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Tourism boost seen for Dinagat new sea route with Siargao
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By Erwin M. Mascariñas
UTUAN CITY—Dinagat Island Governor Nilo Demerey Jr. hopes to anchor the island province to the popularity of Siargao and gain a much-needed tourism boost as a new shorter route connecting the two islands launched earlier this week.
The new route that was launched on Monday, April 22, connects Dinagat Island town of Cagdianao to the ecotourism destination of Del Carmen on Siargao Island. It marks the first regular ferry service that will cater to 120 passengers and will only take one to two hours of travel. Demerey pointed out that the new sea route is an initiative meant to boost local tourism in the island province of Dinagat by anchoring to the established tourism hub of Siargao, adopting the tagline “Complete your adventure, visit Dinagat Island”— not to compete with Siargao but to link Dinagat to the broader island adventure experience that
LIMESTONE islands make up most of the scenic getways found in the town of Libjo in Dinagat Island province. ERWIN M. MASCARIÑAS
Siargao offers. “We copied what Siargao has done so that Dinagat can also become a part of Siargao, that’s why it is ‘Complete your adventure,’ not to compete with Siargao, because we know that tourism in Siargao is really good: they have a nice airport, clear plans, and beautiful surfing spot, making them the surfing capital,” he said. Anchoring Dinagat Island efforts is the town of Del Carmen, one of the top tourist destinations in Siargao, the second largest commercial port on the island, and one of the busiest domestic airports in Northeastern Mindanao. Continued on A2
6.2% Q1 GROWTH SEEN ON JOBS, FACTORY DATA
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By Cai U. Ordinario
HE Philippine economy may have posted a growth of 6.2 percent in the first quarter of this year on the back of better jobs generation and higher manufacturing output, according to a local think tank. In its latest Market Call report, First Metro Investment Corp.-University of Asia & the Pacific (FMICUA&P) Capital Market Research revised its earlier forecast of 6.1 percent due to better employment and factory output data. The think tank also said much optimism comes from the increase in loans at 13 percent by BDO Uni-
bank and 11.9 percent by the Bank of the Philippine Islands, among the largest banks in the country. “[Our growth forecast is] founded on high, including three, record levels of employment, the manufacturing sector showing signs of new life with output accelerating each month since November 2023 to February 2024, and
WAREHOUSES and factories in Meycauayan, Bulacan. MICHAEL EDWARDS | DREAMSTIME.COM
increased national government and Public Private Partnership (PPP) spending on infrastructure, as the former would use less funds for interest payments,” FMIC-UA&P Capital Market Research said. While inflation remains high and will reach 4.2 percent in the second quarter, the local think tank believes the increase in commodity prices will revert back to the Bangko Sentral ng Pilipinas (BSP) inflation target of 2 to 4 percent by the third quarter this year. “Inflation will likely rise to average 4.2 percent in Q2 from 3.3 percent in Q1 due to elevated prices of crude oil and rice, tempered by softer prices of other food products, and base effects [relatively low in Q22023]. But we expect a return to under 4 percent year-on-year by Q3, and end the year at an average 3.8 percent uptick,” the think tank said. Nonetheless, there are a num-
ber of downsides to the country’s economic performance. FMICUA&P Capital Market Research said the Philippines may continue to post trade deficits on the back of more expensive imports for infrastructure, oil and rice. The country’s trade deficit, the local think tank said, could reach $55 billion this year. The country’s trade deficit, according to data from the Philippine Statistics Authority, reached $52.59 billion in 2023. However, the think tank also expects a 5- to 10-percent growth in exports for 2024 on the back of the recovery of the global economy. “The faster implementation of infrastructure projects [e.g., Metro Manila Subway, the North-South Commuter Rail (NSCR], including big-ticket PPPs such as the LRT-1 extension and MRT-7, plus rice importations, will require large forContinued on A2
NGCP places Visayas grid on red alert; Luz-Min at yellow By Lenie Lectura
HIJODEPONGGOL | DREAMSTIME.COM
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HE National Grid Corporation of the Philippines (NGCP) placed the Visayas grid on red alert on Friday afternoon and issued yellow alert for Luzon and Mindanao grids. From 3 pm to 4 pm, the power supply in the Visayas grid was insufficient to meet consumer demand and the transmission grid’s regulating requirement. As such, the red alert was hoisted over the grid. At 4 pm-7 pm and 8 pm-9 pm, the alert for the Visayas grid was downgraded to yellow. The yellow alert in Luzon, meanwhile, took effect at 1 pm until 5 pm and from 7 pm to 10 pm. The yellow alert in Mindanao lasted for two hours starting 1 pm. A yellow alert is issued when the operating margin is insufficient to meet the transmission grid’s contingency requirement. NGCP said the declaration of yellow alert was due to a forecasted increase in demand. Manual load dropping or rotational
power interruptions may be implemented to protect the integrity of the power system. The Department of Energy (DOE) is expecting more yellow alerts and possibly red alerts in the next few weeks until middle of May. Meanwhile, the NGCP conducted this month its annual blackout drills to further sharpen its plans and improve grid reliability and security in preparation for contingencies, including massive power outages or disturbances. The annual NGCP-led blackout drills, conducted separately for the Luzon, Visayas and Mindanao grids in compliance with the Philippine Grid Code, also aim to align the responses of energy sector players in the event of extensive power interruption. Similar to the previous years, the drill, which carried the theme “Fortifying Communication and Coordination in Black Start and Restoration Strategies,” included both tabletop discussions and practical simulation exercises.
“This annual Blackout Drill is crucial for all our stakeholders as it shows preparedness, response efficiency, strong coordination, and public awareness. By fostering shared understanding about the importance of each stakeholder’s role and responsibilities within the system, we can ensure the timely dissemination of critical information to the public, and the continuity of essential services during power grid disturbances,” the NGCP said in a statement. Among those tackled during the table-top presentations were black start services, actual restoration experiences, blackout restoration guidelines and procedures, breakout sessions, and workshops focusing on area-specific blackout restoration highways. Following the tabletop presentations, a simulation drill is held a week after to replicate an actual blackout scenario. The activity was attended by stakeholders from the generation sector and distribution sector, as well as representatives from the Department of Energy and the Energy Regulatory Commission.
PESO EXCHANGE RATES n US 57.8690 n JAPAN 0.3720 n UK 72.4346 n HK 7.3925 n CHINA 7.9934 n SINGAPORE 42.5758 n AUSTRALIA 37.7248 n EU 62.0992 n KOREA 0.0422 n SAUDI ARABIA 15.4297 Source: BSP (April 26, 2024)