The Philippine Economy - Compiled Threads [Archive] - Page 119

betoy

December 2nd, 2011, 11:16 AM

Pati eto papatawan na ng buwis! :ohno:

BIR taxing voluntary contributions to SSS, GSIS, Pag-IBIG, PhilHealth (http://www.gmanetwork.com/news/story/238891/news/nation/bir-taxing-voluntary-contributions-to-sss-gsis-pag-ibig-philhealth)
EARL VICTOR ROSERO and MARLON ANTHONY R. TONSON
November 18, 2011 5:16am

Updated 11:35 a.m.— After tollways, government-backed bonds, professional fees, and retirement funds, the Bureau of Internal Revenue (BIR) has set its sights on collecting taxes on ordinary citizens’ payroll deductions made for their contributions to housing, health and pension funds – apparently despite legal provisions specifically exempting these from taxation.

BIR Commissioner Kim S. Jacinto-Henares claimed that, “It has been observed that the grant of income tax exemption to SSS, GSIS, PhilHealth, and Pag-IBIG contributions in excess of the mandatory contributions is being abused."

The BIR has admitted a collection shortfall of P35 billion this year. So starting last July, the BIR is collecting taxes on voluntary contributions made by citizens to the Social Security System (SSS), Government Service Insurance System (GSIS), Philippine Health Insurance Corp. (PhilHealth), and Home Development Mutual Fund (“Pagtutulungan sa kinabukasan Ikaw, Bangko, Industriya at Gobyerno" or Pag-IBIG Fund).

GMA News TV program “On Call" interviewed BIR Assistant Commissioner for Legal Service Marissa O. Cabreros on Revenue Memorandum Circular (RMC) 53-2011 which states that voluntary contributions to the SSS, GSIS, Pag-IBIG and PhilHealth are subject to tax.

The BIR said that such contributions are considered investments and thus taxable and the bureau will no longer entertain any request for tax exemption on them.

The BIR considers as “investments" the contributions made over and above those mandated by law, particularly because the benefits that members of these institutions are bound to receive – such as pension or loans extended – will be enhanced.

Voluntary contributions entitle members to avail of extra retirement, sickness, or unemployment benefits beyond regular or usual financial assistance extended to the members who only make mandatory contributions.

“Kung sasabihin po natin na exempt pati din yung voluntary, nawawalan ng tax po yun kasi kumbaga the exemption is no longer dictated by law but dictated by the income earner," explained BIR Assistant Commissioner Marissa Cabreros in a Nov. 18 interview with GMA News which was aired on "24 Oras," "SONA" and "Saksi."

Cabreros also gave an interview Friday morning on the “Talakayan with Igan" segment of GMA Network's "Unang Balita," where she explained to host Arnold Clavio the new Revenue memorandum circular.

New relevant BIR Circulars

Last Nov. 4, the BIR issued RMC 53-2011, seeking to clarify that RMC 27-2011 does not apply to contributions made before July this year.

RMC 27-11 was issued last July 2 and subjects to withholding tax on compensation the voluntary contributions to SSS, GSIS, PhilHealth and Pag-IBIG only covers voluntary contributions made beginning July 1 of this year.

RMC 27-11 also revoked BIR Ruling Nos. 002-99, DA-184-04, DA-569-04 and DA-087-06 – all of which are earlier rulings exempting such contributions from income tax.

RMC 53-2011 further clarified that only the mandatory or compulsory contributions of employees made to SSS, GSIS, PhilHealth and Pag-IBIG are exempt from income tax and consequently, from the withholding tax on compensation.

The voluntary contributions in excess of compulsory contributions are now considered taxable gross income subject to income tax and withholding tax on compensation.

Thus, the exemption from withholding tax on compensation referred to in Section 2.78.1(B)(12) of Revenue Regulations (RR) No. 2-98 shall apply only to mandatory/compulsory SSS, GSIS, Medicare and Pag-IBIG contributions – and not voluntary contributions.

Contrary to laws on tax-exempt contributions?

But the new BIR rule does not apply to contributions of PhilHealth members because contribution cannot exceed its mandated ceiling of P1,200 per year.

Likewise for GSIS and SSS contributions, these amounts are automatically deducted from the salaries of government employees as well as workers in the private sector. In other words, no voluntary contributions.

Businessmen, however, can become voluntary members of the SSS but they cannot raise the amounts of their contributions year in and year out.

The laws creating the GSIS, SSS, PhilHealth and Pag-IBIG Fund specifically provide for the tax-exemptions of contributions.

Republic Act (RA) 8291 (GSIS Act of 1997) provides in Section 39 that “It is declared policy of the State that …contribution rates necessary to sustain the benefits under this Act shall be kept as low as possible in order not to burden the members of the GSIS and their employers," and “[a]ccordingly, notwithstanding any laws to the contrary, the GSIS, its assets, properties, revenues including all accruals thereto, and benefits paid, shall be exempt by virtue of this Act from all taxes, assessments, fees, charges and duties of all kinds."

The same section states: “These exemptions shall continue unless expressly and specifically revoked."

RA 8282 (Social Security Law) in Sec. 16. states that “[a]ll laws to the contrary notwithstanding, the SSS and all its assets and properties, all contributions collected and all accruals thereto and income or investment earnings… shall be exempt from any tax, assessment, fee, charge, or customs or import duty; and all benefit payments made by the SSS shall likewise be exempt from all kinds of taxes, fees or charges."

Likewise, RA 9679 (Pag-IBIG Fund Law of 2009) states in Sec. 19 that “[a]ll laws to the contrary notwithstanding, …all contributions collected and all accruals thereto and income or investment earnings… shall be exempt from any tax, assessment, fee, charge, or customs or import duty; and all benefit payments made by the Pag-IBIG Fund shall likewise be exempt from all kinds of taxes, fees or charges."

Process of revoking tax exemptions

The cited legal provisions themselves provide how government, through Congress, can revoke tax exemptions on contributions.

RA 9679 states that “[n]o tax measure of whatever nature enacted shall apply to the [Pag-IBIG] Fund, unless it expressly revokes the declared policy of the State in Section 2 hereof granting tax exemption to the Fund."

RA 8282 provides: “No tax measure of whatever nature enacted shall apply to the SSS, unless it expressly revokes the declared policy of the State in Section 2 hereof granting tax exemption to the SSS.

RA 8291 states that “these exemptions shall not be affected by subsequent laws to the contrary, unless [Section 39] is expressly, specifically and categorically revoked or repealed by law and a provision is enacted to substitute or replace the exemptions grant."

Other recent tax moves

Henares’ new issuances on the taxation of voluntary contributions to pension and mutual funds is not her first time to reverse established policies.

The incumbent BIR chief issued BIR Ruling No. 370-2011 which “confirmed that the 20 percent final withholding tax is applicable to the so-called PEACe bonds."

This issuance reversed a decade old BIR Ruling No. 20-2001 which did not consider the PEACe bonds as deposit substitutes and therefore not subject to 20 percent final withholding tax.

Another new BIR regulation issued only last Oct. 27 pertained to or RA 9505 (Personal Equity Retirement Account or “PERA" Law), which was intended to encourage investment and saving among the middle class and overseas Filipino workers.

RA 9505 granted tax exemptions to PERA accounts with up to P100,000 or P200,000—depending on the type of account holders. Sec. 9 of the law states that “[a]ll income earned from the investments and reinvestments of the maximum amount allowed …is tax exempt," while Sec. 10 provides that “[a]ll distributions …are tax exempt."

Nearly three years after RA 9505 became a law, Finance Secretary Cesar Purisima issued, upon the recommendation of Henares, RR 17-2011 implementing the tax provisions of RA 9505. [See: PERA Law's conundrums: Who are OFWs? Where are they?]

RR 17-2011 enumerates the taxes the PERA is exempt from although the law itself does not enumerate any. It also provides that “non-income taxes, if applicable, relating to the investment income of the PERA Account of a Contributor, shall remain imposable," and those listed as imposable are value-added tax, documentary stamp tax, stock transaction tax, and percentage taxes.

LuckyLady

December 2nd, 2011, 11:29 AM

^^imo another stupidity of the gov't again!!! Why focus on small fish when all they have to do is catch more big fish or just reach their target by letting the system works well or efficient collection of taxes. It seems the gov't focus is always on the wrong target. :bash:

Wind Shear

December 2nd, 2011, 11:49 AM

As long as the National Government sucks, we gonna suck.

betoy

December 2nd, 2011, 11:55 AM

s40

December 2nd, 2011, 12:06 PM

^^ ewan, baka ideology ng current administration ay gawing socialist democracy eto tulad ng Western Europe..... gagawin nilang 50% taxes ang personal income pero lahat libre hehehe problema marami mahirap dito at palamunin hehehe

RonnieR

December 2nd, 2011, 12:31 PM

Inde ko talaga maintindihan. Diba labis na ang pagtitipid ng gobyerno? At meron ding datos nuon na nagsasaad na malaki ang nakolekta ng gobyernong Aquino sa programa nitong pagsupil ng korapsyon? Bakit sa pangkasalukuyan, nangangailangan pa ang gobyerno na magdagdag pa ng panibagong buwis? :ohno:

Our tax collections to GDP ratio is the answer. As per BIR, it's only 14%. Their target is between 16% to 18%. Year to date, BIR is short by less than 1%. I also believe that much can still be collected from the "big fish" as mentioned by LuckyLady.

william :D

December 2nd, 2011, 01:09 PM

Napocor seeks to recover costs by raising electric rates

National Power Corp. (Napocor) is asking the Energy Regulatory Commission (ERC) for permission to recoup P3.12 billion in generation cost, which means increasing electricity bills in Luzon by more than P2 per kilowatt-hour .

In its application with the ERC, Napocor said it has filed for the 7th Generation Rate Adjustment Mechanism (GRAM) and 7th Incremental Currency Exchange Rate Adjustment (ICERA) to recover cost and comply with the directives of the industry regulator.

The application falls under the recovery schemes under the Electric Power Industry Reform Act (EPIRA), which allows Napocor to apply for generation cost recovery by passing on the cost to consumers.

“We have filed for a recovery period of four years for the 7th GRAM and 7th ICERA because we do not want our consumers to be saddled with high power costs," Napocor said, in a statement Friday.

In its previous filings, Napocor sought to recover its generation cost within a year after its application has been approved.

read more (http://www.gmanetwork.com/news/story/240390/economy/companies/napocor-seeks-to-recover-costs-by-raising-electric-rates)

:ohno: hindi pa ito ang tamang oras NPC para magdagdag ng singil, marami magagalit niyan. tayo na nga pinakamataas sa Asya, madadagdagan pa ang rate? my gulay.

KnightOfTheFlag

December 2nd, 2011, 01:33 PM

Some words of wisdom from the self made billionaire and successful businessman who worked from the ground up to reach the skies...Manny Villar's expertise and experience in business management, investments and finance could "have been" applied to our lackluster MEDIOCRE ECONOMIC GROWTH...Yeah he has "some" issues so what??...he is not a saint LIKE SOME PEOPLE PORTRAY OUR CURRENT PRESIDENT IS :bash:...but as you can see from his track record...he is a DOER and ACHIEVER...too bad he didnt have the media clout and showbiz assets that Pnoy has.....

Chasing GDP: Leadership scorecard
Monday, 21 November 2011 20:48 Manny B. Villar / Entrepreneur

I decided to cite the recent survey by the two US poll entities and briefly recalled the performance of the US economy during Reagan as a fitting conclusion to this series of articles on the GDP and its relevance on the two major issues (investments and the poverty problem) that have, for many years, challenged Filipinos and the Philippine economy.

Actually, I believe the GDP is also related to a third issue: corruption. In my previous column I cited the simple equation between the GDP and poverty. Low GDP growth creates more poor people; conversely, high GDP growth reduces poverty.

Viewed from another perspective, if the drive against corruption results in underspending and, therefore, low GDP growth, then poverty will increase, which I believe creates a favorable environment for corruption. The less resources a person (including a government employee) has, the easier it is for him to succumb to the offer of bribe or to the opportunity to make a quick buck.

Thus, it exacerbates the corruption problem and negates the very objective of the drive against corruption. And, if high GDP growth is the ultimate solution to poverty, it is also the most effective and permanent solution to corruption....

Based on what I have discussed for the past three weeks, as well as the reference to President Reagan, the GDP is the scorecard of a country’s Chief Executive.

...The GDP numbers are like the grades that students receive, based on their performance in school. At the end of a president’s term, the GDP shows whether, like a student, he passes or fails, or whether he graduates with honors or flunks the course.

The big difference is that a student’s grades affect only him or his family, while the GDP scorecard affects not just a leader and his political career, but his country and millions of his countrymen

http://www.businessmirror.com.ph/home/opinion/19630-chasing-gdp-leadership-scorecard

......so guys.....pass or fail...

swing_vote

December 2nd, 2011, 01:38 PM

Pati eto papatawan na ng buwis! :ohno:

BIR taxing voluntary contributions to SSS, GSIS, Pag-IBIG, PhilHealth (http://www.gmanetwork.com/news/story/238891/news/nation/bir-taxing-voluntary-contributions-to-sss-gsis-pag-ibig-philhealth)
EARL VICTOR ROSERO and MARLON ANTHONY R. TONSON
November 18, 2011 5:16am

Updated 11:35 a.m.— After tollways, government-backed bonds, professional fees, and retirement funds, the Bureau of Internal Revenue (BIR) has set its sights on collecting taxes on ordinary citizens’ payroll deductions made for their contributions to housing, health and pension funds – apparently despite legal provisions specifically exempting these from taxation.

BIR Commissioner Kim S. Jacinto-Henares claimed that, “It has been observed that the grant of income tax exemption to SSS, GSIS, PhilHealth, and Pag-IBIG contributions in excess of the mandatory contributions is being abused."

The BIR has admitted a collection shortfall of P35 billion this year. So starting last July, the BIR is collecting taxes on voluntary contributions made by citizens to the Social Security System (SSS), Government Service Insurance System (GSIS), Philippine Health Insurance Corp. (PhilHealth), and Home Development Mutual Fund (“Pagtutulungan sa kinabukasan Ikaw, Bangko, Industriya at Gobyerno" or Pag-IBIG Fund).

GMA News TV program “On Call" interviewed BIR Assistant Commissioner for Legal Service Marissa O. Cabreros on Revenue Memorandum Circular (RMC) 53-2011 which states that voluntary contributions to the SSS, GSIS, Pag-IBIG and PhilHealth are subject to tax.

The BIR said that such contributions are considered investments and thus taxable and the bureau will no longer entertain any request for tax exemption on them.

The BIR considers as “investments" the contributions made over and above those mandated by law, particularly because the benefits that members of these institutions are bound to receive – such as pension or loans extended – will be enhanced.

Voluntary contributions entitle members to avail of extra retirement, sickness, or unemployment benefits beyond regular or usual financial assistance extended to the members who only make mandatory contributions.

“Kung sasabihin po natin na exempt pati din yung voluntary, nawawalan ng tax po yun kasi kumbaga the exemption is no longer dictated by law but dictated by the income earner," explained BIR Assistant Commissioner Marissa Cabreros in a Nov. 18 interview with GMA News which was aired on "24 Oras," "SONA" and "Saksi."

Cabreros also gave an interview Friday morning on the “Talakayan with Igan" segment of GMA Network's "Unang Balita," where she explained to host Arnold Clavio the new Revenue memorandum circular.

XXX

Contrary to laws on tax-exempt contributions?

But the new BIR rule does not apply to contributions of PhilHealth members because contribution cannot exceed its mandated ceiling of P1,200 per year.

Likewise for GSIS and SSS contributions, these amounts are automatically deducted from the salaries of government employees as well as workers in the private sector. In other words, no voluntary contributions.

Businessmen, however, can become voluntary members of the SSS but they cannot raise the amounts of their contributions year in and year out.

The laws creating the GSIS, SSS, PhilHealth and Pag-IBIG Fund specifically provide for the tax-exemptions of contributions.

Republic Act (RA) 8291 (GSIS Act of 1997) provides in Section 39 that “It is declared policy of the State that …contribution rates necessary to sustain the benefits under this Act shall be kept as low as possible in order not to burden the members of the GSIS and their employers," and “[a]ccordingly, notwithstanding any laws to the contrary, the GSIS, its assets, properties, revenues including all accruals thereto, and benefits paid, shall be exempt by virtue of this Act from all taxes, assessments, fees, charges and duties of all kinds."

The same section states: “These exemptions shall continue unless expressly and specifically revoked."

RA 8282 (Social Security Law) in Sec. 16. states that “[a]ll laws to the contrary notwithstanding, the SSS and all its assets and properties, all contributions collected and all accruals thereto and income or investment earnings… shall be exempt from any tax, assessment, fee, charge, or customs or import duty; and all benefit payments made by the SSS shall likewise be exempt from all kinds of taxes, fees or charges."

Likewise, RA 9679 (Pag-IBIG Fund Law of 2009) states in Sec. 19 that “[a]ll laws to the contrary notwithstanding, …all contributions collected and all accruals thereto and income or investment earnings… shall be exempt from any tax, assessment, fee, charge, or customs or import duty; and all benefit payments made by the Pag-IBIG Fund shall likewise be exempt from all kinds of taxes, fees or charges."

XXX

I think anyone who files a case against BIR to oppose these circulars will win. As the latin maxim says "UBI LEX NON DISTINGUIT NEC NOS DISTINGUERE DEBEMOS," where the law does not distinguish, one should not distinguish. BIR cannot just issue circulars taxing voluntary contributions if it is contrary to what the law states. The act of BIR Commissioner is ultra vires and outside the scope of her authority. An administrative regulation must be in harmony with, and cannot have the effect of amending or supplanting, the law that it is supposed to enforce (Melendres v. COMELEC). Thus, these circulars must be struck down as void.

But of course, we should also scrutinize how "investment" is defined and determine if this covers voluntary contributions. However, the laws on these contributions are the laws that must be applied since these are the laws that were enacted whose objects/subject matters are specifically these contributions, not the laws on investments. Where two laws are in conflict with each other with respect to a certain subject matter, the more specific law must rule over the more general one. In this case, the laws that specifically cover these contributions are the more specific ones. Ergo, these should be applied.

swing_vote

December 2nd, 2011, 01:47 PM

swing_vote

December 2nd, 2011, 01:58 PM

how true! almost everyone in the gov't is making our life hard. i was so shocked last time when i extend visa in taiwan, it was finished in more or less 5 minutes only without any fee. While in our country? I don't know if you can even finished it in a week. Although am happy about the visa thing but on theo ther side of my mind thinking about the situation in our country, i get mad and just get more desperations. So i really hope this business permit process, and other processes would be really simplified by the gov't but not only in one or particular palce but must be applied to the whole country. Many people are discourage to pay the right taxes and register the business as well as there's just so many factors that discourage one to do the right thing. So i really hope someone would do something about this.

Hi. I am working for a Congressman. On Monday, I will be showing him our discussions on the forum regarding this issue. Hopefully, he listens. If not, I will be sending a letter to the appropriate Congressional Committee in the Congress. I do hope, however, that if my first plan fails, some people would give me support in pushing this 2nd plan through. We need a stronger voice (i.e. more people supporting this cause) to have stronger convincing force. I'm also planning to create an SSC-based NGO which will make efforts on making our voices heard to the appropriate government officials on certain issues and problems. However, a certain moderater closed it down without offering any explanation (I still don't get why he wants to make other people's lives harder :ohno:). Anyhow, that's it.

todjikid

December 2nd, 2011, 01:59 PM

you are insulting the effort and dedication of those who work in freeports and export zones with your comments. :ohno:

this is another remark that shows you're a fantard.

You can't criticize if you havent transacted with them directly, but you can praise? Fantard.

The administration has no agenda other than ARROYO. Pathetic.

todjikid

December 2nd, 2011, 02:01 PM

What do you mean? What made you say it's "satsat" lang in the first place? The facts cannot be altered by a mere opinion.

We have more investments in eco zones this year vs. last year. Can't you accept that? If no, why???????

3.2%. Go figure.

NOVO ECIJANO

December 2nd, 2011, 02:17 PM

3.2%. Go figure.

go,todjikid you have a good taste,now you have a good judgement

-SNPKLSDMBLDR-

December 2nd, 2011, 03:16 PM

Pagpasensyahan na po ninyo. Inde ko po nais na magdulot ng alitan sa pagitan ng kampo ni Arroyo at Aquino. Subalit gusto ko lang po sabihin na eto talaga ang pinaka malaking minana natin sa kay Pangulong Arroyo.
Maraming salamat po Pangulong Arroyo sa ipinamana mo saamin. Kung inde ako nagkakamali, etong sektor na ito ang isa sa nagpapalutang ng ating ekonomiya lalong lalo na sa panahon ng krisis pang lokal man o sa buong mundo.
Ako po ay nagagalak na sa panahon ni Aquino, eto ay patuloy pang lumago. Sana inde ito mapabayaan at ipagpatuloy pa ang pagpapalago nito. :cheers::cheers::cheers::cheers:

Noynoy demoted the Commission on Information and Communications Technology (CICT) into just a mere office of DOST. I don't think ICT is a priority of Pnoy who thinks the entire LTO database can be saved in MS Excel which is according to them 'free' in all PC's. :nuts::lol:

Noynoy is driving the ICT industry of the country backwards.

coffeeworld

December 2nd, 2011, 05:15 PM

Wala bang WARNING MUNA bago e closed t0ng thread na to?sana man lang eh post dito sa thread na ito ang WARNING,hindi yung bigla nalang magcoclosed,kaya yung ma thread members hindi parin aware na malapit na pala mag coclosed. Alam kung CLOSED THREAD na naman ang papupuntahan nito eh?Pwede ba yung walang personal attacks?bahala na yung ipagkalat m0 na pakalb0 na c PNOY o Mamamatay na c gloria o pandak na Gloria,ABnoy..bahala na kayo wag lang mapik0n,kung pwede wag nlng pansinin o mag reply ka per0 walang personal attacks pwd ba?,

wino

December 2nd, 2011, 06:12 PM

todjikid

December 2nd, 2011, 06:19 PM

I thought the president made himself clear before.. "NO to new taxes" ????

He'd probably say - "No newly legislated tax reforms. Were just implementing the old."

That's the effect when we don't support industries and rely heavily on with-holding taxes. strategy ng tamad.

parang CCT - pangtamad na strategy. mamigay na lang tayo ng pera sa mihihirap.

wino

December 2nd, 2011, 06:23 PM

swing_vote

December 2nd, 2011, 06:31 PM

A message to the mods: please do not lock this thread down just because some forumers do not abide by the rules. There are just too many good inputs that if you close this down, some valuable information will be lost. Please, just brig them or anything. They deserve some sanctions but to deprive the nation of some important economic updates is an unwarranted sanction to the rest of us. Thank you...

swing_vote

December 2nd, 2011, 06:35 PM

todjikid

December 2nd, 2011, 06:45 PM

i guess the taxation is only for the over the allowable cap contributions which makes sense.. actually..

what people can do is ask the government for an additional cap percentage for the voluntary contributions.
This taxation move doesn't support people's initiative on investing on their future... didn't we want people to invest?

It will be a good move if the government can make some adjustments and give more leeway for people who wants to invest more. instead of taxing them on the spot.

Agree, that part he forgot. His self-righteous mantra would be "Kung si Kris nga e nagbabayad ng tax sa lahat ng bagay eh, kayo pa." The middle-effing-class is burdened with all kind of taxes and we are not showbiz talk show hosts who get paid by the millions. Nakukuba na tayo sa kakabayad, and we get a 3.2%?!?

We pay our taxes and we expect something in return! roads and infrastructure, lower prices for basic services (electricity, gas, etc), efficient government offices, and better education system, and yes, that includes our State Universities...!

When we criticize the government, it is because we put so much hope in P-NOY who seems to be the first one to conjure excuses for his KKKs. And did we get a president who is just a Kris Aquino in barong? I hope I'm wrong.

Usapang lasing lang palagi ang naririnig ko sa mga cabinet secretary - Butch ABAD, Dinky SOLIMAN at Lacierda...etc....etc...Pag-untugin ko kayo e.

swing_vote

December 2nd, 2011, 06:52 PM

Just to repeat, the taxes on voluntary contributions is contrary to law, so it must be struck down by the Supreme Court as void. We just need someone to file a case against this...

wino

December 2nd, 2011, 06:57 PM

I am not really familiar with taxation laws in the Philippines..
but if what you are saying is accurate.. taxation will be illegal then...

(I guess my previous point is only applicable if the new taxation is actually legal... )
the Philippines hasn't even defined the percentage of allowable CAP for contributions are... whether mandatory or voluntary... MY BAD!

swing_vote

December 2nd, 2011, 07:03 PM

I am not really familiar with taxation laws in the Philippines..

but if what you are saying is accurate.. taxation will be illegal then...

i'm not saying that taxation is illegal. what i'm saying is that the BIR circulars stating that voluntary contributions are taxable are contrary to law because the law states "ALL contributions are exempt from taxation." the law didn't distinguish between voluntary and mandatory contributions so why should the BIR commissioner distinguish? Between the laws/statutes passed by the Congress and the BIR circulars, the former are binding on the populace and should rule over the BIR circulars because what gave the BIR the power to collect taxes is the Legislature. Collection of taxes is indeed a power of the BIR but it must not transgress any existing law...

swing_vote

December 2nd, 2011, 07:06 PM

(I guess my previous point is only applicable if the new taxation is actually legal... )
the Philippines hasn't even defined the percentage of allowable CAP for contributions are... whether mandatory or voluntary... MY BAD!

The laws did not distinguish. They only said that ALL contributions are exempt from taxation. That should be very clear to everyone. Thus, all these contributions must not be taxed...

Eastern Dragon

December 3rd, 2011, 12:52 AM

The laws did not distinguish. They only said that ALL contributions are exempt from taxation. That should be very clear to everyone. Thus, all these contributions must not be taxed...

i had mixed feelings about this earlier in the year as my previous employer said that contribution had to revert to the minimum. wtf? what gives and the HR people said it had to with it being taxable. :lol::lol::lol:

eto talaga si kim, ang tigas ng ulo. :ohno:

Perseus II

December 3rd, 2011, 01:05 AM

The laws did not distinguish. They only said that ALL contributions are exempt from taxation. That should be very clear to everyone. Thus, all these contributions must not be taxed...

Even if the law says otherwise ... morally that is not right. Contributions and savings are some of the ways for common folks to save money tapos bubuwisan mo pa, HINDI NA TAMA :ohno:

Tumaas na nga pamasahe natin dahil sa EVAT :ohno:

eh kung buwisan na lang nila bawat nanganganak... baka mapabagal pa natin ang ating pagdami :lol:

Batang_genio

December 3rd, 2011, 01:22 AM

The laws did not distinguish. They only said that ALL contributions are exempt from taxation. That should be very clear to everyone. Thus, all these contributions must not be taxed...

This is enslavement. Where will these extra revenues raised by the BIR go to? To vote-buying CCT dole outs, and to pay for the "just compensation" for the Hacienda Luisita.

This is the only economy that hacienderos know: enslave the workers to enrich themselves. Squeeze the middle class and keep the heaving unwashed masses politically indebted to them by buying their uninformed votes, so that they will be perpetually in power. Notice it's always the same dynastic names in politics, you just want to throw up. :puke::puke:

wolfram74

December 3rd, 2011, 02:39 AM

Askal82

December 3rd, 2011, 02:49 AM

I think anyone who files a case against BIR to oppose these circulars will win. As the latin maxim says "UBI LEX NON DISTINGUIT NEC NOS DISTINGUERE DEBEMOS," where the law does not distinguish, one should not distinguish. BIR cannot just issue circulars taxing voluntary contributions if it is contrary to what the law states. The act of BIR Commissioner is ultra vires and outside the scope of her authority. An administrative regulation must be in harmony with, and cannot have the effect of amending or supplanting, the law that it is supposed to enforce (Melendres v. COMELEC). Thus, these circulars must be struck down as void.

But of course, we should also scrutinize how "investment" is defined and determine if this covers voluntary contributions. However, the laws on these contributions are the laws that must be applied since these are the laws that were enacted whose objects/subject matters are specifically these contributions, not the laws on investments. Where two laws are in conflict with each other with respect to a certain subject matter, the more specific law must rule over the more general one. In this case, the laws that specifically cover these contributions are the more specific ones. Ergo, these should be applied.

As I see it, by principle, contributions are really investments - it is income set aside for the purpose of accumulating more income so the beneficiaries does not get the outright benefit until at a later time specified by the law or they have fully complied the vesting rules that makes them eligible to receive these benefits. Until the benefits are received, there is really no reason to tax these voluntary contributions at all. If the distributions are made to them before the time period specified by law to be no longer taxable, or other exceptions specified by the law then it should be taxable.

Eastern Dragon

December 3rd, 2011, 03:10 AM

Partly right but obviously, there was an effort by our government NOT to admit their failure as follows:

Facts:
Government's target for 2011: 9% to 10% increase over 2010.
Actual: January to September 2011: 3% down vs. last year, value US$37.185B.

It cannot be denied that our markets in Europe and US declined due to their debt problems. Consequently, our top export - electronics was hit significantly.

We knew about the Euro/US crises and yet our government officials seem to be in "sleep mode". They should have explored alternative markets and/or products to mitigate the problem.

Our government officials are intentionally withholding the information that our ASEAN neighbors' export performance is a reversal to what happened here:

Indonesia, Jan. to Sept. 2011 increased. Thailand, Jan. to Sept. 2011, also grew despite the floods. Malaysia's export grew, too.

PH Performance - Exports
2004-2010
http://www.philexport.ph/barterfli-philexport-portlet/images/phil_economy_pic2.gif

Target up to 2016
http://www.philexport.ph/barterfli-philexport-portlet/images/phil_economy_pic3.gif
Japan, China and US are our top 3 export markets based on 2011 figures.

Source: http://www.philexport.ph/web/philexp/philippines-economy

i wouldn't argue much on these. there could have been better alternatives explored to mitigate it.

Eastern Dragon

December 3rd, 2011, 03:16 AM

Even if the law says otherwise ... morally that is not right. Contributions and savings are some of the ways for common folks to save money tapos bubuwisan mo pa, HINDI NA TAMA :ohno:

Tumaas na nga pamasahe natin dahil sa EVAT :ohno:

eh kung buwisan na lang nila bawat nanganganak... baka mapabagal pa natin ang ating pagdami :lol:

i have not read the circular although i would understand the reason for its implementation from an investment point of view.

contributions over and above the required contribution would in some ways jeopardize the financial side of the sss/pag ibig contributions.

taking away the social legislation aspect of it and becoming some sort of investment.

for example, someone who contributes 1000 pesos instead of 100 pesos sa pag ibig but whose income should have deduction of only 150 max.

KnightOfTheFlag

December 3rd, 2011, 03:53 AM

Bloomberg Headlines:

Noon (GMA Admin):

Philippine GDP Grows at Fastest Pace in 31 Years (Update2) (http://www.bloomberg.com/apps/news?pid=newsarchive&refer=economy&sid=af58..jD19Hs)
Philippine GDP Grows at Fastest Pace in Two Decades (Update3) (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aqQ9x9rjRcxo&refer=economy)
Philippine Growth Accelerates, Beating All Estimates (Update4) (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ah1nmKTo65js&refer=news) :banana::banana:
Philippine Peso Gains as Economic Growth Quickens; Bonds Fall (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a_gf6PVujV9M&refer=currency)
Philippine Inflation Probably Held Near 32-Month Low (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aQyeUMgNPI3I&refer=home)

Ngayon (AB.Noy admin):

Philippines Scales Down Plan to Offer Infrastructure Projects to Investors (http://mobile.bloomberg.com/news/2011-10-04/philippines-may-offer-two-projects-this-quarter-canilao-says)
Philippine Economic Growth Misses Estimates (http://www.bloomberg.com/news/2011-11-28/philippine-economic-growth-misses-estimates.html) :bash:

:puke: Noy is the Best President ever!!

There is a saying...." we dont know the value of what we have until its gone"..."we tend to disregard and abuse the beautiful things we have thinking it can stay there forever"...

...nasa huli lahat ang pagsisisi at paluluksa...at least to the people who love the country more than any "political or showbiz" personalities who only brings MOMENTS AND SHALLOW HAPPINESS...

Well...meron pa namang "mga masasayang kababayan natin" whos alligiance is pledge on A PERSON OR GROUP...not the country and people...

LuckyLady

December 3rd, 2011, 06:11 AM

Hi. I am working for a Congressman. On Monday, I will be showing him our discussions on the forum regarding this issue. Hopefully, he listens. If not, I will be sending a letter to the appropriate Congressional Committee in the Congress. I do hope, however, that if my first plan fails, some people would give me support in pushing this 2nd plan through. We need a stronger voice (i.e. more people supporting this cause) to have stronger convincing force. I'm also planning to create an SSC-based NGO which will make efforts on making our voices heard to the appropriate government officials on certain issues and problems. However, a certain moderater closed it down without offering any explanation (I still don't get why he wants to make other people's lives harder :ohno:). Anyhow, that's it.

i do hope you succeed in your noble endeavor. this is exactly what our country needs. More voice and more people who would push the gov't to do well. we need less a**kissers in the country...People need to know their rights and should know how to fight for it for us to achieve a better gov't. The media should be neutral and should be on the side of the people not for any political parties or any persons.

as to your thread being closed i think there's some rules here like you can only create a thread if you reach a certain number of posts, or so. just read the rules here. maybe it's the system automatically closing the thread but am not so sure of this also. someone here maybe can help you or maybe you can pm (private message) some mods here.:cheers:

swing_vote

December 3rd, 2011, 06:24 AM

i do hope you succeed in your noble endeavor. this is exactly what our country needs. More voice and more people who would push the gov't to do well. we need less a**kissers in the country...People need to know their rights and should know how to fight for it for us to achieve a better gov't. The media should be neutral and should be on the side of the people not for any political parties or any persons.

as to your thread being closed i think there's some rules here like you can only create a thread if you reach a certain number of posts, or so. just read the rules here. maybe it's the system automatically closing the thread but am not so sure of this also. someone here maybe can help you or maybe you can pm (private message) some mods here.:cheers:

it's already transferred to Samahan section. However, the posts in the original thread in which some important points have been discussed are still gone. :(

LuckyLady

December 3rd, 2011, 06:27 AM

fixed the loopholes in the current tax collection system first. Then if everything else was already tried and still fail then imo that's the time the gov't pass these new measures. The gov't failure of efficently collecting taxes shouldn't be used as an alibi to pass these new measures. Don't let the ordinary folks be the scapegoat of your own failures please. This is giving a very bad taste imo, the gov't seems to be is being used by these tax evaders to put the burden to helpless masa. Dahil ba hindi nila kaya banggain mga mayayaman na mga tax evaders?

LuckyLady

December 3rd, 2011, 06:29 AM

it's already transferred to Samahan section. However, the posts in the original thread in which some important points have been discussed are still gone. :(

i think you can pm mods about this. threads closed are not automatically deleted i think so you might be able to retrieve the important points there. :cheers:

LuckyLady

December 3rd, 2011, 06:32 AM

Askal82

December 3rd, 2011, 06:36 AM

i have not read the circular although i would understand the reason for its implementation from an investment point of view.

contributions over and above the required contribution would in some ways jeopardize the financial side of the sss/pag ibig contributions.

taking away the social legislation aspect of it and becoming some sort of investment.

for example, someone who contributes 1000 pesos instead of 100 pesos sa pag ibig but whose income should have deduction of only 150 max.

Is the SSS,GSIS, Pag-Ibig or Philhealth a funded or non-funded contributions?

Because if they are funded by interests and dividends to pay for the benefits, then it should really be considered investments instead of just mere income deferrals.

If they are non-funded, it means that they are not reinvested to earn income and the contributions collected goes straight to the beneficiaries needing them (similar to how social security works in the US)

Either way, voluntary contributions shouldn't be taxable because they are not really income with respect to outright benefit of the person receiving them.

LuckyLady

December 3rd, 2011, 06:39 AM

i'm not saying that taxation is illegal. what i'm saying is that the BIR circulars stating that voluntary contributions are taxable are contrary to law because the law states "ALL contributions are exempt from taxation." the law didn't distinguish between voluntary and mandatory contributions so why should the BIR commissioner distinguish? Between the laws/statutes passed by the Congress and the BIR circulars, the former are binding on the populace and should rule over the BIR circulars because what gave the BIR the power to collect taxes is the Legislature. Collection of taxes is indeed a power of the BIR but it must not transgress any existing law...

De lima first then Henares this time. sino na naman kaya ang sunod gustong pag laruan ang batas natin? :ohno: it's their power but if that power is used to cover up their failures in doing their function in collecting taxes efficiently then i don't think they can use that power. Is there any laws that could limit/control them to abuse their powers?

s40

December 3rd, 2011, 06:49 AM

De lima first then Henares this time. sino na naman kaya ang sunod gustong pag laruan ang batas natin? :ohno: it's their power but if that power is used to cover up their failures in doing their function in collecting taxes efficiently then i don't think they can use that power. Is there any laws that could limit/control them to abuse their powers?

if congress needs to appoint the BIR commissionaire can they not remove them to if there is clear illegal conduct? what is legal remedy against defective executive officials? impeach?

Askal82

December 3rd, 2011, 06:55 AM

De lima first then Henares this time. sino na naman kaya ang sunod gustong pag laruan ang batas natin? :ohno: it's their power but if that power is used to cover up their failures in doing their function in collecting taxes efficiently then i don't think they can use that power. Is there any laws that could limit/control them to abuse their powers?

De Lima didn't violate any law - the SC justices did. They twisted it to the extent that it defies common sense and sound judgement. ;) :lol:

FlashCollider

December 3rd, 2011, 07:16 AM

Smoke and mirrors (http://www.manilastandardtoday.com/sectionOpinion.htm?f=2011/december/2/editorial.isx&d=2011/december/2)

It also meant the public would be less likely to pay attention to the rabbit inside Mr. Aquino's hat—an economy that has been heading south since he became President.

The date is available for all to see, courtesy of the National Statistical Coordination Board, which tracks the country's gross domestic product.

The first full quarter of Mr. Aquino's administration, the third quarter of 2010, showed GDP growing by 7.3 percent, down from 8.9 percent in the second quarter and 8.3 percent in the first. This fell further to 7.1 percent in the fourth quarter last year.

The decline continued this year, to 4.9 percent in the first quarter, 3.4 percent in the second, and 3.2 percent in the third, all under Mr. Aquino's watch.

Analysts—including those from the statistical bureau—agree that weak public spending under his administration contributed to the slowdown, yet Mr. Aquino used misdirection once again and blamed the poor performance on external factors—the tsunami in Japan, instability in the Middle East, a slowdown in the US economy and the debt crisis in Europe.

What he did not say is that our neighbors—including Indonesia, Vietnam, Singapore, Malaysia and Thailand—which operated under the same challenging conditions, managed to post much higher growth than the Philippines.

Wake up the sleeping boy (http://www.manilastandardtoday.com/insideOpinion.htm?f=2011/december/2/jojorobles.isx&d=2011/december/2)

I truly believe President Noynoy Aquino and his officials when they say that they would never plot to kill Gloria Macapagal Arroyo. If Arroyo goes, after all, this administration will lose its reason for being and may even be forced to address other concerns, like—heaven forbid—the tanking economy.
It’s amazing how many government officials reacted to the disclosure of an alleged plot to kill Arroyo that supposedly goes by the unwieldy name “Oplan Put The Little Girl to Sleep.” Even Budget Secretary Florencio Abad, who was supposed to have joked about killing Arroyo on the tarmac of the airport, Ninoy-style, weighed in, urging the former President’s spokesman to “seek psychiatric help.”

Aquino himself got distracted enough from his usual routine to personally deny the existence of such a plot. “What possible motive could we have for doing something like that?” a testy Aquino asked – rhetorically, of course.

Then, reminiscent of his decision never to talk about his jones for pricey cars ever again, Aquino announced that he will no longer entertain any questions about the matter of the alleged plot: “If anybody will ask again about something like that... I’m sorry. It’s really waste of all our time to really tackle a non-issue.”

But in the process of denying what he called a “work of fiction,” the exasperated President could not help but reveal his real reason for wanting Arroyo alive: he wanted her convicted and thrown in jail. “Remember, our promise is conviction. We cannot convict someone who is already gone,” Aquino said.

swing_vote

December 3rd, 2011, 07:20 AM

if congress needs to appoint the BIR commissionaire can they not remove them to if there is clear illegal conduct? what is legal remedy against defective executive officials? impeach?

The Congress has no power to appoint the BIR Commissioner. They only provide for its powers. A BIR Commissioner cannot be removed via impeachment. Only those enumerated in Article XI Section 2 of the Constitution can... But cases can be filed under Revised Penal Code, RA 3019 and other laws for other erring officials. As to what kind of criminal case can be filed, I just don't know. But with regard to the BIR Circular, an administrative case can be filed to strike it down as void. The result would be reimbursement of taxes paid.

s40

December 3rd, 2011, 07:20 AM

^^ good one manila standard............

s40

December 3rd, 2011, 07:23 AM

The Congress has no power to appoint the BIR Commissioner. They only provide for its powers. A BIR Commissioner cannot be removed via impeachment. Only those enumerated in Article XI Section 2 of the Constitution can... But cases can be filed under Revised Penal Code, RA 3019 and other laws for other erring officials. As to what kind of criminal case can be filed, I just don't know. But with regard to the BIR Circular, an administrative case can be filed to strike it down as void. The result would be reimbursement of taxes paid.

maybe impeach the Finance Secretary then :)

swing_vote

December 3rd, 2011, 07:29 AM

maybe impeach the Finance Secretary then :)

still, no. the following may be removed via impeachment: The President, the Vice-President, the Members of the Supreme Court, the Members of the Constitutional Commissions, and the Ombudsman. All other public officers and employees may be removed from office as provided by law, but not by impeachment (Art. XI, Sec. 2, 1987 Constitution).

s40

December 3rd, 2011, 07:32 AM

still, no. the following may be removed via impeachment: The President, the Vice-President, the Members of the Supreme Court, the Members of the Constitutional Commissions, and the Ombudsman. All other public officers and employees may be removed from office as provided by law, but not by impeachment (Art. XI, Sec. 2, 1987 Constitution).

damn....... we better find some illegal activity by Purisima and Jenares then hehehe

skyion

December 3rd, 2011, 09:17 AM

flashback post

OLIGARCHIC CRIMES GO UNPUNISHED: LOPEZES OF MANILA (http://unladtau.wordpress.com/2008/05/13/oligarchic-crimes-go-unpunished-lopezes-of-manila/)
Erle Frayne Argonza

Moral philosophies including the new-hype Corporate Social Responsibility or CSR are only mere ideological trappings in the oligarchic games. Take off these trappings and you have the real score: demonic greed, manipulative control of humans, conceit, and every corporate Machiavellianism one can think of. Those genuine Light-centered, Spirit-filled CSR philantrophists are still undergoing construction or breeding.

Take the case of Manila’s Lopez family that owns the MERALCO, the gigantic utility firm that is into both power generation and distribution. As found out by fact-finding investigations, the MERALCO has been looting the consumers by passing on to them the costs of both power generation and distribution, through price increases in monthly bills.
(Now Asia's most expensive, SLAMAT oligarchLORRRD)

The Supreme Court later took such facts as basis for arriving at a decision that ordered the MERALCO to return to the consumers the unjust price increases imposed on the bills. Public interest groups took the cudgels for the consumers, thanks to a dynamic civil society here that includes lawyers’ and consumers’ groups.

True, MERALCO obliged, and gradually returned the funds stolen from the people’s pockets. But the question is, was there any member of the Lopez family or the MERALCO executives who was ever jailed at all for the crime? None!

betoy

December 3rd, 2011, 11:04 AM

http://a2.sphotos.ak.fbcdn.net/hphotos-ak-snc7/377150_271670106217947_100001248802324_858825_1319768609_n.jpg

:bash::bash::bash::bash::bash:

Ady001

December 3rd, 2011, 01:18 PM

^^ Mukha pa lang kahina-hinala na...

amigo32

December 3rd, 2011, 01:38 PM

:rofl:

balimbing kasi:lol: ayan napala mo:lol:

wheel of steel

December 3rd, 2011, 02:18 PM

flashback post

OLIGARCHIC CRIMES GO UNPUNISHED: LOPEZES OF MANILA (http://unladtau.wordpress.com/2008/05/13/oligarchic-crimes-go-unpunished-lopezes-of-manila/)
Erle Frayne Argonza

.

(Now Asia's most expensive, SLAMAT oligarchLORRRD)

Nako, thank you for reposting.. Nakalimutan ko ang ang mga walanghiya..

Eastern Dragon

December 3rd, 2011, 02:43 PM

Is the SSS,GSIS, Pag-Ibig or Philhealth a funded or non-funded contributions?

Because if they are funded by interests and dividends to pay for the benefits, then it should really be considered investments instead of just mere income deferrals.

If they are non-funded, it means that they are not reinvested to earn income and the contributions collected goes straight to the beneficiaries needing them (similar to how social security works in the US)

Either way, voluntary contributions shouldn't be taxable because they are not really income with respect to outright benefit of the person receiving them.

they are funded in the sense that the employer contributes an equal amount with that of the employee.

hence the employee contribution has two components, 1 mandatory employee and employer contribution.

sss contributions, i am 100% sure reinvested, into stocks, etc.

hence, the reason why they are taxed.

manila_eye

December 3rd, 2011, 04:07 PM

^^if that's the case, how come mutual funds are non-taxable?

Parchie

December 3rd, 2011, 04:22 PM

^^if that's the case, how come mutual funds are non-taxable?

Never asked about that! Good point, there.

boypad

December 3rd, 2011, 08:19 PM

Banks OK job outsourcing :ohno:

Manila Standard Today
by Roderick T. dela Cruz

Era of legitimate subcontracting jobs arrives in bank, says Labor Secretary Rosalinda Dimapilis-Baldoz

The highly profitable banking sector became the first industry in the Philippines to acknowledge and legitimize labor outsourcing, a significant development in the labor front that will affect thousands of jobs.

The Bangko Sentral and the Labor Department approved a resolution by the newly formed Banking Industry Tripartite Council adopting the banking industry voluntary code of good practice on dispute settlement and outsourcing/subcontracting of certain banking functions.

Labor Secretary Rosalinda Dimapilis-Baldoz, who together with Bangko Sentral Governor Amando Tetangco Jr. witnessed the signing of the document, said an era of legitimate outsourcing/subcontracting had arrived in the banking sector.

“This is the first voluntary code of practice that deals with outsourcing,” she said, while defending outsourcing as a legitimate labor practice.

“Legitimate outsourcing/subcontracting is recognized in our law,” she said, citing the recent court’s decision in favor of outsourcing of some jobs at the Philippine Airlines.

http://www.manilastandardtoday.com/insideBusiness.htm?f=2011/december/3/business1.isx&d=2011/december/3

hugodiekonig

December 3rd, 2011, 08:32 PM

just an OT guys. sorry to interrupt your discussions in the thread. I just think this is urgent

to all PH forumers, I humbly ask your support to vote for 5 stars at these banners and to other Philippine banners for this year 2011

Metro Manila Skyline
http://xl.skyscrapercity.com/images/headers/2011/11/21.jpg
http://xl.skyscrapercity.com/?page=banner&bannerday=20111121

Makati Syline
http://xl.skyscrapercity.com/images/headers/2011/11/17.jpg
link: http://xl.skyscrapercity.com/?page=banner&bannerday=20111117#discuss

Cebu skyline
http://xl.skyscrapercity.com/images/headers/2011/11/08.jpg
link: http://xl.skyscrapercity.com/?page=banner&bannerday=20111108

let us join our hands to elevate our banners' ranking at the Top 100 banners for 2011. Mabuhay ang Pilipinas!

hugodiekonig

December 3rd, 2011, 08:39 PM

flashback post

OLIGARCHIC CRIMES GO UNPUNISHED: LOPEZES OF MANILA (http://unladtau.wordpress.com/2008/05/13/oligarchic-crimes-go-unpunished-lopezes-of-manila/)
Erle Frayne Argonza

.

(Now Asia's most expensive, SLAMAT oligarchLORRRD)

when I was living in Manila i saw an electric bill amounting to 327 pesos, but the owner of the bill said to me that the bill was for the house she left for more than a month, so no electricity must have been consumed,all appliances are unplugged, but still she has to pay that 327 pesos though she consumed nothing. amazing!!! :nuts:

there could be minimal payment for electricity bills(generation charge, service charge, PPA, whatsoever) but I think 327 pesos for consumpting no electricity is questionable

todjikid

December 3rd, 2011, 09:45 PM

Penoy is only after GMA, the Lopezes are his friends.

amigo32

December 3rd, 2011, 11:55 PM

when I was living in Manila i saw an electric bill amounting to 327 pesos, but the owner of the bill said to me that the bill was for the house she left for more than a month, so no electricity must have been consumed,all appliances are unplugged, but still she has to pay that 327 pesos though she consumed nothing. amazing!!! :nuts:

there could be minimal payment for electricity bills(generation charge, service charge, PPA, whatsoever) but I think 327 pesos for consumpting no electricity is questionable

nge, dapat piso-piso lang.
:ohno:

mwg12a

December 4th, 2011, 12:10 AM

flashback post

OLIGARCHIC CRIMES GO UNPUNISHED: LOPEZES OF MANILA (http://unladtau.wordpress.com/2008/05/13/oligarchic-crimes-go-unpunished-lopezes-of-manila/)
Erle Frayne Argonza

.

(Now Asia's most expensive, SLAMAT oligarchLORRRD)

On the Lopezes, I would not argue with you on these, i've mentioned them before in the archived thread because they are guilty of monopolizing the power industry in the Philippines. They can't be accused of corruption in the goverment but they are definitely a contributor for it.

Eastern Dragon

December 4th, 2011, 12:59 AM

On the Lopezes, I would not argue with you on these, i've mentioned them before in the archived thread because they are guilty of monopolizing the power industry in the Philippines. They can't be accused of corruption in the goverment but they are definitely a contributor for it.

:lol::lol::lol: kakakatawa din ibang tao dito.

if i remember it right, the lopezes only own about 14% of meralco. mvp and san miguel owns the biggest shares there.

Eastern Dragon

December 4th, 2011, 01:09 AM

^^if that's the case, how come mutual funds are non-taxable?

they are totally different animals altogether. no point in comparing the 2.

mutual funds are private investments and was granted tax free status to stimulate long term savings and investment because mutual funds are really investments in nature with the fund manager investing in various options. because in theory there is no limit to what you can put in a mutual fund.

social legislation related contributions like pag ibig and sss even gsis are totally different because they are imbued with public interest, if you notice the ones heading it are presidential appointees. investments must only be in low risk and hence low reward also to fund the pension and health related requirements of members.

not to mention loans.

skyion

December 4th, 2011, 01:23 AM

On the Lopezes, I would not argue with you on these, i've mentioned them before in the archived thread because they are guilty of monopolizing the power industry in the Philippines. They can't be accused of corruption in the goverment but they are definitely a contributor for it.

oh really, by the way Marcos also discovered that the real mastermind behind the assassination attempt against him by the Oligarchs was his Vice President the Oligarch Fernando Lopez as these same Oligarchs attempted to monopolize the economy during his time at the expense of the people, which forced Marcos to issue Martial Law :bash:

wolfram74

December 4th, 2011, 01:45 AM

http://newsinfo.inquirer.net/104125/why-the-third-quarter-economic-slowdown

What about the fourth quarter? What is the prospect? One member of the economic team said the increase in consumer expenditures because of the coming Christmas would help push growth in the last quarter. This is not going to be because we also had Christmas last year. :lol::doh::naughty: What about P-Noy’s promised of spending more than P70 billion in stimulus funds? Well, the money may have been released already to the implementing government agencies, but if I know how government works, that does not mean that all of that will have been spent by the end of the year.

-----

haynaku po.....nasaan na yung mga nagsasabing tataas daw ang Q4 2011 GDP growth rate dahil sa Christmas spending, remittances, etc. Di ba nila alam na yung GDP growth comparison ay year-on-year, ibig sabihin Q4 2011 vs. Q4 2010? :bash: wala bang Pasko nung 2010? geniuses!

mauuna na ako sa prediction for Q4 2011: GDP growth rate = 3.2%
consider the base effect - ang taas ng GDP growth rate last Q4 2010 (7.1%)

traditionally, q4 provides a strong gdp finish associated with increased economic activity on the consumption side. this is due to the christmas season. in that regard, the q4 gdp growth should easily breach the 4% mark.

:fiddle: <--- Noynoy: fiddling while Rome burns

boypad

December 4th, 2011, 04:30 AM

^^ My forecast for Q4' GDP is around 2.9% :D

todjikid

December 4th, 2011, 04:58 AM

:lol::lol::lol: kakakatawa din ibang tao dito.

if i remember it right, the lopezes only own about 14% of meralco. mvp and san miguel owns the biggest shares there.

katawa-tawa din na short term ang memory ng ibang tao (o selective amnesia) - Lopezes recently divested their shares to Manny Pangilinan and San Miguel.

froghat

December 4th, 2011, 05:32 AM

:lol::lol::lol: kakakatawa din ibang tao dito.

if i remember it right, the lopezes only own about 14% of meralco. mvp and san miguel owns the biggest shares there.

:lol::lol::lol: kakakatawa din ibang tao dito.

The power industry does not only consist of Meralco. Lopezes parin may ari ng karamihan ng power generators, through the First Philippine Holdings Corp.

Eastern Dragon

December 4th, 2011, 07:35 AM

katawa-tawa din na short term ang memory ng ibang tao (o selective amnesia) - Lopezes recently divested their shares to Manny Pangilinan and San Miguel.

:lol::lol::lol::lol::lol::lol::lol::lol:

what the heck? dude, read up before you open your mouth.

http://business.inquirer.net/money/topstories/view/20090314-194065/Lopezes-to-sell-20-of-Meralco-to-PLDT

the lopezes sold their shared 2 1/2 years ago.

if you think 2.5 years ago is recent, i really don't know. :lol::lol:

manila_eye

December 4th, 2011, 07:45 AM

they are totally different animals altogether. no point in comparing the 2.

mutual funds are private investments and was granted tax free status to stimulate long term savings and investment because mutual funds are really investments in nature with the fund manager investing in various options. because in theory there is no limit to what you can put in a mutual fund.

social legislation related contributions like pag ibig and sss even gsis are totally different because they are imbued with public interest, if you notice the ones heading it are presidential appointees. investments must only be in low risk and hence low reward also to fund the pension and health related requirements of members.

not to mention loans.

But you said that SSS and PAG-IBIG are reinvested in stocks hence it's okay to put taxes on them. Likewise, mutual funds are also invested in stocks (part of it).

Don't you think it's unfair to put taxes on government run social contributions yet the private ones have none?

Eastern Dragon

December 4th, 2011, 07:47 AM

:lol::lol::lol: kakakatawa din ibang tao dito.

The power industry does not only consist of Meralco. Lopezes parin may ari ng karamihan ng power generators, through the First Philippine Holdings Corp.

:lol::lol::lol:

talaga? are you sure or just bluffing your way? my brother works for a lopez related power firm.

they are in now way '' may ari ng karamihan ng power generators". do not confuse distribution versus generation. the reason why they are biggest is because of geothermal plants which contributes a large chunk of their power.

distribution side, meralco is the biggest in luzon, but nationwide, not necessarily. aboitiz owns veco and davao light. plus a slew of other distribution firms nationwide.

on the generation side, first philippine, aboitiz power and smc power are the biggest power generators being the top 3.
as to number of power generators, i think aboitiz controls the most number. but lopez controls the geothermal, which are very few but large capacity.

check out aboitiz power portfolio. from north luzon all the way to davao. :lol:

Eastern Dragon

December 4th, 2011, 08:02 AM

But you said that SSS and PAG-IBIG are reinvested in stocks hence it's okay to put taxes on them. Likewise, mutual funds are also invested in stocks (part of it).

Don't you think it's unfair to put taxes on government run social contributions yet the private ones have none?

don't put words in my mouth. you are clearly reading it wrong, i posted earlier that i do not like taxes imposed because i suffer myself but i said i understand it from an investment point of view.

if you understand taxation, there are really two aspects to it. income generation and deterrence, (i.e. sin taxes)

government policy is to encourage business transactions and hence, there will be growth as money goes around. there are income downstream as jobs as jobs are created.

besides, mutual fund was a nascent business form for the country about 10 years ago and that is very understandable.

income tax holiday to encourage investments. just like corporations are given tax free holidays for 5 years to encourage investments.

monsy

December 4th, 2011, 09:25 AM

oh really, by the way Marcos also discovered that the real mastermind behind the assassination attempt against him by the Oligarchs was his Vice President the Oligarch Fernando Lopez as these same Oligarchs attempted to monopolize the economy during his time at the expense of the people, which forced Marcos to issue Martial Law :bash:

Early campaigning, hinding hindi kami boboto kay Marcos. Sana kumandidato uli si Teodoro, Fernando, Gordon at iba pa. Pag nanalo si Marcos dismiss lahat ng kaso ni Emelda, baka ibalik pa yung nabawi ng gobyerno sa pamilya nila.

Tandaan natin na nakilala si Cory Aquino dahil sa greedy na si Marcos. Kung hindi sana naging gahaman sa kapangyarihan si Marcos sana walang CORY at kung walang Cory walang Pnoy.

wolfram74

December 4th, 2011, 09:36 AM

Give credit to what is due: :cheers:

PH corruption index ranking improves
By Cathy Rose A. Garcia, abs-cbnNEWS.com
Posted at 12/01/2011 10:53 AM | Updated as of 12/01/2011 12:46 PM

MANILA, Philippines - The Philippines' ranking among the world's most corrupt countries improved slightly, based on the 2011 Corruption Perception Index (CPI) released by Transparency International on Thursday.

The Philippines came in at 129 with a 2.6 CPI in Transparency International's list that ranks 178 countries and territories based on how corrupt their public sector is perceived to be.

This is better than the Philippines' 134th ranking in 2010 with a 2.4 CPI. The CPI score indicates the perceived level of public sector corruption on a scale of 0 - 10, where 0 means that a country is perceived as highly corrupt and 10 means that a country is perceived as very clean.

http://www.abs-cbnnews.com/business/12/01/11/ph-ranking-improves-corruption-index

:lol::lol::lol::lol::lol: i can't believe ang dami pa ring nagpapadala sa CPI ng Transparency International. hindi lang kasi aware sa details kung paano kina-calculate ang "score" ng mga countries. :lol:

pinagmamalaki ang 0.2 improvement sa score. OMG.

Transparency International’s Corruption Perceptions Index:
Whose Perceptions Are They Anyway?
Theresa Thompson and Anwar Shah, World Bank Institute
http://siteresources.worldbank.org/PSGLP/Resources/ShahThompsonTransparencyinternationalCPI.pdf

"Transparency International’s Corruption Perceptions Index (CPI) has large standard errors that lead one to question the precision of the scores. Some examples from the 2004 CPI are informative. Belarus received a score of 3.3 with a 90% confidence interval of 1.9 to 4.8. http://www.pinoyexchange.com/forums/images/smilies/eek.gifhttp://www.pinoyexchange.com/forums/images/smilies/eek.gif Therefore, Belarus could be as clean as Italy (score=4.8) or as corrupt as Angola, DR Congo, Indonesia, and Turkmenistan (scores=2.0). Malta, with a CPI of 6.8 and confidence interval of 5.3 – 8.2 may be as clean as Germany (score=8.2), cleaner than the United States (score=7.5) and Japan (score=6.9) or as corrupt as Jordan (score=5.3). From a first glance, it appears that one should exercise caution when using the CPI scores as accurately measuring the level of corruption in a particular country."

ang laki ng error ha...+/- 1.4, tapos pinagmamalaki ang 0.2 improvement sa score. Good job Pnoy na kaagad?? :lol:

-------

more problems with the CPI:

"The number of sources used in the index tends to change from year to year, as well as the number of countries scored (see table 1 below). Some sources such as Business International and Wall Street Journal Central European Economic Review (CEER) are used in only one year’s CPI, while other sources such as the World Competitiveness Report and the Asian Intelligence Issues are included in all years from 1995 until 2003. Appendix tables 1 – 3 in the appendix lists all the sources used in each year’s CPI. From 1995 to 1997, in order for a country to be rated by Transparency International, there had to be at least four sources of information about corruption in that country. Starting in 1998, the minimum number of required surveys was lowered to three.

"Therefore it is unclear what exactly the CPI is measuring, when sources which measure such different aspects of corruption are averaged together. It is a bit like adding, or in the CPI’s case averaging, apples and oranges. To give a rough example, suppose that in city A there were 5 murders and 95 incidents of shopplifting, whereas in city B, there were 95 murders and 5 incidents of shopplifting. The size of the population is the same in both cities. Then, the total crime rate is the same in the two cities. But no one would venture to say that they are equally safe cities to live in. This is an exaggerated example of what happens in the CPI, where grand embezzlement and petty corruption are treated as the same entity.

"There are several technical problems that called into question the validity of the CPI, including large standard errors, overly complex standardization procedures, measurement error and biased perceptions of corruption.

"Transparency International itself admits that there are problems with year-to-year comparisons of values of the Corruption Perceptions Index, and that changes in the sample and methodology may be the cause of changes in a country’s score.

"Since the sources used in the CPI changes almost yearly, changes in the value of the CPI may result not from a change in the level of corruption, but from changes due to the fact that each source uses a different methodology. Some sources are not updated, and therefore were dropped after a couple of years.

"Transparency International includes data that is up to two years old in the CPI." :lol:

-----

Give credit to what is due: :cheers:

pwedeng mag-share ng credit kay GMA? kasi yung ibang ginagamit na data ay "two years old" pala. OMG. :lol::lol::lol:

todjikid

December 4th, 2011, 12:46 PM

if you think 2.5 years ago is recent, i really don't know. :lol::lol:

and so ladies and gents --- short term memory nga.

Eastern Dragon

December 4th, 2011, 03:26 PM

and so ladies and gents --- short term memory nga.

:lol::lol::lol:

palusot ka pa. if you want to be strict about it, ano nga ba ibig sabihin ng recent?

2.5 years is a long long time. :lol::lol::lol:

todjikid

December 4th, 2011, 06:58 PM

:lol::lol::lol:

palusot ka pa. if you want to be strict about it, ano nga ba ibig sabihin ng recent?

2.5 years is a long long time. :lol::lol::lol:

ok define mo rin muna ang "long time" and "long long time." Dog years ba? o Mosquito years ? o fruit fly years?
May nadiscover na naman ba si Penoy na conversion system ng "recent" equals less than 2.5 years?
Please hindi ka uubra.

Askal82

December 4th, 2011, 06:59 PM

they are funded in the sense that the employer contributes an equal amount with that of the employee.

hence the employee contribution has two components, 1 mandatory employee and employer contribution.

sss contributions, i am 100% sure reinvested, into stocks, etc.

hence, the reason why they are taxed.

Oh ic, so they should be considered investments.

IMO, the only moment these items should be taxable are when the beneficiaries actually receive these benefits then unless considered exempt by the laws.

So if I avail a PAG-IBIG loan for an interest rate much lower than what the banks usually provide, the difference for the interest expense saved should be taxable.

FlashCollider

December 4th, 2011, 07:53 PM

MPIC keen on PPP (http://www.philstar.com/Article.aspx?articleId=755065&publicationSubCategoryId=66)

By Mary Ann Ll. Reyes (The Philippine Star) Updated December 05, 2011 12:00 AM Comments (0)

MANILA, Philippines - Metro Pacific Investments Corp. (MPIC) is still keen on pursuing infrastructure projects via the Public-Private Partnership (PPP) program of government despite delays in the commencement of the program.

MPIC chairman Manuel V. Pangilinan said that aside from the operation and maintenance of the Metro Rail Transit Line 3 (MRT 3) and Light Rail Transit Line 1 ( LRT 1), they remain interested in planned PPP projects such as the development of Clark airport, the operation of the NAIA terminals, various road projects, such as CALA and Daang Hari, among others.

MPIC and San Miguel Corp. (SMC) are among eight private companies that will bid for the right to construct the multi-billion-peso Daang Hari-South Luzon Expressway (SLEX) project under the government’s PPP program. The Daang Hari Road connects Las Piñas to neighboring Bacoor Muntinlupa City, and San Pedro in Laguna.

Meanwhile, the group is currently awaiting approval by the Office of the President of the supplemental toll operation agreement (STOA) for the Subic-Clark-Tarlac Expressway (SCTEX) which MPIC-subsidiary Manila North Tollways Corp. (MNTC) will be operating after being awarded the contract by owner Bases Conversion Development Authority (BCDA).

Lower power rates seen in 3-5 years (http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=755070)

By Philexport News and Features (The Philippine Star) Updated December 05, 2011 12:00 AM Comments (0)

MANILA, Philippines - Suffering household, commercial and industrial users of electricity can look forward three to five years from now before they will see power rates in Luzon going down.

This was the promise made by Energy director for planning Jesus Tambang during an open forum following his presentation in a national conference on climate change. In his presentation, Tambang made known that the Philippines is a world leader in the use of renewable and clean fuel in power generation.

He told his audience that the country as of today is 58 percent self-sufficient in using local fuel to generate electricity. And of all the fuel used, 46 percent are considered clean fuel including natural gas drawn from the Malampaya gas deposits in Palawan.

Tambang admitted that locally-sourced fuel has not translated to lower electricity rates precisely because under the old contracts the government signed with power plant developers, the rate of locally-sourced fuel including geothermal energy was pegged to the international prices of oil.

The Department of Energy (DOE) under its present leadership, he explained, is now delinking power rates of plants using indigenous fuel to the cost of oil as it encourages investors to build new baseload power plants.

The Luzon grid requires at least 1,000 megawatts of new generating capacity in the next three years to escape crippling power outages similar to those that happened from 1990 to 1992.

todjikid

December 4th, 2011, 10:41 PM

Groups urge Aquino: Act on poverty now

Warning that poverty, like guns, kills, representatives of the nation’s most destitute sectors have called on President Benigno Aquino III to mobilize government resources to help the poor.
“Our nation is in an explosive situation,” Archbishop Antonio Ledesma said, reading from a prepared statement issued at the close of a three-day “summit on poverty, inequality and social reform” last week.
“Poverty is mounting, streets all over the country are teeming with beggars and dislocated indigenous peoples,” he said.

---------

The conference called on Mr. Aquino to transform its P21-billion conditional cash transfer project (CCT) “into a truly empowerment program for the poor.”

http://newsinfo.inquirer.net/105313/groups-urge-aquino-act-on-poverty-now

s40

December 5th, 2011, 12:33 AM

todjikid

December 5th, 2011, 12:34 AM

im now thinking of just moving abroad. seriously thinking.

skyion

December 5th, 2011, 12:44 AM

Early campaigning, hinding hindi kami boboto kay Marcos. Sana kumandidato uli si Teodoro, Fernando, Gordon at iba pa. Pag nanalo si Marcos dismiss lahat ng kaso ni Emelda, baka ibalik pa yung nabawi ng gobyerno sa pamilya nila.

Tandaan natin na nakilala si Cory Aquino dahil sa greedy na si Marcos. Kung hindi sana naging gahaman sa kapangyarihan si Marcos sana walang CORY at kung walang Cory walang Pnoy.

what campaigning, it's just the Jaundice virus in your brain that's whispering Evil Yellow thoughts according to the gospel of Yellow puppet corporate media. SLAMAT oligarchLORRRD

todjikid

December 5th, 2011, 12:58 AM

PAGIBIG vs BIR...Supreme Court vs. Executive Branch...so much for leadership.
Government washing their dirty laundry infront of the public. Hindi naman daw kasi MICRO-Manager si Penoy.

Officialdmcileasing

December 5th, 2011, 01:46 AM

im now thinking of just moving abroad. seriously thinking.

e kung ganito rin lang buhay d2 sa Pinas e di mag abroad nlng tayo lahat.:banana: :lol: :lol:

Batang_genio

December 5th, 2011, 02:59 AM

im now thinking of just moving abroad. seriously thinking.

Yep, this country has gone to the yellow dogs. Mediocrity is the new normal in the Philippines. The smart ones have left. Just return in 2016 when the country will be on par with Nepal, Laos and Burkina Faso while our ASEAN neighbours will be verging on developed nationhood. There'll be no way but up for this submerging economy, but then this country has always shot itself at its foot.

PNoy is definitely in denial and he thinks that if you kept flattering yourselves with praise releases and yes-men sycopants, then you'd start believing in your own lies.

s40

December 5th, 2011, 03:15 AM

RonnieR

December 5th, 2011, 05:26 AM

Yep, this country has gone to the yellow dogs. Mediocrity is the new normal in the Philippines. The smart ones have left. Just return in 2016 when the country will be on par with Nepal, Laos and Burkina Faso while our ASEAN neighbours will be verging on developed nationhood. There'll be no way but up for this submerging economy, but then this country has always shot itself at its foot.

PNoy is definitely in denial and he thinks that if you kept flattering yourselves with praise releases and yes-men sycopants, then you'd start believing in your own lies.

Really? Don't be so gullible and self righteous and consider yourself a smart. Hallucination at its best. It is clear that you do not even know how a country can be classified as a developed nation in terms of GDP per capita. By 2016 or 5 years from now, except for Singapore, not one of ASEAN would become a high developed nation or near to it. The closest is Malaysia and their target is 2020.

If you would want to engage in intellectual discussion, you should act like one.

RonnieR

December 5th, 2011, 05:32 AM

3.2%. Go figure.

Do you know how GDP is computed? For discussion purposes, here it is:

GDP

C = Consumer Spending

I = Investment made by industry

E = Excess of Exports over Imports

G = Government Spending

If you read the government's report on 3.2% GDP for the 3rd quarter and the reasons for the dismal 3.2% GDP growth, then you would not have posted that comment on Investment. Consumer spending gave a big boost and Investments contributed, too. However, the decline was due to lower government spending and export growth. So, it's not satsat lang when you referred to investment figures released by the government.

RonnieR

December 5th, 2011, 05:38 AM

pwedeng mag-share ng credit kay GMA? kasi yung ibang ginagamit na data ay "two years old" pala. OMG. :lol::lol::lol:

Don't drag me with your intramural on GMA vs. PNoy. I really don't give a damn as long as there is an improvement. Whether your statements about the alleged errors are true or not, that's moot and academic. The report is given an importance in PH and in so many countries.

RonnieR

December 5th, 2011, 05:51 AM

im now thinking of just moving abroad. seriously thinking.

Nobody prevents you from leaving this country. It is your right.

However, let me reiterate that not all Filipinos who leave the country are SMART! (referring to the statement of batang____). Some leave due to poverty, overseas assignments, personal problems, career, etc.

Furthermore, many Filipinos become rich and affluent here in PH thru business...

RonnieR

December 5th, 2011, 05:52 AM

It's good progress. From nothing to this one. :cheers:

http://farm6.static.flickr.com/5064/5757414599_a4e6054559.jpg

Eton ramps up construction of new BPO buildings
By Zinnia B. Dela Peña (The Philippine Star) Updated December 05, 2011 12:00 AM Comments (0) View comments

MANILA, Philippines - Eton Properties Philippines Inc. is ramping up the construction of new office spaces catering to the business process outsourcing (BPO) industry to boost its portfolio to a total of nine office buildings by the first quarter of 2013.

Eton president Danilo Ignacio said the company aims to take advantage of the huge demand for office space particularly in the northern part of Metro Manila.

Ignacio said the company currently has five BPO buildings with a gross leasable area of 70,000 square meters. By June 2013, Eton’s office GLA will increase by an additional 100,000 sqm.

He said the company’s mixed-use Eton Centris complex will have a total of seven BPO buildings. Following the success of the first building, the 13-story One Cyberpod Centris, the company will start construction of BPO 3 and 4 in the last quarter of 2012. These two buildings are slated for construction in the first quarter of 2013.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=755085

Batang_genio

December 5th, 2011, 07:07 AM

Really? Don't be so gullible and self righteous and consider yourself a smart. Hallucination at its best. It is clear that you do not even know how a country can be classified as a developed nation in terms of GDP per capita. By 2016 or 5 years from now, except for Singapore, not one of ASEAN would become a high developed nation or near to it. The closest is Malaysia and their target is 2020.

If you would want to engage in intellectual discussion, you should act like one.

Are you personally attacking me? I won't stoop to your level. :cheers:

I don't know you and you don't know me. So let's be civil. OK?

Parchie

December 5th, 2011, 07:12 AM

Are you personally attacking me? I won't stoop to your level. :cheers:
Nice reply! I should have known how to reply like you. You're good, man!

RonnieR

December 5th, 2011, 07:28 AM

Are you personally attacking me? I won't stoop to your level. :cheers:

I don't know you and you don't know me. So let's be civil. OK?

Then, don't insult the Philippines. What an irony that you use the word genius when you don't know how a country can be classified as "high income or developed nation".

You're one of the classic case of shooting one's self, erroneously thinking with false pride that just because you are based abroad, you can put down this country. You're wrong! I'm not impressed.

KnightOfTheFlag

December 5th, 2011, 07:31 AM

Just want this to rub it further to the face of the Yellow Zombies...we shoudnt loose track of the economy...NEVER!...but to the yellowtards what is important to them is their idols popularity rating and is "saint like image" most be protected at all times.....while the economy goes down the drain, Pnoy is busy picking up a fight with the Supreme COurt ( not to mention spotting women to play around with ).....just like a genuine SPOILED BRAT!..he thinks everything he do, he wants and wishes should be done and fullfilled....

Ini-spoiled na nga nila Cory and the rest of the Aquino family pati ba naman taong bayan dapat i-spoiled din tong damulag na to??.....well I think the yellow cult has a "well defined objectives"...

3rd quarter growth at 3.2%
Number Don't Lie
By ANDREW JAMES MASIGAN
December 5, 2011, 4:07am

Falling further behind

I am deeply alarmed by the slow pace of economic development. Those who try to save face claim that the slowdown is a worldwide phenomenon brought about by the financial crisis in Europe. This theory is dispelled, however, by the stellar performance of our ASEAN neighbors. For the third quarter, Indonesia’s economy expanded by 6.5 percent, Vietnam by 6.1 percent, Singapore by 6.1 percent, Malaysia by 5.8 percent and Thailand, the country ravaged by month-long floods, grew by 3.5 percent. It is so unfortunate that the Philippines finds itself at the bottom of the heap again. After all, we are all operating under the same inhospitable environment.

Our ASEAN neighbors have circumvented the effects of the European financial crisis by registering healthy increases in private investments, industrial output (ex-Thailand) and a healthy dose of public investments in infrastructure. These factors were not present in the Philippine situation.

If we only stuck to the plan

Two state of the nation addresses ago, the public was told that Public Private Partnerships (PPP) was to be the cornerstone of this administration’s economic agenda. Through PPP, government would build big ticket infrastructure projects such as highways, train systems, airports, seaports, etc. using private sector funds. The spending spree would induce economic growth, generate millions of jobs and provide the Filipino people with the public facilities it badly needs.

The plan made sense and hit a chord among the economists and businessmen alike. I found it to be a stroke of genius…a win-win scheme for government, the business sector, and the public in general.

Unfortunately, more than 500 days after its launch and not a single PPP project has taken off. We were told that DOTC Sec. Mar Roxas had cancelled the deals previously worked on by his predecessor, Sec. Ping de Jesus, and started over again. The deals continue to languish in numerous rounds of reviews, revisions and re-writes. No one really knows if and when these deals will materialize given the many deadlines that have come and gone.

Without doubt, PPP is the right plan at the right time, and something must really be done to put PPP back on track. The delays are costing us too much in opportunity losses. Analysts agree that if PPP were in full swing today, the economy would be flying at between 6.5 to 7.5 percent growth.

We have money

Since President Aquino had assumed office, our gross international reserves have grown to unprecedented levels. As of the end of October, the nation had amassed $75.8 billion in its treasury. Clearly, we have the funds to spend on public infrastructure, with or without PPP.

Infrastructure projects have been slow to move as this administration remains fastidious about not letting public funds slip through the cracks of corruption. This is something we, the citizens, appreciate. However, it is also not realistic to hold out on public spending until the entire bureaucracy is 100 percent graft-free because as we all know, that’s not going to happen. At some point, it should be willing to work with a bureaucracy that is perhaps less corrupt than what it inherited in 2010. The consequence of not doing so is minimum growth, which by all accounts is equally bad.

http://www.mb.com.ph/articles/343678/3rd-quarter-growth-32

So is the declining economic growth an issue in PH?.....nah...Pnoy just found another cute gal, He is picking up a fight with SC and too worried and preoccupied on every move GMA do...

RonnieR

December 5th, 2011, 07:37 AM

RonnieR

December 5th, 2011, 07:54 AM

Nice reply! I should have known how to reply like you. You're good, man!

Where is the spreadsheet? You don't have to run, no need. I should have known you. Tsk tsk.

Batang_genio

December 5th, 2011, 07:57 AM

It's painful to see what this government is doing to the country.

http://a5.sphotos.ak.fbcdn.net/hphotos-ak-ash4/s320x320/375431_273170556067376_100001233015891_840563_1279708714_n.jpg

You think corruption is costly? Try incompetence.

The Philippines, Emerging or Submerging economy?

Makes sense?

http://a1.sphotos.ak.fbcdn.net/hphotos-ak-ash4/310517_1631871534805_1777140783_871165_1199394142_n.jpg

Reasons why it's hard to do business in the Philippines:

(list is not exhaustive, it depends on what type of business)
1. DTI registration
2. SEC registration
3. City/municipal Registration
4. BIR registration
5. Building permit/City Engr approval
6. Sanitary permit
7. DEC permit
8. DOT permit
9. DENR permit
10. Provincial Governor permit
11. Barangay permit

The whole process of securing the above requirements takes at least 3 months. At lahat niyan may kotong.

World class business centre or woefully mediocre?

^^ even Pro Pnoy die hard fans will have an impossible task explaining 3.2% growth, unless they invent their own economic theories....... Kahit pa andito lahat ng communication group at Yellow fans, there is no way on earth you can defend 3.2%.

Indonesia 6.5%
Vietnam 6.1%
Singapore 6.1%
Malaysia 5.8%
Thailand 3.5%
Pinas 3.2%

Post lang ulet natin para matuwa tayo... isipin mo relative measure malalaki pa lahat economies nila.. Singapore laki ng economy niyan nag grow pa ng 6.1%.... unbelievable ginawa sa Pinas talaga.... Pilipinas na sobrang dami mo pa kelangan i develop 3.2% Jesus Christ save us

While the countries that we'd like to compare with, ie the more developed ASEAN countries, are pulling further away and verging towards a developed country, even from a higher base level, the Philippines remains frustratingly stuck in the lower middle income level.

todjikid

December 5th, 2011, 08:05 AM

Furthermore, many Filipinos become rich and affluent here in PH thru business...

especially the oligarchs or any business that does not require paying tax (smuggling), or requires less electricity or gas (drugs).

and yes, lets not forget the grassroot corruption.

and the squabbling government agencies.

and the thousands of permits you have to go through and pay.

todjikid

December 5th, 2011, 08:06 AM

The report is given an importance in PH and in so many countries.

yey because of the report, I feel better.

Parchie

December 5th, 2011, 08:31 AM

Where is the spreadsheet? You don't have to run, no need. I should have known you. Tsk tsk.
"Sorry, I don't stoop to your level."

Batang_genio

December 5th, 2011, 08:31 AM

yey because of the report, I feel better.

Very discerning, todjikid. Praise releases are mere propaganda materials. Not worth the paper it's written on.

skyion

December 5th, 2011, 08:42 AM

Yep, this country has gone to the yellow dogs. Mediocrity is the new normal in the Philippines. The smart ones have left. Just return in 2016 when the country will be on par with Nepal, Laos and Burkina Faso while our ASEAN neighbours will be verging on developed nationhood. There'll be no way but up for this submerging economy, but then this country has always shot itself at its foot.

PNoy is definitely in denial and he thinks that if you kept flattering yourselves with praise releases and yes-men sycopants, then you'd start believing in your own lies.

will I have to say that I agree with this.

more of these honest, depthful insights and less of those mediocrity, flattery, and tardness then the nation should go places with its more discerning, broadminded citizens finally speaking their minds (not referring to pnoys and pnays).

RonnieR

December 5th, 2011, 08:52 AM

It's painful to see what this government is doing to the country.

The Philippines, Emerging or Submerging economy?

World class business centre or woefully mediocre?

While the countries that we'd like to compare with, ie the more developed ASEAN countries, are pulling further away and verging towards a developed country, even from a higher base level, the Philippines remains frustratingly stuck in the lower middle income level.

Well, this is the right one to discuss intellectually, avoiding exaggerations bordering to insults about the country i.e. by 2016, PH will be at par with Laos, Burkina Faso.

PH is no way can be considered as submerging economy. The debt ridden EU countries of Italy, Greece, Iceland are examples of submerging economy.

PH has a healthy Debt to GDP ratio, with rising income, investments are up, inflation is manageable, retail sales or consumer spending is still up, stock market has sustained, high international reserves among others.

The low GDP for this year is very disheartening indeed. As compiled by wiki (source is reliable), 2010 GDP nominal reflects that PH needs to grow faster than Indonesia, Thailand and Malaysia in order for this country to be competitive. PH cannot be complacent otherwise, Vietnam will overtake us soon. See, Laos is at the bottom.

For a country to be classified as High Income, the Gross National Income (GNI) Per Capita should be at least US$12,000. The GNI used to be called GNP or Gross National Product.

http://en.wikipedia.org/wiki/List_of_ASEAN_countries_by_GDP_%28nominal%29

GDP Nominal, 2010
— ASEAN 1,843,846
1 Indonesia 706,735
2 Thailand 318,850
3 Malaysia 237,959
4 Singapore 222,699
5 Philippines 188,719
6 Vietnam 103,574
7 Burma 35,646
8 Brunei 11,963
9 Cambodia 11,360
10 Laos 6,341

PH Council on Competitiveness is addressing the issues hounding on the lower rank of the country and that includes securing permits.

Despite the frustrating GDP 3rd quarter results, there are bright spots for the country:

1. United Nations Human Development Index (HDI) has increased. This has broader scope than the GDP. In ASEAN, Singapore, Brunei, Thailand, Malaysia are ranked higher than PH while the rest are obviously at the lower rank.

2. Manila again scored 128th out of 221 cities in the 2011 Quality of Living Survey of human resource consultancy Mercer LLC.

http://www.bworldonline.com/content.php?section=TopStory&title=Manila-maintains-quality-of-living&id=42460

Looking at the results, it is not really encouraging nor discouraging. I believe PH can attain a higher rank if it's serious based on the criteria set by Mercer LLC.

3. BPO as a sunrise industry although it is a fact that this sector alone cannot make it in attaining a 7% to 8% growth.

KnightOfTheFlag

December 5th, 2011, 08:54 AM

Yep...told ya.....
Pnoy-Who gives a damn about the economy!...Those SC justices are defying me! They must be dealt with FIRST!!:bash::ohno:

Analysis
Aquino rails at SC from bully pulpit
By: Amando Doronila
Philippine Daily Inquirer
3:12 am | Monday, December 5th, 2011

Parlous economy

In using the business gathering as a platform of his bully pulpit, curiously, his speech focused on the theme of his vicious feud with Arroyo, ignoring the state of the parlous economy and the court’s decision on the Luisita SDO.

The MBC seems to be the wrong venue in which to deliver another thundering Sermon on the Mount on the rectitude of the administration in the battle against corruption in public office.

There was nothing in the speech about how the administration would revitalize the flagging economy. It did not speak of economic programs, which he omitted in his first State of the Nation Address (Sona) in July.

The Hacienda Luisita issue similarly received a short shrift in the MBC speech, as it was in the Sona, as if it was a skeleton in the closet of the Aquino-Cojuangco political dynasty.

In speaking at the MBC, the President disappointed some businessmen who expected to hear a presentation of the concrete programs on how to boost economic growth, rather than incantations on “daan matuwid” as a magic formula to reduce poverty and bring food to the table of the poor.

The MBC, in its several statements over the past few months, has expressed concern over the underinvestment in infrastructure as necessary in driving economic growth so it can create more jobs.

Powerful weapon

In speaking before the MBC, Mr. Aquino availed himself of the bully pulpit—one of the most powerful weapons in the arsenal of the Philippine presidency—in mobilizing public opinion behind his policy objectives, including holding past officials accountable for alleged misdeeds.

This weapon is available exclusively to the presidency, including control of the entire bureaucracy, the judicial prosecution machinery, budgetary appropriations, the police, the armed forces, and the entire propaganda apparatus of government. These are not available to Congress or to the Supreme Court.

This is what makes the clash between the President and the court an uneven contest. This is why there is more reason to monitor the actions of the President in prosecuting Arroyo than those of the Supreme Court in giving due course to the petitions of Arroyo.

Mr. Aquino is sparing none of his weapons when he sought to discredit the court and to erode further its credibility. Reeking with self-righteousness, he catalogued a litany of accusations against the Supreme Court. He depicted himself as having been incapacitated to do reforms by some court decisions.

Here are some of the highlights of his tirades, from his own words, so the public can decide whether to damn the court being demonized.

“I was puzzled, even alarmed, by the behavior of the Supreme Court. Our people established our government to uphold the public good; we in the executive need: clarity in the rules, consistency in its interpretations, and a modicum of respect so that we can implement our plans. Therefore, what confronts me now is a central question: Can the executive fulfill its mandate given the current air of judicial uncertainty?”

He went on to say, “Because of the system of checks and balances … there is a built-in safeguard, a designated arbiter, when disagreements or questions arise. This arbiter … is supposed to be the Supreme Court. But this is premised on a fundamental assumption: that it will be objective and nonpartisan.

“When our lawyers all know that it takes the Supreme Court 10 days, normally, to attend to motions, and it decides to issue a TRO for Mrs. Arroyo in three, who can avoid wondering what she did, to merit such speedy relief?

“When, in deliberating on the TRO asked for by Mrs. Arroyo, the majority relied solely on the say-so of Mrs. Arroyo’s lawyers, when any review of the documents submitted to the court showed that she herself couldn’t make up her mind which cities she wanted to go to, how many people she wanted to bring, or what she wanted to do—see or attend forums—who can avoid wondering if her main priority was to escape the arm of the law?”

What about the shortcut by the government to produce a charge of election sabotage in two hours to enable the Pasay court to issue a warrant of arrest of Arroyo?

http://opinion.inquirer.net/18551/aquino-rails-at-sc-from-bully-pulpit

No wonder palace officials are trying "shield" Pnoy from the HCL issue, they know Pnoy will break down and blow up his "spoiled brat" tantrums around the media and government....well they really cant hold that "demon" for long as we know Pnoy has a very weak character.....but if this "demon" finally takes over completely...what are we to do???

RonnieR

December 5th, 2011, 08:56 AM

"Sorry, I don't stoop to your level."

So, why are you still affected?? writing an opinion on my post but not directly at me. There is an "ignore" button.

RonnieR

December 5th, 2011, 09:06 AM

will I have to say that I agree with this.

more of these honest, depthful insights and less of those mediocrity, flattery, and tardness then the nation should go places with its more discerning, broadminded citizens finally speaking their minds (not referring to pnoys and pnays).

Where is the depth ? I don't go for flattery description either. I know that in 1965, PH was the second richest country in Asia after Japan. PH was ahead in manufacturing industry, arts, entertainment, infrastructure, the presence of railways and automobiles but when Marcos left, sadly, the country was in the "Low Income" status. I appreciate facts, not "flowery" statements nor exaggerations just to emphasize a point.

The oligarchs during the Marcos era are still active to date: Danding, Lucio Tan, Ongpin....

s40

December 5th, 2011, 09:16 AM

KnightOfTheFlag

December 5th, 2011, 09:20 AM

Sarap ngang kurutin sa singit nyang damulag na yan para magbalik man lang yung malay-tao nya...

Officialdmcileasing

December 5th, 2011, 09:53 AM

The reports shows no improvement. Pababa ng pababa ang economy nten. Is the past administration better? hehe

boypad

December 5th, 2011, 12:23 PM

Philippines must pass information bill to take part in 9-country trade deal :lol:

SunStar Philippines
Monday, December 5, 2011

MANILA--Senate Minority Leader Alan Peter Cayetano on Monday said the Philippines must pass the Freedom of Information bill to participate in a Free Trade Area (FTA) being negotiated in the Pacific.

Cayetano said the Philippines will need to eliminate corruption--which the freedom of information bill helps address--to qualify for inclusion in the Trans-Pacific Partnership Agreement that the US and nine other countries are already negotiating.

The Trans-Pacific Partnership countries--Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, the US and Vietnam--are working out an FTA that will eliminate tariffs but will also require regulatory coherence, including making sure that customs officials release goods as soon as possible. The TPP agreement will also put emphasis on transparency and due process.

According to the Office of the US Trade Representative, the Philippines has already expressed interest in joining the FTA. The Philippines and the US have already signed a trade facilitation agreement to ensure faster release of goods and transparency in customs administration. The two countries have also agreed to share information with each other when there is "a reasonable
suspicion of unlawful activity."

http://www.sunstar.com.ph/breaking-news/2011/12/05/philippines-must-pass-information-bill-take-part-9-country-trade-deal-19416

Flipmarc

December 5th, 2011, 04:39 PM

manila_eye

December 5th, 2011, 06:39 PM

FlashCollider

December 5th, 2011, 08:11 PM

Robust 4th quarter growth seen (http://www.mb.com.ph/articles/343802/robust-4th-quarter-growth-seen)

By EDU LOPEZDecember 6, 2011, 2:36amMANILA, Philippines — The National Economic and Development Authority (NEDA) is expecting a robust and favorable growth in the fourth quarter of 2011.

Socio-economic Planning Sec. Cayetano Paderanga, Jr. said that fourth quarter prospects include the anticipated higher demand during the Christmas and harvest seasons; a more stable macroeconomy; a broadly steady consumer sentiment; the continued inflows of remittances from Filipinos overseas; the reported higher level of business confidence relative to the previous quarter; and the full implementation of the P72- billion disbursement acceleration program of the government.

Paderanga is confident of a robust consumption, continuing improved investments, and higher government consumption in the near term.

“Private consumption will be buoyed by increased household spending in the year-end, particularly on items related to food and utilities. Spending will be spurred by broadly stable commodities’ prices. Consumer sentiment will be more optimistic which will be carried over to 2012.”

Manila-Clark Express Railway Pushed Within NLEX-SLEX Connector Road (http://www.mb.com.ph/articles/343793/manilaclark-express-railway-pushed)

By BERNIE CAHILES-MAGKILATDecember 6, 2011, 12:41amMANILA, Philippines — The 12-kilometer connector road between the South Luzon Luzon Expressway (SLEX) and North Luzon Expressway (SLEX) has to be redesigned to accommodate the plan of the Department of Transportation and Communication (DoTC) to construct an express rail alongside the elevated tolllroad.

Carina Cabral, assistant secretary of the Department of Public Works and Highways, said this during an investment briefing with the UK Mission on the country’s Public-Private Partnership program.

According to Cabral, the 12-kilometer elevated connector tollroad for SLEX and NLEX is under negotiation. The Manila North Tollways Corp. (MNTC) has proposed to build the connector road (Buendia skyway to Caloocan) for P17 billion.

Hoping it will come to fruition.

monsy

December 5th, 2011, 08:30 PM

what campaigning, it's just the Jaundice virus in your brain that's whispering Evil Yellow thoughts according to the gospel of Yellow puppet corporate media. SLAMAT oligarchLORRRD

Hahaha, I'am not a Yellow fan, i just despise the Marcoses. You are obviously a Marcos loyalist, every time you have a chance to insert the name Marcos in your every post you will do it.

skyion

December 6th, 2011, 12:27 AM

Hahaha, I'am not a Yellow fan, i just despise the Marcoses. You are obviously a Marcos loyalist, every time you have a chance to insert the name Marcos in your every post you will do it.

what good does it make if one's not a Yellow fan or kahit blower pa, but exhibiting the comprehension of a typical mediocre, media dumbed down, hypnotized Yellow Zombie.

and what a comprehension likened to pingpong table whose Yellow balls can only translate one side's pik as Aquino and the other pok as Marcos, ayan tuloy di lang wang wang wang wang wang umaandar sa kukoteng Dilaw kundi pati na rin pik-pok-pik-pok-pik-pok :nuts: :ohno:

Eastern Dragon

December 6th, 2011, 03:21 AM

what good does it make if one's not a Yellow fan or kahit blower pa, but exhibiting the comprehension of a typical mediocre, media dumbed down, hypnotized Yellow Zombie.

graahhhrrrrrrrr, we are zombies, we will eat all of you non believers especially your brains. . . . . . . .

:ohno::ohno::ohno: zombies were disappointed, we found no brain when we cracked your skull.

mumraaahhh!!!!:lol:

skyion

December 6th, 2011, 04:05 AM

graahhhrrrrrrrr, we are zombies, we will eat all of you non believers especially your brains. . . . . . . .

:ohno::ohno::ohno: zombies were disappointed, we found no brain when we cracked your skull.

mumraaahhh!!!!:lol:

^^ that's what one gets when a Zombie is also a Tard...:ohno:

Eastern Dragon

December 6th, 2011, 04:36 AM

^^ that's what one gets when a Zombie is also a Tard...:ohno:

:lol::lol::lol:

init ng ulo ni genius. :lol::lol::lol:

graerrhhrr. munch. munch. munching.

yellow zombies. :lol:

urban Iegend

December 6th, 2011, 05:10 AM

^^ wala ka bang pasok ngayon, Joshua? :|

Eastern Dragon

December 6th, 2011, 05:15 AM

^^ wala ka bang pasok ngayon, Joshua? :|

oy, pokwang andito ka? wala bang shooting ngayon?

yung sumbrero sorbetero mo, wag mo kalimutan. :lol::lol::lol:

nice. another intellectual that we have. fall in line please.

andami nyo na kasi nagngingitngit sa galit. :lol:

mao rong

December 6th, 2011, 05:40 AM

^^ wala ka bang pasok ngayon, Joshua? :|

^^:lol::lol::lol:

:rofl: :rofl:

http://img23.imageshack.us/img23/6424/ed2cz.jpg

http://img716.imageshack.us/img716/2465/ed1w.jpg

:lol::lol::lol::lol::lol:

Askal82

December 6th, 2011, 06:00 AM

jpdm

December 6th, 2011, 06:02 AM

DTI to consolidate industry roadmaps

Malaya Business Insights
Dec. 6, 2011

THE Department of Trade and Industry (DTI) said it is crafting an industry development plan focusing on growth industries; those that generate jobs as well as those with large potential.

The DTI is developing and consolidating industry roadmaps to further boost the country’s competitiveness.

"DTI is working on a comprehensive industry development strategy for the Philippines. We will work towards consolidating industry roadmaps to help identify the key strategies, investment requirements, and the required policy support to increase our competitiveness and sustain economic growth," said Adrian Cristobal Jr., undersecretary for industry development and trade policy.

The existing growth industries that the DTI cited are the electronics, ICT/BPO/call centers, shipbuilding, steel fabrication, mining, and plantation farming.

The second category of industries, mostly SMEs, are the agribusiness, tourism, processed food, handicraft and manufacturing businesses – industries that could help boost job generation in the countryside. The third category of industries with large-scale potential are car/tire manufacturing, bamboo, palm oil, rubber, corn, and prawn farming, among others.

Among 142 countries, the Philippines ranked 75th in the World Economic Forum’s (WEF) Global Competitiveness Report (GCR), up by 10 notches from the previous year. The WEF cited the Philippines as one of the biggest improvements in its 2011 report.

The industry development plan is also based on the clamor of the different business chambers in the country for the government to come up with a comprehensive industry development plan.

Cristobal said the DTI will be partnering with the private sector through the National Competitiveness Council (NCC), Federation of Philippine Industries (FPI), Joint Foreign Chambers of the Philippines and other business chambers to achieve this goal.

Cristobal noted that most mature industries, such as the IT/BPO and semiconductor and electronics industries, have their roadmaps in place and that the DTI will help the growing industries develop their respective roadmaps.

DTI’s public consultation series on trade policy "One Country, One Voice" held in key cities in the country and consultations with different business chambers surfaced the need for a comprehensive industry development plan. The DTI cites the public consultation series as instrumental in developing partnerships with the agency’s stakeholders and in developing initiatives for better governance.

http://www.malaya.com.ph/dec06/busi8.html

:cheers::cheers::cheers::banana::banana:

jpdm

December 6th, 2011, 06:07 AM

PAGCOR’s Entertainment City
set to international standards

Malaya Business Insights
Dec. 6, 2011

Cristino L. Naguiat, Jr., chairman and president of PAGCOR, said the state-owned gaming firm recently stipulated new guidelines that define the minimum standards required to operate an integrated resort in the Entertainment City Manila.

"This is in order to rationalize project implementation and assure a level playing field," Naguiat said.

Four companies were granted the authority to build, own and operate integrated resorts in Entertainment City Manila – the Travellers International Hotel Group, Inc., which owns Resorts World Manila; the SM Consortium; Tiger Resorts Leisure and Entertainment Inc., and Bloomberry Resorts and Hotels Inc.

Entertainment City Manila is expected to generate aggregate investments from the four licensees of at least $4 billion in the next five years.

The PAGCOR guidelines require a minimum of $1 billion to be invested in each integrated resort. Each licensee is also required to build a minimum of 250,000 square meters of floor area and complete 800 hotel rooms with an average hotel room area of 40 square meters before opening the casino.

"We intend to capture a share in the total global gaming market, which is estimated at $115 billion annually, through the Entertainment City Manila project. A 10-percent share will give us $11.5 billion which would make us bigger than Las Vegas. Our strategic location in Asia and the world-renowned Filipino hospitality and service set us apart from other countries in the region. We expect to generate P1 million jobs and P1 million tourists in the next few years," Naguiat added.

http://www.malaya.com.ph/dec06/busi14.html

:cheers::cheers:

Eastern Dragon

December 6th, 2011, 06:53 AM

^^:lol::lol::lol:

:lol::lol::lol: naks, andito namam tong isang to. :lol:

may nakita ka na bang blackberry dyan?:lol::lol::lol:

musta na yong uncle mo na may alam na anomaliya sa cct?:lol:

yeah, i estimated wrong, just like all financial institutions. :lol::lol::lol:

kahit nga si s40 expected a higher rate. :lol::lol::lol:

s40

December 6th, 2011, 07:06 AM

:lol::lol::lol: naks, andito namam tong isang to. :lol:

may nakita ka na bang blackberry dyan?:lol::lol::lol:

musta na yong uncle mo na may alam na anomaliya sa cct?:lol:

yeah, i estimated wrong, just like all financial institutions. :lol::lol::lol:

kahit nga si s40 expected a higher rate. :lol::lol::lol:

wag mo ako isama diyan :lol::lol: ni revise ko target ko to 3.5% bago lumabas yung official numbers hehe:lol:

amigo32

December 6th, 2011, 08:02 AM

wag mo ako isama diyan :lol::lol: ni revise ko target ko to 3.5% bago lumabas yung official numbers hehe:lol:

ikaw namn, pagbigyan mo na, naghahanap ng kakampi yan, ikaw na nga lang dito at si botoy, at yung " mga financial institutions" kuno:lol::lol::lol::rofl:

Bosnyboy

December 6th, 2011, 08:22 AM

Well, Pnoy do have a point because it seems that people in the government always forget that the consequences of their actions affect the people where they derive their power from and this is true from the lowest barangay tanod up to the president.

So, the people should learn that that we don't owe them - they owe us big time. So any time you go to any of the government offices to conduct business and those government employees seem to be nasty, we should remind them that it's our taxes that gave them jobs in the first place.

So anytime we see a giant billboard of a politician claiming credit for projects, we should demand them to be removed because it is the tax payer's money and not theirs.

Easier said than done. If you see a giant poster with the ugly face of the politician and you demand to have it remove then just wait and you'll either received a death threat via fone call/ text or a visit from his body guard. Philippines is still in a semi feudal state. 3G still rules in this country specially in the country side. Whats 3G you ask? Its guns, goons and gold.

Bosnyboy

December 6th, 2011, 08:30 AM

:cheers::cheers:

Press release, dyan magaling mga tauhan ng admin na ito. Press release, pa pogi wala naman project. Credit grabbers. Ni isang major project wala man lang na launch tong admin. Puro bola bola kamatis. Pati nga yung simpleng project sa manila baywalk na sobra sa media exposure wala ring nangyari. May joint press conference pa ang mmda chairman, at dpwh sec, kasama din si mayor lim, nag present ng future baywalk after the destruction brought by typhoon pedring nung july. Awa ng Dyos drawing pa ren. Unti unti ng kinakain ng manila bay ang natitirang baywalk dahil sa erosion dahil sandbag lang ang ipinantapat sa tubig dagat.

Dyan magaling itong admin puro yabang, puro satsat walang output. Asan na ang PPP? Akala ko dati ang PPP ay Puro Palpak Project yun pala Proyektong Pag aaralan Po namin muna. Puro papogi mga pangit naman.

Bosnyboy

December 6th, 2011, 08:35 AM

Akala ko ba may magpapa self ban ang isa dyan dahil 4.6% daw ang bet nya sa 3rd qtr gdp? Diba kakampi ni pnoy yun? E di dapat isabuhay nya ang salita ng idolo nyang "Tuwid na daan" So bat di pa nag paself ban?

Kaya next time ingat ingat lang, wag masyado mayabang tulad ng admin na ito. Butangero laging naghahanap ng away. Kulang sa diplomasya.

monsy

December 6th, 2011, 08:46 AM

mwg12a

December 6th, 2011, 08:50 AM

^^ :lol: I didn't realize he is also a Marcos supporter along with Arroyo's. I mean I am not trying to trash talk the Marcos children since they are doing a very good job for their people in Ilocos, but supporting Marcos and Arroyo despite of the corruptions or anomalies?:ohno:

Press release, dyan magaling mga tauhan ng admin na ito. Press release, pa pogi wala naman project. Credit grabbers. Ni isang major project wala man lang na launch tong admin. Puro bola bola kamatis. Pati nga yung simpleng project sa manila baywalk na sobra sa media exposure wala ring nangyari. May joint press conference pa ang mmda chairman, at dpwh sec, kasama din si mayor lim, nag present ng future baywalk after the destruction brought by typhoon pedring nung july. Awa ng Dyos drawing pa ren. Unti unti ng kinakain ng manila bay ang natitirang baywalk dahil sa erosion dahil sandbag lang ang ipinantapat sa tubig dagat.

Dyan magaling itong admin puro yabang, puro satsat walang output. Asan na ang PPP? Akala ko dati ang PPP ay Puro Palpak Project yun pala Proyektong Pag aaralan Po namin muna. Puro papogi mga pangit naman.

^^ What government or Philippine President never let out press release. Pictures of Arroyo all over the country on the infrastructure projects she had can be considered as such. Does the slogan "ramdam na ramdam ang kaularan"(or something like that) ring a bell? It would have been nice if we didn't start hearing some filipinos started eating pagpag during those years, something to match the infrastructure projects that was achieved.

RonnieR

December 6th, 2011, 10:42 AM

Hahaha, where is your source that Fernando Lopez plot to kill Marcos? Reading your post is like reading a komiks, puro kwento. You're trying to alter history, it's like you're saying that the poor Marcos was the victim of the Lopezes and after by the Filipino people by supporting the People Power, hahaha, 1960s and 70s ilang bahay kaya ang may television noon at radio?

What's next? The Marcoses will sue the government because Apo only got 20 years and Ghadafi got 40 plus years, hahahaha.

^^ :lol: I didn't realize he is also a Marcos supporter along with Arroyo's. I mean I am not trying to trash talk the Marcos children since they are doing a very good job for their people in Ilocos, but supporting Marcos and Arroyo despite of the corruptions or anomalies?:ohno:

Precisely. History cannot be altered on what Marcos did to the country.

What an era for the Philippines in 1960s to 1970s, citizens beaming with pride, the prosperity, affluence, the Central Business District of Escolta with theaters and department stores, presence of strong manufacturing industry, poverty was manageable, no slums, strong currency, very low public debt and people were fashionable. I really envy every time I look at the photos of oldies bec. they really dressed so well in that era and based on history books, the same scenario can be seen in other cities, provinces and municipalities.

Marcos regime committed a crime that is beyond comprehension by bringing this country to be so low towards 1980s! If he was a good President, PH would have been a newly developed country by now or at the least an Upper Middle Income.

xxxriainxxx

December 6th, 2011, 10:46 AM

RonnieR

December 6th, 2011, 10:48 AM

^^ If that FOI bill becomes a law, Transparency International claimed that it will push the rank of PH several notches higher.

jpdm

December 6th, 2011, 10:54 AM

Buy locally made products to spur economy, Casiño tells Xmas shoppers

THURSDAY, 01 DECEMBER 2011 20:16
FERNAN MARASIGAN / REPORTER
Business Mirror

Amid the expected Christmas shopping frenzy, the chairman of the House of Representatives’ Committee on Small Business and Entrepreneurship Development called on the public to buy Filipino-made products “to help spur the local economy and provide much-needed income to our local producers, especially the micro, small and medium enterprises [MSMEs].”

“It is during Christmas that we see so much imported products being dumped in our country—from grapes, apples and oranges to Christmas lights, shoes and clothes. Sana huwag nating kalimutan ang ating mga kababayang Pinoy na lumilikha ng sarili nating produkto. Kung bibili rin naman tayo ng pang Noche Buena o panregalo, bilhin na natin ang gawang Pinoy,” said Party-list Rep. Teodoro Casiño of Bayan Muna during a news forum in Quezon City.

Casiño’s call was supported by Federation of Philippine Industries (FPI) president Jess Aranza and National Economic Protectionism Association (NEPA) president Bayan de la Cruz, who are all members of Buy Pinoy, Build Pinoy!, a grassroots-based movement to promote the consumption of Filipino-made products and to push for policies beneficial to local producers/entrepreneurs.

At the same time, Casiño called on returning OFWs to avoid the hassle of bringing in so many boxes of imported goods and to shun duty free shops.

“Ipakita natin sa ating mga kamag-anak at kaibigan na ang tunay na balikbayan ay yung bumabalik sa pagtangkilik ng produktong Pilipino. Mas maganda kung ang ating mga pasalubong, bagamat nagmula sa perang dayuhan, ay gawang Pinoy, pusong Pinoy,” said Casino.

He said that the country’s MSMEs stand to benefit the most if Christmas shoppers buy Phlippine-made products. The sector is comprised of more than 750,000 firms, accounting for 99.6 percent of total establishments and contributing 61.2 percent of total employment. Most of them are into the production of consumer goods, mostly food and retail services.

 “From a multiplier effect standpoint, it would be best for our kababayan to buy from tiangges and small stores that sell locally-sourced products. For Noche Buena, let’s buy locally-grown fruits from the market. Bumili tayo ng bibingka at puto bungbong, tsokolateng tablea imbes na imported instant chocolate. Kesong puti sa halip na queso de bola. T-shirt na gawa sa Bulacan o damit sa Baclaran, sa halip na imported sa France at US,” Casiño said.

On Tuesday, Casiño filed House Bill 5573 declaring November as the “Buy Pinoy, Build Pinoy Month.”

“We set November as the Buy Pinoy, Build Pinoy Month so as to give due time to our local producers to prepare their goods and so that the campaign would be on our shopper’s minds when they do their Christmas shopping,” he said.

http://www.businessmirror.com.ph/home/economy/20100-buy-locally-made-products-to-spur-economy-casino-tells-xmas-shoppers-

Lets support this to push our GDP and local employment rate up!!:cheers::cheers::cheers::banana::banana:

xxxriainxxx

December 6th, 2011, 10:57 AM

^^ If that FOI bill becomes a law, Transparency International claimed that it will push the rank of PH several notches higher.

Not even about rankings, but this agreement other countries are negotiating paves the way not only for economic trade but it has geopolitical ramifications. This is seen as a leverage to China's hold on global trade. Nakuuu wag tatanga tanga ang gobyerno.

Eastern Dragon

December 6th, 2011, 11:07 AM

wag mo ako isama diyan :lol::lol: ni revise ko target ko to 3.5% bago lumabas yung official numbers hehe:lol:

:lol::lol::lol:

the 2q growt was 3.4%. 3.5% is still higher than 3.4%. :lol::lol::lol:

so your revised target was higher than both the 3q and 2q actual. :lol::lol:

Eastern Dragon

December 6th, 2011, 11:11 AM

ikaw namn, pagbigyan mo na, naghahanap ng kakampi yan, ikaw na nga lang dito at si botoy, at yung " mga financial institutions" kuno:lol::lol::lol::rofl:

you do know that banks release economic outlooks right?

metrobank released an economic outlook sometime august predicting a 5% growth for whole year 2011. :lol::lol::lol:

jpdm

December 6th, 2011, 11:26 AM

PCCI identifies 12 growth drivers

MONDAY, 05 DECEMBER 2011
MAX V. DE LEON / REPORTER
BusinessMirror.com.ph

The new officers of the Philippine Chamber of Commerce and Industry (PCCI) will push 12 priority sectors for investment promotion under the group’s new campaign “Invest on Dozen Drivers.”

The priority sectors are agribusiness, business-process outsourcing, mining, tourism, home décors and lifestyles, shipbuilding, housing, construction and infrastructure; education, R&D and training, creative industries, electronics, transport equipment, and logistics.

Lawyer Miguel B. Varela, who was elected for the second time as PCCI president, said the sectors were chosen based on the Export Development Plan, the Medium-Term Philippine Development Plan, the “Arangkada” initiative of the Joint Foreign Chambers and dialogues with the group’s regional chambers.

“We considered all these, plus we looked at our countryside development program, cost of doing business especially power, and the existing road maps that we have. We need to consider and balance all these in coming up with mechanisms that will boost these sectors,” Varela told the BusinessMirror.

Varela said the PCCI will harness the cooperation of the various business organizations, foreign chambers, embassies and donor organizations in support of PCCI’s Invest on Dozen Drivers campaign.

The 12 sectors, he said, should be the focus for investment promotions and expansion as well as support for the growth of small and medium enterprises.

http://www.businessmirror.com.ph/home/top-news/20280-pcci-identifies-12-growth-drivers

:cheers::cheers::cheers::banana::banana:

Eastern Dragon

December 6th, 2011, 11:32 AM

:cheers::cheers::cheers::banana::banana:

magandang move to ng pcci. is this the first time that they made a stronger push to identify drivers coz i remember in the past years hindi sila nagrelease ng ganito.

good move. :banana:

jpdm

December 6th, 2011, 11:34 AM

Eastern Dragon

December 6th, 2011, 11:42 AM

^^^^^^Somehow, DTI, FPI and PCCI are doing something to come up with a concrete industry plan that will spur industries and manufacturing in the country---considered as the main drivers of growth.:cheers::cheers:

great. to be honest, i have not seen the private sector as proactive as this compared to the last dozen years or so. :lol::lol::lol:

even sa FDI and other invesments, the locals have been taking up the cudgels as the government focuses on anti-corruption drive.

:cheers:

amras

December 6th, 2011, 01:30 PM

or could it be that the private sector is just picking up the slack?

boypad

December 6th, 2011, 02:04 PM

Lawmakers score poverty dip via ‘statistical magic’ :ohno:

By Gil C. Cabacungan Jr.
Philippine Daily Inquirer
2:54 am | Tuesday, December 6th, 2011

Lawmakers are pushing for a more realistic yardstick for counting the number of poor Filipinos after the government lowered the minimum daily subsistence level from P52 to P46 per person, a move that significantly lowered the country’s poverty incidence.

Kabataan Representative Raymond V. Palatino on Monday scored the National Statistical Coordination Board (NSCB) for adopting a new poverty threshold level which he said “deceptively” led to a reduction in the poverty rate from 26.3 percent to 20.9 percent.

“We are able to reduce poverty not by improving the lives of Filipinos but through statistical magic. The new scheme effectively decreases the number of poor Filipinos by 5.3 million without improving the poverty situation. If this was presented without explaining the drastic change in the methodology, it could be used to push for economic results,” Palatino said in an interview with the Philippine Daily Inquirer.

Palatino authored House Resolution No. 960 which seeks to investigate the NSCB adoption of a new poverty measurement scheme.

http://newsinfo.inquirer.net/105955/lawmakers-score-poverty-dip-via-%E2%80%98statistical-magic%E2%80%99

skyion

December 6th, 2011, 02:08 PM

always the Yellows reek of contemptuous Hypocrisy it has become an inevitable trademark associated with the color on whatever issue they speak, which always end up eating their own words.

and speaking of History neither will it be on their side the moment it reveals the real mastermind behind Ninoy's assassination, behind the Hacienda Luisita massacres, the deceit associated with Yellow Hypocrisy, the stigma that the color demotes not just locally but Internationally as even it gets the attention International Community that puts in disturbing question how Democracy had created such a devolved (Yellow) society.

jpdm

December 6th, 2011, 02:23 PM

Lawmakers score poverty dip via ‘statistical magic’ :ohno:

By Gil C. Cabacungan Jr.
Philippine Daily Inquirer
2:54 am | Tuesday, December 6th, 2011

Lawmakers are pushing for a more realistic yardstick for counting the number of poor Filipinos after the government lowered the minimum daily subsistence level from P52 to P46 per person, a move that significantly lowered the country’s poverty incidence.

http://newsinfo.inquirer.net/105955/lawmakers-score-poverty-dip-via-%E2%80%98statistical-magic%E2%80%99

Look carefully again @boypad::lol::lol:

Lawmakers score poverty dip via ‘statistical magic’

By Gil C. Cabacungan Jr.
Philippine Daily Inquirer
2:54 am | Tuesday, December 6th, 2011
35share534494

Kabataan Representative Raymond V. Palatino on Monday scored the National Statistical Coordination Board (NSCB) for adopting a new poverty threshold level which he said “deceptively” led to a reduction in the poverty rate from 26.3 percent to 20.9 percent.

He pointed out that whether the old or the new methodology was used, trends in poverty estimates were consistent at the national level: poverty incidence declined from 29.2 percent in 1991 to 26.3 percent in 2009 in the old system, and dropped from 28.3 percent in 1991 to 20.9 percent in 2009 under the new methodology.

http://newsinfo.inquirer.net/105955/lawmakers-score-poverty-dip-via-%E2%80%98statistical-magic%E2%80%99

2009 pa pala minamasahe ang poverty data? Naku sino kaya presidente nuon???toinks!:lol::lol:

boypad

December 6th, 2011, 02:27 PM

Look carefully again @boypad::lol::lol:

2009 pa pala minamasahe ang poverty data? Naku sino kaya presidente nuon???toinks!:lol::lol:

^^ Why always the blame the past, its almost few weeks before we end 2011 already and sino ang presidente ngayon??? :lol:

jpdm

December 6th, 2011, 02:31 PM

^^ Why always the blame the past, its almost few weeks before we end 2011 already and sino ang presidente ngayon??? :lol:

Why look in the past? Mukhang hindi mo naintindahan ang sarili mong post bossing. toinks!!!:lol::lol::lol:di lol::lol::lol:

Sa sobrang bitter mo sa present, nakalimutan mo na yung new methodology ng NSCB na introduced pala last 2009 at ang data na pinost mo, poverty stat for 2009 din-kaya bakit 2011 sinasabi mo?:lol::lol::lol:

basa ka uli pards ha. Read carefully...toinks!!!:lol::lol::lol:

boypad

December 6th, 2011, 02:56 PM

Why look in the past? Mukhang hindi mo naintindahan ang sarili mong post bossing. toinks!!!:lol::lol::lol:di lol::lol::lol:

Sa sobrang bitter mo sa present, nakalimutan mo na yung new methodology ng NSCB na introduced pala last 2009 at ang data na pinost mo, poverty stat for 2009 din-kaya bakit 2011 sinasabi mo?:lol::lol::lol:

basa ka uli pards ha. Read carefully...toinks!!!:lol::lol::lol:

^^ Sorry I'm not vegetarian but what I'm trying to point out is why continue using this outdated data when the new gov't. already knew that yun inflation had gone up several times for the past few years. Who knows once a new data is in place biglang dadami lalo yun tao below the poverty line.

Just look around on the street and you will know what I mean.

wolfram74

December 6th, 2011, 02:58 PM

Electronics exporters see steeper 2011 fall (http://www.bworldonline.com/content.php?section=TopStory&title=Electronics-exporters-see-steeper-2011-fall&id=42776)

ELECTRONICS EXPORTS could plunge by as much as 25% this year as manufacturers expect last quarter results to hit new lows, an industry official yesterday said.

The even more dismal outlook for 2011 -- the -25% figure is worse than -18% estimate held as of October -- was discussed last Friday by the Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI).

...

:ohno::ohno:

jpdm

December 6th, 2011, 02:59 PM

^^ Sorry I'm not vegetarian but what I'm trying to point out is why continue using this outdated data when the new gov't. already knew that yun inflation had gone up several times for the past few years. Who knows once a new data is in place biglang dadami lalo yun tao below the poverty line.

Just look around on the street and you will know what I mean.

owwwwsss...toinks!

Anyway, on this issue, I agree.

NSCB should adjust the FIES reflecting the prevailing (current) price index.

wolfram74

December 6th, 2011, 03:00 PM

KnightOfTheFlag

December 6th, 2011, 06:32 PM

WOW! Ang galing nga analysis ni PANOT!!!...ANG SC PA RAW ANG MAY KASALANAN KUNG BAKIT BAGSAK ANG EKONOMIYA!!...ITS ANYBODY AND EVERYBODY'S FAULT EXCEPT MEEE!!! A real spoiled brat mentality. My golly! talagang lakas-tama na tong si Pnoy! Sya tong ayaw gumastos buong taon tapos kasalanan daw ng SC :lol::lol::lol::lol: as if SC has a direct hand handling government finances...I was waiting for his own comment about the flagging economy, what happened and what went wrong....FINALLY HE SPEAKS UP!..

HINDI KO KASALANAN!! KASALANAN NG SC! Ang SC tuta ni Gloria so
I BLAME GLORIA!!!!!!:ohno::bash::ohno::bash:....this is what we will hear for the next 4 years...ITS NOT MY FAULT! I BLAME, I BLAME, I BLAAAAAMMMEE!....

Aquino blames unstable judiciary for poor economy
Published : Wednesday, December 07, 2011 00:00
Article Views : 73
Written by : Jaime Pilapil, Reporter

There was no stopping President Benigno Aquino 3rd from stepping up his attack on the judiciary on Tuesday, this time blaming the co-equal branch of the government for the country’s slow economy.

“A judicial system that does not promote stability and certainty does not enhance the economic environment,” President Aquino said during the media forum Bulong Pulungan at Hotel Sofitel in Pasay City (Metro Manila).

As such, the President added, whipping up the economy into better shape by making it generate employment would still be his administration’s main concern for next year.

“We are not changing priorities, the very first problem that I had during the campaign was jobs, it is still the economy that is still the priority” in 2012, he said.

Mr. Aquino, however, sued for time.

“Adversely, an economic environment that does not have a level playing field will not see [an improved economy] as possible but we are saying that in about an hour’s time I am meeting with the economic team and one of the questions that we will get is how, we are in transition from before, the money of government or the public’s money was being spent, so now the purpose of prudent spending, change in culture that could not happen overnight,” he said.

According to him, he wanted to “maintain the safeguards and, at the same time, accelerate the
process where disbursements by the DBM [Department of Budget and Management] are actually utilized by the line agencies at the quickest possible time.”

“I do not want a repeat of what transpired this year,” he added, without elaborating.

The President called for “prudent” spending, which, he said, enabled the government to get closer to the number of classrooms (45,000) that he had promised during his State of the Nation Address in July this year.

He announced progress in his administration’s Public-Private Partnership program, citing the bidding for an expressway project and rebuilding of Terminal 1 of the Ninoy Aquino International Airport… “then of course the aesthetics after that.”

Mr. Aquino attacked the Supreme Court on Monday, telling Chief Justice Renato Corona that he was a “midnight appointee” of then-President Gloria Arroyo.

On December 2, he also publicly humiliated Corona before the elite Makati Business Club.
Monday’s savaging of the Chief Justice came with the territory, according to the President’s allies in the House of Representatives.

Rep. Miro Quimbo of Marikina City (also in Metro Manila) told the weekly Ugnayan sa Batasan News
Forum that the High Tribunal “should not be onion-skinned.”

Rep. Teddy Brawner Baguilat of Ifugao agreed, saying that the Supreme Court is not a sacred council.

Joseph Victor Ejercito of San Juan City (also in Metro Manila) said, also without elaborating, that the attack on the Chief Justice resulted from the President’s frustration.

Palace spokesman Edwin Lacierda said that the President did it because he wanted “to remind all government officials that we are all accountable to the people.”

http://www.manilatimes.net/index.php/news/top-stories/12723-aquino-blames-unstable-judiciary-for-poor-economy

wino

December 6th, 2011, 06:34 PM

huh?

boypad

December 6th, 2011, 08:13 PM

Window dressing :lol:

BusinessWorld Online
Opinion -Core
By Benjamin E. Diokno
Dec. 6, 2011

With less than four weeks to go before the end of the fiscal year, the Aquino administration is frantically releasing funds to show a higher spending rate. This is clearly in reaction to the growing criticism from international financial organizations and institutions, businessmen, legislators, Bangko Sentral officials, economists, and media practitioners that the government, instead of being part of the solution, has become part of the problem.

The government’s failure to spend money for public infrastructure has contributed to the economic slowdown this year. In the third quarter alone, construction contracted by 12.2%, with public construction plunging by a steep 21.3%.

What happened to the government’s catch-up plan? Apparently it didn’t take off. The recently released fiscal numbers by the Department of Budget and Management suggest that from January to October 2011, out of a P242-billion full-year program for public infrastructure and other capital outlays, only P100 billion has been spent.

Compared with an estimated program of P201 billion for the first 10 months of the year, that is equivalent to only 41%. The impossible task is how to disburse the 59% of the capital spending program during the final eight weeks of the year.

http://www.bworldonline.com/content.php?section=9&title=Window-dressing&id=42812

boypad

December 6th, 2011, 08:17 PM

Philippine growth forecasts slashed anew by ADB :ohno:

BusinessWorld Online
Dec. 6, 2011

THE ASIAN Development Bank (ADB) now expects the Philippine economy to grow by just 3.7% this year as it trimmed forecasts for many emerging Asian economies amid unresolved crises in the United States and the euro zone.

The Manila-based multilateral lender’s latest Asian Economic Monitor showed a one-percentage-point cut in the outlook for Philippine gross domestic product (GDP) from September’s 4.7%. In April, the ADB forecast 5% growth for 2011.

GDP grew by a record 7.6% last year.

The ADB expects an improvement to 4.7% in 2012, down from 5.1% in September. It is lower than the government’s 7-8% growth target and the budget “assumption” of 5.5-6.5% growth for 2012.

The 2011 outlook is also lower than the government’s downwardly revised 5-6% target and forecast 4.5-5.5% expansion for this year.

http://www.bworldonline.com/content.php?section=TopStory&title=Philippine-growth-forecasts-slashed-anew-by-ADB&id=42859

todjikid

December 6th, 2011, 08:36 PM

graahhhrrrrrrrr, we are zombies, we will eat all of you non believers especially your brains. . . . . . . .

:ohno::ohno::ohno: zombies were disappointed, we found no brain when we cracked your skull.

mumraaahhh!!!!:lol:

this is actually funny. but the issue on decreasing GDP is not funny at all. pero natawa pa rin ako.

FlashCollider

December 6th, 2011, 09:04 PM

FlashCollider

December 6th, 2011, 09:08 PM

:cheers::cheers::cheers::banana::banana:

Very good move, this will simplify the process.

wino

December 6th, 2011, 10:34 PM

@PCCI

hinde ba matagal na na-identify yang mga "priority growth sectors/drivers" na yan?
that's not something new.. really...

what will be more interesting is kung concrete investments na ang binabalita.. hanggang ngayon nasa CAMPAIGN stages parin.. tagal tagal na nian... di parin nag mamaterialize ang targeted investments sa mga sector na yan...

take for example MINING.. matagal nang na identify yan to be the next boom in the Philippines.. so far ano na????

so far.. these are just mere words in paper..

one more thing, it's just sad, that the private sector has to always remind the government or do the "government's job"... kelan ba magkukusa ang gobyerno?
kung hinde pa kikilos ang private sector, walang mangyayari...

Kudos for PCCI for stepping up..
also to PEZA .. it seems they're the only one who's actually working and effective at the same time.

the government should target to put more special economic zones to other Philippine provinces. Specially on Manufacturing and AGRO-INDUSTRIAL Imagine the impact on it.

here's an image of the current economic zones in the country. from the PEZA website
Notice that IT parks lead the numbers with 157 sites..
Manufacturing only comes in second with only 64 sites..
agro industrial with a disappointing 15 sites only...
http://www.peza.gov.ph/images/stories/Map/operating_list.gif

kenken94

December 7th, 2011, 12:05 AM

galing ng analysis ni Panot! hahaha!

sa buong isang taon niya sa Malacanan parang puro blame game at pang-aasunto lang ata ang nagawa niya.

economic woes are much more worse and more long-lasting to be left neglected. what's his economic team doing? PPP has just been blasted, I don't see any project affecting poor Philippine economic performance for even 2012. he's showing his incompetence with every single headline he makes. and add to it the SENSATIONALIST MEDIA we have here. sheesh, making a good tandem and sorry to Philippine economy.

s40

December 7th, 2011, 12:31 AM

amigo32

December 7th, 2011, 01:10 AM

por dat, mas tumaas lalo ang popularity rating nya sa SWS survey binalita lang kagabi.

Stupid!:nuts:

skyion

December 7th, 2011, 01:39 AM

por dat, mas tumaas lalo ang popularity rating nya sa SWS survey binalita lang kagabi.

Stupid!:nuts:

yung SWStik ng kamaga-anak Inc. at KKK ba, ano naman yung sa False Asia

syempre gawin nila yan, anlaki ba naman ng P384 Billion narcopolitics (as exposed by USDEA) funding na sinuhol para manalo at pabanguhin ang banal na Yellow puppet nila.

dapat pagbutihin din ng Yellow administration ang paging spokesperson ng mga drug mules sa China, kasama sa funding yan.

Askal82

December 7th, 2011, 01:56 AM

Easier said than done. If you see a giant poster with the ugly face of the politician and you demand to have it remove then just wait and you'll either received a death threat via fone call/ text or a visit from his body guard. Philippines is still in a semi feudal state. 3G still rules in this country specially in the country side. Whats 3G you ask? Its guns, goons and gold.

Well, whose fault was that? The people who simply accept the way things are and are contentedly entertained during the election or those erring officials they elected?

diz

December 7th, 2011, 01:59 AM

Aquino blames unstable judiciary for poor economy
Published : Wednesday, December 07, 2011 00:00
Article Views : 73
Written by : Jaime Pilapil, Reporter

http://www.manilatimes.net/index.php/news/top-stories/12723-aquino-blames-unstable-judiciary-for-poor-economy

omg :rofl:

Askal82

December 7th, 2011, 02:18 AM

mao rong

December 7th, 2011, 02:32 AM

Officialdmcileasing

December 7th, 2011, 02:34 AM

Sleepwalker

December 7th, 2011, 03:08 AM

I just hope, PNoy won't blame those who voted him for putting him in a position they know he cannot fulfill.

I just hope, he won't blame his parents for giving him his life.

I just hope he stop blaming others.

I have hope.

LuckyLady

December 7th, 2011, 03:08 AM

s40

December 7th, 2011, 03:59 AM

PNOY is perfect..........therefore he blames everyone else except himself.........

TRUE LEADERSHIP men!!!!

KnightOfTheFlag

December 7th, 2011, 04:09 AM

h-fdvR330-U

Sleepwalker

December 7th, 2011, 04:35 AM

PNOY is perfect..........therefore he blames everyone else except himself.........

TRUE LEADERSHIP men!!!!

Democratic Republic of the Philippines led by Dear Leader PNoy... :D

skyion

December 7th, 2011, 04:36 AM

^^kabobohan!!!...sorry mods pero talagang retarded si noy.no wonder mag close sila ni joshua.

close din sa yelllowtards.

NOVO ECIJANO

December 7th, 2011, 04:51 AM

Bosnyboy

December 7th, 2011, 07:28 AM

Well, whose fault was that? The people who simply accept the way things are and are contentedly entertained during the election or those erring officials they elected?

The problem lies in our culture. If we want to change, we should begin looking at our culture. It takes too long to elaborate. Whatever solution they come up with in addressing the corruption problem in our country will not work unless we change our ways. Yung attitude natin, yung way of thinking, certain beliefs, reasoning dapat magbago.

Bosnyboy

December 7th, 2011, 07:33 AM

^^^^^^Somehow, DTI, FPI and PCCI are doing something to come up with a concrete industry plan that will spur industries and manufacturing in the country---considered as the main drivers of growth.:cheers::cheers:

Industries and mfg will not be viable in the philippines anymore. electricity cost is the highest in asia, labor cost isnt the cheapest anymore saka maraming tamad. Marami pa yung laging nag iisip ng baluktot. Plus the overly militant movement in our country deters any investor wishing to setup a mfg company. Kaya if you will notice most foreign mfg companies have transfer to other nation coz its cheaper and peaceful. They closed their mfg plants here and just set up a trading post, importing the goods they once make here and just sell them in the market. Mas advantageous sa kanila yun, much much less headache, less labor cost too.

Eastern Dragon

December 7th, 2011, 10:33 AM

what a bunch of genius you guys are.

hanep din ang manila times, iba sinabi ng presidente, iba naging headline.

what the president said was just a reiteration of what foreign companies have been saying, about the flip flopping decisions ng SC and its impact on the economy.

then equated by manila times as aquino blaming SC for the slow GDP this year?

huh??? nagbabasa ba kayo?

RonnieR

December 7th, 2011, 10:34 AM

@PCCI

take for example MINING.. matagal nang na identify yan to be the next boom in the Philippines.. so far ano na????

so far.. these are just mere words in paper..

one more thing, it's just sad, that the private sector has to always remind the government or do the "government's job"... kelan ba magkukusa ang gobyerno?
kung hinde pa kikilos ang private sector, walang mangyayari...

Kudos for PCCI for stepping up..
also to PEZA .. it seems they're the only one who's actually working and effective at the same time.

the government should target to put more special economic zones to other Philippine provinces. Specially on Manufacturing and AGRO-INDUSTRIAL Imagine the impact on it.

here's an image of the current economic zones in the country. from the PEZA website
Notice that IT parks lead the numbers with 157 sites..
Manufacturing only comes in second with only 64 sites..
agro industrial with a disappointing 15 sites only...

Manufacturing sector really needs a strong push. Agricultural investments seem to be not a priority. They are too much focused on their target of rice self sufficiency by 2013.

On Mining, the government missed their target of US$1.2 Billion investments by US$ 244 M. There is an Investment on-hold worth US$5 Billion Tampakan Copper project, estimated to be the biggest in Asia for this type of minerals. I hope the national government will resolve the issue with the LGU.

2010

"Investments in the local mining sector fell about $244 million short of the government’s target last year due to delays in various projects, the Mines and Geosciences Bureau (MGB) said late last week.

"We missed our target due to Didipio, Pujada, Nonoc, Intex, and partly from (sic) Siana and Taganito...projects," MGB Director Leo L. Jasareno told reporters via text late Friday.

Specifically, some $955.85 million worth of investments came in, against a $1.2-billion target for the year."

http://www.abs-cbnnews.com/business/02/06/11/mining-investments-miss-target-2010-mgb-chief

Industries and mfg will not be viable in the philippines anymore. electricity cost is the highest in asia, labor cost isnt the cheapest anymore saka maraming tamad. Marami pa yung laging nag iisip ng baluktot. Plus the overly militant movement in our country deters any investor wishing to setup a mfg company. Kaya if you will notice most foreign mfg companies have transfer to other nation coz its cheaper and peaceful. They closed their mfg plants here and just set up a trading post, importing the goods they once make here and just sell them in the market. Mas advantageous sa kanila yun, much much less headache, less labor cost too.

Manufacturing industry contributes 30% to our GDP. While I agree with your statement on high electricity cost plus the high labor cost compare to our neighbors, there are still new locators particularly to our Freeport zones mainly due to tax incentives. The foreign investors are attracted to PH owing to the availability of skilled, flexible and easy to trained Filipino workers.

The big industries are dominated by the production of cement, glass, chemicals products and fertilizers, iron, steel, food and refined oil products. Most if not all of these companies are reporting profits. Splash Manufacturing which is into beauty/cosmetics products reported billions of pesos of Revenues and a profit, just to cite an example. Texas Instruments, Toshiba, Nestle, Fujitsu, Unilever, Yokohama, Keppel, among others continue to have a confidence to this country.

I know that we can't really turn the tide and go back to that golden era but there is still hope. Imagine, the Mercedes Benz assembly plant was put up in the Philippines in 1960s! but at present, these premium cars are all imported. For that long the Filipinos knew about luxury but what a sad turn of fate.

Lawmakers score poverty dip via ‘statistical magic’ :ohno:

By Gil C. Cabacungan Jr.
Philippine Daily Inquirer
2:54 am | Tuesday, December 6th, 2011

Lawmakers are pushing for a more realistic yardstick for counting the number of poor Filipinos after the government lowered the minimum daily subsistence level from P52 to P46 per person, a move that significantly lowered the country’s poverty incidence.

Kabataan Representative Raymond V. Palatino on Monday scored the National Statistical Coordination Board (NSCB) for adopting a new poverty threshold level which he said “deceptively” led to a reduction in the poverty rate from 26.3 percent to 20.9 percent.

http://newsinfo.inquirer.net/105955/lawmakers-score-poverty-dip-via-%E2%80%98statistical-magic%E2%80%99

I'm not here to defend GMA but just to be objective. With the new threshold ( debatable), PH poverty level is now 20% or 1/5 of the population. It used to be 26% or 1/4 of the population.

No window-dressing of poverty data: NEDA
abs-cbnNEWS.com
Posted at 12/07/2011 2:11 PM | Updated as of 12/07/2011 2:24 PM

MANILA, Philippines (UPDATE) - The National Economic Development Authority (NEDA) denied the government intentionally lowered the threshold level for poverty to make it appear that fewer Filipinos are poor.

This was in response to Kabataan party-list Rep. Raymond Palatino's filing of a House resolution seeking a probe into the National Statistical Coordination Board's move to lower the minimum daily subsistence level from P52 to P46.

NEDA Director-General Cayetano Paderanga on Wednesday said government merely revised the poverty measurement to factor in lower food prices in the provinces.

He added the revision was made during the Arroyo administration, not the current administration.

http://www.abs-cbnnews.com/business/12/07/11/no-window-dressing-poverty-data-neda

s40

December 7th, 2011, 10:45 AM

^^ after 17 months in office, this is what the President says.... QUOTED PA YAN HA

“Adversely, an economic environment that does not have a level playing field will not see [an improved economy] as possible but we are saying that in about an hour’s time I am meeting with the economic team and one of the questions that we will get is how, we are in transition from before, the money of government or the public’s money was being spent, so now the purpose of prudent spending, change in culture that could not happen overnight,” he said

ayos ano ginawa buong 17 months.............................?? Perfection men!!

s40

December 7th, 2011, 10:47 AM

tama yung isang forumer "THE ONE" hahahaha God save us from this incompetent leadership

"in about an hours time, i will be meeting with economic managers and one of the questions is....... blah blah blah excuse excuse excuse..." Tanginang yan........................... what a joke............ you did not ask that fucking question 17 months ago????? proud pa ang puta

Winners never make excuses... clearly we have a loser in that palace

RonnieR

December 7th, 2011, 10:58 AM

^^ You're right. I also don't appreciate the President's message about prudent spending but why prolong this? At the most, Budget department can do it for 6 months, people would understand but for more than a year, then something is wrong and it is odd.

In previous years, there were so many plans but lack of funds deterred the realization. Now, from banks, local and foreign investors and even the government can provide the funds but actual implementation is slow. That Connector Road alone, a vital project in the capital that would link SLEX and NLEX tollways have two Indonesian investors - Citra and Metro Pacific (Salim), willing to fund the construction, right of way and even the inflation! Yet, to date, the government says it is still UNDER REVIEW!

Where is the Finance Secretary?

wolfram74

December 7th, 2011, 01:26 PM

s40

December 7th, 2011, 01:36 PM

Philippine growth forecasts slashed anew by ADB (http://www.bworldonline.com/content.php?section=TopStory&title=Philippine-growth-forecasts-slashed-anew-by-ADB&id=42859)

THE ASIAN Development Bank (ADB) now expects the Philippine economy to grow by just 3.7% this year as it trimmed forecasts for many emerging Asian economies amid unresolved crises in the United States and the euro zone.

The Manila-based multilateral lender’s latest Asian Economic Monitor showed a one-percentage-point cut in the outlook for Philippine gross domestic product (GDP) from September’s 4.7%. In April, the ADB forecast 5% growth for 2011.

GDP grew by a record 7.6% last year.

...

ang laki na talaga ng kasalanan ng Korte Suprema. :lol::lol:

:lol: gagong korte suprema yan!!!:lol::lol: trabaho ng executive napunta sa judicial GALING!!!

dancethingy

December 7th, 2011, 01:49 PM

I remember this time last year when I and several forumers started airing concern about the slowdown in activity in the infrastructure forums and how that was a negative foreboding of things to come.

It is with great regret to realize that foreboding. Nothing is getting done.

Recent statements made by the President clearly shows that he is in agreement with his economic team. They are ideoligically on the same boat so its only logical for us to expect that no one will be replaced anytime soon among his economic team.

Question now is, how far will he take his stubborness and start to compromise? Does he even know how to compromise?

tama yung isang forumer "THE ONE" hahahaha God save us from this incompetent leadership

"in about an hours time, i will be meeting with economic managers and one of the questions is....... blah blah blah excuse excuse excuse..." Tanginang yan........................... what a joke............ you did not ask that fucking question 17 months ago????? proud pa ang puta

Winners never make excuses... clearly we have a loser in that palace

^^ You're right. I also don't appreciate the President's message about prudent spending but why prolong this? At the most, Budget department can do it for 6 months, people would understand but for more than a year, then something is wrong and it is odd.

In previous years, there were so many plans but lack of funds deterred the realization. Now, from banks, local and foreign investors and even the government can provide the funds but actual implementation is slow. That Connector Road alone, a vital project in the capital that would link SLEX and NLEX tollways have two Indonesian investors - Citra and Metro Pacific (Salim), willing to fund the construction, right of way and even the inflation! Yet, to date, the government says it is still UNDER REVIEW!

Where is the Finance Secretary?

s40

December 7th, 2011, 02:11 PM

^^ dance - my assessment, Pnoy is a moron and will not do squat..... too bad for all of us?

i hope i'm wrong

scamingue

December 7th, 2011, 03:02 PM

Philippine growth forecasts slashed anew by ADB (http://www.bworldonline.com/content.php?section=TopStory&title=Philippine-growth-forecasts-slashed-anew-by-ADB&id=42859)

THE ASIAN Development Bank (ADB) now expects the Philippine economy to grow by just 3.7% this year as it trimmed forecasts for many emerging Asian economies amid unresolved crises in the United States and the euro zone.

The Manila-based multilateral lender’s latest Asian Economic Monitor showed a one-percentage-point cut in the outlook for Philippine gross domestic product (GDP) from September’s 4.7%. In April, the ADB forecast 5% growth for 2011.

GDP grew by a record 7.6% last year.

...

ang laki na talaga ng kasalanan ng Korte Suprema. :lol::lol:

^^ Dahil sa low-base year effect yan. If mataas ang level last year at i-compute mo ang growth this year from last year, natural na liliit ang growth this year. Global financial crisis ang dahilan ng pagbaba ng ekonomiya, hindi si Pinoy. Ang laki naman ata ng expectation nga mga tao sa 17months... Haay:ohno::ohno:

coldfire083

December 7th, 2011, 03:36 PM

^^:ohno::ohno::bash::bash:

s40

December 7th, 2011, 04:01 PM

Parchie

December 7th, 2011, 04:26 PM

^^:ohno::ohno::bash::bash:
Bakit pailing-iling ka dyan? At sino ba ang pinupukpok mo? AAAAAHHHHEEEE.

RonnieR

December 7th, 2011, 05:29 PM

I remember this time last year when I and several forumers started airing concern about the slowdown in activity in the infrastructure forums and how that was a negative foreboding of things to come.

It is with great regret to realize that foreboding. Nothing is getting done.

Recent statements made by the President clearly shows that he is in agreement with his economic team. They are ideoligically on the same boat so its only logical for us to expect that no one will be replaced anytime soon among his economic team.

Question now is, how far will he take his stubborness and start to compromise? Does he even know how to compromise?

I remember I posted something in relation to his slogan, "Kung Walang Korup, Walang Mahirap". I commented that it might lead to no projects at all since he stated in one of interviews during the campaign period that he will not tolerate corruption at all. Now, the economic team has been harping on fiscal prudence and conservatism on their release of funds that resulted to under spending.

I am still searching for logical reasons on why they continue to adhere to fiscal prudence even if they knew that the GDP growth would suffer??? Secretary Purisima was recognized by IFC World Bank as the Asian Finance Minister for 2010 and that speaks of his credentials and performance but he is not talking so much.

With P. Noy's overzealous anti-corruption program, including his utmost desire not to be tainted with corruption, we will continue to have this kind of leadership during his term. I hope I am wrong.

RonnieR

December 7th, 2011, 05:37 PM

End of November 2011 GIR, US$ 76.3 Billion. Another GIR record for this year since one more month to go. It shows that PH economy is healthy. Our GIR is higher than the country's debt, among other factors.

BSP overshoots reserves forecast
BY JIMMY C. CALAPATI

THE Bangko Sentral ng Pilipinas got a little surprise when it saw its preliminary estimates of gross international reserves slightly overshot by $300 million.

By November this year, the GIR is already beyond the whole-year forecast of $76 billion, reaching $76.3 billion.

This is also $500 million higher than the end-October level of $75.8 billion.

BSP Gov. Amando Tetangco said that the increase stemmed from the income from earnings of investments abroad, foreign exchange operations, and the foreign currency deposits by banks and the national government, as well as revaluation gains from the central bank’s gold holdings.

Tetangco said the inflows were partially offset, however, by payments of debts of the national government and the BSP.

Of the total GIR, $66.2 billion came from foreign investments while $8.058 billion came from BSP’s gold holdings.

As of end-June this year, Philippine external debt that had been approved/registered by the BSP stood at $61.4 billion

http://www.malaya.com.ph/dec08/busi1.html

wino

December 7th, 2011, 05:45 PM

^^ I just hope that none of the $66.2 billion is invested anywhere in European Securities.....

KnightOfTheFlag

December 7th, 2011, 06:21 PM

^^ Dahil sa low-base year effect yan. If mataas ang level last year at i-compute mo ang growth this year from last year, natural na liliit ang growth this year. Global financial crisis ang dahilan ng pagbaba ng ekonomiya, hindi si Pinoy. Ang laki naman ata ng expectation nga mga tao sa 17months... Haay:ohno::ohno:

Anak ng boogey naman isa pa to!!...HINDI KASALANAN NI PNOY??!! GLOBAL FINANCIAL CRISIS!!??...heto pagmasdan mo at intindihin hah at paki tanggal ang yellow muta mo sa mata...

3Q GDP Among ASEAN...Who are ALSO AFFECTED BY GLOBAL FINANCIAL CRISIS TODAY
Indonesia 6.5%
Vietnam 6.1%
Singapore 6.1%
Malaysia 5.8%
Thailand 3.5%
Philippines 3.2%:wallbash::fiddle:

3rd quarter growth at 3.2%
Number Don't Lie
By ANDREW JAMES MASIGAN
December 5, 2011, 4:07am
Falling further behind

I am deeply alarmed by the slow pace of economic development. Those who try to save face claim that the slowdown is a worldwide phenomenon brought about by the financial crisis in Europe. This theory is dispelled, however, by the stellar performance of our ASEAN neighbors. For the third quarter, Indonesia’s economy expanded by 6.5 percent, Vietnam by 6.1 percent, Singapore by 6.1 percent, Malaysia by 5.8 percent and Thailand, the country ravaged by month-long floods, grew by 3.5 percent. It is so unfortunate that the Philippines finds itself at the bottom of the heap again. After all, we are all operating under the same inhospitable environment.

http://www.mb.com.ph/articles/343678...rter-growth-32

Anong BS ang pinagsasabi mong global financial crisis eh samantalang lahat ng ASEAN apektado at Thailand miski binaha ng matagal ang Bangkok at Industrial Estate nila eh naka rebound pa at mas mataas pa sa atin...excuses, excuses, excuses, excuses,....Blame, Blame, Blame, Blame, :ohno::bash::ohno::bash::ohno::bash:...
Bottom line THERE IS NO EXCUSE FOR THIS KIND OF MEDIOCRE AND DISMAL ECONOMIC NUMBERS!!

dessertfox

December 7th, 2011, 08:02 PM

Also I have brought here the issue of Laguna De Bay Dredging, dredging is just part of a bigger scope or just one so many items attached to the overall LLDA flagship program. This single item was a perfected contract which he cancelled with a very obvious political reason and mind you he mentioned technical aspect as their reason, that silt will just return back to bay floor after only 3 yeas. Pasig river was dredged in time running into 3 years already. Does silt returned in Pasig River now?

I checked again the LLDA website, what they did is just edit P-Noy's name into pages. Even the cost of dredging is still the same 18.5 billion.

Now Belgium had filed the case claiming damages worth 4 billion, and then they will award same 18.5 billion to the new contractor?

And then here we are conditioning the mind of people on a blame game to the Judiciary for weak economy since they are sure to loss like this dredging court case.

P-Noy is too cautious that this simple Dredging project he can't implement what more with those complicated contracts all over the country.

You could be right to expect nothing in his term since who among them will work to death if they will be expecting bundles of cases like what they are doing with the past admin. I have experienced working with government projects that moves only if there is something in return, sasabihin nga pa nga nang mga yan hindi naman sila mga bayani.

Of course corruption is a main issue to deal with but it could improve only along the economic aspect as well, say to increase the salary of government workers, to eliminate or lessen ang-lagay ba, contrary to their belt tightening program now.

P-Noy has one of the best economic team as what we expected before, I thought leadership and management style is the missing link, sabi noong hindi pa gaanong loaded sa trabaho walang nagawa si P-Noy ngayon pa kayang overloaded sa responsiblidad.

Tapos faction-faction ( Balay, Samar, KKKK at Oligarch ) pa ang mga interest groupings kaya kanya-kanyang silipan kaya lalong walang matapos na review.:ohno:

I remember I posted something in relation to his slogan, "Kung Walang Korup, Walang Mahirap". I commented that it might lead to no projects at all since he stated in one of interviews during the campaign period that he will not tolerate corruption at all. Now, the economic team has been harping on fiscal prudence and conservatism on their release of funds that resulted to under spending.

I am still searching for logical reasons on why they continue to adhere to fiscal prudence even if they knew that the GDP growth would suffer??? Secretary Purisima was recognized by IFC World Bank as the Asian Finance Minister for 2010 and that speaks of his credentials and performance but he is not talking so much.

With P. Noy's overzealous anti-corruption program, including his utmost desire not to be tainted with corruption, we will continue to have this kind of leadership during his term. I hope I am wrong.

El_Toro

December 8th, 2011, 05:02 AM

Buti pa un Pensions of the poor este CCT ang bilis ipatupad un PPP na yan kelan pa ba maapprove... Yung paghabol sa mga corrupt (Gloria) cherry on top nalang un ang kailangan ng taong bayan un progress na 2 taon na ndi parin ramdam, Kailangan nilang madaliin yan dhil sa patuloy na pagtaas ng poverty...tsk tsk tsk

kenken94

December 8th, 2011, 05:54 AM

^^ I just hope that none of the $66.2 billion is invested anywhere in European Securities.....

I assume most of it are on US and European securities. Because prior to the crisis, Europe was pretty much popular. Hope I'm wrong though. :ohno:

RonnieR

December 8th, 2011, 05:54 AM

coldfire083

December 8th, 2011, 05:58 AM

Bakit pailing-iling ka dyan? At sino ba ang pinupukpok mo? AAAAAHHHHEEEE.

Sa post palang nya kasi alam mo na na kahit magreply ka na na lahat lahat ng facts na ibigay mo ay hindi sya makikinig. :lol:

RonnieR

December 8th, 2011, 07:07 AM

HUAWEI FOR THE $790 MILLION GLOBE NETWORK EXPANSION

The Chinese are coming:cheers:

Remember the big fat contract that Globe Telecom had dangled to bidders for its network expansion a few months ago?

Well, the race has been decided. And the winner is … Huawei.

Yes, you heard it right. The giant telecommunications equipment manufacturer now holds the contract that Globe is banking its future on.

(The Ayala-controlled telco service provider recently announced that it would spend $790 million to boost its network over the next few years, and we understand Huawei will get a big slice of this pie.)

In fact, when this contract is completed, Globe’s network will run almost exclusively on Huawei equipment, which is known to be of equal quality to their Western counterparts, and also more “cost effective.”

But the other aspect of this story is what happened to the losing bidders.

It is widely known that multinational telco equipment suppliers operating in the Philippines maintain two sets of officers and staff—two country managers, two marketing teams, two operations teams—one for each rival telcos PLDT and Globe.

Globe’s decision to shift to “all Huawei” in the coming years means a significant number of officers and staff of these mainly European equipment makers will have to be “pink slipped.”

Despite this necessary pain, the development bodes well for the revitalized Globe, which is back in fighting form after languishing as a “strong second” in the industry for the last few years.

And before anyone goes knocking Huawei, remember that they’re now the biggest manufacturer of telco equipment in the world.—Daxim L. Lucas

http://business.inquirer.net/33939/biz-buzz-the-greg-domingo-%E2%80%98shakedown%E2%80%99

Askal82

December 8th, 2011, 07:15 AM

boypad

December 8th, 2011, 07:21 AM

^^ Now those mainland chinese will know all about our existing and future national security and regional defense plan since were using their equipment. The moment we talk about Spratly Is. they will be able to intercept all sensitive information just by a clicking an icon somewhere remotely in mainland china.

Follow this link to understand more
http://www.telecomasia.net/content/obama-ramps-chinese-vendor-scrutiny

Ady001

December 8th, 2011, 07:23 AM

^^ Baka mag-lilipat na ako ng ibang network if it comprises my security as well..

RonnieR

December 8th, 2011, 07:24 AM

^^ Quite scary dealing with the Chinese companies regarding the national security in the telecommunication infrastructure. If I remembered right, Sprint excluded Huawei and ZTE (http://www.nytimes.com/2010/08/23/business/global/23telecom.html) from their dealings in expanding their network.

^^ Now those mainland chinese will know all about our existing and future national security and regional defense plan since were using their equipment. The moment we talk about Spratly Is. they will be able to intercept all sensitive information just by a clicking an icon somewhere remotely in mainland china.

Follow this link to understand more
http://www.telecomasia.net/content/obama-ramps-chinese-vendor-scrutiny

Business is business. That's the most important. For sure, Globe and Singtel of Singapore have taken all considerations. Let's leave the political issues in Executive thread please.

RonnieR

December 8th, 2011, 07:26 AM

jpdm: I know that you are not so happy with Sec. Domingo owing to the delays in car program. I hope that we will soon have that approved for the sake of manufacturing car industry.

PH is back in international radar by investors. I hope PH can sustain the momentum. :)

Update: January to October 2011, P455.6 Billion or US$10.6 Billion

BOI, PEZA investments surge 35%
BY IRMA ISIP

INVESTMENT commitments registered with the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA) rose 35 percent in the first 10 months of the year despite troubles in the world economy, according to Trade Secretary Gregory L. Domingo.

In a chance interview, Domingo said combined investments of the two agencies had risen to P455.6 billion as of October from P336.5 billion in 2010.

BOI contributed P338.4 billion or 74 percent of total registrations, an increase of 42 percent from the P237.5 billion registered last year and surpassing the P320-billion revised investments target for the year by the agency.

http://www.malaya.com.ph/nov10/busi5.html

boypad

December 8th, 2011, 07:31 AM

Business is business. That's the most important. For sure, Globe and Singtel of Singapore have taken all considerations. Let's leave the political issues in Executive thread please.

^^ They are also ban in Australia and in Taiwan due to national security issue.

http://www.telecomasia.net/content/aust-probes-huaweis-links-pla-chinese-govt-report

Askal82

December 8th, 2011, 07:34 AM

Business is business. That's the most important. For sure, Globe and Singtel of Singapore have taken all considerations. Let's leave the political issues in Executive thread please.

Business is business if it's not going to compromise the national security.

Sabagay, China already hacked government sites before so they probably have all the sensitive information. Tapos may Wikileaks pa na kahit sino may access. :lol:

RonnieR

December 8th, 2011, 07:38 AM

^^ They are also ban in Australia and in Taiwan due to national security issue.

http://www.telecomasia.net/content/aust-probes-huaweis-links-pla-chinese-govt-report

Business is business if it's not going to compromise the national security.

Sabagay, China already hacked government sites before so they probably have all the sensitive information. Tapos may Wikileaks pa na kahit sino may access. :lol:

"To Be Rich is Glorious". I am a believer on this by Deng Xiaoping. You're talking to a wrong person, I guess. hehehe

Political comments should be in another thread.

boypad

December 8th, 2011, 07:40 AM

^^ It will a big issue for our local BPO industry if their American customer will find out that the equipment that which route their data is being compromise in terms of data interception. For what I know 70% of local BPO data traffic goes to US. DOTC & Congress should call for exploratory studies if this have possible effect with our local BPO industry. At this point in time with bad economy happening around the world we should protect our bread & butter industry.

More link to read:
http://www.manilastandardtoday.com/insideBusop.htm?f=2011/october/20/rayenano.isx&d=2011/october/20

Askal82

December 8th, 2011, 07:49 AM

^^ Yeupz, the NTC and DTI should really take a look into this possibility about compromises on the national security and the way it could affect the business. Not just call center industry since outsourcing is moving up the chain and that includes legal, accounting, medical and even IT-related services.

xxxriainxxx

December 8th, 2011, 08:15 AM

The project is cancelled. The P18.5 B refers to the old Belgian contract.

Anyway, feeling the pressure?:) The administration must have felt the criticisms from the mainstream media with regard to dismal GDP performance.

Gov’t rushes documents for 2 PPP projects
Daang Hari road, classroom venture of DepEd
By: Ronnel W. Domingo
Philippine Daily Inquirer
9:30 pm | Wednesday, December 7th, 2011

The Aquino administration is rushing to finalize documents for two public-private partnership (PPP) infrastructure projects as it tries hard to at least accomplish that within this year.

Economic Planning Secretary Cayetano W. Paderanga Jr. identified the two projects as the road that links Daang-Hari in Cavite and the Southern Luzon Expressway and a contract to build 10,000 classrooms for the Department of Education.

“We are trying hard to finalize the documents [for these projects] before the year ends,” Paderanga said. “That would pave the way for the bidding process.”

http://business.inquirer.net/34033/gov%E2%80%99t-rushes-documents-for-2-ppp-projects

:|

"To Be Rich is Glorious". I am a believer on this by Deng Xiaoping. You're talking to a wrong person, I guess. hehehe

Political comments should be in another thread.

And thaaat's why they would never sign a legally binding climate treaty. :|

boypad

December 8th, 2011, 08:26 AM

China’s growing influence :eek2:

BusinessMirror Philippines
Tuesday, 18 October 2011 20:30 Lito U. Gagni / Market Files

At any rate, aside from mining, China’s growing influence is similarly evident in the telecom sector, a sunshine industry, which is contributing much to the growth of the economy. A big China telecom firm, for instance, supplies much of the requirements of the local telecom industry. Big and small telcos use various equipment that the Chinese firm Huawei supplies them.

The cheap pricing is what makes China influential here. When it buys, it offers top prices, such as those for the magnetite iron ore or wet nickel. But when it sells, it offers the lowest prices, thus enabling it to corner the bulk of the needs of the telcos. This strategy is due in part to the Chinese government’s thrust to encourage exports or even loans. In fact, Chinese firms can each get government support that is equivalent to 5 percent of its investment cost, This is why Huawei is the preferred telco supplier. The danger here, though, is the issue of national security because the prevalence of just one telecom supplier could have serious implications.

Huawei has so far emerged as the largest IT solutions and telecom-equipment vendor in the country, accounting for the supply of mobile phones, modems, computers, network equipment, IT solutions and Internet devices used by Philippine Long Distance Telephone Co. (PLDT), Smart Communications, Globe Telecom, Bayan Telecommunications, Sky Internet, Wi-Tribe and Next Mobile. It has won numerous deals with local telcos by offering cheaper equipment and IT solutions. It has also deployed its own advanced Core Network Solutions in the country for support facility.

But what happens if the Shenzhen-based Huawei suddenly withholds critical telco equipment needed, by say, PLDT, for its operations. That would definitely jeopardize the firm and lead to serious security concerns. This was what probably prompted Taiwan’s National Communications Commission (NCC) to issue a ruling that requires telcos to secure an approval first from the NCC and the Investigation Bureau before they can use core network equipment supplied by Huawei.

A Google search also revealed that Huawei is also under suspicion in the United States, where it is accused of having ties with the Chinese military. In fact, the US Department of Commerce has apparently thumbed down a bid of the Chinese telco giant for the US so-called network of the first responders, such as the fire department, ambulance and police force. The anti-Huawei sentiment is because of security concerns, although the Chinese firm is protesting this. Here in the Philippines, perhaps the government should try to reduce the growing influence of Huawei in the telco sector by also looking into the supply contracts as telecom network is crucial, especially on sensitive matters. Pricing, after all, is different from national security.

http://www.businessmirror.com.ph/home/opinion/18122-chinas-growing-influence