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‘DON’T TOUCH YET ₱60-B PHILHEALTH FUND IN BTr’ www.businessmirror.com.ph
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Saturday, November 2, 2024 Vol. 20 No. 23
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CIVIL SOCIETY GROUPS CALL FOR ACCOUNTABILITY AND CAUTION ON PHILHEALTH FUND TRANSFERS AMID SUPREME COURT TRO
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By Cai U. Ordinario
EARLY a dozen civil society groups have called for prudence, asking authorities not to spend the P60-billion funds of the Philippine Health Insurance Corporation (PhilHealth) that were initially transferred to the national treasury before the Supreme Court issued a temporary restraining order (TRO). In a statement, they said that while the TRO on the transfer of unused PhilHealth funds to the National Treasury is a welcome development, the matter of its legality and constitutionality remains in question. “The TRO, we would like to believe, is an expression of the Su-
preme Court’s recognition that the transfer of PhilHealth funds would have led to grave injustice and irreparable injury without its intervention,” the groups said. “Despite this victory, the principal issue still has to be decided: the illegality and unconstitutionality of the transfer of GOCC [gov-
ernment-owned and -controlled corporation] funds, especially PhilHealth funds,” they added. The groups said the P89.9billion unused PhilHealth funds being questioned are premiums of members, and could have gone towards significantly reducing outof-pocket healthcare payments. This matter had been contested earlier by Department of Finance officials, who said the premiums of members are not included in the funds for transfer. The civil society groups insisted that unused funds belong to PhilHealth members, both direct and indirect contributors, and not to the national government. The groups noted that PhilHealth premiums are sourced from sin taxes, specifically tobacco taxes and sugar-sweetened beverage taxes, which should be exclusively used by PhilHealth to implement Universal Healthcare.
“Given the TRO, we call on the National Government to act with prudence and caution, and not to spend the P60 billion worth of PhilHealth funds already transferred,” the groups said. “The fund transfer, originating from the insertion into the budget of hundreds of billions for inefficient, wasteful, corruptionprone ‘pork-barrel’ projects and resulting in the defunding of hundreds of billions of pesos of regular economic and social programs, is grave abuse and is unconscionable,” they added. The groups also said all involved government entities, including PhilHealth, should be held accountable on the issue of the unused funds. PhilHealth must also undertake reforms in setting the standards for expanding benefits and healthcare provision, in efficiently, Continued on A2
PHL joins global alliance for Israel-Palestine 2-state solution By Malou TalosigBartolome
Emerging markets cap a turbulent month with losses before US vote
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MERGING-MARKET assets wrapped up a turbulent month as volatility surged in October with rising global yields, a stronger dollar, and investors rushing to reprice risk assets before the US election. The MSCI gauge for stocks slid for a third day, closing off October with monthly losses of more than 4 percent, the biggest drop since January. All major emerging-market currencies have retreated against the dollar this month, fueling a 1.6-percent decline for the MSCI
gauge for developing currencies. “We had a confluence of events in October,” said Rajeev De Mello, chief investment officer at Gama Asset Management. “For emerging markets, the combination of higher US yields, a stronger dollar, and the risks of a renewed trade war overshadowed the improvement in the growth picture.” On the day’s moves, MSCI’s gauge for emerging stocks slumped with global equities, as stocks erased their October gains after Continued on A2
2 FILIPINOS AFFECTED BY HISTORIC FLOODS IN SPAIN
In May, the Philippines supported the UN General Assembly resolution upgrading the Palestine rights as an observer state and urged the UNSC to consider Palestine’s full UN membership. Continued on A2
Continued on A2
“Both Israelis and Palestinians deserve to live in peace, harmony, and prosperity, and where their rights, aspirations, and security are recognized and upheld.”—Philippine Permanent Mission to the United Nations Minister Noel Novicio. PHOTO COURTESY OF DFA
PALESTINIAN children who fled with their parents from their houses in the Palestinian refugee camp of Ein el-Hilweh, gather in the backyard of an UNRWA school, in Sidon, Lebanon, September 12, 2023. AP/MOHAMMED ZAATARI
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LIMATE change has increasingly threatened the stability of communities worldwide, but many older Filipinos find themselves grappling with uncertainty about its effects on their lives and families. A recent survey by public opinion firm WR Numero revealed that 2 percent of Baby Boomers (born 1946-1964) and the Silent Generation (born before 1945), as well as 18 percent of Gen X respondents (born 19651980), reported being unsure about the negative impacts of climate change. This uncertainty among older generations raises questions about the effectiveness of climate-change communication and education efforts aimed at these demographics. In contrast, younger generations demonstrate a heightened awareness, with 79 percent of Millennials (born 1981-1996) and 78 percent of Gen Z (born after 1997) expressing concern about climate change effects. Regionally, 15 percent of South Luzon residents indicated that they are not concerned about climate change, the highest percentage compared to other regions. Meanwhile, Metro Manila residents reported the highest levels of climate anxiety, with more than 80 percent concerned about climate change. The concerns extend to other regions, with 74 percent of respondents worried about the implications of climate change in North-Central Luzon and the Visayas. According to the Philippine Climate Change Assessment, temperatures increased by approximately 0.16 °C per decade from 1951 to 2018, and rainfall in Metro Manila significantly rose. The frequency of Christmas typhoons has also surged by 210 percent since 2012. The WR Numero survey was conducted face-to-face with 1,765 Filipino adults aged 18 and older across the Philippines from March 12 to 24 this year.
AT least two Filipinos were affected by the castrophic flood in Spain that killed at least 158 people. The Philippine honorary consul in Valencia, Spain, said so far they have accounted for at least two Filipino nationals who reside in Torrente and Paiporta who were directly affected by the flood. “Both are fortunately safe,” the Honorary Consul Manuel Carrion Sanchez told the BusinessMirror. According to the Associated Press, the storm Tuesday followed by a tsunami caused flash flood and mudflow that ripped through eastern Spain, including in Valencia where there are Filipinos. Buildings and infrastructure were destroyed, while debris and cars were swept away and piled up in the streets like fallen dominoes. At least 158 died and many more are missing in what was called Spain’s deadliest natural disaster in living memory.
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HE Philippines will join the newly formed global alliance supporting the establishment of a Palestinian state under the two-state solution in a bid to find lasting peace in the Middle East. Philippine Permanent Mission to the United Nations Minister Noel Novicio announced that the Philippines will join the Global Alliance for the Implementation of the Two-State Solution during the United Nations Security Council Open Debate on October 29. “The Philippines supports the creation of the State of Palestine and its acceptance as a full member of the United Nations as soon as possible,” Novicio said.
NATALIIA MYSIK VIA DREAMSTIME.COM
By Bless Aubrey Ogerio
VEHICLES are strewn across railway tracks after floods on the outskirts of Valencia, Spain, November 1, 2024. AP/ALBERTO SAIZ
PESO EXCHANGE RATES n US 58.2540 n JAPAN 0.3800 n UK 75.5321 n HK 7.4955 n CHINA 8.1875 n SINGAPORE 44.0784 n AUSTRALIA 38.2845 n EU 63.2580 n KOREA 0.0423 n SAUDI ARABIA 15.5112 Source: BSP (October 31, 2024)