Friday, May 16, 2008 Fast-track super region projects, Palace urges
MALACAÑANG has directed agencies to accelerate infrastructure projects under the "super regions".
President Gloria Macagapal-Arroyo said "super regions" help to sustain growth that has been weighing heavily on two of the economy's key drivers -- exports and remittances from overseas Filipino workers (OFWs).
President Arroyo has asked the Budget department to coordinate with the implementing agencies for the prompt release of funds for the "super regions" projects.
Recently, the Pro-Performance System and the Procurement Transparency group formed in September 2007 has started monitoring, releasing advisories and remedial action for projects that encounter problems.
Malacañang has allotted P156.6 billion for infrastructure spending this year, or more than P22.6 billion allotted last year.
The country posted a 7.5 percent economic growth in the last quarter of 2007, though both local and foreign analysts have warned against over dependence on OFW remittances, which make the country even more vulnerable to the fortunes of host economies.
Data from the Bangko Sentral ng Pilipinas showed that remittances of OFWs coursed through banks last August exceeded the one billion dollar mark, reaching US$ 1.2 billion and bringing the year-to-date level to US$ 9.3 billion.
Administrative Order 206 ordered the so-called Super Region Champions to intensify infrastructure monitoring and fast track construction while ensuring transparency.
The Super Regions Champions consist of Subic-Clark Alliance for Development Council Chairman Edgardo Pamintuan (Luzon Urban Beltway), Agriculture Secretary Arthur Yap (North Luzon Agribusiness Quadrangle), Tourism Secretary Joseph "Ace" Durano (Central Philippines), Presidential Adviser on Peace Process Jesus Dureza (Mindanao) and Commission on Information and Communications Technology Chairman Rey Chua (Cyber corridor). (Press release)
