BusinessWeek M I N DA N A O CREDIBLE
Volume XI, No. 31
AS OF 6:00 PM AUGUST 14, 2020 (FRIDAY)
FOREX 8
PHISIX
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Rescue package AROUND P55-billion rescue package for the micro, small and medium enterprises (MSMEs) affected by the coronavirus pandemic and prolonged lockdowns has been proposed under the Bayanihan to Recover as One Act, according to the Department of Trade and Industry. Trade and Industry Secretary Ramon M. Lopez said P50 billion to P55 billion stimulus package is intended for the soft loans and working capital of MSMEs. Other sectors like agriculture and tourism will have separate stimulus funds also. The Department of Finance was agreeable to the proposed allocation of P140 billion for the Bayanihan To Recover bill to help the critically impacted MSMEs, but had strong reservation over the proposed P1.3 trillion stimulus package under the ARISE bill or the Accelerated Recovery and Investments Stimulus for the Economy.
Loan moratorium THE Management Association of the Philippines (MAP) has flagged as detrimental to the banking system a provision in the House of Representatives’ version of Bayanihan 2, giving a 365-day moratorium on loans. In a statement Friday, MAP president Francis Lim said it would be better to adopt the Senate version of the bill, which limits the loan moratorium to only one month. “The 365-day loan moratorium under the House version of the Bayanihan 2, while ostensibly good for our citizens in the short run, may have unintended adverse consequences for the country that can potentially exacerbate the negative impact of the pandemic,” Lim said.
IN-DEPTH
Gov’t sells 3 power assets in Mindanao www.businessweekmindanao.com
Market Indicators US$1 = P 48.765
YOUR MINDANAO-WIDE BUSINESS PAPER
S
Monday|August 17, 2020
P15.00
By MYRNA M. VELASCO, Contributor
TATE-RUN Power Sector Assets and Liabilities Management Corporation (PSALM) has successfully auctioned three of its real estate assets to subsidiaries of the Aboitiz and Lopez conglomerates.
These properties are located in Agusan in Manolo Fortich Bukidnon; Maco in Davao de Oro City; and
Nasipit, Agusan del Norte which fetched cumulative proceeds of P36.233 million. SELLS/PAGE 11
Surigao Norte guv vows food security amid pandemic B U T UA N C i t y – T h e provincial government of Surigao del Norte aims to secure enough food supply for its residents amid the coronavirus disease 2019 (Covid-19) crisis, Governor
Francisco Matugas has said. Matugas led the first leg of the implementation of the “Pagkaon Surigaonon Palamboon Program” (PSPP) or Develop the Food Sources FOOD/PAGE 11
WATER FALLS. Locals enjoy the cool waters of Salaysay Falls in Barangay Patpat, Malaybalay City, The falls is a six-kilometer walk from the barangay proper. mindanews photo by aries sandino m . mordeno
NGCP seeks gov’t intervention on Zamboanga power issue By MYRNA M. VELASCO, Contributor
PRIVATE transmission firm National Grid Corporation of the Philippines (NGCP) is
seeking the intervention of relevant government agencies in addressing stability and
reliability concern of power service delivery to consumers in Zamboanga City. The company indicated NGCP/PAGE 11
LTFRB-10 exec
No face shield? Stay home IMMUNIZATION. A nurse from the City Health Office injects a vaccine against measles, mumps and rubella on a child at the health center in Barangay Gusa, Cagayan de Oro City last week. mindanews photo by froilan gallardo
AS the "no face shield, no ride” policy for public utility vehicles (PUV) takes effect Saturday, the chief of the Land Transportation Franchising and Regulatory Board (LTFRB) 10 (Northern Mindanao) urged passengers without face shields to just
stay at home. “It’s better to stay at home. Don’t go out if you don’t have a face shield,” Aminoden Guro, LTFRB-10 director, said. Guro said LTFRB-10 would deploy field personnel STAY/PAGE 11
LTFRB-10 Regional director Aminoden Guro of Northern Mindanao demonstrates the proper use of face shield before the effectivity of its implementation on August 15. photo by gerry lee gorit
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