May 21, 2018, 1:11 pm
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1 Philippine Peso = 0.07026 UAE Dirham
1 Philippine Peso = 2.05873 Albanian Lek
1 Philippine Peso = 0.03425 Neth Antilles Guilder
1 Philippine Peso = 0.46453 Argentine Peso
1 Philippine Peso = 0.02544 Australian Dollar
1 Philippine Peso = 0.03405 Aruba Florin
1 Philippine Peso = 0.03826 Barbados Dollar
1 Philippine Peso = 1.60723 Bangladesh Taka
1 Philippine Peso = 0.0317 Bulgarian Lev
1 Philippine Peso = 0.00722 Bahraini Dinar
1 Philippine Peso = 33.49876 Burundi Franc
1 Philippine Peso = 0.01913 Bermuda Dollar
1 Philippine Peso = 0.02542 Brunei Dollar
1 Philippine Peso = 0.13124 Bolivian Boliviano
1 Philippine Peso = 0.07071 Brazilian Real
1 Philippine Peso = 0.01913 Bahamian Dollar
1 Philippine Peso = 1.2952 Bhutan Ngultrum
1 Philippine Peso = 0.18932 Botswana Pula
1 Philippine Peso = 383.01129 Belarus Ruble
1 Philippine Peso = 0.03822 Belize Dollar
1 Philippine Peso = 0.02451 Canadian Dollar
1 Philippine Peso = 0.01912 Swiss Franc
1 Philippine Peso = 12.10044 Chilean Peso
1 Philippine Peso = 0.12185 Chinese Yuan
1 Philippine Peso = 55.53664 Colombian Peso
1 Philippine Peso = 10.74517 Costa Rica Colon
1 Philippine Peso = 0.01913 Cuban Peso
1 Philippine Peso = 1.78535 Cape Verde Escudo
1 Philippine Peso = 0.41378 Czech Koruna
1 Philippine Peso = 3.39105 Djibouti Franc
1 Philippine Peso = 0.12057 Danish Krone
1 Philippine Peso = 0.94701 Dominican Peso
1 Philippine Peso = 2.21703 Algerian Dinar
1 Philippine Peso = 0.25324 Estonian Kroon
1 Philippine Peso = 0.33977 Egyptian Pound
1 Philippine Peso = 0.52037 Ethiopian Birr
1 Philippine Peso = 0.01619 Euro
1 Philippine Peso = 0.03941 Fiji Dollar
1 Philippine Peso = 0.01415 Falkland Islands Pound
1 Philippine Peso = 0.01416 British Pound
1 Philippine Peso = 0.08822 Ghanaian Cedi
1 Philippine Peso = 0.89669 Gambian Dalasi
1 Philippine Peso = 172.1829 Guinea Franc
1 Philippine Peso = 0.14035 Guatemala Quetzal
1 Philippine Peso = 3.96537 Guyana Dollar
1 Philippine Peso = 0.15017 Hong Kong Dollar
1 Philippine Peso = 0.45456 Honduras Lempira
1 Philippine Peso = 0.11944 Croatian Kuna
1 Philippine Peso = 1.20911 Haiti Gourde
1 Philippine Peso = 5.13067 Hungarian Forint
1 Philippine Peso = 270.32715 Indonesian Rupiah
1 Philippine Peso = 0.06863 Israeli Shekel
1 Philippine Peso = 1.30065 Indian Rupee
1 Philippine Peso = 22.65162 Iraqi Dinar
1 Philippine Peso = 803.52018 Iran Rial
1 Philippine Peso = 1.99541 Iceland Krona
1 Philippine Peso = 2.38971 Jamaican Dollar
1 Philippine Peso = 0.01355 Jordanian Dinar
1 Philippine Peso = 2.12078 Japanese Yen
1 Philippine Peso = 1.9141 Kenyan Shilling
1 Philippine Peso = 1.31014 Kyrgyzstan Som
1 Philippine Peso = 77.4823 Cambodia Riel
1 Philippine Peso = 7.95542 Comoros Franc
1 Philippine Peso = 17.21829 North Korean Won
1 Philippine Peso = 20.58408 Korean Won
1 Philippine Peso = 0.00578 Kuwaiti Dinar
1 Philippine Peso = 0.01569 Cayman Islands Dollar
1 Philippine Peso = 6.27415 Kazakhstan Tenge
1 Philippine Peso = 159.05873 Lao Kip
1 Philippine Peso = 28.79281 Lebanese Pound
1 Philippine Peso = 3.0199 Sri Lanka Rupee
1 Philippine Peso = 2.55519 Liberian Dollar
1 Philippine Peso = 0.24106 Lesotho Loti
1 Philippine Peso = 0.05833 Lithuanian Lita
1 Philippine Peso = 0.01187 Latvian Lat
1 Philippine Peso = 0.02592 Libyan Dinar
1 Philippine Peso = 0.18009 Moroccan Dirham
1 Philippine Peso = 0.31752 Moldovan Leu
1 Philippine Peso = 0.9912 Macedonian Denar
1 Philippine Peso = 25.82743 Myanmar Kyat
1 Philippine Peso = 45.91544 Mongolian Tugrik
1 Philippine Peso = 0.15467 Macau Pataca
1 Philippine Peso = 6.77253 Mauritania Ougulya
1 Philippine Peso = 0.65812 Mauritius Rupee
1 Philippine Peso = 0.29788 Maldives Rufiyaa
1 Philippine Peso = 13.65028 Malawi Kwacha
1 Philippine Peso = 0.37609 Mexican Peso
1 Philippine Peso = 0.07594 Malaysian Ringgit
1 Philippine Peso = 0.2393 Namibian Dollar
1 Philippine Peso = 6.84905 Nigerian Naira
1 Philippine Peso = 0.60003 Nicaragua Cordoba
1 Philippine Peso = 0.15524 Norwegian Krone
1 Philippine Peso = 2.07193 Nepalese Rupee
1 Philippine Peso = 0.02769 New Zealand Dollar
1 Philippine Peso = 0.00736 Omani Rial
1 Philippine Peso = 0.01913 Panama Balboa
1 Philippine Peso = 0.06261 Peruvian Nuevo Sol
1 Philippine Peso = 0.06237 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.21159 Pakistani Rupee
1 Philippine Peso = 0.06942 Polish Zloty
1 Philippine Peso = 107.26994 Paraguayan Guarani
1 Philippine Peso = 0.06963 Qatar Rial
1 Philippine Peso = 0.07496 Romanian New Leu
1 Philippine Peso = 1.18388 Russian Rouble
1 Philippine Peso = 16.19304 Rwanda Franc
1 Philippine Peso = 0.07174 Saudi Arabian Riyal
1 Philippine Peso = 0.14965 Solomon Islands Dollar
1 Philippine Peso = 0.25694 Seychelles Rupee
1 Philippine Peso = 0.34351 Sudanese Pound
1 Philippine Peso = 0.16686 Swedish Krona
1 Philippine Peso = 0.02567 Singapore Dollar
1 Philippine Peso = 0.01416 St Helena Pound
1 Philippine Peso = 0.42483 Slovak Koruna
1 Philippine Peso = 149.22518 Sierra Leone Leone
1 Philippine Peso = 10.771 Somali Shilling
1 Philippine Peso = 396.71513 Sao Tome Dobra
1 Philippine Peso = 0.1674 El Salvador Colon
1 Philippine Peso = 9.85231 Syrian Pound
1 Philippine Peso = 0.23938 Swaziland Lilageni
1 Philippine Peso = 0.61427 Thai Baht
1 Philippine Peso = 0.04806 Tunisian Dinar
1 Philippine Peso = 0.04443 Tongan paʻanga
1 Philippine Peso = 0.0851 Turkish Lira
1 Philippine Peso = 0.12721 Trinidad Tobago Dollar
1 Philippine Peso = 0.57216 Taiwan Dollar
1 Philippine Peso = 43.52401 Tanzanian Shilling
1 Philippine Peso = 0.5001 Ukraine Hryvnia
1 Philippine Peso = 71.05414 Ugandan Shilling
1 Philippine Peso = 0.01913 United States Dollar
1 Philippine Peso = 0.58772 Uruguayan New Peso
1 Philippine Peso = 153.05146 Uzbekistan Sum
1 Philippine Peso = 1335.85231 Venezuelan Bolivar
1 Philippine Peso = 435.89057 Vietnam Dong
1 Philippine Peso = 2.09853 Vanuatu Vatu
1 Philippine Peso = 0.04966 Samoa Tala
1 Philippine Peso = 10.60895 CFA Franc (BEAC)
1 Philippine Peso = 0.05165 East Caribbean Dollar
1 Philippine Peso = 10.60895 CFA Franc (BCEAO)
1 Philippine Peso = 1.92175 Pacific Franc
1 Philippine Peso = 4.78095 Yemen Riyal
1 Philippine Peso = 0.23941 South African Rand
1 Philippine Peso = 99.28257 Zambian Kwacha
1 Philippine Peso = 6.92367 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
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