FLASHBACK January 30, 2001-2003

Moves on to repeal 3-year limit[/B]

Works are now underway in the upper house of the CNMI Legislature to repeal a current law that limits the stay of nonresident workers in the Commonwealth to three years, after which they will be barred from coming back until after six months. In an interview with reporters yesterday, Senate Floor Leader Pete P. Reyes said a proposal that seeks to eliminate the three-year limit has already been introduced and is currently sitting in the upper chamber for a deeper and thorough review. Reyes said a public hearing will be scheduled to allow the Northern Marianas community to submit testimony on the proposal.

The finance department is preparing the release of over $600,000 worth of checks that will be paid to local taxpayers under the Additional Child Tax Credit Program, which the US Internal Revenue Service implements in the CNMI following months of oversight. Finance Secretary Lucy Dlg. Nielsen said the department is poised at releasing the checks this week, adding that DOF officials and personnel are now processing the applications submitted to the Division of Revenue and Taxation. Rushing to the regular meeting of the government’s finance managers on the Finance Management Improvement Plan at the Capitol Hill yesterday, Nielsen failed to give further details especially on the number of families who will receive their checks first.

Jobless rate hike in Japan to affect NMI[/B]

The CNMI economy is in for another year of upheaval as Japan’s unemployment rate reached a record-high of 5.6 percent in December—a trend seen to diminish the remaining hopes of the Commonwealth’s tourism industry. Local businessmen expressed serious doubts that the CNMI economy will stabilize by midyear as earlier projected, as travel security and recession continue to hit Japan and other Asian countries. Coupled with a weak rally of the yen versus the US dollar, which has deteriorated significantly in the last two years, businessmen believe that a major turnaround in the CNMI tourism industry is yet to be seen in 2003.

To paraphrase rap artist Eminem, will the real Slim Shady at the Customs Division please stand up! That might as well be the refrain of employees at the Division of Customs, after the recent appointment of Frank Taitano as director of the division, despite director Joe Mafnas still occupying the post. “It’s a source of confusion right now for the staff and it may also create confusion among our clients on who makes the decisions here now. It is a problem that needs to be addressed immediately,” said Mafnas in an interview yesterday.

Tug-of-war in BoS license renewal [/B]

With Bank of Saipan on the brink of losing its license, bank receiver Antonio Muna asked the court yesterday to intervene so that renewal of its license could be facilitated. The bank’s license expires this Friday. Muna said there is no hope of rehabilitating and reopening the bank if its license would not be renewed. Commerce Secretary Fermin Atalig had recently denied the bank’s application to renew its license. As this developed, the bank separately asked the Superior Court yesterday to approve the rehabilitation plan it submitted, asking that the matter be heard in open court immediately. Presiding Judge Edward Manibusan agreed and scheduled a hearing on February 12, whether or not to approve the rehabilitation plan.

Commerce Secretary and Banking Director Fermin Atalig yesterday challenged the request of Bank of Saipan receiver Antonio Muna for the court to facilitate the renewal of the bank’s license, saying the judiciary has no power to compel him to relinquish powers vested in his position by the CNMI Legislature. Assistant Attorney General Benjamin Sachs, on behalf of Atalig, also said the receiver is bound by the same legislative requirements of licensure as the bank itself. “Under the primary jurisdiction doctrine, courts are to refrain from deciding controversies within the jurisdiction of an agency until after the agency head has rendered his or her decision,” Sachs said, stressing that the primary purpose of licensure is to protect depositors and borrowers.