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Volume V, No. 29
Market Indicators
As of 6:12 pm August 12, 2014 (Tuesday)
FOREX
PHISIX
US$1 = P43.84
6,983.49 points
2 cents
X X Briefly 26.83 cents
NFA execs sued POLICE has filed graft charges against two National Food Authority officials in Agusan del Sur province over the disappearance of 1,600 sacks of NFA rice from an NFA warehouse in Bayugan City. The Philippine National Police’s Criminal Investigation and Detection Group said the disappearance of the rice was discovered on July 18. Charged were warehouse supervisor Melvin Pacaña and provincial manager Gil Tabor, who CIDG head Director Benjamin Magalong said had admitted to the questionable release of NFA rice from the warehouse. An inventory completed last July 22 showed a shortage of 1,890 sacks of NFA rice.
Prices of rice TANDAG City – The price in commercial rice has started to go down in Surigao del Sur, according to Gleen Echin, Officer-In-Charge (OIC) provincial manager of the National Food Authority (NFA) here. Based on the latest monitoring conducted, a P2.00 drop was noted in the prevailing commercial retail prices. Last week, the price per kilo of regular-milled rice (RMR) variety, as contained in a report transmitted to Caraga regional office, was recorded at P40.00 as compared to P42.00 during the previous week. Echin attributed this positive development to what has been termed as “flooding” the market of rice supply which was resorted to since last month, making the allowable withdrawal of NFA rice for all Bigasan sa Palengke (BSP) outlets here at a maximum of 175 bags per week.
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MSMEs gab to focus on funds, market access By JUDY G. QUIROS Philippine News Agency
Davao strengthens economy a year after storm Pablo
A
CCESS to financing and markets are leading issues that will be discussed in the two-day Micro Small Medium Enterprises (MSMEs) Summit on August 20 and 21 at the SMX Convention Center in Davao City.
Mary Ann Montemayor, chair of the MSME Development Council said these concerns are important to ensure that MSMEs could cope with the challenges of the upcoming ASEAN integration by 2015. “Access to finance and access to markets are not actually a problem but these issues have to be tackled and discussed thoroughly because we want to make sure the MSMEs will not be left out once the ASEAN integration starts,” Montemayor said in an interview. She said there is a need to intensify the markets for the MSMEs and the quality of their products further improved at exportable levels. She also said other issues and concerns will be raised at the summit to support Mindanao’s image as the food basket in the Philippines. Other co-located events to complement this tag will also be held at the sidelines among msme/PAGE 11
By CARINA L. CAYON Contributor
LIVING ON GOLD. Jasper Penales, who is a polio victim, makes a living by working as a goldsmith at the public market in Kidapawan City. A graduate of information technology, he decided to continue the work of his paralyzed father. mindanews photo by geonarri solmerano
Special task force to oversee Lanao Sur ailing power coop By JOHANIAH N. YUSOPH, Contributor
M A R AW I C it y - - T h e government has created a special task force to oversee the management of the Lanao del Sur Electric Cooperative (LASURECO). Secretary Jericho Petilla of the Department of Energy (DOE) said the Task Force LASURECO was organized based on Memorandum Circular No. 65 issued by the Office of the President creating an inter-agency committee (IAC) to oversee electrification programs and proj e c ts involving distribution utilities in the
country. The task force, chaired by Energy Assistant Secretary Matanog Mapandi with 103rd Brigade Commander Col. Glen Macasero and Police Chief Supt. Edgardo Inking as co-chairs, will take over the management of LASURECO to solve the power problem in the province. Petilla said the power problem in Lanao del Sur has been lingering for so many years already and the government have not forgotten it. “It may have taken some time, but we want
to come here with a solution for all of you,” he said during the task force meeting with local chief executives and other stakeholders in the province Thursday, August 7. He said the government is neutral in solving the power problem in Lanao. “We are not t r y ing to undermine anyone here. We are not trying to undermine LASURECO and we are not also trying to undermine the local government units. Kung merun man pong problema ang dalawa, ang pagpasok namin dito ay hindi papanig oversee/PAGE 11
DAVAO City -- After over a year super typhoon Pablo brought severe devastation to the provinces of Davao Oriental and Compostela Valley last year, Davao Region has so far recovered well and has managed to improve its economy. In a recent report of the National Economic and Development Authority and the Philippine Statistics Aut hor it y, t he reg ion’s economic performance has expanded by 6.8 percent based on its Gross Regional Domestic Product (GRDP) which had a growth forecast of 5.6 percent in 2013. N E DA- 1 1 r e g i o n a l director Ma. Lourdes D. Lim said the growth was a remarkable achievement for the region. “The 2013 GRDP estimates are a confirmation that Davao Region is truly resilient and that Dabawenyos have the capacity to recovery quickly from calamities and to rise above difficult challenges,” she stated. Davao Region’s total production of goods and s er vices was va lue d at PhP258.5 billion in 2013, Lim bared in a recent media conference on the region’s 2013 economic performance report. after/PAGE 11
2MW waste-to- power plant eyed in Tagum THE Mindanao area can expect additional capacity in 2015 as Metro Pacific Investment Corporation (MPIC) targets to operate initially a 2-megawatt (MW) renewable energy plant in Tagum City in Davao del Norte.
MPIC President and Chief Executive Officer Jose Ma. K. Lim, in a briefing Tuesday, said the project will cost about P600-700 million and is also expected to produce at least 10,000 liters of biodiesel daily ”Detail designs has been
done,” he said noting that construction of the power plant is expected to start in the latter part of 2014 and will last for about six months. He said the power plant will be constructed beside a landfill where the wastes plant/PAGE 11
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