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LPG price up by P11.18/k By Alena Mae S. Flores
VOL. XXXVI • NO. 352 • 3 SECTIONS 20 PAGES • P20 • WEDNESDAY, FEBRUARY 1, 2023 • www.manilastandard.net • mst.daydesk@gmail.com
THE country’s oil firms raised the price of liquefied petroleum gas or cooking gas by P11.18 to P11.50 per kilo effective today (Feb. 1) to reflect the higher contract per metric ton of LPG in the world market. The amount is higher than the previ-
ously projected P9.50 per kilo increase and translates to an additional P126.50 per 11-kilo tank used by most households. Liquified Petroleum Gas Marketers’ Association president Arnel Ty said LPG contract price went up by $191 per MT from $599 per MT in January, which translates to an increase of up to Next page
PBBM vows affordable housing To set P1b fund to subsidize amortization for gov’t low-cost homes By Vince Lopez, Rio N. Araja and Maricel V. Cruz
P
RESIDENT Ferdinand Marcos Jr. said he is looking at a P1 billion subsidy to reduce monthly amortizations for recipients of the government’s low-cost housing units. President Marcos made this pronouncement during the groundbreaking ceremony of a housing project under the Pam-bansang Pabahay Para sa Pilipino Housing (4PH) Program. The President said that he and Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar are studying the creation of the fund to subsidize beneficiaries who cannot afford the monthly amortization on the housing units. “We are still left with the fact that many of our beneficiaries will still not be able to afford the monthly Next page
A DECENT HOUSE FOR EVERY PINOY FAMILY. President Ferdinand
Marcos Jr. leads the groundbreaking ceremony for the National Pabahay Para sa Pilipino Housing (4PH) Project – Batasan Development and Urban Renewal Plan on Tuesday, January 31, 2023. According to the President, this will be the government’s largest flagship housing program, which will fulfill the goal of providing every Filipino family with a proper and decent house. He is joined by Speaker Martin Romualdez (left), Quezon City Mayor Joy Belmonte (2nd from right) and Human Settlement and Urban Development Secretary Jose Rizalino Acuzar (right).
President names Gatchalian as new DSWD head By Vince Lopez
DSWD Sec. Rex Gatchalian
PRESIDENT Ferdinand Marcos Jr. has appointed Valenzuela Rep. Rex Gatchalian as the new head of the Department of Social Welfare and Development. Gatchalian, who took his oath of office at the Palace yesterday hours after Mr. Marcos graced the 72nd founding anniversary of the DSWD, succeeded former journalist Erwin Tulfo. Tulfo was bypassed by the Commis-
sion on Appointments last year following questions on his US citizenship and his previous libel convictions. He was not reappointed by the President. “I just took my oath as head of DSWD. Mr. President, thank you for giving me the opportunity to be able to serve the country in a much larger capacity,” Gatchalian said on Twitter as he assured his constituents in Valenzuela it will be “business as usual” and that “a caretaker will be appointed by the Next page
Vergeire ‘ready’ to take DOH top job if offered By Willie Casas and Macon Ramos-Araneta
Department of Health OIC Maria Rosario Vergeire
DEPARTMENT of Health (DOH) officer-in-charge Maria Rosario Vergeire said Tuesday that she is now ready to be the next secretary of the agency, if she is offered the position. Vergeire confirmed this in a press conference, saying that her experience as OIC in the last six months have let her see areas in which she could lead reforms.
Inflation in Jan. seen to heat up further to 8.3%
Diokno assures no recession if MIF fails By Macon Ramos-Araneta THE country’s economic managers assured senators that the proposed Maharlika Investment Fund (MIF) will not be big enough to bring down the Philippine economy even if it fails, Senate President Juan Miguel Zubiri said in a media briefing Tuesday. Zubiri and 14 other senators were briefed on Monday by Secretaries Benjamin Diokno of Finance and Amenah Pangandaman of Budget, Bangko Sentral ng Pilipinas Governor Felipe Medalla and National Economic and Development Authority chief Arsenio Balisacan on the proposed MIF and how it would help accelerate the country’s economic growth. “He said our economy is a P19 trillion economy. So, a P100 billion to P150 billion economic fund will not make a big enough dent to put us in recession,” Zubiri said. Diokno made the assurance after Senator Robinhood Padilla asked if the economy would collapse if the MIF fails. Zubiri said a worst-case scenario would be a global economic crisis that may put the MIF at risk. Next page
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TOAST FOR THE NEW YEAR. President Ferdinand Marcos Jr. makes a toast during the Vin d’ Honneur at the Palace attended by members of the diplomatic corps, led by its dean, Archbishop Charles Brown (right), the Papal Nuncio to the Philippines.
Envoys asked to back PH bid in UNSC By Vince Lopez
In his remarks during the Vin d’Honneur he hosted in Malacañang, the President said he counts on the PRESIDENT Ferdinand Marcos Jr. on Tuesday ral- support of allies for the Philippine candidature for a lied members of the diplomatic community to support non-permanent UNSC seat for the term 2027-2028. “You will excuse my little bit of campaigning for the country’s bid for a seat in the United Nations Sethe Philippines curity Council. Next page
INFLATION in January 2023 likely accelerated to as high as 8.3 percent from the 14-year high of 8.1 percent in December on the back of higher prices of electricity, fuel and food items, the Bangko Sentral ng Pilipinas said Tuesday. In a statement, BSP projected the January 2023 inflation to settle within the range of 7.5 to 8.3 percent. “Upward price pressures for the month are expected to emanate from higher electricity rates, approved water rate rebasing, higher domestic petroleum prices, uptick in the prices of key food items, and the annual increase in sin taxes,” it said. The BSP, however, said Filipinos might have found relief last month from lower LPG prices and the strengthening of the Philippine peso. The BSP said it is prepared to “adjust its monetary policy stance at the Next page