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2013 ppi’S Best in Business and Economic Reporting
YOUR Mindanao-wide BUSINESS paper
Volume V, No. 189
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Briefly Tax collection NORTHERN Mindanao continues to post double digit growth in tax collections, the National Economic and Development Authority (NEDA) in the region said. In a media forum last week, NEDA told media practitioners that the tax bureau in the region hit a total of P2.49 billion in tax collections during the first quarter of the year, higher by 20 percent from the P2.07 billion tax takes in the same quarter in 2014. Income taxes, which amounted to P1.52 billion, contributed the biggest share of 61 percent followed by Value Added Taxes (VAT) with P674.9 million or about 27 percent of the total regional tax collections. Bulk of the collections was registered by the Cagayan de Oro Revenue District Office (RDO) totalling P1.48 billion or 59 percent. This amount is also 29 percent higher from the P1.15 billion tax collections in the same quarter of last year.
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EXCLUSIVE FEATURE:
Farmers liken Virginia tobacco farming to growing gold By BONG D. FABE, Contributing Editor
C L AV E R I A , M I s a m i s Oriental — It’s deep golden color when fully “cured” o r “c o o k e d ” conveys the value Virginia tobacco farmers here are giving this cash-crop.
DESUCKERINNG. Paulino Soriano Jr. shows how to desucker a tobacco plant at his farm in Claveria, Misamis Oriental. photo by bong d. fabe
Small-scale farmers in this first class municipality located 30 kilometers eastnorth-east of the provincial capital city of Cagayan de Oro are favouring fluecured tobacco over other crops because they are earning a weekly income from the sale of tobacco leaf while other crops take months before they can be sold. Virginia tobacco is fast becoming Claveria farmers’ choice cash crop because tobacco leaf here can be grown and harvested allyear-round and generate a very good income starting in the s econd month since transplantation that continues every week until
the leaf ’s fourth month when the tobacco plant is uprooted to give way to another cash crop like corn or cassava or beans. P l a n t i n g Vi r g i n i a tobacco was just an additional incomegenerating crop to farmers here when it was introduced by PMFTC, Inc. in 2012. But when the tobacco multinational giant began commercial operation of it’s first-ever “continuous production operations” in the fourth quarter of last year, flue-cured tobacco leapfrog as the main crop as evidence by a spike in the number of farmers now cultivating tobacco from tobacco/PAGE 9
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One Oasis tops off Building 1
One Oasis set as 1st condo in downtown CDO By MIKE BANOS Editor-at-Large
A
S EXPECTED, Filinvest One Oasis Cagayan de Oro remains on track as the first to f i n i sh am ong condominiums now under construction downtown.
One Oasis CDO, the very first resort-themed, midrise condo development of Filinvest in Cagayan de Oro City, has set the topping off ceremony for its Building 1, the first of five in the AsianBalinese inspired 2.7-hectare complex in Rosario Limketkai Avenue, Lapasan, Cagayan de Oro City on Saturday, June 27.
An architect’s perspective of One Oasis clubhouse and condominium building by Filinvest.
City Mayor Oscar S. Moreno and his wife Arlene, honorary chair of the Cagayan de Oro City Tourism Board, have been invited to grace the topping off ceremony. In building construction, topping off [sometimes referred to as topping out] is a builders’ rite traditionally held when the last component is placed atop a structure
during its construction. “Completion and delivery dates are top considerations of Filinvest Land, which sets our project apart from the rest which have a 5-year lag time,” notes Ms. Ara Solidum, FLI Area General Manager for North Mindanao. Barely 19 months after its ground breaking last 08 oasis/PAGE 11
P12 daily wage hike takes effect next week: RTWPB
Agri production PRODUCTION of agricultural products in Northern Mindanao fared well during the first quarter of 2015. The National Economic and Development Authority (NEDA) in the region reported during a media forum last week that the region’s production of palay, corn and coconut posted favorable outputs during the first three months of the year. The volume of palay produced was registered at 180,694 metric tons (MT), 2.78 percent higher than the volume of palay production in the same quarter of 2014. Except for Misamis Occidental, all the provinces in the region posted production growths during the period.
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By URIEL C. QUILINGUING, Contributing Editor
WATERING. A tobacco farmer waters tobacco seedlings, while at his background, another tobacco farmer is clipping tobacco seedlings. Clipping, which usually starts when the seedlings are 3 weeks old, ensures uniform growth of the tobacco leaf. photo by bong d . fabe
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A 12-peso across-the-board daily wage increase for workers in private firms in Northern Mindanao will take effect on July 4 this year, according to the Regional Wage and Productivity Board
(RTWPB). But the Associated Labor Union-Trade Union Congress of the Philippines (ALUTUCP), who petitioned on July 18 last year for an P89 across-the-board wage
adjustment felt shortchanged. “Gamay ra kaayo. Dili makasulbad sa taas nga presyo sa palaliton (Too little. It’s not a solution to price increases in goods) ,” ALU-TUCP regional vice president Nicandro Borja said yesterday in reaction to RTWPB Wage Order No. RX-18 that was issued on May 12, this year. RT WPB chairman Raymundo G. Agravante, Department of Labor and Employment 10 regional director, however maintained the P12 daily wage increase is a “just share in the fruits of production and in consonance with the national goal of inclusive growth through decent and productive work.” hike/PAGE 11
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