BusinessWeek
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com Issue No. 50, Volume III • February 20-23, 2012
Market Indicators AS OF 5:46 P.M., FEB. 17, 2012 (Friday)
FOREX
PHISIX
US$1 = P42.61
4,880.71 points
; ; Briefly 22 cents
114.14 points
Farming confab
ZAMBOANGA City -- The municipality of Dumingag, Zamboanga del Sur plays host to the 1st Mindanao Sustainable Organic Agriculture Congress and Agro-Eco Tourism Fair slated February 19-22, 2012. The four-day event features experiential-based demonstrations on bio-fertilizer and home-made pesticides preparation, ADLAI cultivation, modified system rice intensification, among other organic farming technologies. Agriculture Secretary Proceso J. Alcala keynoted the opening day of the occasion.
Power barges bid
ELEVEN investors have recently signified their intent to participate in the privatization of the diesel-fired Power Barge 101, 102, 103 and 104, the government-run Power Sector Assets and Liabilities Management Corp. (PSALM) said on Thursday. Emmanuel Ledesma Jr., PSALM president and chief executive, said that 11 prospective bidders comprising both local and foreign companies submitted preliminary bidding requirements to acquire the power barges. Ledesma said PSALM’s preliminary requirements consist of the submission of a Letter of Interest not later than February 14, 2012, and the submission of a duly executed undertaking and Confidentiality Agreement and the payment of a nonrefundable participation fee of $3,000 not later than February 15, 2012.
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P43-b eyed for rehab of Sendong-hit areas By MIKE BAÑOS, Correspondent
T
HE Executive Committee of the Regional Development Council for Region X (RDC-X) has endorsed a P43.017 billion budget for the Strategic Action Plan for the rehabilitation and recovery of areas affected by tropical storm Sendong for approval by the full RDC-X council.
The Execom passed two resolutions endorsing the SAP for approval by the RDC-X Full Council and priority programs and projects for the rehabilitation and recovery of areas affected by typhoon Sendong for funding by the Office of the President (OP). Engr. Leon M. Dacanay Jr., RDC-X vice chairman and NEDA-X regional director said P20 billion of which will be implemented within 2012 with 53% sourced from Official Development Assistance (ODA) and funding donors, 30% by the Office of the President, 16% by regional line agencies and one percent by local government units (LGUs). The bulk of the P12.794 billion coming from the OP will go to Cagayan de Oro (48%) and Iligan (43%), Dacanay said. “This amount is already on the ground in various stages of implementation,” he added. The social development sector particularly the development of permanent relocation sites and housing constitutes the bulk of the total budget at P8.6-billion (67%) with P3.14 billion (24.5%) going to infrastructure. “Republic Act No. 10121 (The Philippine Disaster Risk Reduction Management (DRRM) Act mandates NEDA as Vice Chair for Disaster Rehabilitation and Recovery REHAB/PAGE 9
GROUND ZERO. Monsignor Elmer Abacahin officiating a Eucharistic Celebration at Sitio CalaCala in Barangay Macasandig on the second monthsary of Sendong. Cala-Cala is considered Sendong’s “ground zero.” PHOTO BY BONG D . FABE
‘Ground Zero’ residents urged to help protect environment By BONG FABE, Correspondent
A CATHOLIC PRIEST has urged residents of Sitio Cala-Cala, Barangay Macasandig to help efforts at protecting the environment during a Eucharistic celebration at “ground zero” on the second anniversary of deadly Sendong. Celebrating the mass Thursday last week at what remains
of the 2-storey house of the Capunay-Shotton family in the middle of Cala-Cala just adjacent to the Divine Mercy Chapel which was his gift to the residents there, Monsignor Elmer Abacahin reminded everyone that Sendong was not God’s punishment but a wakeup call for everyone to protect the environment. “I urged everyone to do
Napocor set to finalize Pulangui IV rehab plan By ALLAN MEDIANTE, Executive Editor
STATE-owned National Power Corp. (Napocor) is finalizing the rehabilitation plan for the Pulangui IV hydropower system in Lanao del Norte in a bid to bolster the plant’s generating capacity in time NAPOCOR/PAGE 11
what you can to also protect the environment. There are things that God allows to happen to us. But not everything negative that happen to us is God’s will. Most bad things that happen is man-made. That is why we need to do our part in protecting the environment,” he said in the vernacular after the Mass. Cala-Cala is considered as RESIDENTS/PAGE 11
Urgency for M’danao waters program cited ILIGAN City -- With the threats of flooding and related environmental incidents due to the changing climate, Mindanao leaders agreed to have an integrated watershed and river basin programs In a recent meeting here of the Mindanao Development Authority (MinDA) Board, consisting of all Regional Development Council (RDC) chairs, LGU officials , and Congress and sectoral organizations WATERS/PAGE 9