CPA chips in P500 million for COVID fight

CEBU, Philippines —  The Cebu Port Authority contributed P500 million to the national treasury to help fund government responses against the Coronavirus Disease (COVID-19) pursuant to Republic Act No. 11469 or the “Bayanihan to Heal as One Act.”

“While CPA is in charge of making sure that cargo and supply chain remain unhampered amidst the COVID-19 pandemic, we continue to seek all possible means to support the national effort. We hope that the amount we shared would be a significant contribution,” CPA general manager Leonilo Miole said in a statement.

Miole said that the contributions of the CPA and government owned and controlled corporations would support the implementation of the emergency measures undertaken to contain the spread of the COVID-19 and facilitate the provision of necessary assistance to cushion the impact of the adverse economic disruptions.

The P500 million budget was allotted from the CPA full remittance of dividend for CY 2019 and some additional contribution taken from the CPA 2020 allotment.

“Our full remittance of dividend for CY 2019 amounted to P419,221,179.34 and with the added contribution of P80,778,820,66, we were able to come up with the P500 million COVID-19 help fund,” Miole said.

Also, CPA informed that no passenger trips inbound and outbound Cebu have been allowed to date due to the enhanced community quarantine and travel restrictions implemented by Cebu province and other respective provinces.

However, movement and delivery of cargoes and supplies continues in all CPA ports and terminals in the province.

With 24/7 operation, the CPA said it is aware of the need for stringent security and health protocols measures consistent with the protocols set by the Department of Health (DOH).

The port authority also facilitated the procurement of personal protective equipment (PPE) for all port frontliners, such as surgical masks, non-contact thermometers, reusable protective glasses and polypropylene coveralls. Procurement and installation of lavatories in strategic areas in ports is also on-going to ensure that all persons entering the port facilities are free from any contaminants or disease.

Meanwhile, the Philippine National Oil Company Group of Companies also heeded the call of President Rodrigo Duterte, remitting a total of P7 billion to the national treasury in order to help fund the program of the national government under the “Bayanihan to Heal as One Act”.

In a statement released by the Department of Energy, it said that the parent company’s board of directors approved the recommendation of the management under its President and CEO, retired Admiral Reuben Lista (former Commandant of the Philippine Coast Guard), to remit P5 billion of its accumulated retained earnings during its special board meeting before the Holy Week break.

Its exploration subsidiary under its newly-appointed head, retired Lt. Gen. Rozzano Briguez (PAF), a former Commanding General of the Philippine Air Force, put up to P2 billion of the total contributed fund.

“We commend and thank the PNOC Group Management and directors for this significant contribution to our fight against COVID-19. The energy family is united not only in ensuring unhampered energy services during this period, but also in seeking all possible ways to support the government, our frontliners, and our people,” DOE Secretary Alfonso Cusi said.

The PNOC Board of Directors also pledged to donate a portion of their per diems to the procurement of much-needed protective gear and supplies for healthcare frontliners.

PNOC, the premier energy company charged with maintaining adequate and stable supply of oil and providing vital energy infrastructure for the country, is a government-owned and -controlled corporation (GOCC) with two subsidiaries PNOC Exploration Corporation (PNOC EC) and PNOC Renewables Corporation (PNOC RC).

PNOC EC, which is 99%-owned by PNOC, is the exploration arm which holds 10% working interest in Service Contract 38 (also known as the Malampaya Deep Water Gas-to-Power Project).

PNOC RC, on the other hand, is the subsidiary charged with development of solar, hydro, waste-to-energy and other renewable energy projects.

Cusi sits as ex-officio chairman of the boards of PNOC and its subsidiaries.  JMD (FREEMAN)



Source:

https://www.philstar.com/cebu-news/2020/04/15/2007458/cpa-chips-p500-million-covid-fight

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