february 27,2012 BUSINESS WEEK MINDANAO

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BusinessWeek

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com Issue No. 52, Volume III • Feb. 27-Mar. 1, 2012

Market Indicators AS OF 5:32 P.M., FEB. 24, 2012 (Friday)

;

6 cents

PHISIX 4,893.00 points

0.48 points

;

FOREX US$1 = P42.84

Briefly Muscovado project

THE municipal government of Quezon in Bukidnon is set to implement P550,000 worth of muscovado production project intended for the Quezon Manobo Tribe Association (Quemtras). The project is in cooperation with the Department of Labor and Employment (DOLE) in Northern Mindanao through its technical support services division, and the municipal government of Quezon. The municipal government of Quezon consisted of Public Employment Service Office (PESO) and members of Bids and Awards Committee and Project Management Committee.

Greening program

DIGOS City -- The sustainability of a greening initiative gears towards creating forests in the province requires political will from the key implementers, Governor Douglas Cagas stated. Cagas emphasized the need to establish leadership in carrying out the “Run 2 Plant 4 Greenin Philippines” that is envisioned to go beyond the traditional tree planting, and to ultimately develop real forests for the future generations of Davao del Sur. The governor said this environment endeavor would succeed and continue with the assurance and commitment from the municipal and city mayors, and the other key players such as the civil society organizations and the academe.

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Power shortage grips M’ danao island anew

• Davao and Cagayan de Oro cities spared due to sufficient power sources By NELSON V. CONSTANTINO, Editor-in-Chief and CARMELITO Q. FRANCISCO, Correspondent with Wire Reports

P USAID pushes for more citizen-led budget tracking

OWER shortage continued to stall businesses in several provinces in Mindanao as the National Grid Corporation of the Philippines (NGCP) started imposing load curtailment in 33 electric cooperatives as power supply has fallen due to alleged generation deficiency.

NGCP, the private sector operator of the state-owned transmission grid, is projecting an average shortage of 179 megawatts (MW) for the island next month to as high as 345 MW in April. “The curtailment is Mindanao-wide. I don’t know how many cooperatives there are but everyone is affected. (Power) reserves are in the negative. We’ve been on Red Alert for several weeks now,” said NGCP

spokesperson Cynthia Perez Alabanza. Severely affected are the provinces of Maguindanao, North Cotabato, South Cotabato, and most parts of Sarangani, which are now suffering power outages lasting one to six hours. Also affected by the load curtailment are General Santos, Cotabato, Iligan, Surigao, Kidapawan, and Zamboang POWER/PAGE 9

By BONG FABE, Correspondent

DAVAO City -- The United States Agency for International Development (USAID) pushed Thursday for more citizen participation in the budget process in the Philippines as the Aquino govrnment moves towards the institutionalization of transparency and accountability in fiscal management. “Local governments have the duty to inform citizens on how public funds are raised, allocated and spent. When citizens are engaged in decisions over the budget, there is greater likelihood that governance and development goals will be achieved, and USAID has tested this theory worldwide,” said Catherine Hamlin, USAID democracy and governance officer. Hamlin told participants in the Budget Tracking for Transparent Accountable Governance (BTTAG) 2nd Policy Dialogue and Mindanao Launching of the Seal of Good Housekeeping--Grade 2 that “citizen-led budget tracking is a popular BUDGET/PAGE 10

TIGER CUBS. Two tiger cubs are fed by their caretakers Stephen Penalosa and Carmencita Cabilogan the Mantianak Zoo in Sugbongcogon, Misamis Oriental. The youngest of the cubs was born last January 21 and the second on February 14. This is the first recorded birth of tiger cubs in the zoo. PHOTO BY GERRY L . GORIT

Gold remains Davao’s top export commodity DAVAO City -- Gold is now on the fifth spot as a major export commodity in Davao region as it gained three percent growth from negative 8.7 in 2008. Data from the Mines and Geo-science Bureau XI also showed that Region XI produced 836,450 kilos of gold in 2011 with an equivalent value of P1.8 billion. This production was reported by

large-scale mining companies such as Apex Mining Co. and JB Management. MGB XI regional director Edilberto L. Arreza

said during the Kapihan sa PIA Davao recently that he expects more than this volume from small-scale mining companies as the Bangko Sentral said only 20 percent of the mineral production came from large scale mining. Compostela Valley Board Member Augusto Blanco Jr. admitted so much economic GOLD/PAGE 9


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february 27,2012 BUSINESS WEEK MINDANAO by BusinessWeek Mindanao - Issuu