The Department of Labor and Employment assures sugar workers, millers, and planters that the fund under the Social Amelioration Program for their benefits will not be affected by the lowering of sugar prices in Negros Occidental.
DOLE Western Visayas director Johnson Cañete said yesterday that the amelioration program fund for the sugar industry will remain the same as they continually take P10 for every 50 kilogram (Lkg) of sugar.
“It will not be affected by the lowering of prices, the amount taken per 50-kilogram sugar is the same despite the lowering of sugar prices at mill gates,” he said.
DOLE exec eyes
equal salary rate
The Department of Labor and Employment Western Visayas head is eyeing to propose to the Regional Tripartite Wages and Productivity Board next year equal salary rates of workers, regardless of the industry they are in.
This transpired after an interview with Johnson Cañete, DOLE Western Visayas director yesterday, when the issues on the sugar industry came up, with the mill gate prices continuing to go up.
Cañete said this will help the workers, especially in the agriculture sector to cope with commodity prices amid production issues.
‘PH credit rating upgrade
reflects strong economy'
MANILA - The National Economic and Development Authority welcomed yesterday the Philippine credit-rating upgrade from Fitch Ratings, noting this signifies the country's steady and strong economic performance and investors' confidence.
International debt watcher Fitch Ratings raised Philippine credit rating to stable or “good quality” from the previous BBB-, which means there are no pressing factors that could trigger an adjustment within the near term.
Socioeconomic Planning Secretary and NEDA director-general Ernesto Pernia said the Fitch forecast of Philippine gross domestic product growth of 6.8 percent affirms that the country's economic performance will be consistent, as the economy is poised to be one of the fastest- growing in Asia.