ERC: Meralco rate hike expected in October;
ERC: Meralco rate hike expected in October;
BSP, DOLE push for digital wage payments;
HMO recovers in H1 2024, benefit payments up 15%;
Gov’t to continue addressing root causes of poverty
BSP, DOLE push for digital wage payments;
HMO recovers in H1 2024, benefit payments up 15%;
Gov’t to continue addressing root causes of poverty
Transcript
00:00Customers of Meralko may have to brace themselves for a higher power bill starting October.
00:05Let's find out why in tonight's Business News Wrap-Up by Joms Balagat.
00:12Customers of Meralko may need to tighten their bills for higher electricity costs
00:17with the Energy Regulatory Commission allowing the power distributor to collect pass-through
00:22costs from its natural gas suppliers starting October. According to ERC Chairperson Monalisa
00:28Dimalanta, the additional cost to be expected could amount to 32 centavos to 33 centavos per
00:34kilowatt-hour for 12 months. Leaders in the labor and employer sectors are being urged to use safe
00:42and effective digital salary payments by the Banco Central ng Pilipinas and the Department of Labor
00:48and Employment. Based on the results of the 2021 Financial Inclusion Survey of the BSP,
00:54around 70% of salaries from the private sector in the country are still paid in cash. According
01:00to a study, over 50% of adults in developing nations established their first bank account
01:06to start receiving digital wage payments. The Insurance Commission reported that healthcare
01:13benefits paid out by health maintenance organizations went up by 15.7% in the first
01:19half of this year. The ICC said HMOs paid 30.33 billion pesos in benefits up from 26.23 billion
01:27pesos in the same period last year. National Economic and Development Authority or NEDA
01:33Secretary Arsenio Balisacan said the government will continue to address the root causes of poverty
01:40despite its decline across the regions and provinces. Secretary Balisacan added a range
01:46of social protection programs, policy reforms, and development initiatives are being done.
01:51Joms Baladan from the National TV Network for a New and Better Philippines.