THE left-leaning fisherfolk alliance Pambansang Lakas ng Mamamalakaya ng Pilipinas (Pamalakaya) on Tuesday accused Japan of bribing the government through the P7.8-billion supplemental loan to finance the completion of the Subic-Clark-Tarlac Expressway (SCTEx) in exchange of the ratification of the Japan-Philippines Economic Partnership Agreement (Jpepa).

Pamalakaya national chairman Fernando Hicap said the supplemental loan granted by the Japanese government can be viewed as a “payoff” from Japan, to facilitate the approval of the economic pact.

“It is nothing but financial psywar aimed at conditioning the minds of the senators that Japan will give more to the Philippine economy if they just seal Jpepa on or before the end of this month. It is just grease money in the form of a loan,” Hicap said.

He said it seemed that Malacañang and pro-Jpepa senators in the Senate have agreed to a consensus to submit Jpepa for deliberation and ratify the economic pact within a week’s time or less.

“Malacañang and the Japanese corporate interests behind Jpepa want this agreement ratified [by the Senate] before the end of the month. They have set a timetable to operate, so protests must be intensified to counter this naked sellout of national sovereignty and patrimony,” Hicap added.

On top of the P7-billion loan for the construction of the SCTEx, Japan had earlier promised to grant the Philippine government some $173 million in loans from the Japan Bank for International Cooperation (JBIC).

The said amount, Hicap warned, is Japan’s “show money” and “financial statement” that all those who will go for Jpepa will reap juicy dividends and fat kickbacks from Japanese multinationals.

“That’s the message Japan wants to deliver in extending such a huge loan to the government,” Hicap asserted.

The Department of Foreign Affairs (DFA) recently announced that the Philippines and JBIC recently signed loan agreements amounting to $173 million, or about ¥18.4 billion, for the country’s agrarian-reform program and the rehabilitation of Mount Pinatubo eruption victims.  

According to the DFA, the agrarian-reform program will receive $108.61 million while the Pinatubo rehabilitation program will receive $65.5 million. These programs are covered by the 27th Yen Loan Package, which supports the Agrarian Reform Infrastructure Support Project (Arisp) I and II.

Under these programs, integrated package of support of services that include the building of small-sized irrigation facilities, farm-to-market roads and market-information centers, as well as providing trainers for farmers are covered.

Earlier, the DOF said the Philippines will lose P4.75 billion in revenues in 2008 if the Senate ratifies the pact.

Finance Undersecretary Gil Beltran said the Jpepa will result in forgone revenues ranging from P3.2 billion to P4.75 billion on the first year of the implementation. But the official said the benefits the country will gain from the Jpepa would be felt after the first year.

Beltran said the anticipated loss in revenue will be compensated later by the arrival of Japanese investments, employment generation and the taxes that will be raised from these economic activities.  

On the other hand, Trade Secretary Peter Favila said the government could lose P222 billion in expected investments from Japan over the next four years if Jpepa were not ratified. The Philippine Chamber of Commerce and Industry, a group of businessmen supportive of Jpepa said the country will lose benefits of nearly $1.5 billion in additional exports and up to 150,000 jobs if the agreement were rejected by Senate.

NFA men escort rice trucks to outlets

SPECULATIONS rose and grim images flashed, across Central Luzon, a major producer of the Philippine main staple, as government men escorted traders ferrying truckloads of National Food Authority (NFA) rice to their outlets. Rolling stores, described as a “quick response” solution to the rice shortage, were also readied.

THE Philippines’ approach to inflation “is quite impressive.” This accolade is from the World Bank (WB), which said the Bangko Sentral ng Pilipinas (BSP) has done a good job at managing the economy, deftly avoiding cost-push inflation no matter an externally driven peso liquidity surge.

THE National Democratic Front (NDF) said on Tuesday that it is willing to resume the stalled peace talks with the government and is not backing off, as claimed by a spokesman for the administration.

HONG KONG (via PLDT)—The Philippine government will ask Hong Kong labor officials to consider the possible reversion of the minimum wage for Filipino domestic helpers there to prerecession levels, President Arroyo said on Tuesday.

NOT contented with his plan to file before the Vatican a formal complaint against Archbishop Oscar Cruz of Lingayen-Dagupan for conduct unbecoming, a legislator wants the bishop criminally prosecuted and asked the people he “demonized” to seek redress before the courts.

THE left-leaning fisherfolk alliance Pambansang Lakas ng Mamamalakaya ng Pilipinas (Pamalakaya) on Tuesday accused Japan of bribing the government through the P7.8-billion supplemental loan to finance the completion of the Subic-Clark-Tarlac Expressway (SCTEx) in exchange of the ratification of the Japan-Philippines Economic Partnership Agreement (Jpepa).

CLARK FREE PORT—Officials of the Clark International Airport Corp. (Ciac) said emergency preparedness at the Diosdado Macapagal International Airport (Dmia) will contribute to the growth and development of the airport here.

ZAMBOANGA CITY—A bus driver thwarted a grenade attack on his bus on Monday, the local police reported.