The Board of Directors of the Power Sector Assets and Liabilities Management Corp. (PSALM) has approved the sale of four generation assets of the National Power Corporation (Napocor).

Finance Secretary Juanita D. Amatong, who chairs the PSALM board, said the government expects the proceeds from the sale to ease Napocor’s cash problem.

She said there are gencos (generation companies) that PSALM has already approved for privatization. "It would ease up the cash requirement of Napocor if we can sell them," she said after PSALM sealed the approval.

Among the assets to be disposed are the 22-megawatt Loboc Hydroelectric plant and the 2-megawatt Barit and 0.4 megawatt Cawayan hydroelectric plants. All will be sold as a package.

Also included in the list are the 3.5 megawatt Talomo and 1.55 megawatt Agusan hydroelectric plants.

Napocor is one of the state-owned companies in dire needs of funds to remain operational. Initial estimates showed Napocor would require some $2.4 billion this year to finance its costly operations and pay maturing loans.

While the government is yet to firm up the final amount, initial computation showed $400 million of its fund requirement would be used to pay $500 million in interests and $1.5 billion to state-run independent power producers.

The government is keen in working out the sale of Napocor’s assets considering the sizeable cash inflow they would contribute to the country’s coffers once disposed.

Earlier, the government had estimated that it could raise P136.5 billion once all the generating assets are sold.

"The estimated proceeds from Napocor’s privatization range from $4 billion to $4.5 billion. About half of that amount will come from Transco so, there are about $2 billion to $2.5 billion from gencos and they are broken up into so many different assets," Amatong said.

She said that the response from the energy sector has been favorable with different multinational groups and power companies showing keen interest.

"We have seen many requests for the information memo of generating assets. I personally have received serious offer from one of the gencos myself from an energy group that included a local company, Australian and Taiwanese companies," she said.

If the sale pushes through, the government could use the privatization proceeds to pare Napocor’s losses and ease the public sector financial burden.

The Electric Power Industry Reform Act (EPIRA) calls for the privatization of the generation and transmission subsectors to complete the restructuring of the country’s power industry.

President Gloria Macapagal-Arroyo "is more than justified" in saying that more jobs are now available to the people.

This is the conclusion of an analysis on the employment performance of the Macapagal-Arroyo administration undertaken by Albay Congressman Joey Sarte Salceda, chairman of the House Committee on Oversight (HCO).

Salceda said that the unemployment rate of 11 percent, reflected in the Bureau of Labor and Employment Statistics (BLES) survey in January 2004, "camouflages encouraging positive trends in the Philippine economy" under President Macapagal-Arroyo’s watch.

Salceda traced the 11 percent unemployment rate reported in the BLES January survey to "the surprisingly high labor participation rate of 67.2 percent."

"When surveyed in January 2004, 1.7 million more Filipinos answered that they looked for a job in the past week," he said. "This figure even exceeded the additional ‘15+ or working age population’ of only 1.4 million, a phenomenon seen only four times in the past 18 years."

The average rate of labor participation had only been 64.0 percent from 1986 to 2003.

"Assuming the historical average of the labor participation rate of 64.0 percent," he said, "then the unemployment rate in January 2004 would have been a historic feat of 6.5 percent, the lowest in the past 18 years. A labor participation rate of 7.7 percent was posted in January 1997, right before the Asian financial crisis."

Salceda said that the increase in labor participation rate means more people have decided to look for work, and this is "an evidence of labor confidence in the job prospects of the economy."

In the three years of her presidency, Mrs. Macapagal-Arroyo created 3.4 million jobs compared to only 405,000 jobs for the preceding administration of former President Joseph Estrada, according to Salceda’s analysis.

However, Salceda said that President Macapagal-Arroyo’s success in employment generation could not be readily seen, because her administration had to absorb "a huge spillover of unemployed, 2.4 million, from the Estrada administration."

Looking deeper into the latest BLES survey, he noted that "the 1.4 million jobs created YoY (year on year) in January 2004 (ranked) second to the 1.6 million, the highest (record in job generation) since 1986, also posted by the Macapagal-Arroyo administration."

Of the 1.4 million jobs created, he said that 466,000 were in the non-farm job category, which surpassed the record high of 463,000 non-farm jobs created in 1989.

Seventy-five percent of the non-farm employment, or 326,000, were created in the manufacturing sector, "also a historic high since 1986 with the second best of 235,000 posted in 1989," he said.

Salceda pointed out that "manufacturing jobs are generally better-paying and more stable. This is (also) better compared to the past two years when job growth was principally driven by agriculture."

According to the HCO chairman, the Macapagal-Arroyo administration has provided "better quality employment, with 2.2 million jobs created for wage and salaried workers versus only 82,000 additional jobs in the own-account sector."

"Of the wage-and salaried workers, 710,000 jobs were created in the private sector," he said. "The 710,000 increase in the private wage sector is an admirable record given the general weakness in investments."

Salceda said that the January 2004 BLES employment report "provides more reason to be optimistic."

I have fought for governance based on morality and upright conduct.

The records of PAGCOR pertaining to agreements and contracts in the operation of casinos are public documents.

The opposition is welcome to look into these records to verify the facts.

I shall fight for reasonable fare rates for the average Filipino.

The ordinary commuters should not be caught in a squeeze play between the government and transport groups.

On one hand, I have instructed all the agencies concerned to map out plans to cushion the effects of the planned nationwide transport strike on the commuting public, especially in Metro Manila and key urban areas.

On the other hand, we are sustaining principled negotiations with transport groups to come up with reasonable relief measures to alleviate their problems.

This is a crime against the people and shows a total disregard for the lives of ordinary civilians and the welfare of the community.

I condole with the families of the victims and assure them of justice, as government forces relentlessly go after those responsible for the attack.

CEBU CITY – When administration and opposition candidates descended on this so-called Queen City of the South for their respective campaigns over the weekend, Koalisyon ng Nagkakaisang Pilipino stalwarts, in a show of bragadoccio, claimed they would be out to prove that it is no Gloria Macapagal-Arroyo country.

They were dead wrong.

The President, who has traditionally gotten a big lift in her past election victories here, came and left with that reputation very much intact Saturday.

No less than Cebu City Mayor Tommy Osmeņa, a leading political figure here and scion of the Osmeņa clan that has exerted a great influence in the province for generations, summed up the chances of the opposition in three words: "Patay sila dito (they’re dead here)."

Osmeņa, grandson of former President Sergio Osmeņa, younger brother of Senator Serge and first cousin of former Gov. Lito, knows whereof he speaks.

Of the 52 mayors in the whole province of Cebu, not a single one, he said, is supporting opposition standard bearer Fernando Poe Jr.

"Not only that," he quickly added, "all but 10 of the 80 baranggay captains in the city support GMA."

"So, how can they win?" he asked. "It’s their claim that is a myth."

Asked why Cebuanos have always supported the President, Osmeņa explained: "Traditionally, Cebu, since the time of Marcos, has always carried the opposition vote. They voted against him and anything that he represents."

"But now it’s different," he continued. "The people very well know that there are Marcos and even Estrada lackeys now trying to get back into power. And they (Cebuanos) are ready to junk them again."

President Macapagal-Arroyo, according to him, is considered a daughter of Cebu, her mother Eva Macaraeg, having spent her teenage years here.

Even the President admitted this in her speech, delivered in fluent Cebuano, at the inauguration of the South Reclamation Project in Kawit Island Park here Friday. She recounted that her mom even celebrated her debut in the city and at one time was proclaimed Carnival Queen.

Her grandfather, Juanito Macaraeg, she said, was the district engineer when the South Road connecting Santander to the Cebu Port was being built.

This makes her, she said, a third generation Cebuano who will be completing what her grandfather had started.

Even former Trade and Industry Secretary Mar Roxas, who is running for senator under the administration slate, acknowledged that he himself is amazed at how the President has maintained the support of the three governatorial bets in the province without antagonizing anyone.

President Gloria Macapagal-Arroyo’s clear vision for the business community, particularly for the Cebuanos, is one of the main reasons why she remains to be the businessmen’s top choice among the presidential contenders in the May elections.

According to Benjie Akol, board member of the Cebu Chamber of Commerce and Industry (CCCI), the President is still their best choice for the presidential race because the promotion of the business sector is identified and contained in her priorities.

"Compared to others, she inunciates better the issues at hand and that’s an important character. The rest of the candidates have no platforms, while the President showed us what her agenda is," Akol pointed out during the induction of officers of the CCCI held at the grand ballroom of the Marriot Hotel in Cebu City.

Among the five presidential candidates, Akol noted that only the President was able to present a concrete program and government platforms.

Apart from her experience, another factor that made them select President Macapagal-Arroyo as their candidate in the May 10 polls, is her responsiveness and ability to discern the issues at hand specifically matters concerning business and industry, Akol said.

President Gloria’s ability to speak fluent Cebuano, according to Akol, is also a plus point on why "she is closer" to their heart. Akol added that the opposition will not be able to break the strong hold of the President in Cebu.

Total eradication of corruption would be the top priority of President Gloria Macapagal-Arroyo should she be given the chance in her quest for a full six-year term in the May 10 polls.

In an interview with Max Soliven’s IMPACT aired live over ABS-CBN cable channel (ANC) Friday night, President Gloria said she has made a strong start in ridding government of graft and corruption that even led to the investigation and dismissal from service of top officials and employees of the Bureau of Customs and the Bureau of Internal Revenue Commission, among others.

She added that even ranking officials such as an assistant secretary, a deputy commissioner and a deputy director were not spared from the lifestyle check which was implemented last year.

"I’m good in this campaign, World Bank has praised the government. Madami na ang naimbestigahan at kinasuhan (A number have already been investigated and charged), the President said.

The World Bank has particularly cited her administration’s effective implementation of the lifestyle check among government employees which led to the arrest of people in government involved in graft and corruption.

Malacaņang today rejected calls by the opposition for President Gloria Macapagal-Arroyo to withdraw her bid for a full six-year term in the May 10 elections.

In a radio interview with the RMN Network this morning, Presidential Spokesman Ignacio Bunye said that "it is unrealistic to expect the President to back out of the race at this stage."

Bunye pointed out that at this point in time, President Macapagal-Arroyo’s campaign enjoys a "strong momentum," with large numbers of political leaders and ordinary people coming out to support her.

"At ang ating Pangulo, kumbaga, ay nag-down payment na doon sa mga programa na dapat gawin para lalung umunlad ang ating bayan at kinakailangan magpatuloy ang mga programang nasimulan para tuloy-tuloy ‘yong progreso natin (And our President has already made ‘down payment’ based on ongoing programs for the country’s development and programs that have been started and must be continued for sustained growth)," Bunye said.

According to press reports, opposition presidential bet Raul Roco had urged Mrs. Macapagal-Arroyo to pull out of the May 10 elections so that she could concentrate on solving the country’s economic problems. Fernando Poe, Jr., her other rival, also wanted her to quit because of several disqualification cases filed against her.

Bunye dismissed the filing of disqualification cases against the President as "part of the dirty tricks campaign of the opposition."

A closer scrutiny of these cases will reveal that they are baseless, he added.

There is no truth to speculations that President Gloria Macapagal-Arroyo met with Macau casino mogul Stanley Ho and that the latter contributed to her campaign chest, Malacaņang stated today.

"The President was interviewed by Mr. Max Soliven yesterday (Friday) and she said she did not talk with Mr. Stanley Ho. There was no meeting," Presidential Spokesman Ignacio Bunye said in a radio interview this morning.

Philippine Gaming and Amusement Corp. chief Ephraim Genuino also told the President that Ho has not applied for any casino operation, Bunye added.

"That is not true. Whoever is spreading that is indulging in black propaganda," Bunye said about the alleged contribution.

The President’s visit to the Clark Special Economic Zone in Pampanga last Wednesday was for purposes of rest and to intercede with political leaders for her son Mickey who is running for a congressional seat in Pampanga.

President Gloria Macapagal-Arroyo has cited hybrid rice, also known as "Gloria Rice," as spawning a rice revolution in the countryside and has caught the interest of Japan and other major rice-importing countries.

"There is a rice revolution going on in our countryside which continues to revive our rural economy. This is also good news for our growing population which derives much of its daily nutritional needs from eating rice," the President added.

The President received a report from the Department of Agriculture that some Japanese investors are interested in buying the hybrid rice and seeds being produced in the country, which are also known as "Gloria Rice."

Agriculture Secretary Luis "Cito" Lorenzo reported to the President that some Japanese businessmen who have tasted the Philippines’ hybrid rice found it more delicious than the jasmine rice of Thailand.

"They were here to inspect our chicken but their attention was caught by hybrid rice. I told them that we still need to boost our stocks before we go into rice exportation," Lorenzo said.

In her provincial sorties, the President makes it a point to promote the high yielding "Gloria Rice," which is among the flagship programs of the administration’s agricultural modernization program.

She said the hybrid rice has opened new vistas to farmers, several of whom have become full-pledge entrepreneurs. "Our farmers are now into hybrid seed growing as well. Once we have a stable supply of hybrid rice, our government can help them transit into rice exportation," the President said.

According to the President, other countries have expressed an interest in buying commercial quantities of the country’s hybrid rice and its hybrid rice seeds. She cited Japan as a huge potential buyer of the Philippine-produced hybrid rice.

Businessmen from Malaysia and Indonesia have also expressed an interest in "Gloria Rice."

"In order to make the leap from being a rice importing country to that of Asia’s emerging hybrid rice exporter, we need to meet this year’s target of 600,000 hectares planted to hybrid rice," the President explained.

According to the Philippine Rice Research Institute (PhilRice), the President’s pitch for the hybrid rice program is extremely helpful to farmers.

"The more people know about hybrid rice, the easier it becomes for us to convince our farmers to try this high-yielding variety instead of sticking to ordinary inbred seeds," Dr. Frisco Malabanan of the Department of Agriculture‘s rice program said.

Dr. Malabanan said PhilRice continues to compile success stories of farmers who have experienced higher incomes and a better life as a result of the government’s hybrid rice commercialization program.