News Roundup 15 August 2023
Aug 15, 2023 • 3 min Read
House panel OKs bill proposing MUP pension reform | PHILSTAR.COM – MANILA, Philippines — A House ad hoc panel has approved after just one hearing a substitute bill proposing changes to the military and uniformed personnel pension system in a bid to address the fiscal strain from rising pension costs.
The House ad hoc committee on the MUP pension system greenlighted the measure on Tuesday after clinching the support of representatives from agencies under the Department of National Defense and the Department of Interior and Local Government, including the Armed Forces of the Philippines and the Philippine National Police.
Malacañang has tasked the Congress to look for a legislative fix to the problem of ballooning pension costs for MUP, which the government shoulders through budget appropriations. Without any reform, the government’s economic team has warned that pension payouts could hit the P1-trillion mark by 2035.
“We are pleased to report to the President and to the public that, today, we have formalized a solution to the MUP Pension problem. The members of the Ad Hoc Committee on the MUP Pension System have agreed in principle on an MUP Pension Reform that is amenable to both the military and uniformed services and to the economic managers,” Rep. Joey Salceda, chair of the House committee on ways and means, said in a statement.
Full Story at: House panel OKs bill proposing MUP pension reform | Philstar.com
China-Taiwan tension a ‘major concern’ for Philippines | PHILSTAR.COM – MANILA, Philippines — The Philippine government considers the escalating tensions in Taiwan Strait a “major concern” that could affect the country, according to a document published by the government.
The government said in its National Security Policy 2023 to 2028 that the Taiwan-China relations have the “potential to be the flashpoint in the region.”
“The Philippines is concerned about its economic stability, a potential influx of refugees, and the welfare of overseas populations,” the government said in the document.
“Any military conflict in the Taiwan Strait would inevitably affect the Philippines given the geographic proximity of Taiwan to the Philippine archipelago and the presence of over 150,000 Filipinos in Taiwan,” it added.
Full Story at: China-Taiwan tension a ‘major concern’ for Philippines | Philstar.com
BJMP: Ex-TV host Jay Sonza in QC jail after arrest for estafa, illegal recruitment | INQUIRER.NET – MANILA, Philippines — Former TV host Jay Sonza is being detained in the Quezon City Jail quarantine facility in Payatas after he was arrested for alleged estafa and syndicated and large-scale illegal recruitment, the Bureau of Jail Management and Penology (BJMP) said Tuesday.
BJMP spokesperson Jayrex Joseph Bustinera told INQUIRER.net they received Sonza from the National Bureau of Investigation (NBI) last August 3 and that government agents arrested him on July 18.
“BJMP has received in custody Jose Sonza last August 3, 2023, by virtue of Commitment Order issued by RTC (Regional Trial Court) Branch 100 Quezon City, for the case of estafa and syndicated and large-scale illegal recruitment,” Bustinera said.
“He was transferred by NBI Manila to Quezon City Jail-Ligtas Covid Center Quarantine Facility, in Payatas QC,” he added.
Senators raise concern about PH’s ballooning debt | INQUIRER.NET – MANILA, Philippines — Should Filipinos worry or panic over the country’s ballooning debt?
Senators raised this question on Tuesday as they scrutinized the proposed P5.768-trillion national budget for 2024.
By end of next year, the country’s debt is projected to climb to P15.8 trillion, National Treasurer Rosalia de Leon told the Senate committee on finance.
For 2024 alone, De Leon said the government needs to allot P1.9 trillion for debt service.
“How come the position is we should not worry about debts yet?” Senate Minority Leader Aquilino Pimentel III then asked.
“How come Filipinos should not worry about their ballooning debt na ballooning na rin yung principal and debt payments, and yet ballooning pa rin si total amount to be paid?” Pimentel asked again.
De Leon assured that the country’s debt is “very manageable” and “sustainable.”
Full Story at: Senators raise concern about PH’s ballooning debt | Inquirer News
