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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 />

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