Wednesday, July 19, 2017

Surigao Norte mentees complete accounting, financial management seminar

By Cresol Mantong

SURIGAO CITY, Surigao del Norte, July 19 (PIA) – Around 20 mentees of the Department of Trade and Industry (DTI) Surigao del Norte recently completed the one-day Accounting and Financial Management Seminar held at Hotel Tavern, this city.

The one-day activity is 8th of the 10th modules, free seminar offered under the Kapatid Mentor Me Program of the DTI and Go Negosyo in partnership with the Philippine Center for Entrepreneurship.

During the said seminar, the participants were taught on the principles of accounting and perform the actual exercise on accounting cycle that include identifying transactions, analyzing transaction, journalizing, transfer to ledger, preparing trial balance, adjusting entries, preparing worksheet, financial statement, closing entry, post-closing trial-balance, and interpreting basic financial ratios.

The participants were also reminded to learn accounting by heart, and perform recordkeeping as a practice to have an instrument that will help interpret business operations and status. (DTI-Surigao del Norte/PIA-Surigao del Norte)


AgNor bans trucks with unsecured loads in highways

By Aimee B. Sienes

BUTUAN CITY, July 19 - The provincial government of Agusan del Norte is now prohibiting loaded trailer trucks and hauler trucks or carriage which tailgate is not securely closed or which backload is not safely covered, from running along the provincial roads and national highways within the province.

This will be implemented through Provincial Ordinance No. 452-2017, which was recently approved by the Sangguniang Panlalawigan.

Provincial Board Member Salutario B. Cuasito, who authored the said ordinance, explained that “it is observed that some hauling trucks loaded with sand and gravel, rice hull and other loose materials are running without their backloads covered or their tailgates not tightly closed likely causing the sand and gravel, rice hull and other loose materials to spill or fall and hit the vehicles or persons trailing behind them or passed by them.”

Cuasito added that numerous accidents of falling stones, rocks and sands from hauling trucks have been observed as causing injury to persons or properties and potentially result in accidents.

Provincial legislators believed that being strict in the safety of closed and covered loaded trailer truck, hauler truck or carriage would evade accidents and protect other vehicles, properties and persons.

Under the said ordinance, violators will be punished. The owner or operator, driver of the owner or operator or the lessee of the truck who is caught or adjudged, after proper investigation, to have violated the ordinance on tailgate not tightly closed shall be solidarily held liable and fined as follows: 1st offense - P1,000; 2nd offense- P3,000 and 3rd and succeeding offenses - P5,000.

On the other hand, the owner or operator, driver of the owner or operator or the lessee of the truck who is caught or adjudged, after proper investigation, to have violated the ordinance on no or dilapidated cover shall be solidarily held liable and fined as follows: : 1st offense - P1,000; 2nd offense- P1,500 and 3rd and succeeding offenses – P3,000.

Penalty for bribery is also imposed to those who offer money or favor to the inspector or to any duly authorized person or to any person participating or aiding the inspection team at the checkpoint in consideration of freeing such violator and shall be fined an amount of P5,000, without prejudice to filing criminal charge against the violator under the Revised Penal Code.

The inspector or any duly authorized person, or any person participating or aiding the inspection team at the checkpoint who actually receive or verbally accepted or acceded to the offer for money or favor from the violator in consideration of freeing such violator shall be suspended or terminated from duty in accordance with the proper provisions of the administrative law and/or suffer appropriate criminal liabilities under the Revised Penal Code.

The Provincial Governor’s Office or the Task Force shall conduct an information drive in order to disseminate the provisions of the ordinance to all concerned. (LGU-Agusan del Norte/PIA-Agusan del Nore)


SSS to collect more than P13B under LRP

BUTUAN CITY, July 19 - The Social Security System (SSS) has collected more than P5.22 billion in overdue loan payments from member-borrowers who availed of the Loan Restructuring Program (LRP) in the last 12 months, and expects to collect nearly P9 billion more in the next five years.

SSS President and Chief Executive officer Emmanuel F. Dooc said the total condoned amount for more than 850,000 members who availed of the LRP reached P13.83 billion over the one-year period the program was offered.

“We are very much overwhelmed by the huge volume of applicants especially during the last few days before the deadline. We hope that members will be faithful in paying their restructured loan amortizations to avoid further penalties. We are expecting P8.6 billion in collection until the end of the five-year installment term,” Dooc said.

Due to the massive influx of LRP applications received, SSS hopes to implement the loan condonation program regularly with the approval of its proposed charter amendments.

One of the provisions of the proposed bill is to rationalize the power of the Social Security Commission, which includes making it an approving authority for loan condonation programs instead of the President of the Republic of the Philippines.

Launched last April 28, 2016, the LRP provided relief to delinquent borrowers by allowing them to settle their unpaid SSS loans in full within 30 days with no additional interest, or through flexible payment terms of up to five years at a low interest rate of three percent per annum.

“We would like to remind our LRP availees that loan penalties will be completely waived only after full payment of the principal amount and interest of the restructured loan. So they are advised to pay their financial obligations on time to prevent an additional penalty of 0.5 percent per month,” Dooc concluded.

As part of the program’s terms and conditions, members who availed of the LRP can no longer avail of future condonation programs. However, members can apply for another SSS loan six months after they have fully paid their financial obligation under the LRP.

Majority of the LRP applicants were employee-members who contributed P3.23 billion worth of collection. While voluntary members, who represented 27 percent of total availees, paid an initial P1.38 billion.

Self-employed members, who availed of the LRP reached over 39,000, with an equivalent collection of P194.37 million. More than 46,000 OFW-members also benefitted from the program with a total remittance of P412.76 million.

In terms of geographical location, the National Capital Region (NCR) received the largest volume of LRP applications with 372,469 followed by Luzon, Visayas and Mindanao, with 258,916 applications, 103,329 applications and 96,609 applications, respectively. SSS foreign offices processed 25,515 LRP applications.


SSS Diliman, Davao, Calamba, Bacoor, and Cebu received and processed the largest volume of LRP applications. While foreign offices in Dubai, Riyadh, Hongkong, Doha and Singapore facilitated the highest number of LRP applications overseas. (SSS/PIA-Caraga)