BusinessWeek Mindanao (February 11-12, 2022)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XII, No. 103

Market Indicators

AS OF 6:00 PM FEBRUARY 10, 2022 (THURSDAY)

FOREX US$1 = P51.34

PHISIX 7,502.48

X X Briefly

0.16

44.25

cents

points

Financing MSMEs

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ERC says plant outages cap is 'non-negotiable' www.businessweekmindanao.com

Fri-Sat|February 11-12, 2022

By MYRNA M. VELASCO, Contributor

W

ITH alarm bells raised on highly probable rotational blackouts during the summer m on t h s , t h e c ou nt r y ’s generation companies (GenCos) are being warned that breach of regulatory policy on ‘force outage caps’ will not be tolerated, hence, they shall be ready to be meted anew with penalties.

BUTUAN City – The Department of Trade and Industry in Surigao del Norte (DTI-SDN) on Wednesday announced the start of the financing for micro, small and medium enterprises (MSMEs) affected by Typhoon Odette in Siargao Island in December last year. In a statement, the DTISDN said the financing support will be implemented under the Small Business Corporation (SB Corp.), the agency’s financing arm. “The DTI, through the SB Corp., will be providing an Enterprise Rehabilitation Financing (ERF) support to MSMEs adversely affected by the typhoon in a form of low interest and collateral-free loans,” the DTI-SDN said.

Ester oil ABOITIZ-led Davao Light & Power Co. (Davao Light) has been using plant-based ester oil as insulation fluid for its new transformer facilities and as part of its “greening drive” for its distribution network,. According to the utility firm, it has been allocating P87-million annually for its procurement of at least 1,300 green-leaning transformers to cater to demand growth at its service area. As of end-December last year, Davao Light has been servicing 458,948 customers and its registered peak demand hovered at 459 megawatts. The firm indicated that since 2015, it has been on its acquisition spree of new transformers as a replacement to older fleets which it already scheduled for decommissioning; and the older transformers were also utilizing mineral as insulation fuel.

More infras in BARMM COTABATO City – More government infrastructures are rising in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), an unprecedented move under the new autonomous political entity established under the administration of President Rodrigo Duterte. The BARMM was officially formed after a two-part plebiscite held in January and February 2019 following the signing by President Duterte of the Bangsamoro Organic Law. “These are the dividends of peace,” BARMM Senior Minister Abdulraof Macacua said in a statement on Thursday.

HEALTH SAFETY. Bus companies maintain strict quarantine measures among its units to ensure health safety of travellers. A crew of RTMI sprays disinfectant in one of its buses before it leaves their motor pool compound in Brgy. Bulua, Cagayan de Oro City yesterday. photo by gerry lee gorit

“Non-adherence to our regulatory policies is non-negotiable, Energ y Regulatory Commission (ERC) Chairperson Agnes T. Devanadera has stated; as she also emphasized that the long arm of the law will definitely catch up with the erring industry players. The ERC chief stressed “we will exercise the punitive powers accorded to ERC by the OUTAGES/PAGE 7

Davao region posts 11,871 job loses in 2021 due to pandemic By ANTONIO L. COLINA IV, MindaNews

DAVAO City– As community re st r i c t i ons e as e d, t he National Economic Development Authority (NEDA)-Davao region said the number of workers who lost jobs in 2021 decreased to 11,871 coming from 566 companies whose operations were severely affected by the coronavirus disease

(COVID-19) pandemic. This is lower by 42% c omp are d w it h 2 0 , 5 9 2 workers from 1,206 companies affected by the pandemic in 2020. NEDA-Davao director Maria Lourdes Lim said during a virtual press conference streamed over the Philippine LOSES/PAGE 7 PINK CAMPAIGN. Supporters wave pink ribbons as they launch the campaign of Vice President Leni Robredo and Senator Kiko Pangilinan in Cagayan de Oro City on Tuesday (8 February 2022). mindanews photo by froilan gallardo

Leni-Kiko supporters in CDO shell out own money for campaign By FROILAN GALLARDO, MindaNews

WITH only pink party balloons and tarpaulins, supporters launched the campaign of Vice President Leni Robredo and her party mate, Senator Kiko Pangilinan, in Cagayan de Oro amid difficulties in logistics and money. Supporters bought their own fuel, the pink party balloons and tarps used in the 50-vehicle motorcade that started in Opol town and ended in their Leni-Kiko headquarters along J.R. Borja St., Ext. here. This kind of volunteerism is akin to that which catapulted the late Corazon Aquino in the February 7, 1986 snap elections that eventually toppled the Marcos regime.

But will this kind of volunteerism help Robredo and Pangilinan win the May 2022 elections? Local organizer Engr. Tony Requirme said the Leni-Kiko national headquarters have tasked them to garner 900,000 votes in Northern Mindanao, which he admitted “would be a struggle to achieve.” “We have to resort to volunteerism to reach the marginalized sector, the key to victory,” Requirme said. He said it would indeed be a struggle given their logistical and financial problems to organize a grassroots campaign among CAMPAIGN/PAGE 7

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