Latest news with #DOF
Barnama
4 days ago
- General
- Barnama
DOF Drawing Up New Regulations To Control Release Of Invasive Fish Species
KUALA LUMPUR, May 31 (Bernama) -- The Department of Fisheries (DOF) will draft new regulations to strengthen control activities of fish release into public waters. It announced the move today following complaints regarding the release of African catfish (Clarias gariepinus) into Malaysia Agro Exposition Park Serdang (MAEPS) Lake in conjunction with a fishing competition organised by the Malaysian Agricultural Research and Development Institute (MARDI) for the Showtech 2025 programme. According to the statement, after a site visit and engagement session involving DOF representatives, MARDI and the organising company yesterday, several mitigation measures were agreed upon. 'The fishing competition's secretariat will install additional hapa nets, provide bins to collect African catfish caught during the competition, and disseminate awareness material while carrying out fishing activities throughout the programme. 'MARDI will ensure compliance with the installation of nets, open the lake to controlled fishing activities, and coordinate the inventory and disposal of alien fish after the programme concludes. 'The Fisheries Department will also support this effort through the provision of awareness materials and related technical advisory services,' according to the statement. Regarding the release of the African catfish, the DOF said that investigations found that 2,000 kilogrammes (kg) of the fish species, estimated at 1,300 fish with an average weight of 1.5 kg each, were released into the lake on May 29, without any notification or request for advisory services from the Selangor Fisheries office. The DOF statement also advised all parties to always seek technical advice from the State Fisheries office before carrying out any fish release activities into public waters to avoid negative whiplash on the environment and the country's natural resources as an invasive species can eliminate native fish species. According to the DOF, the move is also to ensure that actions taken are in line with the principles of environmental sustainability, and do not pose a risk of invasive species to the local water ecosystem.
The Sun
28-05-2025
- General
- The Sun
DOF steps up dugong conservation to prevent extinction
PUTRAJAYA: The Department of Fisheries (DOF) is stepping up efforts to conserve dugongs, encompassing the protection of critical habitats, population monitoring, and cooperation with various parties including local communities. In a statement issued in conjunction with World Dugong Day today, DOF said that it continues to undertake integrated efforts towards the conservation of endangered marine species such as the dugong (Dugong dugon), which is now facing the risk of extinction. 'As herbivorous marine mammals that depend entirely on the seagrass ecosystem, the survival of dugongs reflects the health of the country's marine environment,' the department said. The dugong is the only surviving species in the family Dugongidae and is fully protected under Malaysian law, including Section 27 of the Fisheries Act 1985, the Fisheries (Control of Endangered Fish Species) (Amendment) Regulations 2019, and wildlife legislation in Sabah and Sarawak. This species is listed in Appendix I of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) and categorised as 'Vulnerable to Extinction' by the International Union for Conservation of Nature (IUCN), making conservation efforts an urgent necessity. DOF stated that among the latest conservation initiatives underway is the proposed gazettement of a Dugong Sanctuary in Johor, covering an area of 150,000 hectares. 'This gazettement is expected to strengthen the protection of critical habitats and support long-term research and monitoring,' the statement read. DOF said that dugong populations in Malaysia are concentrated in several areas such as the waters around Pulau Sibu, Pulau Tinggi, and Pulau Besar in Johor, as well as in Sabah and Sarawak. 'The primary habitat of dugongs is shallow seagrass areas, which are also important ecosystems for various other marine species such as seahorses, sea cucumbers, and juvenile fish. However, these areas are increasingly under threat due to coastal development, land reclamation, pollution, and unsustainable fishing activities,' the statement noted. According to DOF, in collaboration with Yayasan PETRONAS, it is currently carrying out seagrass distribution mapping nationwide, including assessments of the carbon stock of these habitats. 'Seagrass is not only crucial as the main food source for dugongs, but also plays a role in climate change mitigation through its carbon absorption capacity,' the statement added.
GMA Network
23-05-2025
- Business
- GMA Network
Econ team engages with civil groups to refine macroeconomic, DBCC process
The Marcos administration's economic team has engaged, for the first time, members of civil society organizations (CSOs) in a dialogue to refine the Development Budget Coordination Committee (DBCC) process. In a news release on Friday, the Department of Finance (DOF) said the DBCC —chaired by the Department of Budget and Management (DBM) and composed of the DOF, the Department of Economy, Planning and Development (DEPDev), and the Office of the President (OP), with the Bangko Sentral ng Pilipinas (BSP)— held a dialogue with 15 CSOs last May 21, 2025 to 'strengthen participatory governance and provide a platform for meaningful engagement between civil society and key policymakers.' The 'Macroeconomic Insights for National Action: An Economic Dialogue with Civil Society' —organized by the DBM in collaboration with its Budget Policy and Strategy (BPS) Group and the Philippine Open Government Partnership (PH-OGP)— was in line with President Ferdinand Marcos Jr.'s directive to make the DBCC process more transparent, inclusive, and reflective of the concerns of various stakeholders. The DBCC is primarily responsible for reviewing and approving the government's macroeconomic targets, revenue projections, borrowing levels, overall budget ceiling, and expenditure priorities. The body recommends to the Cabinet and the President the consolidated public sector financial position and the national fiscal program. The dialogue, during which CSOs share their feedback and policy recommendations, and explore diverse perspectives on emerging economic challenges, was paneled by Budget Secretary and DBCC chair Amenah Pangandaman together with DOF Undersecretary and chief economist Domini Velasquez, BSP Deputy Governor Zeno Abenoja, DBM principal economist and Undersecretary Joselito Basilio, and DBM Assistant Secretary Romeo Matthew Balanquit served as panelists during the event. The DOF said DBM Undersecretary Basilio opened the session with an overview of the DBCC's structure and processes. Budget chief Pangandaman, for her part, gave a keynote that underscored the significance of CSO engagement in the budget cycle and emphasized the administration's push for budget reforms that prioritize openness and accountability. DOF's Velasquez, meanwhile, highlighted the DOF's critical role in securing the financial backbone of the government, noting the challenge of raising P12.72 billion in daily revenues this year to fund the P6.352 trillion national budget—of which only P4.64 trillion is supported by revenue collections. Velasquez also said that the DOF is implementing a three-pronged strategy to boost revenue generation, namely strengthening tax administration, enacting key revenue reforms, and maximizing non-tax revenues through public-private partnerships (PPPs) and strategic privatization initiatives. The Finance official likewise reassured CSOs that the government is on track to bring the fiscal deficit down gradually to just 3.7% by 2028. On the BSP's side, Abenoja presented the latest macroeconomic assumptions and monetary policy developments amid the shifting global landscape. During the open forum, CSO participants raised timely and relevant points on tax policy, transparency in budgeting, digital transformation, and freedom of information, according to the DOF. The Finance Department said the CSOs' insights and recommendations will be thoroughly considered by the DBCC in crafting macroeconomic and fiscal strategies that genuinely reflect the needs and aspirations of the Filipino people. —AOL, GMA Integrated News
GMA Network
21-05-2025
- Business
- GMA Network
GOCCs remitted over P76B to state coffers as of May 15, 2025 — DOF
The dividend remittances from the earnings of government-owned or -controlled corporations (GOCCs) has reached over P76 billion as of May 15, 2025, the Department of Finance (DOF) said Wednesday. In a statement, the DOF said the amount was sourced from around 50 GOCCs — with about 13 state-owned firms contributing at least P1 billion each. Among the top contributor-GOCCs were the following: Landbank of the Philippines Philippine Amusement and Gaming Corporation Philippine Deposit Insurance Corporation Philippine Port Authority (PPA) Manila International Airport Authority (MIAA) Clark Development Corporation (CDC) Philippine National Oil Company (PNOC) Bases Conversion and Development Authority (BCDA) Philippine Charity Sweepstakes Office (PCSO) Subic Bay Metropolitan Authority (SBMA) Maharlika Investment Corporation (MIC) Philippine Economic Zone Authority (PEZA) Philippine Guarantee Corporation (PHILGUARANTEE) The Finance Department said the amount of GOCCs' dividend remittances are expected to exceed P100 billion by end of the year. The DOF said GOCC dividends are a major source of non-tax revenues for the national government to fund the administration's priority programs 'without the need to impose new taxes on the people.' 'I thank our hardworking GOCCs for their continued support to the national government and for heeding the President's call for an all-inclusive, whole-of-government approach in realizing the government's development plans that will benefit every Filipino,' said Finance Secretary Ralph Recto. 'These non-tax revenues allow us to support the government's expenditure program for the year, enabling the DOF to stay on track with its fiscal program and mobilize funds for our priority programs and projects,' added Recto. The Finance chief said the sustained increase in dividend remittances from state-owned firms 'shows that our GOCCs are continuously operating efficiently and generating substantial profits, enabling them to contribute more to the National Treasury.' Under Republic Act No. 7656 or the Dividend Law, GOCCs are required to remit at least 50% of their net earnings during the preceding year as dividends to the national government. To maximize non-tax revenue, the DOF said it has requested state-owned firms to increase this share to 75%. — RSJ, GMA Integrated News
Hi Dubai
19-05-2025
- Business
- Hi Dubai
Dubai Finance and DIFC Partner to Accelerate Cashless Transformation
Dubai Finance (DOF) and the Dubai International Financial Centre (DIFC) have signed a strategic agreement to drive forward the Dubai Cashless Strategy, marking a major step in the emirate's push towards a fully digital financial future. The Memorandum of Understanding (MoU), signed during the Dubai FinTech Summit in Madinat Jumeirah, focuses on three key pillars — Governance, Innovation, and Society. It aims to enhance collaboration on financial digitalisation, drawing on DIFC's position as the region's leading financial innovation hub. The signing was held in the presence of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Supreme Fiscal Committee. The agreement was formalised by Abdulrahman Saleh Al Saleh, Director-General of DOF, and Essa Kazim, Governor of DIFC. Al Saleh highlighted the partnership as a crucial move in aligning with Dubai's vision to become a global financial centre. 'This agreement accelerates our shift to a fully integrated digital financial system,' he said. 'Through this collaboration, we aim to foster innovation in digital payments and build a secure, adaptable ecosystem.' Essa Kazim noted the MoU supports the broader vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to position Dubai as a digital economy leader. 'DIFC will continue to provide an enabling environment for fintech growth and sustainable innovation,' he said. As part of the initiative, workshops, innovation programmes, and AI-driven projects will be launched to support the transition to a cashless society. The agreement also leverages the DIFC Innovation Hub to boost adoption of digital payment solutions across various sectors, including tourism and public services. News source: Emirates News Agency
