BusinessDaily CREDIBLE
Volume III, No. 287
Market Indicators As of 6:13 pm sept. 2, 2013 (Monday)
FOREX
PHISIX
US$1 = P44.42
6,061.80 points
18.5 cents
X
13.37 points
X
Briefly Tax cuts for K-12 DAVAO City -- A lawmaker here has filed a bill seeking additional income tax exemptions for K to 12 parents to ease their financial burden. Compostela Valley First District Representative Maria Carmen Zamora sought to augment additional income tax exemptions for each tax payer’s qualified dependent from P25,000 to P50,000. Zamora said the bill will be of help to single parents who have sole custody of the dependent. She added that there is the need for the government to help ease the financial burden brought about by the extended school curriculum.
Brownouts back GENERAL Santos City -- Daily rotating brownouts lasting up to six hours are once again back in South Cotabato and Sarangani provinces and the cities of General Santos and Koronadal due to the lack of power supply in the Mindanao grid. S a n t i a g o Tu d i o , South Cotabato I Electric Cooperative, Inc. (Socoteco-I) general manager, said in an advisory Monday that its service area has a deficit of 12.3 megawatts (MW), or equivalent to three to six hours rotational load curtailment. “ We appeal for your understanding as we again face power generation deficiency. Some of our power plants are undergoing maintenance repairs that resulted in the reduction of the Mindanao generation capacity,” he said.
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Power shortage still traders’ major woes Cagayan de Oro City
Tuesday
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September 3, 2013
By MYRNA VELASCO, Contributor
ESPITE government interventions in place, Mindanao businessmen have reiterated their call for President Aquino to double his effort bringing about quick solution to the island’s power problem.
BEARING THE BRUNT. A worker of a barbershop starts up a generator in Kidapawan City in this file photo. The lack of power supply continues to cripple businesses in Mindanao. mindanews file photo by froilan gallardo
P40-B construction industry to propel Mindanao’s economy
Wit h t he anticipated integration of the ASEAN markets in 2015, the group said this issue has become more relevant and that what they need is reliable supply and overall energy security for the region. By 2015, Mindanao’s long-snarled power supply
will finally ease with the scheduled entry of additional 500 megawatts capacity from greenfield coal plants. The concerns of various business chambers and groups in Mindanao were presented to the President as “ninepoint policy agenda designed to enhance the island-region’s
competitiveness and prepare for the anticipated ASEAN integration in 2015.” At a recently-concluded Mindanao Business Conference, John Gaisano who was the designated conference director noted that their policy issues delve with agriculture, energy, information and technology, tourism, small and medium enterprises, logistics and infrastructure, sk ills development and natural resource management. The business groups so power/PAGE 11
By LOVELY A. CARILLO, Contributor
DAVAO City -- The main pl aye r s i n M i nd a n a o’s construction industry have identified P40-billion worth of opportunities for the industry that can provide a big boost to Mindanao’s economy. “The construction industry provides money for t he lo c a l e c onomy with 15 times minimum multiplier effect in terms of suppliers, workers, lodging establishments and other support facilities,” said Engr. Ramon F. Allado, president of A l lado Const r uct ion Company. Allado has identif ied ongoing, still to be completed and soon-tostart construction projects in the areas of tourism, public construction and power plant construction that can spell “at least P40-billion for Mindanao alone.” “ There is a boom in
Minda nao const r uct ion industry today, especially in Davao,” he said. T here a re t wo 3 0 0 MW coal-powered plants in full construction in the region today, he said, with Therma Sout h ’s project 40 percent completed and SMC Global Power Holdings Corporation’s project in Malita just starting out. Two more coal-powered plants in Misamis and South Cotabato will start construction soon, he added. “That’s only the power sector aside from the mining sector,” he said. Allado said the Department of Education (DepEd) has completed the public-private partnership (PPP) bidding for 20,000 classrooms in Mindanao. Sector 1, which comprises almost the other half of Mindanao, requires 10,000 economy/PAGE 11
‘BER’ MONTH. As the first “ber” month is on, colorful lanterns and other decors for sale begin to dot roadside stores in Buhangin district in Davao City, signifying that the Christmas season, though still four months away in December, is already up in the air. mindanews photo by gigi bueno
Lanao power coop cuts off power of 29 municipalities LANAO del Sur Electric Cooperat ive (L asu reco) has cut off the supply of 29 municipalities affecting 20,620 customers due to their arrears of roughly P350 million. In a letter to Energ y
Secretary Carlos Jericho Petilla, Lasureco general manager Ashary P. Maongco noted that the cooperative emba rke d on “ma s sive disconnection of delinquent member-consumers because of non-payment of
outstanding obligations.” In the August 23, 2013 correspondence to the energy chief, Maongco indicated the supply cut-off to 27 municipalities, but as of August 28, this has already Lanao/PAGE 11
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