BusinessWeek MINDANAO THE BUSINESSMEN’S NEWSPAPER
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 59
Market Indicators
As of 6:14 pm oct. 21, 2014 (Tuesday)
FOREX
PHISIX
US$1 = P44.74
7,068.03 points
8
X X Briefly 10.50
cents
points
Poverty reduction OROQUIETA City -- All civil society organizations (CSOs) have been encouraged by the Department of the Interior and Local Government (DILG) to attend the CSO assembly in their respective local government units (LGU’s) from Oct. 20-31. The CSO’s are needed to identify poverty-reduction projects through the participatory approach in planning for their budget and implementation in 2016, DILG Provincial Director Sanivier G. Patoc said. The assembly aims to go through the process of conducting poverty analysis and crafting of povertyreduction strategies and targets to ensure the implementation of the projects towards the realization of achieving the inclusive growth called for in the Philippine Development Plan (PDP), he added.
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Congress seen to reject emergency powers bid W
By MYRNA VELASCO, Contributor
ITH the Department of Energy (DOE) failing to justify that power supply shortfalls will really happen next year, the House committee on energy has indicated that it can now drop the option of granting President Aquino an emergency powers.
House committee on energy chairman Reynaldo V. Umali noted that “with the situation turning from bad to better, I think there is no need to rush this.” “If this is the direction that we’re having, then there is no need anymore to pass this joint resolution,” the lawmaker stressed. It later on became a consensus in the entire committee that the emergency
powers option or the need to invoke Section 71 of the Electric Power Industr y Reform Act (EPIRA) may already be junked and that the scouring of quick fix measures must just be concentrated on the alternatives, primarily on tapping additional capacities from the interruptible load program. Umali similarly sounded off the warning of Senate reject/PAGE 11
Model OFW family AS a way of paying tribute for helping the economy through their remittances, the Overseas Workers Welfare Administration (OWWA) region 10 awarded on October 20, two families from the region whose work abroad helped and given positive impact not only to their family but community as well. OWWA Administrator Rebecca J. Calzado said that it has been 10 years since the creation of this concept. She said that the goal was to acknowledge the migrant Filipino workers and their families and the sacrifices they make to leave their loved ones behind, work overseas and fend for their needs at home. Calzado added that the criteria remain unchanged. One is family solidarity; second is prudent lifestyle and third is positive contribution and impact to the community and society morally and economically.
Wed-Thu | October 22-23, 2014
SKYLAB ON LAND. It looks dangerous, but ten people including children have become used to riding this contraption called Skylab along the national highway in Bayugan City, Agusan del Sur. mindanews photo by erwin mascarinas
300-MW Davao coal-fired plant almost complete, testing soon By CARMELITO Q. FRANCISCO, Correspondent
COAL DOME. Therma South, Inc. is getting ready to test its 300-megawatt coal-fired power plant in Davao City in the next few months. A subsidiary of Aboitiz Power Corp., TSI announced the construction phase is now 90% complete.
DAVAO City -- Therma South, Inc.’s (TSI) 300-megawatt (MW) coal-fired power plant was more than 90% complete as of the end of September and will soon be ready for a test run. “ Te s t i n g and commissioning is expected to commence in the next few
months so operations are still on schedule for the first half of 2015,” said Benjamin A. Cariaso, Jr., president of TSI, a subsidiary of Aboitiz Power Corp. The switchyard components that will connect the plant to the transmission system of the
National Grid Corporation of the Philippines have also been acquired, he added. Twenty-two distribution utilities and electric cooperatives in Mindanao have signed power supply contracts with TSI as of September, of which 13 have been approved by the Energy Regulatory Commission. plant/PAGE 11
MisOr launches drive against More consultations on BBL set delinquent real property taxes By MINDANEWS
GENERAL Santos City – The House of Representatives’ ad hoc committee studying the proposed Bangsamoro Basic Law (BBL) will hold four major public consultations this week in various parts of Region 12. S outh C otabato (1st Dist r ic t) R ep. Pe dro Acharon Jr., one of the four committee vice chairs, said the consultations are scheduled on Thursday and
Friday in four key cities in the region. He said the committee, which will be led by its chair Cagayan de Oro Rep. Rufus Rodriguez, will initially meet with various sectors in Cotabato City on Thursday, October 23. S i m u l t a n e o u s consultations will be conducted on Friday, October 24, in Tacurong City for bbl/PAGE 11
M I S A M I S O r i e nt a l - The province of Misamis Oriental thru the Provincial
Treasurer’s Office will soon launch a massive campaign drive to collect delinquencies
on real property taxes. Gov. Bambi Emano ordered Marilou Rivera, Officer in Charge of the Provincial Treasurer’s Office, to hold a 2-day conference with all municipal treasurers in order to discuss and implement measures to be undertaken against delinquent owners of real properties. Emano also tasked the Provincial Treasurer’s Office taxes/PAGE 11
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