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No more swapping of old Peso bills after Dec. 29

Exchange your coins into paper bills

The Bangko Sentral ng Pilipinas (BSP) is reminding those who are in possession of old peso bills, those released in 1985 and lost monetary value since July, to have those swapped with new banknotes before 2 p.m. tomorrow, Dec. 29.

At the same time, BSP Senior Research Specialist Randy Bolves is urging the public to exchange their coins into paper bills, to enable BSP and the banks to recirculate loose coins than leaving them in cans, bottles and coin banks.

‘Drilon a traitor to the sugar industry’

An official of the Sugar Alliance of the Philippines (SAP) called Senator Franklin Drilon a “traitor to the sugar industry” after it was revealed that he was one of the senators who voted to reduce the excise tax on High Fructose Corn Syrup (HFCS) when the Senate was deliberating on the matter recently.

Manuel Lamata, president of United Sugar Producers Federation of the Philippines (Unifed) said during a press conference Saturday in Talisay City, that sugar industry stakeholders “are greatly disappointed on the actuation of Drilon”.

Sugar price decline: ARBs, workers warn of severe crisis

If the downward trend in sugar prices is not arrested, a severe crisis similar to a prolonged tiempos muertos will hit the sugar industry.


SUGAR WORKERS IN DISTRESS. The Negros Farmworkers and ARB Producers’ Federation, in a press conference at the Negros Press Club yesterday, warns of a severe crisis, similar to a protracted tiempos muertos, if sugar prices continue to decline. (L-R) Gina Barcibal, federation chair Sandrico Cornelio, Tommy Turnis, Dionesio Sanchez, Antero Imbang and Maya de Vera.*

Senate votes 8-7 vs. reducing taxes on HFCS

The Senate last night voted - with eight against and seven in favor, on a proposal to reduce taxes on high fructose corn syrup (HFCS).

Voting against the amendment proposed by Sen. Ralph Recto that would put the HFCS “in parity with sugar”, were Senators Miguel Zubiri, Edgardo Angara Jr., Jose Victor Ejercito, Sherwin Gatchalian, Panfilo Lacson, Senate President Aquilino Pimentel, Joel Villanueva and Riza Hontiveros.

Zubiri said it was a “close call and we nearly lost it.”