BusinessWeek MINDANAO
2013 ppi’S Best in Business and Economic Reporting
YOUR Mindanao-wide BUSINESS paper
Volume VI, No. 091
www.businessweekmindanao.com
2014 ppi’S Best in ENVIRONMENTAL Reporting
Wednesday | January 27, 2016
Mindanao power X X supply to worsen Briefly P
P15.00
Market Indicators
As of 6:12 pm january 26, 2016 (Tuesday)
FOREX
PHISIX
US$1 = P47.987
6,311.60
17.4
122.48
cents
points
Pension increase
THE Social Security System (SSS) would require additional funds if increase be implemented to its pensioners. This was stressed by Atty. Edwin Alo, assistant VicePresident of SSS Northern Mindanao during Lambo Dyes, a radio program of Philippine Information Agency (PIA) at DXIM Radyo ng Bayan on 22 January 2016 concerning the vetoed increase of P2,000 for SSS pensioners. “There is a required funding of P4.3 billion per month and in 2016 we need P56 billion additional fund. SSS has a current asset of P440 billion plus, but due to this kind of increase, by 2017 the SSS fund is projected to become insufficient,” said Atty. Alo.
By CARMELITO Q. FRANCISCO, Correspondent
OWER interruptions in Mindanao are expected to worsen this week as supply further drops with El Niño, attacks on transmission towers, and a temporary shutdown of a new coal-fired plant. Last Saturday afternoon, the Mindanao grid had 164 megawatts (MW) worth of reser ves with system capacity at 1,369 MW while
peak demand was 1,145, according to the National Grid Corporation of the Philippines (NGCP). However, the second
150-MW unit of the recently inaugurated coalfired plant of Aboitiz Power C or p.’s ( Ab oit i z Pow e r ) Therma South Inc., which has been undergoing commissioning, will enter a weeklong corrective m ai nte n an c e s hutd ow n starting today, Davao Light an d Powe r C o. ( D av a o Light) said. supply/PAGE 11
Livelihood MARAWI City -- As many as 12,000 residents in the Autonomous Region in Muslim Mindanao (ARMM) who wish to start up their own livelihood projects would receive financial assistance this year from the region’s Department of Social Welfare and Development (DSWDARMM). Rahima Alba, ARMM Social Welfare Secretary, said the beneficiaries are members of 480 Self Employment Assistance-Kaunlaran (SEA-K) associations across the region. “Maibibigay na po natin kung ano ang nararapat sa bawat SEA-K association (We can now distribute what is due to each SEA-K association),” Alba said.
RITUAL IN MAMASAPANO. An indigenous leader from Cordillera leaves the site of the Mamasapano encounter after a ritual together with the family members of the PNP Special Action Force personnel who perished in the tragedy last January 25, 2015. Seventeen MILF fighters and five civilians also died in the clash. mindanews photo by toto lozano
Promoting competitiveness of young Filipino engineers VILLANUEVA, Misamis Oriental -Energy-firm STEAG State Power Inc. (SPI) welcomes the 6th batch of young professional engineers to its annual Cadet Engineer Training (CET) Program. Nineteen (19) trainees from different engineering fields were admitted to the program after passing SPI’s competitive screening process. Since launch of promoting/PAGE 11
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