BusinessWeek M I N DA N A O CREDIBLE
Volume XII, No. 96
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Briefly Mining review DAVAO City – Newlyappointed Mindanao Development Authority (MinDA) chair Maria Belen Sunga Acosta said extractive industry practices need thorough review and operations of mining firms require close monitoring. In a statement, Acosta acknowledged the contribution of the industry as one of the country’s economic drivers. She added though that the review and monitoring of the mining industry are needed to “prevent pollution and contamination, distortion of ecological balance and damage to water systems.”
Food security THE Department of Agriculture-Bureau of Fisheries and Aquatic Resources (DA-BFAR) could use more financial backing to support its vision to achieve food security even as it defended the plan to import fish to address shortage. DA Undersecretary for Agri-Industrialization and Fisheries Cheryl NatividadCaballero said in an interview Friday that BFAR received lower funds compared to other agricultural agencies. Thus, the goal to intensify fish production is limited and will depend on the given budget.
IN-DEPTH
NGCP warns of thin supply this summer www.businessweekmindanao.com
AS OF 6:00 PM JANUARY 22, 2022 (SATURDAY)
FOREX
YOUR MINDANAO-WIDE BUSINESS PAPER
Mon-Tue|January 24-25, 2022
By MYRNA M. VELASCO, Contributor
S
YS T E M o p e r a t o r National Grid Corporation of the Philippines (NGCP) has raised alarm bells of ‘thin power supply’ during the summer months – April to June.
NGCP forthrightly stated there will be “thin power supply this summer due to higher demand in the new normal,” especially so since the country is now pacing for economic recovery from the blow of the Covid-19 pandemic. NGCP said that if aggravated by forced outages of power plants and the lingering gas restriction from the Malampaya field, the thin power supply could descend Luzon grid into rotational blackouts. With power supply getting strained to breaking point, the transmission firm pointed out that one saving grace – especially for the main power grid of Luzon – will be to embrace “energy efficiency and conservation”, which is a demand-side management (DSM) WARNS/PAGE 11
VITAL COMMUNICATION LINK. A group of generous individuals install a radio antenna in San Isidro town in Siargao Island on Friday, January 21. The antenna has linked the southern and northern portions of Siargao Island since super typhoon “Odette” toppled towers and cut most of the communication lines. mindanews photo by roel n . catoto
Marawi residents rebuild homes amid gov’t rehab efforts BUILDING permits have been released to 865 internally displaced families in Marawi City, allowing them to start the reconstruction of their war-torn houses inside
Economic outlook THE Philippine economy is seen to have expanded by 5 percent in 2021 and is forecast to grow by 7.5 percent this year, an economist of Standard Chartered Bank said Friday. Both gross domestic product (GDP) projections are within the inter-agency Development Budget and Coordination Committee’s (DBCC) assumption of a 5 percent to 5.5 percent expansion for last year and a 7 percent to 9 percent assumption for 2022. In a virtual briefing, Jonathan Kho, Standard Chartered Bank economist for Asia and the Philippines, said the projected quarteron-quarter output for the last quarter of 2021 is 6.5 percent, higher than 3.8 percent from July to September that year.
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the most devastated area, Task Force Bangon Marawi (TFBM) reported on Friday. Department of Human S ettlements and Urban REBUILD/PAGE 11
NO BUILD ZONE. The Department of Enviroment and Natural Resources has placed billboards by the beach all over Siargao Island warning residents not to build houses and other structures within 20 meters (40 meters if the area is considered timberland) from the coastline. This sign was spotted at the municipality of Burgos on Saturday, January 22. mindanews photo by roel n. catoto
Modern agro practices highlight 2022 plans for MisOr technoparks THE University of Science and Technology of Southern Philippines (USTP) has begun laying down the foundation for its proposed "technoparks" in Misamis Oriental province, with enhanced innovative agricultural practices and urban farming being the project's highlights. In an interview Friday, Angelie Azcuna-Collera, USTP's head of Center for Human Development (CHD)
and convenor of the Gulayan sa Kabalayan (GSK), said the Claveria campus in Claveria, Misamis Oriental has already proposed the "Agropolis" Science and Technology (S&T) park. "The GSK project falls under the Agropolis S&T Park that promotes food security in urban areas. Agropolis S&T park intends to establish a food secured community by enhancing agriculture
practices via S&T solutions," she said. GSK was an urban farming initiative that was originally established during the series of lockdowns in 2020 as the coronavirus disease 2019 started. Collera, on the other hand, said the CHD is the harmonizing unit of the USTP as it advances human d e vel opme nt am i d t he AGRO/PAGE 11
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