HOME PAGE ABOUT US CONTACT US SUBSCRIBE ADVERTISE ARCHIVES
TOP STORIES NATION ECONOMY COMPANIES SHIPPING OPINION PERSPECTIVE LIFE SPORTS BANKING
SEARCH ENGINE
WWWOur Site
Anchored by Jonathan dela Cruz, Salvador Escudero, Boying Remulla, Teddy Boy Locsin and Alvin Capino
Monday to Friday
8:00pm-10:00pm

ARTICLE SERVICES
  • bookmark this page
  • print this article
  • view archive
  •  

    JFC’s grilling; SBMA’s haul

    Those who are suggesting that the grilling of the officials of the Joint Foreign Chambers of Commerce (JFC) at the Senate on Friday was an “overkill” are more interested in pleasing members of that lobby group and their cohorts, in and out of government, than seriously searching for ways to lower the unconscionable cost of our electric rates, which is now second only to Japan, the world’s second-biggest economy.

    They should be exposed for what they are—bottom kissers for the most rapacious group of predators in business suits this country has been tolerating for years on end.

    By advocating for a full and unabridged implementation of the flawed Electric Power Industry Reform Act (Epira) to avoid “sending the wrong signals to investors,” these guys are playing into the hands of these operators who simply want to fry us over in our own lard as many times as they please, probably until hell freezes over. We cannot and should not allow that to happen any longer.

    That Senate grilling was necessary to put these guys on notice that their open, naked and contemptuous interference in our affairs will no longer be tolerated. It is time to tell them that the public has seen through the flawed and dangerous messages they are trying to purvey with their increasingly aggressive letter-writing.

    As Sens. Juan Ponce Enrile, Miriam Defensor Santiago and Joker Arroyo correctly pointed out, their kind of sly posturings will not be taken kindly even in their own countries, so why should they be allowed to do that kind of thing in the Philippines, even as they have been afforded the “hospitality of the house,” so to speak, for such a long, long time?

    Just in case the appeasers in our midst lost the point in this latest uproar over foreign interference in our domestic affairs, they should be directed to the text and call-in messages which most radio shows got that fateful Friday after news of the tongue-lashing at the Senate was broadcast.

    The public was almost unanimous in applauding the Senate action, especially after Senator Enrile asked the JFC officials to name the “legislators making unwarranted accusations before the President,” which they failed to do.

    It would appear that the JFC got too protective of the profits their sponsors, both local and foreign, entrenched in the cozy and secretive power-industry club were getting from the questionable “take-or-pay” and other burdensome provisions the power purchase agreements (PPAs) entered into with the independent power producers (IPPs). Same with the unexplained “system losses” and “pass-ons” which they had long endorsed but which have been found to be unfair and burdensome to the consuming public that they forgot their manners and their thought processes altogether.

    The public’s beef, if we may call it such, is simple: a) why insist on implementing a flawed law in the guise of letting its full flowering come to pass, and b) why endorse the quick and untrammeled privatization of government assets in a critical sector, such as power on so-called antimonopoly grounds, while endorsing the kind of quasimonopolies like Meralco and First Holdings and, to a certain extent, Veco, Davao Light and Aboitiz Power?

    Indeed, the intense public debate over Manila Electric Co. (Meralco) and, yes, the Lopezes’ practices and views on the power industry brought about by the corporate battle in Meralco, has brought to closer public scrutiny the many flaws and unwholesome practices which have stood in the way of lower electric rates.

    It has exposed the cartelized greed and the washed-out justifications employed by the big powers in the industry to burden the public even more. Sadly, it has also confirmed the capture of the regulatory process by these same players, which can only be corrected by amending the law and opening up the entire process to even greater scrutiny.

    By issuing that belated appeal for the government to stop the clock, as it were, despite the burdens on everyone, including their members, the JFC guys merely confirmed they have become part of the entire problem and not a solution at all. To them and their cohorts, we can only say: Tama na, sobra na!

    SBMA’S haul

    Speaking of tama na (enough), it is well that Subic Bay Metropolitan Administration (SBMA) management together, with the residential Antismuggling Group (PASG) and Philippine Drug Enforcement Agency (Pdea) has acted with dispatch in hunting Anthony “Anton” Ang and closing his company, Hualong International, after intercepting that multibillion-peso shabu shipment which Ang and company tried to sneak out through the free port.

    We are told that if not for that chance flag-down by operatives of the SBMA Task Force Bukas Kotse of a Mitsubishi Outlander at the Riviera pier within the Ship Repair Facility (SRF) compound, the whole shipment would have been readily transported out of Subic into the waiting arms of drug addicts all over the country.

    It appears that the van was waiting for some “boxes” which were later found to be shabu being transferred from a Taiwanese vessel, F/B Shun Fa Shing, which were declared as “sensitive computer parts” even as the vessel was issued an inward manifest by the Bureau of Customs in Subic as “nil cargo” (without any cargo).

    That was the inconsistency the operatives used to pounce on the van and the vessel (Is it still under SBMA hold-order?) after the occupants tried to resist any scrutiny. That indiscretion led to the discovery of additional boxes in the Hualong warehouse and in other parked vehicles within the free port presumably used by Ang and company to disperse the shabu haul.

    That these shabu shipments—the latest just two days ago—have been intercepted is good news indeed. The question—and this is something which SBMA CEO Armand Arreza, PASG, Customs and Pdea have to answer—is: Has Ang been in the business since he registered Hualong and subleased that warehouse for the “transhipment, importing, exporting, warehousing and cargo consolidation of cigarettes and liquor” in 2003?

    There are reports that Ang has been mixing his legitimate operations with shabu trading three years ago after successfully working his way through the free port’s rigid procedures for two years. He has managed to keep “clean” in the first two years and then ventured into the shadowy world of shabu trading at the time the SBMA was enmeshed in other controversies, including the intense intramurals among its officials.

    For, apart from the grave misuse of SBMA facilities and loss of revenues in the process, these kinds of practices put the entire free-port system under a cloud. That kind of negative workout should be of concern not only to the SBMA but to other free ports or special economic zones, including those being supervised by the Philippine Export Zone Authority, as the enterprises in these areas have, as a matter of course, been given more leeway in the conduct of their businesses. It is clear that intense monitoring and audit of their activities and the operations within these areas are in order.    

    Tet’s audit

    Since we are in the business of auditing and generating more revenues for the government, Malacañang and the Department of Finance should probably take a second look at the suggestions earlier issued by then-representative, now Bataan Gov. Enrique “Tet” Garcia  Jr. on how to precisely do so in many simple ways.

    One such way which has earned the government billions of pesos was the immediate posting of Bureau of Internal Revenue (BIR), Bureau of Customs (BOC) and other payments due the government being coursed through the banking system under the account of these agencies by the simple adding of a column in the daily reporting forms of all banks and financial units.

    That daily posting immediately put a stop to the notorious practice of the syndicates intercepting the payments, with the help of corrupt bank employees, and the runners of the paying enterprises themselves through the expedient of opening ghost accounts side by side those maintained by the BIR, BOC and other government units, which were used to drain the unposted amounts on a regular basis.

    There are a number of other ways to improve revenue collection which Tet Garcia has been trying to get the government to look into.

    These include a review of the value-added tax system as compared with the specific-tax mode, an honest-to-goodness audit of the books of the oil and power companies and the reconciliation and improvement of tax powers of local government units (LGUs) with national government initiatives to avoid duplication and burdensome workouts.

    He also has some ideas on how government-owned and -controlled corporations and the newly found LGU enterprise centers can best be harnessed to enhance productivity, increase incomes and provide better and more affordable public services.

    If Finance Secretary Gary Teves and his boys will find time soon to exchange notes with Garcia on these and other matters of mutual concern, the public may well have another bonanza to look forward to. 

    OTHER STORIES
    Editorial: The nuclear option 

    SHOULD we go nuclear?

    Energy Secretary Angelo Reyes raised that possibility on Saturday when he said the government is studying the option, including the opening of the mothballed Bataan Nuclear Power Plant (BNPP)—if it is still viable—to boost the country’s energy supply.

    read more

    Through the Looking Glass: Customs’ prosecutorial powers

    When we last looked at the Bureau of Customs (BOC), while we admired its extraordinary successes in running after smugglers through a USAID-funded campaign, we lamented that its prosecutorial powers were severely constrained by a dysfunctional structure the bureau had, over the years, developed under.

    read more

    Personal Finance: God’s economy in uncertain times

    I’ve attended so many financial seminars in my two decades in the financial services. From the now-defunct PCI Bank’s famed Core Credit Program to American College’s LUTC, APLIC, financial-planning courses, conferences, Registered Financial Planners, etc. Too many, if you ask me.

    read more

    The Entrepreneur: A test for the Philippine economy

    THE economic slowdown should serve as a test of our capability to surmount the difficulties facing us these days.

    I am referring to the not-so-good news that our economic growth—as expressed in terms of gross domestic product (GDP), or simply the total value of goods and services we produce, excluding income from abroad—had slowed down to 5.2 percent in the first three months of 2008, compared with 6.9 percent in the first quarter of 2007.

    read more

    Coast-to-Coast: JFC’s grilling; SBMA’s haul

    Those who are suggesting that the grilling of the officials of the Joint Foreign Chambers of Commerce (JFC) at the Senate on Friday was an “overkill” are more interested in pleasing members of that lobby group and their cohorts, in and out of government, than seriously searching for ways to lower the unconscionable cost of our electric rates, which is now second only to Japan, the world’s second-biggest economy.

    read more

    Reflections from the Mirror: The Filipino, together forever for peace

    Happy Independence Day, Philippines! Long live the nation and the President!

    This early, a group of Filipinos belonging to the Left-wing organizations, like Bayan, whose cells operate in the United States, are already finalizing plans for holding rallies and protests against President Arroyo when she visits that country for talks with President Bush. They call it a meeting of a colonial master and a puppet.

    read more