Latest news with #P300
GMA Network
2 days ago
- GMA Network
Taxi drivers caught overcharging at NAIA terminals
The Philippine National Police Aviation Security Group (PNP-AVSEGROUP) apprehended taxi drivers who were engaging in contract-based fares, some of which were ten times more than the regular rate. According to Marisol Abdurahman's Thursday report on '24 Oras,' one of the 11 taxi drivers caught asked for a P300 fare to his passenger instead of using the taxi meter. His driver's license was taken, and he will undergo an investigation. 'True enough, napatunayan naming meron talagang contracting beyond dun sa standard dun sa supposed meter,' said Police Brigadier General Jason Capoy, AVSEGROUP director. (True enough, we have proven that there was contracting beyond the standard meter.) Those taxi drivers engaging in contracting may face revocation of their temporary operations permit from the Land Transportation Office. 'Once they will still do the same violation, subject for revocation of license and franchise po ito,' Capoy said. Based on its investigation, the AVSEGROUP said some taxi drivers sometimes asked for more than the usual fare, like the earlier report where the taxi fare from Ninoy Aquino International Airport (NAIA) Terminal 3 to Terminal 1 costs P1,200. The AVSEGROUP is also investigating the possible accomplices of the taxi drivers at NAIA. 'If find na may talagang nakikipag kuntaabahan at nakinabang, we will file the necessary administrative kung active pa sila or criminal case,' Capoy said. (If we find any accomplices, we will file an administrative case against them if they are still active, or a criminal case.) —Mariel Celine Serquiña/LDF, GMA Integrated News
GMA Network
09-06-2025
- Politics
- GMA Network
Senate approves anti-POGO bill on final reading
Senate Bill 2868, also known as the Anti-POGO Act of 2025, received 23 affirmative votes, zero negative votes, and zero abstentions. The Senate on Monday approved on third and final reading a bill on Philippine Offshore Gaming Operators (POGO) in the country. Senate Bill 2868, also known as the Anti-POGO Act of 2025, received 23 affirmative votes, zero negative votes, and zero abstentions. It was authored by Senators Sherwin Gatchalian, Bong Go, Raffy Tulfo, Pia Cayetano, Grace Poe, and Risa Hontiveros. The bill declared offshore gaming operations in the Philippines as unlawful. It was approved on second reading last June 4. Under the bill, violators may face imprisonment of not less than six years to up to 12 years and be fined at least P300,000. The bill also states that if the violator is a public official or employee, the maximum penalty will be imposed. In 2024, authorities discovered some POGO hubs engaging in human trafficking and physical and sexual abuse. This includes POGO hubs in Bambam, Tarlac, and Porac, Pampanga. This led to the arrest of dismissed Bamban, Tarlac Mayor Alice Guo, also identified as Guo Hua Ping, for alleged involvement in the illegal activities of a POGO hub in her town. –NB, GMA Integrated News
GMA Network
03-06-2025
- Business
- GMA Network
PH debt rises to new record P16.75 trillion as of end-April 2025
The Philippines' sovereign debt has increased to a fresh record-high as of end-April 2025 as the government continued its fundraising efforts to support budgetary requirements, data released by the Bureau of the Treasury (BTr) showed Tuesday. The national government's outstanding debt rose to P16.752 trillion, 0.41% higher than the P16.68-trillion debt stock recorded as of end-March. Despite the uptick, the Treasury said the government "continues to follow a disciplined debt strategy, ensuring that borrowings support productive investments while keeping fiscal sustainability." In an emailed commentary, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the increasing debt pile was consistent with the continued budget deficit in recent months, thereby fundamentally increasing the need for the national government to borrow more to finance the budget deficit. Nevertheless, the BTr said the state's "fiscal deficit has also been steadily narrowing and is on track to drop to about 3.8% by 2028." "With the economy continuing to grow faster compared to its obligations, the country remains firmly on track to reduce the debt-to-GDP ratio to below 60% by the end of the President's term," the Treasury added. The government's domestic debt amounted to P11.59 trillion during the period, up 1.85% month-on-month due to "the strong demand for government securities, including P300 billion in benchmark bonds." Ricafort also cited the P300-billion 10-year Treasury notes issued in the latter part of April 2025, which was meant to fund the fiscal deficit. The Treasury said the issuance of P300-billion notes "reflects the investors' sustained confidence in the government's fiscal program." "With economic fundamentals remaining sound, the country continues to enjoy strong market access at reasonable rates," it said. "The local currency's appreciation also reduced the peso value of dollar-denominated domestic securities by P3.85 billion," it added. External debt, meanwhile, declined by 2.68% to P5.16 trillion by end-April, "primarily due to the P124.74 billion decrease in the peso value of external debt owing to peso appreciation, combined with net repayments of P58.28 billion." As of end-April 2025, the Treasury said domestic debt continued to account for the majority of the total debt stock at 69.2% while foreign obligations comprised 30.8%. "This is in line with the national government's thrust to reduce exposure to external vulnerabilities," the BTr said. The Treasury, moreover, said the state's debt portfolio "remains resilient" as 91.7% of obligations carry fixed interest rates and 82% are classified as long-term. "This structure helps insulate public finances from abrupt changes in interest rates and the market environment," it said. — VDV, GMA Integrated News
GMA Network
31-05-2025
- Politics
- GMA Network
Tacloban mayor Romualdez seeks transparency in San Juanico Bridge repair project
Tacloban City Mayor Alfred Romualdez has called for full transparency and expert evaluation on the planned rehabilitation of the San Juanico Bridge, which links the islands of Samar and Leyte in Eastern Visayas. The Tacloban City Council declared a state of emergency on Thursday to expedite the mobilization of resources following the Department of Public Works and Highways' (DPWH) recommendation to limit use of the bridge due to safety concerns. 'So, to be quite frank, medyo nalilito rin ako (I am perplexed),' Romualdez said in a video statement. 'I feel the public should be given all the information pertaining to the condition of the bridge,' he added. He urged the national government to disclose the study that determined the bridge's current state and provide details on the extent of the damage and the timeline for repairs. 'This is not the first time,' he said, recalling a previous repair on the bridge 20 years ago that allowed for a six-month preparation period. Romualdez emphasized the need for independent experts to assess the bridge's condition and verify the cost of rehabilitation, which was initially estimated at P800 million but now stands at P7 billion. 'Even if you spend P7 billion, a feasibility study, a project study, and a careful analysis should have been made,' he said. He also warned against using the current crisis to justify the construction of another bridge without going through the right process. A recent assessment by the DPWH raised concerns about the bridge's structural integrity. As part of precautions, the DPWH has temporarily prohibited vehicles weighing more than three tons from crossing the 2.16-kilometer bridge. Since May 18, pedestrians have been prohibited from crossing the bridge on foot. Instead, they should use coasters and light vehicles for their safety. On Friday, the National Disaster Risk Reduction and Management Council (NDRRMC) said the restrictions on San Juanico Bridge could result in up to P600 million in monthly economic losses, as 14,000 vehicles cross the infrastructure daily. 'The abrupt imposition of restrictions has stranded more than 200 vehicles and is projected to result in monthly economic losses ranging from P300 million to P600 million,' the NDRRMC said. Among the affected sectors are food and fuel supply, delivery of healthcare services, commercial distribution, and regional trade. Aside from Tacloban City, Samar Province is under a state of emergency due to the bridge repair project. —VBL, GMA Integrated News
GMA Network
30-05-2025
- Business
- GMA Network
San Juanico Bridge rehab costs P7B, monthly loss at P600M —NDRRMC
Around P7 billion is needed for the repair and rehabilitation of San Juanico Bridge amid concerns on its structural integrity, the National Disaster Risk Reduction and Management Council (NDRRMC) said. 'The estimated cost of repair and rehabilitation by the DPWH amounts to P7 billion, and any delay in fund release would further escalate the crisis,' the NDRRMC said in a resolution dated May 25. According to the NDRRMC, the restrictions on San Juanico Bridge could result in up to P600 million monthly economic losses as 14,000 vehicles cross the infrastructure daily. 'The abrupt imposition of restrictions has stranded more than 200 vehicles and is projected to result in monthly economic losses ranging from P300 million and P600 million,' the NDRRMC said. Among the affected sectors are food and fuel supply, delivery of healthcare services, commercial distribution, and regional trade. State of calamity, state of emergency Due to this, the NDRRMC has recommended to President Ferdinand 'Bongbong' Marcos Jr. to declare a state of calamity in the entire region of Eastern Visayas. Currently, Tacloban City and Samar Province are under a state of emergency. Completed in 1972, San Juanico Bridge is the only permanent land link between the islands of Samar and Leyte. It is a vital artery of the Maharlika Highway that connects Luzon, Visayas, and Mindanao. A three-ton load limit has been imposed on San Juanico Bridge since May 15 after an assessment showed that there are significant structural compromises to the bridge. Only the middle portion of the bridge is open for motorists. This restriction halted the passage of heavy cargo vehicles, severely disrupting the transport of food, medicine, agricultural products, construction materials, and other essential commodities across the region. Green lane To ease the impact, Office of Civil Defense (OCD) spokesperson Chris Noel Bendijo on Friday said old ports and additional permits for landing craft tanks are being considered to ferry affected trucks. As the upcoming rainy season may limit the number of roll-on/roll-off (RORO) operations, Bendito said the agency is still looking into possible solutions. The OCD is planning to designate a 'green lane' for basic commodities on San Juanico Bridge. There is also a proposal to construct another bridge to have more alternative routes in the affected areas, according to the OCD spokesperson. 'Sa madaling salita po, lahat ng ating posibleng maging solusyon ay tinututukan po ng OCD (In short, all of possible solutions are being studied by the OCD),' Bendito said.—AOL, GMA Integrated News
