BusinessWeek M I N DA N A O CREDIBLE
Volume X, No. 84
AS OF 6:00 PM DEC. 23, 2019 (MONDAY)
FOREX
X
US$1 = P 50.815
18 cents
PHISIX 7,773.12
X
119.18 points
YOUR MINDANAO-WIDE BUSINESS PAPER
RELIABLE
Briefly
Rosy picture THE country’s chief economist is optimistic the government will hit its target growth rate last year and this year, given a strong push from consumption and infrastructure spending. Socioeconomic Planning Secretary Ernesto Pernia said he agrees with the Development Budget Coordination Committee’s (DBCC) gross domestic product (GDP) growth numbers at 6 percent to 6.5 percent last year. “In the fourth quarter, consumer spending really got boosted by bonuses, OFW (overseas Filipino workers) remittances also rose 7.7 percent in October, and that also contributed to increased consumer spending which accounts for about two-thirds of GDP,” he told reporters Wednesday during the yearend media briefing.
‘Successful’ policies PRESIDENT Rodrigo Duterte’s administration will continue to implement its “successful” policies and programs this year to further boost the Philippine economy and improve the lives of all Filipinos, Presidential Communications Operations Office (PCOO) Secretary Martin Andanar said on Friday. Andanar assured the public that the government would welcome 2020 with a decisive leadership to serve the people better. “As the year 2019 ends, we at the Presidential Communications Operations Office (PCOO) enjoins every Filipino to look forward to a prosperous and blessed 2020,” Andanar said in a statement.
IN-DEPTH
P15.00
Bill seeks to tax POGOs for teachers' pay hike www.businessweekmindanao.com
Market Indicators
We strive for Excellence!
Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting
Friday|January 3, 2020
I
Thank you for trusting us!
By DIVINA SUSON, Correspondent
LIGAN City -- Iligan City Lone District Representative Frederick Siao on Monday said he is eyeing to propose measure imposing taxes on Philippine Offshore Gaming Operations (POGOs) to fund the P10,000 pay hike for public school teachers per month.
HANDICRAFTS. A lumad family sells rattan handicraft to passing motorists in Kitaotao town, Bukidnon. mindanews photo
NorMin 2019: Tales of 2 Lanao, mass surrenders, call for justice
Siao, the chairperson of the House civil service and professional regulation committee, noted that public school teachers have been "unrelenting" in their push for a pay hike but that Congress is at a loss where to find the roughly PHP126 billion funding to make it happen. Siao said lawmakers like him are trying to figure out how to balance the wage
issue with the interests of other civil servants and other government priorities. "Right now, the first thing I see that can be taxed heavily to generate the PHP126 billion annually are those POGOs," he said. The lawmaker explained that if POGOs are taxed or a law should be passed setting PHP126 billion as TAX/PAGE 11
By NEF LUCZON, PNA
THE first month of 2019 marked a new chapter in Mindanao's history when the Bangsamoro Organic Law (BOL) was ratified through a plebiscite on January 21.
The Lanao del Sur Provincial Plebiscite Board of Canvassers (PPBC) officially recorded a total of 503,420 voters who answered JUSTICE/PAGE 11
MinDA to help Davao Oro build bulk water facility By ANTONIO L. COLINA IV, MindaNews
DAVAO City – The Mindanao Development Authority (MinDA) will assist Davao de Oro, formerly Compostela Valley, construct a P300 million bulk water project next year to improve access to potable water,
MinDA Undersecretary Janet Lopoz said Thursday. She noted that MinDa allocated P500,000 for the feasibility and engineering study for the bulk water WATER/PAGE 11
PERFECT TIMING. A Brahminy Kite dives and scoops out a fish from the murky waters of Cagayan de Oro River in this MindaNews file photo by Erwin Mascarinas.
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776