August 24, 2017, 2:51 pm
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.07186 UAE Dirham
1 Philippine Peso = 2.19135 Albanian Lek
1 Philippine Peso = 0.03488 Neth Antilles Guilder
1 Philippine Peso = 0.33671 Argentine Peso
1 Philippine Peso = 0.02474 Australian Dollar
1 Philippine Peso = 0.03483 Aruba Florin
1 Philippine Peso = 0.03913 Barbados Dollar
1 Philippine Peso = 1.58501 Bangladesh Taka
1 Philippine Peso = 0.03243 Bulgarian Lev
1 Philippine Peso = 0.00737 Bahraini Dinar
1 Philippine Peso = 33.80317 Burundi Franc
1 Philippine Peso = 0.01957 Bermuda Dollar
1 Philippine Peso = 0.02662 Brunei Dollar
1 Philippine Peso = 0.135 Bolivian Boliviano
1 Philippine Peso = 0.06144 Brazilian Real
1 Philippine Peso = 0.01957 Bahamian Dollar
1 Philippine Peso = 1.25465 Bhutan Ngultrum
1 Philippine Peso = 0.19996 Botswana Pula
1 Philippine Peso = 391.70416 Belarus Ruble
1 Philippine Peso = 0.03909 Belize Dollar
1 Philippine Peso = 0.02455 Canadian Dollar
1 Philippine Peso = 0.0189 Swiss Franc
1 Philippine Peso = 12.52006 Chilean Peso
1 Philippine Peso = 0.13024 Chinese Yuan
1 Philippine Peso = 58.28605 Colombian Peso
1 Philippine Peso = 11.17355 Costa Rica Colon
1 Philippine Peso = 0.01957 Cuban Peso
1 Philippine Peso = 1.82684 Cape Verde Escudo
1 Philippine Peso = 0.43209 Czech Koruna
1 Philippine Peso = 3.48268 Djibouti Franc
1 Philippine Peso = 0.12318 Danish Krone
1 Philippine Peso = 0.91822 Dominican Peso
1 Philippine Peso = 2.14647 Algerian Dinar
1 Philippine Peso = 0.25914 Estonian Kroon
1 Philippine Peso = 0.34533 Egyptian Pound
1 Philippine Peso = 0.45392 Ethiopian Birr
1 Philippine Peso = 0.01656 Euro
1 Philippine Peso = 0.03962 Fiji Dollar
1 Philippine Peso = 0.01527 Falkland Islands Pound
1 Philippine Peso = 0.01529 British Pound
1 Philippine Peso = 0.08616 Ghanaian Cedi
1 Philippine Peso = 0.8785 Gambian Dalasi
1 Philippine Peso = 172.92115 Guinea Franc
1 Philippine Peso = 0.14239 Guatemala Quetzal
1 Philippine Peso = 4.00117 Guyana Dollar
1 Philippine Peso = 0.1531 Hong Kong Dollar
1 Philippine Peso = 0.45643 Honduras Lempira
1 Philippine Peso = 0.12198 Croatian Kuna
1 Philippine Peso = 1.198 Haiti Gourde
1 Philippine Peso = 5.009 Hungarian Forint
1 Philippine Peso = 261.0448 Indonesian Rupiah
1 Philippine Peso = 0.07054 Israeli Shekel
1 Philippine Peso = 1.25296 Indian Rupee
1 Philippine Peso = 22.81354 Iraqi Dinar
1 Philippine Peso = 646.44882 Iran Rial
1 Philippine Peso = 2.09352 Iceland Krona
1 Philippine Peso = 2.49247 Jamaican Dollar
1 Philippine Peso = 0.01385 Jordanian Dinar
1 Philippine Peso = 2.1352 Japanese Yen
1 Philippine Peso = 2.01487 Kenyan Shilling
1 Philippine Peso = 1.34164 Kyrgyzstan Som
1 Philippine Peso = 79.92565 Cambodia Riel
1 Philippine Peso = 8.17413 Comoros Franc
1 Philippine Peso = 17.60908 North Korean Won
1 Philippine Peso = 22.06222 Korean Won
1 Philippine Peso = 0.0059 Kuwaiti Dinar
1 Philippine Peso = 0.01604 Cayman Islands Dollar
1 Philippine Peso = 6.52808 Kazakhstan Tenge
1 Philippine Peso = 162.39483 Lao Kip
1 Philippine Peso = 29.45412 Lebanese Pound
1 Philippine Peso = 2.99315 Sri Lanka Rupee
1 Philippine Peso = 2.24027 Liberian Dollar
1 Philippine Peso = 0.25729 Lesotho Loti
1 Philippine Peso = 0.05965 Lithuanian Lita
1 Philippine Peso = 0.01214 Latvian Lat
1 Philippine Peso = 0.02677 Libyan Dinar
1 Philippine Peso = 0.1841 Moroccan Dirham
1 Philippine Peso = 0.34915 Moldovan Leu
1 Philippine Peso = 1.0182 Macedonian Denar
1 Philippine Peso = 26.62884 Myanmar Kyat
1 Philippine Peso = 47.54451 Mongolian Tugrik
1 Philippine Peso = 0.15767 Macau Pataca
1 Philippine Peso = 7.0632 Mauritania Ougulya
1 Philippine Peso = 0.64704 Mauritius Rupee
1 Philippine Peso = 0.30033 Maldives Rufiyaa
1 Philippine Peso = 14.01037 Malawi Kwacha
1 Philippine Peso = 0.34596 Mexican Peso
1 Philippine Peso = 0.08361 Malaysian Ringgit
1 Philippine Peso = 0.25735 Namibian Dollar
1 Philippine Peso = 7.0632 Nigerian Naira
1 Philippine Peso = 0.57816 Nicaragua Cordoba
1 Philippine Peso = 0.1539 Norwegian Krone
1 Philippine Peso = 2.00059 Nepalese Rupee
1 Philippine Peso = 0.02707 New Zealand Dollar
1 Philippine Peso = 0.00752 Omani Rial
1 Philippine Peso = 0.01957 Panama Balboa
1 Philippine Peso = 0.06327 Peruvian Nuevo Sol
1 Philippine Peso = 0.06425 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.05811 Pakistani Rupee
1 Philippine Peso = 0.07095 Polish Zloty
1 Philippine Peso = 109.62629 Paraguayan Guarani
1 Philippine Peso = 0.0718 Qatar Rial
1 Philippine Peso = 0.07593 Romanian New Leu
1 Philippine Peso = 1.15543 Russian Rouble
1 Philippine Peso = 16.15574 Rwanda Franc
1 Philippine Peso = 0.07337 Saudi Arabian Riyal
1 Philippine Peso = 0.15192 Solomon Islands Dollar
1 Philippine Peso = 0.26554 Seychelles Rupee
1 Philippine Peso = 0.13031 Sudanese Pound
1 Philippine Peso = 0.15764 Swedish Krona
1 Philippine Peso = 0.02663 Singapore Dollar
1 Philippine Peso = 0.01528 St Helena Pound
1 Philippine Peso = 0.43447 Slovak Koruna
1 Philippine Peso = 146.74232 Sierra Leone Leone
1 Philippine Peso = 10.89806 Somali Shilling
1 Philippine Peso = 405.92448 Sao Tome Dobra
1 Philippine Peso = 0.1712 El Salvador Colon
1 Philippine Peso = 10.07591 Syrian Pound
1 Philippine Peso = 0.25733 Swaziland Lilageni
1 Philippine Peso = 0.65193 Thai Baht
1 Philippine Peso = 0.04773 Tunisian Dinar
1 Philippine Peso = 0.04379 Tongan paʻanga
1 Philippine Peso = 0.06807 Turkish Lira
1 Philippine Peso = 0.13216 Trinidad Tobago Dollar
1 Philippine Peso = 0.59221 Taiwan Dollar
1 Philippine Peso = 43.65095 Tanzanian Shilling
1 Philippine Peso = 0.49932 Ukraine Hryvnia
1 Philippine Peso = 70.27979 Ugandan Shilling
1 Philippine Peso = 0.01957 United States Dollar
1 Philippine Peso = 0.56075 Uruguayan New Peso
1 Philippine Peso = 81.4909 Uzbekistan Sum
1 Philippine Peso = 0.19517 Venezuelan Bolivar
1 Philippine Peso = 444.51183 Vietnam Dong
1 Philippine Peso = 2.02935 Vanuatu Vatu
1 Philippine Peso = 0.04937 Samoa Tala
1 Philippine Peso = 10.85815 CFA Franc (BEAC)
1 Philippine Peso = 0.05283 East Caribbean Dollar
1 Philippine Peso = 10.74819 CFA Franc (BCEAO)
1 Philippine Peso = 1.96419 Pacific Franc
1 Philippine Peso = 4.89043 Yemen Riyal
1 Philippine Peso = 0.25716 South African Rand
1 Philippine Peso = 101.5359 Zambian Kwacha
1 Philippine Peso = 7.08081 Zimbabwe dollar

NTA clarification

THIS refers to the news article “P728 paid in invalid bonuses, allowances” that appeared in Malaya Business Insight on November 2, 2016, and carried online on the same date by your news website http:www.malaya.com.ph/business-news.

We would like to draw your attention to the inaccurancy of said news article, as it does not speak the truth or is misleading as far as the National Tobacco Administration is concerned.

According to the news article, NTA is one of those government-owned or –controlled corporations (GOCCs) who paid their personnel in “questionable compensation” or “invalid bonuses and allowances.”

While it is true that we received a notice of disallowance from the Commission on Audit (COA) amounting to P2.012 million, we want to clarify that said disallowance is not a case of illegal bonuses for our personnel, as the news article suggests, but for incentives given to our tobacco farmers in the form of farm implements, which COA deemed to be “extravagant expenses,” per Letter of Disallowance dated June 24, 2016 by Divina M. Telan, COA OIC Supervising Auditor.

The source of the news report, the 2015 Financial Report of GOCCs submitted by COA to President Rodrigo Duterte and Congress, does not say a word attributing to NTA any act, directly or by implication of issuing illegal bonuses of unauthorized personnel compensation to its personnel.

Allow me to give an overview on the basis of COA’s findings. In tobacco crop year 2013-2014, NTA awarded farm implements, such as water hose, sprayer, rake, tool box set, among others, to the farmer-cooperators of its flagship project the tobacco Contract Growing System (TCGS) as incentives for religiously following Good Agricultural Practices (GAP). COA disallowed the transaction in its audit, declaring the incentive awards as an “extravagant” expenditure as defined under COA Circular No. 2012-13 (dated October 29, 2012). Item 6.1 of said circular defines “extravagant” as an expenditure which signifies those incurred without restraint, judiciousness and economy. “Extravagant” means exceeding the bound of propriety, and “extravagant expenditures” are immoderate, prodigal, lavish, grossly excessive and injudicious.

COA disallowed the subject expenditure on the premise that certain criteria in the grant of awards to our TCGS as embodied in the project proposal and the qualifications of contestants in the Tobacco Grower of the Year (TGY) contest for the same period are almost parallel. The auditors concluded that the awarding  of incentives is deemed no longer necessary since the TCGS could have just participated in the TGY contest.

We note in this regard that TCGS farmers are given incentives to encourage adoption of the prescribed production practices, for them to excel in the production of quality tobacco and earn higher income, which may qualify them as contestant to the TGY contest, which is a competition among the farmer-cooperators who have already proven their excellence in tobacco production years before.

On August 12, 2016, we filed an appeal before the Commission on Audit’s Office of the Cluster Director, Corporate Government Sector (Cluster 5), to seek the reversal of the COA’s Notice of Disallowance. Here we explained with emphasis that the disbursement for grant of incentives awards for our tobacco farmers was not made for personal or selfish ends.

The incentive that NTA gave our farmers would cost an average of only P1,000 per farmer-cooperator, in the form of farm implements, which were purchased through a public bidding and approved by the Governing Board, and without findings of overpricing irregularities in the bidding process. – EDGARDO D. ZARAGOZA, Administrator, National Tobacco Administration
Category: 
Rating: 
No votes yet