Economy

Philippines to aid troubled airlines but won’t want to own them

The Philippine government is ready to assist the airline sector as long as it won’t end up owning troubled carriers, said Finance Secretary Carlos G. Dominguez III.

“We are prepared to participate in assistance to the airline industry,” Mr. Dominguez said in remarks before members of the Philippine Chamber of Commerce and Industry. “But let me point out that whatever assistance we have or we are going to provide will be part only of the entire process. The private sector banks have to cough up the majority of the assistance.”

The government is also reviewing its mining assets, Mr. Dominguez said, as he pushes for the sale of some government-owned mines to help revive the sector. The finance department is also studying how to tax the digital economy better, with the main tax agency expediting the implementation of e-invoicing system to boost collections, he said. — Siegfrid Alegado and Claire Jiao/Bloomberg

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