BusinessWeek Mindanao (June 7-8, 2021)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 151

Market Indicators AS OF 6:00 PM JUNE 5, 2021 (SATURDAY)

FOREX

PHISIX

US$1 = P 47.75

6,796.34

X X Briefly

0.70

4.47

cents

points

Warning to PUVs THE Cagayan de Oro local government has warned that public utility vehicles (PUVs) not following strict health protocols face penalties as the city is currently under Modified Enhanced Community Quarantine (MECQ). Antonio Resma Jr., vice chairperson of Disiplina Muna (Discipline First) Advocacy Team, said drivers and operators face a fine of up to P2,000, for not observing the prescribed 50 percent seating capacity for passengers, and a revocation of special permit to operate issued by the Land Transportation and Franchising Regulatory Board (LTFRB). Resma said a joint operation with other roads and traffic enforcement agencies will be undertaken to strictly monitor PUVs and even private vehicles compliance with protocols.

High power demand THE Independent Electricity Market Operator of the Philippines (IEMOP), which is the entity operating the Wholesale Electricity Spot Market (WESM), has been seeing uptrend in the country’s electricity demand. According to Robinson Descanzo, chief operating officer of IEMOP, the rise in power usage had been mainly traced to the warmer temperatures that have been prevailing because of the summer season. He added “the abrupt increase in demand was coupled by lower supply levels due to generator outages,” as well as the recurring gas restriction dilemma of the Malampaya field.

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Smoke, not nicotine, causes deaths – health expert Inhalation of smoke, not nicotine, is the culprit that causes smoking related deaths and diseases according to a Canadian health expert. “ The nicotine itself is not the problem. The global health

catastrophe we face is due to the way it’s delivered. In short, for anyone wishing to tackle the global toll of 20,000 lives a day lost due to cigarette smoking, we need to remember just four words: ‘it’s the smoke, stupid’,”

Prof. David T. Sweanor, chair of the advisory board of the Centre for Health Law, Policy & Ethics at the University of Ottawa said. He stressed that contrary to popular belief, nicotine is not the

substance that causes these deaths. “There have been many decades of research on the health effects of cigarette smoking, and we have known since at least the 1970s that SMOKE/PAGE 7

ECONOMIC TOLL PEGGED AT P2.5B

NEDA sees Oro econ to slowdown under MECQ

T

HE National E conomic and Development Authority in Northern Mindanao (NEDA-10) on Friday said the city can lose about P2 billion to P2.5 billion worth of business profits during the 15-day imposition of modified enhanced community quarantine (MECQ) due to the coronavirus disease 2019 (Covid-19) pandemic.

N E D A- 1 0 D i r e c t o r Mylah Faye Aurora Cariño, in a virtual presser with the members of the Regional Inter-Agency Task Force, said the agency’s estimate of sector capacity losses was computed based on the 2018 data of the Philippine Statistic Authority 10 that showed 37,340 registered enterprises in Northern Mindanao. Of the total enterprises in the whole region, 9,871 or

26 .43 percent are based in the city that employs about 99,875 workers or 34 percent of the total employment in the region. Cariño said the estimated total sector loss during the said period was between 15 percent and 30 percent, while estimated other services sector loss contribution is between 10 percent and 15 percent. NEDA/PAGE 7

STRICT PROTOCOL. Stricter inspection of motorists along the Opol, Misamis Oriental and Cagayan de Oro City boundary is enforced following the implementation of the Modified Enhanced Community Quarantine (MECQ) due to the rise of Covid-19 cases in the city. photo by gerry gorit

P7.5-B Panguil Bay Bridge unhampered, NEDA assures THE Nationa l Economic and Development Authority in Northern Mindanao (NEDA-10) on Friday assured that the P7.3-billion Panguil Bay Bridge project will be completed

by 2023, regardless of the change in government administration. NEDA-10 director Mylah Faye Aurora Cariño, in an online ASSURES/PAGE 7

GOVERNMENT medical doctors on Friday urged the public to limit their social interactions with family members to reduce the number of coronavirus disease 2019 (Covid-19)

transmissions. Dr. Gina Itchon, head of research and development at the state-run Northern Mindanao Medical Center LIMIT/PAGE 6

Limit 'social bubble' to families, docs tell public DISINFECTING. A City Health Office staffer disinfects her hands before assisting in the swab testing at Magsaysay Park in Davao City on Friday for residents who were exposed to persons who tested positive of COVID-19. The city has been placed under modified enhanced community quarantine from June 5-20 due to a surge in infections. mindanews photo by manman dejeto

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