BusinessWeek M I N DA N A O CREDIBLE
Volume XIV, No. 127 AS OF 6:00 PM APR 4, 2023 (TUE)
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Briefly Fuel price increase FUEL prices went up this Holy Week starting yesterday (Tuesday) at 12:01 a.m. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, Shell and Unioil said they hiked gasoline prices by P1.40 per liter and diesel by P0.50 per liter. Caltex, Seaoil and Shell also raised kerosene prices by P0.20 per liter.
Heightened alert THE Philippine National Police (PNP) on Monday said all units have been placed on heightened alert as part of security preparations for the observance of Holy Week. The heightened alert status took effect 8 a.m. on Sunday and will be in place until 8 a.m. on April 11, PNP officer-in-charge Lt. Gen. Rhodel Sermonia said during Monday's command conference in Camp Crame. "The Holy Week is an annual religious event for Filipino Catholics to reflect, repent, and seek forgiveness for their sins. This period is also a time for serious atonement and religious gatherings, which can be exploited by various threat groups to launch attacks such as bombing, other forms of terrorist acts, and violent criminal acts targeting government forces," he said.
6% growth forecast THE Asian Development Bank (ADB) keeps its 6 percent g r ow t h o u t l o o k fo r t h e Philippine economy this year but sees a faster expansion of 6.2 percent for 2024, citing the expected slowdown of domestic inflation. In a briefing on Tuesday, ADB Philippines Country Director Kelly Bird said among the drivers for this year’s gross domestic product (GDP) include the recovery of tourism, employment and retail trade; continued rise of the manufacturing sector; and the government’s bid to further increase infrastructure investment. However, Bird said the risks remain due in part to the sharper-than-expected s l o w d ow n i n a d va n c e d economies, increased geopolitical tensions and the still elevated rate of price increases.
IN-DEPTH
Wed-Fri | April 5-7, 2023
P15.00
25-yrconcessionsought for Agus-Pulangi plants By MYRNA M. VELASCO Contributor
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tate-run Power Sector Assets and Liabilities Management Corporation (PSALM) is planning to pursue 25-year concession arrangement under the privatization plan of the 932-megawatt Agus-Pulangui hydropower facilities in the Mindanao grid. “We have a plan - the plan is for concession agreement,” PSALM President Edward Dennis A. Dela Serna told reporters, adding that the template they are eyeing is the 25-year deal that was first carried out for the country’s power transmission assets. One possibility being explored by the company is to have not just one, but at least two concessionaires because the Agus plants 1 and 2 are sited within the jurisdiction of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), hence, t hat portion of the facility may be awarded to a separate concessionaire. “It can be one PULANGI/PAGE 7 SCRAPING RUST. Workers scrape rusts from the bollard in Sasa Port in Davao City on Monday, April 3. MindaNews Photo
No shortage of power supply during summer: DLPC DAVAO City – The Aboitizowned Davao Light and Power Co., Inc. (DLPC) assured Monday that there is enough power supply within its franchise areas during the dry season. Rodger Velasco, president and chief operating officer of DLPC, said their franchise areas will not experience power shortages in the coming months. DLPC's franchise coverage includes Davao City, areas in Panabo City, and the municipalities of Carmen, Dujali, and Santo Tomas in Davao delCity Norte. DAVAO — Former “Davao will not experience Sarangani Governor Miguel any inDominguez the coming Reneshortages Alcantara months, especially during the has joined the 60-year-old summer months. Meaning, Alsons Development and we’re safe (from power Investment Corporation outages),” he said (Alsons Dev) asinitsa press new briefing here. director who will oversee L P C h astrategy s e n o uand gh theDbusiness supply contracts to serve operations of the premier its customers in the summer property developer and real months due to their bilateral estate pioneer in Davao City. contracts load, Alsonswith Dev isthe thebase real estate Velasco said
He noted t hat t he Wholesale Electricity Spot Market (WESM) in Mindanao is made available when they fall short of supply from their sources. As for the power supply in Mindanao, Velasco bared that about 3,000 megawatts (MW) are currently available, with total consumption of only 2,000 MW. “It’s giving us at least 1,000 excess capacity, so the whole of Mindanao is also safe in supply,” he said, adding that it has pulled down the buying price of electricity. Still, Velasco made it clear that emergency interruptions may still occur, often caused by foreign objects perching their lines or damaged posts beyond the company's control. Earlier, Velasco announced that DLPC has brought down electricity rates by 38 centavos per kilowatt-hour in March due to the abundant power supply in Mindanao island and of the WESM. (PNA)
SoKot program to aid Davao durian farmers DURIAN farmers in Davao City has got the necessary help from a program funded by the Korea International Cooperation Agency (KOICA). The program intends
to assist durian farmers in increasing harvests and ensuring their sustainability, while provide value chain training in preparation for eventual exports to South Korea.
Cho Buyoung, country director of the nongovernment organization Center for Asian Mission for the Poor, said the project is part of the South Korean SOKOT/PAGE 7
BACKYARD VANILLA. A portion of the backyard farm of Melvin Awid, where he propagates vanilla. Photo courtesy of Juanito Awid
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