Money Lessons from Dr. Jose Rizal
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Mindanao Daily NORTHMIN
Your Mindanao-wide Newspaper
www.businessweekmindanao.com
Volume II, No. 318
C
Monday
P15.00
June 3, 2013
Public school teachers warn on collecting fees
AGAYAN de Oro City––The Department of Education in Northern Mindanao warned public school teachers of violating the department’s “no collection” policy during enrolment and in the succeeding next two month period at the start of class 2013-2014. Regional Director Allan Farnazo, of the Department of Education in Region 10, issued the warning after his office received complaints of some public school teachers collecting fees in cahoots with officers of the ParentsTeachers Association (PTA). The “no collection policy” remains in effect and any public school teacher collecting any amount during enrolment would face the consequence, Farnazo said. He said that his office received reports of some public school teachers requiring the school pupils
and students who failed to join the “Brigada Eskwela” to pay the amount of P 50.00 or P 100.00 before they would be enrolled. Farnazo said the “Brigada Eskwela” fee has not been allowed since joining the “Brigada” activity was voluntary on the part of the parents. He said that the PTA may impose a collection through voluntary contribution only after two months after the formal opening of classes after submitting a financial report the PTA called for the purpose. “Even if the two months required period shall have lapsed yet the PTA has not submitted authorized financial report, any collection – voluntary or not- is still not allowed,” Farnazo added. Public schools throughout the country would start Newspaper Publisher Dante Sudaria (left) and Misamis Oriental Governor Oscar Moreno, now Cagayan de Oro City their regular classes starting mayor-elect, show Business Daily and its sister publication Mindanao Daily during the just-held 65th anniversary of the Rotary International held at the VIP Hotel in Cagayan de Oro City. Photo by Rolando Sudaria June 3. CD
Lobregat cries ‘unfair’ on US travel advisory
ZAMBOANGA City––Mayor Celso Lobregat on Thursday described the latest United States government travel advisory against this city as “very unfortunate and unfair.” Lobregat issued the statement as he noted the travel advisory was issued Wednesday when US Ambassador Harry Thomas Jr. was here together with other US Embassy officials and “nothing untoward happened.” The US travel advisory said: OVERTIME WORK. Laborers work on the drainage of Iligan City’s still unfinished circumferential “The US Embassy wishes to alert road, more popularly called as C3, Saturday morning, 1 June 2013. MindaNews photo by Bobby Timonera US citizens that a credible threat of
Protection for 15 million informal workers mulled By CRIS DIAZ, Associate Editor
CAGAYAN de Oro City––Around 15 million vendors, drivers, barbers, tailors, fishermen, barbers, plumbers, tailors and construction workers nationwide stand to benefit from a social protection program designed by the Trade
Union Congress of the Philippines (TUCP), various executive departments and local government units. On Thursday, the TUCP, the Department of Labour and Employment (DOLE), the Union of Local Authorities of the mulled | page 11
a terrorist kidnapping-for-ransom (KFR) plot against foreigners has been identified in the Zamboanga area on the island of Mindanao. As a result, the Embassy advises all American citizens residing in or planning to travel to the Zamboanga area to reevaluate their personal safety situation and consider postponing travel to this area at this time.” Thomas led the launching Wednesday of three projects funded by the US government through the United States Agency
UNFAIR | page 11
Manufacturers in survival mode over strong peso MANY local manufacturers remained in the “survival mode” given the strengthening of the peso despite the slight rebound in Philippine exports in March. Oscar Barrera, who represents the Philippine Exporters Confederation Inc. (PHILEXPORT) in the Competitive Currency Forum (CCF), believes that local businesses sell more products even at low prices to compensate for reduced earnings. “When a businessman is experiencing lower profits, his survival instinct is to sell more, as
long as his revenue is greater than his cash costs of production or direct variable costs. And even if he is already losing cash, he will try to survive by borrowing until his bank finally forecloses on his properties. He will continue to pray and hope that things will turn around,” he explained. Barrera stressed that the appreciation of the peso against the United States dollar continued to hurt exporters even as the country’s exports revenues rose measly in March. peso | page 11
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