Businessmirror June 14, 2019

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Friday, June 14, 2019 Vol. 14 No. 247

DTI seeks 50% budget hike to develop MSME

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By Elijah Felice E. Rosales

@alyasjah

HE Department of Trade and Industry (DTI) is asking for a 50-percent increase in its budget to expand programs for small businesses and heighten consumer protection initiatives. Trade Secretary Ramon M. Lopez said he personally attended budget meetings to appeal for a 50-percent fund hike for the DTI. If approved, it will be utilized to bankroll the trade body’s programs for micro, small and medium enterprises (MSMEs). “I myself attended the technical

meetings to make sure we communicate the importance of critical programs in MSME development, like the SSF [Shared Service Facilities] and Negosyo Centers,” Lopez told the BusinessMirror. “If we really want to achieve more inclusive growth, we need

stronger organization at the grassroots level. We are talking of municipality level, and to the extent possible, even down to the barangay level,” he added. A 50-percent increase would put the DTI’s budget next year at about P7.24 billion, from the

₧7.24B What DTI’s budget for 2020 would be, if it gets the 50-percent increase it is seeking over the P4.83-billion budget this year

P4.83 billion this year. According to Lopez, the DTI is targeting to fill in the balance of over 1,400 municipalities that are still without Negosyo Centers. The trade body also has to employ workers for vacant plantilla positions in the existing 1,070 Negosyo Centers. Over one-third of the DTI’s P4.83-billion budget, or P1.83 billion, is allocated for MSME development programs.

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@BcuaresmaBM

OREIGN banks’ interest in setting up operations in the local banking industry remains high, the Bangko Sentral ng Pilipinas (BSP) governor said, five years after the sector’s full liberalization for international entrants. BSP chief Benjamin Diokno confirmed to BusinessMirror reporters that several foreign banks are still eyeing the Philippine banking system as their next destination to put up their branches due to the country’s level of attractiveness in the investing community. “Right now there are 12 banks that came in after the liberalization. There is a lot of interest. And

Challenging the 18th Congress to pass progressive legislations Manny F. Dooc

TELLTALES

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HERE was a time when Congress, consisting of the House of Representatives and the Senate, was the forum where critical issues affecting our nation were deliberated and decided by the country’s greatest minds. I was a student at the Philippine Normal College during the height of student activism and my friends and I would cross Taft Avenue to observe the two Houses in session, which were then occupying the old Legislative Building, now known as the National Museum of Fine Arts. We spent late afternoons and early evenings at the gallery, regaled no end by the rhetoric and eloquence of the leading lights in both the House of Representatives and the Senate. Continued on A10

See “DTI,” A2

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‘Amend law to set SRP for sugar’ By Jasper Emmanuel Y. Arcalas

“There are 12 banks that came in after the liberalization. There is a lot of interest. And I’m not surprised why because the Philippines is one of the fastest-growing countries in the world. So there’s really interest here.”—Diokno

I’m not surprised why, because the Philippines is one of the fastestgrowing countries in the world. So there’s really interest here,” Diokno said at the recent BusinessMirror Coffee Club Forum in Makati City. “And also we have embarked on our ‘Build, Build, Build’ program, See “Banks,” A2

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International banks still keen on putting up PHL branches–Diokno By Bianca Cuaresma

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@jearcalas

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A MAN repacks refined sugar in a public market in Quezon City. Sugar planters and Sugar Regulatory Administration (SRA) officials vowed to cooperate with the DTI to ensure a stable supply of the sweetener and reasonable prices in the market. NONOY LACZA

HE government is looking at amending the Price Act to pinpoint the agency that has jurisdiction over the sale of sugar, as it seeks to ensure that the retail price of the sweetener will remain “reasonable.” Sugar Regulatory Administration officials told the BusinessMirror that the SR A and the Department of Agriculture (DA) are now working with the Department of Trade and Industry (DTI) to review the provisions of the Price Act. The review of the law is in line with the government’s goal to set Continued on A2

US 51.9690 n JAPAN 0.4790 n UK 65.9539 n HK 6.6424 n CHINA 7.5113 n SINGAPORE 38.1195 n AUSTRALIA 38.0280 n EU 58.6834 n SAUDI ARABIA 13.8569

Source: BSP (13 June 2019 )


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