Mindanao Brownout Bad for Business, Development - Sen. Bam

Senator Bam Aquino calls on concerned government agencies to immediately address the rotating brownout in Mindanao, saying it impedes the development of the region.

"We cannot accept that businesses are losing millions of pesos everyday. Lost income will lead to loss of jobs and other livelihood opportunities for our people," said Aquino, chairman of the Committee on Trade, Commerce and Entrepreneurship.

Aquino, who hails from Davao, urged the government to open the electricity market to small independent power producers to help solve power shortage in the area.

"A more competitive and a level-playing market would provide better service to our people," said Aquino, who recently visited Davao to check on businesses in the area.

Aquino said it is not acceptable that prospective investors would lose interest in the region because of the long power interruption.

"These power interruptions are putting Mindanao's present and future economic development at risk so we must address this now," the senator emphasized.

"How can Mindanao be the next big thing in business if electricity supply continues to be a problem," he added.

Aquino made the reaction after the Cagayan de Oro Chamber of Commerce and Industry (CDOCCI) revealed that Mindanao businesses are losing an estimated P30 million per hour to power interruption.

"With an average of six hours of power interruption, Mindanao businesses are losing P180 million per day. This is really bad for business and bad for prospective investors," Aquino said.