THE MORATORIUM on approving new economic zones in Metro Manila is restricting the flexibility of IT and business process management (IT-BPM) companies in selecting office locations, Savills Philippines said.

Savills Philippines Chief Operating Officer Cha Carbonell told 大象传媒 via Viber on Thursday that while the Metro Manila office market 鈥渉as a headline vacancy of around 20%鈥� once you apply the filters that creditworthy multinational corporations (MNC) and business process outsourcing (BPO) occupiers require 鈥� PEZA accreditation, green certification, business continuity plan (BCP)-grade specifications 鈥� that figure drops sharply.鈥�

Administrative Order (AO) No. 2018, signed by former President Rodrigo R. Duterte, instructed the Philippine Economic Zone Authority (PEZA) to no longer accept, process, or evaluate applications for new ecozones in Metro Manila to channel investment to areas outside the capital.

Ms. Carbonnell said the policy may no longer be a good fit given the current demand for high-quality, PEZA-compliant spaces.

The core business districts have only 478,000 square meters (sq.m.) of such space available combined, including 119,000 sq.m. in the Ortigas central business district (CBD), 160,000 sq.m. in the Makati CBD, and 199,000 sq.m. in Bonifacio Global City (BGC).

When asked if major locators are migrating to secondary CBDs, or choosing to forgo PEZA incentives to remain in primary districts, Ms. Carbonell said the large occupiers with PEZA registered status, are almost universally not interested in giving up the incentives.

鈥淲hat we are seeing instead is a more structured migration rationale toward secondary districts, driven by鈥� employee accessibility, cost arbitrage (secondary district rents run roughly 20-40% below BGC and Makati), and BCP considerations where companies want to split requirements across multiple hubs,鈥� Ms. Carbonell said.

The supply gap is forecast to worsen in the coming years, with only 711,000 sq.m. of upcoming office stock being PEZA-certified, according to the Colliers first quarter 2026 Property Market Briefing.

Colliers called AO 18 a 鈥渂lunt policy tool鈥� given that Metro Manila is the primary driver of the office sector, accounting for around 70% of IT-BPM transactions in the first quarter.

鈥淣on-PEZA, non-green buildings are already carrying a vacancy rate of approximately 30%, and the trajectory is upward. The structural demand drivers are firmly against this segment: the most creditworthy occupiers will not enter them, and even government office take-up鈥� is unlikely to absorb the volume at risk,鈥� Ms. Carbonell said when asked about the occupancy outlook for non-PEZA office buildings.

In a statement, the DA said it discovered eight projects valued at P94 million in the province, with the officials allegedly falsifying documents to declare the projects complete, facilitating the release of public funds.

The complaints over what the DA described as 鈥済host鈥� projects, filed on Thursday at the Office of the Ombudsman, include corrupt practices, malversation, falsification of public documents, grave misconduct, and serious dishonesty.

The complaints cite violations of Articles 217, 171, and 172 of the Revised Penal Code concerning malversation through falsification of public documents, Section 3(e) of Republic Act 3019 (Anti-Graft and Corrupt Practices Act), and administrative offenses including grave misconduct and serious dishonesty.

The DA is now the lead agency for FMRs after the DPWH was stripped of responsibility for building them in the wake of the infrastructure corruption scandal of 2025.

Validation of the projects was carried out by the DA鈥檚 Internal Audit Service (IAS), which has inspected at least 1,200 FMR projects in Regions III, IV-A, V, IX, X, and XI.

Those charged face potential penalties of imprisonment of up to 40 years, fines, and perpetual disqualification from public office. 鈥� Pierce Oel A. Montalvo

The National Grid Corp. of the Philippines (NGCP) said the yellow alert for the Visayas was in effect between 4 p.m. and 9 p.m. on Thursday.

A yellow alert is issued when supply margins are insufficient to meet the transmission grid鈥檚 contingency requirement.

During the period, available capacity stood at 2,670 megawatts (MW) against peak demand of 2,479 MW.

Remaining on forced outage were 19 power plants, with 14 plants derailed. Overall, 867 MW was unavailable to the grid.

NGCP said the unavailability of large coal-fired power plants in the Visayas and high forecasted power demand triggered the yellow alert.

This year, the grid operator has issued a total of 15 yellow alerts and six red alerts in Luzon and the Visayas.

Mark Anthony Ynoc, former president of Mandaue Chamber of Commerce and Industry, called the consecutive yellow alerts in the Visayas deeply concerning.

鈥淭hese incidents reflect the need for stronger long-term energy planning, more aggressive investment in power generation, and improvements in transmission infrastructure,鈥� Mr. Ynoc said in a statement on Thursday.

鈥淩eliable and affordable power is critical to sustaining economic growth and business confidence in the region,鈥� he added.

Mr. Ynoc said higher power rates and recurring outages affect productivity, increase the cost of consumer goods and disrupt operations.

鈥淭hese challenges ultimately weaken the competitiveness of businesses in Cebu and the Visayas,鈥� he said. 鈥� Sheldeen Joy Talavera

Citing its 2026 Global Automotive Consumer Study, Deloitte found that in the Philippines, 34% of survey respondents expressed interest in the electrified segment, compared with 27% a year earlier.

The top reasons for their preference was fuel costs (62%), the environment (49%) and the driving experience (45%), the study found.

Potential drawbacks cited were dearth of charging stations (48%), battery replacement costs (41%), and speed of charging (41%), Deloitte said.

Among car owners, 37% were determined to have low brand loyalty, while the size of the first-time owner market was estimated at 31%, which 鈥渉ighlights a market less anchored to legacy brands and more open to exploring alternatives,鈥� Deloitte said.

Respondents said they were most willing to pay for services like emergency assistance (87%), anti-theft tracking (87%), warranty/recall notices (79%), and vehicle health reporting and maintenance cost forecasts (79%).

They were most concerned about sharing data from in-cabin cameras (73%), connected devices (72%), and connected services (71%).

Samahang Industriya ng Agrikultura (SINAG) Executive Director Jayson H. Cainglet said the group discussed the proposed price cap with Agriculture Assistant Secretaries Genevieve E. Velicaria-Guevarra and Michael J. Garcia on May 20.

Agriculture Secretary Francisco P. Tiu Laurel, Jr.听 said earlier in the month that a cap on liempo was being considered due to rising pork prices. He said the cost of liempo from domestic hogs has risen to as high as P420 per kilogram, well above what the DA considers to be a fair price of P380.

As of May 20, pork belly prices remain at P420 per kilogram, according to DA reports.

Mr. Cainglet said SINAG expressed support for the price cap, citing the significant disparity between what hog raisers receive and what consumers pay at retail.

According to SINAG, despite farmgate prices for live hogs averaging only P180鈥�190 per kilo over the past seven months, liempo continues to retail at P400 to P450 per kilo in public markets and supermarkets.

SINAG attributed the price gap to supply chain inefficiencies, weak market regulation, and excessive intermediary margins rather than profiteering by producers.听

The industry association noted that pork imports totaled 891 million kilos last year, with a further 296 million kilos imported in the first four months of 2026, though the retail margin over farmgate ranges between 90% and 120%.

The DA has not yet issued an official statement on the proposed price ceiling. 鈥� Pierce Oel A. Montalvo

In a statement on Thursday, the DBM said the Philippines scored 76 out of 100 in fiscal transparency in the 2025 Open Budget Survey (OBS) 鈥渞eaffirming the country鈥檚 growing reputation as a regional leader in open governance and public financial accountability.鈥�

The survey, using data from 2024, measures three pillars 鈥� transparency, public participation, and oversight.

鈥淔or transparency, what was measured was the public access to information on how the central government raises and spends public resources,鈥� IBP Independent Researcher Zy-za Nadine N. Suzara said at the OBS 2025 Results Forum.

The Philippines鈥� score of 76 indicates that the country is 鈥減ublishing a sufficient volume of budget information,鈥� according to the survey. This was slightly higher than the score of 75 recorded in 2023.

Within East Asia and the Pacific, the Philippines posted the highest score in fiscal transparency, ahead of Indonesia (71), Mongolia (64), Cambodia (54), Vietnam (51), Malaysia (51), Papua New Guinea (46), and China (19).

To further improve budget transparency, the IBP recommended the inclusion of more comprehensive multi-year projections and disclosures on fiscal risks.

It also urged the government to provide more comprehensive data on debt, policy and performance information, and improve disclosure of revenue categories and individual revenue sources.

However, the Philippines continued to post low scores in public participation, which measures the extent to which governments provide formal and meaningful opportunities for public involvement in the budget process.

The Philippines scored 37 out of 100 in public participation in 2025, higher than the 33 recorded in 2023.

鈥淭hat鈥檚 a four-point increase 鈥� but in terms of the OBS survey and methodology, that number even if you see an improvement is still inadequate,鈥� Ms. Suzara said.

The Philippines outperformed its regional peers Indonesia (33), Thailand (28), Malaysia (20), Vietnam (17), and Cambodia (2) in the category.

To improve public participation, the IBP recommended that the government actively engage underrepresented communities, publish clear documentation of public inputs received during budget formulation and implementation, and provide more information on public engagement processes.

The group also urged Congress to allow members of the public to testify during budget deliberations and hearings on audit reports, as well as establish a task force on people鈥檚 participation.

Meanwhile, the Philippines scored 68 out of 100 on oversight, lower than the 83 recorded in 2023. The indicator measures the role of legislatures and supreme audit institutions in overseeing the budget process.

鈥淭he figures for oversight have actually been fluctuating over the years. There were years when oversight scores were quite good, some years we went down,鈥� Ms. Suzara said.

Legislative oversight posted a score of 58 out of 100, while audit oversight was scored 89.

To strengthen legislative oversight, the IBP said the legislature should debate budget policy before the Executive鈥檚 Budget Proposal is tabled and create a committee that will examine in-year budget implementation and the audit report.

Meanwhile, it said that audit processes should be reviewed by an independent agency on an annual basis to strengthen independence and improve audit oversight of the Commission on Audit. 鈥� Justine Irish D. Tabile

Citing significant housing challenges faced by the Philippines, the ADB said the other dimension of the housing problem is inadequacy, or the shortage of available dwellings.

鈥淗ousing inadequacy and poor-quality housing are a global challenge affecting over 2.8 billion people, including about 1.1 billion living in informal settlements and slums and more than 300 million experiencing homelessness,鈥� the ADB said.

鈥淎sia and the Pacific account for a substantial share of this challenge,鈥� it added.

The bank said inequality in housing is more pronounced in countries like the Philippines, along with Bangladesh, India, and Nepal.

The ADB noted that 鈥渉ousing deprivation is not only a nationwide challenge but also a significant distributional one.鈥�

鈥淩apid urbanization and population growth have led to a proliferation of slums and informal settlements. More than half a billion Asians live in slum conditions without secure tenure, adequate basic services, or legal recognition,鈥� it added. 鈥� Justine Irish D. Tabile

BCDA Executive Vice-President Gisela Kalalo and Vice-President for Strategic Projects Management Randy Viacrusis visited the site along with provincial officials, V-Green Global Charging Station Development Corp., and VinFast Electric Vehicle Philippines Corp.

Following the site visit, BCDA witnessed the signing of a memorandum of understanding听 between the province of Bataan and V-Green for the planning, deployment, and operation of EV charging infrastructure across the province.

In a听 policy brief, the think tank found a 鈥減olicy mismatch鈥� between the objectives of the Biofuels Act of 2006 and the way it is currently being implemented by government agencies.

The House recently passed the Oil Price Stabilization Act, which explicitly allows the President to suspend mandatory biofuel blending for up to one year if the cost of blended fuel exceeds pure gasoline by at least 5%.

Instead of achieving the goal of energy independence and rural development, the report said the country remains dependent on imported ethanol to meet the mandatory 10% biofuel blend for gasoline.

It said suspending the mandate would severely threaten the livelihoods of 84,000 to 88,000 sugarcane farmers, 80% to 85% of whom are vulnerable smallholders.

It said domestic production has significantly underperformed its target of 944.15 million liters of bioethanol by 2025 set out in the Philippine Energy Plan, with only 424.6 million liters actually produced by domestic refiners in 2024, causing oil companies to rely on imports.

The CPBRD said only 22 bioethanol refineries were operational as of 2025, forcing them to operate at an unsustainable 98.5% maximum capacity just to satisfy half of the domestic demand.

According to the CPBRD, policies adopted by the Sugar Regulatory Administration and the Department of Agriculture are further aggravating the situation.

These include restrictions on importing sugar and molasses, as well as a moratorium on the construction of new ethanol plants. As a result, local ethanol is reportedly 1.7 to 3.8 times more costly than imports. 鈥� Pexcel Jon Bacon

The state-run investment vehicle booked other comprehensive income of P693.29 million in the January-to-March period, bringing its total comprehensive income to P1.32 billion.

Before tax, MIC鈥檚 earnings reached P628.85 million during the quarter.

This came after business income totaled P686.75 million, while operating expenses reached P78.29 million. The company also recorded foreign exchange gains amounting to P20.39 million.

As of end-March, MIC鈥檚 total assets inched up by almost 1% to P129.48 billion from P128.23 billion at end-December 2025.

Meanwhile, total liabilities fell by 21% to P272.6 million as of end-March from P345.04 million as of end December 2025.

Total equity stood at P129.2 billion as of March 31, up 1% from P127.88 billion at end-December.

2025
Meanwhile, for full-year 2025, MIC鈥檚 net income reached P2.36 billion, down 11.8% from P2.68 billion in 2024.

However, other comprehensive income surged to P379.42 million, bringing its total comprehensive income last year to P2.74 billion, 2.3% higher than the P2.68 billion recorded in 2024.

The MIC saw a 1.6% increase in business income in 2025 to P2.82 billion from P2.77 billion a year earlier. It also booked foreign exchange gains of P25.26 million in 2025.

However, operating expenses jumped by 413.9% to P478.96 million in 2025 from P93.2 million in 2024.

In a separate report, the MIC said the Department of Budget and Management approved its P35.48-billion corporate operating budget for 2026, slightly lower than the proposed P35.53 billion.

Of the approved budget, P34.86 billion was allocated for capital outlays, P425.42 million for maintenance and other operating expenses, and P193.68 million for personal services.

This leaves an excess of P93.53 billion from its total corporate funds and capitalization of P129 billion. 鈥� Justine Irish DP. Tabile

In Department Order No. 15 Series of 2026, Agriculture Secretary Francisco P. Tiu Laurel, Jr. requested the Bureau of Customs to collect additional duties on frozen poultry, pork, coffee preparations, and fresh onions when their actual cost, insurance, and freight (CIF) prices breach trigger thresholds.

The measure is authorized under Republic Act No. 8800, which allows the Secretary of Agriculture to impose safeguard duties without investigation when actual import prices drop below trigger prices outlined in the World Trade Organization Agreement on Agriculture.

Additional duties will equal the difference between the actual CIF price at the time of import document lodgment and the corresponding trigger price for each product.

Affected products include frozen chicken parts, with trigger prices ranging from P93.96 to P423.55 per kilogram, various pork products (P79.63 to P305.73), and coffee products (P134.11 to P203.74). The fresh onion trigger price is P74.21 per kilogram.

The order, issued on the strength of findings by the Trade Remedies Office of the Policy Research Service, takes effect immediately and revokes Department Order No. 20 Series of 2024 and Department Order No. 5 Series of 2026. 鈥� Pierce Oel A. Montalvo

鈥淲e would be willing to fund it, if we were asked,鈥� ADB Country Director for the Philippines Andrew Jeffries told 大象传媒 on Wednesday.听

Earlier this month, Transportation Undersecretary for Railways Timothy John R. Batan said the Department of Transportation (DoTr) is still looking for funding for the railway.听

The ADB said it is willing to assist the government to ensure the completion of the Mindanao Railway Project, one of the big-ticket DoTr projects.听

He said, however, that government efforts to rein in debt levels will be a consideration in determining the ADB鈥檚 ultimate involvement.

鈥淕iven our engagement with the government and their concern on maintaining and reducing government debt levels over time, I think they would want to explore as much private funding as they can,鈥� Mr. Jeffries said.听

The ADB is ready to provide official development assistance (ODA) loans, or provide public-private partnership (PPP) advisory services to help bring in investments, he said.听

鈥淭he private sector could even fund some of that project like they did in the Mactan-Cebu Airport and the like. I guess we could also support it without touching ODA or public debt. That is one of the strategic pillars of what ADB is also trying to do region-wide,鈥� Mr. Jeffries said.听

In 2023, the Philippines withdrew its loan request for ODA from China for the Mindanao Railway Project phase 1, and two more railway projects 鈥� the South Long-Haul railway, and the Subic-Clark railway, due to lack of progress towards a financing decision by Beijing.

The first phase of the Mindanao Railway Project is valued at P83 billion. It will run between Tagum, Davao del Norte and Digos City, Davao del Sur. It is expected to carry 122,000 passengers per day and cut travel time between Tagum and Digos from three hours to one.

Mr. Batan has said that the DoTr is exploring the possibility of PPPs structure for the Mindanao Railway Project.听

For now, the DoTr remains uncertain when groundbreaking for the project can begin, as the government is still determining how to fund it.

Mr. Batan added that the DoTr does not expect any progress on the financing front within the year due to the need to update the feasibility study.

Last month, the PPP Center said that the pre-feasibility study for the P100.64-billion phase 3 of the Mindanao Railway Project was completed.听

Phase 3, proposed as a solicited PPP, is a 61鈥慿ilometer passenger and cargo railway linking the industrial and commercial centers of Cagayan de Oro.

The DoTr will move to a comprehensive feasibility study to assess and refine the project鈥檚 technical, financial, and economic viability, the PPP Center said. 鈥� Ashley Erika O. Jose

At a hearing of the Committee on Flagship Programs and Projects, Public Works Senior Undersecretary Emil K. Sadain said that of the 26 ongoing flagship infrastructure projects, eight are targeted for completion by 2028, the year the administration steps down.

The relatively modest budget request for 2027 is well off the over P1 trillion it was granted in the 2025 spending plan and the nearly P530 billion allocation in 2026. In 2025, the department faced intense scrutiny in the wake of the flood control corruption scandal, leading to an overhaul of the DPWH leadership and a review of many of its projects. The department also had the farm-to-market road program taken away from it, with the Department of Agriculture (DA) stepping in to replace it.

Mr. Sadain said overall, 201 infrastructure flagship projects at various stages of implementation are being overseen by 22 agencies, with 76 under the DPWH.

He said five projects are currently awaiting approval by the Economic Development Council, while 12 others are under review by the Investment Coordination Committee.

Rizal Rep. Jose Arturo S. Garcia, Jr. queried whether substantially complete projects can be put to use immediately.

鈥淚f there are projects like highways or buildings that are 50% to 60% complete, you can already use them, right? So they can impact people in some way,鈥� Mr. Garcia said.

Mr. Sadain said some flood control and pumping station projects can be made use of by 2027, while several road projects are substantially complete and have been operating partially. 鈥� Pexcel John Bacon

THE Bangko Sentral ng Pilipinas (BSP) should avoid aggressive policy tightening and keep its stance balanced between controlling inflation and supporting growth, an economist said.

Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., added that the BSP will likely wait for additional economic data before potentially tightening once more next month.

鈥淲hat we need to understand, the reason I say defensive is that they鈥檙e at a crossroads. We want growth to prosper, but we need to also contain inflation, right?鈥� he told the Pandesal Forum at the Kamuning Bakery Cafe in Quezon City on Wednesday. 听

If the BSP were aggressive, it could have delivered an inter-meeting hike earlier this month when inflation exceeded expectations, according to Mr. Ravelas. 听

鈥淏ut probably they鈥檒l wait for June 18 to make those decisions until they look at what鈥檚 happening in the Middle East, probably the impact on the total government revenue, etc., (and) what plans they have to spur growth,鈥� he said. 鈥淎t least by June, there will be a plan (that will flow on to) what the President will say for the State of the Nation Address. So they can all align themselves.鈥�

Inflation has failed to remain within central bank and market projections since the Iran war started, with the highly uncertain environment challenging forecast models.

In April, inflation accelerated to an over three-year high of 7.2%, well above the BSP鈥檚 5.6-6.4% estimate and the 5.5% median forecast returned by a 大象传媒 poll of 17 analysts.

Mr. Ravelas sees the central bank raising the key interest rate by a total of 125 basis points (bps) to 5.75% by year鈥檚 end, projecting inflation to average 7.2% for the year.

The BSP started a new tightening cycle last month, delivering its first 25-bp rate increase in over two years during its April 23 meeting to bring the key policy rate to 4.5%.

Central bank officials said the move was a preemptive measure to curb price pressures and cautioned against spillover effects, with headline inflation projected to settle well above their 2%-4% target until next year.听

BSP Governor Eli M. Remolona, Jr. has left the door open to further modest rate hikes to bring inflation back within the target range in keeping with the bank鈥檚 price stability mandate.

Mr. Ravelas noted that the Philippine economy is showing signs of stagflation 鈥� a combination of slowing growth, stubborn inflation and high unemployment.听

Gross domestic product growth eased to 2.8% in the first quarter from 3% the previous quarter and 5.4% a year earlier.

Mr. Ravelas sees full-year growth settling between 3.8% and 4% in 2026, weakening from the 4.4% in 2025.

However, Mr. Ravelas said the conditions for stagflation may not be met with long-term unemployment remaining low at around 7%.

Meanwhile, Mr. Ravelas said the peso risks plummeting to the P65-to-the-dollar level over the next three years, though the BSP鈥檚 policy tightening could provide the currency some relief.

The peso closed at all-time low of P61.75 to the dollar as lingering market uncertainty from the Middle East meant continuing safe-haven demand for the dollar.

鈥淏etween 2011 and 2024, the number of SOEs declined from 158 to 118 due to privatization, mergers, and closure of loss-making entities,鈥� the OECD said.

However, government-owned and -controlled corporations (GOCCs) remain active in key industries like hydrocarbons, energy, finance, transportation and utilities, it said.

鈥淯nder the GOCC Governance Act of 2011, they conduct both commercial and non-commercial activities and contribute to national development by providing essential public services and infrastructure,鈥� it said.

鈥淪OEs may also be tasked with promoting social stability through employment creation,鈥� it added.

The OECD said the Philippines has yet to fully integrate sustainability into SOE target-setting and monitoring systems.

鈥淚n the Philippines, the Governance Commission for GOCCs (GCG) has a central monitoring role but it provides general governance and performance oversight rather than a dedicated SOE sustainability monitoring framework,鈥� it said.

The report noted that some sustainability-related key performance indicators have been incorporated into the performance evaluation system for GOCCs.

The Philippines revised its performance evaluation system in 2024 to include disaster risk reduction and management, as well as gender-equality, disability, and social inclusion measures.

Meanwhile, the OECD also highlighted the role of governments in influencing sustainability outcomes through procurement contracts.

Advanced economies such as China, India, Japan, and South Korea have overarching laws governing green public procurement (GPP), while countries like the Philippines promote GPP through broader sustainability and climate-related laws, strategic roadmaps, national plans, and eco-labeling and certification systems, it said.听

The Philippines, along with Singapore and Thailand, was among only three of the 10 countries reviewed in the report that implement voluntary compliance for GPP practices applicable to SOEs. 鈥� Justine Irish D. Tabile

In an advisory on Wednesday, the National Grid Corp. of the Philippines (NGCP) said the Visayas grid was on yellow alert between 4 p.m. and 8 p.m.

A yellow alert is issued whenever power reserves are insufficient to meet the transmission grid鈥檚 contingency requirement.

During the period, available capacity was at 2,692 megawatts (MW) against peak demand estimated at 2,503 MW.

A total of 847 MW was unavailable to the grid after forced outages at 18 power plants and derated operations at 15 more.

Consumer group Power for People Coalition (P4P) urged the government to conduct a full investigation after the recent series of grid alerts.

鈥淎 full investigation into the red and yellow alerts should also be pursued both by the energy agencies and Congress. Stronger penalties should be enforced for companies responsible for the rotating brownouts 鈥� whether on the generation or transmission side,鈥� P4P Convenor Gerry C. Arances said.

Climate and energy policy group Institute for Climate and Sustainable Cities (ICSC) said no baseload power plant should be non-operational between April and June, citing the NGCP鈥檚 own Grid Operating and Maintenance Plan.

However, the ICSC said some power plants have already exceeded the annual outage allowance, a cap set by the Energy Regulatory Commission for baseload facilities.

鈥淯ntil these power plants are brought back online, the capacity deficit will persist, and the yellow grid alert raised in Visayas will likely remain,鈥� the ICSC said.

The group underscored how dependence on a small number of large centralized baseload facilities can quickly degrade system reliability.

鈥淏uilding resilience through distributed energy solutions is no longer just an environmental option, but an energy-security necessity,鈥� the ICSC said.

鈥淎 more decentralized and diversified approach strengthens local reliability and self-sufficiency while reducing the risk of supply disruptions caused by outages, disasters, and other physical shocks,鈥� it added.

So far, this year, the grid has declared three red alerts and 14 yellow alerts. 鈥� Sheldeen Joy Talavera

China鈥檚 General Administration of Customs and Ministry of Agriculture and Rural Affairs issued Announcement No. 66 on May 14, 2026, prohibiting direct or indirect imports from the Philippines, as well as the mailing or carrying of swine products into China.

The order also orders the destruction of any illegally smuggled items and supervised treatment of animal waste from transport originating from the Philippines.

The Department of Agriculture鈥檚 Bureau of Animal Industry (BAI) responded on May 19, clarifying that the Philippines is managing two separate swine diseases.

Classical swine fever, an endemic condition, is controlled through vaccination, surveillance, and farm biosecurity protocols. African Swine Fever (ASF), first detected in 2019, remains an issue managed through movement controls, biosecurity measures, culling, and surveillance in affected areas.

Only eight barangays in the Philippines reported active cases of ASF in April, against 20 in the previous month and 65 a month earlier, the BAI reported.

Since 2019, the disease has been detected in 6,574 barangays.

The BAI said that the Philippines does not currently export live pigs or swine products to China, meaning the restrictions have no immediate trade impact.

The BAI said the two countries share a commitment to disease eradication and biosecurity, noting their adherence to WOAH standards. 鈥� Pierce Oel A. Montalvo

鈥淚f you are in the food and restaurant business, you have the ability to survive. Especially if the entrepreneur can serve good dishes, he will make it through,鈥� he told 大象传媒 on the sidelines of the 大象传媒 Economic Forum earlier this week.

鈥淚n the food sector, the industry is running well. Filipinos like to eat, so there will always be demand,鈥� he added.

Gross domestic product grew by a weaker-than-expected 2.8% in the first quarter, amid the lingering effects of last year鈥檚 corruption scandal and soaring oil prices triggered by the Middle East fighting.

Meanwhile, the consumer price index accelerated to 7.2% in April, exceeding both the Bangko Sentral ng Pilipinas鈥� forecast and target.

Mr. Concepcion, who is also president and chief executive officer of RFM Corp., said the listed food manufacturer is planning to expand operations.

鈥淲e are doing very well. Selecta now is the number one ice cream ever since we parted with Unilever and we are expanding,鈥� Mr. Concepcion said.

鈥淲e have grown the market; We are into milk, pasta, and many others while we continue to have our flour mill. So I am very optimistic,鈥� he added.

In a disclosure to the stock exchange, RFM reported a 10.3% increase in attributable net income to P342 million in the first quarter.

However, Mr. Concepcion warned businesses against making abrupt decisions while conditions remain fluid.

鈥淵ou don鈥檛 want to make a decision abruptly because it鈥檚 very hard to predict the situation. So you remain conservative first, do not be too aggressive, until this situation eases off, and in time it will ease off,鈥� he said.

鈥淵ou always have to measure the risks. If your business is not affected by these conditions, then go ahead. If your business is affected by these conditions, then be more cautious,鈥� he added.

China Bank Capital Corp. Managing Director Juan Paolo E. Colet said demand for food is likely to remain resilient as it is a basic necessity.

鈥淭hat said, inflationary pressures from the Middle East crisis would make ordinary consumers more cost-conscious and could push demand towards options that provide better value for money,鈥� he said via Viber.

Mr. Colet said the impact on restaurants would depend on their market positioning and cost structures.

鈥淩estaurants might pass on increased input costs to customers, but they have to be careful about this because they risk losing patronage or pushing customers to alternatives,鈥� he said.

鈥淲hile overall sector revenues could weather the crisis, we might see margin compression to sustain sales and defend market share,鈥� he added. 鈥� Justine Irish D. Tabile

鈥淔rom improving the ease of doing business and the ease of paying taxes, this reform completes the BIR鈥檚 support for businesses through every stage of the business life cycle,鈥� BIR Commissioner Charlito Martin R. Mendoza said.

鈥淚f we make it easier to start and operate a business, then the government must also make it easier to properly close BIR registration once operations have ceased,鈥� he added.

In Revenue Memorandum Circular No. 047-2026 issued on May 19, the BIR said the revised guidelines aim to ease the processing of applications for the closure and cancellation of taxpayers鈥� business registrations.

The circular covers all business taxpayers registered with the BIR that have permanently ceased operations or are subject to the cancellation of their business registration.

These include individual taxpayers engaged in trade or business or in the practice of professions, as well as those earning income from digital or online platforms.

Corporations, partnerships, joint ventures, associations, cooperatives, and other juridical entities are likewise covered, along with estates and trusts, government agencies and instrumentalities, government-owned and -controlled corporations and government financial institutions.

The circular also covers business taxpayers classified as micro, small, medium or large taxpayers.

According to the circular, taxpayers are required to submit their applications and documentary requirements to the revenue district officer. Electronic filing is also allowed, except for estates, trusts, government agencies, and taxpayers classified according to size.

The circular requires taxpayers to file all final or short-period tax returns covering the period from the beginning of the taxable year up to the date of closure. Taxpayers are also expected to file zero returns for periods without business activity.

The BIR clarified that taxpayers that cease operations without submitting the required documents will continue to be liable for tax.

Since micro taxpayers with gross sales are not subject to mandatory audits, their tax clearance will be issued within three working days of submission of complete requirements assuming no outstanding liabilities. 鈥� Justine Irish D. Tabile

In total 897,575 households had members involved in fishing in 2022, according to preliminary PSA data, against 760,000 fishing households in 2012.

The number of fisherfolk over 50 years old rose 47.3% to over 319,000, outpacing the 4.1% growth in the below-50 group to nearly 602,000.

Those between 30 and 49 years accounted for roughly half of all operators in 2022. The 30-39 age bracket made up 25.3% or 233,000 fisherfolk, while the 40-49 group added another 25.1%, or 231,000 fisherfolk.

Men accounted for 95.1% of fisherfolk (875,875), though female participation rose 139% from 2012 levels to 45,222 individuals. The Western and Central Visayas recorded the highest female representation at 9.6% each, well above the 4.9% national average.

Single proprietorships dominated the industry at 98.72% of the 922,662 capture fishing operations nationwide. Marine waters accounted for 77.3% of activities, while inland waters represented 13.9%.

The Bicol Region led all areas with 113,080 fishing operations. Five regions combined 鈥� Bicol, Mimaropa, and the Central, Western, and Eastern Visayas 鈥� accounted for more than half of the national total. 鈥� Pierce Oel A. Montalvo

The order amends EO No. 720 (2008) and effectively removes the Philippine Council for NGO Certification (PCNC) from the accreditation chain for SWDAs, which are non-stock, non-profit organizations that provide social welfare and development programs and services to vulnerable Filipinos.

Under the new policy, the DSWD鈥檚 Certificate of Registration and Accreditation will now be recognized by the Bureau of Internal Revenue (BIR) as sufficient basis to grant SWDAs donee-institution status, which entitles donors to tax deductions and exemptions under the National Internal Revenue Code.

WHAT IS PCNC?
PCNC is a private, voluntary, non-stock, non-profit corporation established on Jan. 29, 1997, by six of the country鈥檚 largest national NGO networks (Association of Foundations, CODE-NGO, the League of Corporate Foundations, and Philippine Business for Social Progress). It was born out of the NGO community鈥檚 response to government concerns about accountability, following the rapid proliferation of NGOs in the post-EDSA era.

The PCNC was formally designated by the Department of Finance (DoF) as the sole accrediting body for donee-institutions through a 1998 Memorandum of Agreement, a role later reinforced by EO No. 720 in 2008. Its core mandate was to certify that non-profit organizations meet minimum standards for financial management and accountability. It uses a peer-review model staffed by volunteer evaluators; these are professionals from civil society assessing their own sector. For nearly three decades, the PCNC served as the gateway through which SWDAs gained BIR recognition as donee-institutions.

WHY THE CHANGE?
Prior to EO No. 117, SWDAs were required to obtain accreditation from both the DSWD (for regulatory compliance) and the PCNC (as a prerequisite for BIR registration to achieve donee-institution status).

This dual-accreditation requirement made document submission more tedious, as both the DSWD and the PCNC had to verify the legitimacy of registering agencies and prevent fly-by-night organizations. While these safeguards reinforced accountability, they also contributed to longer processing times and increased administrative complexity.

The EO cites Republic Act No. 11032, or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, as its legal basis 鈥� underscoring the government鈥檚 broader policy direction to simplify procedures, reduce red tape, and improve the delivery of public services.

MAIN BENEFITS AND DRAWBACKS
As we welcome any move to ease the bureaucratic challenges of NGOs, it is important to examine the main benefits as well as the potential drawbacks of this recent reform.

1. Reduced bureaucratic burden

SWDAs now deal with a single accrediting body, cutting down on time, paperwork, and administrative costs. This is particularly significant for small, grassroots organizations that have historically struggled with compliance overhead.

2. Cost efficient

The removal of the PCNC accreditation fee frees up funds that organizations can redirect toward program implementation and direct service delivery 鈥� a clear win for communities they serve.

3. Simplified process aligned with law

The EO operationalizes the Ease of Doing Business Act within the social welfare sector. A streamlined pathway may also encourage more legitimate organizations to formalize their operations and seek donee-institution status.

4. Transition protection

Existing SWDAs retain their current donee-institution status until their accreditation expires, preventing disruption to ongoing programs and donor relationships.

POTENTIAL CONCERNS
While at face value, the new EO provides relief to SWDAs, some potential concerns are worth noting.

1. DSWD鈥檚 capacity and readiness

The DSWD will now absorb the full accreditation load for all SWDAs, on top of its core mandate of delivering social welfare services. Whether the department has the staffing, systems, and technical capacity to effectively manage this expanded role, without causing delays or backlogs, remains to be seen.

2. Loss of civil society peer review

The PCNC鈥檚 strength lies in its peer-review model: NGOs evaluating NGOs. This approach carries a degree of sector credibility and independence. Transferring accreditation entirely to a government body may raise questions among donors, international partners, and other stakeholders about the neutrality and rigor of the process.

Its strict process, often misconstrued as a drawback, is necessary to ensure agencies comply with basic regulatory requirements and to verify that they are properly managed and operated.

3. Potential regulatory conflict of interest

Under EO No. 117, the DSWD acts both as a service provider and as the sole accreditor of organizations that may complement or, at times, even critique government programs. This dual role warrants the need for clear structural safeguards, such as independent oversight mechanisms or functional separation, to preserve credibility and mitigate risks. Additionally, consolidating the accreditation authority under a single government agency may weaken the checks and balances between the public and private sectors. Without adequate oversight mechanisms, this could increase the risk of misuse or abuse of funds 鈥� echoing past controversies that highlighted vulnerabilities in the system. Absent third-party certification, the government may consider implementing a more transparent and risk-based post-accreditation monitoring system to maintain public trust in donee organizations.

4. Pending implementing rules

The DoF and BIR have yet to issue the Implementing Rules and Regulations (IRR), leaving SWDAs in a period of uncertainty regarding specific compliance requirements.

While awaiting the issuance of the IRR and before full implementation, it is imperative for the DSWD to invest in institutional capacity-building. This includes hiring additional accreditation staff, improving the reliability of the digitized application and monitoring process, and establishing clear, time-bound processing standards. Equally important is the adoption of a more participatory accreditation framework that incorporates civil society reviewers or an independent technical panel, preserving the spirit of peer accountability long embodied by PCNC, while promoting transparency and maintaining the confidence among SWDAs and their donors.

For its part, the PCNC can view EO No. 117 not as an endpoint, but as an opportunity to redefine its role. Beyond SWDAs, there remains a broader ecosystem of NGOs that can benefit from its expertise. Indeed, the PCNC has already begun repositioning itself as a capacity-building and standards-setting body within the NGO sector. Its nearly three decades of experience in organizational assessment, financial accountability training, and peer evaluation remain invaluable. Moving forward, the PCNC can pivot toward providing technical assistance, pre-accreditation coaching, and sector-level research 鈥� functions that complement and support SWDAs, rather than duplicate, the government accreditation process.

Meanwhile, SWDAs should take a proactive approach to the transition. This includes reviewing the validity of their current accreditations and preparing for the eventual compliance under the new framework. Organizations may also continue to seek PCNC certification on a voluntary basis as it serves as a recognized 鈥淪eal of Good Housekeeping.鈥� The certification process itself provides added value by encouraging NGOs to strengthen internal controls, align documentation, and enhance their financial and program reporting.

On the other side, donors, including corporations, foundations, and high-net worth individuals must be more prudent in conducting their due diligence, particularly in evaluating the governance and financial practices of the donee organizations. Ensuring that donations are properly substantiated and made to duly accredited institutions remains crucial to managing compliance and reputational risk, particularly when deductions are subject to scrutiny.

EO No. 117 clearly represents an effort to reduce bureaucratic friction for social welfare organizations delivering essential services. The intent is sound. However, as with any reform, the true measure of success lies in its implementation. Streamlining must not come at the expense of accountability.

Ultimately, the success of EO No. 117 will be measured not only by faster processing times, but how it sustains donor confidence, upholds accountability standards, and avoids an increase in compliance issues. As such, while we welcome such reform, stakeholders have the right to demand that the systems put in place are robust, transparent, and firmly grounded in the public interest 鈥� ensuring that they truly serve the communities at the heart of this work, and not just as a political move or gain.

The views or opinions expressed in this article are solely those of the author and do not necessarily represent those of Isla Lipana & Co. The content is for general information purposes only, and should not be used as a substitute for specific advice.

Edwin Padillo is a registered social worker and a Markets senior manager at Isla Lipana & Co., the Philippine member firm of PricewaterhouseCoopers global network. He also works at Isla Lipana & Co. Foundation, Inc.

edwin.padillo@pwc.com

Preliminary data showed building projects covered by the permits numbered 16,066 in March from 15,750 a year earlier.

This was weaker than the 8.4% expansion in March 2025 but stronger than the revised 1.8% expansion in February 2026.

In March, construction projects covered 3.41 million square meters (sq.m) of floor area, down 7.8% year on year from 3.70 million sq.m.

These building projects that received approval were valued at P49.07 billion, 0.5% lower than a year earlier when it reached P49.33 billion.

Permits for residential projects, which accounted for 62% of the total, rose 1.1% in March to 9,955.

This pace was slower than the 3.9% posted in March last year but a turnaround from the revised 2.6% decline in February.

These residential projects were valued at P18.70 billion, up from P18.64 billion a year earlier.

Single homes, which accounted for 74.4% of the residential category, fell 14.5% year on year to 7,407.

Applications for apartment buildings more than doubled to 2,209 while applications for duplex or quadruplex homes also soared 89.2% to 210.

On the other hand, nonresidential projects increased 4.9% year on year to 3,663 permits from 3,491 in March 2025. This accounted for 22.8% of the total.

Nonresidential projects represented by the permits were valued at P24.87 billion, rising 7.7% from a year earlier.

Meanwhile, approved commercial construction applications expanded 2.9% to 2,490. These made up 68% of all nonresidential projects.

Industrial permits rose 2.9% to 319, while institutional projects climbed 13.1% to 631 approvals.

Agricultural projects totaled 180 approvals, up 71.4%, while other nonresidential works cornered 43 approved building permits, down 55.7%.

Permits for additions, or construction that increases the height or area of an existing building, rose 12.1% to 667 approvals.

On the other hand, alteration and repair permits totaled 1,214 in March, 11.8% lower from a year earlier, and were valued at P4.10 billion.

Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) had the most approved construction projects during the period, accounting for 21.5% of the total with 3,457 permits.

This was followed by Central Luzon (19.9% share with 3,196 permits), and Central Visayas (8.8% share with 1,409 permits).

The PSA said construction statistics are compiled from the copies of original application forms of approved building permits as well as from demolition and fencing permits collected monthly by the agency鈥檚 field personnel from the offices of local building officials nationwide. 鈥� Heather Caitlin P. Ma帽ago

鈥淭he government鈥� is facing maybe less revenue this year because of the slowdown in the economy, and they are also facing issues helping the most vulnerable people because of the crisis and all,鈥� ADB Country Director Andrew Jeffries told reporters last week.

鈥淎nd so, the government needs to really think about and prioritize what it is going to borrow for this year,鈥� he added. 鈥淎nd again, that process has not been finalized yet.鈥�

He added that the Philippines and the ADB have been discussing a counter-cyclical support facility aimed at helping developing countries like the Philippines weather the impact of the Middle East conflict.

鈥淲e鈥檝e shared details and we鈥檝e had back and forth, but there has not yet been a formal request for one. But they are considering it amongst a lot of options, because, as you know, the impact here is pretty high,鈥� he added.

He said the impact of the conflict is being felt through higher oil prices, rising inflation, and slower economic growth.

鈥淭here鈥檚 obviously a high impact here, as expected, the only question is how long this will last, and nobody really knows that. But鈥e鈥檙e certainly willing to support,鈥� he said.

The Philippine economy grew 2.8% in the first quarter, dragged down by the lingering effects of last year鈥檚 corruption scandal.

Meanwhile, headline inflation accelerated to 7.2% in April, exceeding the Bangko Sentral ng Pilipinas鈥� (BSP) 5.6%-6.4% forecast for the month. It also marked the second straight month that inflation breached the BSP鈥檚 2%-4% target range.

UnionBank of the Philippines Chief Economist Ruben Carlo O. Asuncion said he expects a recalibration in borrowing rather than a slowdown.

鈥淲hile weaker growth could dampen revenue collection and force the government to be more deliberate in prioritizing projects, the same external shock is also increasing fiscal pressures,鈥� he said via Viber.

鈥淎s a result, financing needs are unlikely to ease meaningfully. Instead of a sharp pullback, we expect borrowing to remain broadly steady, but with a greater focus on essential, high-impact spending and more flexible financing instruments such as policy-based loans,鈥� he added.

The Bureau of the Treasury reported that the National Government鈥檚 gross borrowings amounted to P1 trillion in the first quarter.

This represents 37.4% of the P2.68-trillion gross borrowing program for the year according to the Budget of Expenditures and Sources of Financing 2026. 鈥� Justine Irish D. Tabile

鈥淭he Philippines鈥� role is to strengthen the foundations of its domestic energy system while (advocate for) a more integrated, resilient, and investment-ready ASEAN energy system,鈥� Angelo Kairos T. dela Cruz, executive director of the Institute for Climate and Sustainable Cities, said at the 大象传媒 Economic Forum on Monday.

As this year鈥檚 ASEAN chairman, the Philippines is expected to push for stronger regional cooperation on energy security and supply resilience as the Iran war roils global energy markets.

鈥淎s a net energy importing region, ASEAN continues to be exposed to fossil-fuel volatility, making energy security and economic resilience central to policy priorities among its members,鈥� Mr. dela Cruz said.

He said the region is moving towards more diversified and decentralized energy systems, with growing renewable energy deployment across various national markets.

Mr. dela Cruz said transitioning to renewable energy is becoming 鈥渋ncreasingly urgent.鈥�

鈥淭he conversation is now shifting. The question is no longer whether the Philippines is ready for renewable energy investments, but how these investments can be structured to deliver impact across national infrastructure, local communities, and end-user systems,鈥� he said.

Jonathan Back, group chief finance officer and chief strategy officer of renewable energy developer ACEN Corp., said the Philippines is not alone in facing challenges arising from the Middle East crisis.

鈥淭his is absolutely not unique for the Philippines. I think across the world, every government and regulator is asking how to become more energy independent, how do we become resilient?鈥�

Currently, ACEN has about 7 gigawatts of attributable renewable energy capacity, including operational, under-construction, and committed projects. The company operates in the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the US.

Mr. Back said the Philippines has an advanced energy market structure despite its archipelagic challenges.

Mr. Back said increasing the share of renewable energy in the power mix could be complemented by building energy storage systems to enhance integration and help stabilize the grid.

鈥淲e think that is the key way to really boost that 35% by 2030 and 50% by 2040, to make it even faster,鈥� he said, referring to the government targets for the share of renewables in the power mix.

Sharon Ocampo-Monta帽er, director of market operations service at the Energy Regulatory Commission, said the Iran war continues to expose weaknesses in global energy supply chains.

鈥淔or a country like ours, highly dependent on imported fuel, these disruptions translate directly into rising costs and uncertainty for households and businesses,鈥� she said.

鈥淏ut while these challenges are real and immediate, they do not define us. What defines us is how we respond,鈥� she added.

Ms. Ocampo-Monta帽er said the regulator has taken steps to stabilize the system and protect consumers, by ensuring the continued operation of the spot market and easing cost pressures through the suspension of certain charges.

鈥淯nder its ASEAN leadership, the Philippines is actively advancing initiatives to move towards a more interconnected and resilient regional energy system,鈥� she said.

鈥淔or an archipelagic country like us, this presents challenges but it also opens up opportunities for greater cooperation, improved system reliability and access to more competitive energy resources,鈥� she added. 鈥� Sheldeen Joy Talavera

In the Southeast Asia鈥檚 Green Economy Report 2026, the Philippines was assessed to beg unlikely on track to deliver its national climate targets, in the absence of LT-LEDS, which are voluntary plans created by signatories to the Paris Agreement to transition to net-zero.

Net zero refers to the reduction of greenhouse gas emissions to as close as zero while also offsetting any remaining greenhouse gases in the atmosphere.

鈥淧ublish LT-LEDS with a net-zero target to unlock DFI (development finance institutions) and institutional capital currently flowing to peers with clearer long-term frameworks,鈥� the report concluded.

Bain & Co. and Standard Chartered also noted that the Philippine green capital expenditure in 2025 was only 40-45% of the required green investment to meet its 2030 decarbonization targets.

To better integrate renewable energy and support the growing needs of high-energy industries like data centers, the Luzon inter-island transmission and distribution backbone should be the focus, as this is where renewable energy integration constraints are most in need of investment.

Meanwhile, the report found that the Philippines shows promise in fiscal and regulatory incentives by having value-added tax zero rating for renewable energy projects and reduced import tariffs for electric vehicles.

The Philippines should promote fleet electrification to support demand for electric vehicles (EVs) and encourage investment in assembly operations, according to the report.

Bain & Co. and Standard Chartered said Southeast Asia stands to deliver approximately $540 billion in green investment through 2030, but a little over half could be realized due to system bottlenecks.

鈥淩ealizing the full potential of green capital deployment in Southeast Asia hinges on the development of a robust power grid, but grid investment has lagged demand growth,鈥� they said.

Further investments in power, grid, and EV capex could unlock an additional $80 billion by 2030, a 25% increase over projections.

鈥淭he opportunity for Southeast Asia鈥檚 green economy is substantial, but capturing it requires synchronizing policy, infrastructure and finance at speed,鈥� according to Chow Wan Thonh, head of Coverage, Singapore and ASEAN for Standard Chartered. 鈥� Sheldeen Joy Talavera

鈥淲e hope that as we settle our obligation with the private concessionaire, we will see more improvements in their services, including structural upgrades, digitalization, and the reliability of the rail line,鈥� Acting Transportation Secretary Giovanni Z. Lopez said in a statement on Tuesday.

Mr. Lopez said the credit line agreement with LANDBANK will enable the DoTr to fulfill its financial obligations with the LRMC to ensure continued services.

In February, the Light Rail Transit Authority (LRTA) said it is processing a loan with LANDBANK to settle the government鈥檚 P4-billion obligation to the LRMC.

The government, through the LRTA, has already paid P926 million to LRMC, the LRTA has said.

Of the more than P900 million already paid, about P499 million went to structural rehabilitation, P409 million to light rail vehicle (LRV) shortfall payments, and about P22 million for right-of-way acquisition settlements.

The LRTA has said that of the P4 billion claimed by LRMC, about P3 billion was the result of delays in the approval of fare adjustments.

Metro Pacific Investments Corp. (MPIC) has announced plans to divest from LRMC due to mounting losses, which were mainly attributed to the government鈥檚 delayed payments.

LRMC assumed operations and maintenance of LRT-1 in September 2015 under a P65 billion, 32-year concession agreement with the LRTA and DoTr.

Under the agreement, the operator may seek a fare adjustment every two years. In April 2025, the DoTr approved LRMC鈥檚 petition for fare adjustments, though the new fare matrix remains below the company鈥檚 requested rates, resulting in a deficit of P2.17 billion.

MPIC holds a 35.8% stake in LRMC through its unit, Metro Pacific Light Rail Corp., while Sumitomo Corp. owns 19.2% and Macquarie Investments Holdings (Philippines) Pte. Ltd.10%. LRMC is a joint venture company of MPIC, AC Infrastructure Holdings Corp. (a unit of Ayala Corp.), Sumitomo, and Macquarie Investments Holdings. 鈥� Ashley Erika O. Jose

In an advisory on Tuesday, the National Grid Corp. of the Philippines placed the Visayas grid under yellow alert between 3 p.m. and 9 p.m. that day.

A yellow alert is issued whenever power reserves are insufficient to meet the transmission grid鈥檚 contingency requirement.

Available capacity stood at 2,691 megawatts (MW) against the peak demand of 2,594 MW.

A total of 846.3 MW was not available to the grid as 21 power plants remained offline and 10 plants running derated.

The Department of Energy (DoE) is expecting more grid alerts to be issued in the second half of 2026 with El Ni帽o setting in next month and likely to persist until early next year.

The DoE said it is projecting at least one yellow alert in Luzon, along with seven in the Visayas and six in Mindanao. The Visayas grid is expected to experience six red alerts. 鈥� Sheldeen Joy Talavera

THE Public-Private Partnership (PPP) Center is set to release a joint memorandum circular (JMC) in the second half to guide local government units (LGUs) seeking to tap PPPs for development projects.

In a statement, the PPP Center said it is working with the Department of the Interior and Local Government on the JMC, which will serve as a PPP implementation guide for LGUs, particularly for projects involving healthcare.

鈥淭he JMC is targeted to be issued in the early second semester of 2026,鈥� the center said.

The PPP Center is also drafting guidelines for health PPPs to support the initiatives of the Department of Health.

PPP Center Undersecretary and Executive Director Rizza Blanco-Latorre said the PPP Code streamlined the processing of PPP projects for LGUs, with each Sanggunian now empowered with project approval regardless of project cost.

As of May 15, 15 health PPP projects are in the pipeline worth P26.05 billion.

Overall, the PPP pipeline consists of 251 projects valued at P3.13 trillion. Of the total, 167 projects will be implemented by the National Government, while 64 projects will be overseen by LGUs.

Solicited projects numbered 195, while 56 were unsolicited proposals.

The railway sector accounted for P1.97 trillion of the project pipeline, followed by land transport (P277.26 billion) and property development (P221.46 billion). 鈥� Justine Irish D. Tabile

Agriculture Secretary Francisco P. Tiu Laurel, Jr. said on Tuesday that the cap on the 5% broken variety of imported rice 鈥� imposed by President Ferdinand R. Marcos, Jr. for 30 days starting May 14 鈥� assumed a landed cost of P37 to P38 per kilo, leaving a margin sufficient to cover logistics, shrinkage, and markups.

鈥淭here is still a workable margin across the value chain,鈥� Mr. Laurel said after inspecting rice prices at Paco Public Market. 鈥淲e are ensuring that consumers get affordable rice while traders and retailers remain viable. The goal is balance, not disruption.鈥�

鈥淔or the entire value chain 鈥� from importer to trader to retailer 鈥� the markup should only be around P10. If landed cost is P38, retail should be about P48,鈥� he said.

鈥淣o one should be profiteering, especially during this period,鈥� Mr. Laurel added.

Full enforcement of the price cap will begin next week, giving retailers and consumers time to adjust. DA field teams will monitor markets nationwide and distribute implementation guidelines with contact details for stakeholder concerns.

Meanwhile, Mr. Laurel said the DA has reached a consensus with the rice industry to set a suggested retail price of P53 per kilo for domestic rice, positioning it slightly above the imported rice ceiling.

The SRP 鈥渋s just a guide for consumers on fair local rice prices,鈥� he said, adding that market participants remain free to sell for less. 鈥淚鈥檝e consulted rice millers and industry groups, and P53 per kilo is acceptable.鈥�

A DA memorandum detailing price guidance for domestic rice will be issued shortly. 鈥� Pierce Oel A. Montalvo

Milk production rose to 43 million liters in 2025 鈥� equivalent to a 2.2% self-sufficiency rate, NDA Administrator Marcus Antonius T. Andaya said at a European Chamber of Commerce of the Philippines meeting at the Makati Shangri-La.

Mr. Andaya noted that Republic Act 12308 (the Animal Industry Development and Competitiveness Act) will support growth in the industry. The NDA will receive P1.5 billion annually over the next decade from the Animal Competitiveness and Enhancement Fund (ACEF).

For three decades, the Philippines produced only 1% of its total dairy requirements, with 99% imported, making the country one of the most import-dependent dairy markets in the region, Mr. Andaya said.

The administrator said the agency is targeting 53 million liters of production in 2026, equivalent to a 3.3% self-sufficiency rate.

鈥淭hese numbers tell us two things: First, our domestic dairy industry remains underdeveloped. Second, the room for growth is enormous. The challenge is significant, but so is the opportunity,鈥� Mr. Andaya said.

The NDA鈥檚 2026 budget increased to P2.37 billion from P500 million in 2025, with P1.8 billion earmarked for the Department of Education milk-feeding program.

For 2027, the NDA is proposing a General Appropriations Act allocation of up to P1 billion, not including the P1.5 billion from the ACEF. 鈥淭he NDA will have so much money that we have to spend,鈥� Mr. Andaya told reporters at the sidelines of the event.

He cited plans to import about 800 Holstein-Jersey cattle from Australia in August, with another 800 animals expected around October.

Mr. Andaya added that the NDA is 鈥渧ery optimistic鈥� about hitting the 53 million-liter target once the cattle arrive.

It currently operates four stock farms, with a fifth in Bukidnon set to become operational this year. Three additional 50-hectare facilities are planned for Sorsogon, Baguio, and Negros, each requiring approximately P50 million.

Despite the heavy reliance on imports, the Iran conflict has unexpectedly boosted demand for domestically produced fresh milk. Suppliers for the milk-feeding program now prefer local milk over imported powdered milk, after prices for the latter rose due to the war, Mr. Andaya said.

鈥淏efore, they wanted more powdered milk. But prices went up,鈥� Mr. Andaya said. 鈥淣ow they prefer less powdered milk, and more local.鈥�

Cattle import costs have also risen to approximately P220,000 per head, though Mr. Andaya said aggressive institutional support and feed provisions should keep production targets on track even with increased costs.

The NDA is also working with international partners, with the French development agency conducting a feasibility study expected to conclude in March for technology transfer at the Ubay, Bohol stock farm, while the Czech Republic has offered grant funding for farmer training. 鈥� Pierce Oel A. Montalvo