“Radiating positivity, creating connectivity” June 22 - 28, 2020 P15.00 CEBU Volume 2 Series 40 12 PAGES BUSINESS Room 310-A, 3rd floor WDC Bldg. Osmeña Blvd., Cebu City WEEK You may visit Cebu Business Week Facebook page. CEBU TRADERS BACKING MAYOR 8 business groups express support for mayor’s plea favoring GCQ EIGHT business groups in “We have arrived at the Cebu have expressed support new normal, and instead of to the Cebu City government’s being passed around back and calls to a downgrade of its forth like a ball on what quar- quarantine status. antine status to be in, it is time Various business organi- that we adapt and learn to live zations in Cebu issued a joint our lives throughout this pan- statement on June 19, stressing demic, instead of just wait- that the call to balance life and ing for the virus to dissipate. livelihood could no longer be Hence, the need to balance life put on hold. and livelihood,” they added. “We express our strong The business groups de- support to the appeal of Cebu cried the use of inaccurate data City Mayor Edgardo Labella and leaving out economic im- on the reclassification of Cebu pact in making policies and de- City from enhanced commu- cisions. nity quarantine (ECQ) to gen- “The move to revert Cebu eral community quarantine City back to ECQ based on (GCQ),” the statement read. SENATOR SHERWIN GATCHALIAN flawed data analysis and -with “While we very much un- out factoring in the economic derstand and agree that public aspect is unacceptable,” the health comes first during this Cebu business groups said. pandemic, we have come to a Foundation Inc. (CFIFI), Cebu call came four days after the reopened was only short-lived “Lastly, we call for soli- point where the need to bal- Business Club, and Cebu Leads national government put Cebu when the ECQ was re-imposed darity among our government ance health with the health of Foundation Inc. (CLF). City back to the strictest quar- on June 15. leaders, the business and pri- the economy can no longer be Signatories of the two-page antine status. Confidence in business vate sector, and the medical delayed,” it added. document were Felix Taguiam Prior to coming up with was dampened as several en- community and engage in Joining the calls were the (CCCI President), Ambassador their position statement, they terprises were forced to close more dialogues that will yield Cebu Chamber of Commerce Francisco Benedicto (CFCCC revealed that they held a dia- their doors again. the best approach to combat and Industry (CCCI), Cebu President), Gregg Victor Gabi- logue with the Cebu Medical “The ECQ status is a great COVID-19 as we move for- Filipino-Chinese Chamber of son (CIB.O President), Angela Society which earlier made its disadvantage to the business ward,” they stated. Commerce (CFCCC), Cebu – Figueroa – Paulin (CFIFI Pres- stance for the public not to take community and the working The Inter-Agency Task IT-BPM Organization (CIB.O), ident), Gordon Alan Joseph the pandemic lightly. sector, as it will create a more Force for the Management of Philippine Retailers Associa- (CBC President), Chester Lim Businesses in Cebu were exasperating disruption to our Emerging Infectious Diseases tion – Cebu Chapter (PRA – (PRA-Cebu President), Nelson disappointed that the improve- economy which might wreak (IATF-MEID) decided to put Cebu), Confederation of Phil- Joseph Bascones (PhilExport ment in the city’s economy havoc on people’s enterprises Cebu City back to ECQ due to ippine Exporters Foundation Cebu President), and Bunny when it shifted to a more re- and livelihood, and result in the high transmission rate of Inc. – Cebu (PhilExport Cebu), Pages (CLF Chairman). laxed GCQ last June 1, with up more suffering and hunger,”the coronavirus and increasing Cebu Furniture Industries The business community’s to 60 percent of establishments the Cebu business groups said. demand for critical care. 2 June 22 - 28, 2020 Cebu Business Week LOCAL DOE to financially aid hosts of power plants THE energy sector led Aboitiz Group in Barangay Visayas Electric Company ernment will get P3.3 million by the Department of Energy Colon; Toledo City with Cebu (VECO), Cebu Electric Coop- share which is being processed (DOE) had put up funds based Energy Development Corpo- erative (CEBECO) and Mactan by DOE. on Energy Regulation (ER) ration (CEDC), Therma Power Electric Company (MECO). The voucher in the amount 1-94 to help communities that Corporation and Global Power But when Covid-19 pan- of P7.5 million for Cebu City is hosted power plants in the Corporation in Barangay Bato; demic came, DOE Secretary due for release. But Barangay fight against Corona Virus- DisCebu City with Cebu Private Alfonso Cusi issued a depart- Ermita under Barangay Cap- ease (Covid-19). Power Corporation in Baran- ment circular rationalizing the tain Mark Miral is still to apply DOE Visayas Public In- gay Ermita; and Lapu-Lapu release of funds. So, all funds with DOE. formation Officer Lou ArciagaCity with East Asia Power Util- under ER 1-94 must be re- Barangay Colon of the City said the Energy Power Indus- ities in Barangay Ibo. leased directly to host LGUs of Naga will receive P22.7 mil- try Reform Act (EPIRA) man- Arciaga said ER 1-94 fund which they can spend for lion and under process. The dates that for every kilowatt has sharing scheme which is Covid-19 response. City of Naga LGU has P17.5 hour of electricity produced, 30 percent for host barangay, LOU ARCIAGA, Public But the percentage of the million share on process. there is one centavo for host another share for the host city Information Officer DOE shares which can be used for The records for Toledo City Visayas communities or host Local or municipality, and separate Covid-19 response is from the are still to be collated although Government Units (LGUs) shares for provincial govern- ment, livelihood, reforestation; electrification fund only. the LGUs have collected half of from power plants or power ment and regional agency. watershed management; and Barangay Ibo received their shares, Arciaga said. generating companies. Non-host LGUs can also avail, health program. P1.54 million last June 18 which The funds were remitted In Cebu, the LGUs which according to the law. In the past years, it was they can use for testing kits, to the DOE by the different hosted power generating The percentage of funds only for electrification purpos- PPEs, hazard pay to frontliners, power plants as of July 2019 plants are: City of Naga with for host LGUs (city and baran- es. Supposedly, power plants food distribution, and even es- and there are still funds to be KEPCO-SPC and Therma gay) are divided into three such will remit the funds to power tablishment of isolation centers. remitted from last year to the Power Corporation of the as for electrification; develop- distribution companies like The Lapu-Lapu City Gov- present. ELIAS O. BAQUERO SEC warns against Bitcoin Revolution Workers told: Submit DOLE THE Securities and Ex- tracts, because investors need change under The Securities certification application online; change Commission (SEC) not exert any effort other than Regulation Code. WORKERS who have or (5) Disease/Illness of the has issued another warning to invest or place money in In addition, Bitcoin Revo- been involuntarily separat- employee whose continued against Bitcoin Revolution, Bitcoin Revolution in order to lution still does not appear in ed from work may secure employment is prohibited by which presents itself as a cryp- derive income, according to the list of entities registered the DOLE’s Certification aslaw or is prejudicial to his or tocurrency trading program the SEC. with the Bangko Sentral ng proof of unemployment, a re- his co-employees’ health. purportedly endorsed by gov- As such, the investment Pilipinas in accordance with quirement by the SSS for the Requirements for appli- ernment officials, business- contracts must have been duly BSP Circular No. 944, Series availment of the grant of un- cation would include the fol- men and celebrities. registered with the Commis- of 2017, which provides for the employment insurance or in- lowing, namely: (1) photocopy In an advisory dated June sion while Bitcoin Revolution Guidelines for Virtual Curren- voluntary separation benefit. of one valid IDand (2) Copy of 16, the Commission urged the and its agents must have se- cy Exchanges. DOLE-7 Regional Direc- the Notice of Termination is- public to avoid or stop invest- cured the corresponding li- “The public must be mind- tor Salome O. Siaton noted of sued by the employer. In the ing in schemes offered by Bit- cense to offer securities for fulsale that cryptocurrencies are the surge of queries regarding absence of the Notice of Ter- coin Revolution or any other to the public, as required under very volatile and the process the availment of the of the mination, a duly notarized entities engaged in digital as- Republic Act No. 8799, or The of digital asset trading is high- SSS payment of unemploy- Affidavit of Termination of set trading and promising ri- Securities Regulation Code. ly speculative and involves a ment insurance or involun- Employment will do. diculous rates of return with Aside from the missing higher degree of risk and that tary separation benefit. Employees, who are in- little or no risk. registration and licenses, the the operations of such unregu- “We have received a lot voluntarily separated, may The SEC issued the warn- quick and unrealistically high lated entities engaged in digi- of queries coursed thru our file their application at the ing after finding that Bitcoin return promised by Bitcoin tal asset trading are complete- hotline and at our officialDOLE Field or Provincial Of- Revolution continues to solicit Revolution presents a red flagly unaccountable,” the SEC email.