Rama 'to give' P5.4M to CIPC-A A +A
Saturday, September 14, 2013
CEBU City Mayor Michael Rama yesterday said he will release this year’s P5.4-million financial assistance to the Cebu Investment Promotions Center (CIPC).
But CIPC, he said, should first resolve its internal conflict.
The financial assistance to CIPC will be taken from P5.19-billion budget of the City Government for 2013.
In a news conference yesterday, Rama said there is a “trust and confidence” issue between CIPC managing director Joel Mari Yu and the center’s board of trustees (BOT).
The conflict led the mass resignation of five BOT members, he said.
Those who resigned from the CIPC BOT were Geronimo Sta. Ana (chairman), Augusto Go (vice chairman), Sabino Dapat (treasurer), Rogelio Lim (trustee) and Enrique Benedicto (trustee).
Their resignation was filed before the Securities and Exchange Commission last June 28 and became effective June 30.
Sta. Ana earlier said their resignation was a form of courtesy to Rama, who began his second term on July 1. He said the BOT wanted to give stakeholders of CIPC a chance to appoint new BOT members.
But Mayor Rama said CIPC has an internal problem. “They (CIPC) should solve it internally,” he added without giving details on the problem.
“It cannot be a problem of trust and confidence with me because I am not even a member of the board,” Rama said.
“Trust and confidence is very important. If the members of the board do not have trust and confidence with CIPC, how can I, as a mayor, give trust and confidence to CIPC,” he said.
Rama made clear yesterday that he has no intention of dissolving CIPC, contrary to the belief of his critics. He said he cannot make the move because he is not a member of the BOT.
Besides, he said, he still wants the CIPC to be around to promote Cebu. Although, he said, the CIPC will no longer be involved in promoting the 300-hectare South Road Properties (SRP).
He said the marketing of the SRP will be handled by the SRP Management Office headed by Roberto Varquez.
Rama said he created the SRP Management Office because it was recommended by a study conducted by the Nomura Research Institute, commissioned by the Japan International Cooperation Agency.
Published in the Sun.Star Cebu newspaper on September 14, 2013.