BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 126
Market Indicators
As of 5:21 pm March 16, 2017 (thursday)
FOREX
PHISIX
US$1 = P50.318
7,286.34
3.9
X X Briefly
cents
32.55 points
Tax measures EVEN in the land of the “Punisher,” Commissioner of Internal Revenue Caesar R. Dulay had to plead to the President’s supporters to rally behind the 2017 campaign of the Bureau of Internal Revenue (BIR) to collect P1.829 trillion in taxes to fund the various programs of President Rodrigo Roa Duterte which are intended to improve the lot of Filipinos, especially the less fortunate. The appeal was made during the 2017 Tax Campaign kickoff of BIR Revenue Region (RR) No. 19, Davao City at the Davao Convention Center. Citing the President’s election campaign banner of “Tunay na Malasakit” and the BIR’s 2017 tax campaign theme of “Tunay na Pagbabago Para sa Bayan.” “To realize true change, I humbly appeal to all you to cooperate and pay your taxes correctly to support the goals of this administration in the same way that you have supported and continue to support President Duterte as validated by his most recent high satisfaction rating. We seek the same show of support to the BIR from you,” Dulay said
Rice subsidy SECRETARY Judy M. Taguiwalo of the Department of Social Welfare and Development (DSWD) has released the guidelines on the provision of rice subsidy to Pantawid Pamilyang Pilipino Program households. This is part of the order of Pres. Rodrigo Duterte who gave particular attention to the 4Ps program during his first State of the Nation Address (SONA) in the context of strengthening the government’s delivery of social services. As Pres. Duterte himself said, “The beneficiaries of 4Ps shall be made to become independent and self-reliant after they graduated from the program. We aim to present them with other forms of assistance so they can stand on their own two feet. I have decided to direct the DSWD to provide rice subsidies to the poorest families.”
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By MARK FRANCISCO, Staff Writer
HE association of electric cooperatives in Mindanao is lobbying an alternative to the planned wholesale electricity spot market (WESM) which is set to take effect in the three months. T h e D e p a r t m e nt of Energy (DOE) announced that the WESM will be implemented by June 26 if plans don’t miscarry through the Philippine Electricity Market Corporation (PEMC). Mindanao Rural Electric C ooperatives (Amreco) president Sergio Dagooc said there are several provisions in the DOE’s WESM plan which are not applicable in the Mindanao grid unlike
those that are in place in Luzon. Besides, Dagooc added that it took the Luzon grid six years to perfect its own WESM operations by putting in place a temporary Systems Operations mechanism since 2001 before the spot market was fully implemented in 2006. Along this line, Amreco convened all its 34-member power/PAGE 11
SUN DRYING. A farmer dries “palay” in Kamagong, Nasipit Agusan del Norte on a sunny day yesterday. State weather bureau PAGASA is yet to confirm the onset of the summer season as there are still indications of the northeast monsoon that will bring scattered rain-showers over the eastern seaboard of the archipelago. Photo by Jun Ayensa
Chinese firms in talks for new plants in Agus-Pulangi hydro complexes By CARMELITO Q. FRANCISCO, Correspondent
DAVAO City -- Chinese comp anies are now in talks with the government and potential local private sector partners for the development of two additional hydroelectric power plants at the Agus and Pulangi complexes in Mindanao that could produce about 550 megawatts (MW)
of new supply. Mindanao Development Authority (MinDA) Deputy Executive Director Romeo M. Montenegro said these two proposed plants -- the Agus 3 project in Lanao del Sur that could produce about 250 MW and the Pulangi 5 project in Bukidnon with a 300-MW output -- are
expected to help balance the Mindanao energy mix between renewable and fossil fuel by 2030. Mr. Montenegro, speaking at the weekly Habi at Kape media forum here on Wednesday, said Pulangi 5 was among the projects agreed upon when President Rodrigo R. Duterte visited China last year, while Chinese hydro/PAGE 11
MisOr finally enjoys P700M share in tobacco excise tax By BONG FABE, Contributing Editor
FOR the first time since Virginia Tobacco farming started in the Municipality of Claveria in 2012, Misamis Oriental stands to get at least P700 million share from the excise tax. RA 7171, Section 3 states that Virginia Tobacco-producing provinces will get a tobacco/PAGE 11
CENTER AGAINST ILLEGAL DRUGS. Davao Archbishop Romulo Valles thanks the Ateneo de Davao University for setting up the Center Against Illegal Drugs (CAID) during its blessing on Wednesday. The Center has four components: a hotline and referral helpline, human rights training and in-house drug prevention education program, community-based healing and recovery for drug reformists, and research on the illegal drugs trade in Mindanao. MindaNews photo by CAROLYN O. ARGUILLAS
Cebu Pacific launches 2 new flights from CdO CEBU PACIFIC is expanding its inter-regional network, as the budget carrier launched on Wednesday two new routes from Cagayan de Oro. In a statement, Cebu Pacific said it started on Wednesday its four times weekly flight between Cagayan de Oro and Tagbilaran, as well as its three times weekly flight
between Cagayan de Oro and Bacolod. The new routes will use the Gokongwei-led carrier’s new ATR 72-600 aircraft, which was delivered last Feb. 28. “We believe that these new routes will not only boost tourism, but also increase launches/PAGE 11
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