CAGAYAN DE ORO CITY, March 1 (PIA) – The Department of Labor and Employment (DOLE) Regional Office 10 has released a livelihood financial assistance of P298,000 to Balite 2 SEAK Women’s Consumers Cooperative (BSWCC) under the DOLE Integrated Livelihood Program (DILP).
The DILP is DOLE’s contribution to the Aquino administration’s agenda of reducing poverty through the promotion of livelihood and entrepreneurship and transforming them into community enterprises through convergence of services.
The BSWCC is a women’s cooperative in Sagay, Camiguin province engaged in squid drying and catching. It started its operation in January, this year.
In its initial operation, the group has already employed ten women-members for the squid drying, earning P20 for every 100 pieces of fresh squids. The husbands of the women-members operate the five pump boats in catching squids and receive two-thirds (2/3) of its earnings.
After a month of operation, the group has harvested 500 kilos of fresh squid sold at P35 per kilo to the women-members. After the drying process, the squid were sold to the local market in the entire province at P500 per kilo.
BSWCC Project Manager Adelina Fabela is happy to note that the cooperative has already earned a net income of P14,900 or a total profit approximately 45.84 percent from its expenses of P17,500 for the labor and capital.
Sagay municipality is currently the only major producer of dried squid in the province.
BSWCC President Maricel S. Uayan thanked DOLE-10 for the livelihood and employment opportunities they can generate from the assistance.
Through the financial assistance, the cooperative can purchase weighing scale, freezer, five units of pump boats, squid flashers, jiggers, flashlights, knives, styrofoam and big-sized cellophanes, fishing nets, containers, and starting capital in buying fresh squid. (DOLE-10/PIA10)