28Th Issue Mar. 30

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28Th Issue Mar. 30 “Radiating positivity, creating connectivity” CEBU March 30 - April 5, 2020 P15.00 BUSINESSVolume 2 Series 28 12 PAGES Room 310-A, 3rd floor WDC Bldg. Osmeña Blvd., Cebu City WEEK You may visit Cebu Business Week Facebook page. Council okays P1B vs. COVID-19 Tell us how spent, who benefited: Rama The Cebu City Council fund shall be used without recession. The call of the has approved last week the their approval. times is survival,” Rama said. amount of over P1 billion for Rama said the World Responding on some the Local Government Unit Health Organization (WHO)critics that he is acting like the (LGU) to implement measures emphasized that in themayor, Rama said he is only in the fight against the Corona fight against the virus, itdoing is his job as chairman of Virus Disease (COVID-19). important for the LGU to the Committee on Health, Vice Mayor Michael have the capacity, resources, Sanitation, Hospital, and “Mike” Rama, head of the and resolve. Environment. Cebu City Council, said the Rama said that “Being the head of the executive department must supposedly, capacity refers to City Council is secondary. inform the legislative body the right person to the right I have an experience of 25 how the money was spent and position. Resources meant years in public service, and who were the beneficiaries. the money or fund to use. I’ve been the city mayor for The P1 billion new And resolve is leadership. two terms. There must be a appropriation for the people He said the five “Ps” parallel leadership. They lack is in addition to the previous released by WHO as concern on pro-activism,” allocation requested by the guide are: Public Health, Rama said. Executive Department to Prevention, Preparedness, He reminded City Hall VICE MAYOR Michael Rama with President Rodrigo Roa Duterte. implement measures to fight Political Leadership, and officials that with P1 billion COVID-19. observation that the Mayor’s Council, as a legislative body People. To prevent the virus budget to fight COVID-19, Earlier, Mayor Edgardo Information Liaison Office who approve funds can act from spreading, there is they need to exercise “caution Labella informed Cebu (MILO) is the waterloo of the as fiscalizer. That’s whyITTT which means Isolation, and prevention” and avoid Business Week that the City mayor, Rama said that is not the executive department Testing, Treatment and becoming a lion thinking Council has approved an initial advisable as we need unity. is obliged to report to Tracing. they are the greatest. P15 million and they still have But when asked if there is the local lawmakers how He favored the idea of “If you feel like a king a standby fund of P300 million still unity at Cebu City Hall, he the taxpayers’ money has President Rodrigo Duterte to of the jungle, you will self- from calamity fund. said unity can be attained “with been spent and who the declare Martial Law to deal destruct. If a leader will work On the other hand, Rama diversity or agree to disagree.” beneficiaries were. with COVID-19. as soloist, he is bound to fail,” said City Councilor Edu “The call of the times Rama said he is not only He said that if there Rama said. Rama is coordinating with now is unity, because we a presiding officer but a vice is a lockdown, there is a Handling the fight the executive department in have a common goal to mayorfight who is elected by the government formula to help against COVID-19 should not implementing measures using COVID-19. The City Council people and chairman of the the people in sustaining their be centralized by the national the P1 billion funds. Edu was has approved a budget of more Committee on Health. economy to prevent hunger. government but devolve involved in garbage disposal than P1 billion to help the In the first place, Rama He said it is believed that to the LGUs especially the and social services during his people especially those who said, the City Council must the economy of the world has barangays which are directly (Rama) time as mayor. lost their income,” Rama said. know firsthand how thebeen affected by COVID-19. dealing with the masses. When told about an Rama said the City money was spent because no “We are on world economic ELIAS O. BAQUERO 2 March 30 - April 5, 2020 Cebu Business Week LOCAL Rentals of buses, jeepneys reduced The Cebu Provincial Flores said they (drivers number of buses are plying Operators Transport Coop- and conductors) can remit on various routes due to lack erative (CPTC) has reduced only P800 to P1,500 a day of passengers. rentals of passenger buses during Tuesday, Thursday He said about two of his and passenger jeepneys by and Fridays. drivers were apprehended 30 percent due to the lack of He said a bus has a seating by the Land Transportation passengers. capacity of 50 passengers, Office (LTO) 7 for violation CPTC Founding Chair- one-half of the income is lost of social distancing which is man Julito Flores, who because it is only allowed to one seat apart. is also the vice mayor of carry 25 passengers. Flores said, drivers Barili, said that during “If the driver and cannot stop passengers from normal times, drivers and conductor remit P1,000, the forcibly riding their units conductors always had gross operator may only accept especially if there are no income of more than P5,000 P700 share and the P300 other public utility vehicles a day. The bus rental was will go to them. The operator running around. P3,500 and they (drivers and always get 70 percent of the Flores believed that conductors) have more than income considering that they the COVID-19 issue will P1,500 share. owned the units,” Flores said. be solved with the good But when COVID-19 came, Flores said CPTSC measures against it by most drivers and conductors has members of about 60 government officials and can only remit P2,000 a day operators of 120 buses and the transportation business during peak days (Saturday, 70 jeepneys, but because of will bounce back. ELIAS O. Sunday and Monday). COVID 19 about half of the BAQUERO JULITO FLORES SEC to allow online meeting DOLE to only accept versus spread of COVID-19 documents online The Securities and (MDF) of the Non-Stock such as Tricycle Drivers’ Starting this week, the Province of Negros Oriental- Exchange Commission Non-Profit Corporations Associations, foundations, Department of Labor and [email protected]; (SEC) has allowed the because of COVID-19 issue. educational institutions, Employment (DOLE) only Companies in Siquijor- stockholders’ meeting on- This means that the and irrigators’ association, accepts documents from [email protected]; line to prevent the spread deadline last March 31, 2020 among others. The main clients online. and of the Corona Virus Disease of the submission of hard intentions are camaderie According to DOLE-7 Companies located in (COVID-19). copies is being extended for and promote honesty Regional Director Salome Bohol- doleboholcamp@ Atty. Giness Teves of an indefinite date. among members. O. Siaton, this supports gmail.com. SEC-Cebu Extension Office Teves said the online Teves said SEC the government’s call for “As much as possible, we said they issued guidelines submission is not extended as requires both stock and everyone to observe social will do what we can as a show on online meetings of it can be made at home. The non-stock corporations to distancing, the term recently of support to the government company Board of Directors server of SEC is operational submit Audited Financial coined by the World Health and to all the frontliners in and stockholders as a way from 8:00 a.m. to 5:00 p.m., Statement (AFS), General Organization (WHO) that this fight. Physical distancing of social distancing. Monday to Friday. Information Sheet (GIS) will help prevent the spread must be observed. If there “They can participate “They can submit MDF and lately the MDF. of COVID-19. is a way for our clients in meetings through online, but the hard copies She said that for Stock From now on up until not to personally come to video conferencing and can be submitted once the Corporation, the AFS shall everything is back to normal, DOLE anymore, the better. telephone. The corporate COVID-19 issue will be be submitted annually. clients are urged to avoid That is to protect them as secretary must make sure gone,” Teves said. The GIS must contain the submitting documents to well as our personnel. At that everybody in the Teves said they are names of stockholders, the Department personally. these extraordinary times, company can participate, strict in the submission and officers and members. The For concerns not related to it is imperative that we and they must affix their evaluation of MDF because GIS shall be submitted not the COVID-19 Adjustment religiously abide by rules signatures to the minutes of of reports that some non- later than 30 days after an Measures Program (CAMP), and regulations set by the meetings,” Teves said. stock corporations are annual meeting, or 30 days they could be emailed to dole_ government,” said Director She said small being used by financiers of after a special meeting with [email protected]. Siaton. companies may hold international terrorists and organizational changes or For documents or She disclosed that for the meetings in a room but money launderers. additional members. applications related to avail delivery of public assistance, they must be distancing “We want to curb money For Non-stock of CAMP, clients are advised apart from the hotline themselves.
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