Bilyonaryo - Business

Wait lang! Marcos says he will let go of DA post only after fixing agriculture ‘value chain’

January 24, 2023

Bilyonaryo.com

President Bongbong Marcos is not in a rush to appoint a full-time secretary for the Department of Agriculture (DA) despite criticisms that his moonlighting in such a key post has led to a surge in commodity prices, specifically sugar and onion.

In a briefing, Marcos said improving agriculture production and delivery from farm to tables was his main goal when he decided to take a direct hand in the DA six months ago.

“We come back to the problem of production. Once I know that the value chain has already been put together and we have the means – then, we will have a Secretary who will then take my place and will implement that plan. Basta’t alam nating nakakaintindi doon sa ating ginagawa,” Marcos said in an interview Monday night.

Marcos also felt the DA was in need of “some reorganization” or “restructuring the bureaucracy” for “the simple reason that we are doing different things from what they were doing before.”

Former Arroyo Cabinet Secretary Rigoberto Tiglao said Marcos’ decision to take charge of the DA was a “wrong move.”

“I can’t understand why Marcos took the job of concurrent agriculture secretary (which no other president has done) when he really hasn’t any experience in managing a huge bureaucracy nor does he have any expertise in agricultural production. Hubris, that only he alone could do the job?” he asked.

ALSO READ:

Marcos brands sugar, onion price speculation as normal: ‘You call that hoarding but it’s a business practice we hope to avoid’

Ibigay na lang sa iba! Tiglao urges Marcos: Resign as Agriculture Secretary

Related News Tags: Bongbong Marcos, Commodity prices, specifically sugar

Sy-blings take over Podium complex with acquisition of partner’s equity interest

The banking arm of the bilyonaryo Sy family, BDO Unibank Inc., is acquiring the entire equity interests of Keppel Philippines Properties Inc. and Opon-KE Properties in SM Keppel Land Inc. (SMKL), owner and developer of the Podium complex located in Ortigas.

Lucio Tan’s tobacco business suffers as excise taxes bite

Philippine Morris Fortune Tobacco Corp., the joint venture between bilyonaryo Lucio Tan’s Fortune Tobacco Corp. and global giant Philip Morris, is set to continue feeling the impact of higher excise taxes.

Unopposed: Mike Tan’s allies sweep FFCCCII elections with Hapee’s Cecilio Pedro as new president

Lamoiyan-Hapee president and CEO Cecilio Pedro won as the new president of the Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII).

Boardroom drama: Top exec storms out of boardroom meeting after getting called out by bilyonaryo director for poor performance

A recent boardroom meeting at a major blue chip company turned into a heated exchange between a top exec and one of the directors.

Holcim Philippines struggles with lower revenues and rising energy costs

Cement giant Holcim Philippines’ net income dropped by 63 percent to P941.8 million in the past year, mainly due to reduced sales and increased production costs.