Mindanao Daily Set B (December 31, 2016)

THE

FOUR-WAY

TEST

of the things we think, say or do

1. Is it the TRUTH? 2. Is it FAIR to all concerned?

3. Will it build GOODWILL and BETTER FRIENDSHIP? 4. Will it be BENEFICIAL to all concerned?

A message of concern by Dir. Dante Sudaria, RCCDO

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MDN

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PNP chief warns vs. indiscriminate firing mark francisco, Section Editor EDITOR: CHENG ORDOñEZ

Saturday

December 31, 2016

P

HILIPPINE National Police (PNP) chief, D ire c tor G ener a l Ronald Dela Rosa, has warned against indiscriminate firing as the PNP targets to achieve “zero casualty” in welcoming the New Year.

”We want zero death, zero casualty caused by illegal discharge of firearms and indiscriminate firing during the New Year celebration,” Dela Rosa said.

In an earlier press conference in Camp Crame, Quezon City, Dela Rosa said that he has instructed all policemen nationwide to conduct patrols in the streets and strictly implement their campaign against indiscriminate firing from 5 p.m. of Dec. 31, 2016, to See warns, page B3

B1

RTWPB-13 awards SQ Seal of Recognition to l2 establishments

BUTUAN CIT Y – The Caraga Regional Tripartite Wages and Productivity Board awarded the Service Quality Seal of Recognition and Two-tiered Wage System Certificate of Recognition to 12 establishments/firms, at K Search Resort, Caasinan, Cabadbaran City, during the 83rd anniversary celebration of the Department of Labor and Employment, recently.

The Service Quality Seal of Recognition is given to establishments that successfully implement and sustain a Productivity Improvement Program as a means to ensure service quality among standard hotels, accommoFreedom of Information. Public Attorney’s Office employees show posters from Phillipine Information Agency in dations and restaurants. For See awards, page B3

support to the FOI program of the government. (LLJR-PIA6)

yearender

DOF in 2016: Stepped-up efforts towards regional integration, financial inclusion THE first six months of the Duterte administration in 2016 was a year of heightened efforts by the Department of Finance (DOF) toward regional integration with our Asian neighbors and the pursuit of its advocacies on financial inclusion in tandem with both international and local development partners.

A defining moment in the

government’s quest for greater regional unity was President Duterte’s directive to his Cabinet during his four-day visit to Beijing on the swift pivot to integration with the member-economies of the Association of Southeast Asian Nation (ASEAN) and our trading partners South Korea, China and Japan.

In Beijing last October, Fi-

nance Secretary Carlos Dominguez III and Socioeconomic Planning Secretary Ernesto Pernia, who were part of the President Duterte’s delegation on his state visit to China, jointly announced that while the Philippines will maintain its good relations with Western economies, it will now push for “stronger integration” with its neighbors in the region.

“ The Cabinet will move strongly and swiftly towards regional economic integration.

This is why the President prioritized foreign trips to ASEAN and Asia,” said Dominguez and Pernia in a joint statement issued while they were still with the President in China.

“We will maintain relations with the West but we desire

stronger integration with our neighbors. We share theculture and a better understanding with our region,” Dominguez and Pernia said.

The move, they said, will open for the Philippines countless opportunities for trade and investment in amarket of 1.8 billion people across the region, See yearender, page B3

Editorial: e-mail: mindanaodailynews@gmail.com • Advertising: e-mail: mindanaodaily.ads@gmail.com Contact: 0917-7121424, 0947-8935776

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News

Saturday, December 31, 2016

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Starting or expansion loans available for businesses

S

tart-ups or full operating companies can avail of collateralfree loan to start a business or meet increased purchasing orders especially on Christmas and holidays.

Finance company First Circle Growth Finance Inc. provides short and longterm financing to Philippine Exporters Confederation Inc. (PHILEXPORT) and its members.

“With the “Ber” months, inventory is a common concern of business owners. If you expect a surge of customers and clients but have insufficient capital to cover the costs, applying for short-term financing is a solution to the issue,” advised First Circle.

It said short-term financing is a loan that covers a period of up to a year and is used to fund

activities such as increasing inventory and supplies, fulfilling purchase orders, and meeting payroll and salary needs.

Long-term financing, meanwhile, is a credit scheme payable in more than one year and used to finance research and development (R&D) studies, acquire equipment, cover the costs of projects, purchase land to be used for the business, and expand company operations.

First Circle added there are various loan products that companies can choose from depending on their business needs.

These include line-ofcredit, secured and unsecured loans, accounts receivable financing and purchase-order financing.

The finance firm offers business growth finance from Php100,000

to Php500,000 bearing an interest rate of 3 percent per month.

To learn about how to apply for a business loan and which type of loan

suits best the business, the First Circle website provides an easy-to-follow

SMEs urged to know rights as borrowers Small and medium enterprises (SMEs) must expand their knowledge on their legal rights as a borrower, according to a legal expert of the Credit Information Corporation (CIC).

Aileen Amor-Bautista, legal counsel for CIC, is urging borrowers to make it their business to know, protect, and exercise their rights when it comes to their credit record.

Republic Act No. (R.A. No. 9510) of 2008, otherwise known as the Credit Information Systems Act (CISA), enshrines the rights of borrowers regarding who gets to see their credit data and how such information

may be used, said Bautista at a recent business forum on enhancing SME access to credit, organized by the CIC. The CIC is the central registry or repository of credit information in the country, mainly tasked to receive and consolidate basic data and provide access to the credit history and financial condition of borrowers.

The agency has launched a nationwide road show for SMEs, designed to help them understand the salient features of the CISA. Bautista said one of these rights is that borrowers themselves should have

“ready and immediate access” to credit information about them. This is so that they can also exercise their right to “dispute erroneous, incomplete or misleading credit information.”

If the borrower discovers wrong information in his credit record, he is entitled to a simplified dispute resolution process to quickly settle or resolve the issue.

The borrower must likewise be informed of any correction or removal of the erroneous, incomplete, or misleading information “within 5 working days from verification or conclusion of an investigation or from deletion of the disputed information.”

And if his application for a loan is turned down, Bautista continued, the applicant has the right “to know the causes of refusal of an application for credit facilities or services from a financial institution that uses credit data as basis or ground for such refusal.”

At the same time, R.A. No. 9510 says a borrower ERRATUM

Iwas Paputok campaign. The Department of Health-10 (DOH) with the Health Education and Promotion Unit convenes the members of the press to strengthen their advocacy for OPLAN Iwas Paputok in preparation for any untoward incidents and eventualities come the celebration of Christmas and New Year on December 23.(RTP/PIA10) Republic of the Philippines Department of Transportation LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City ARMANDO M. MONTIMOR Applicant/s

CASE NO. 2016-10-2484 (2011-10-1913)

NOTICE OF HEARING APPLICANT(s)/PETITIONER(s) request/s authority For approval of extension of validity of certificate of public convenience to operate TAXI service on the line ;Within Cagayan de Oro and from said place to any point in Region X and vice versa with the use of ONE(1)units.

This application/petition shall be considered by this Board on January 11, 2017, at 10; 00 A.M. at this Board on which date Applicant/ (s) Petitioner(s) shall formally submit his/her/ their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least FIVE(5) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/PETITION. WITNESS, AMINODEN D. GURO, OIC –Regional Director LTFRB –Region 10, this 28th day of December, 2016.

SOLAYMAN B. MACATOON, JR. Hearing Officer MDN: Dec 31, 2016

Republic of the Philippines Department of Transportation LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City

Republic of the Philippines Department of Transportation LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City

MEDEL E. TUPAG CASE NO. 2016-10-2483 Applicant/s (2011-10-1561)

GARMONES MARKETING & GEN. SERVICES CASE NO. 2016-10-2491 Rep. By; KAREN MARIE BURDEOS OSIN Applicant/s

NOTICE OF HEARING APPLICANT(s)/PETITIONER(s) request/s authority for approval of Extension of validity of Certificate of public convenience to operate PUJ service on the line ;Cogon Market to Lapasan and vice versa with the use of two(2)units.

This application/petition shall be considered by this Board on January 11, 2017 at 10; 00 A.M. at this Board on which date Applicant/ (s) Petitioner(s) shall formally submit his/her/ their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least FIVE(5) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/PETITION. WITNESS, AMINODEN D. GURO, OICRegional Director, LTFRB-Region X, this 28TH day of December, 2016.

SOLAYMAN B. MACATOON, JR. Hearing Officer MDN: Dec 31, 2016

guide from the pre-application process to approval waiting time.

NOTICE OF HEARING APPLICANT(s)/PETITIONER(s) request/s authority for issuance of Certificate of Public Convenience to operate TH-FREIGHT TRUCK service along the line; Within Cagayan de Oro City and from said place to any point in the Island of Mindanao, accessible to any motor vehicle traffic and vice versa with the use of One(1)units.

This application/petition shall be considered by this Board on January 11, 2017 at 10;00 A.M. at this Board on which date Applicant/ (s) Petitioner(s) shall formally submit his/her/ their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least TEN(10) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/her/ their oral testimony(ies).

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/PETITION. WITNESS, AMINODEN D. GURO, OIC –Regional Director, LTFRB Region X, this 29TH day of December 2016.

SOLAYMAN B. MACATOON, JR. Hearing Officer MDN: Dec 31, 2016

Republic of the Philippines Department of Transportation LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City ALEJANDRO J. UBANAN Applicants

CASE NO. 2016-10-2490 (2011-10-1452)

The Notice of Hearing Applicant LYNDON C. BAANG,with the Case No.2016-10-2302(2011-10-1697) (2011-10-1822)the exact units and application for approval of validity with consolidation of cases of CPC to operate TAXI service on the line ;within Cagayan de Oro and from said place to any point in Region X and vice versa with the use of TWO(2)units not as publish……

OUR APOLOGY;LTFRB-X-CDOC Republic of the Philippines Department of Transportation LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City GERALDIN S. CADAYDAY Applicant/s

CASE NO. 2016-10-2354

must be notified by the company of its obligation to submit and disclose basic data about him to the CIC. Bautista clarified that this does not mean that the company must get permission from its client, only that it must inform the customer that it submits regular reports about his credit status to the CIC as mandated by law.

R.A. No. 9510 also protects a person’s or entity’s credit data from those that are not entitled to see it, See rights , page B2 Republic of the Philippines Department of Transportation LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City FELIPE BACOL Applicant/s

CASE NO. 2016-10-2481 (2011-10-1101)

NOTICE OF HEARING APPLICANT(s)/PETITIONER(s) request/s authority to extend the validity of certificate of public convenience to operate PUJ service on the line ;City Proper to Del Carmen (all in Iligan City)and vice versa with the use of one(1)units.

This application/petition shall be considered by this Board on January 13, 2017, at 2;30 P.M. at this Board on which date Applicant/ (s) Petitioner(s) shall formally submit his/her/ their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least FIVE(5) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/PETITION. WITNESS, AMINODEN D. GURO. OICRegional Director, LTFRB Region 10, this 28TH day of December, 2016.

SOLAYMAN B. MACATOON, JR. Hearing Officer MDN: Dec 31, 2016

Republic of the Philippines Department of Transportation LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City JOSIE D. FERNANDEZ Applicant/s

CASE NO.2016-10-2479

NOTICE OF HEARING

NOTICE OF HEARING

NOTICE OF HEARING

APPLICANT(s)/PETITIONER(s) request/s authority for Approval of extension of validity of certificate of public convenience to operate PUJ service on the line ;Cogon Market to Xavier Heights and vice versa with the use of one(1)units.

This application/petition shall be considered by this Board on January 11, 2017, at 10;00 A.M. at this Board on which date Applicant/ (s) Petitioner(s) shall formally submit his/her/ their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least FIVE(5) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/PETITION. WITNESS, AMINODEN D. GURO, OIC –Regional Director, LTFRB –Region 10, this 29th day of December, 2016.

APPLICANT(s)/PETITIONER(s) request/s authority For Issuance of certificate of public convenience to operate TH FREIGHT TRUCK service Along the line;Within Cagayan de Oro City and from said place to any point in the Island of Mindanao, accessible to any motor vehicle traffic and vice versa with the use of ONE(1)units.

This application/petition shall be considered by this Board on January 11, 2017 at 10;00 A.M. at this Board on which date Applicant/ (s) Petitioner(s) shall formally submit his/her/ their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least TEN(10) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/PETITION. WITNESS, AMINODEN D. GURO, OIC –Regional Director,LTFRB-Region 10, this 22ND day of November, 2016.

APPLICANT(s)/PETITIONER(s) request/s authority for the issuance of certificate of public convenience to operate TH FREIGHT service on the line;Within Bukidnon Province and from said place to any point in Mindanao accessible to motor vehicle traffic and vice versa with the use of one(1) units.

This application/petition shall be considered by this Board on January 11, 2017, at 10;00 A.M. at this Board on which date Applicant/ (s) Petitioner(s) shall formally submit his/her/ their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least TEN(10) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/PETITION. WITNESS, AMINODEN D. GURO, OIC –Regional Director, LTFRB-Region 10, this 27TH day of December, 2016.

SOLAYMAN B. MACATOON, JR. Hearing Officer

SOLAYMAN B. MACATOON, JR. Hearing Officer

SOLAYMAN B. MACATOON, JR. Hearing Officer

MDN: Dec 31, 2016

MDN: Dec 31, 2016

MDN: Dec 31, 2016

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Saturday, December 31, 2016

Believe that you can survive The Gospel of Jesus Christ (December27, 2016-Tuesday) But Thomas, one of the twelve, called Didymus, was not with them when Jesus came. So the other disciples were saying to him, “We have seen the Lord!The best weapon to defeat our enemies is to prove that you are right.

Shine like a superstar and do not ruin your life because of any negative

Warns... from page B1

5 a.m. of Jan. 1, 2017. ”I’m requiring them to submit detailed deployment plan to the Directorate for Operations, attention PSD, NOC not later than Dec. 31, 2016, and after activity report not later than Jan. 3, 2017 indicating therein the PNP personnel from other offices,” Dela Rosa said.

Dela Rosa also urged the local executives, especially the barangay officials to join the PNP in patrolling the communities.

He said that they are already considering some places as “hotspots” where “indiscriminate firing” was recorded.

Likewise, Dela Rosa advised the policemen to immediately knock on the door of anyone involved in indiscriminate firing and if refused entry, devise means to get inside the house.

The PNP chief also warned the chiefs of police to perform their duty and make sure that no incidents of indiscriminate firing will happen in their areas of responsibility in welcoming the New Year.

“Death caused by illegal discharge of firearms or indiscriminate firing wherein suspects are not arrested within 24 hours shall be a ground for the immediate relief of the chief of police,” Dela Rosa said.

Dela Rosa said that if the chiefs of police would not do their job, they will be relieved from their post. ”Whenever two chiefs of police are relieved for the same incident, their respective provincial director will likewise be relieved,” he said.

He assured that he will have “no mercy” on policemen who would fire their guns indiscriminately in welcoming the New Year. ”When two provincial directors are relieved, the regional director of the PRO will be relieved,” Dela Rosa said.

Dela Rosa said that he will make sure that grave misconduct charges will be filed against those who would violate his directive aside from dismissal from the service. (PNA)

Awards... from page B1

this year, five hotels from Tandag City and Dinagat Islands were recipients to the recognition: Villa Maria Luisa Hotel, Shacene Pen-

feeling and emotion. Do not allow yourself to be controlled by that within negativity but let your will controls it. Not all the times you feel good about yourself.

Not all the times you can gain comforts from the people around you because they have also different struggles in life.

They thought that you will comfort them also.

Not all the times you sion House, Liam’s Café, Fedy Mart, and Wilsion Agra Multi-Purpose Cooperative from Dinagat Island.

The Two-tiered Wage System Certificate of Recognition is awarded to establishments/firms that voluntarily adopt/implement different productivity-based incentive schemes for their workers. For Caraga, mining is the subject industry of the Advisory issued. For 2016, seven firms from Surigao City and Surigao del Norte qualified for such recognition: Visayas Slaked Lime Corporation, Kurimoto (Phils.) Corporation, JJMA Labor and Janitorial Services, SKAFF Mineworks, Inc., Aguilo Builders, Altos Trucking and Hauling Services, and Tango Romeo General Construction.

Caraga RTWPB Secretary IV Earl Dela Victoria congratulated the awardees and lauded their efforts in prioritizing improvements to their businesses as well as in providing incentives to their workers. He vowed that his office would exert more efforts to help assist establishments to improve through productivity tools and techniques. He encouraged the awardees to share their experiences to others so that they will appreciate the importance of productivity to business success.

Yearender... from page B1

especially now that other ASEAN economies have also committed toward integration and China has pledged to open its capital markets..

ASEAN groups the Philippines, Malaysia, Singapore, Brunei, Thailand, Indonesia, Laos, Cambodia, Myanmar and Vietnam.

In line with the government’s continued efforts to help develop the ASEAN Economic Community, the DOF delivered on the Philippines’ commitment to expand market access in thebanking and securities sectors for the 10-nation ASEAN bloc.

“The Philippines’ Seventh Package of Financial Ser vices Liberalization Commitments is expected to widen access to financial services and products for Filipinos, diffuse advanced financial services practices and technologies from major ASEAN financial markets such as Singapore, and create more jobs in the financial services sector,”

can feel the presence of God deep inside in your heart. Not all the times you can feel passion to move on. Not all the times you can feel secured in your life. Not all the times you can feel strengths within. Not all the times you can feel bravery to face all challenges in life. Not all the times you can feel victories within. Not all the times you can feel the the DOF said.

The DOF, as chair of the ASEAN’s Working Committee on Financial Services Liberalization (WC-FSL), serves as theoversight body to the Financial Services Annex (FSA) of the ASEAN Trade in Services Agreement and the ASEAN Insurance Forum (AIFo).

“Under the stewardship of the DOF, the drafting of the FSA, which outlines the commitments in the financial services sector for ASEAN, has seen commendable progress, with only a few more articles still pending consensus from the ASEAN member states,” the DOF said.

The AIFo, which serves as a venue for ASEAN stakeholders to work together toward the integration of the bloc’sinsurance sector, is another vital area that the DOF is working on as the high vulnerability of the Philippines and the other ASEAN states to natural disasters makes the integration in catastrophic risk insurance a priority concern.

“Insurance integration in the region also provides support to trade in the form of Maritime, Aviation, and Goods in Transit (MAT) Insurance,” the DOF noted.

The Department is also the chair for the Sub-Working Group on Financial Services that will help realize theenvisioned Regional Comprehensive Economic Partnership (RCEP), which consists of the ASEAN members plus Australia, China, India, Japan, New Zealand and South Korea.

T h e D O F- l e d S u b Working Group discusses commitments in the finan-

B3

Biblical reflection

comforts of God. Just in case, you are on this situations right now; comfort yourself. Be positive about yourself. Believe that you can survive and pass these seasons of insignificance of your life. Jesus invites you to come to his comfort.

Matthew 11:28-30”Come to Me, all who are weary and heavy-laden, and I will give you rest. “Take My yoke upon you and

learn from Me, for I am gentle and humble in heart, and YOU WILL FIND REST FOR YOUR SOULS. For My yoke is easy and My burden is light: Printing paid by: Edith Ranoa - Jordan and Crespina Ranoa - Bobong Balino– Cagayan De Oro: # 09187148435: Listen to me via Thunder Radio 97.9 FM- Cagayan De Oro City- 1:00 PMSunday: Please have

cial services sector for the RCEP, which ispotentially one of the largest freetrade-areas in the globe, accounting for about 30% of world GDP. Another area that the DOF spearheaded in 2016 was the Cebu Action Plan, which “seeks to generate concrete cooperative outputs among member economies of the Asia-Pacific Cooperation (APEC) and partner international institutions in implementing initiatives on financial integration, fiscal transparency and reforms, financial resilience and infrastructure financing.”

The DOF continued to follow through on its efforts of promoting financial inclusion across the Asia-PacificCooperation (APEC) region through the hosting of two conferences for the Financial Infrastructure Development Network in Manila in 2016.

In 2 0 1 6 , t he D OFNational Credit Council (NCC) continued its advocacies on financial inclusion by teaming up with government regulators and concerned agencies, private institutions such as insurance companies and brokers, and donor partners that include the Inte r nat i ona l F i nanc e Corporation-World Bank (IFC-WB), Asian Development Bank (ADB) and German Technical Cooperation (GIZ)] on various projects towards inclusive growth.

These include partnering with the Insurance Commission on setting up a Health Microinsurance Framework, whichaims

to offer affordable health microinsurance products to low-income groups.

“The health microinsurance project complements PhilHealth and would cater to the poor by providing them with insurance coverage that would, for instance, include 30,000 assistance for emergency room confinement for only two pesos a day equivalent to a PHP750 annual fee,” the DOF said.

It also partnered with other government agencies in developing plans to address the challenges faced by private insurance firms in developing agriculturebased microinsurance products.

The DOF likewise led efforts to conduct financial literacy workshops on microinsurance and develop microinsurance distribution channels.

In implementing reforms on secured transactions, the DOF-NCC and Land Registration Authority (LRA) teamed up with the IFC-WB in harmonizing the Philippine Chattel Mortgage Law and other related status on secured transactions.

“This project broadens the utilization of movable assets as collateral for loans by micro- small and medium enterprises (MSMEs) thus, increases access to credit of micro enterprises,” the DOF said.

The project led to the filing of counterpart bills in the Senate and the House of Representatives that aimto strengthen the Secured Transactions Legal Framework in the country.

“The DOF-NCC also continues to explore possible areas of collaboration

Bro. Edcel L. Closas my latest book: Merry Christmas! God loves you!!! with donor partners that are geared towards inclusive growth. The ADB, Japan International Cooperation Agency (JICA), GIZ, and Economic Research Institute for ASEAN and East Asia (ERIA) have recently signified interest to support more financial inclusion initiatives of the government through technical assistance,” the DOF said. (PNA)

Rights... from page B2

said the lawyer. Companies that have access to basic credit data-both positive and negative-from the CIC include banks, trust entities, investment houses, financing companies, cooperatives, NGOs, microfinance institutions, credit card companies, insurance companies, and lending institutions.

Also allowed access are accredited credit bureaus and third-party credit data consolidators, and others providing credit reports, ratings, and similar services.

Negative information refers to data concerning the poor credit performance of borrowers, including defaults on loans, adverse court judgements relating to debts, and reports on bankruptcy, insolvency, petitions, and the like.

Bautista said that under the law, negative information in the CIC’s database will be kept “for not more than 3 years from and after the date” the negative information is paid, liquidated, or settled.

Moreover, negative information should be corrected and updated within 15 days from receipt of notice of payment.

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Saturday, December 31, 2016

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