July 18, 2018, 10:40 am
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1 Philippine Peso = 0.06864 UAE Dirham
1 Philippine Peso = 2.00897 Albanian Lek
1 Philippine Peso = 0.03439 Neth Antilles Guilder
1 Philippine Peso = 0.50824 Argentine Peso
1 Philippine Peso = 0.02516 Australian Dollar
1 Philippine Peso = 0.03326 Aruba Florin
1 Philippine Peso = 0.03738 Barbados Dollar
1 Philippine Peso = 1.56345 Bangladesh Taka
1 Philippine Peso = 0.03139 Bulgarian Lev
1 Philippine Peso = 0.00707 Bahraini Dinar
1 Philippine Peso = 32.72248 Burundi Franc
1 Philippine Peso = 0.01869 Bermuda Dollar
1 Philippine Peso = 0.02526 Brunei Dollar
1 Philippine Peso = 0.1282 Bolivian Boliviano
1 Philippine Peso = 0.07195 Brazilian Real
1 Philippine Peso = 0.01869 Bahamian Dollar
1 Philippine Peso = 1.282 Bhutan Ngultrum
1 Philippine Peso = 0.19138 Botswana Pula
1 Philippine Peso = 374.13568 Belarus Ruble
1 Philippine Peso = 0.03734 Belize Dollar
1 Philippine Peso = 0.02459 Canadian Dollar
1 Philippine Peso = 0.01871 Swiss Franc
1 Philippine Peso = 12.14969 Chilean Peso
1 Philippine Peso = 0.12502 Chinese Yuan
1 Philippine Peso = 53.37133 Colombian Peso
1 Philippine Peso = 10.54401 Costa Rica Colon
1 Philippine Peso = 0.01869 Cuban Peso
1 Philippine Peso = 1.76603 Cape Verde Escudo
1 Philippine Peso = 0.4139 Czech Koruna
1 Philippine Peso = 3.31714 Djibouti Franc
1 Philippine Peso = 0.11919 Danish Krone
1 Philippine Peso = 0.92375 Dominican Peso
1 Philippine Peso = 2.19884 Algerian Dinar
1 Philippine Peso = 0.25015 Estonian Kroon
1 Philippine Peso = 0.3334 Egyptian Pound
1 Philippine Peso = 0.51037 Ethiopian Birr
1 Philippine Peso = 0.01599 Euro
1 Philippine Peso = 0.03902 Fiji Dollar
1 Philippine Peso = 0.01411 Falkland Islands Pound
1 Philippine Peso = 0.01412 British Pound
1 Philippine Peso = 0.08949 Ghanaian Cedi
1 Philippine Peso = 0.88526 Gambian Dalasi
1 Philippine Peso = 168.36105 Guinea Franc
1 Philippine Peso = 0.13998 Guatemala Quetzal
1 Philippine Peso = 3.87012 Guyana Dollar
1 Philippine Peso = 0.14665 Hong Kong Dollar
1 Philippine Peso = 0.44715 Honduras Lempira
1 Philippine Peso = 0.11858 Croatian Kuna
1 Philippine Peso = 1.25939 Haiti Gourde
1 Philippine Peso = 5.1596 Hungarian Forint
1 Philippine Peso = 268.604 Indonesian Rupiah
1 Philippine Peso = 0.06791 Israeli Shekel
1 Philippine Peso = 1.27993 Indian Rupee
1 Philippine Peso = 22.12671 Iraqi Dinar
1 Philippine Peso = 807.13885 Iran Rial
1 Philippine Peso = 2.0015 Iceland Krona
1 Philippine Peso = 2.42478 Jamaican Dollar
1 Philippine Peso = 0.01324 Jordanian Dinar
1 Philippine Peso = 2.09923 Japanese Yen
1 Philippine Peso = 1.87722 Kenyan Shilling
1 Philippine Peso = 1.27646 Kyrgyzstan Som
1 Philippine Peso = 75.63072 Cambodia Riel
1 Philippine Peso = 7.88806 Comoros Franc
1 Philippine Peso = 16.81929 North Korean Won
1 Philippine Peso = 21.08952 Korean Won
1 Philippine Peso = 0.00566 Kuwaiti Dinar
1 Philippine Peso = 0.01532 Cayman Islands Dollar
1 Philippine Peso = 6.39993 Kazakhstan Tenge
1 Philippine Peso = 157.01738 Lao Kip
1 Philippine Peso = 28.13493 Lebanese Pound
1 Philippine Peso = 2.97982 Sri Lanka Rupee
1 Philippine Peso = 2.97197 Liberian Dollar
1 Philippine Peso = 0.24762 Lesotho Loti
1 Philippine Peso = 0.05697 Lithuanian Lita
1 Philippine Peso = 0.0116 Latvian Lat
1 Philippine Peso = 0.02562 Libyan Dinar
1 Philippine Peso = 0.17688 Moroccan Dirham
1 Philippine Peso = 0.31088 Moldovan Leu
1 Philippine Peso = 0.98075 Macedonian Denar
1 Philippine Peso = 26.55578 Myanmar Kyat
1 Philippine Peso = 45.74846 Mongolian Tugrik
1 Philippine Peso = 0.15104 Macau Pataca
1 Philippine Peso = 6.63427 Mauritania Ougulya
1 Philippine Peso = 0.6382 Mauritius Rupee
1 Philippine Peso = 0.29097 Maldives Rufiyaa
1 Philippine Peso = 13.33283 Malawi Kwacha
1 Philippine Peso = 0.35287 Mexican Peso
1 Philippine Peso = 0.07569 Malaysian Ringgit
1 Philippine Peso = 0.24767 Namibian Dollar
1 Philippine Peso = 6.69034 Nigerian Naira
1 Philippine Peso = 0.58456 Nicaragua Cordoba
1 Philippine Peso = 0.15155 Norwegian Krone
1 Philippine Peso = 2.04691 Nepalese Rupee
1 Philippine Peso = 0.02764 New Zealand Dollar
1 Philippine Peso = 0.00719 Omani Rial
1 Philippine Peso = 0.01869 Panama Balboa
1 Philippine Peso = 0.06103 Peruvian Nuevo Sol
1 Philippine Peso = 0.06077 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.27135 Pakistani Rupee
1 Philippine Peso = 0.06898 Polish Zloty
1 Philippine Peso = 106.5969 Paraguayan Guarani
1 Philippine Peso = 0.06802 Qatar Rial
1 Philippine Peso = 0.07424 Romanian New Leu
1 Philippine Peso = 1.1686 Russian Rouble
1 Philippine Peso = 15.92992 Rwanda Franc
1 Philippine Peso = 0.07008 Saudi Arabian Riyal
1 Philippine Peso = 0.14699 Solomon Islands Dollar
1 Philippine Peso = 0.25089 Seychelles Rupee
1 Philippine Peso = 0.33555 Sudanese Pound
1 Philippine Peso = 0.16567 Swedish Krona
1 Philippine Peso = 0.02551 Singapore Dollar
1 Philippine Peso = 0.01412 St Helena Pound
1 Philippine Peso = 0.41499 Slovak Koruna
1 Philippine Peso = 153.24238 Sierra Leone Leone
1 Philippine Peso = 10.65221 Somali Shilling
1 Philippine Peso = 391.8333 Sao Tome Dobra
1 Philippine Peso = 0.16352 El Salvador Colon
1 Philippine Peso = 9.624 Syrian Pound
1 Philippine Peso = 0.24803 Swaziland Lilageni
1 Philippine Peso = 0.62213 Thai Baht
1 Philippine Peso = 0.04953 Tunisian Dinar
1 Philippine Peso = 0.04334 Tongan paʻanga
1 Philippine Peso = 0.09042 Turkish Lira
1 Philippine Peso = 0.12621 Trinidad Tobago Dollar
1 Philippine Peso = 0.57118 Taiwan Dollar
1 Philippine Peso = 42.3846 Tanzanian Shilling
1 Philippine Peso = 0.48981 Ukraine Hryvnia
1 Philippine Peso = 69.93085 Ugandan Shilling
1 Philippine Peso = 0.01869 United States Dollar
1 Philippine Peso = 0.58568 Uruguayan New Peso
1 Philippine Peso = 145.44945 Uzbekistan Sum
1 Philippine Peso = 2236.96505 Venezuelan Bolivar
1 Philippine Peso = 430.74192 Vietnam Dong
1 Philippine Peso = 2.06036 Vanuatu Vatu
1 Philippine Peso = 0.04858 Samoa Tala
1 Philippine Peso = 10.48103 CFA Franc (BEAC)
1 Philippine Peso = 0.05046 East Caribbean Dollar
1 Philippine Peso = 10.48103 CFA Franc (BCEAO)
1 Philippine Peso = 1.90563 Pacific Franc
1 Philippine Peso = 4.66922 Yemen Riyal
1 Philippine Peso = 0.24782 South African Rand
1 Philippine Peso = 96.98187 Zambian Kwacha
1 Philippine Peso = 6.76322 Zimbabwe dollar

Build. Build. Build.

THE DUTERTE administration is expected to launch big ticket infrastructure projects to drive economic growth in the next five years.

Build, build, and build. Under this mantra several government agencies are partnering to implement major projects involving railways, bridges, roads, airports and green city developments.

Manila-Clark Railway, a major project of the Department of Transportation (DOTr) when completed would guarantee one hour travel from Metro Manila to Clark International Airport. The other DOTr projects are Metro Manila Bus Rapid Train System, regional airport and Roll-on/Roll-off development projects

The Mindanao Railway which is targeted to start construction this year would mean a two-hour travel time from Davao to Surigao and Cagayan de Oro (CDO). The railway system would connect major cities such as CDO, Iligan, Zamboanga, Butuan, Surigao, Davao, and General Santos.

Projects under Bases Conversion and Development Authority (BCDA) include the Clark Green City, Clark International Airport new terminal building, Bonifacio Global City (BGC) to NAIA Bus Rapid Transit (BRT) system and Subic-Clark Cargo Railway project. The railway project is seen as a long term solution to highly congested traffic in Metro Manila by providing a more viable option (than trucks) for moving goods into and from the capital.

Department of Public Works and Highways (DPWH) projects which aim to address traffic and flooding include Santa Monica-Lawton- BGC linkbridge; UP-Miriam-Ateneo Viaduct; NLEX-SLEX connector road; Iloilo-Guimaras-Negros-Cebu link bridge and Davao City bypass construction project. 

These projects are expected to be completed in the next three to five years.

Infrastructure spending reached 5.4 percent of Gross Domestic Product (GDP) this year higher compared to five previous administrations.  The Marcos government spent 3.2 percent, Corazon Aquino, Ramos and Estrada spent 2.2 percent, Arroyo 1.9 percent and Aquino administration spent 2.9 percent.

According to International Monetary Fund (IMF), a sustained increase in public infrastructure spending to 5 percent of GDP would add a total of 5 to 6 percent growth to GDP after 15 years.

Aside from these projects, NEDA has cited several projects worth P200 billion have been lined-up for approval including North and South railway up to Bicol and the Cebu Port. Three other projects are in agriculture. 

Public Private Partnership (PPP)

Eleven major infrastructure projects under the PPP which were carried over from the previous administration are expected to be completed and be operational before the end of Duterte administration.

Conglomerates San Miguel Corp, Megawide Construction Corp. and Metro Pacific Investment Corp. (MPIC) and Ayala Corp. projects under construction and pre-constructions stage are expected to be finished in the next three to five years .

Construction of SMC’s Metro Manila Skyway (MMS) Stage 3 and MRT Line 7 project is ongoing.

The MRT 7 is a 22 kilometers elevated railway which will have 14 stations from Edsa (connected to MRT 3) to San del Monte, Bulacan. It is  expected to be finished by 2020.

The MMS or Skyway Stage 3 is 14.82 km., six-lane elevated expressway from Buendia to Balintawak that will link the South Luzon Expressway (SLEX) to NLEX was 19 percent completed as of November last year.

Megawide Construction Corp.’s three projects which include Southwest Terminal of the Integrated Transport System, Mactan Cebu International Airport and PPP for School Infrastructure Project (PSIP) are under construction .

Southwest Terminal of the Integrated Transport System (ITS), started in the fourth quarter last year has been targeted for completion by 2018 .

As of October last year, PPP Center said the MCIA passenger terminal is 35.19 percent completed and expected to be completed in the next three years.

The MPIC Group also has three major projects in the pipeline—LRT 1 extension to Cavite,  Cavite-Laguna Expressway and NLEX-SLEX connector road .

MPIC said Calax construction will start in the first half of this year, while the NLEX-SLEX connector road is expected to begin construction this year if the government would be able to turn-over the right of way for the phase 1.

Light Rail Manila Corp., a consortium of MPIC and Ayala which operates LRT1, said that construction of the LRT extension to Cavite will start in the second quarter.

The Duterte administration is keen on continuing the bidding on PPP projects left by the previous administration.

Last week, DOTr has started the bidding of five unbundled regional airports namely, Bacolod-Silay airport for P 20.26 billion, Davao airport worth P 40.57 billion, New Iloilo airport for P 30.40 billion, Laguindingan for P 14.62 billion, and New Bohol (Panglao)  worth P 4.57 billion .

The Ninoy Aquino International Airport (NAIA) Development project budgeted at P 74.56 billion was approved by NEDA last September and is expected to be bid out this year. Several conglomerates have already expressed interest. 

For the project, the private partner will improve, upgrade and enhance the operational efficiencies of all existing terminals of the NAIA covering both landside and airside, except air traffic services.

Other projects still lined up for bidding include Light Rail Transit (LRT 2) operation and maintenance, regional prison facilities, LRT Line 6 rail extension to Dasmarinas Cavite, Road Transport Information Technology Infrastructure among others.

The DPWH’s P 122.8 Billion Laguna Lakeshore project is expected to go back to the conceptualization stage. The agency is considering revising the bid term and securing a new NEDA approval after last year’s failed bidding.

As of December last year, four projects worth P 31.77 billion have been completed and are operational. These include Muntinlupa-Cavite Expressway, PPP for School Infrastructure project, Automated Fare Collection System (AFCS), and NAIA Expressway Phase II.

Telecommunications

The Department of Information and Communications Technology (DICT) has submitted a proposal to President Duterte to build a national broadband infrastructure using the fiber-optic cable network of the National Grid Corp. of the Philippines (NGCP) with the goal of delivering fast internet to unserved and underserved areas in the country 

DICT is optimistic about implementing the project in three years using the privately-owned NGCP’s  5,000 to 10,000 fiber optic cable running from North to South. This could allow the government to deploy broadband internet in the government agencies in the countryside.

A  National broadband plan, which would ideally address the issues of high cost and slow internet connections, would be submitted for approval.

DICT is looking at partnerships with private sector to help finance the project rollout .

The project is estimated to cost from P 77 billion to P 200 billion if the NGCP would allow the government the use of the land and fiber network to deliver broadband. This cost would be higher if the government would build its own infrastructure. 
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Column of the Day

Tearing down the house (Second of a series)

Jego Ragragio's picture
By Jego Ragragio | July 18,2018
‘The draft Federal Constitution is a clear example of tearing a house down in order to install a new door—where the new door goes into an existing door jamb. There’s barely anything new here, and the few things that are new, don’t actually need a constitutional amendment.’

Opinion of the Day

Heed this constitutional expert’s warning

Ellen Tordesillas's picture
By ELLEN TORDESILLAS | July 18, 2018
‘The critique of Gene Lacza Pilapil, assistant professor of Political Science at the University of the Philippines-Diliman, one of the resource persons, should warn us about the draft Federal Constitution produced by the Duterte-created Consultative Committee.’