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Bacolod City, PhilippinesMonday, November 4, 2013
‘Help ready for OFWs
affected by Saudization’

A Palace official said yesterday that the government is prepared to assist the thousands of Filipinos overseas workers who will be displaced by the "Saudization" policy in the oil-rich Middle Eastern Kingdom.

The Philippine government has allocated some P2 billion reintegration fund for returning Filipino workers from Saudi Arabia, Presidential Communications Operations Office head Herminio Coloma Jr. said.

He said that with the contingency measures in place, government agencies like the departments of labor and employment and foreign affairs assured the "limited" effects of "Saudization" policy.

Producers sell P30.5M
in certified seeds

The Negros Occidental Certified Seeds Producers Cooperative has sold about P30.5 million worth of certified palay seeds in the first three quarters of the year, records from the NOCSPC furnished the DAILY STAR showed yesterday.

NOCSPC had sold to the Department of Agriculture, farmers group and different local government units 25,470 bags of certified palay seeds at P1,200 each since January.

It also traded 2,009 bags of registered palay seeds at P1,600 each in the first three quarters of the year, although no bags of seeds were sold in August.

Probe over fraudulent
reporting on cigarets set

The House Committee on Ways and Means will conduct an inquiry on the alleged fraudulent reporting of the volume of tobacco and cigaret withdrawals or importations committed by unscrupulous entities that have resulted in undervaluation or misdeclaration of these products and grossly incorrect excise taxes paid to the government.

Rep. Paolo Javier (Lone District, Antique) sought the inquiry through House Resolution 425, saying questions arose as to how certain cigaret brands can be sold at such low prices despite the tax increases, and whether the government is maximizing the tax revenues when there are reports of massive down-trading from high-priced to low-priced brands.

There is a need to review the consequences and implications of the recent excise tax increases in view of current market conditions and the proper implementation of the law restructuring the excise tax on alcohol and tobacco products, Javier said in a press release from Congress.

Business
Button‘Help ready for OFWs affected by Saudization’
ButtonProducers sell P30.5M in certified seeds
ButtonProbe over fraudulent reporting on cigarets set

ButtonBank lending sustains growth
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Eco-tourism confab postponed
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