DT_20190713
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
A4 COMMENTARY<br />
Saturday, 13 July 2019<br />
Daily Tribune<br />
Demonization<br />
overdrive<br />
“The<br />
stand of the<br />
administration<br />
of Rody is<br />
that the<br />
responsibility<br />
to protect<br />
starts with<br />
protecting<br />
the innocent<br />
against<br />
the vicious<br />
elements of<br />
society.<br />
Daily<br />
Tribune<br />
WITHOUT FEAR • WITHOUT FAVOR<br />
WITHOUT FEAR • WITHOUT FAVOR<br />
Chito Lozada<br />
Aldrin Cardona<br />
Dinah Ventura<br />
John Henry Dodson<br />
Roy Pelovello<br />
Larry Payawal<br />
Komfie Manalo<br />
Geraldine Datoy<br />
The shrill voices of the international detractors of President<br />
Rody Duterte, notwithstanding, public order had recorded huge<br />
strides particularly in the reduction of crime on the streets in<br />
the three year of his administration.<br />
According to the latest data of the Department of the Interior<br />
and Local Government (DILG), the crime volume from July 2018<br />
to June 2019 fell by 11 percent compared to the previous year<br />
mainly as a result of the government’s focus on public order.<br />
DILG secretary Eduardo Año attributed the improvement to<br />
“participatory governance” among the government, local agencies<br />
and ordinary citizens<br />
President Rody Duterte bombards listeners of<br />
his speech about the need for citizens to be<br />
assertive and alert while government have<br />
to respond quickly to calls for assistance.<br />
The basic tenets of Rody’s pursuits<br />
for a better life for Filipinos is based<br />
on the best way that he can<br />
achieve reforms within<br />
the limited term of six<br />
years. Such a philosophy<br />
have been lost to his<br />
international opponents<br />
who are fed with<br />
unproven conjectures.<br />
Another proof that<br />
the efforts of the<br />
administration had led to<br />
improved lives was the three<br />
notches gain in the country’s<br />
ranking in the 2019 Global Peace Index<br />
in which it placed 134th out of 163 countries,<br />
up three places from 137th.<br />
Through the maligned war on drugs, DILG<br />
records showed 12,099 barangays have been<br />
declared as “drug-free” while 1.3 million drug<br />
dependents have surrendered to the police.<br />
Año said those who yielded were given<br />
a second chance in life through the Balay<br />
Silangan Program and institutionalized the<br />
community-based drug rehabilitation program<br />
in all local governments which counter<br />
allegations of executions of those involved in<br />
the drugs menace.<br />
The UN Human Rights Council (UNHRC),<br />
in a close vote, adopted an Iceland-initiated<br />
resolution to initiate an international probe<br />
on the anti-narcotics campaign through 18<br />
votes in favor, 14 against and 15 abstentions.<br />
Department of Foreign Affairs secretary<br />
Teodoro Locsin Jr. questioned the validity of the UNHRC<br />
resolution since it was not universally adopted.<br />
“It does not represent the will of the Council, much less that<br />
of the developing countries who are always the target of such<br />
resolutions,” Foreign Affairs Secretary Teodoro Locsin, said in<br />
a statement.<br />
He noted that the usual detractors of<br />
“Through<br />
the maligned<br />
war on drugs,<br />
DILG records<br />
showed 12,099<br />
barangays have<br />
been declared<br />
as “drug-free”<br />
while 1.3<br />
million drug<br />
dependents have<br />
surrendered to<br />
Patricia Ramos<br />
Board Chair<br />
Willie Fernandez<br />
Publisher and President<br />
Executive Editor<br />
Managing Editor<br />
Associate Editor<br />
Digital Editor<br />
Central Desk Editor<br />
Central Desk<br />
Advertising<br />
and Marketing<br />
Rody, which are mostly European countries,<br />
pushed for the resolution to impose their<br />
arrogance on developing countries who must<br />
not stand up to them.<br />
The Iceland resolution was solely based<br />
on data provided by the political opponents<br />
of Rody who have concocted extrajudicial<br />
killings figures which were already debunked<br />
by official data and investigations conducted<br />
by Congress.<br />
Locsin described as politically partisan<br />
and one-sided the Iceland resolution,<br />
reiterating Manila’s position to reject it.<br />
“We will not accept a politically<br />
the police.<br />
partisan and one-sided resolution, so detached from the<br />
truth on the ground. It comes straight from the mouth of the<br />
Queen in Alice in Wonderland, ‘First the judgment, then the<br />
proof’,” he said.<br />
Fourteen nations voted against the resolution including<br />
Angola, Bahrain, Cameroon, Hungary, China, Cuba, Egypt,<br />
Eritrea, India, Iraq, Qatar, Saudi Arabia and Somalia.<br />
Japan, South Africa, Brazil and Pakistan abstained.<br />
“We renew our solidarity with our true friends who have stood<br />
by us in this farce. But we will not tolerate any form of disrespect<br />
or acts of bad faith. There will be consequences; far-reaching<br />
ones,” Locsin said.<br />
The UNHRC action boils down to the methods on the war on drugs<br />
which the European nations wanted changed so that addiction is<br />
treated as a health problem instead of a social menace.<br />
Such a shift is untenable for the country since it is expensive<br />
and would encourage syndicates to thrive.<br />
The stand of the administration of Rody is that the<br />
responsibility to protect starts with protecting the innocent<br />
against the vicious elements of society.<br />
Rody once said “Your concern is human rights, mine is human<br />
lives” which is a pretty straightforward and basic English but<br />
which his prejudiced faultfinders refused to understand.<br />
“The only<br />
reason<br />
why the<br />
president<br />
gave the<br />
suggestion<br />
is those<br />
vying for<br />
it went to<br />
him and<br />
sought<br />
his wise<br />
suggestion<br />
to settle<br />
the row<br />
between<br />
and<br />
among<br />
them.<br />
Apparently,<br />
the reported 18th<br />
Speaker, Alan Peter<br />
Cayetano, may not<br />
become the 18th<br />
Speaker after all — if<br />
a House vote called<br />
before the President’s<br />
State of the Nation<br />
Address rejects him.<br />
Presidential son,<br />
Davao City Rep. Paolo<br />
Duterte was said to<br />
have thrown broad<br />
hints that the speakership fight<br />
is far from over as it seems that<br />
Cayetano does not have the votes,<br />
and that one of three candidates<br />
for Speaker will be challenging the<br />
Duterte endorsed speaker.<br />
This message was the hint<br />
to House members in a sense a<br />
negative vote for Cayetano.<br />
The talk of a House coup of sorts<br />
is not quite an all-out coup, as a<br />
takeover by another candidate as<br />
it will reportedly be done through<br />
a congressional vote, which then<br />
would be done according to<br />
constitutional and House rules.<br />
And it does look like Cayetano<br />
may not even be speaker for<br />
a day, despite being President<br />
Duterte’s candidate for the top<br />
House post especially since the<br />
Palace the other day came out to<br />
state that the speakership depends<br />
on the members of the House<br />
FRONTLINE<br />
Ninez Cacho-Olivares<br />
The ambitious infrastructure<br />
development program of<br />
“While the government has spurred<br />
most of that unprecedented capital expansion<br />
stigma was initiatives from both the government<br />
due to the and the private sector. Government<br />
needs money, more money to build<br />
failure of<br />
those roads, ports, airports and<br />
the Aquino bridges which it hopes will not<br />
administration merely upgrade our crusted old<br />
to spend for infrastructure facilities enough to<br />
infrastructure attract foreign direct investments<br />
much (FDI) and produce real growth but<br />
required in the short run, likewise provide<br />
spending that is a principal driver of<br />
and needed<br />
GDP. Hopefully these catalyze true<br />
by FDI. and meaningful employment that<br />
leads to economic inclusivity.<br />
It’s a development roadmap that<br />
the previous administration did not<br />
only dismiss as it stole away credit<br />
from previous economic initiatives,<br />
but one sorely necessary given<br />
exclusivities of its growth rhetoric<br />
and the eventual hollowness of its<br />
promises.<br />
Seeing such government initiatives<br />
from the sidelines, the private sector<br />
has taken its cue. They’ve likewise<br />
been catalyzed to invest. And we<br />
are not only talking about the large<br />
business consortia that have come<br />
together to build airports and dams.<br />
There are quite a number of small<br />
time investors who buck the trend<br />
and have been bravely and boldly<br />
speculating on real property likely<br />
to increase in value once water,<br />
electricity and accessibility features<br />
are developed from government’s<br />
“Build, Build, Build” program.<br />
Local businessmen are naturally<br />
more approving of the government’s<br />
economic initiatives. They seem to be<br />
leading the way far in front of foreign<br />
equity investment. Note the sudden<br />
House coup?<br />
of Representatives to<br />
elect its own leaders.<br />
Moreover, Sal<br />
Panelo, Palace<br />
spokesman, in a press<br />
briefing made it clear<br />
that it is the members<br />
of the House who make<br />
the decision on their<br />
next speaker.<br />
“In the ultimate<br />
analysis, the vote on<br />
the speaker would<br />
lie on members of<br />
Congress. The only reason why<br />
the president gave the suggestion<br />
is those vying for it went to him<br />
and sought his wise suggestion to<br />
settle the row between and among<br />
them,” Panelo said.<br />
“He’s not interfering. They<br />
approached him so they granted<br />
their request. It’s up to them,”<br />
Panelo added.<br />
The Palace’s seeming turnaround<br />
on the issue may be traced to the<br />
congressional perception that<br />
Cayetano just doesn’t have the<br />
gravitas of a fourth successor to<br />
the presidency. And quite honesty,<br />
he fails to gain the respect of other<br />
members of Congress, as Cayetano<br />
is not only a divisive leader, as his<br />
days in the Senate serve as proof of<br />
not only his divisiveness but worse,<br />
his well-known penchant to accuse<br />
without proof, then needlessly<br />
destroys reputations of those he<br />
Deeper in Debt<br />
increase in credit lines<br />
opened by rural builders<br />
and contractors outside<br />
the metropolis.<br />
Unfortunately, there<br />
is a stigma carried<br />
over from the last<br />
administration with<br />
regard to attracting<br />
FDI. While most of that<br />
stigma was due to the<br />
failure of the Aquino<br />
administration to spend<br />
for infrastructure much<br />
required and needed by FDI’s,<br />
Duterte’s own infrastructure program<br />
has been delayed by a number<br />
of snags the most notorious of<br />
which was the just-concluded budget<br />
impasse created by openly vicious<br />
disputes on congress’s pork barrel<br />
insatiability and our congressmen’s<br />
underlying propensity for greed and<br />
corruption.<br />
These FDI<br />
stigma and the<br />
unnecessary delays<br />
in fund drawdowns<br />
and expenditures<br />
caused by dirty<br />
rotten partisan<br />
politics at the House<br />
of Representatives<br />
impact on an<br />
investor’s choice of<br />
sources for capital<br />
expansion and<br />
investments.<br />
“Local<br />
businessmen<br />
are<br />
naturally<br />
more<br />
approving<br />
of the<br />
government’s<br />
economic<br />
initiatives.<br />
Risk mitigation has become a<br />
more important factor than it would<br />
normally be had not the delays and<br />
political volatility been present and<br />
continuing. Investment horizons<br />
for equity are shorter and greater<br />
internal rates of return are expected<br />
when risks margins are included<br />
wants destroyed to aggrandize<br />
himself.<br />
On a congressional vote — and<br />
if one other candidate that has the<br />
majority votes in his pocket — whoever<br />
are still with Cayetano in their<br />
belief that he is the presidential<br />
anointed — will make a U-turn and<br />
dump Cayetano, instead give their vote<br />
to whoever has the numbers — and<br />
whichever committee leaders have<br />
the promised choice committees in<br />
the bag — should the other candidate<br />
get the majority vote.<br />
“Even<br />
Cayetano<br />
knows he<br />
doesn’t have<br />
the majority<br />
of the<br />
congressional<br />
vote.<br />
BYSTANDER<br />
Dean de la Paz<br />
As the<br />
presidential son<br />
stated: “There is<br />
still an election on<br />
22 July and I am<br />
more interested<br />
in that on who<br />
will win because<br />
there are reports<br />
that someone is<br />
planning to launch<br />
a coup that day. It seems that the<br />
fight is not yet over for the three<br />
candidates and their supporters.”<br />
It should be fairly easy for the<br />
House majority with a challenge<br />
to junk the speakership bid of<br />
Cayetano, given that he has the<br />
least votes in the House, and he<br />
knows it, which is why he rushed<br />
to Malacañang and cried for help<br />
from President Duterte.<br />
He did not even have the votes<br />
to become the vice president in<br />
the electoral battle in 2016, and<br />
even as Duterte’s vice presidential<br />
bet. And he hasn’t even shown<br />
strong leadership qualities, which<br />
may mean that he can’t get the<br />
programs of Duterte going.<br />
If one of two other candidates<br />
for the Speakership get together,<br />
they certainly can get their<br />
supporters in the House to jointly<br />
vote for the strongest candidate<br />
between the two contenders to<br />
end Cayetano’s bid, as he has the<br />
least supporters, should it come<br />
to a vote for him as speaker in a<br />
few weeks.<br />
The way it really looks, even<br />
Cayetano knows he doesn’t have<br />
the majority of the congressional<br />
vote, which is the reason he ran to<br />
get Duterte’s open endorsement,<br />
which may not work for his bid on<br />
House election day.<br />
Still, if some House members<br />
toe what they think is the<br />
presidential line, the supporters<br />
of the two other candidates,<br />
Lord Allan Velasco and Martin<br />
Romualdez don’t vote for<br />
Cayetano and vote for one of two<br />
bets, Cayetano will not win the<br />
vote for the speakership, which<br />
is Cayetano’s just desserts.<br />
But if the majority of<br />
congressmen toeing the presidential<br />
line give their vote obediently to<br />
Cayetano, a repeat of another<br />
congressional coup may yet further<br />
cut short Cayetano’s<br />
speakership — if he<br />
ever gets it.<br />
in discounting future<br />
cash flows. Added to the<br />
tendency toward risk<br />
sharing these altogether<br />
compel those with<br />
expansion plans into<br />
debt financing more<br />
than the equity route.<br />
Such debt bias<br />
is noticeable and<br />
measurable, manifested<br />
especially in recent<br />
months.<br />
At the start of the<br />
year our total outstanding debt<br />
rose to a new high of P7.494 trillion.<br />
Domestic debt, which accounts<br />
for nearly two-thirds of the total<br />
outstanding amount, increased 2.8<br />
percent month-on-month in January<br />
and 10.8 percent year-on-year to P4.91<br />
trillion.<br />
The increase in locally sourced<br />
debt is due to the net issuance of<br />
government securities which, other<br />
than fund government’s programs also<br />
offsets the downward valuation of<br />
onshore dollar bonds brought about by<br />
the fluctuations of the peso. The latter<br />
was evident when the peso appreciated<br />
slightly over the dollar recently.<br />
From the start of the year through<br />
to the end of the last quarter, even as<br />
domestic debt remained at two-thirds<br />
of outstanding, its absolute amounts<br />
grew even where the peso eventually<br />
depreciated. Domestic debt from P4.91<br />
trillion in January is now P5.26 trillion.<br />
This total includes an additional P50.95<br />
billion secured through Treasury<br />
bills and bonds. All told, at the end<br />
of 2019’s first semester total debts<br />
effectively rose by as much as 8.5<br />
percent compared to the end-2018 level.<br />
Count the money. We are indeed<br />
deeper in debt.<br />
Published daily by the Daily Tribune Publishing Co., with offices at 3450 Concept Bldg., Florida Street, Makati City • Editorial: (02) 831-0496 • Administration: dailytribune@tribune.net.ph, (02) 833-7085 / (02) 551-5148. To advertise and subscribe: ads@tribune.net.ph, dailytribune@tribune.net.ph, (02) 833-7085 / (02)<br />
551-5148. To submit an opinion article, email opinion@tribune.net.ph. To submit a letter to the editor, email: letters@tribune.net.ph • News: news@tribune.net.ph • Metro: metro@tribune.net.ph • Lifestyle: lifestyle@tribune.net.ph • Business: biz@tribune.net.ph • Sports: sports@tribune.net.ph • PR: pr@tribune.net.ph.