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Volume VIII, No. 236
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Wednesday, March 6, 2019
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Power consumers laud ‘Murang Kuryente’ Act By RUFFY MAGBANUA Mindanao Daily News
CAGAYAN de Oro City--Power consumers from all over the country thanked the Consumer Alliance for Rural Energy (1-CARE) for its landmark Murang Kuryente Act. Party-List Principal Nominee Engr. Ashary Maongco had lauded the effort of Congressman Carlos Roman Uybarreta, lead author of the newly approved “Murang Kuryente” Act. Maongco, said there would be
an estimated decrease of P0.57 per kilowatt hour (kWh) in electricity billings. Uybarreta is the representative of the 1-CARE Party List and concurrent vice chair of the Energy Committee and a member of the Joint Congressional Power Commission. The reduction of the electric bill is equivalent to more or less P115 to P120 in savings for a household with a monthly consumption of 200 kWh), Maongco said, electricity consumers could save more, amounting to
P0.8474 per kWh. This translates to a savings of P169.48 per month and P2,033.76 per year, which would be enough for a household to buy an extra sack of rice. The Senate unanimously approved on final reading a bill seeking to reduce electricity rates by using the Malampaya fund to pay stranded debts and contract costs of the National Power Corp. (NPC). The bill will use the Malampaya fund collection for the payment of Congressman Carlos-Roman Uybarreta (left) and Ashary
SEC warns public against investment schemes anew By JIGGER JERUSALEM PNA
CAGAYAN de Oro City-The Securities and Exchange Commission (SEC) has warned individuals not to invest their money in groups or individuals offering interests higher than what banks and other financial institutions provide to their clients. “If it’s too good to be true, please investigate before investing so you will not regret if your money disappears,” said Atty. Frederick Enopia, the officer-incharge of the SEC regional office serving the Northern Mindanao and Caraga regions. In an interview on Monday, Enopia said they have been receiving reports that a group called “KAPA” or “Kabus Padatuon” (enrich
Bankers support Diokno
THE Bankers Association of the Philippines (BAP) believes that newly-appointed Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno will introduce reforms that would further strengthen the banking industry. In a statement Tuesday, BAP said Diokno, who was the Secretary of the Department of Budget and Management (DBM) under the Duterte and Estrada See SUPPORT, page 11
the poor) has been enticing people to invest money in the form of “donation” for a 30 percent monthly return. KAPA is registered with the SEC as a “religious corporation”, Enopia said. Citing the findings of SEC investigation on KAPA, Enopia said the religious group also operates the KAPA-Co Convenience Store and General Merchandise and KAPA Worldwide Ministry. SEC has recently issued a cease-and-desist order against KAPA and its subsidiaries “after finding substantial evidence that it has been offering and selling securities in the form of investment contracts without the necessary license.” Although KAPA is a registered corporation, SEC said that its certificate of See WARNS, page 11
See LAUD, page 11
Maongco, 1-CARE Party List principal nominee.
No poll bets on grad rites
THE Department of Education (DepEd) on Tuesday discouraged schools from inviting poll candidates to their graduation ceremonies. In a statement, DepEd clarified that inviting candidates to graduation rites is not prohibited but it is “highly discouraged”. “It may be misinterpreted as endorsement of candidate by our principals and teachers this election campaign period,” the statement read. “However, if invitation and/or attendance of a candidate is supported by valid H-TECH. Pinky Sy, Trans-Asia vice president for sales and marketing, shows to the and compelling reason, our media the high-tech equipment inside the bridge of the M/V Trans-Asia 19, the com- officials are warned that this pany’s newest sea vessel plying the Cebu-Tagbilaran-Cebu and Tagbilaran-Cagayan cannot degenerate into an de Oro-Tagbilaran routes, during the ship’s inauguration at the Macabalan wharf on Saturday, March 2, 2019. Photo by Gerry Lee Gorit
See BETS, page 11
A RANKING BDO Unibank Inc. official is optimistic on the appointment of former Department of Budget and Management Secretary (DBM) Benjamin Diokno as Bangko Sentral ng Pilipinas (BSP) governor. In reply to a phone message from the Philippine News Agency (PNA) Monday night, BDO chief market strategist Jonathan Ravelas said Diokno, who also headed the inter-agency Development Budget Coordination Committee (DBCC) on a concurrent basis, has an edge in the
central bank. “He has a bird’s eye view of the economy. He will be able to fine tune what’s needed to support growth shifting from the current 6 percent to a higher gear,” he said. Ravelas said Diokno’s time at the DBM “highlights his commitment to keep fiscal discipline which will be the balancing force to support government but maintain independence.” “He is a good communicator,” he added. Diokno replaced BSP
NEWLY APPOINTED BSP GOVERNOR.
President Rodrigo R. Duterte shakes hands with newly-appointed Bangko Sentral ng Pilipinas Governor Benjamin Diokno on the sidelines of the 35th Cabinet Meeting at the Malacañan Palace on March 4, 2019. Diokno succeeds the late Nestor A. Espenilla Jr. who died last February 23 after battling cancer. Photo courtesy of Richard Madelo/Presidential Photo
Bank official: Diokno has ‘bird’s-eye view’ of economy
See ECONOMY, page 11
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