BusinessDaily J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY
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Volume III, No. 250
Market Indicators
As of 6:09 pm july 4, 2013 (Thursday)
FOREX
PHISIX
US$1 = P43.43
6,464.26 points
5 cents
X
15.86 points
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Briefly Study loan THE poorest, the best, and brightest students can now apply and study abroad through the Development Bank of the Philippines (DBP) Higher Education Loan Program for Students (HELPS). Emily C. Gilbuena, DBP project manager for the HELPS program, disclosed in a press briefing that P2-billion fund allocation for the project will be accessible by wholesale lending to qualified educational institutions. The loan, she said, will be granted to schools with ready linkages to employers abroad. To date, only the Skills Master y Institute (SMI) is qualified for the program. It had retailed the funds to student borrowers, after having successfully connected with the Australian market.
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Cagayan de Oro City
Friday
July 5, 2013
P15.00
COA: Dongkoy misspent P11-M of P-Noy’s PDAF
T
By REMEE MONIQUE O. ESPIRITU, Reporter with Wire reports
HE Commission on Audit (COA) on Wednesday reported that former Cagayan de Oro City Mayor Vicente Emano had mis-appropriated P11.5 million coming from President Benigno Aquino III’s himself.
In its 2012 audit report released only this week, COA noted that the amount was spent on the construction of Indahag Water System Phase 2. It was taken from t he a mou nt covered by
Special Allotment Release Order No. G-11-02105 dated December 19, 2011, although it was not in the list of relief and rehabilitation projects approved by the budget department.
Government auditors said the President’s Priority Development Assistance Funds (PDAF) was earmarked for the “repair, rehabilitation and reconstruction of school buildings, irrigation systems, flood control and roads and bridges in areas affected by calamities.” While deviation from the list is allowed, a prior approval of the Office of the President is required by the rules. “As noted, construction misspent/PAGE 11
Emano: In hot water
CdO, provincial poverty survey starts Monday
New house rules THE new set of city council members here has agreed to hold its weekly regular session every Monday at 2:30 p.m. at the City Council Session Hall here as part of the council’s house rules. The City Council underlined the agreement in a resolution passed during the inaugural session of the new members of the city council on Monday. Resolution No. 11426-2013 also prescribed the Rules and Procedure that will govern the conduct of business of the 16th City Council. The resolution provides that the Sanggunian sessions or meetings of any committee shall be opened to the public unless the members of the city council decide by an affirmative vote for security, decency or morality, or for other reason affecting the dignity of the Sanggunian where confidential matters are being considered based on the House Rules.
IN-DEPTH
By CHENG ORDONEZ of BusinessWeek Mindanao
THE National Statistics Office (NSO) will conduct its Annual Poverty Indicator Survey in this city and the province of Misamis Oriental on Monday, July 8, until the end of the month. “This survey aims at providing inputs to the development of an integrated poverty indicator and monitoring system,” said Janith C. Aves, officer-in-charge of the NSO regional office. survey/PAGE 11 HAPSAY DALAN. A man removes his stall off the city sidewalk following the implementation of operation Hapsay Dalan of newly-assumed Cagayan de Oro City Mayor Oscar Moreno. photo by arjay felicilda
Bambi forms disaster council, vows to fix capitol’s finances
Fate of 4 Bukidnon execs in hospital fund mess rests on new governor By WALTER I. BALANE, MindaNews
MALAYBALAY City – Final action on the recommended dismissal of a provincial government official and three hospital administrators who were implicated in alleged By ROLANDO SUDARIA, Reporter anomalies last year involving hospital funds is now in TO institutionalize policies, the province, the provincial “It is a must to reorient the hands of Gov. Jose Ma. R. Zubiri Jr., former governor structures and coordination government has reorganized our disaster risk reduction Alex P. Calingasan said on Monday. mechanisms for all disaster its Provincial Disaster Risk and management council as it The four, who were earlier meted a 2-month preventive risk reduction and mitigation Reduction and Management is the primary responsibility suspension are Marie Carmen Unabia, provincial economic efforts and initiatives of Council (PDRRMC). council/PAGE 11 fund/PAGE 11
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