MAY 21,2012 BUSINESSWEEK MINDANAO

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BusinessWeek

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www.businessweekmindanao.com Issue No. 74, Volume III • May 21-24, 2012

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Market Indicators

AS OF 5:46 P.M., MAY. 11, 2012 (Friday)

FOREX

PHISIX

US$1 = P43.25

4,879.42 points

33 cents

;

137.60 points

;

Briefly MRDP extension

DAVAO City -- The National Economic and Development Authority’s (NEDA) Investment Coordination Committee has endorsed a two-year extension for the Mindanao Rural Development Program’s (MRDP) Phase 2, which was supposed to end this year. Arnel V. de Mesa, deputy program director, said NEDA’s approval was necessary for the World Bank, the program’s main funding source, to consider the extension. “The Philippine government only needs to comply with the protocols [of the bank],” De Mesa told reporters here Monday. Mr. de Mesa added the “good performance and substantial list of pipeline projects are among the factors in getting the nod” from NEDA.

LNG facility

THE ENERGY department is planning to recommend the construction of a liquefied natural gas (LNG) infrastructure in Mindanao, an official said on Friday. The department said initial recommendations from a World Bank study showed there is potential for the use of natural gas in Mindanao. “Based on the World Bank study, they’re looking at a floating storage and regasification unit with a component for a short pipeline that will run along certain industrial zones in Mindanao,” said Energy Undersecretary Jose M. Layug, Jr. “What we need to do now is study carefully the cost efficiency of the project because we want to make sure that as we propose developmental projects in Mindanao, it’s something the people of Mindanao can afford,” he added.

By CARMELITO Q. FRANCISCO, Correspondent

D

AVAO City – An industry leader has admitted that finding new markets for the Davao region’s banana industry in the near term would be difficult.

Stephen A. Antig, executive director of the Pilipino Banana Growers and Exporters Association (PBGEA), said the distance between unexplored markets and the Philippines is the problem. Last week, President Benigno S.C. Aquino III instructed Agriculture Secretary Proceso J. Alcala to explore new markets for the region’s banana growers after China imposed BIG LOSS. Banana growers fear the recent Chinese actions on blocking Filipino ex- new restrictions on the enported bananas from entry not only have far reaching effects on employment. FILE PHOTO try of Philippine bananas.

This came amid a territorial dispute over Scarborough Shoal. Even as over 150 container vans of bananas from Mindanao were blocked entry in Chinese ports for alleged phytosanitary issues, a new set of requirements that would mean additional cost to small growers has been imposed by the Chinese government effective June 1. PBGEA has been aggressively seeking new markets BANANA/PAGE 9

Kitaotao hydropower to ease Mindanao power shortage By RUBY LEONORA R. BALISTOY Correspondent

MALAYBALAY City -- Hedcor Bukidnon, Inc. and the municipality of Kitaotao is now working to develop a hydroelectric plant, which would help ease nagging problems on power shortage in Mindanao every summer season. Gregorio Jabonillo, Hedcor’s Vice President for Business Development, said this run-of-river hydroelectric project will harness the Sita and Simod rivers in Kitaotao town in Bukidnon,

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as a source of power with a combined installed capacity of 28.2 megawatts. “Data showed that the Kitaotao hydro power plant, if completed, will generate 160 million kilowatt hours annually, which could somehow help address problems on Mindanao’s power shortage,” he said. Meanwhile, in his message during the signing of the memorandum of agreement (MOA) of said project, Kitaotao Mayor Rodito Rafisura said that the power shortage will worsen if no power sources

are added soon. “Mindanao is very dependent on the power supply that comes from the Agus and Pulangi hydro electric plants in Lanao and Bukidnon respectively. Consequently, during long droughts or low rainfall, the production of these facilities is affected and Mindanao is always plunged into rotating brownouts. There is therefore a need to build more power plants,” he said. “It has been reported that some 52 percent of Mindanao’s total power HYDROPWER/PAGE 9

By BONG FABE, Correspondent

Global Mindanaw Polytechnic, Inc. (GMP) — in an effort to put flesh to its development programs for the grassroots of Mindanao. Formally launched last week on the 16th anniverNGO/PAGE 9

Partnership Development NGO opens Public-Private Dr. Cherry Mae Limbaco, DepEd Division SuperinMayor Juliette T. Uy and Ms. Ma. Teresa technical, vocational school tendent, Alegrio, Steag State Power Community Relations THE peace and development civil society group Balay Mindanaw Group of NGOs recently launched the newest and youngest member of BMG — the

Manager (left to right) share a light moment after pouring fresh cement into the time capsule during groundbreaking rites for the Tambobong-Balacanas National High School in Villanueva, Misamis Oriental over the weekend. The new school, initiated by Mayor Uy, has been recognized by the DepEd and is the recipient of a 4-classroom donation from Steag State Power Inc. Advertorial


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MAY 21,2012 BUSINESSWEEK MINDANAO by BusinessWeek Mindanao - Issuu