Fire engulfs main public market of Ipil, Zamboanga Sibugay | ABS-CBN

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Fire engulfs main public market of Ipil, Zamboanga Sibugay

Fire engulfs main public market of Ipil, Zamboanga Sibugay

ABS-CBN News

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The main public market of Ipil town after it was ravaged by a fire. Photo courtesy of Arturo Dollesco
The main public market of Ipil town after it was ravaged by a fire. Photo courtesy of Arturo Dollesco


A fire engulfed the main public market of Ipil town in Zamboanga Sibugay late Friday night, with estimated initial damage reaching more than P16 million.

The local government of Ipil is scheduled to call a meeting Saturday to discuss the damage incurred in the fire in Barangay Don Andres.

At least 90 percent of the municipality's main public market was razed to the ground, according to a report submitted to the local government by Municipal Fire Marshall Inspector Percival Alar.

Alar said the estimated amount of damage may still rise, pending the affidavit of lessors in the area.

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Fire investigators are looking into electricity overload as one of the possible causes of the fire.

Alar also said that this has been the 3rd time that the same market was ravaged by fire since 2020.

Local officials are also set to discuss possible assistance to the affected vendors in the area.

—report from Jewel Reye

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Palace expects boost in PH investments after removal from dirty money ‘gray list’

Palace expects boost in PH investments after removal from dirty money ‘gray list’

Katrina Domingo,

ABS-CBN News

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Malacañang expects an increase in foreign direct investments after the Philippines was removed from the Financial Action Task Force’s (FATF) grey list earlier this week. 

The Philippines was removed from the list of nations flagged for weak anti-money laundering safeguards after the FATF acknowledged that the country was able to “meet the commitments in its action plan regarding the strategic deficiencies that the FATF identified in June 2021.”

“Our well-earned exit from the Financial Action Task Force’s (FATF) grey list boosts our drive to attract job-creating, growth-inducing foreign direct investments,” Executive Secretary Lucas Bersamin said in a statement.

“This seal of good financial housekeeping benefits overseas Filipinos as it would make cross-border transactions faster and cheaper as layers of compliance barriers are removed,” he said.

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Bersamin credited the country’s exit from the grey list to the “multiple moves made” the administration pushed to “finally dismantle structures that could be exploited by money launderers and terrorism financiers.”

“For so long, our investment attractiveness has been dragged down by this dirty money haven label,” the Executive Secretary said.

“This hard-fought administration win in its battle against money laundering will be preserved and protected through consistent compliance with global standards.”

The Anti-Money Laundering Council (AMLC) earlier said that “the exit will reduce international fund transfer requirements, benefitting Filipino individuals and businesses.”

Bangko Sentral ng Pilipinas (BSP) Governor and AMLC Chairman Eli Remolona, Jr. called the feat a result of “strong cooperation” between the government and the private sector.

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