MANILA - President Rodrigo R. Duterte has signed an administrative order (AO) that directs all non-bank government entities to formulate investment governance frameworks for foreign exchange (FX) derivatives transactions. AO 28, signed by Duterte on May 24, was released on Thursday. "There is a need to institute sufficient monitoring safeguards and risk management mechanisms in FX derivatives transactions to protect the National Government's fiscal and economic interests in non-bank government entities," the AO read. Under the AO, the regulation of FX derivatives transactions of non-bank government entities supports the objective to configure the country's public sector debt profile, such that government debt involves extended maturities, and ensures an optimum mix of currencies, to minimize the impacts of drastic currency movements. The Department of Finance (DOF) will oversee "all FX derivatives activities of all non-bank government entities, including governme
THE GSIS Head Office in Pasay City has secured the Safety Seal Certification from the Department of the Interior and Local Government to assure the public that standard public health and safety protocols are being observed to protect clients from Covid-19. GSIS’s application was based on the Joint Memorandum Circular…
ROLL-OUT. Agriculture Secretary William Dar says during a press briefer on Wednesday (March 16, 2022) the rollout of the fuel subsidy to farmers and fishers will kick off in Tacloban, Leyte on Thursday (March 17. 2022) during the visit of President Rodrigo Duterte. Dar said there is a possibility for a second tranche of the program with bigger financing. (Screengrab) MANILA - Farmers and fishers in Leyte will be the pioneer recipients of the Department of Agriculture's (DA) Fuel Subsidy Program. In an interview with the Philippine News Agency on Wednesday, the DA said the program will kick off during President Rodrigo Duterte's visit to Tacloban, Leyte on Thursday, March 17. Duterte raised the DA budget with a PHP24-billion top-up early this month. The portion of the additional fund will go to the PHP500-million Fuel Subsidy Program. The subsidy will be divided between the farmers and fishers. In his guesting at the "Laging Handa" briefing, DA Secretary William Dar sa