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southeastasianists · 5 years ago

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Under a bridge on the outskirts of Kuala Lumpur sits a small huddle of dilapidated shipping containers – each divided into two levels, carpeted with canvas sheets and ventilated by small whirring table fans.

For 65 Bangladeshi construction workers these containers are home, and as Malaysia enters its sixth week of a national lockdown to stem the spread of Covid-19 – during which most workplaces are closed and non-essential activities suspended – migrants living in these cramped, close quarters are beginning to feel the pangs of hunger as their money slowly runs out.

“We have not been paid since February because of the lockdown in mid-March,” said Mohamad Hanif, who has been living in one of the containers since he arrived in Malaysia last year. Although as a group they have scraped together everything they had to buy groceries during the lockdown period, nothing lasts forever.

“We cook communally. Our meals are usually rice, some vegetables with lentil curry. But it is difficult now because there isn’t money, there isn’t enough food to go around and we are all hungry. We need help.”

Mohamad Hanif’s situation isn’t unique. Malaysia is a temporary home to an estimated 5.5 million migrant workers – more than half of whom, about 3.3 million, are undocumented – from countries across Asia, but mostly Indonesia, Bangladesh and Nepal. They are employed in sectors such as construction, security and manufacturing: jobs that employers refer to as “3D” – dangerous, dirty and difficult.

Activists say many of these workers are subject to numerous human rights violations, from non-payment of wages by unscrupulous bosses to physical abuse, trafficking and debt bondage. Now, as the coronavirus pandemic sweeps the globe, their cramped living quarters mean they are at greater risk than most of infecting each other.

The lack of space for any sort of physical distancing is even more keenly felt under lockdown, as these small rooms become workers’ quarantine cells. Before, many would have spent much of the day working, running errands or spending free time outside.

“Others were shift workers so the house was never too full at any one time,” said Sumitha Shaanthinni Kishna, director of Kuala Lumpur-based migrant rights NGO Our Journey. “But now that everyone has to stay home with the lockdown, conditions are far more cramped.”

Although Sumitha’s NGO was primarily set up to help with legal matters, since the lockdown began on March 18, its members have been hand-delivering groceries to migrant workers across Selangor and Kuala Lumpur, after obtaining permission to do so through various countries’ embassies.

For most areas, she and her volunteers collect addresses and phone numbers before dropping off groceries individually, but in some government-designated “red zones” – high-risk areas with more than 41 active cases – her team leaves dry goods such as eggs, potatoes, rice and oil with representatives from the Department of Social Welfare to distribute.

One such red zone encompasses Selangor Mansion and Malayan Mansion, two blocks of flats offering low-cost accommodation that have been placed under an enhanced movement control order which prohibits anyone from entering or exiting. About 5,000 people – mostly migrant workers who average 10 people to a three- or four-room unit, for which they typically pay about 2,500 ringgit (US$575) per month – live in these buildings, which are now barricaded with barbed wire and patrolled by security forces.

“The most packed unit I have encountered had 24 residents. People living in Selangor Mansion have told me they feel claustrophobic, that it’s become very noisy,” Sumitha said.

Another red zone is in the township of Selayang, which straddles Kuala Lumpur and Selangor, Malaysia’s richest state. An enhanced movement control order in this area has seen an entire wet market cordoned off, as well as nearby residential buildings. Shamim Miah, a Bangladeshi student who shares a flat with five others in one of the buildings, has been unable to leave to get food for days, and soon it will be the Muslim holy fasting month of Ramadan.

“We have no food, we are scared. Help us, please,” he said.

For now, no infection clusters have emerged among migrant workers in Malaysia, unlike in neighbouring Singapore, where some 80 per cent of its more than 10,000 infections emanate from the 320,000-strong migrant worker community.

The city state, whose partial lockdown termed a “circuit breaker” was this week extended until June 1, now has the most cases of any country in Southeast Asia. It is screening thousands of workers every day and Malaysia’s top health official last week said it would “learn from Singapore” and embark on large-scale screening of the community.

The surge in infections in Singapore this month has sparked criticism of the government there for not taking action earlier to stop the spread of the virus within its 42 huge dormitory complexes, where thousands of workers sleep on bunk beds – between 12 and 20 to a room – and hundreds share communal bathroom and kitchen facilities.

Singapore also houses low-wage workers in about 1,200 industrial or warehouse developments which have been partially converted into dormitories that typically house 50 to 100 workers each, as well as in temporary living quarters on construction sites that have room for around 40 workers.

Residents’ groups in the city state have begun raising funds and collecting donations of food to help migrant workers.

In Malaysia, similar awareness of the dire living conditions of low-wage foreign workers is spreading.

But this has yielded a mix of both compassion and xenophobic sentiment. Earlier in the month, misinformation about urine-filled plastic bags being hurled at armed forces personnel patrolling the grounds of Selangor Mansion had to be refuted by Malaysia’s defence chief after online commentators accused foreign workers of being ungrateful, while some Malaysians questioned why the government had to supply food to these workers.

Migrant workers are disproportionately affected by the government’s lockdown, said M. Ramachelvam, deputy president of the National Human Rights Society. Besides a lack of decent housing and precarious employment, access to health care is a concern: under Malaysian law, doctors must report undocumented migrants seeking health care to the authorities, creating a culture of fear.

“There should be a moratorium against the arrest and detention of migrants for immigration related offences during this pandemic, ” said Ramachelvam, also urging the government to not discriminate when providing health care. So far, more than 14,000 migrant workers have been tested for Covid-19 virus, with 676 positive cases.

In early April, Defence Minister Ismail Sabri Yaakob said the welfare of foreigners was the responsibility of “their respective embassies”, just days after promising that the government would provide these workers with food supplies. Currently the areas under enhanced lockdowns are receiving food from several sources, including NGOs and public donations, as well as government agencies.

Now, with tensions at a high as the lockdown begins to bite, incomes depletedand the threat of an economic recession on the horizon, rights groups have expressed the concern that migrant workers will become scapegoats.

“The sentiment to deny aid to those without documentation in our country is based on xenophobia and will harm those who are most in need in these difficult times,” said migrant rights group Tenaganita in a statement, pointing out that undocumented migrants and refugees without stable work or who rely on a daily wage were disproportionately affected by the movement control order.

“There have been countless reports from the migrant and refugee communities of people going hungry and there are no government policies in place that protect them.”

Tenaganita and other NGOs have rallied together to ensure that aid is doled out. Organisations or civil society groups such as the Malaysian Trades Union Congress, Bersih and Engage have collected money or groceries from members of the public to help vulnerable groups. However, because of travel restrictions under the movement control order, only so much ground can be covered.

“We have to adhere to social distancing and other guidelines, and go to homes one by one. Some workers are too scared to leave their homes because they don’t have their passports. Some don’t even know how to tell us their house addresses,” said Sumitha of NGO Our Journey.

The fact that migrant workers were scattered across the country was another barrier to them receiving help, said Indonesian migrant rights activist Nasrikah, who goes by only one name.

“It’s very difficult to get aid to rural areas even though NGOs and the embassy are giving some support.”

Women’s rights groups say female migrant workers are particularly vulnerable in this period.

Liezl Galdo, who heads the organising committee of AMMPO, an organisation that lobbies for the rights of Filipino domestic workers in Malaysia, has received complaints of employers refusing to give them food.

“One woman who reached out to me said that when she rested on Sunday, her legally mandated day off, her employer withheld lunch and dinner. Another was not allowed to leave the house to go to the bank to send money back to her family,” she said, pointing out that as domestic workers are stuck at home with their employers, they are more vulnerable to abuse.

For other migrant workers such as Sulaiman, 42, housing is not the main issue, although the small two-storey house that the Bangladeshi construction worker shares with 29 other men – all sleeping upstairs – is certainly cramped

Their more pressing concern, however, is that food is running out – the men keep meals to a bare minimum so as not to use up everything they have left.

“We eat bread, rice. We haven’t had vegetables or meat in a while. We didn’t receive any sort of allowance when the lockdown was declared,” said Sulaiman, adding that it was difficult for some of them to even leave the house as their employers had kept their passports.

“We give each other space as much as we can, and have moved some chairs to the veranda so we can at least get some fresh air. We pray together upstairs. We can survive these housing conditions, there is nothing wrong with the house. We can endure – right now we just need food.”

#human rights #migrant workers #migrant labour #labour rights #malaysia #xenophobia #food security #coronavirus #covid-19

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credgenics · 2 years ago

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Credgenics is India’s leading Debt Collections platform. We work with financial institutions, Banks, NBFCs, ARCs & Digital lending firms to improve their collections efficiency using technology, automation intelligence and optimal legal routes in order to expedite the recovery of bad loans.

Credgenics is working with leading banks and non-banking finance companies in Indonesia to enable them to reimagine their traditional approach to debt collections. Read this interview where Hendra Rahman, Country Manager, Credgenics Indonesia, spoke to Koran Tempo, a part of PT Tempo Inti Media Tbk, and explained how Credgenics is disrupting debt collections with its digital-first and analytics-driven innovative platform.

#Loan Collection Software in Indonesia #Debt Recovery Platform in Indonesia #Best Debt Recovery Company in Indonesia #Loan Collection Platform in Indonesia

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mainduakaliaja · 2 years ago

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Menjawab Mitos: Debt Collector Takut Dengan Garam

Anda mungkin telah mendengar anggapan umum bahwa penagih hutang takut dengan garam. Masukkan sepotong garam ke dalam peti surat mereka, dan mereka akan pergi dan tidak kembali lagi. Ternyata, anggapan ini tidak sepenuhnya benar. Penagih hutang hanya mengikuti aturan yang ditetapkan oleh pemberi pinjaman, yang seringkali melarang mereka untuk mengambil tindakan agresif seperti itu.

Apa Itu Debt Collector?

Debt Collector adalah sebuah perusahaan yang mengumpulkan tagihan yang telah terlambat dibayarkan. Debt Collector biasanya akan menelepon Anda untuk mengingatkan Anda bahwa Anda memiliki tagihan yang belum dibayar, dan juga untuk mencari tahu apakah Anda memiliki uang untuk menyelesaikan tagihan tersebut. Jika Anda tidak dapat membayar tagihan Anda, Debt Collector mungkin akan mencoba untuk menagih tagihan dengan cara lain, seperti melalui surat atau email.

Fungsi Debt Collector

Debt collector atau penagih hutang adalah sebuah profesi yang menuntut keberanian dan ketelatenan. Banyak orang memiliki opini negatif terhadap profesi ini, tapi sebenarnya mereka salah. Debt collector bukanlah orang yang takut dengan garam, melainkan orang yang berani menghadapi tantangan.

Penagih hutang bukanlah pekerjaan yang mudah. Mereka harus berhadapan dengan pelanggan yang tidak mau membayar utang, dan seringkali harus menghadapi marah dan ejekan. Tapi para debt collector tetap semangat dalam menjalani pekerjaannya karena mereka tahu bahwa profesi ini sangat penting untuk dunia usaha. Tanpa adanya penagih hutang, banyak perusahaan akan bangkrut karena tidak mampu melunasi utang-utangnya.

Apakah Garam Dapat Membantu Menangkal Debt Collector?

Sebagian besar orang Indonesia pasti pernah mendengar tentang mitos garam yang dapat menangkal debt collector. Banyak yang percaya akan kekuatan magis dari garam ini, namun ada juga yang tidak percaya sama sekali. Jadi, apa benar garam dapat mengurungkan niat debt collector untuk datang ke rumah seseorang?

Mitos ini sebenarnya berasal dari India. Di India, tradisi menyiramkan garam di depan pintu masuk rumah sudah dilakukan sejak lama. Tujuan utama dari tradisi ini adalah untuk mengusir setan dan makhluk halus lainnya. Selain itu, tradisi ini juga dipercaya dapat memberikan keberuntungan bagi keluarga yang melakukannya.

Berdasarkan penelitian, terny

Mitos Lain Tentang Debt Collector

Debt collector adalah orang yang ditugaskan untuk menagihkan hutang kepada orang yang berhutang. Mereka biasanya bekerja untuk bank, perusahaan pembiayaan, atau perusahaan kredit. Debt collector juga dikenal sebagai debt recovery agent, credit collection agent, atau simply collection agency.

Kesimpulan

Garam adalah sebuah senjata yang ampuh dalam menghadapi kolektor utang. Kolektor utang tidak akan berani mendekati Anda jika Anda memiliki garam. Garam bisa menjadi efektif untuk mengusir kolektor utang dari rumah Anda.

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whattheabcxyz · 2 years ago

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2022-06-16

Food

Sonny Side visits Singapore & gives his take on local fare

Singapore explores sourcing chicken from Indonesia after Malaysia's export ban

Singapore

Bangladeshi worker killed after wall he was hacking collapses on him

Jail for construction site supervisor who ignored safety protocols, leading to worker's death

Debt collection agencies here must have police licence to operate under proposed law

What to expect during NEA home visit to check for mosquito breeding

EMA extends measures to secure energy supply & stabilise prices till end-March 2023

Art

^ The latest offering by Dave Eggers of McSweeney’s fame

Politics

Singapore & US armies hold 1st in-person exercise since pandemic

Transport

Singapore: NightRider & 11 other bus services to be discontinued from 30 Jun

#food #singapore #art #politics #transport

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mnscredit · 1 year ago

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Discover expert insights on debt collection agencies in Indonesia through MNS Credit's informative blog post. Debt Collection Indonesia, MNS has long experience to help companies in the efficient collection and recovery of outstanding debts. Learn about the challenges, strategies, and legal aspects associated with debt collection in one of Southeast Asia's most dynamic economies.

#Debt collection agency in Indonesia #Debt collector services Jakarta #Indonesian legal debt recovery #Debt collection process in Indonesia #Jakarta's best debt collection company

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groupucs · 3 years ago

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Are you facing increasing debt and other financial pressures due to an unpredictable economic environment? Do not Worry! Unified Credit Solution Group provides debt collection services for both large and small businesses in India, UAE, UK, even across the globe. UCS has an international debt collection agency in Indonesia, UK, UAE, Europe, Bangladesh, even Worldwide.

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kavout-blog · 7 years ago

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What if corruption cost Kurdish independence?

First of all, let’s focus on the latest events in the region where the Kurds live. In the past couple of years, the Kurdish people have been under the spotlights for fighting against Daesh. They are indeed fierce fighters, have been in a difficult situation with the central governments controlling them (Turkey, Iran, Iraq and Syria) and had many casualties in the last several wars. It was even un-hoped for that a Kurdish would have had the audacity to go through a referendum for a potential independency. The people living in the Kurdish region of Iraq pay the price of the “yes” for independency. Besides the reality on the ground and the political game in the Middle-East where no ally would have supported it, there are factors, which Barzani undermined or underestimated. It seems now that it was a “bluff” and the other players disclosed it. Poor governance in the region has lead to chaos after the inaction of the leaders the following days of the referendum. Kurdish leaders have indeed undermined the importance economic and political stability on a negotiation towards independency.

Second, none of the main international organizations such as the UN, the OECD or even the Council of Europe defines the word “corruption”. Instead they establish “the offences for a range of corrupt behaviour”[1]. Nevertheless, there is no consensus on a definition; the most common one points out corrupt activities as “abuse of public or private office for personal gain”[2].

Persistency of corruption in Kurdistan is one of the main concerns for its citizens: 77%. Besides, it remains the highest priority for them. According to the United Nations Office on Drugs and Crime (UNODC) report[3] in January 2013, 3.7%[4] of people in Kurdistan who interacted with civil servants paid a bribe[5](against 29% in the rest of Iraq). Moreover, 4.3% of civil servants are exposed to bribery in Kurdistan.

According to The Economist Intelligence Unit (EIU), although the level of corruption is lower in Kurdistan Region than in Iraq, it remains “high by international standards”[6]. Transparency International[7], an NGO focused on fighting corruption in the world, studied Financial Times’ list of the 10 fastest growing countries in 2013. For each country in that list, the NGO analyzed its level of corruption with its growth rate. Transparency international concluded that growth would have been even higher and more sustainable if the corruption rate was lower. To summarize, corruption is a source of “long-term instability”[8].

Last January when I was in Dohuk (Kurdistan Region of Irak), I heard on the news that approximately 60,000 civil servants living Kurdish areas did not get their salary. What is astonishing is not the fact that a government (Bagdad) is not paying its employees – it is a routine in Iraq- but the fact that they were all working for the Iraqi Railways. You did not know that there was a rail network, well no Iraqi citizens did.

Besides, corruption also has a sociological impact. The loss of hope on future for new generations will also have a negative impact on entrepreneurship, innovations, etc. The UNODC goes even further by declaring that not only “corruption undermines democratic institutions” but also “slows economic development and contributes to governmental instability”[9]. As a result, “foreign investment is discouraged and small businesses within the country often find it impossible to overcome the “start-up costs” required”.

We can use France as an example, although it is a recognized democracy. In 2013 October, the 19th, Mediapart[10], a French online newspaper, held a conference titled “Corruption, it is enough!” since it is a major concern[11] for French citizens[12]. As a matter of fact, Nicolas Sarkozy, the former President, is allegedly involved in several different judicial cases[13] of financial fraud.

That conference was the first of its kind and gathered many distinguished guests: magistrates, lawyers, economists, sociologists, policemen, etc. The main reason that corruption exists in countries like France as well as Kurdistan Region is that judicial institutions are not provided with adequate tools to fight it. To do so, first, judicial power has to be independent[14], which is not the case in Kurdistan since political parties control it. Pierre Lascoumes[15], a sociologist, noticed that ignorance and indifference for corrupted behaviour are very present among politicians and businessmen. Therefore, he listed two solutions. He blamed business school for not teaching and training their students to ethical behaviour in business. The government should pressure them to teach business ethics in their program. Political parties also have a major responsibility, according to Pierre. They should have a greater selection for their candidates and train them.

You’ll ask me then: what is the link between corruption and independence then?

To be able to reach a political independence you need a strong or rather stable and sustainable economic development. The Catalans have understood it quite well. The governance needs to be good enough as well.

Before 2014, the growth rate was high and the purchasing power was increasing. In the EIU report in May 2014, the KRG’s score on “the Business Environment Index is 5.10/10, which is equivalent to a rank of 57th out of 83 countries”[16].This rank is quite respectable since it is “just ahead of Indonesia”. However, the weakest areas of Kurdistan region are located in “labour market, infrastructure, and financing conditions”. “Financing is Kurdistan’s weakest area since it is ranked 78th even behind Iraq (66th). Banks are reluctant to lend to businesses”[17]..

The main problem though is that according to the same report, “the level of corruption is still high by international standards and perceptions of corruption were one of the catalysts for protests in the KRG in 2011. » Furthermore, « even if the true level of nepotism is lower than it is perceived to be, this is an issue that the KRG needs to address through increased transparency in areas like the contracting process, in order to minimise perceptions of bias that might discourage new firms from investing. »

These two weaknesses combined were already back in 2013 prior to Daesh’s attacks a concerned for western countries, the main supporters of the Kurdish military forces in the war. The West has been criticised repeatedly for interfering in the Middle-East (Iraq invasion in 2003) or the support of former dictators such as Moubarak for example for national interests. It was obvious that none of the western political leaders would have supported a Kurdish independency but they would not have rejected contrary to what happened. The poor economic and political governance (even if Bagdad gives the Kurdish region its rightful share of the budget) reveals the incapacity of the Kurdish people to rule itself. They are deeply divided in the region, even the military forces are party controlled ones.

The region has also a $17bn[18] in debt for a near 5.5 million in a territory approximately as big as Swtizerland. The debt has increased since 2014 because of the drop of oil price. The unemployment rate is at 14% in 2016, according to the Ministry of Planning in 2016. As for the public sector, « the exact number of people working for the public sector is unclear, but it is estimated by some observers to be as high as 1.2m[19]».

It is obvious that remaining in Iraq will not help Erbil to eradicate corruption but the risks were too many (the total control of Iran in Iraq) for the West, and the compensations not enough to allow it to happened. The Kurds were too dependent on their western allies and did not realize it. Eventually, the costs of the referendum are quite terrible to pay for the population: the loss of trust of any current political leader, the increasing discontent of the weak governance, the economic and political isolation they are in, the endemic corruption despite the economic recession, the nepotism…

[1] “Corruption: A Glossary of International Standards in Criminal Law “, OECD, 2008, p 22

[2] “Corruption: A Glossary of International Standards in Criminal Law “, OECD, 2008, p 22

[3]“Corruption and Integrity in the public sectors in Iraq”, UNODC, January 2013, p10

[4] “The data used in this study are derived from three different sources:

1. ICS Survey 2011: the sample survey on Working Conditions, Job Satisfaction and Integrity of Civil Servants of Iraq (ICS Survey) was implemented by the Central Statistical Office (CSO) of Iraq and the Kurdistan Region Statistical Office (KRSO), with the assistance of UNODC and UNDP, during July-August 2011.7 This survey covered 33 ministries/institutions in the Federal Government (FG) and 22 ministries/institutions in the Kurdistan Region Government (KRG).8 In total, more than 31,000 civil servants took part in the survey: a large sample distributed over the entire country and representative of 1,867,000 public servants in 55 institutions (see Methodological Annex for technical details). This survey provides information on working conditions, recruitment practices, motivation, job satisfaction, management schemes, experience of bribery, reporting of corruption and related perceptions.

2. IKN Survey 2011: the Iraq Knowledge Network Survey (IKN) was conducted in 2011 by the Central Statistical Office (CSO) of Iraq and the Kurdistan Region Statistical Office (KRSO), with the assistance of United Nations agencies. 9 The survey covered all Governorates of Iraq and a random sample of roughly 29,000 households was interviewed. This survey included a module on governance, which also collected data on prevalence and forms of bribery faced by the population, reporting practices and perceptions about corruption (see Methodological Annex for technical details).

3. CoI Administrative Dataset on Corruption: administrative data on the criminal justice process relating to corruption cases over the period 2006-2011 were provided by the leading anti-corruption body in Iraq, the Commission of Integrity (CoI). The data provide a comprehensive statistical picture of the criminal justice response to corruption, from the number and type of corruption cases initially reported to authorities and those passing to the investigation phase to the number and type of judicial sentences. These data are analyzed to gain insights on the progress made in the fight against corruption as well as on challenges remaining and areas for improvement.” “Corruption and Integrity in the public sectors in Iraq”, UNODC, January 2013, p14

[5] “Bribery is defined in article 15 of the United Nations Convention against Corruption as (a) the promise, offering or giving to a public official, directly or indirectly, of an undue advantage, for the official himself or herself or another person or entity, in order that the official act or refrain from acting in the exercise of his or her official duties and (b) as the solicitation or acceptance by a public official, directly or indirectly of an undue advantage, for the official himself or herself or another person or entity, in order that the official act or refrain from acting in the exercise of his or her official duties”. “Corruption and Integrity in the public sectors in Iraq”, UNODC, January 2013, p18

[6] “Benchmarking the Kurdistan Region”, EIU, May 2014, p29

[7] It is an NGO created in 1993 based in New York: http://www.transparency.org/whoweare/organisation

[8]http://blog.transparency.org/2013/07/09/bribery-blocks-the-potential-of-emerging-economies/

[9]http://www.unodc.org/unodc/en/corruption/index.html?ref=menuside

[10]Mediapart was created in 2008 funded by only its readers to keep its independence. http://world.time.com/2013/04/05/mediapart-meet-the-upstart-journalists-shaking-up-french-politics/

[11] “Corruption represents 80 billion euros per year of loss for France”, “Corruption” Antoine Peillon, 2014.

[12] 66% of the French think that corruption has increased from 2007-2010. http://www.transparency.org/country#FRA_PublicOpinion

[13]http://www.lemonde.fr/les-decodeurs/article/2014/03/19/six-affaires-qui-menacent-nicolas-sarkozy_4385871_4355770.html

[14]The Montesquieu doctrine of the separation of power in between Executive, Legislative and Judiciary

[15] “Sociologie des Elites délinquantes”,2014, Pierre Lascoumes.

[16] “Benchmarking the Kurdistan Region”, EIU, May 2014, p31

[17] “Benchmarking the Kurdistan Region”, EIU, May 2014, p42

[18] https://www.ft.com/content/0d592a0a-a388-11e7-9e4f-7f5e6a7c98a2

[19] “Benchmarking the Kurdistan Region”, EIU, May 2014, p45

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phgq · 5 years ago

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Higher revenue, reforms to bring down poverty by 2022: DOF exec

#PHnews: Higher revenue, reforms to bring down poverty by 2022: DOF exec

MANILA – Higher government revenues, easier conduct of business, more efficient tax administration, and healthier people will help bring down poverty incidence by 2022.

These characterize the results of some of the Department of Finance’s (DOF) programs under the Duterte administration so far this 2019.

“Despite the combined challenges of a re-enacted budget for 4.5 months and the global trade tensions, the Department of Finance and its attached agencies did very well this year,” DOF Assistant Secretary and Spokesperson Antonio Lambino II told the Philippine News Agency (PNA).

The DOF executive said the agency fared well in working with lawmakers for, among others, the passage of additional sin taxes, heated tobacco products, and e-cigarettes for the Universal Health Care (UHC) program.

In the agency’s accomplishment report for this year, the DOF said state revenues, for one, continue to increase with the help of the Tax Reform for Acceleration and Inclusion (TRAIN) Law, which was signed into law on December 19, 2017.

Aside from increasing the take-home pay of employees who have an annual income of PHP250,000 and below, this measure provides funding for the government’s priority infrastructure program called Build, Build, Build program and the fuel marking program, which started in the second half of 2019 and is targeted to address oil smuggling.

Another first for the country is the excise tax on sugar-sweetened beverages (SSBs), which is primarily a health measure aimed at curbing the consumption of sugary drinks.

In the first half of this year, revenues from this measure amounted to PHP55.6 billion, or 65 percent up compared to the 2018 figure.

Gains from this particular measure have been noticed by other governments in the region and the DOF said Vietnam and Indonesia plan to follow its implementation.

Another achievement for the agency this year is the signing of another hike in tobacco excise tax last July through what is now known as Republic Act (RA) 11346, the second increase so far under the current administration.

This measure will help finance the government’s Universal Health Care (UHC) program, which provides low-income Filipino families access to quality and affordable health services.

Another plus for all Filipinos this year is the institution of the Rice Tarriffication Law (RTL), which liberalized rice importation – a bid started about 30 years ago.

After high domestic rice prices pushed inflation up to as much as 6.7 percent in 2018, this law boosted supply and addressed food-related inflation upticks.

The rate of price increases has decelerated to as low as 0.8 percent in October this year and has started to normalize after rising to 1.3 percent last November.

The DOF has reported that domestic rice prices declined by about PHP10 per kilo compared to the 2018 level.

While the higher importation has initially hurt domestic rice farmers, the government has assured the sector that at least PHP10 billion annually will be allocated for the sector through the Rice Competitiveness Enhancement Fund (RCEF) to help lift palay harvest by way of low-interest loans, farm equipment, high-yield seeds, and skills training.

With the various tax measures and collection enhancement programs, the proportion of tax to gross domestic product (GPD) has improved to 14.7 percent last year from 14.2 percent in the previous year.

As of end-September this year, the tax-to-GDP ratio further rose to 15.7 percent, the highest first quarter to third-quarter level in 22 years.

Debt consolation has also resulted to drop in the debt-to-GDP ratio to 41.9 percent in 2018 from a high of 74.4 percent in 2004 and this is seen to drop further on various fiscal measures.

These measures are seen to elevate the country’s credit rating not just simply to investment grade, which was first achieved in 2013, but to ‘A’ level.

This year, the country got its first-ever ‘BBB+” rating, the highest B-level rating from S&P Ratings.

The government is now preparing to graduate from the highest B-level investment grade rating to ‘A’ level through better fiscal discipline and a modern financial system.

Lambino said the government has also started targeting erring foreign workers like those involved in the Philippine Offshore Gaming Operations (POGO).

Finance Secretary Carlos Dominguez III said POGO service providers in the country are subject to income tax and value-added tax (VAT) and their workers should be properly registered.

Lambino said all these measures are being done to support the administration’s goal to increase revenues to finance its infrastructure program and bring down poverty incidence to just 14 percent by 2022.

As of 2018, the country’s poverty incidence has declined to a low of 16.6 percent.

Lambino said the latest drop of poverty incidence in the country showed that about 5.9 million Filipinos have been lifted out of poverty, near the current government’s target of 6 million by the end of its term in mid-2022.

“We need to stay on track towards achieving that ultimate goal and even surpassing it,” he added.

With these achievements, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort gave the DOF a 90 percent rating for this year.

He explained that the Finance Department has “done a great job in helping expedite various tax/fiscal reform measures in recent years.”

He said the increase in excise taxes of alcohol and tobacco products will help boost recurring sources of tax revenues.

“Further structural improvements in the government's recurring tax revenue collections to help narrow the budget deficit and further improve the government's overall fiscal management/performance, thereby could support further upgrades on the country's credit ratings,” he said.

The economist is hopeful that lawmakers will okay the proposed bill that targets the gradual reduction of corporate income tax rates from 30 percent to 20 percent over 10 years.

This bill along with the proposed fiscal rationalization measure “would be needed in able to provide greater certainty on investment decisions by both local and foreign locators,” he said.

Ricafort said additional sin taxes can still be approved “as local sin taxes have yet to catch up with other ASEAN/Asian countries and increase funding for the government's Universal Healthcare Program.”

He is also optimistic about the eventual approval of the real property valuation reform bill, eyed to generate additional revenues for local government units (LGUs).

Gains from these measures will also help the government compensate private property owners whose lands will be affected by the government’s infrastructure projects “in able to somewhat reduce delays in the rollout/implementation of various infrastructure projects,” he added. (PNA)

***

References:

* Philippine News Agency. "Higher revenue, reforms to bring down poverty by 2022: DOF exec." Philippine News Agency. https://www.pna.gov.ph/articles/1089558 (accessed December 27, 2019 at 03:14AM UTC+14).

* Philippine News Agency. "Higher revenue, reforms to bring down poverty by 2022: DOF exec." Archive Today. https://archive.ph/?run=1&url=https://www.pna.gov.ph/articles/1089558 (archived).

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courtneytincher · 5 years ago

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Relief Rally Halted as Fed Fails to Boost Risk Assets: EM Review

(Bloomberg) -- A relief rally in emerging-market assets hit a roadblock as the U.S. Federal Reserve’s second rate cut this year wasn’t accompanied by a dovish tone that some traders were hoping for. The MSCI index of developing-nation equities posted the first weekly loss in five and a currency gauge also weakened. Some trade noise resurfaced by the end of the week as U.S. President Donald Trump said he won’t seek an interim agreement to end the trade war with China.The following is a roundup of emerging-markets news and highlights for the week ending Sept. 20.Highlights:U.S. Federal Reserve policy makers lowered the main interest rate for a second time this year and Chairman Jerome Powell said “moderate” policy moves should be sufficient to sustain the U.S. expansionThe Fed took action to calm money markets, injecting billions in cash to quell a surge in short-term rates that was pushing up its policy benchmark rate and threatening to drive up borrowing costs for companies and consumersThe New York Fed said Thursday that it will once again do a $75 billion overnight repo operation on Friday. It follows liquidity doses of the same size Thursday and Wednesday and $53.2 billion on TuesdayBank Indonesia cut its benchmark interest rate to 5.25% from 5.5%, as expected, while monetary authorities in South Africa and Taiwan left their respective rates unchanged. Brazil’s central bank set the stage for a longer and deeper monetary easing cycle after cutting its key interest rate by half a percentage point to 5.5% and signaling inflation will remain below target next year even if borrowing costs fall furtherPresident Donald Trump said he doesn’t want to make a partial trade deal with China and that voters won’t punish him for the ongoing trade war in his 2020 bid for re-electionIn a quick change of events, China canceled a planned visit to farms in the U.S. heartland -- a trip touted by the Trump administration as a building of “goodwill”Trade negotiators from the U.S. and China resumed face-to-face talks in WashingtonRead more: U.S.-China Talks Resume as Beijing Officials Go to Farm BeltSaudi Arabia said attacks on its critical oil infrastructure were “unquestionably sponsored by Iran” but stopped short of saying the strikes were launched directly from or by the Islamic Republic, claims that could have propelled a drift toward warPresident Donald Trump said he wants tougher U.S. sanctions on Iran as his top diplomat arrived in Saudi Arabia to consult with leaders and build a case against TehranSaudi Aramco’s chairman said the drone strike on the kingdom’s main crude-processing plant won’t slow preparations for an initial public offering of the state-owned oil giantChina’s economy slowed further in August. Industrial output rose 4.4% from a year earlier, versus a median estimate of 5.2%, while retail sales expanded 7.5%, compared to a projected 7.9% increaseThe new gauge of borrowing costs was lowered in September. The one-year reference rate for bank loans was set at 4.2% versus 4.25% in AugustNorth Korean leader Kim Jong Un invited Trump to visit Pyongyang, Joongang Ilbo reported, citing multiple people familiar with the matterTrump said he “probably” won’t travel to Pyongyang for the next round of nuclear talks with Kim, but would be willing to visit the North Korean capital in the futureAsia:China’s overall prices are stable and the nation has a good foundation for prices to remain stabilized, said Fu Linghui, a spokesman for the National Bureau of StatisticsThe Bank of Korea should cut its base rate to the previous record low of 1.25% to help boost private-sector investment, one board member said, according to minutes of the Aug. 30 meeting that decided to freeze the rate at 1.5%The central bank has “sufficient” room for more policy easing, board member Shin In-seok saidFed’s decision to cut interest rates eases pressure on the South Korean central bank before the next interest-rate decision meeting, Bank of Korea Governor Lee Ju-yeol saidPresident Moon Jae-in’s approval rating reached the lowest since his term began in May 2017, Gallup Korea’s poll showsIndia’s central bank Governor Shaktikanta Das said he needs time to assess the impact of the oil supply shock following the attack in Saudi Arabia, adding that growth in the domestic economy remains a priority. He also said there’s room for interest-rate cuts to spur economic growth given stable and below-target inflationDas said the RBI has no target or band for the level of the exchange rate and interventions are intended to manage undue volatilityIndia will cut corporate tax rate for local businesses to an effective 25.2% from 30%, Finance Minister Nirmala Sitharaman said FridayIndia expects to rule over the entire state of Kashmir in the future, its foreign minister said, a statement that could further ratchet up tensions with rival PakistanThailand will reduce levies collected for its Oil Fund so that retail fuel prices remain unchanged as crude climbs, the Energy Ministry saidThe nation can find other sources of oil imports if there’s a long-term impact from the attacks on Aramco facilities in Saudi Arabia, Energy Minister Sontirat SontijirawongExports posted larger-than-expected drop in August while imports fell more than predicted, leaving trade surplus of $2.1 billion, compared with forecast $650 million in excessPhilippines central bank Governor Benjamin Diokno said the central bank may cut its key interest rate by 25 basis points at the Sept. 26 meeting, with the increase in the consumer price index seen slowing to 1.4% in September compared to the previous yearThe biggest risk to the world economy today is the U.S. president, Diokno told a panel discussion in SingaporeThe attack in Saudi Arabia is unlikely to have an impact on Philippine oil supply, which means there will be no need for further government action, said Department of Finance Undersecretary Karl Kendrick ChuaMalaysia’s tax collection rose 8.94% year-on-year as of Aug. 31 and an increase in tax collection shows that economy is growing substantially and is on an upwards trend, Finance Minister Lim Guan Eng saidRuling party leader Anwar Ibrahim, who cut a deal to become the country’s next prime minister ahead of last year’s election, said he should take power around May 2020Bank Negara Malaysia remains on guard against potential domestic and external risks to the nation’s financial stability including the weaker global outlook and elevated household debt, according to a statement from the central bankTerry Gou, the billionaire founder of Foxconn Technology Group, pulled out of next year’s presidential election in Taiwan, a move that may help unite the opposition Kuomintang partyThe Solomon Islands broke diplomatic ties with Taipei in favor of BeijingTaiwan decides to sever official relations with Kiribati, Taiwan Minister of Foreign Affairs Joseph Wu says; the break leaves Taiwan with just 15 diplomatic alliesEMEA:Attacks that slashed half of Saudi Arabia’s oil output had “zero” impact on the kingdom’s revenue and won’t affect economic growth, Finance Minister Mohammed Al-Jadaan saidThe nation attempted to move beyond the worst oil disruption in its history, assuring the world that crude exports won’t suffer, its damaged facility has partially restarted and that production capacity will be back to normal within monthsSaudi Arabia’s central bank said it’s prepared to inject liquidity in the financial system if needed to help the economy cope with the aftermath of the attacksSaudi bonds declined and pressure on the riyal rose on Monday after drones struck at the heart of the kingdom’s biggest source of revenueIranian Foreign Minister Mohammad Javad Zarif refused to rule out military conflict in the Middle East after the U.S. sent more troops and weapons to Saudi Arabia in response to an attack on oil fields the U.S. has blamed on the Islamic RepublicPrices on Aabar Investments PJS bonds jumped by the most on record as the state-owned Abu Dhabi firm offered to buy back 2 billion euros ($2.2 billion) of debt earlyThe central banks of Saudi Arabia and the United Arab Emirates, the two biggest Gulf Arab economies, followed the Fed again on Wednesday after it reduced rates by a quarter percentage pointEgypt’s stocks plummeted on Sept. 22 on concern that the small but rare protests against President Abdel-Fattah El-Sisi’s government may escalateLebanese Prime Minister Saad Hariri is traveling to Saudi Arabia and France to follow up on efforts to secure financial support for his debt-laden country and show it’s serious about reformBenjamin Netanyahu’s gamble to hold elections for a second time this year backfired, as a deadlocked result left Israel convulsed by a new wave of political turmoilSouth Africa’s annual inflation rate rose more than forecast in August as food prices grew at the fastest pace in more than a yearNigeria’s inflation rate fell to the lowest in more than three years in August as growth in food prices slowedA Kenyan parliamentary committee rejected the National Treasury’s proposal to repeal a contentious law that caps interest rates, despite opposition from the central bank governor and the High Court annulling itGhana’s economic growth slowed more than projected in the second quarter as the construction sector contractedZambia, Africa’s second-biggest copper producer, may double power tariffs as the government seeks more costly imports to offset a shortfall from its drought-stricken hydropower damsUkraine’s former central bank governor, who purged the financial industry and helped bring the country’s biggest lender under state control, said her house near Kyiv was burned down in an arson attackTurkey took its boldest step yet to clean up the growing pile of bad debt held by banks. The Banking Regulation and Supervision Agency, or BDDK, told lenders for the first time to reclassify $8.1 billion of loans as non-performing by the end of the year and set aside enough provisions to cover themLatin AmericaBrazil’s pension reform rapporteur in the Senate said amendments accepted to the bill have no fiscal impact and will keep estimated savings of the overhaul unchanged. The first-round voting is set for Sept. 24 and second round Oct. 10Petrobras raised fuel prices days after oil surged, a move that should help ease concerns about political interference at the firmArgentina’s government can’t resolve growing investor concern over the ability to repay its debt alone and will require consensus with the opposition to reach an orderly reprofiling of its obligations, Economy Minister Hernan Lacunza saidCentral bank raised a floor on its benchmark interest rate to 78% from 58% for the rest of September as the government fights a resurgence in inflation triggered by political uncertaintyArgentina remained mired in a recession during the second quarter, its sixth straight, marking the longest quarterly recessionary stretch in at least the last 15 years, according to GDP dataAn International Monetary Fund spokesman acknowledged the latest change to central bank policy, noting Economy Minister Hernan Lacunza’s upcoming visit to WashingtonThe central bank modified a capital control rule to allow sovereign bond payments to be made abroad, according to a resolution dated Sept. 16Uruguay’s second quarter GDP rose 0.1% compared to the same period of the previous yearColombia is seeking to take advantage of the rally in its long-term bonds to extend the average life of its debt, both in pesos and dollars\--With assistance from Colleen Goko, Selcuk Gokoluk, Alec D.B. McCabe and Carolina Wilson.To contact Bloomberg News staff for this story: Yumi Teso in Bangkok at [email protected];Netty Ismail in Dubai at [email protected];Aline Oyamada in Sao Paulo at [email protected] contact the editors responsible for this story: Tomoko Yamazaki at [email protected], Karl Lester M. YapFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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canadastartupblog · 5 years ago

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Solopreneurship is about as small as a small business gets. As a solopreneur, you don’t just run an entire business, you are the business. This means you are the CEO, accountant, manager, marketer, and what have you. Or, simply put, you wear all the hats.

Sounds scaringly good, right?

The probability of success, however, won’t sound very promising. You see, small businesses have a tendency to fail. For instance, of all small businesses started in 2014:

80 percent made it to the second year (2015);

70 percent made it to the third year (2016);

62 percent made it to the fourth year (2017);

56 percent made it to the fifth year (2018).

What’s more, 82 percent of businesses that fail do so because of cash flow problems. Being the smallest possible business, you are extremely vulnerable to cash flow issues. While you focus on bagging more and more clients to keep the work (and money) rolling in, it is equally important to slash unnecessary spendings to maintain and increase profitability.

Ways to Cut Costs in a Small Business

So, here are four fundamental ways to cut costs in a small business including tips to reduce expenses, maximize your budget, and ultimately grow your solo venture.

Use Free Alternatives to Paid Tools

Online tools and apps are at the heart of your solo business. From sourcing clients to getting paid, everything you do involves the use of modern online tools. And for every task, there are countless options available on the market today. Setting up your suite of business tools thriftily can go a long way in maximizing your revenue.

Make sure to take advantage of the cost savings many free (or almost free) tools offer while providing the same capabilities and features as their paid counterparts. Here’s a tried-and-true toolkit for you to take inspiration from:

Google Drive: For creating, easily sharing, and safely storing documents, spreadsheets, presentations, etc. It is completely free.

Trello: Free web app for efficiently managing your projects the Kanban way.

Slack: A great app for real-time messaging and file sharing.

Canva: The start-to-finish, beginner-friendly, and free design app for all your social media graphics needs.

Wave: Free software for all your accounting and invoicing needs.

Unsplash: The best free collection of stock photos.

Join.me: An ideal free tool for remote client meetings and screen sharing.

BuzzSumo: The ultimate tool to source ideas for your content and social media strategy.

Grammarly: A must-have freemium tool to detect and dodge grammatical mistakes in your emails and content.

Clockify: Time is money. Track your productivity for free with this neat little app.

Hunter.io: Find email addresses for pitching prospective clients with this freemium tool.

Reassess Your Work Location

The freedom to work from anywhere and be your own boss is the biggest reason why working professionals nowadays are ditching their conventional jobs and opting to become a solopreneur.

Chances are you have similar reasons, too. If you haven’t already, consider moving away from expensive city life to not only cut costs but to also experience the thrill of traveling and exploring new places. You can quite literally save hundreds (or even thousands) of dollars by shifting to a pocket-friendly (yet beautiful) location.

Some spectacular locations where you can move to easily and continue growing your solo venture efficiently include:

Hanoi, Vietnam

Bali, Indonesia

Buenos Aires, Argentina

Lisbon, Portugal

When working remotely, consider a co-working space to ensure reliable internet connectivity, among other necessities, is in place. Check out Nomad List, a website specifically designed for researching feasible places to live as a remote working professional.

Outsource with Intelligence

Being a solopreneur does not mean you actually have to do it all yourself. It means you are the only one responsible for getting the job done.

It is safe to say you’re no expert at everything. No one is. But that shouldn’t stop you from taking on projects that still interest you or grabbing lucrative opportunities. If a part of your deliverable requires you to do something you’re not particularly skilled at, or you know you can spend the same time on something else at which you’ll be more productive, you should definitely consider outsourcing it.

Sure, it may appear as an expensive option which seemingly won’t help in cutting costs. But if the person/agency you outsource the work to does an outstanding job while you work on the stuff which you’re good at, the end result would more than satisfy your client leading to positive reviews and recurring work for your business (aka you).

Besides, platforms like Fiverr are super affordable. Outsourcing work on such well-known platforms is relatively straightforward and safe.

Review Expenses, Rinse and Repeat to Cut Costs

Last but certainly not least, take some time at the start/end of each month to keep a rigorous check on your monthly expenses. Review every expenditure and try to root out the ones that don’t positively affect your business growth. Because as a solopreneur, your business’s growth is all that matters in terms of being financially secure and successful.

This way, you’ll slowly but surely streamline your expenses and increase your disposable income which can be invested back in growing your business ? learning more skills, attending networking events, optimizing your website and online presence, and so on. Also, ensure you have an emergency fund aside for times of crisis. And if worst comes to worst, you can always borrow some instant cash from credible short-term payday loan providers like Peachy or Speedy Cash.

What tips do you have on cutting costs and increasing profitability as a one-man army? Do share your ways to cut costs in a small business in the comments below!

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Ecompanies Canada offers fast & easy Canada online incorporation and business registration services to non-Canadian residents interested in doing business in Canada. At Ecompanies Canada we help you step-by-step and take care of the entire business registration process from start to finish. Incorporating a business with us is fast, easy and takes just minutes.

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This Article first appeared in smallbiztrends

The post Cracking the Code on Cutting Costs and Increasing Profitability as a Solopreneur appeared first on Ecompanies Canada.

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ixvyupdates · 6 years ago

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New Financing for Sustainable Development Report argues “action is needed at all levels” including on education

The 2019 Financing for Sustainable Development Report (FSDR) of the Inter-agency Task Force, whose fourth edition was released today, reviews the global financing landscape to make recommendations for governments. It puts special emphasis on the five Sustainable Development Goals under review at the High-Level Political Forum this July, which includes the education goal, SDG 4.

Ahead of the Spring Meetings of the World Bank and IMF and the United Nations ECOSOC Forum on Financing for Development, the 2019 FSDR assesses the global macroeconomic context and progress towards the commitment to establish national integrated financing frameworks that was made in the Third International Conference on Financing for Development in 2015 (known as the Addis Ababa Action Agenda). It discusses the seven action areas of the Agenda, ranging from domestic public resource to international development cooperation.

The 2019 FSDR emphasizes the financing gap for education using our 2015 policy paper, with least developed countries needing to increase their annual spending on education by three times in order to achieve universal pre-primary, primary and secondary education. The IMF used these calculations to show that the SDGs on education, health, roads, electricity, water and sanitation for 155 developing countries would require additional spending worth $2.6 trillion by 2030.

We are also pleased to see that the 2019 FSDR adopts the GEM Report’s perspective of looking at all three sources of funding that can fill this gap: governments, households and donors.

Governments account for eight out of ten dollars spent on education

Government spending on education is by far the most important source of funding, accounting for around 8 out of every 10 dollars spent. Poorer countries prioritize education more in their public expenditure, but this still translates into vastly smaller expenditure by student— less than $200 annually per primary school student in low-income countries, compared to around $8,000 in high-income countries.

Today’s publication also picks up a message we have been touting for many years about the large share of the bill that households are having to pick up for education. In some developing countries, households account for more than half of all expenditure, compared to less than 15% in most developed countries. In Uganda households account for 63% of the country’s total education spending. Household spending accounts for a significant share in some middle income countries, including El Salvador (50%), Indonesia (49%) and Peru (45%).

This price barrier can be too much for the poorest and requires some re-thinking. The 2020 GEM Report will be looking at inclusion in education, putting a spotlight on how financing can be more equitable. Today’s publication features the case of Chile, which undertook a broad reform of its tax system in 2014 to permanently increase public spending on education, especially at the higher education level.

The 2019 FSDR also looks at the importance of remittances for education being sent back home by migrant workers. Our last Report showed the potential of these remittances for even greater impact on education financing: lowering the transaction costs of remittances from 7.1% to the SDG recommended 3% would provide US$1 billion for education. A recommendation from our report is aligned with today’s publication, which is calling for improved financial education initiatives for migrants and their families. This could go a long way to improve their understanding of remittance channels and costs, including exchange rates and fees; to date, less than one third of adults are financially literate in the top remittance-receiving countries.

The 2019 FSDR highlights that development aid for education has plateaued since 2009 at about $11 billion to $13 billion per year, having doubled in the early 2000s. The share allocated to least developed countries fell from a peak of 47 % in 2004 to 34 % in 2016, quoting GEM Report figures; the latest iteration of this annual policy paper reporting on 2017 figures on aid to education is due next month.

The share of aid going to the poorest countries is going downwards

The 2019 FSDR refers to the proposed International Finance Facility for Education, which it describes as being “difficult for some countries, especially given the recent rise in debt burdens”. It cautions that a debt-funded education system may be risky for education, which sees returns on investment materialize only over the long term. It also calls on donors to improve coordination across different international funding mechanisms to avoid duplication and fragmentation.

Lastly, the publication looks at the challenge of improving the availability of reliable, national, disaggregated education data. The UNESCO Institute for Statistics (UIS) is highlighted for its work engaging with national statistical systems to provide statistical capacity development support, including on the definition of a National Strategy for the Development of Education Statistics to improve national education data. But collecting the necessary data for the Sustainable Development Agenda requires the current share of statistics in total aid to double from 0.33% to 0.70%.

More effective and inclusive finance is the name of the game for success in achieving our education goal. Antonio Guterres, Secretary-General of the United-Nations, warns in his foreword that “Trust in the multilateral system itself is eroding, in part because we are not delivering inclusive and sustainable growth for all.” The challenge is clear. And now we must meet it.

New Financing for Sustainable Development Report argues “action is needed at all levels” including on education syndicated from https://sapsnkraguide.wordpress.com

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