The fiscal discipline that the Department of Finance (DOF) continues to impose on government-owned or controlled corporations (GOCCs) has yielded PHP57.55 billion in actual dividend remittances in 2021 from these state-run firms, or 9.4 percent higher than the 2019 pre-pandemic collection of PHP52.59 billion. These 2021 remittances exclude the dividends foregone in 2020 income from the Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP), which retained their dividend contributions to continue boosting their capital requirements, the DOF’s Corporate Affairs Group (CAG) said in its report to Finance Secretary Carlos Dominguez III. Inclusive of the dividend
The Sandiganbayan has dismissed charges filed against workers of a branch of the Land Bank of the Philippines (LBP) in Marikina City who were accused 24 years ago by a government retiree of defrauding her of her gratuity pay via a fake bank account in her name. In a decision dated March 25, the anti-graft court’s Fourth Division acquitted LBP Concepcion branch bank cashier Emelyn Pizarro, bank clerk Hendrei Soriaga, teller Danilo Panaguiton and document examiner Ricardo Espino. The court ordered that the case against their boss, then branch bank manager Eric Emmanuel Pineda who remains at large, will remain
The Philippine National Police (PNP) Directorate for Logistics has been recognized for its innovation of a central database on the force’s logistical assets. The directorate and its personnel received a “certificate of recognition of information system proposal” and a “Medalya ng Katangi-Tanging Gawa” for its Logistics Data Information and Management System (LDIMS) during Monday’s flag-raising rites in Camp Crame, Quezon City The LDIMS is a one-stop-shop that maintains a central database that provides relevant information of all PNP logistical assets in real-time, verifies personnel accountabilities, and provides easy access in the issuance of clearances for retiring PNP personnel. PNP deputy
Ninety-seven-year-old Magdalena Gamayo, an Ilocano master weaver in a rural village of Lumbaan, Pinili town, is donating a portion of her family lot in her hometown just to make sure the “inabel” weaving tradition will stay through the years, even when she is gone. Through a provincial resolution certified as urgent by Ilocos Norte Gov. Matthew Joseph Manotoc, members of the Sangguniang Panlalawigan (SP or Provincial Board) unanimously approved on Monday the proposed conditional deed of donation of a 290-square meter lot of Gamayo in favor of the Ilocos Norte government. As agreed by both parties, provincial legal counsel Erme
The Supreme Court (SC) has affirmed a life imprisonment sentence imposed by a court in Calamba City, Laguna on a man found guilty of possessing and trading shabu. In a resolution uploaded online on March 23, the SC found Angelo Jimenez guilty on two drug charges and ordered him to pay a fine of PHP800,000. In denying his appeal, the high court dismissed Jimenez’s claim that it was improbable that he would immediately sell drugs to a policeman whom he just met during a buy-bust operation in Bay, Laguna in 2015. “On this score, it is settled that drug dealers
The National Disaster Risk Reduction and Management Council (NDRRMC) on Monday announced that some 3,850 individuals have so far been affected by the continuing unrest of the Taal Volcano. In its latest situation report, the agency said this is equivalent to more than 1,000 families living in 14 barangays in the towns of Agoncillo and Laurel in the province of Batangas. Of this number, some 3,460 persons or 956 families are currently staying in 16 evacuation centers while 201 persons or 54 families are being aided outside. Taal Volcano’s alert status was raised to Level 3 (magmatic unrest) on Saturday
