See SUPPORT

Wed-Thu, September 23-24, 2020

Budget...

from page 5 P6.42 billion in taxes in 2019—a 169 percent increase from the preceding year; • The digital transformation program of the BIR, which introduced additional electronic channels for the filing and payment of taxes.

In 2019, total revenues collected through digital channels reached P1.83 trillion, representing 84 percent of the total BIR collections last year. This amount is 11 percent higher than the 2018 level and 54 percent more than in 2015.

Dominguez said that by 2019, there were already more electronic filers at 58 percent of all taxpayers versus 25 percent in 2015. He said this is targeted to increase in the coming years as the BIR fully digitizes its operations; • The continuing improvements in the delivery of services by the BOC through the streamlining of its operations and modernization of its infrastructure; and • It worked closely with the Congress in crafting the fiscally responsible Bayanihan to Heal As One law and the Bayanihan to Recover as One Act or Bayanihan 2.

Support...

from page 6 Poe that once the FIST bill is passed into law, the BIR would swiftly act on the issuances necessary to

effectively implement its tax provisions.

“Once the law is approved, we will see to it that the revenue regulations and the IRR (implementing rules and regulations) will be issued out, maybe within the next six months,” Dulay said during the hearing.

Senate Bill (SB) No. 1594 or FIST aims to create specialized asset-managing firms that would acquire “bad loans and stagnant properties” from distressed financial institutions.

The House of Representatives earlier passed its version of FIST—House Bill (HB) No. 6816—before the sine die adjournment of the Congress in June.

President Duterte described the FIST bill as a key component of the government’s plan to recover from the pandemicinduced crisis, and urged the Congress to act swiftly on the measure during his 5th State-of-the-Nation Address (SONA)

Finance Secretary Carlos Dominguez III stressed that swift action to preserve the asset quality of banking institutions will ensure the continued strength of the financial sector and help the economy recover faster from the global health and economic crises spawned by the pandemic.

Dominguez said during the same Senate joint hearing that the FIST bill will guarantee a steady source of credit for the pandemic-hit sectors of the economy while providing safeguards to consumers.

The proposed asset management companies under FIST are an “improved version” of the special purpose vehicles (SPVs) provided under a 2002 law passed by Congress to stem the economic damage from the 1997 Asian financial crisis that lasted till the early 2000s, Dominguez said.

Allowing banks to outsource the handling of their non-performing assets to asset management companies will enable them to focus on their primary task of lending to sectors in need of credit and encourage the private sector, government financial institutions (GFIs) and government-owned or -controlled corporations (GOCCs) to help rehabilitate distressed businesses, he added.

The measure provides tax incentives to defray the transaction and transfer costs of non-performing assets to asset management companies.

Dominguez said this would entail foregone revenues of between P3.3 billion and P13 billion every year for the next five years to clear the books of banks of bad debts, and to keep the economy going.

“We believe that the e conomic b enef its of strengthening the financial sector through this effort outweigh the fiscal costs of doing so,” he said.

Dopped...

from page 6 get and internet usage,” said Darius Delgado, Head of Broadband Business at Globe.

From as high as P26 per GB, the Globe At Home Postpaid LTE has gone down to P9 per GB over the last two years or a 65.38% price decrease. Likewise, Globe at Home Prepaid WiFi customers now pay P9 per GB only from as high as P23 in 2017; P15 in 2018; and P10 in 2019 or a decrease of 60.87% since 2017.

Globe At Home wired customers, on the other hand, now have unlimited data access compared to paying up to P13 per GB in 2016.

The company’s price per GB for its prepaid customers is also among the lowest in Southeast Asia. Globe’s P11.25 per GB with its new Go prepaid promo is more affordable compared to Thailand (P190.59); Singapore (P35.60) and Indonesia (P32.76).

Recovery...

from page 6

The company booked a 64.6-percent decline in net income in the first semester of the year, as the enhanced community quarantine imposed on the whole of Luzon starting March 17, 2020 required it to close all 44 of its Luzon stores.

Sales from its Luzon stores accounted for 84 percent of Wilcon’s total sales pre-ECQ.

Wilcon was allowed to re-open stores only on May 16, 2020.

Wilcon president and chief executive officer Lorraine Belo-Cincochan attributed the surge in the demand for some of their products to home improvements projects during stayat-home orders.

“We use aircon, electric fan, everything, more often then, the tendency is there will be more wear and tear… Your home is now your restaurant, it’s your school, everything so you have to buy extra furniture, extra appliances because everybody is living in the house, because everybody is doing everything there,” she said.

In support of an expanding store network, Belo-Cincochan said the company has completed the construction of additional warehouse buildings in its existing main distribution center, and will open a new regional hub in the south of Metro Manila by the end of the year.

“The regional hub is meant to improve our fulfillment and distribution processes to our growing number of stores and customer base in the region. We have also grown our in-house and exclusive product offerings. We not only introduced new brands and added to our categories but also expanded product lines under existing brands,” she said during the company’s

stockholders’ meeting. (PNA)

Funding...

from page 9 Municipalities of Villanueva and Tagoloan as the host LGUs; Barangays Tambobong and Balacanas, both in Villanueva, and Sta. Cruz in Tagoloan, as the affected barangays; and Northern Mindanao as the host region.

“FDC Misamis understands how essential it is to strengthen the capabilities of our stakeholders. The immediate remittance of the financial benefit provides our host communities with added security and available resources to ensure they have a fighting chance of enduring the effects of COVID-19,” said FDC Misamis President and CEO Juan Eugenio L. Roxas.

“We are thankful to the Energy Department, especially to Secretary Alfonso G. Cusi, for giving the green light to reallocate the ER 1-94 funds to back communities as they strategically overcome the new uncertainties brought about by the pandemic.”

FDC Misamis is a subsidiary of FDC Utilities, Inc. and a member of the Filinvest Development Corporation. It owns and operates the 3x135-MW circulating fluidized bed coal thermal plant situated in the PHIVIDEC Industrial Estate. It is one of Mindanao’s biggest baseload power plants and is among the cheapest source of reliable power.

Intrusion...

from page 4 intention is sincere, it would be helpful for him to take “affirmative” action against the spreading locally transmitted coronavirus in Cagayan De Oro City. There is no time to impress people when the dreaded coronavirus is threatening the lives of the residents in Cagayan De Oro.

Perhaps, it would also be wise to review the Rule XV, Article 86, on the “Powers, Duties, And Functions of Local Chief Executives” of the 1991 Department of Interior and Local Government Code so the City Mayor would be refreshed about the limitation of his duties and obligations, which has not made mention of the province in any instance. Wait. The dogs are howling!

DA...

from page 4 9996. MinDA was created to act as the NEDA for Mindanao.

As the NEDA of Mindanao, MinDA is mandated to leafrog all major infrastructure projects that would boost the economy of Mindanao.

That was the intention of the law, nothing less, nothing more.

And to plant camote in Minda nao is exactly a no brainer for Sen. Migz Zubiri and the rest of all Mindanaoans like you and me. (ruffy44_ph2000@yahoo. com)

Farmers...

from page 4 countries. Perhaps, we must ask, why rice or corn are produced cheaply in other countries in Asia and the Pacific? Well, don’t you know that when the Asean Free Trade Agreement (AFTA) was signed in 1997 in Cebu City that would allow the entry of products from other countries, what the King of Thailand did was to takeoff his robe and crown and worked with the Thai farmers. The King’s order not to use chemicals as such kills the integrity of the soil; he further instructed the famers not to use tractors as the emissions contribute to climate change. Use carabaos, he said, because the wastes of the carabaos will fertilizer the soil. So, they were able to lower down the production cost of rice to just P5 per kilogram. In the Philippines, our farmers have been tied-up to conventional agriculture with so much requirement to use chemical fertilizers, herbicides and pesticides, thus, our famers are producing rice at P13 per kilogram. So with that set-up, how can our rice compete? Such is also true to corn production. Because of this, the poorest of the poor now are the farmers.

This time, the cooperatives are now serving notice to one and all to strengthen local economies. Let it be known as stated by the world-renowned environmentalist and physicist, Dr. Vandana Shiva, a friend, that “localization of economies is a social and ecological imperative. Only goods and services that cannot be produced locally should be produced nonlocally and traded long distance.” Indeed, cooperativism is based on vibrant local economies, which support national and global economies. Global economy must not destroy and crush local economies nor must it create disposable people as now being done to our rice and corn farmers.

In cooperativism, the concern for human and non-human species comes together in a coherent, nonconflicting whole that provides an alternative to the world-view of corporate globalization, which gives rights only to corporations and which sees human and other beings as exploitable raw material or disposable waste. We must now pulsate with the limitless potential of an unfolding universe. It is hope in a time of hopelessness. It brings forth peace in a time of wars without end and it encourages us to love life fiercely and passionately. That is the essence of cooperativism!

Braces...

from page 1 Sudaria said.

He said that the MINDEX transport cooperative is allocating 15 modernizationcompliant vehicles in each of the initial seven routes plying in urban and suburban centers in Cagayan De Oro City.

A top official of the Office of Transportation Cooperatives (OTC) also lauded the implementation of 100 percent “cashless transactions” by modernizationcompliant vehicles of two transport cooperatives.

Eugene M. Pabualan, the OTC Executive Director, said that the cashless transaction provides ease for both the drivers and commuters as part of the Public Utility Vehicle Modernization Program (PUVMP) to overhaul the uncomfortable system.

Pabualan cited the South Metro Transport Cooperative (SMTC) and Libra Jeepney Operator Transport Cooperative (LJOTC) in Manila for successfully enforcing the “No Card, No Ride” rule to passengers availing public transport rides.

The drivers of transport cooperative offer “green cards” to passengers, each card costing P 30.00 to P 40.00. The passenger could also buy and reload the green card in the cooperatives’ terminals, designated as drop off points.

Seized...

from page 1 office has already been alerted of the shipment by the Customs Intelligence and Investigation Service (CIIS), Andrade said.

Upon arrival at the MCT, the shipment was immediately issued with prelodgement control order, he added.

The BOC-10 then put out an alert order against the shipment for violation of National Tobacco Administration (NTA) memorandum circular no. 3 series of 2004 and NTA board resolution no. 079-2005 in relation to section 1113 (f) and section 1400 (misdeclaration) of Republic Act 10863 or the Customs Modernization and Tariff Act.

Oliver Valiente, the Customs’ CIIS field station chief, said the illegal shipment was alerted to them through “Project Crocodile.”

Project Crocodile is an information-sharing scheme between customs administration of member-countries notifying each other if there are movements of suspicious cigarette shipments.

The information provided to the CIIS was relayed through a global database operated jointly by countries involved in international anti-smuggling campaign.

In his statement, John Simon, BOC-10 district collector, has reiterated his support in the Bureau’s drive to combat smuggling in the country as he commended the vigilance and dedication to duty of the personnel instrumental in the said apprehension.

“The Port of Cagayan de Oro will remain steadfast in its mandate to protect the country’s borders by preventing the entry of smuggled goods,” Simon said.

Early this month, BOC10 led the destruction through shredding of 2,150 reams of cigarettes from China and other countries.

In a previous interview, Simon said the condemned items were apprehended when the consignees failed to pay duties and taxes in violation of RA 10836.

Seno...

from page 1 qualify as a chartered city.

Major infrastructure like wide diversion highways, bridges and other newlyopened roads have been completed while some construction are ongoing. Our internal revenue is expected to increase even as our beaches have been temporarily closed due to health protocols”, disclosed Mayor “Maxi”.

Although admitting that there is an ongoing legal feud among members of Opol’s Sangguniang Bayan, Mayor Seno is steadfast in his resolve to empower his constituents through landmark programs and projects.

Criminology...

from page 1 years, it has been the single lobbying advocate for criminologists in the country, mostly influencing government policy for the betterment of the profession, at par with other criminologists worldwide.

Although PCAP was conceptualized in 1988, the roots of Philippine criminology went three decades farther back.

In 1954, the Philippine College of Criminology was founded in Manila. It was the only one of its kind in the country.

By 1966, the government somehow took note of the profession. They approved and signes into law Republic Act 4864, otherwise known as the Police Act of 1966. One of the provisions of the enactment was for commissioners of the National Police Commission (Napolcom) to hold a criminology degree.

Less than ten years later in 1972, the government passed another law, this time institutionalizing criminology as a profession by creating the criminology licensure.

Yet it was not until 1988 that the first criminology examination was administered.

The first batch of criminologists were elated and the Professional Criminologists Association of the Philippines was born.

The aim of PCAP is to support and help the Professional Regulation Commission (PRC) in the implementation of its programs for the benefit of criminologists all over the country.

Its most remarkable achievement was only in 2018 with the passage of RA 11131, otherwise known as the Philippine Criminology Profession Act.

The battle for the bill’s passage began as early as 2012, when Cagayan de Oro College (Phinma) criminology dean Gerry Caño took over as president of PCAP.

Caño was able to convince then Sen. Antonio Trillanes III, Sen. Panfilo Lacson and Rep. Rufus Rodriguez to simultaneously file a bill in their respective chambers for the repeal of RA 6506, thereby modernizing criminology in the country.

Trillanes being a former soldier, Lacson being a former police officer and Rodriguez being a fellow Kagay-anon like Caño understood the relevance of the proposed measure.

Together, the three lobbied for the bill to move and breeze within the legislative bureaucracy all this time. Committee hearings were conducted and various stakeholders from both government and constituency were invited to help congressmen and senators polish the bill’s salient points.

PCAP was in the middle of all this, guiding legislators as the bill slowly inched its way into the Senate and House calendars until it reached the bicameral level.

Then on November 8, 2018, RA 11131 was finally signed.

Yet PCAP under Caño is not resting on its laurels. The fiesty young but experienced criminology academic said there are more things to be done as Philippine criminologists practice side by side with colleagues worldwide, dedicated to make the world one safer place day by day.

MISSING BONGGO Pls contact Ms Veni 09151961483

MINDANAO DAILY

TRUTH. JUSTICE. PROGRESS. FEATURE Editor: MARK FRANCISCO Wed-Thu, September 23-24, 2020 12 Bike-friendly parking at SM Supermalls

WITH more and more of us turning to biking as a mode of transportation during the Modified General Community Quarantine (MGCQ), SM Supermalls has created bike parking facilities across its malls.

With organized and secure parking zones designated solely for bicycles, SM hopes to make the riding experience safe and convenient for the growing number of bike commuters, especially in communities where SM malls are located. And the good news is that these spaces are currently free of charge.

For customers who prefer to protect their bikes from the elements, there are covered bike parking areas in SM Aura Premier, The Podium, S Maison, SM Marikina and SM CDO Downtown Premier.

For customers who enjoy the convenience of streetlevel parking, Mall of Asia, SM By the BAY, SM Megamall, SM BF Paranaque, and SM Olongapo Central are among the malls that offer bike parking areas near the mall’s entrance.

Customers have one less thing to worry about when it comes to bike parking safety with on-duty guards manning and securing bike parking areas at all SM malls. Other security measures such as at SM City North Edsa require customers to register in a logbook and submit ID in exchange for a bike parking pass as an added layer of security.

With SM’s bike-friendly facilities, customers can look forward to a safe, convenient, and enjoyable biking experience. Importantly, SM aims to support inclusive mobility especially during the MGCQ, and hopes to encourage more people to take up biking as a healthy and environmentfriendly alternative means of transportation beyond the pandemic, which is part of SM’s Green Movement campaign promoting clean, green, sustainable communities.

SM By the BAY’s conveniently located wave bicycle racks offer secure and efficient parking for cyclists.

Customers can enjoy a safe, easy, and convenient parking experience at SM Aura’s designated bike parking zone conveniently located near the mall’s entrance.