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Thursday, October 16, 2025 Vol. 21 No. 8
P25.00 nationwide | 3 sections 30 pages | 7 DAYS A WEEK
By Reine Juvierre S. Alberto @reine_alberto
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HE steady stream of cash remittances into the country from overseas Filipinos continues to support households, with inflows expected to rise further as families recover and prepare for more disasters. According to the latest data from the Bangko Sentral ng Pilipinas (BSP), cash remittances grew by 3.2 percent to $2.98 billion in August 2025 from $2.89 billion in the same month a year ago. From January to August this year, cash remittances rose by 3.1 percent to $22.91 billion from $22.22 billion in the same period last year. “Whether there are external threats or not [from pandemics to inflation pressures], expect more foreign currency from Filipinos abroad that addresses family seasonal needs and now due to disasters,” Institute for Migration and Development Issues See “Aug,” A2
CRACKS IN THE SYSTEM High-rise buildings and riverside communities along the Pasig River in Pasig City are seen on Tuesday, October 14, 2025. Defense Secretary Gilberto Teodoro Jr. has ordered heightened earthquake preparedness
nationwide following two major tremors—magnitude 7.4 and 6.8—that struck Manay, Davao Oriental, last week. The directive comes as experts warn that the West Valley Fault, which cuts across major Metro Manila cities, could unleash a 7.2-magnitude quake capable of intensity VIII ground shaking. The renewed focus on seismic readiness coincides with growing industry concern over the continued use of substandard steel products and outdated construction standards—issues that could spell disaster in the event of “The Big One.” NONOY LACZA
NGCP: TRANSMISSION Target: Ghost projects’ insurance claims RATES DOWN SLIGHTLY By Bless Aubrey Ogerio
By Lenie Lectura
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@llectura
HE National Grid Corporation of the Philippines (NGCP) reported Wednesday a slight reduction in overall transmission rates which are reflected in the October bills of end-consumers. On Wednesday, the grid operator said overall transmission rates stood at P1.3998 per kilowatt hour (kWh), down by 1.23 percent from P1.417 per kWh. NGCP Assistant Vice President and Regulatory Management Head Julius Ryan Datingaling said during a news briefing that the lower transmission rates were brought about by the reduction in ancil-
lary service (AS) and transmission wheeling rates. AS and transmission wheeling rates are components of transmission rates. Transmission wheeling rates refer to what the NGCP charges for its core service of delivering electricity, while AS rates cover the pass-through costs of services sourced from the Reserve Market and from providers with bilateral contracts with NGCP to stabilize the grid during power supply-demand imbalances. NGCP does not earn from AS rates, as these are remitted directly to generating companies, and it does not benefit from any movement in their prices. NGCP’s transmission wheeling rates went down by 0.84 See “NGCP,” A2
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HE government is racing to recover insurance claims tied to flood control projects found to be “ghosts” before the year ends. The Insurance Commission (IC) and the Department of Public Works and Highways (DPWH) have begun coordinating to expedite the processing of surety bond claims from contractors and insurance firms involved in unfinished projects now under investigation. “We are fast-tracking the process and have instructed the involved contractors and companies to file their claims ahead,” IC Commissioner Reynaldo Regalado said in a press briefing at the agency’s main office in Manila on October 15. Up to 30 percent of a project’s contract value may be reclaimed by the government. Regalado clarified that a court order would only be needed if an insurance company refuses to pay. In such
IC Commissioner Reynaldo Regalado
cases, proceedings would be filed before the Regional Trial Court. “We are studying what specific cases may be filed,” he added. For his part, DPWH Secretary Vince Dizon said the filing of criminal cases before the Ombudsman or Sandiganbayan would not delay the recovery of the insurance claims. “Once we have filed the cases before the Ombudsman and the IC, we can already start the process of collecting the government’s claims,” Di-
zon said in Filipino during the same event. The DPWH chief added that the agency is still consolidating the total number of contracts to be covered by the claims, given the volume of projects under probe. The IC and DPWH have also begun contacting insurance firms linked to the first batch of cases filed before the Ombudsman. In Bulacan, Dizon said, the DPWH has written to Liberty Insurance Corp., Travelers Insurance, and Sterling Insurance Company Inc. to claim 30 percent of the contract value for all flood control projects included in the first Ombudsman case from the province’s first district. The documents have already been submitted to the IC. According to a Philippine Center for Investigative Journalism report, Bulacan ranks sixth among the country’s most flood-prone areas, with 668 projects amounting to about P43.75 billion.
Meanwhile, the IC is also looking into the possibility of “ghost insurance” policies issued for non-existent or unimplemented projects. “We are checking this daily, but so far, there are no claims without corresponding contracts filed with us. Still, we are not discounting that possibility,” Regalado said. Insurance firms found to have issued irregular policies or failed to pay valid claims could face sanctions ranging from fines and suspension to revocation of license, Regalado added. For insurance providers, Dizon hopes that they will cooperate without the need for litigation. “We hope they return what is due to the people without prolonging the legal process,” he said. The DPWH and IC formalized their partnership through a signed agreement at the IC’s main office, committing to jointly fast-track the recovery of insurance claims and strengthen their probe into irregularities in public works projects.
PESO EXCHANGE RATES n US 58.2190 n JAPAN 0.3837 n UK 77.5594 n HK 7.4891 n CHINA 8.1562 n SINGAPORE 44.8494 n AUSTRALIA 37.7608 n EU 67.5864 n KOREA 0.0408 n SAUDI ARABIA 15.5247 Source: BSP (October 15, 2025)