s highlights 1 Political JBC: 13 names for Associate Justice post The Judicial and Bar Council (JBC) has received 13 nominees to become the next associate justice of the Supreme Court PAST DEVELOPMENTS (SC), the post vacated by Chief Justice Maria Lourdes Sereno. (see story page on p11) ‘Trillanes not part of crafting China policies’ – Malacañang Malacañang clarified that Sen. Antonio Trillanes IV was not Economy one of the country’s policy makers on affairs with China and he was only allowed by President Aquino to explore an open avenue to ease tensions between the two countries when the Panatag (Scarborough) Shoal standoff broke out nonetheless it PAST DEVELOPMENTS raised serious question as to how the President is conducting negotiations with China. (see story page on p7) PH competitiveness up 10 places anew The Philippines jumped 10 places for the 2nd straight year to Pulse Asia: 78% of Filipinos approve of Pres. Aquino’s end up being the 65th most competitive in the world out of performance 144 countries and economies surveyed in the World Economic The Pulse Asia survey conducted in the first week of September Forum (WEF) Global Competitiveness Report 2012-2013. showed that President Aquino’s satisfaction and trust ratings (see story page on p12) improved to 78%. According to the poll, almost 8 in 10 Filipinos were satisfied with Pres. Aquino’s performance and expressed Peso rate now at 4-year high trust in him. (see story page on p8) The peso rose to a 4-½ year high against the U.S. dollar in the 2nd week of September, peaking at P41.42:$1 by weekend, on Sec. Roxas, Sec. Abaya get CA confirmation for DILG, DOTC expectations that a stronger inflow of foreign funds will occur Department of Interior and Local Government (DILG) Secretary in emerging market economies like the Philippines in the near- Manuel Roxas II received his confirmation from the Commission term. (see story page on p15) on Appointments (CA) after Sen. Miriam Defensor-Santiago withdrew her threat to block it by invoking her one-person veto Less number of poor families in 3Q12 power. (see story page on p8) The number of families who considered themselves poor declined for the 2nd straight quarter to 9.5 million (47%) in the 3rd quarter FUTURE DEVELOPMENTS of 2012 from 10.3 million (51%) in the 2nd quarter, based on the results of the survey conducted by the Social Weather Stations Rep. Arroyo to undergo more intensive physical therapy (SWS) in August. (see story page on p16) Former President and now Pampanga Rep. Gloria Arroyo has to undergo more intensive physical therapy as the muscles holding FUTURE DEVELOPMENTS her cervical spine have atrophied and the pain in her neck has worsened. The 65-year-old Arroyo said in her Twitter account PIDS: manufacturing needs to be revitalized that she will have to undergo thrice-a-week physical therapy Josef Yap, president of the government think-tank Philippine at the Veterans Memorial Medical Center and would have to Institute for Development Studies (PIDS), said the country’s wear her neck brace for longer periods. (see story page on p9) manufacturing sector needs to be revitalized to make growth more inclusive during the launch of the 10th Development Comelec ready for 2013 automated elections Policy Research Month on September 3.(see story page on p13) Commission on Elections (Comelec) Chairman Sixto Brillantes assured congressmen that the poll body is now ready for the Gov’t planning to tap local dollar reserves for borrowing needs combined automated congressional and local elections in May The government is considering the option of buying dollars 2013. (see story page on p9) from the Bangko Sentral ng Pilipinas (BSP) to service part of its maturing foreign obligations or to sell dollar-denominated Gov’t urged to resolve contentious points in Malaysia peace bonds in the domestic market to finance its remaining foreign talks commercial borrowing requirement of $750 million this year. Government peace panel chairman Marvic Leonen urged the (see story page on p14) Moro Islamic Liberation Front (MILF) to immediately resolve the “remaining contentious points” in the peace talks in Malaysia so that they can bring home a viable “framework agreement” Business for a peaceful Mindanao. (see story page on p10) After 26 years, PCGG to be dissolved PAST DEVELOPMENTS The Presidential Commission on Good Government (PCGG) is preparing to shut down after 26 years of existence, with PCGG More OFW families save remittances - BSP Chairman Andres Bautista saying the agency has ended its global According to a survey conducted by the Bangko Sentral ng search for the hidden wealth of the late President Ferdinand Pilipinas (BSP) during the 3rd quarter of 2012, many remittance- Marcos. (see story page on p10) dependent households are becoming financially literate as more of these households save and invest a portion of the money they receive from abroad. (see story page on p30) Philippine Alert September 2012 2 the month’s highlights PH rankings in corporate governance and economic freedom up …as IT solutions also used to improve transparency in other Corporate governance (CG) and economic freedom (EF) have government duties improved in the country. Based on rankings, however, the The Aquino administrations’ Good Governance and Anti- Philippines remained at the bottom with Indonesia in CG while Corruption Cluster Plan (2012-2016) focuses on transparency, it made the highest leap in EF among Asian countries. accountability, and citizen engagement. Besides the reform (see story page on p32) measures being pursued to improve the utilization of the national budget, the government is also tapping IT solutions FUTURE DEVELOPMENTS for the better execution of other public duties. (see story page on p37) Japanese investors’ interest rising The country has been receiving growing interest from Japanese Infrastructure investors. Reasons for the rising interest were indicated in the survey by the Japan External Trade Organization (Jetro). PAST DEVELOPMENTS However, the inability of the government to grant promised Metro Manila flood control master plan gets funding incentives, such as tax rebates, has long affected existing Japanese firms’ operations. (see story page on p28) The newly-crafted flood control master plan for Metro Manila gets traction after receiving P5 billion from the national BSP tightens upon banks’ real estate loan exposure budget. This is the initial funding for the 2-decade master plan that aims to permanently address the problem of flooding The Bangko Sentral ng Pilipinas (BSP) has imposed a new measure in the metropolis. The amount will finance structural flood that will limit exposure of banks on real estate loans. mitigation measures in Metro Manila and nearby provinces. (see story page on p29) (see story page on p45) Growth to accelerate in 4Q2012 but with less expansion plans FUTURE DEVELOPMENTS The 3Q2012 Business Expectations Survey of the Bangko Sentral ng Pilipinas (BSP) indicate a buoyant outlook for 4Q2012 due to NEDA approves LRT-2 East Extension the sound macroeconomic factors of the country and declining business constraints. This upbeat outlook, however, did not The NEDA (National Economic and Development Authority) come with a rise in expansion plans. (see story page on p31) Board recently approved the Light Rail Transit Line 2 (LRT-2) East Extension Project. This is a P9.8-billion project that would Mining, Oil and Gas extend the LRT-2 from its existing terminus at Santolan, Pasig City to Masinag Junction in Antipolo. The NEDA Board approval was earlier deferred to make way for a population study to Philex slapped with P1Bn penalty over Padcal leak determine the project’s viability. The project financing has The Mines and Geosciences Bureau (MGB) is imposing a fine of yet to be finalized, but railway completion is eyed by 2016. P1.034 billion on Philex Mining Corporation for a tailings pond (see story page on p47) leak at its Padcal mine in Tuba, Benguet. Philex Mining has filed an appeal to contest the penalty arguing that paying the fine …and 2 big ticket airport projects in key tourist destinations implies the company’s negligence and liability. Philex maintains The NEDA Board also gave its approval to 2 big ticket airport that the spillage was caused by factors beyond control and not projects in key tourist destinations in the Luzon and Visayas an error or lapse of the company. (see story page on p35) regions. These are: the Bicol Airport Project and the New Bohol Airport Project. Both these projects involve the development Mining IRR revisions finally approved of new domestic airports to replace the existing airports in President Aquino has approved the revised implementing their respective provinces that are hounded by issues of limited rules and regulations (IRR) of the new mining policy Executive capacity for expansion and operational safety concerns. Order (EO) No. 79 after several mining industry players raised (see story page on p49) concerns over the provisions in the original IRR issued. Mines and Geosciences Bureau (MGB) Director Leo Jasareno said the CongressWatch IRR revisions are already final. (see story page on p35) 2013 budget approval by yearend IT Update Both the House of Representatives and the Senate remain on-track in deliberating the proposed P2.006-trillion national Aquino administration taps IT in budget-related anti- budget for 2013. The Lower chamber has approved the budget corruption action plan… on 2nd reading and is expected to transmit its version to the The Aquino administration’s anti-corruption campaign has a Senate before end-October. President Aquino is seen to sign wide reach, extending as well to issues of transparency and the General Appropriations Act (GAA) 2013 into law before accountability in the utilization of the national budget.
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