BusinessWeek M I N DA N A O CREDIBLE
Volume XII, No. 3
Market Indicators
AS OF 6:00 PM JUNE 12, 2021 (SATURDAY)
FOREX
PHISIX
US$1 = P 47.7
6,907.79
0.6
X X Briefly
cents
32.08 points
More aid for MSMEs THE TRADE department is seeking additional funding for small business loans, saying that it expects to commit P5 billion to finance such companies by the end of June. The program for businesses affected by the economic downturn caused by the coronavirus disease 2019 (COVID-19) has tallied P4.5 billion worth of loans for 30,408 applicants, the Department of Trade and Industry (DTI) said in a statement Thursday. “In view of this, there is a need to replenish this fund if we are to lend out to more MSMEs (micro-, small-, and medium-sized enterprises) affected by the pandemic,” Trade Secretary Ramon M. Lopez said.
Freedom from Covid-19 BUTUAN City– Local government units (LGUs) and government agencies in Caraga Region sought freedom from the Covid-19 pandemic as they joined the nation in the commemoration of the 123rd Philippine Independence Day on Saturday. In Agusan del Sur, Gov. Santiago Cane Jr. joined the officials and residents at the Capitol Grounds in Barangay Patin-ay, Prosperidad town. In his message, the governor urged residents to continue taking responsibility in the fight against the spread of the virus.
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NGCP warns of spikes in power consumers bills S Thank you for trusting us!
By MYRNA M. VELASCO, Contributor
YSTEM operator National Grid Corporation of the Philippines (NGCP) has warned of spikes in the electricity bills of consumers if it will have to adhere to the proposed frame of ancillary services (AS) contracting set forth by the Department of Energy (DOE).
“Consumers stand to suffer from soaring electricity rates should the DOE-proposed strategy of 100-percent firm contracting for ancillary services prevail,” NGCP has stated. Based on the initial simulations of NGCP, the rate hikes to be suffered by consumers could be as much as P0.64 per kilowatt hour (kWh) for those in Luzon; P0.54 per kWh for Visayas; and P1.39 per kWh for those in Mindanao. The transmission firm said it is
issuing this caution to consumers, “in light of the DOE’s insistence on the dispatch of ancillary services as a response to thin operating margins and possible load dropping in the Luzon grid at various points this year due to multiple power plants on extended outage.” As culled from DOE’s policy stipulation, it is compelling NGCP “to procure all of its ancillary services requirements under 100% firm contract, wherein AS providers WARNS/PAGE 11
INDEPENDENCE DAY. A part of SM City Cagayan de Oro’s Independence Day Centerpiece featuring the city’s icon, the motorela. This popular mode of transportation was introduced in 1964 by a local inventor Rafael Floirendo.
Bus trips to and from Davao City 'Bayanihan 2' benefits down from 800 to only 200 daily NorMin with P4.5-M By ANTONIO L. COLINA IV, MindaNews
DAVAO City – The number of bus trips to and from Davao City has decreased from 800 trips to only 200 trips daily due to the travel restrictions imposed while the city is under a Modified E n h a n c e d C om mu n it y Quarantine (MECQ), an official of the Davao City Overland Transport Terminal (DCOTT) said. The city was placed under MECQ from June 5 to 20 due to a surge in the cases
of COVID-19. A i s a Us op, D C O T T manager, told a virtual press briefing on Friday that bus operators have incurred significant income losses due to the reduction in the number of daily trips. She said t he number of passengers allowed to board per trip has been decreased from 50 before the pandemic to only 25 during the pandemic to ensure compliance with the
requirement of 50% passenger capacity to maintain physical d ista nci ng a nd prevent transmission of the infection among passengers. Usop said the major bus companies operating in the terminal are the Bachelor Express, Yellow Bus Line, Inc., LCI Bus Line, ACF Bus Lines, Holy Infant Tours, Mindanao Star and the Davao Metro Shuttle. Us o p s a i d pr i o r t o COVID-19 pandemic, the number of daily bus trips DOWN/PAGE 11
poultry upgrades
T H E Depa r t ment of Agriculture (DA) on Friday said it has allotted a total of P4.5 million for the upgrading of the poultry nucleus farms in Region 10 (Northern Mindanao) under the Bayanihan Act 2. DA-10 E x e c u t i v e Director Carlene C. Collado said the fund was utilized t h rou g h t he Reg iona l L ive stock Prog r a m to procure additional free-
r a nge ch icken stock s , feeds, various drugs, and biologics. The assista nce a lso includes the construction of Free-Range Chicken Poultr y House in DA’s research stations – the Research Center for Upland Development (RCUD) in Dangcagan, Bukidnon, and the Northern Mindanao Agricultural Crops and BENEFITS/PAGE 11
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