BusinessWeek Mindanao (April 21, 2015)

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BusinessWeek MINDANAO Your daily business paper

2013 ppi’S Best in Business and Economic Reporting

Volume V, No. 147

Market Indicators

As of 6:34 pm apr. 20, 2015 (monday)

FOREX

PHISIX

US$1 = P44.19

7,807.07 points

8 cents

X

X Briefly 125.43 points

JobStart DAVAO City -- The JobStart Philippines program, piloted in Luzon last year, was rolled out last week in the cities of Davao and Tagum, expanding the number of “at-risk” youth who are targeted to join the work force. At-risk youth are those currently not working or enrolled in school or training, with less than one year or no working experience. They have at least a high school diploma and are between the ages of 18 to 24. Labor Secretary Rosalinda D. Baldoz said the department is seeking to implement JobStart in 14 Public Employment Services Office (PESO) nationwide with 3,200 beneficiaries for the first and second batches. “Up to 50% of the country’s three million unemployed are youth belonging to the 15 to 25 age brackets,” Ms. Baldoz cited.

High School summit THE city government of Cagayan de oro is now ready in hosting the Senior High School Summit slated today, April 21, in partnership with the League of Cities of the Philippines and Department of Education (DepEd), Division of Cagayan de Oro. The summit’s theme is “Uswag Kagay-anon! Yes to Senior High School.” Cagayan de Oro, along with 10 other cities in the entire country, was chosen as a pilot area for the implementation of senior high school program. Education Secretary Bro. Armin Luistro, Quezon City Mayor Herbert Bautista, President of the League of Cities in the Philippines, and other local chief executives are expected to grace the event.

Tuesday | April 21, 2015

By CARMELITO Q. FRANCISCO, Correspondent

M

INDANAO leaders have pitched several projects to the Asian Development Bank (ADB) for funding, including an economic development program for the future Moro territory under the proposed Bangsamoro Basic Law (BBL).

At a meeting between ADB officials and Mindanao leaders at the Mindanao Development Authority (MinDA) office last week, Richard Bolt, ADB country director for the Philippines, s aid t he prop os a ls are b eing re v ie we d by t he bank in consultation with stakeholders. The BBL, initially timetabled for passage by Congress by the end of the first quarter this year, has

been pushed back to endJune at the earliest following the Jan. 25 Mamasapano raid which resulted in a deadly firefight between police and Moro Islamic Liberation Front (MILF) forces, among others. M r. B o l t d i d n o t categorically say whether the discussions for the Bangsamoro program involve the pending approval of the BBL, which will create a new fund/PAGE 11

OFF TO FISH. A fisherman prepares to board his boat for another day of fishing as the early morning sun slowly illuminates the horizon in Medina town, Misamis Oriental. mindanews photo by erwin mascarinas

OIC backs Bangsamoro peace process

Tax law A LAWMAKER thanked members of the city council for supporting reforms in the country’s tax system. In a letter to the City Council here, Senator Sonny Angara expressed gratitude to the city councilors for supporting the lawmaker’s advocacy to reform the country’s current tax system. Angara is pushing for the adjustment of the individual tax bracket and reducing the rates of individual income tax. In the same letter, Angara assured the City Council that he would continue to push for genuine legislative reforms that would lower the tax burden of the Filipino working class.

P15.00

ADB’s help sought to fund Bangsa projects www.businessweekmindanao.com

PUSO. Vendors of puso (rice cooked in coconut leaves) and other food items station themselves at a beach resort in Opol, Misamis Oriental to take advantage of the presence of hundreds of vacationers. mindanews photo by h . marcos c . mordeno

DAVAO City – The head of the Organization of Islamic Cooperation (OIC) formally re af f ir me d t he g roup’s support for the Bangsamoro peace process and expressed optimism over its success despite challenges it had faced in the past few months. OIC Secretary-General Iyad bin Ameen Madani declared after a meeting with officials of the Moro Islamic Liberation Front (MILF) and the Moro National Liberation Front (MNLF)

Rufus urged not to undermine BBL’s passage By BONG D. FABE Editor-at-Large

AS the adhoc committee hearing on the Bangsamoro Basic Law (BBL) begins, a grassroots network of indigenous peoples, Bangsamoro and Christian communities in Mindanao are u rg i ng c om m itte e chai r man, R ep. Ruf us R o d r i g u e z , to re f r ai n from unduly preempting the decision of the other committee members by refraining from giving his personal opinions on some provisions of the BBL. “The Mindanao Peoples Caucus and its allied civil society organizations and grassroots communities appeal to Chairman Rufus Rodriguez to immediately

stop issuing statements over the media that preempt the democratic processes in the legislative work on the Bangsamoro Basic law,” the

MPC said in a statement. The adhoc committee on the BBL resumed its hearing on the controversial bill rufus/PAGE 11

that the OIC is encouraged by the “sincere desire and the serious effort” displayed by all parties involved in the peace process. Madani also announced that the OIC will invite re pre s e nt at i v e s of t h e Bangsamoro Coordination Forum (BCF) in the upcoming 42nd OIC Council of Foreign Ministers in Kuwait on May 27. The BCF is an OICsponsored body that was formed to harmonize and settle differences between

the MILF and the MNLF. Madani said the people and the government of the Philippines will make the final decision on the fate of the peace process, but the OIC hopes “this political process will continue.” “We feel -- on both sides (the Philippine government and the Moro fronts) -- the sincere desire, and the serious effort to reach a conclusion,” he said, adding that “We are opt imist ic. We are backs/PAGE 11

More groups eye Steag’s IPPA By MYRNA VELASCO, Contributor

MORE investor groups are vying for the Independent Power Producer Ad m i n i s t r a t o r ( I P PA ) contract of the 210-megawatt Mindanao coal plant, according to st ate-r un privatization firm Power Sector Assets and Liabilities Management Corporation. The companies with advanced interest on the

asset include Conal Holdings Corporation, FDC Davao del Norte Power Corporation, First Gen Northern Power Corporation, GDF Suez Energy Philippines Inc., Masinloc Power Partners Co. Ltd., Meralco Powergen C orporation, Nexif Pte Ltd., SMC Global Power Hol d i ng s C or p or at i on , ippa/PAGE 11

Groups supporting the passage of the Bangsamoro Basic Law (BBL) are urging Cagayan de Oro City Rep. Rufus Rodriguez (2nd district) not to unduly preempt the decision of other members of the adhoc committee which he chairs. photo by froilan gallardo , mindanews

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