Economic News

MANILA – Oil companies today started implementing rollback on prices of petroleum products.

The pump prices of diesel was but by P3.95 per liter while the prices of kerosene and gasoline were reduced by P2.65 and P0.85 per liter, respectively.

The Dept of Energy announced that the price adjustments were based on the monitoring of the Mean of Platts Singapore (MOPS) from Nov. 21 to 24.

The MOPS is a daily average of all trading transactions of petroleum products in the Singapore trading hub where the Philippines acquire supplies of petroleum products.

COTABATO CITY—Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) maintained its record as the region with the lowest inflation rate nationwide at 6.5 percent, according to Philippine Statistics Authority (PSA). 

BARMM tied with Region XII or SOCCSKSARGEN with the same rating for October 2022.

To recall, BARMM's inflation rate in the previous month of September 2022 was recorded at 6.0 percent with a slight 0.5 percent increase in October.

COTABATO CITY --- Officials want natural resources in the Bangsamoro region harnessed soon for its communities to bounce back from poverty caused by decades of armed conflicts.

The Bangsamoro Autonomous Region in Muslim Mindanao covers a number of towns along central Mindanao’s Liguasan Delta, said to have natural gas deposit that foreign and local experts said is largest in Asia.

COTABATO CITY—The prices of basic necessities (BN) in the Bangsamoro region are frozen, following the declaration of calamity due to massive flooding, the Ministry of Trade, Investments and Tourism (MTIT) announced Tuesday. 

This is in line with Republic Act (RA) 7581 also known as the Price Act of the Philippines, which suggests that “prices of basic necessities (BN) are automatically frozen at their prevailing prices for sixty (60) days once a state of calamity (SOC) is declared in an area.”

COTABATO CITY --- An aquamarine and agriculture production tie-up between two multinational groups and the government has taken off in just four months after forging tie-ups for the ventures.

The projects involve the Tokushima Auction Market of Tokushima City in Japan, the Asia Pacific Precision Agriculture Group, or ASPAC AG, and the state’s Southern Philippines Development Authority.

In a statement Monday, the SPDA said its separate ventures with the two firms have taken off.

Please be informed that effective July 18, 2022, our In-house Accredited Collection Center at Alnor is now using their own Collection System Acknowledgement Receipt as Third Party Agent (TPA). Posting of payments will be credited on the next calendar day.

When paying thru TPA, always bring your current bill either (Physical Bill, Mobile AP or EbillTxt) for tellers’ reference.

Kindly settle the monthly electricity bill on or before the due date to avoid disconnection and 2% surcharge which will be added on the next billing cycle.

COTABATO CITY - The Department of Energy (DOE) has commended the Cotabato Light and Power Company (Cotabato Light), for the immense support and efforts as part of the Energy Task Force Election (ETFE).

See: Cotabato Light preparedness resulted to zero power interruption during election (https://www.ndbcnews.com.ph/news/cotabato-light-preparedness-resulted-ze...)

MANILA – The Department of Energy (DOE) on Tuesday proposed that mechanisms of Republic Act (RA) 8479 or the Oil Deregulation Act be provided with a framework for the government to intervene and address sudden or prolonged oil price hikes, including unbundling the cost of petroleum retail products to determine their real and passed-on costs

MANILA – Senator Aquilino Pimentel III on Monday sent his appeal to the incoming Marcos administration to identify and remove taxes and other fees in fuel transactions that can minimize the effects of surging prices of petroleum products.

Pimentel said removing the excise tax and other fees on fuel is an Executive action but he will file a bill to formalize his request.

COTABATO CITY — Bangsamoro Autonomous Region in Muslim Mindanao's (BARMM) economic performance  increased by 7.5 percent in 2021 and recorded the second-fastest growth among all regions in the country, the Philippine Statistics Authority (PSA) announced in a news conference Thursday, April 28.