Ambani outlines Jio’s growth strategy post-IPO and its plans across the telecom and satcom space
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BAGANBAZAR GRAPHSource-attributed newsBUSINESS deskTHE Supreme Court (SC) struck down portions of the 2024, 2025 and 2026 General Appropriations Acts (GAA), ruling that Congress exceeded constitutional limits when it increased unprogrammed appropriations and other budget items beyond the amounts proposed by the President. “The SC ruled that unprogrammed appropriations are not unconstitutional per se,” the tribunal said in a statement on Tuesday, citing the decision written by Senior Associate Justice Marvic M.V.F. Leonen. “However, this budgetary item needs clear limits and safeguards to preserve fiscal discipline, transparency and accountability.” The tribunal declared Republic Act (RA) No. 11975, or the 2024 GAA, unconstitutional after Congress increased unprogrammed appropriations by P449.5 billion, resulting in an increase in the President’s total recommended appropriations. The SC also declared unconstitutional RA No. 12116, or the 2025 GAA, after Congress increased the Department of Public Works and Highways’ Special Road Fund by P17.99 billion, which likewise raised total appropriations beyond the President’s proposed budget. The ruling granted petitions filed by former Albay Rep. Edcel C. Lagman and others, former Senator Aquilino “Koko” Pimentel III and others, and the Filipinos for Peace, Justice and Progress Movement, Inc. The court separately struck down Special Provisions 1(a) and 1(b), Chapter XLIII of the 2026 GAA, which govern the release of unprogrammed appropriations. It said the provisions allowed the release of funds based on new or excess revenues without regard to whether overall government revenue targets had been exceeded, weakening fiscal discipline and departing from the constitutional framework governing public spending. The high court ruled that the constitutional ceiling on appropriations ap
BAGANBAZAR GRAPHSource-attributed newsBUSINESS deskTHE Commission on Audit (CoA) flagged the Bases Conversion and Development Authority (BCDA) over deficiencies in project planning, engineering, road right-of-way management and contract monitoring that delayed or led to the termination of seven infrastructure projects worth P7.91 billion. “Deficiencies in planning, detailed engineering, road right-of-way management and contract monitoring resulted in delays, repeated extensions of time and the eventual termination of contract for seven BCDA infrastructure projects costing P7.91 billion,” CoA said in its 2025 audit report. The audit agency said the deficiencies led to repeated deadline extensions and delayed the delivery of benefits to project beneficiaries. It cited violations of provisions of the revised implementing rules and regulations of the Government Procurement Reform Act. CoA also flagged the BCDA’s approval of extension requests despite contractors’ failure to submit written applications within the required period. “Extension of Time (EOT) requests were approved despite contractors’ failure to file their written requests within the mandatory period, while the corresponding liquidated damages were not computed and imposed on the delays not covered by valid and timely EOTs,” it said. Auditors said the BCDA took 90 to 176 calendar days to process and approve some extension requests and failed to impose liquidated damages on delays not covered by valid extensions. Separately, CoA flagged P22.325 million in uncollected lease receivables from the Association of Southeast Asian Nations Villas, which affected the state-run firm’s collection efforts. The audit agency also cited deficiencies in the monitoring and maintenance of condominium and parking units allocated to the BCDA under joint venture agreements. “BCDA’s a
BAGANBAZAR GRAPHSource-attributed newsBUSINESS deskA SENATE Finance Subcommittee on Tuesday endorsed the Office of the Vice-President’s (OVP) proposed P785.20-million budget for 2027, 11.67% lower than its P899.23-million allocation this year. Senator Joseph Victor G. Ejercito, chairman of the Senate Committee on Finance, approved the budget after Senator Maria Imelda R. Marcos moved to endorse it and Senator Christopher Lawrence T. Go seconded the motion. No senators objected. The senators extended parliamentary courtesy to the OVP, limiting their questions to its decision to seek a lower allocation for 2027. In a post-hearing interview, Mr. Ejercito said the OVP’s decision to scale down its budget was a “big thing” given the government’s limited fiscal space. Zuleika T. Lopez, OVP chief of staff, said the lower allocation reflected the recalibration of its programs. “This year, we’re concentrating on monitoring and evaluation and checking if [our outreach programs] actually have made an impact,” she said. OVP Director for Operations Norman B. Baloro said its flagship PagbaBAGo: A Million Learners and Trees Campaign was expected to reach its target of 1 million student beneficiaries nearly two years ahead of its 2028 deadline. The OVP’s Libreng Sakay program is expected to serve its 4 millionth passenger within the next two weeks, Ms. Lopez added. Senate President Sherwin T. Gatchalian said the lower allocation showed the OVP was spending “as efficiently and as wisely as possible.” Mr. Gatchalian asked why Vice-President Sara Duterte-Carpio was absent, noting that she attended the OVP’s budget hearings last year. “Traditionally, when budget deliberations are held, the head of office comes here to defend their budget,” he said. Ms. Lopez told Mr. Gatchalian that Ms. Duterte was representing former President Rodrigo R. D