By Dr. Bernardo M. Villegas
A distinct advantage of emerging markets like the Philippines in the next two to three decades is the demographic dividend that endows them not only with large domestic markets but also with a young and growing work force, in contrast with the aging societies in the developed world. Even in this era of highly advanced technology, human labor will continue to be a competitive advantage of the so-called “breakout” nations, to use a term of Ruchir Sharma of Morgan Stanley. It is important, therefore, that there be more innovative approaches to organizing workers for both productive and inclusive growth. One of these innovations has already been introduced to the Philippines by some pioneering labor leaders and is about to benefit from the work of enlightened legislators who are introducing a bill “to further strengthen the standard of protection and enhancement of the welfare of self-employed workers and craftsmen and the promotion of entrepreneurship, thereby amending Section 8 of Republic Act 8282, otherwise known as the Social Security Act of 1997.”
The National Confederation of Cooperatives (NATCCO) is holding its 11th Cooperative Congress and 35th General Assembly on May 25 to 27 at the Waterfront Hotel. Attending are more than 600 representatives from member-cooperatives in the three major islands of Luzon, Visayas and Mindanao.
By Gil C. Cabacungan Jr.
The House of Representatives will investigate the Land Bank of the Philippines (LandBank) to determine whether the state-owned bank was lax for losing around P500 million in loans to cooperatives and financial institutions in the provinces.
They came from as far north as Ilocos Norte and as far south as Sarangani Province. One-hundred thirty-two branch managers and staff, and cooperative leaders from the 50 branches of the Microfinance Innovations in Cooperatives Program (MICOOP) of the National Confederation of Cooperatives (NATCCO Network) converged at the Pryce Plaza Hotel on Thursday April 19 to 21, 2012 for the 5th Annual National MICOOP Forum.
By Amy R. Remo
Electric cooperatives in Mindanao may soon tap as much as 300 megawatts in additional supply to avert up to eight hours of rotating brownouts on the island, the Department of Energy (DoE) announced.
By Amy R. Remo
The Department of Energy (DoE) on Wednesday accused electric cooperatives in Mindanao of further aggravating the power supply crunch on the island for failing to observe the provisions of existing contracts and protocols.
By Carla P. Gomez
The Court of Tax Appeals has ordered the Bureau of Internal Revenue (BIR) to refund over P19 million in advance value added tax (VAT) erroneously collected from a sugar producers’ cooperative.
By Michelle V. Remo
Development Bank of the Philippines has beefed up its cooperative lending in the northern part of the country in line with efforts to help develop the cooperative sector.
NEW YORK – International Co-operative Alliance (ICA) has launched the latest Global300 Report, which announced that the largest 300 co-operative enterprises in the world and their collective revenues of $1.6 trillion, which is comparable to the GDP of the world’s ninth largest economy. The report detailed that although co-operatives were affected by the global financial [...]
By Ronnel W. Domingo
Cooperatives are not required to withhold taxes on interest from their members’ savings and time deposits, according to the Bureau of Internal Revenue. According to Revenue Commissioner Kim S. Henares, this ruling still has to be affirmed and publicized following a Supreme Court decision issued in January 2010. In Revenue Memorandum Circular No. 47-2011, Henares [...]
By Amy R. Remo
STATE-RUN Power Sector Assets and Liabilities Management Corp. recently assumed about P12 billion of what rural electric cooperatives owed the National Electrification Administration, local governments and other government agencies, as of end-April this year. According to the 18th status report on the implementation of the Electric Power Industry Reform Act of 2001, the amount accounts [...]
By Amy R. Remo
State-run National Power Corp. (Napocor) has forged power supply agreements (PSAs) with 39 electric cooperatives, ensuring the continued and stable supply of electricity in remote areas. In a statement posted on its website, Napocor said it signed earlier this month agreements with members of the Association of Isolated Electric Cooperatives Inc., which are customers of [...]