Maniolas

MANILA, Philippines – Meralco has announced that the residential rate for a typical household will go down this September by around P0.0451 per kilowatthour (kWh), thereby bringing it down to P8.46 per kWh. This translates to a reduction of around P9 in the electricity bill of a household with monthly consumption of 200 kWh. The reduction is due to the downward movement in the transmission charge, which more than offset a higher generation charge.  This month’s overall rate is lower by P0.09 per kWh compared to September 2015’s P8.55 per kWh. This month, there was also an increase in the generation charge, which is P0.0879 per kWh, higher than last month’s P3.85 per kWh.  At P3.94 per kWh, the generation charge is P0.19 per kWh lower compared to September 2015’s P4.13 per kWh. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The higher generation charge was more than offset by a decrease in the transmission charge of P0.10 per kWh, mainly due to the reduction in the ancillary charges of the National Grid Corporation of the Philippines (NGCP).   Taxes and other charges also decreased by a combined amount of around P0.04 per kWh. Meralco’s distribution, supply and metering charges, meanwhile, have remained unchanged for 14 months after they registered a reduction in July 2015. Meralco reiterated that it does not earn from the pass-through charges, such as the generation and transmission charges. Payment for the generation charge goes to the power suppliers, while payment for the transmission charge Read More …

THE COUNTRY’S oil import bill in the first half fell by almost 29% to $3.39 billion as the cost of shipping of crude and petroleum products dropped, allowing oil companies to take in bigger volumes.

MANILA, Philippines – The local corn industry has called on the Department of Agriculture (DA) to approve the permits for corn traits that are still awaiting renewal or face further plummeting of the country’s corn production next year. The Philippine Maize Federation Inc. (Philmaize) said farmers fear the country might experience more difficulty in corn production with some Bt corn hybrids still not available for planting this season. “Corn farmers expressed worries that corn yield will plummet come harvest season on the first quarter of 2017 as some hybrid seeds are not yet available,” Philmaize president Roger Navarro said. The group is urging the DA to immediately approve permits for farmers to avail of several corn varieties this planting season that are resistant to corn borers, cutworm and ear worm which are prevalent during the dry season. “We can achieve a more successful agriculture sector if farmers are given more room to decide on critical farming processes,” Navarro said. He added the best strategy to address the challenge in corn production is to provide farmers more corn seed types to choose from. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Farmers can assess for themselves which seeds will grow best in their farms. Thus, farmers should always be given the freedom to choose what they feel is best for them as certain corn traits are needed to ensure we have increased yields and increased income in the coming harvest year,” he added. Corn is a major component in animal Read More …

Philexport president Sergio Ortiz-Luis Jr. said most of the group’s members are linked within the tourism supply chain such as in food, furniture, logistics and giftwares, thus reforms in the tourism and hospitality sectors are also critical for local exporters. MANILA, Philippines – Local exporters are pushing for policy and economic reforms to boost the country’s tourism and hospitality sectors which they claim remain lagging behind in the region. Among the reforms being proposed by the Philippine Exporters Confederation Inc. (Philexport) include market access and connectivity improvement through upgrading of the international and domestic airports and seaports, as well as reduction of foreign carrier operations cost and elimination of the common carriers and tax on gross Philippine billings. Other reforms seen by the group as imperative for bolstering industry growth include improving sea and road transportation services on safety and reliability, as  well as development of competitive destinations, products and services. Philexport president Sergio Ortiz-Luis Jr. said most of the group’s members are linked within the tourism supply chain such as in food, furniture, logistics and giftwares, thus reforms in the tourism and hospitality sectors are also critical for local exporters. Ortiz-Luis stressed the vital contribution of the tourism sector to the country, with 34.8 percent of total employment or about five million Filipinos engaged in the food, beverage and accommodation sectors. He said the number is still outside the passenger transport sector which has recorded an even bigger employment share of 36 percent. Business ( Article MRec ), pagematch: Read More …

BAGUIO CITY, Philippines – Baguio Rep. Marques Go has filed a bill expanding the travel tax exemption to include students and the country’s representatives to beauty pageants, sports tournaments and academic conferences. “Filipino athletes, students and beauty pageant representatives bring pride to our country. Exemption from paying the travel tax is a small way of showing support to those who seek to bring home awards and recognition for the Philippines,” Go said in House Bill 3557. The neophyte congressman also asserted expanding the list of exemptions from the payment of the travel tax will not adversely affect the country’s travel tax collections which reached P3.852 billion in 2014. “As such, we have a big collection of travel tax for the past few years and these are divided between the TIEZA, National Parks Development Committee, the National Commission for Culture and the Arts and CHED. We can afford to expand the list of those exempted from paying travel tax, as long as they have certified documents to confirm their official participation in events abroad,” he added. The Philippines currently levies a travel tax of P2,700 for first class passengers, P1,620 for economy class passengers and reduced or privilege amounts depending on the classification. The current list of travel tax exemption includes 18 different classifications. HB 3557 seeks to add to the list four additional classifications for exemption. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “These amounts may be small for some but it is already a burden for those Read More …