The Bacolod City government is proposing an "upward adjustment", or increase, in compensation for the management and operation of the BREDCO port to P17.5 million annually from the present P800,000.

Secretary to the Mayor Roger Balo, spokesman of the city negotiating panel, said yesterday the proposed amount, which is 21.5 times the original annual rental, was based on the gross income of the port from the records of the Philippine Ports Authority.

He said all the members of the executive-legislative panel signed the proposal, except for Councilor Elmer Sy who said he has yet to check the figures. BREDCO representative Roseller Maalat said he will submit their counter proposal in their next meeting on Friday, Balo said.

PLDT reports
record profit

MANILA -- Philippine Long Distance Telephone, the country's largest telecommunications firm, reported Monday that 2005 net pro

fits rose to a record P34 billion, up 22 percent from 2004. The earnings, ahead of analysts' forecasts, benefited from "foreign exchange translations gains and certain deferred tax assets," the company said in a statement.

Analysts were expecting full-year net profit to come in between 30.73 billion and P32.4 billion.

Consolidated service revenues rose five percent in 2005 to P121 billion, the PLDT statement said.

Reservations for Panaad
kiosks start tomorrow

Reservations for kiosk rentals in the 2006 Panaad sa Negros Festival from April 22 to 30 will be announced starting tomorrow.

A press release from Park Administrator Ian de Ramos said that reservations can be made at the Panaad Park Administration Office.

Rental is limited to a maximum of two kiosks per investor and full payment is required upon reservation. For the nine-day festival, rental fee is P5,000 for food and dry goods, and for garden show kiosks, P2,000.

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