THE Provincial Government of Negros Occidental is eyeing P1.2 billion worth of loan with the Land Bank of the Philippines (LBP) to fund various infrastructure projects in the province.
The bulk of the amount is earmarked for the construction of the new Provincial Administration Center (PAC) in Bacolod City, which is worth P900 million.
The P125 million will be allocated for the renovation of Eleuterio Decena Memorial District Hospital in Hinoba-an town, while the remaining P175 million will fund the purchase of various facilities and equipment for Mambukal Hotel and Convention Center and Tourist Lodge in Murcia and Negros First Hotel and Negros Pala-Pala and Food Terminal in Bacolod City.
Second District Board Member Salvador Escalante Jr., chairman of the Provincial Council committee on appropriations, budget and finance, recalled that the province already earmarked about P200 million for the renovation of PAC building.
The figure forms part of the P500, 000 million worth of four infrastructure projects also funded through a loan acquired by the Provincial Government at LBP in 2016.
Escalante, however, said there is a need to look for another area for PAC building to give way for the development of P1.7 billion worth of Capitol Commercial Center.
The construction of a 10-storey structure is through the P4 (public-private partnership for the people) project which the province will venture with Dynamic Builders and Construction Company Inc.
“So we will not spend the P200 million, instead we will acquire a new loan worth P900 million for the construction of a brand new PAC building,” he added.
The renovation, meanwhile, of the district hospital in Hinoba-an is part of the province’s commitment to Japanese firm Tsunishi Heavy Industries, which is building a multi-billion ship breaking and recycling facility at the town.
The renovation of the hospital will address the health requirement of the people there, whose number is expected increase due to the said development, the official said, as he pointed out that the existing facility really needs repair.
The interest for the loan will still range from three to four percent.
Escalante said the SP is set to take up the loan proposal as well as the provision of authority to Governor Alfredo Marañon Jr. to negotiate and enter into a term loan agreement with LBP during next week’s session.
The Provincial Board will invite Provincial Engineer Ernie Mapa to explain the details of these projects, which are targeted to start before the election banning period in March next year.
Supplemental budget
Moreover, the council approved on Wednesday, September 5, two supplemental budget requests totaling about P17.6 million.
It first approved the 2018 General Fund Supplemental Budget No. 8 amounting to about P10 million.
The amount will fund various items necessary for the operations of departments and offices of the provincial government.
The other one is the 2018 Supplement Budget No. 3 of the Economic Enterprise Development Department worth about P7.6 million earmarked for the different use of the said department, including the renovation of some facilities at Mambukal Mountain Resort.