5.31.2017

Tuesday, May 30, 2017

DTI-Caraga set to roll out ‘Pondo sa Pagbabago at Pag-asenso’

By Venus L. Garcia

BUTUAN CITY, May 30 (PIA) – In accordance with the directive of President Rodrigo Duterte to replace the “5-6” money lending system and eventually kill the "loan sharks" or lending agencies under a 5-6 scheme, the Department of Trade and Industry (DTI)-Caraga is prepared for this year’s roll out of the “Pondo sa Pagbabago at Pag-asenso (P3) Program on May 31 in Butuan City.

According to DTI-Caraga regional director Brielgo Pagaran, P3 is a funding program of the government designed to provide microenterprises an alternative source of financing tat is easy to access and made available at a reasonable cost.

“This program gives a boost to the development of the micro, small and medium enterprise (MSME) sector, particularly the microenterprises that comprise about 90% of registered enterprises in the country,” said Pagaran.

The government has allocated P1 billion for the program, a part of P19 billion financing initiative for micro and small businesses in the next five years. “With this program, it requires borrowers to submit fewer documentary requirements for easier access to financing,” Pagaran added.

Priority beneficiaries of P3 are the microenterprises and entrepreneurs that do not have easy access to credit, or are accessing credit at very high cost, market vendors, agri-businessmen, members of cooperative, industry association, and co-operators.

The loanable amount is P5,000 for start-ups to P300,000 with maximum interest rate of 26 percent per anum with no collateral requirements. This is lower than the 20 percent per day or weekly from 5-6 lenders or the so-called ‘Bumbay’.

The loan will be payable up to 90 days and it will depend upon the loanable amount and products.

The application for the P3 program is free and it is advised not to entertain individuals or groups who are recruiting and asking accreditation fees in exchange for the arrangement of immediate release of loans.

To know if one is transacting with accredited institutions, contact Small Business Corporation (SB Corp) in the area or the nearest Negosyo Center as there are scammers tricking businessmen around. (VLG/PIA-Caraga)


DTI declares automatic price control in Mindanao

BUTUAN CITY, May 30 (PIA) - Following the declaration of martial law by President Rodrigo Roa Duterte in Mindanao amid the ongoing clashes between government troops and Maute group in Marawi City, the Department of Trade and Industry (DTI) informs all consumers and retailers that pursuant to Section 6 of the Republic Act 7581 or the Price Act, prices of basic necessities in an area proclaimed or declared under martial law shall be automatically frozen at their prevailing prices or placed under automatic price control.

The regions in Mindanao where the automatic price control shall be implemented are Region IX - Zamboanga Peninsula; Region X - Northern Mindanao; Region XI -Southern Mindanao; Region XII  - South Cotabato, Cotabato, Sultan Kudarat, Sarangani and General Santos City (SOCCSKSARGEN); Region XIII – Caraga.

Unless sooner lifted by the President, price control shall be in effect for 60 days for basic necessities, and 15 days for household liquefied petroleum gas (LPG) and kerosene from the date of declaration.

Basic necessities refer to goods vital to the needs of consumers for their sustenance and existence such as, but not limited to, rice, corn, root crops, bread; fresh, dried or canned fish and other marine products; fresh pork, beef and poultry meat; fresh eggs; potable water in bottles and containers; fresh and processed milk; fresh vegetables and fruits; locally manufactured instant noodles; coffee; sugar; cooking oil; salt; laundry soap and detergents; firewood; charcoal; household liquefied petroleum gas (LPG) and kerosene; candles; drugs classified as essential by the Department of Health.

Business establishments found to have violated the automatic price control shall face the penalty ranging from P5000 to P1,000,000 and/or imprisonment of one year up to 10 years.

The DTI enjoins the retailers to comply with the automatic price control while consumers are advised to be guided accordingly.

The public is encouraged to make use of the DTI “e-Presyo” to check for the suggested retail prices (SRPs) and prevailing prices of all basic and prime goods being monitored by the DTI including those stores selling at the lowest prices.

The “e-Presyo” can be accessed through the DTI website, www.dti.gov.ph or downloaded from Play Store using any Android device.

For more information, or to report retailers selling goods above the SRPs, contact DTI Direct at 751.3330 or text 09178343330. (DTI/PIA-Caraga)


Energy department enforces price freeze on LPG, kerosene in Mindanao

BUTUAN CITY, May 30 (PIA) – The Department of Energy (DOE) is imposing an automatic price freeze on household liquefied petroleum gas (LPG) and kerosene products in Mindanao areas.

This is in view of the declaration of Martial Law as per Proclamation No. 206 dated May 23, 2017, placing the entire Mindanao under state of emergency, and pursuant to Section 6 of R.A. 10623 wherein such products are frozen at their prevailing prices for a period of 15 days from the date of the declaration.

Unless sooner lifted by President Rodrigo Duterte, price control of the said products shall remain effective for a period of not more than 15 days, taking into consideration the current inventory or supply levels.

DOE emphasized that all concerned persons/establishments engaged in the sale of household LPG and kerosene products are enjoined to comply with the automatic price freeze (APF) requirement.

Accordingly, all violators shall suffer the penalty of imprisonment for a period of one year to 10 years or a fine ranging from P5,000 to P1M or both at the discretion of then court aside from applicable administrative penalties as provided under the Price Act.


The consuming public is also encouraged to be vigilant regarding the implementation of APF and to report to DOE at telephone number (082) 221-0778 any violations committed by individuals/establishments on the same. (DOE/VLG/PIA-Caraga)