Tuesday, July 08, 2008 City to press collection of BEZ share
THE City Government is not letting go of its shares in the operation of the Baguio Economic Zone (BEZ), despite President Gloria Macapagal - Arroyo's veto of the portion of the 2008 General Appropriations Act, which appropriated the amount.
This, as Vice Mayor Daniel Fariñas said the veto was due to a technicality, which could still be remedied.
The amount has been identified for the rehabilitation of the Athletic Bowl. "It is our dream to host big sports events (thus the need to remake it)," Fariñas said.
The city's bid of hosting big sports events has been impaired because facilities of the Athletic Bowl do not conform to international standards.
In the rehabilitation of Burnham Park, the Athletic Bowl was identified as a priority.
Last month, the President vetoed the P125 million tax shares from 1995 to 2002.
The P125,075,675 was reportedly passed via mere insertion, not a regular part of the budget.
Under budgeting procedures, the amount has to undergo a separate appropriation. (RO)
