Latest news with #GeneralAppropriationsAct
GMA Network
3 days ago
- Business
- GMA Network
Marcos: Fuel subsidies to be provided in expected oil price hike
President Ferdinand ''Bongbong'' Marcos Jr. on Wednesday said that fuel subsidies would be given as oil prices are expected to rise amid the tension between Israel and Iran. In an interview with reporters, Marcos was asked how the Philippine government is bracing for the expected impact of the conflict. ''We are starting already with the assumption that the oil prices will in fact go up and I cannot see how it will not. Because the Strait of Hormuz will then be blocked if it escalates. The oil cannot come out of its sources. So the prices will certainly be affected,'' Marcos said. ''So the subsidies that we have always given, fuel subsidies, that we gave to, if you remember during the pandemic, lalong-lalong na 'yung mga napapasada, 'yung mga may hanap-buhay naman sila, binigyan nating fuel subsidies (We gave fuel subsidies to drivers during the pandemic)," he added. The president also said that the fuel subsidy will also include others who will be "severely affected." "Now we will have to do the same for those who are severely affected, stakeholders, by any instability in the price of oil. Yes, it's a serious problem,'' said Marcos. Under the existing policy, fuel subsidies for public transport drivers and farmers are automatically activated when the price of Dubai crude breaches $80 per barrel. Fuel prices The 2025 General Appropriations Act (GAA) provides an allocation of P2.5 billion through the Department of Transportation for fuel subsidies to drivers of public utility vehicles, taxis, ride-hailing services, and delivery platforms across the country. The President earlier tasked the Department of Energy to strictly monitor the tension in the Middle East as this is expected to affect fuel prices. The conflict between Iran and Israel began last Friday when the latter attacked Iran with air strikes. The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected pump price hikes this week, citing gains on positive US-China trade signals, the stall in nuclear negotiations between US and Iran, and the expected oil demand growth in the next two and a half decades. The DOE is already on alert and is implementing proactive and targeted measures to shield the economy and Filipino consumers against the negative effects of the escalating tensions between the two countries. DOE Officer-in-Charge (OIC) Sharon Garin said that the immediate priority is to ensure that the fuel supply remains stable and sufficient and that any local price adjustments are managed in a way that minimizes disruption to the Philippine economy. The agency also called on industry players to 'implement staggered fuel price adjustments, especially in cases of sudden and significant spikes in global oil prices, in order to cushion the impact on local consumers." As of June 16, the price of Dubai crude reached $73 per barrel, according to the DOE. Meanwhile, Marcos also said that there is no need yet for mandatory repatriation despite the ongoing conflict between Iran and Israel. —VAL, GMA Integrated News
GMA Network
4 days ago
- Business
- GMA Network
DOE appeals: Stagger price hikes in case of sudden spikes amid Israel-Iran tensions
The Department of Energy (DOE) is on alert as global petroleum prices rise amid the escalating tensions between Israel and Iran and is now implementing proactive and targeted measures to shield the economy and Filipino consumers. 'As we face continued volatility in the global oil market, the Department of Energy is taking firm and proactive steps to protect the welfare of our people,' DOE Officer-in-Charge (OIC) Sharon Garin said in a statement on Tuesday. 'Our immediate priority is to ensure that our fuel supply remains stable and sufficient, and that any local price adjustments are managed in a way that minimizes disruption to our economy. Through close coordination with the oil industry and strict monitoring of inventory levels, we are working to maintain energy security while preparing targeted interventions to support the most affected sectors,' Garin added. Thus, the Energy Department appealed to industry players to 'implement staggered fuel price adjustments, especially in cases of sudden and significant spikes in global oil prices, in order to cushion the impact on local consumers.' As of June 16, the price of Dubai crude reached $73 per barrel, according to the DOE. With this, the Energy OIC said the government is prepared to roll out fuel subsidies to sectors directly impacted by fuel price increases, specifically transport and agriculture. Fuel subsidies are aimed to prevent a domino effect that could drive up the cost of basic goods and services. Under existing policy, fuel subsidies for public transport drivers and farmers are automatically activated when the price of Dubai crude breaches $80 per barrel. The 2025 General Appropriations Act (GAA) provides an allocation of P2.5 billion through the Department of Transportation for fuel subsidies to drivers of public utility vehicles, taxis, ride-hailing services, and delivery platforms nationwide. Meanwhile, the Department of Agriculture has an allocation of P585 million to support farmers and fisherfolk in the agricultural sector who may be adversely affected by rising fuel costs. Garin said the DOE will continue to monitor and analyze real-time global energy market data to inform timely, evidence-based policy responses. Oil companies are currently mandated to maintain at least a 30-day inventory of crude oil and a 15-day inventory of finished petroleum products. — BAP, GMA Integrated News
GMA Network
26-05-2025
- Politics
- GMA Network
DepEd: Classroom shortage still at 165,000
'We're now at around 165,000 [classroom shortage] and growing kasi hindi na kakayanin nung current budget to meet the ano eh… It would take us 30 years, probably, if we work with the current budget,' Angara told reporters. Department of Education (DepEd) Secretary Sonny Angara on Monday said the classroom backlog nationwide still stands at 165,000—a problem expected to have once again an impact when the incoming school year starts. Three weeks before School Year 2025-2026 opens on June 16, Angara admitted that some public schools may again need to implement shifting of classes—some double, others triple, even—due to the lack of classrooms. 'We're now at around 165,000 [classroom shortage] and growing kasi hindi na kakayanin nung current budget to meet the ano eh… It would take us 30 years, probably, if we work with the current budget,' Angara told reporters. (We're now at around 165,000 classroom shortage and growing because the current budget will not be able to meet the need to construct these. It would take us 30 years, probably, if we work with the current budget.) 'Buong bansa kasi ang kakulangan eh especially in populated areas like Region 4-A and NCR, grabe 'yung… All the cities actually all over the country, mataas ang backlog,' he added. (The classroom shortage is all over the country, especially in populated areas like Region 4-A and NCR, it's serious... The classroom backlog in all the cities in the country is high. There are hundreds of thousands per city.) School Year 2025-2026 is set to open on June 16, 2025 and end on March 31, 2026. Angara underscored the need to provide a strong internet connection in key areas so that 'independent learners,' particularly incoming senior high school students, may be able to study at home, just like in other countries. Under the 2025 General Appropriations Act (GAA), P28 billion was appropriated in DepEd's budget for the basic education facilities, which includes P7.18 billion for the construction of new kindergarten, elementary, and secondary school buildings. It also includes a P6.13 billion budget for the rehabilitation, renovation, repair, and improvement of the school buildings under the 'Repair All Policy." 'Para 'yung mga kailangan talagang nasa loob ng classroom, kailangan kausap talaga ang mga teachers, 'yun 'yung mga Nursery, Grade 1, Kindergarten dahil 'yun palang ang natututo at kailangan matuto magbasa, kailangan matuto magsalita. 'Yan talaga kailangan nasa loob ng classroom,' he explained. (This is so learners who really need to be in classrooms and learn directly from teachers—those in Nursery, Kindergarten, and Grade 1—will be able to occupy the classrooms instead.) Angara on Monday afternoon attended the launch of Generation Hope—a partnership of several brands with DepEd to help address the urgent need of building more public school classrooms in the country. The DepEd chief emphasized that such a partnership would help hasten the classroom construction and also help DepEd in meeting its deficits, considering the incoming school year. 'Malaking bagay 'to kasi nga diba nabawasan kami ng budget nitong 2025 so ito, makakatulong do'n sa kakulangan natin sa classrooms. 'Yung ibang programa ng DepEd, mabigyan ng focus tapos may katulong tayo dito,' he said. (This is a big help because our budget for 2025 was cut, so this will help address our lack of classrooms. The DepEd can focus on its other programs, and we will be assisted in classroom construction.) –NB, GMA Integrated News
GMA Network
19-05-2025
- Business
- GMA Network
DBM OKs creation of 16,000 new teaching positions for 2025
Department of Budget and Management Secretary Amenah Pangandaman has approved the creation of 16,000 new teaching positions in public schools for School Year 2025–2026. In a press release, the DBM said it is in line with President Ferdinand ''Bongbong'' Marcos Jr.'s directive to strengthen the education sector and ensure sufficient manpower in public schools. The new teaching positions form the first tranche of the 20,000 positions targeted for creation this year, the DBM said. 'The DBM's approval of the 16,000 new teaching positions is in adherence to our President's directive to strengthen our country's education system. This move is also in support of the Department of Education's efforts to boost the teaching workforce across Kindergarten, Elementary, Junior High School, Senior High School, and the Alternative Learning System,' Pangandaman said in a press release. The approved new positions include the following: 15,343 Teacher I posts (Salary Grade 11) 157 Special Science Teachers (Salary Grade 13) 500 Special Education (SPED) Teachers (Salary Grade 14) The DBM said that for added flexibility, the Senior High School teaching positions will be created at the division level. This will allow School Division Superintendents to transfer or reassign them to where they're most needed. The P4.194 billion needed to fund the new items will come from the Department of Education's built-in appropriations under the 2025 General Appropriations Act, which was specifically earmarked for hiring new school personnel. —AOL, GMA Integrated News
Yahoo
27-03-2025
- Business
- Yahoo
Florida House proposes largest sales tax cut in state history
Related video: Gov. DeSantis holds a press conferences in Tallahassee TALLAHASSEE, Fla. (WFLA) — The Florida House of Representatives is proposing the largest cut to sales tax in state history, from 6% to 5.25%. House Speaker Daniel Perez announced the proposal during a speech about the state budget to the House Chamber on Wednesday. The budget, formally called the General Appropriations Act, will be published on Friday, Perez said. 'Members, the proposed House GAA will be historic,' Perez said. 'Our budget will not only be lower than the Governor's proposed budget, it will also be lower than the budget passed by the Legislature last term.' The proposed budget from Gov. DeSantis comes in at $115.6 billion and an FAQ published by his office says this would be a $3 billion reduction from the 2024-25 budget. Perez said the state has a spending problem and that the permanent .75% cut will save Floridians almost $5 billion per year. The current 6% sales tax has been in place since 1988, and if this cut is approved, Perez said it will make Florida the only state to have permanently reduced its sales tax. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
