Flashback November 27, 2000-2002

Lending activities down 15 percent[/B]

In what appears to be an alarming sign that the CNMI economy is yet to witness even the slightest growth, private banking institutions have cut down lending activities in the third quarter of the year by as much as 15 percent.

Overall amount of loan agreements approved by eight commercial and savings banks in the Northern Marianas shrunk by $44.5 million to $255.7 million in the third quarter of 2000 from $300.2 million of the same period last year.

According to a report prepared by Jesse Palacios of the commerce department’s Banking Division, only loan agreements with the Commonwealth government registered growth in the period under review.

A petition supporting the call of resignation or removal from office of Philippine President Joseph Estrada has been going around in the CNMI among overseas Filipino workers based here.

More than a thousand have reportedly signed the paper that began circulating immediately after the political crisis confronting the Estrada administration hit last month.

The one-page petition has sought support from the estimated 20,000 Filipino workers and residents on the islands for the mounting calls back home for their embattled president to step down.
[B] November 27, 2001

Fairness guaranteed in Eucon probe[/B]

The State Board of Regents Programs Committee will administer a fact-finding review on the Eucon International College.

Galvin Guerrero, the Programs Committee chair, disclosed yesterday that the probe is being conducted to guarantee due process for all parties concerned.

“To make sure that everyone is treated fairly,” said the BOR member.

The BOR Programs Committee met Friday with the labor department to tackle the fate of the three foreign students, who are clamoring to secure a student’s visa so they can pursue college education in the CNMI.

The Northern Marianas Housing Corporation is expecting $500,000 in additional revenue from the 50 more voucher certificates under the Section-8 it requested from the federal government.

If approved, the additional voucher requests made by the NMHC to the US Department of Housing and Urban Development will provide additional income for the Commonwealth government, NMHC Board Chair Juan S. Tenorio.

Tenorio said that there is an increasing number of request for three-bedroom houses from among Section 8 applicants, which rose from 95 last year to 165 this year.

Fewer holidays eyed[/B]

House Rep. Arnold I. Palacios last week floated legislation that proposes to reduce the number of legal holidays from 14 to 11, in a measure seen to save the government some $2 million per year.

The proposal, House Bill 13-218, seeks to merge celebrations of three legal holidays—Commonwealth Day, Columbus Day and Citizenship day—which, according to Palacios, are observed in the context of one common sentiment.

“It all really comes down to the same celebration [which is the formation of the] Covenant, [our achieving a Commonwealth status and attaining] U.S. citizenships,” explained Palacios.

Covenant Day is proposed to replace the three legal holidays that would be eliminated from the legal holiday calendar.