BusinessWeek Mindanao (April 28-29, 2021)

Page 1

BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 134

AS OF 6:00 PM APR. 27, 2021 (TUESDAY)

FOREX US$1 = P 48.381

PHISIX

X

6,356.47

X Briefly

0.90

32.91

cents

points

YOUR MINDANAO-WIDE BUSINESS PAPER

RELIABLE

Farm loans O U T S TA N D I N G l o a n sT h e Depar tment of Finance (DOF) i s p r o p o s i n g t h e 75 p e r c e nt increase of government-owned and controlled corporations’ (GOCCs) mandated dividend to the national government to boost financing for economic revitalization programs. “ To raise m ore fund s for our economic recovery, we are proposing to increase the mandated dividend remittances of GOCCs to the National Treasury from the current 50 percent to at least 75 percent of their net earnings,” DOF Secretary Carlos Dominguez III said in his speech during the virtual “Sulong Pilipinas: pre-SONA of the Economic Development and Infrastructure Clusters” forum on Monday. Republic Act (R A) No. 7656, otherwise known as the Dividend Law, mandates GOCCs to declare and remit to the national government at least 50 percent of their annual net income as dividends. made to the agriculture sector totaled P229.70 billion at the end of March, the Land Bank of the Philippines (LANDBANK) said. LANDBANK said in a statement Monday that small, medium and large agribusiness enterprises accounted for P143.11 billion of the total; followed by agriaqua related projects of local government units and governmentowned and-controlled corporations at P50.32 billion; loans to small farmers and fishers, cooperatives, and rural financial institutions amounted to P36.27 billion. Relative to the overall banking industr y, L ANDBANK cited a Bangko Sentral ng Pilipinas estimate that total loans extended by universal and commercial banks to agriculture, forestry, and fishing borrowers fell 6.1% year on year in February, LANDBANK said.

Bayanihan 3 T H E D e p ar t m e n t o f F i n a n c e (DOF) is proposing the 75 percent increase of government-owned and controlled corporations’ (GOCCs) mandated dividend to the national government to boost financing for economic revitalization programs. “ To raise m ore fund s for our economic recovery, we are proposing to increase the mandated dividend remittances of GOCCs to the National Treasury from the current 50 percent to at least 75 percent of their net earnings,” DOF Secretary Carlos Dominguez III said in his speech during the virtual “Sulong Pilipinas: pre-SONA of the Economic Development and Infrastructure Clusters” forum on Monday. Republic Act (R A) No. 7656, otherwise known as the Dividend Law, mandates GOCCs to declare and remit to the national government at least 50 percent of their annual net income as dividends.

IN-DEPTH

P15.00

'Power bloc’ targets 12 seats in Congress www.businessweekmindanao.com

Market Indicators

We strive for Excellence!

Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting

Wed-Thu|April 28-29, 2021

Thank you for trusting us!

By CHRIS V. PANGANIBAN

B

U T UA N C i t y - Electric cooperative c o n s u m e r s throughout the country who helped sent four partylist lawmakers in Congress in 2019 elections are now pushing to elect eight more nominees in next year’s polls. A consensus was reached on Monday here by Caraga Rural Electric Cooperatives, Association Member Consumers Owners (CRECA MCO) Convergence event at the LMX Convention Center where national leaders of the National Center of Electric Cooperative Consumers, Inc (NCECCO) formally announced their political SEATS/PAGE 7

POWER BLOC. A slide shows the target of the National Center of Electric Cooperative Consumers, Inc (NCECCO) of at least 1.2 million votes from the total of 6.8 million voters in wester Mindanao, Northern Mindanao and Caraga region for the Ako Padayon Pilipino Party-list as presented by Edmundo Pacamalan Jr, executive director of One Electric Cooperative Network Foundation (OECNF) who is also political consultant of the power bloc in Congress. chris v. panganiban

Hedcor tops power generation goal in Q1 By MYRNA M. VELASCO, Contributor

HEDCOR Inc., a subsidiary of Aboitiz Power Corporation, that is into run-of-river hyd ropower vent u res, had surpassed its power generation target of 123 k i low at t-hou r s ( kW h s) within first quarter this year, with it logging total generation of 182 kWhs. Hedcor Vice President for Operations Rolando Pacquaio noted that aside

f rom favorable weat her conditions, the company’s performance within the period was “largely driven by our continued efforts to improve plant reliability.” The company further asserted that it “consistently hit its monthly generation targets while powering some 76,000 households.” The hydro firm added that it has been logging

steady improvements on its reliability performances – and those metrics include ensuring high availability and maintaining low unplanned downtime hours. “This entails continuous efforts to automate legacy hydro plants in Luzon, as well as integration of the Manolo Fortich hydros in Bukidnon to the Mindanao control center, which will allow Hedcor to control all its POWER/PAGE 7

Closure of Davao borders set to curb Covid spread By ANTONIO L. COLINA IV, MindaNews

BAYWALK. The newly constructed baywalk in Barangay Baranayan, Palimbang in Sultan Kudarat province has become a popular evening promenade among locals. Just along the national highway, the baywalk is a vantage point for sunset viewing. mindanews photo by bong s . sarmiento

DAVAO City– Mayor Sara Duterte has recommended the “partial closure” of the borders of Davao Region as cases of coronavirus disease (COVID-19) in the country continue to increase. In her program aired over Davao City Disaster Radio (DCDR 87.5) on Monday, Duterte revealed that she had raised the suggestion before

the Regional Inter-Agency Task Force for COVID-19 (RIATF)-Davao to protect the region’s residents from the virus. There is a need to limit or control the number of travelers who can enter the region to fight the spread of the virus in the area, she said. CLOSURE/PAGE 7

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.