Tag: government policy
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President Marcos Jr. Approves Tax Relief for Power Producers Under BOT Agreements
President Ferdinand R. Marcos Jr. has signed Executive Order 83, granting significant tax relief to Independent Power Producers (IPPs) involved in Build-Operate-Transfer (BOT) agreements with government entities. The order, signed on February 13, aims to alleviate the financial burden on IPPs by reducing and forgiving real property taxes (RPT) and associated penalties on their power…
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Finance Department to Guide DBP to Enhanced Financial Stability
MANILA – The Department of Finance (DOF) is set to take a more active role in guiding the Development Bank of the Philippines (DBP) towards greater financial stability, according to Finance Secretary Ralph Recto. The proposed changes to the DBP’s charter, recently passed in both houses of Congress, will enable the DOF to better support…
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Senator Demands Arrest of Filipinos Involved in POGO Scams
Senator Raffy Tulfo has voiced strong criticism against the current handling of raids on illegal Philippine Offshore Gaming Operators (POGOs), highlighting a perceived disparity in treatment between Filipino and foreign workers. During a Senate public hearing, Tulfo pointed out that while foreign nationals caught in POGO raids are detained and deported, Filipino workers receive government…
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Senator Urges Construction of Climate-Resilient Schools as a Must in Disaster-Prone Philippines
In the wake of Super Typhoon Egay’s devastating impact on Vigan City, Ilocos Sur, where floodwaters engulfed school buildings, Senator Sherwin Gatchalian has strongly advocated for the construction of climate-resilient educational facilities across the Philippines. Highlighting the urgency of the situation on February 6, 2025, Gatchalian stressed that such measures are essential, not optional, given…
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Philippine House Passes Bill to Revamp Development Bank’s Charter
The Philippine House of Representatives has given the green light to a bill that will redefine the charter of the Development Bank of the Philippines (DBP), aiming to bolster its position as the nation’s leading financial institution dedicated to development. The bill, known as House Bill 11230, was passed with a strong majority of 199…
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President Marcos Encourages Tesla to Establish EV Manufacturing in the Philippines
President Ferdinand R. Marcos Jr. has publicly encouraged Tesla to consider the Philippines as a potential hub for manufacturing electric vehicles (EVs). This call was made during the launch of the Tesla Center Philippines in Taguig City, where Marcos emphasized the environmental and economic benefits of Tesla’s presence in the country. He highlighted that Tesla’s…
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NPCC Considers Resolution to Enable DA’s Food Security Emergency Declaration
The National Price Coordinating Council (NPCC) is on the verge of passing a resolution that would empower the Department of Agriculture (DA) to declare a food security emergency due to soaring food prices, according to a trade official’s statement during a recent House of Representatives hearing. Cherryl Carbonell, the officer in charge at the Department…
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Negros Occidental Dismisses 16 Contract Workers After Positive Drug Tests
In a decisive move to maintain a drug-free environment, the Negros Occidental provincial government has terminated the employment of 16 contract workers who tested positive for illegal drugs in a mandatory random drug test conducted last month. Provincial Administrator Rayfrando Diaz II disclosed that the group comprised 10 contract of service and job order workers,…
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