BusinessWeek Mindanao (June 16-17, 2021)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XII, No. 4

AS OF 6:00 PM JUNE 15, 2021 (TUESDAY)

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Briefly Reverting to RE THE Philippine government is now working with the Asian Development Bank (ADB) on a goal to acquire all coal-fired power plants in Mindanao, a Department of Finance (DOF) official said. In a virtual roundtable briefing hosted by the British Embassy on Wednesday, Finance Assistant Secretary Paola Alvarez, who read the speech of DOF Secretary Carlos Domiguez III, said the government intends to repurpose the coal-fired power plants to increase the region’s renewable energy. “This proposal aims to shift most of Mindanao’s energy requirements to hydropower, which will eventually spur more investments from companies seeking to expand their operations in areas powered by clean energy,” she said.

Bagwis seals GENERAL Santos City – Some 119 business establishments in Region 12 (Soccsksargen) have received the Bagwis Seal of Excellence for upholding the rights of consumers and practicing responsible business. Jude Constantine Jaugan, Department of Trade and Industry (DTI)Region 12 director, said Tuesday the recipients have complied with the parameters of the Bagwis program, which recognizes the efforts of businesses to improve their operations and provide quality services. He specifically cited the promotion of consumer rights and fostering the highest level of business ethics.

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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

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MECQ extended in Davao, CDO until June 30: PRRD P Thank you for trusting us!

By ANTONIO L. COLINA IV, MindaNews

RESIDENT Rodrigo R. Duterte extended the Modified Enhanced Community Quarantine (MECQ) status of Cagayan de Oro City until June 30.

Aside from Cagayan de Oro City, other areas in Mindanao that would remain under MECQ are Davao City; Zamboanga City, Zamboanga Sibugay, Zamboanga del Sur, and Zamboanga del Norte in the Zamboanga Peninsula; and Butuan City, Agusan

del Sur, Dinagat Islands, and Surigao del Sur in Caraga. Presidential spokesperson Harr y Roque said in a statement Monday that Davao del Norte will remain under General Community Quarantine (GCQ) status EXTENDED/PAGE 7

STILL UNDER MECQ. A fast food worker cleans and disinfects their restaurant in Divisoria after curfew hours in Cagayan de Oro City. President Rodrigo Duterte on Monday night has extended the Modified Enhanced Community Quarantine (MECQ) status in the city until June 30. mindanews photo by froilan gallardo

Bukidnon town incurs minimal damage after magnitude 5.9 earthquake A TOP of f ic i a l of t he Municipal Disaster Risk Reduction and Management O f f i c e (M DR R MO) o f Kadingilan town, Bukidnon reported Tuesday that they have not recorded major

da mage a f ter t he 5.9 magnitude earthquake. The town was the epicenter of the earthquake on Monday night, particularly at the west side, experiencing Intensity V of tectonic origin, according to the Philippine Institute of Volcanology and Seismology (Phivolcs). Sheen Therese Romo, Kadingilan MDRRMO chief,

said they only recorded some minor cracks from certain parts of the municipal hall main building, including the wall of the Municipal Mayor's office. Cracks were also seen at the right side of the Municipal Council building. "As of now, our assessment has been ongoi ng. Ou r DAMAGE/PAGE 7

PSALM wants stranded debts in electricity bills removed By MYRNA M. VELASCO, Contributor

SQUID BAITS. Fisherman Abbe Benitez prepares his squid baits before fishing on Wednesday afternoon in Barangay Mabua in Surigao City. mindanews photo by roel n. catoto

STATE-run Power Sector A s s e t s a n d L i a bi l i t i e s Management Corporation (PSALM) said it will formally ask the Energy Regulatory C om m i s s ion (E RC) t o scrap the universal charge for stranded debts (UC-SD) component in the electric bills of consumers, once it can secure a supplemental budget of P3.2 billion from the national government. The additional allocation sought from the

Department of Budget and Management (DBM), with a recommendation from the Department of Finance (DOF), will cover for the shortfall in collection of the UC-SD that PSALM has been expecting for this year. “PSALM shall immediately submit to the DOF and DBM a request for supplemental allocation from the MKA (Murang Kuryente Act) fund to cover the P3.2 DEBTS/PAGE 7

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


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