PRESIDENT Rodrigo Duterte has signed two more measures into law, seeking discount rates for political advertisements in the media and raising the Bangko Sentral ng Pilipinas's (BSP) capitalization and strengthening its regulatory power.
Executive Secretary Salvador Medialdea confirmed this in a text message sent to Palace reporters on Friday night, February 15.
MalacaƱang, however, has yet to make public copies of the newly-signed laws.
Duterte signed into law the bill on discounted political advertisements amid the campaign season for candidates seeking senatorial and party-list posts in May 2019 elections.
The discounted rates for bona fide political candidates are 50 percent for television, 40 percent for radio, and 10 percent for print, "computed from the average of the published rates charged in the last three calendar years prior to the election."
Media entities are mandated to provide discounts to registered political parties and eligible candidates during the campaign period.
Meantime, the New Central Bank Act raised BSP's capitalization to P200 billion from the current P50 billion.
It also expands BSP's supervisory power, which include other categories of financial institutions, full flexibility to conduct risk-based supervision of financial iistitutions, and more teeth in imposing administrative and criminal sanctions.
The BSP now also has authority to require from any person or entity "any data for statistical and policy development purposes," in relation to the discharge of its functions and responsibilities.
Duterte, meanwhile, vetoed the proposed Coconut Farmers and Industry Trust Fund Act, creating the P100-billioj coconut levy trust fund, Medialdea said.
Medialdea added that the President "partially" vetoed the proposed Tax Amnesty Act, granting those who have failed to pay for taxable 2017 and prior years a one-time opportunity to settle tax obligations.
He, however, did not specify which provisions were vetoed by Duterte. (SunStar Philippines)