P.Noy » Policy

Aquino orders ban on new mining contracts

admin — Mon, 09 Jul 2012 12:13:20 +0000

Aerial photo of a mining operation in Iponan River. (Contributed photo)

MANILA (Updated 3:13 p.m.) — Malacañang released Monday the much-anticipated Executive Order (EO) 79 that prohibits the Environment department from signing new mineral agreements until a new law on revenue sharing schemes and mechanisms is passed.

Section 4 of the EO says: “No mineral agreements shall be entered into until a legislation rationalizing existing revenue sharing schemes and mechanisms shall have taken effect.” Read more

Church cautious on Aquino’s mining policy

admin — Sun, 08 Jul 2012 13:39:22 +0000

THE details have yet to be revealed but the Catholic Church believes the upcoming executive order of President Benigno Aquino III on mining will not cure the ill-effects of the multi-billion dollar industry to the environment and communities.

Members of the Catholic Bishops’ Conference of the Philippines (CBCP) said they are not totally against mining but measures should be required to safeguard the environment, and protect the rights of indigenous groups, who are normally displaced because of these projects.Read more

Aquino inks executive order on mining

admin — Sun, 08 Jul 2012 13:37:42 +0000

MANILA — Malacañang confirmed on Saturday that President Benigno Aquino III has signed his administration’s executive order (EO) on mining policies.

Presidential spokesperson Edwin Lacierda, in an interview over dzRB Radyo ng Bayan, said the copy of the EO could possibly be disclosed on Monday. Read more

Aquino: Credit rating upgrade ‘nod to fiscal policy’

admin — Thu, 05 Jul 2012 09:12:26 +0000

The Philippine government said Thursday that a credit rating upgrade by Standard & Poor’s (S&Ps) will help the country carry out reforms without weakening its financial position.

The agency raised on Wednesday the Philippines’ long-term foreign currency credit rating to BB+ from BB, one notch below investment grade. It kept the rating outlook at stable. (Read more)