BusinessWeek Mindanao (June 17-18, 2022)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XII, No. 156

Market Indicators

X

US$1 = P53.435

0.18 cents

RELIABLE

PHISIX

X

6,319.42

155.11 points

Briefly Lanao power woes THE National Electrification Administration (NEA) said the Lanao del Sur Electric Cooperative, Inc. (Lasureco) has committed to settle its outstanding balance of P12.9 billion with the Power Sector Assets and Liabilities Management Corp. (PSALM). In a statement on Tuesday, the NEA confirmed that Lasureco met with PSALM on June 8 along with other local government officials to discuss its payments in arrears. NEA said Lasureco will submit a letter of commitment to PSALM that will outline its payment plans.

Wage hike compliance DAVAO CIty – The Department of Labor and E mploy ment in D a va o Region (DOLE-11) has issued a stern warning against employers who do not comply with the new wage orders in the region.

In a press briefing Wednesday, DOLE-11 Director Randolf Pensoy assured that noncompliant employers to Wage Orders RB XI-DW and RB XI-21 will face charges.

“We are always conducting labor inspection and monitoring activities,” Pensoy said, even as he warned erring employers not to wait for the DOLE inspectors to catch them.

IN-DEPTH

Fri-Sat|June 17-18, 2022

www.businessweekmindanao.com

AS OF 6:00 PM JUNE 15, 2022 (WEDNESDAY)

FOREX

YOUR MINDANAO-WIDE BUSINESS PAPER

P15.00

TO CUSHION IMPACT OF FUEL PRICE WOES

Restore barter trading in Asean region pushed By FERDINANDH B. CABRERA, MindaNews

B

ONGAO, Taw iTawi -- An official of the Bangsamoro Autonomous Region in Muslim Mindanao ( BA R M M ) h a s o n e suggestion to solve the skyrocketing prices of petroleum products in the region – restore the barter trade.

L aw yer Naguib Sinar imb o, Minister of the Interior and Local Government, said the restoration of barter trading in BARMM with countries in the Association of Southeast Asian Nations (ASEAN) will help stabilize prices of petroleum products before it goes out of reach for the ordinary Bangsamoro. Prices of fuel here and in Sulu, both diesel and gasoline, remain in the P60-to-P65 per liter range as against P85 or more in mainland Mindanao and elsewhere in the country as an offshoot of hostilities in Europe. BARTER/PAGE 11

DEMOLISHED. A demolition team dismantles a shanty along the Zayas Landfill Road in Upper Carmen, Cagayan de Oro City on Tuesday, June 2022. mindanews photo by froilan gallardo

Demolition of shanties in 25-ha CDO land ‘peaceful’ By FROILAN GALLARDO, MindaNews

DEMOLITION crews started dismantling shanties owned by informal settlers along Zayas Landfill Road in Upper Carmen, Cagayan de Oro City on Tuesday. Teams of policemen in riot gear came to support the court-ordered demolition

after police received reports t h at t h e m o re t h a n a thousand informal settlers would resist any attempt to remove them from the 25-hectare land owned by a certain Christine Cid. Maj. Evan Viñas, Cagayan de Oro PEACEFUL/PAGE 11

Overpricing DAVAO City – The Department of Trade and Industry (DTI) in Davao City urged the public to report overpricing of basic goods by unscrupulous merchants.

This came after the agency received reports of retailers exploiting the price hike by going beyond their Suggested Retail Prices (SRPs).

DTIDavao City Field Director Rachel Remitio warned retailers taking advantage of the soaring prices at this time, saying DTI personnel are intensifying their pricemonitoring activities to ward off exploiters.

FUEL WOES. A gas station in Cagayan de Oro City displays the current fuel prices. mindanews photo by froilan gallardo

Fish price up due to 3-month fishing ban in Davao Gulf By ANTONIO L. COLINA IV, MindaNews

D AVA O C i t y - - T h e enforcement of the threemonth ban on fishing at the Davao Gulf will likely jack up the prices of fish in Davao Region, an official of the Bureau of Fisheries and Aquatic Resources (BFAR)Davao said.

BFAR-Davao regional director Raul Millana told Davao City Disaster Radio (DCDR 87.5) on Friday that the fishing has been prohibited since June 1 and will last until August 31, which would affect the local supply that would result in

higher prices of fish. He added that aquaculture might help cushion the inflationary effect of the fishing ban, prompting the agency to support efforts to support small fisherfolk in setting up marine fish cages, including in inland waters. He said production of FISH/PAGE 11

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