Define rural banks equity

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Part of Government Report

Title: Define rural banks equity
extracted text: 4 Government Report, Monday, July 12,1976 Check Status Of 200 Mines In The Country The status of some 200 mines in the country will be reviewed by the Bureau of Mines with the view of finding out the extent of their actual operations and as a move to flush out the so-called “paper mines/’ The move will further aim to check the authenticity of periodic reports submitted by these mining firms to the Securities and Exchange Commission and the mines bureau. Initially, the Bureau of Mines will gather data on these mining firms. After data gathering activities are completed, competent government mining engineers will be sent to the mining sites for ocular inspection. Data gathered by these engineers will be compared with other data previously compiled. The move is also being undertaken by that agency to find out which among the roughly 200 mining firms have actual mining operations and claims and/or operating agreements with claimowners. This task is in coordination with the action of the SEC which is the examination of registered firms that have not Young Medics Sent To Barrios For RHU Stint About 1,200 young medical graduates have been sent this year to the barrios for assignment with rural health units all over the Philippines. These young medical graduates have already taken, the board examinations and are awaiting the results of these examinations. Their assignment to the rural Define Rural Banks Equity The Central Bank ruled that equity investments in any particular rural bank of a holding corporation whose majority voting stock is owned by any one person or by persons related to each other within the third degree of consanguinity or affinity should not exceed 20 per cent of the voting stock. In the case of equity investments of holding corporations owned by 100 per cent Filipino been operating for at least five years. Examination of the records of the mining firms will center mostly on those that are listed on the board of stock exchanges. The SEC and the bureau are also involved in the formulation of guidelines to prevent the listing or registration of the so-called “paper mines.” “Paper mines” are non existent mining concessions being claimed as being operated and/or owned by mining firms. The roughly 200 mining firms eyed for audit practically make up the total mining firms in the country. This number, however, does not include oil mining firms or concession holders. These sectors, have been transferred to the energy development council. It used to be under the bureau of mines. A special section is now being formed by the bureau to handle the task of data gathering. As an adjunct to the investigation, forms will be sent out to all claimowners and leaseholders to find out development works in their respective mining claims. areas is part of the government's rural practice program. This program requires doctors and nurses awaiting results of their bóard examinations to serve for six months in the rural areas. Proof of this service must be presented before they can be issued their license by the Professional Regulations Commission. Transportation to and from their place of assignment at the beginning and end of their six-month stint is free. They will receive P300 monthly stipend if assigned in non-difficult areas and P400 a month if detailed to a difficult area. No transfers are allowed and all are covered by insurance during their period of service. corporate investors participation shall not exceed 30 per cent of the voting stock of any particular bank. The CB circular also provided that all equity investments by these holding companies in rural banks should have prior approval of the Monetary Board. No limit was imposed before on the equity participation of holding companies in rural banks. SPECIAL REPORT The integration of all garbage services in the four cities and 13 municipalities of Metro Manila was recently ordered by Gov. Imelda Romualdez Marcos “to ensure effective execution and implementation of orders, ordinances, plans and policies approved by the commission.” The move was the major step taken to date to put the garbage collection problem out of the way. Taking a frontal attack on the issue, however, President Marcos ordered an intensive study on ways and means of solving once and for all the chronic garbage dilemma in the Metro Manila area. Acting on orders of the First Lady and Metro Manila Gov. Mrs. Imelda Romualdez Marcos, MMC Executive Secretary Eduardo R. Solimán, Jr., organized the Refuse and Environmental Sanitation Center and placed under its direct control and supervision all local public services departments. Under the arrangements, all existing dump sites, including operational equipment (tools, machinery, supplies, materials, etc.) are now under the new agency’s operational control. Research projects, pilot programs, and experiments on refuse management and environmental sanitation in the cities and nnicipalities. will continue under the control and coordination of the center. The integration order also provides that: • The city and municipal mayors will forward directly to the governor’s office all advices, complaints, suggestions, and recommendations regarding refuse management and environmental sanitation services. • The existing functions, duties and responsibilities of the local DPS shall continue to be performed unless otherwise directed in guidelines, systems, and procedures that may be issued by the Center. • The administration arm of the local DPS shall continue to perform its functions, duties, and responsibilities, which shall include personnel, property, budget preparation and control, accounting, internal audit, and security management. • Budgetary proposals for operation requirements of the local DPS from July 1 to Dec. 31, 1976, which were included in the local executive budget submitted to the action officer for finance, shall be submitted by the mayor to the center not later than July 6 for inclusion in the Metro Manila budget. For effective control and supervision, the commission divided the metropolitan area into four sectors, as follows: North sector: Quezon City, Malabon, Valenzuela, Caloocan Set Measures To Relieve Metro-Manila Of Garbage City, Navotas, and San Juan. South sector: Makati, Parañaque, Muntinlupa, Pásay City, Mandaluyong, and Las Piñas¿ East sector: Pasig, Pateros, Marikina, and Taguig. West sector: Manila. Each sector will be headed and managed by a sector refuse and environmental sanitation manager who will exercise supervision over the the local DPS of the cities and municipalities assigned to him. All officials and employes, as well as casual and emergency workers, will continue in office without the necessity of being reappointed and with the same salaries, allowances, or wages. On the use of existing equipment and personnel, the following guidelines have been established: • Regular operations: All regular or usual operational activities will continue to be serviced by existing equipment and personr 1 in each area. • Specif.' operations: The equipment and personnel of one or more areas or sectors may be deployed and utilized in other areas or sectors within Metro Manila as required in the operations plan for special projects or unusual situations. • Special projects and operations currently assigned to and undertaken by local DPS may be continued to prevent disruption or dislocation, subject, however, to the usual audit of funds and personnel utilization. On the order of President Marcos to conduct an intensive study to solve the chronic garbage problems in Metro Manila, the Chief Executive created a three-man committee to evaluate various methods proposed by private and public entities to solve the garbage situation. The President said the study shall not be confined to collection and disposal processes alone but shall also involve garbage recycling. The three-man committee created by the President has the secretary of public works, transportation and communications as chairman, with the secretary of finance and the commissioner of the National Pollution Control Commission as members. At this stage, five processes or facilities face the evaluation of th^ committee. They are the Gon lard, Dano and Prat processes oi garbage disposal, the Ever-Rise Composting Plant, and the Peacock Brand machinery. The Gondard process is a turnkey project which calls for the establishment of at least three Gondard composting plants in Metro Manila. Under this method, garbage is recycled and converted into organic fertilizer, a nutrient containing elements essential to plant growth. The Dano method is a continuous and fully mechanized biological way of transforming refuse into compost under hygienic conditions. It allows sewage-sludge to be processed along with the dry refuse. This method is said to be flexible enough to make possible the treatment of small and large quantities of refuse under widely varying conditions. The Prat system, on the other hand, uses aqrobic fermentation of raw materials, like cans, boxes, papers, cardboards, pieces of wood, plastics, etc. The fermentation process requires ohly five days during which the organic matters undergo chemical transformation. Fourthly, the Ever-Rise composting plant, which has a rated capacity of 2,400 metric tons (2,400,000 kilograms) per day. The daily garbage collection in Metro Manila, estimated to be only 1,200 metric tons (1,200,000 kilograms) per day, can therefore be safely handled by this plant, it was claimed. Components of the plant can be obtained from Germany, according to its proponents. Finally, the Peacock brand machine, which also produces organic fertilizer, churning rubbish into valuable elements that can enhance plant growth. The equipment, patented by both the Chinese and Japanese governments, has many revolutionary designs. The three-man committee organized by the President to determine the merit of the proposed systems of garbage disposals has exactly one month to do its job. The study will be conducted on three over-riding criteria: • Capability and reliability of the machine or equipment. • Value of the process on the basis of cost and benefit to the government. • The financial viability of the scheme under which the machine or equipment may be procured.
Date: 1976
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