Govt-backed housing seen costlier By Justine Xyrah Garcia
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FAITH, FESTIVITY, AND A TOUCH OF HEAVEN On March 29, 2026, communities in Batangas and Metro Manila welcomed Holy Week with color, devotion, and joy. At Saint Joseph Parish Church, palm fronds (palaspas) were blessed during Mass, while a community thespian group in Barangay San Andres staged a “palaspas” procession along Parola Street, singing Hosanna as an actor portraying Jesus Christ was welcomed by supporters—a tradition marking the start of Holy Week, with Pabasa, Penitensya, and Cenaculo reflecting devotion and reflection. In Las Piñas City, children dressed as angels shared playful moments, symbolizing purity and joy during the festive Hosanahan reenactment of Jesus’ entry into Jerusalem. NONIE REYES, BERNARD TESTA & ROY DOMINGO
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HE price of governmentbacked socialized housing units may rise as the ongoing Middle East crisis drives up domestic costs, the Department of Human Settlements and Urban Development (DHSUD) said. In an exclusive interview with the BusinessMirror, Housing Senior Undersecretary Henry Yap said escalating geopolitical tensions—already pushing transport and logistics costs—could affect the pricing of subsidized housing units for sale or lease. At present, the price ceiling
for socialized housing is set at P950,000 for house-and-lot or horizontal developments and P1.8 million for condominium-type units. Rental rates, meanwhile, vary by location. In Quezon City, for instance, units are priced at around P800 per month, subject to periodic adjustments every three years as determined by the Local Housing Board (LHB). Yap said that during the Covid-19 pandemic, a study showed that housing prices increased as developers had to account for the additional costs they incurred while constructing houses during the
lockdown. “Today, I still do not know because the conflict has just started, so it will [have an impact], but the magnitude depends on what actions the developers will take in relation to the crisis,” he said, partly in Filipino. Although Yap acknowledged that construction material costs may also rise, he said these are typically precontracted, limiting immediate price pressures. He added that a more significant risk comes from potential wage increases in the sector, which could drive up housing prices. See “Housing,” A2
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Monday, March 30, 2026 Vol. 21 No. 169
P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK
By Malou Talosig-Bartolome
HE Philippines and China were at loggerheads over continued clashes in the South China Sea, as senior officials resumed bilateral dialogue in Quanzhou City, Fujian Province on March 27–28. While locked in sovereignty disputes over islands and maritime entitlements, both sides nonetheless explored avenues of cooperation, including energy stability amid tensions in the Middle East. The talks combined the 24th Foreign Ministry Consultations (FMC) and the 11th Bilateral Consultation Mechanism (BCM). The Philippine delegation was led by Foreign Affairs Undersecretary Leo M. Herrera-Lim, while the
Chinese side was headed by Vice Foreign Minister Sun Weidong.
Philippines raises safety concerns
THE Department of Foreign Affairs said, “Both sides held a candid See “Tackles,” A2
WITH RUSSIAN OIL BUY, PETRON INVENTORY TO LAST TILL JUNE By Lenie Lectura
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@llectura
ETRON Corporation has procured a total of 2.48 million barrels of crude oil sourced from Russia, boosting its inventory up to June this year. The new supply is not part of the oil firm’s business-as-usual sourcing strategy. The purchases were undertaken strictly out of extreme necessity as an extraordinary emergency measure in response to unprecedented geopolitical and supply-chain
disruptions and only after exhausting all commercially and operationally viable alternatives. “Acting out of extreme necessity and considering the abrupt cut in supply, the Corporation was thus constrained to procure Russian crude oil, which at that time was available and the only viable crude, to protect not only its interests as a company but, more importantly, the security and interests of the nation,” Petron said in a filing. When sought for comment, See “Russian oil,” A2
MEMBERS of the Philippine delegation led by Foreign Affairs Undersecretary Leo M. Herrera-Lim (fifth from left) are seen after the conduct of the 24th Foreign Ministry Consultations (FMC), combined with the 11th Bilateral Consultation Mechanism (BCM) this weekend in Beijing. The Chinese side was headed by Vice Foreign Minister Sun Weidong. The Philippine Department of Foreign Affairs said, “Both sides held a candid and productive exchange on bilateral concerns, including strategic, political-security and law enforcement issues.” PHOTO FROM DFA
DOJ: Other agencies may issue non-TPC perks to EVs By Joel R. San Juan
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@jrsanjuan1573
HE Department of Justice (DOJ) has held that concerned government agencies may provide other incentives other than a tax payment certificate (TPC) to promote the electric vehicle industry in the country. In a three-page legal opinion signed by acting Justice Secretary Fredderick Vida, the DOJ also pointed out that the EV incentive strategy (EVIS) under the Republic Act (RA) No. 11697, otherwise known as the “Electric Vehicle Industry Development Act” (EVIDA), does not compel the adoption of the incentive program under the Comprehensive Automotive Resurgence Strategy (CARS). “We are of the view that the EV incentive strategy under the EVIDA may use any legal incentive mechanism which may or may not include a TPC...Section 24 of the EVIDA only requires the EV incentive strategy be similar and not identi-
cal to the CARS program. As such, it is not required to use the exact TPC mechanism used by the CARS program,” the legal opinion stated. The DOJ issued the legal opinion upon the request of Dr. Ceferino S. Rodolfo, Board of Investments (BOI) Managing Head and Department of Trade and Industry Undersecretary for Industry Development and Investment Promotions Group. In his letter-request, Rodolfo sought the justice department’s legal position on whether the EVIS to be adopted under the EVIDA must mirror, or not, the CARS Program in its entirety. He noted that EVIDA only requires that the strategy be similar with the CARS program. The official also asked the DOJ whether the EVIS may provide incentives through any mechanism, including a tax credit certificate (TCC), instead of a TPC, which was used in the CARS program. The DOJ stressed that the EVIDA merely requires that the EVIS be “similar” to the CARS Program,
which means “without a resemblance without being identical” to the CARS program. “The EV incentive strategy needs to be customized to meet the three
goals set by the EVIDA. These goals are the same as the goals of the CARS Program,” the DOJ explained. See “DOJ,” A2
10,500 ADVOCATES CELEBRATE THE DOWN SYNDROME COMMUNITY AT LARGEST HAPPY WALK TO DATE Over 10,500 allies of the Down Syndrome community
from all over the country assembled for a record-breaking show of solidarity and empowerment at the 2026 Happy Walk in over 20 years of advocacy. Hosted annually by SM Cares and the Down Syndrome Association of the Philippines, Happy Walk empowers communities of advocates in shaping a world where everyone feels seen, valued, and welcomed. The celebration is the largest gathering for Down Syndrome advocacy in Asia and is SM’s culminating activation for World Down Syndrome Day in line with its pursuit of becoming a truly inclusive, most-loved Mall for All. SM SUPERMALLS
PESO EXCHANGE RATES n US 60.2150 n JAPAN 0.3771 n UK 80.3027 n HK 7.6967 n CHINA 8.7141 n SINGAPORE 46.8563 n AUSTRALIA 41.4881 n EU 69.4580 n KOREA 0.0399 n SAUDI ARABIA 16.0513 Source: BSP (March 27, 2026)