03 MARCH 2019

Sunday, 3 March 2019
Daily Tribune
PAGE THREE
Media stunt
by Colmenares,
says Palace
By Elmer N. Manuel and Kristina Maralit
Malacañang on Saturday dismissed
the allegations of former Bayan Muna
representative and senatorial aspirant
Neri Colmenares on the Philippines’ loan
agreements with China, as nothing more
than for media mileage.
Presidential spokesman Salvador Panelo
said Colmenares is merely politicizing
the country’s loan agreement with China
particularly the one intended for irrigation
project in the Cordillera region.
“It is clear that the matter has been
studied at length by our economic managers,
particularly the Department of Finance,
unlike Mr. Colmenares who has only shown
himself to be ignorant of the intricacies
of finance and immature with political
pettiness,” Panelo said.
The project was approved and
reviewed by government agencies.
“Mr. Colmenares is just desperately
seeking media mileage by unduly
compartmentalizing the loan agreements
of the country without the benefit of context
and by maliciously labeling it as a China
issue,” he added.
Colmenares has claimed the Philippines
has entered into an alleged disadvantageous
loan agreement with China for the irrigation
project, saying the “loan agreement for
the Chico River Pump Irrigation Project is
onerous and highly favors China.”
“It is a disaster for the Philippines,” said
Colmenares, who obtained a copy of the document
from a non-government organization.
According to Panelo, the project was
approved and reviewed by government
agencies.
“For the information of Mr. Colmenares,
the Philippines and China signed a $62.09
million agreement last year to help fund
the construction of the Chico River Pump
Irrigation Project, which will provide a stable
supply of water to around 8,700 hectares
of agricultural land, benefit 4,350 farmers
and their families and serve 21 barangays
in the provinces of Kalinga and Cagayan in
Northern Luzon once completed,” Panelo
said.
A suspected communist guerilla
was killed during a clash between
New People’s Army insurgents and
joint police and military elements
in Oriental Mindoro early Saturday
morning.
The firefight erupted at
about 4:45 a.m. in Barangay
Waygan in Mansalay town.
According to initial reports, the
firefight erupted at about 4:45 a.m. in
Barangay Waygan in Mansalay town.
Police officials confirmed the death
By Vernadeth de los Santos
Police reported on Saturday that
six people were killed while nine
others were injured after a V-hire
van collided with a cargo truck in
Barangay Mayabon, Zamboanguita
town in Negros Oriental on Friday
morning.
The casualties — mostly students
from Basay National High School in
“The aforesaid project
has gone through
an Investment
Coordinating
Committee approval
and the loan agreement was
reviewed, negotiated and approved
by the Interagency Committee composed of
the Department of Justice, the Department
of Finance (DoF) and the Bangko Sentral ng
Pilipinas (BSP),” he added.
The Presidential spokesman added
that based on the report of the DoF, China
provided a list of three contractors of good
standing and the implementing agency was
given the opportunity to vet and request for
a replacement, if needed.
He also stressed that the Monetary
Board approved the terms under the loan
agreement for the Chico River Project before
and after signing the agreement.
“On the concessional interest rate,
according to the DoF, if we account for all
salient factors and not just the nominal rate
(e.g., project cost, denomination of loan and
foreign exchange depreciation risk), the
effective interest rates between the recently
signed Japanese and Chinese loan agreements
are actually quite close to each other. With
regard to the interest rate, on the other hand,
our Chinese loans are fixed and not subject
to change over time,” Panelo said.
“For each loan agreement, the DoF
mentions that an arbitration clause is
negotiated. We negotiate to make sure that
the arbitration mechanism protects our
interests. Contrary to what others believe,
project debt to China is but a fraction of our
project debt to Japan. By 2022, project debt
to China is estimated to be at around 4.5
percent of the total debt, while that of Japan
will be at around 9.5 percent,” he added.
With this, Panelo hopes that the “left-leaning
opposition” would perform staff work as the loan
agreement underwent study and review by the DoF.
“We hope the political and left-leaning
opposition would exercise completed staff
work before issuing statements,” Panelo said.
“We find it pitiful that candidate Neri
Colmenares is politicizing our bilateral relations
with China in aid of his senatorial bid by uttering
financial nonsense at the altar of politics,” he
added.
of the NPA cadre, when soldiers and
police in the Mimaropa region began
conducting clearing operations right
after the clash.
Meanwhile, about 20 Communist
Party of the Philippines-New People’s
Army (CPP-NPA) gunmen set fire to
heavy equipment being used in the
construction of a concrete road and
bridge in Barangay Agani, Alcala,
Cagayan.
In a report by the Philippine
Army, the gunmen, who belonged
to the CPP-NPA’s Northern Front,
set fire to three cement mixers,
southern Negros Oriental — were on
their way home from Cebu City after
participating in the Department of
Education’s (DepEd) regional Math
Sayaw dance competition there.
The students who died in the
accident were identified as 17-year-old
sisters Cherry Rose and Cherry Ann
Kadusale, 14-year-old Kevin Aguilar,
17-year-old Christian Buenconsejo and
18-year-old Joshua Busmeon.
Another yet unidentified woman from
Bayawan City was also killed in the accident.
Initial investigation from
Zamboanguita Police showed that
the V-Hire, driven by a JP Sarad, was
allegedly speeding southward along
the Negros South Road early Friday
morning when it started swerving,
By Kathleen Mae Bulquerin
The Philippine Navy on Friday welcomed its new Chief
of Naval Staff Commodore Louemer Bernabe in a simple
change of command ceremony graced by Vice Admiral
Robert Empedrad, Flag Officer in Command
Bernabe replaced Admiral Erick Kagaoan who will now
serve as the new Commander of Naval Forces in Western
Mindanao.
The new Chief of Naval Staff is from Cabanatuan City,
Nueva Ecija. He graduated from the Philippine Military
Academy and is a member of Hinirang Class of 1987.
Empedrad, during his speech, hailed
Kagaoan and thanked him for what he
had done during his stint as the Chief
of Naval Staff.
“I have nothing but praise for his
passion to serve the Philippine
Rebel killed in Mindoro clash
a compactor, a grader, and a
dump truck which was owned by
the Tuguegarao City-based Camia
Construction Company.
Locals reported the attack to
authorities, prompting the 5th Infantry
“Star” Division to make a hot pursuit
of the communist gunmen.
“We condemn this criminal act
committed by the NPA terrorists
against the people of Cagayan. The
burning of the heavy equipment affects
the livelihood of innocent civilians and
delays the delivery of development
projects to those in need,” said 5ID
reportedly due to the slippery road
brought by rain.
Upon seeing the van losing control,
cargo truck driver Elpidio Delos Santos
tried to stop to avoid the incoming
V-hire which was already skidding
down the opposite lane. As a result, the
V-hire’s right side was severely damaged
due to its impact with the truck.
All the passengers were brought to
two hospitals in Dumaguete City for
treatment, but six of them were already
pronounced dead on arrival.
Case investigator Police Master
Sergeant Janice Eluna said the accident
may have been caused by the V-Hire’s
worn rear tires that lost traction with
the wet slippery road, a factor that
Sarad acknowledged.
Commander Brig. Gen. Perfecto
Rimando Jr.
In another development, troops
under the Eastern Mindanao Command
(Eastmincom) recovered firearms
buried by the New People’s Army,
after two former rebels tipped off
their locations in Davao del Norte and
Agusan del Norte.
Col. Ezra Balagtey, Eastmincom
spokesman, said that soldiers
belonging to the 56th Infantry Battalion
recovered four high-powered firearms
in Barangay Dagohoy, Talaingod, Davao
del Norte.
ENManuel
CANDIDATES in this year’s midterm polls ought to focus on the issue of poverty exemplified by these children who wade through tons of trash in a Baseco
shoreline in Tondo in hopes of finding something valuable to sell.
BOB DUNGO JR.
All the passengers were
brought to two hospitals
in Dumaguete City for
treatment, but six of them
were already pronounced
dead on arrival.
Negros vehicle collision claims six
ONE of the early signs of summer is this scene in Pililla, Rizal where motorists stop to check out some local souvenir items
being sold along the roadside.
ROMAN PROSPERO
Navy welcomes new chief
Navy in another capacity. I told him thanks which I believe
is not enough to express my gratitude for all his excellent
service as the Chief of Naval Staff.
Likewise, the Flag Officer in Command expressed
his confidence in working together with Bernabe.
“I have high respects for you
and I am looking at you highly
because of your potential and
capability to lead the office
of CNS,” Empedrad said.
THE clenched fist sign says it all as a hospital patient meets former Cabinet official “Bong” Go who is running for a Senate seat.
Comelec
releases partylist
nominees
By Raymart T. Lolo
THE wrecked V-hire van carrying the victims of the collision.
In a bid to enhance transparency
in the electoral process, the
Commission on Elections
(Comelec) on Saturday released
the official partylist nominees
for
the sake of those voting in this year’s midterm
polls
Jimenez underscored how the list remains as
a significant reference for the voting public.
The list includes 181 names of partylist
nominees bidding for seats in the House of
Representatives.
According to Comelec spokesman James Jimenez,
the release of the names of partylist nominees was
effected to enable voters to make an informed choice.
“While the Comelec maintains that, in a partylist
elections, it is the partylist organization as a
whole that should be evaluated by the electorate,
it cannot be denied that the identities of the
nominees remain a significant reference for
voters,” he said.
Jimenez underscored how the list remain as
a significant reference for the voting public.
The national and local midterm polls are scheduled
on 13 May this year.