“Radiating positivity, creating connectivity” CEBU February 4 - February 10, 2020 P15.00 BUSINESSVolume 2 Series 20 12 PAGES Room 310-A, 3rd floor WDC Bldg. Osmeña Blvd., Cebu City WEEK You may visit Cebu Business Week Facebook page. BOC Cebu collects P2.9B in Jan. 2020 The bureau has P63M surplus collection The Bureau of Customs average amount of P250 order from their superiors (BOC) Port of Cebu led by million to P300 million. is to let importers pay Acting District Collector “It so happened that plus penalties for minor Charlito Martin R. Mendoza FilOil doubled its fuel offenses which leads to trade has collected P2.932 billion importation for January facilitation. in January 2020 thus 2020 thus increasing the Atty. Kern Sesante of overtaking the month’s actual collection,” Abarintos the BOC Port of Cebu Legal P2.869 billion target. said. Division, said that last year, The all-time high The BOC and Bureau the bureau has given awards collection of BOC Port of of Internal Revenue (BIR) to individuals and institutions Cebu, was realized through which are both under the that continued to import the strong support and effort Department of Finance products for food, power, of Deputy District Collector (DOF) are the main collection communication, transpor- Lemuel Erwin P. Romero, agents of the government. tation and construction Chief of Assessment Elmer Based on the medium- which contributed to Cebu’s Baelio, Chief Cashier Conrado term program of the economic growth. “Radi” Abarintos, Customs Develop-ment Budget Abarintos said the ten Police District Commander Coordinating Committee top importers for January Col. Jerry Arrizabal, and all (DBCC), the BIR’s total 2020 are Filoil Logistics BOC personnel. goal for 2020 is pegged Corporation, P425.2 Abarintos said the record at P2.576 trillion which is million; Seaoil Philip- high collection resulted to 13.4 percent higher than pines Inc., P181 million; P63 million in collection the bureau’s 2019 target of P141.7 million; National surplus. 2.271 trillion. Grid Corporation of the Abarintos added that As for BOC, its 2020 Philippines (NGCP), P79.3 most of the big importations collection target is P731 million; Ecossential Foods consist of fuel products, billion or 10.6 percent Corproation, KEPCO- construction materials, higher than its 2019 goal SPC Power Corporation, communication equipment, of P661 billion. The P731 P64.8 million; Steel Asia and energy. billion will be divided Manufacturing Corproation, For the fuel importation among the BOC collection P57.2 million; Cebu Energy alone through Customs districts, including the Port Development Corpora- Subport in Dumaguete City, of Cebu which has higher tion,P53.8 million; Nito’s the FilOil company paid target compared to other International Ventures BOC the amount of P450 ports of the country. Inc., P49.3 million ; Smart million for January. FilOil Arrizabal said that while Communications Inc., P47 has a monthly importation they are vigilant against million; and Phil Gold schedule and paid BOC smuggling and other law Processing and Refining, duties and taxes in the violations, the marching P40.2 million. EOB District Collector Charlito Martin R. Mendoza 2 February 4 - February 10, 2020 Cebu Business Week LOCAL CPA 2020 projection hits P2.1B MCPSB now 40 years The Cebu Port Authority Economic Zone (MEZ) government can solve this in banking business (CPA) has a P2.1 billion locators. nCov thing so importation The Metro Cebu Public annual income projection for While the CPA has from China will resume and Savings Bank (MCPSB) has 2020, or P3 billion higher high expectation to realize we can hit our 2020 goal,” celebrated its 40th anniversary than the P1.8 billion actual the P2.1 billion target Miole said. in banking business last Feb. income for 2019. collection for 2020, Miole He added that aside 6, 2020 by hosting dinner for CPA General Manager said importation may from China, ocean-going its clients and guests at Casino Leonilo E. Miole told Cebu decrease starting this month vessels of other countries Español. Business Week that the (February 2020) because like France, Australia and MCPSB Chief Executive projection was based on vessels from China and those Germany which are bound Officer Ruel Romarate said last year’s expectation that from other countries with for the Philippines but on the 40th anniversary was imports will increase. China as transshipment port transshipment with China significant for the bank which In this connection, the are banned from entering are also barred. is active in their campaign for CPA expanded the port the Philippines due to Novel Miole said exporting financial literacy to children in Talisay City and Cebu Coronavirus (nCov). Philippine products to China and youth. International Port (CIP) by ”Most of our imports are is also banned, and this Romarate said that allowing Oriental Port and from China. Unfortunately, is another factor that can CEO Ruel Romarate MCPSB has partnered with Allied Services (OPASCOR) China vessels are banned affect the CPA’s income. If five schools for salary loanThey immediately go to to construct a Finger Wharf from docking in Cebu. If an exporter will bring his and students’ savings. More a store once they receive to increase capacity. there are no imported raw product to China, he cannot schools have signified their money. Whereas, people Miole said the P1.1 materials, MEZ firms willcome home because he will intentions to join MCPSB. who have the habit of billion Finger Wharf is stop operation, and CPA will be banned also. “There are now 144 saving no matter how small, dedicated to foreign vessels lose its income,” Miole said. “I think the health of the kids who opened individual have money to use during carrying imported cargoes “I hope that this scenario Filipinos is more important accounts with MCPSB emergencies. like steel products and other will not come because if than continuing to import which has three branches: While the Kiddie Savings construction items, and this happens, our economy when there is corona virus,” at Lapu-Lapu City public program has only P100 in raw materials for Mactan will be affected. I hope the Miuole said. EOB market, Tabunoc public securing an account, the adult market in Talisay City and can open an account for P500. at Natalio Bacalso Avenue, The interest of MCPSB is higher Cebu city near Cebu Institute than commercial banks. of Technology-University On the issue of online loan, DA to build lab (CIT-U),” Romarate said. Romarate said Land Bank He said the financial has online loan but intended literacy for all Filipinos is a only for the department. in Carmen, Bohol project of Bangko Sentral ng “I would like to discourage The Department of “The problem is that Pilipinas (BSP) participated those who want to avail Agriculture (DA) through its while we are desirous of in by several banks and online loan because BSP has attached agency, Bureau of spending all the government lending institutions. just suspended two lending Soil and Water Management funds alloted to DA at the “It was found out that of institutions for providing (BSWS) will set up a P30 end of the year, we have to the more than 100 million online lending which is million laboratory facility in follow the government’s Filipinos as reported by risky. If a person wants to Carmen, Bohol that will be requirements like bidding Philippine Statistics Authority, borrow P10,000, one of the available for use all over the procedure. We don’t want only 21 percent have bank conditions is for the borrower country. to experience that the accounts. So, our advocacy to provide them access to data DA 7 Director Salvador Commission on Audit (COA) is to campaign for people to information,” Romarate said. Diputado told Cebu Business will disallow our expenses,” open bank accounts and save. He said MCPSB is Week that municipalities Diputado said. DA7 Regional Executive We have to start from the offering traditional banking identified as rice and cornWhen asked why Vietnam Director Atty. Salvador children, the students while products designed for market producers can avail of this produces more rice than the Diputado they are still young. We offer traders plus advices on how facility. Philippines, Diputado said an opening deposit of P100 to earn and save. He said that of the the water in Vietnam is free Provincial Veterinarians of for kids to secure a savings Romarate said that four provinces in Region 7, ever since, while the Filipino Cebu, Bohol, Negros Oriental account,” Romarate said. MCPSB started as Talisay Bohol is known as rice and farmers paid irrigation fee and Siquijor, the Bureau of He said the children City Savings and Loan corn producer. But a great until President Rodrigo Animal Industry-7 (BAI), could have a habit of saving Association. The members of majority of farms in Bohol Duterte assumed officeNational in Meat Inspection 20 percent of their daily the board decided to merge are rain-fed. This is why DA 2016. Service (NMIS) and some school budget or gifts during with Rural bank of Cordova is promoting the massive Diputado said that since technical personnel of DA7 Christmas, birthdays and and Rural Bank of Mactan. planting and growing of trees 50 percent of the cost of rice to come up with a viable. other occasions. On Feb. 2, 1986, they were to support watershed areas. production of Vietnamese strategy. “They may realize that issued by the Central Bank He said DA has been farmers is subsidized, the Diputado urged at the end of the month, they of the Philippines (now BSP) giving assistance to farmers Filipino farmers cannot concerned local government were able to save P2,000 or of a Certificate of Authority.