BusinessWeek M I N DA N A O CREDIBLE
Volume XII, No. 83
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Economic focus THE poor will be the focus of the government as the country recovers from the pandemic, Socioeconomic Planning Secretary Karl Kendrick Chua said. In a statement for the 2021 first semester poverty statistics report Friday, Chua said the government achieved four years ahead, or in 2018, the 2022 poverty goal of lifting six million Filipinos out of poverty. He said that while hitting its target early, the government continued to implement reform programs like the social protection program Pantawid Pamilyang Pilipino Program (4Ps) to further uplift Filipinos’ lives.
Fisheries loan THE World Bank is considering a proposed $200-million loan for Philippine fisheries by February, according to project documentation posted by the bank Wednesday. The seven-year project aims to improve fisheries management and enhance the value of fisheries production in coastal communities. The appraisal date was Dec. 14 and the estimated board date is on Feb. 28.
SRP-compliant SUPETMARKETShave remained compliant with the suggested retail price (SRP) ahead of the Christmas holidays, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. In an interview during the Laging Handa briefing over PTV4 on Friday, Lopez said they continue to monitor prices and even came up with advertisements regarding the prices of specific goods. “Sa ngayon po, wala po kaming natanggap na complaints. Katsi-check ko lang uli ngayong umaga at wala ho tayong complaints ng overpricing or at least iyong selling above the SRP (We have not yet received any complaint. I just checked this morning and we have not received any complaint on overpricing or at least selling above the SRP),” he said.
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'Odette' damages seen to slowdown local econ www.businessweekmindanao.com
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By FROILAN GALLARDO, MindaNews
T
HE numbers are not in yet but authorities said the damages wrought by super typhoon “Odette” would have a “serious” impact on the country’s economy already reeling from the COVID-19 pandemic. My l a h Fay e Au ro r a Cariño, Region 10 (Northern Mind ana o) di re c tor of the National Economic Development Authority said the country’s economic managers have deployed teams to the areas badly affected by typhoon “Odette” to assess the damages. Cariño said many areas impacted by the typhoon are major tourism earners like Cebu, Bohol and Siargao Island. DAMAGES/PAGE 11
LANDSLIDE. The debris of a landslide caused by heavy rainfall during typhoon "Odette" in Brgy. Kilap-agan, Malaybalay City has not been cleared as of Monday, 20 December 2021. mindanews photo by h. marcos c. mordeno
Telcos lack ‘resiliency measure’ for internet connectivity in Mindanao – ICT expert By ANTONIO L. COLINA IV, MindaNews
DAVAO City – The recent internet outage after typhoon “Odette” (international name: Rai) ripped through parts of the Visayas and Mindanao revealed that telecommunications (telcos) companies lacked re s i l i e nc y me asu re s to prevent disruption of internet connectivity in the south, an official of the Information Communications Technology (ICT)-Davao said. Atty. Samuel Matunog,
ICT Davao president, said in a text message on Sunday that the recent internet disruption on the island was by far the “most disruptive and costly to the economy of the island.” While the immediate cause was the typhoon, he noted that it only showed that telephone companies are not prepared to ensure communication lines and internet access would not be disrupted after the onslaught of a devastating typhoon.
“While the immediate cause may be typhoon Odette, t he more f u nd ame nt a l cause may have been the insufficiency of the resiliency me asures employe d by (telecommunications) companies to ensure Mindanao will not and will never be deprived of internet access,” he said. Alfredo Baloran, head of Davao City Disaster Risk Reduction and Management Council, told Davao City Disaster Radio LACK/PAGE 11
PSALM ordered not to take on more liabilities from delinquent power coops
RIDING HOME. Father and daughter head for home after getting household supplies in Barangay Kilap-agan, Malaybalay City on Monday, December 20, 2021. mindanews photo by h . marcos c . mordeno
THE Power Sector Assets and Liabilities Management Corporation (PSALM) said Wednesday that it has been instructed by the Department of Finance (DoF) to stop taking on additional liabilities from delinquent electric cooperatives. “Finance Secretary Carlos G. Dominguez III said that PSALM should not incur more liabilities arising from non-paying electric cooperatives. He stressed that PSALM’s mandate does not include subsidizing the energy requirements of ailing electric cooperatives,” PSALM said in a statement.
Mr. Dominguez is the chairman of the PSALM Board of Directors, which is composed of the Secretaries of Energ y, Budget and Management, Justice, and Trade and Industry, as well as the National Economic and Development Authority (NEDA) and the President of PSALM. Mr. Dominguez said PSALM is not legally mandated to provide free electricity to entities w h i ch have no p ay i ng capacity, according to the statement. He added that the National Electrification POWER/PAGE 11
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