Mindanao Daily B7 NEWS
thursday | November 21, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
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including P4 billion for school buildings, heavily damaged by recent calamities particularly ‘Yolanda’. Allocations for agencies In the proposed budget, Department of Education and state universities and colleges will receive P2.75 billion and P1.25 billion respectively, for the repair and rehabilitation of school and academic buildings, Drilon said. The Department of Public Works and Highways will be provided with P3 billion to repair roads, bridges a nd ot he r gover n ment infrastructure, he noted. A not her P1.5 bi l lion will a lso be allotted for the restoration of declared historical sites which were damaged specifically by the 7.2 magnitude earthquake in the Visayas region. Expenses for the repair of hospitals amounting to P1 billion and purchase of ho s pit a l e qu ipme nt amounting to P500 million will also be allotted through the Department of Health. A total of P1.5 billion will be given to the National Housing Authority for its purchase of relocation sites and construction of housing units. The Department of Tr a n s p or t at ion a nd Communications will receive P1 billion to repair airports and ports and P1 billion to the local government units to repair rural health centers and fund other rehabilitation programs. Needs immediate passage Drilon explained that t he Congress should expedite the passage of the bill as the current General Appropriations Act will expire by December 31 or else the budget may no longer be used. He stressed that given the urgency of providing funds to the rehabilitation or reconstruction efforts, t he Senate c a n a l ready start consultations on the proposed supplement a l budget. At the same time, the Senate will wait for the certification of the national treasurer as to the availability of funds and for the House to pass and transmit to the Senate its version of the measure, he added. “The House needs to pass it first because it is a corresponding measure f i led in t he senate,” he added. “It will be tackled if the House version comes and with certification of National Treasurer as to the availability of funds.” Drilon said it will be most favorable if the House version of the bill will be filed by the end of November; he is also optimistic that if all goes as planned, it will be passed by the first week of December. “We will suspend the debates on the 2014 budget if the House will pass a version on the supplemental budget,” he noted. (Azer N. Parrocha/ PNA)
tax, real property tax, tax on delivery trucks and vans, tax on sand, gravel, and other quarry products, and fines and penalties. The proposed 2014 Annual Budget reflects the growth of local tax collections from 2010 to 2011 at 18 percent and from 2011 to 2012 at 11 percent. In 2012 to 2013, local taxes, however, remained dormant without any increase nor decrease at all. Growth rebounded in 2013 to 2014 at an estimated 22 percent. Another source of income of the city government, which is service income, is estimated to grow by 3 percent in 2014 from the current year. Service income is expected to reach P136,618,000 by end-2013 and P150,740,000 in 2014. Service income refers to revenues collected from clearance and certification fees, mayor’s clearance, tax clearance, police clearance, certification fees, and garbage fees. It steadily grew by 15 percent from 2010 to 2011, 8 percent from 2011 to 2012, 13 percent from 2012 to 2013, and only 3 percent from 2013 to 2014. Permits a nd licenses income of the city is also estimated to grow 18 percent from P133,905,200 this year to P158,545,000 in 2014. This source of income covers fees on weights and measures, franchising and licensing fees, permit fees, signage, sign, support fees, building per mit fees, occupa nc y permit fees, electrical permit fees, plumbing permit fees, excavation fees, mechanical fees, and material testing fees. A lso, t he Interna l Revenue Allotment (IRA) of the city is estimated to increase to P2,932,695,052 in 2014 from the current y e a r ’s P 2 , 62 6 , 74 4 , 2 70 , Dayanghirang said. The estimated increases in the sources of income by next year were made as basis for the proposed 2014 Annual Budget. The P5.1-billion proposed budget primarily covers the P4,147,933,539 general fund proper, P913,671,698 for de velopment f u nd , and economic enterprise allocation for operations as follows: markets, P61,308,047; slaughterhouse, P15,000; Davao Cit y O verla nd Transport Terminal, P20,000; Sta. Ana Port, P2,529,568; cemeteries, P2,500,000; and Magsaysay Park, P337,000. The three basic development programs under the development fund are infrastructure, social, and economic. (PNA)
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Damage... from page B1
struck on November 8. “H ig h w i nd s , he av y rains and localized f loods dest royed houses a nd infrastructure, including irrigation facilities, and resulted in losses of the main staple rice paddy, sugarcane and coconut crops, as well as livestock, poultry and
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f isheries,” the Food and Agriculture Organisation (FAO) said in a statement. The forecast for damaged areas included some 77,476 has. of rice crops and 20,951 ha of maize crops, it added. The FAO also said that imports of rice are expected to increase by 20 percent next year to 1.2 million tons. Earlier on Tuesday the Philippines’ National Food Authority (NFA) said it will import up to 500,000 tons of rice from its neighboring countries, possibly before the end of the year, as it replenishes stocks that have been depleted by the ongoing typhoon relief efforts. Because of Yolanda and a not her t y phoon which hit northern parts of the Philippines in October, the FAO cut its 2013 aggregate rice paddy output forecast – including the main 2013 season a nd t he 2013/14 secondary season – to 18 million tons from previous estimates of a bumper crop of 18.9 million tons. “At the revised level, the 2013 paddy output would be slightly lower than that of 2012,” it said. The final output w i l l de p end on t i mely rehabilitation and provision of seeds and fertilizers to allow farmers to replant before the end of the sowing period, the FAO said, calling for $24 million for immediate action targeting 250,000 households. Philippine authorities a nd i nter nat iona l a id agencies face a mounting humanitarian crisis, with the number of people displaced by the catastrophe estimated at 4 million. – Reuters
Rehab... from page B2
December 24, 2013. Relatively, Petilla said distribution of the small power generator sets to areas badly affected by “Yolanda” just started Wednesday instead of Friday last week after loading
of these to the C130 planes were bumped off in lieu of transportation of relief goods. The DOE earlier said it will deploy a total of 164 mostly 1-3kVa generator sets as power remains down particularly in Leyte. Petilla said 60 of the generators will be deployed to Leyte and 45 in Samar while bigger capacity generators will be sent to a Leyte hospital and a water utility service. The other areas where the generators will be deployed are Iloilo, 10; Masbate, four; Coron, Palawan, five; and Bantayan, Cebu, eight. T he generators were sourced from the DOE office in Bulacan. (PNA)
Store... from page B2
gas stations, malls, hardware stores, and water refilling stations particularly in areas of Tacloban, Ormoc, Palo, Maasin, Baybay, Catbalogan, Calbayog, Borongan, and Catarman. DTI also assured the public for regular monitoring in order to update stores resume business after the onslaught of the calamity. (PNA)
Ayala... from page B2
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ALI said it intends to take El Nido Resorts to its next stage of sustainable de velopment , g iven it s proven t rack record of building world-class real estate projects and strong corporate philosophy on sustainability. “ T he t r a n s a c t ion i s expected to close before yearend 2013,” it said. (PNA)
Companies... from page B2
Sicat believes that more IPO listings can benefit the stock market. “I think it is good because there is more supply. We are not having a problem that there is less supply,” he said. (PNA)
CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739 CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011
CDO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City