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The Php 105 million: Boon or Bane?

The approval of the governor-initiated Php 105 million loan by the Sangguniang Panlalawigan can be construed as Christmas gift of the legislative body to the executive branch.

Probably in the spirit of the Christmas season, the SP headed by Vice Gov. Alfred Aquino decided to approve almost the entire amount of Php 111 million.

Imagine if as originally planned, only Php 56 million was allowed, the administration would suffer a substantial setback in terms of fund-sourcing for its Real Property Tax Administration Enhancement Program (RPTAEP) etc.

Animosities and bad blood were avoided. The executive, and the legislative had “meeting of minds”.

Consequently, Gov. Joseph C. Cua and his economic/financial managers are now grinning from ear to ear. Now it would be safe to say that whatever Gov. Cua wants, Cua gets.

History will tell, however, whether the decision to avail said loan by the provincial government is a good decision or not. For the record, it was only PBM Shirly A. Abundo who objected to such substantial loan.

The workaholic and approachable legislator have yet to see a feasibility study which according to her is very important..

Accordingly, almost all of the PBMs have capitulated to the wishes of the executive department.

The way it seems, the fiscalizing function of the SP had been nipped-in-the-bud ab initio. Majority of the SP members are pro-administration. Hence, the smooth sailing of the Cua administration.

Well, as long as it is for the good of the province, no problem. Some quarters, however, are apprehensive of such multi-million-peso loan.

Successful or not, the province will have to shoulder the millions of pesos for its principal loan and interests.

The bottom-line is the 10-year period of payments. “Tapos na ang term of office ni Gov. Cua, assuming that he can serve for three terms, patuloy pa rin magbabayad ang provincial government,” one observer said in Taglish.

Tapos na ang term of office ng mga PBMs kasama na si Vice Gov. Aquino, tuloy pa rin ang financial obligation ng provincial government,” the man added.

With the IRA to be used as guarantee, the general public hopes and prays that the financial managers and technocrats in the Capitol will not bungle in their decision.

Otherwise, woe unto the persons responsible for such decision to avail of multi-million loan.

Nevertheless, optimist that we are, this publication joins the thousands of taxpayers who wish our local leaders the best of luck in their attempt to chart a progressive island province.

Merry Christmas and Prosperous New Year KAPERYODIKO!

Source: Bicol Peryodiko Editorial

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