BusinessWeek MINDANAO 2 cents
THE BUSINESSMEN’S NEWSPAPER
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 52
Market Indicators As of 6:30 pm oct. 3, 2014 (Friday)
FOREX
PHISIX
US$1 = P44.75
7,247.03 points
6
X X Briefly 50.77
cents
points
CDO’s supplemental budget SUPPLEMENTAL Budgets No. 4 of the General Fund and SB No. 3 of the Special AccountEconomic Enterprises for Fiscal Year 2013 of Cagayan de Oro, involving appropriations in the amount of P56,047,857 and P7,540,167, respectively, which were approved by the 17th City Council headed by Vice Mayor Caesar Ian E. Acenas, shows substantive compliance with the provisions of the Local Government Code and its implementing rules and regulations. This was cited by DBM Regional Director Annabelle M. Atillo in her letter review of the supplemental budgets approved by the City Council under Appropriation Ordinance No. 12806-2014 dated June 30, 2014 which prescribed into ordinance on July 19, 2014. These were reviewed and favorably endorsed by the committees on finance and ways and means and on laws and rules chaired by Councilors President Elipe and Ramon Tabor, respectively.
Safe water THE Cagayan de Oro City Council committee on health and sanitation chaired by Councilor Dante Pajo is slated to discuss complaints from various cause oriented groups, churches and academe regarding the safety of water from Rio Verde and the proposal for the conduct of a sample water analysis by an independent entity. This is in response to the special report of Councilor Zaldy Ocon during the regular session few weeks ago. The councilor presented video clips of his inspection at Lapinigan Creek in KiliogLibona, Bukidnon with a group. Councilor Ocon said the downstream of the said creek is the Cagayan de Oro River which is an unclean source of water of Rio Verde. He said this has been distributed to the Cagayan de Oro Water District (COWD) for the past years.
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Monday | October 6, 2014
Amreco decries giving P-Noy extra powers By JOEY SEM G. DALUMPINES Contributor
No shortage in the supply of coins, BSP says
T
HE Association of Mindanao Rural Electric Cooperatives (Amreco) has opposed the move of the Department of Energy seeking emergency powers for President Benigno Aquino III for him to address the projected power shortage next year, particularly in Luzon.
Amreco president Sergio Dagooc said that when the power crisis has crippled Mindanao for the past five years, no recommendation to that effect has been sought to ease the island’s power situation. “Are you telling us that the Filipinos in Mindanao are second-class citizens?” Dagooc stressed. He said a Mindanaobased solon also raised this issue with the Department of Energy on several public hearings in the committee on energy in the lower but also got no answer from the agency concerned. Dagooc stressed that the DOE is the agency mandated to ensure energy reliability not only for Luzon but also nationwide. He said he is already satisfied that Amreco has made its stand about the power situation in Mindanao. amreco/PAGE 7
By APIPA P. BAGUMBARAN Contributor
EIDL ADHA. A girl removes her slippers as she prepares to join her family in prayer during Eidl Adha on Saturday, October 4, at Times Beach Road in Davao City. mindanews photo by toto lozano
Oro lawmakers push government takeover of public utilities T WO l aw m a ke r s f rom Cagayan de Oro have sought Congress’ approval to grant Aquino government “the authority to take over or direct the operation of any privately-owned public utility or business affected with public interest.” In a joint resolution, Rep. Rufus Rodriguez (2nd district) and his brother, Abante Mindanao party-list Rep. Maximo Rodriguez cited the need to invoke Article XII (National Economic and Patrimony), Section 17 of the 1987 Constitution, which provides that in times of national emergency, when the public interest so requires,
the State may take over or direct the operation of any privately-owned public utility or business affected with public interest. “Wit h t h i s n at i on a l e m e r g e n c y, b u s i n e s s establishments all over the country owning or having relatively large stand-by generations producing at takeover/PAGE 7
THE Bangko Sentral ng Pilipinas (BSP) here said there is no shortage in the supply of coins. According to BSP, they have issued around 21.86 billion pieces of coins as of August 31, 2014. Dexter Erick Demafeliz, senior research specialist of BSP Cagayan de Oro branch, said the problem is not on supply but on circulation of coins. This is because some people keep coins in piggy supply/PAGE 7
HOUSES ON STILTS. A boat carries passengers from the other side of Lake Mainit to their houses built on stilts. file photo by roel catoto
PH adopts universal fishing treaty By BONG S. SARMIENTO, MindaNews
GENERAL Santos City -- Conser vation efforts for highly migratory fish stocks pushed by various tuna industry stakeholders here got a boost after the Philippine government finally adopted a universal fishing treaty that will take effect this month. Department of Foreign Affairs Secretary Albert del Rosario said in a statement on Thursday he recently
deposited to the United Nations the Philippines’ instrument of ratification of the Agreement for the Implement at ion of t he P rov i s i on s of t h e U N Convention on the Law of the Sea (UNCLOS) relating to the Conservation and Management of Straddling Fish Stocks and Highly Migratory Fish Stocks. He submitted it to UN Undersecretary-General for
Legal Affairs Miguel de Serpa Soares. The Fish Stocks Agreement, as the treaty is more universally known, out lines pr inciples for the conser vation and management of those fish stocks and establishes that such management must be based on the precautionary approach and the best available scientific information. It also elaborates on the fundamental principle adopts/PAGE 7
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