MANILA -- After failing to meet targets for the past months, the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) got back on their feet by exceeding collection targets for January.

Deputy presidential spokesperson Ricardo Saludo said they are commending this development, asking both agencies to maintain their efforts throughout the year.

“We urge them to sustain their efforts through the year, so that our development and reconstruction programs will proceed without delay, and business confidence will continue rising and boosting investment and jobs,” he said.

Saludo said fiscal reforms and discipline are one of the legacies President Gloria Macapagal-Arroyo would want to leave.

Through this, peso has strengthened, kept interest rates down and laid stable foundations for economic advancement, he added.

Several months last year, the BIR and the BOC have been falling short of their respective collection targets due to weak economic environment and the successive calamities that hit the country.

Another development that delighted Malacanang was the passage of the Corporate Recovery Bill.

Saludo said it is a timely measure that will help preserve jobs and growth amid business troubles caused by the global recession and natural calamities.

He said President Arroyo will still have to study the legislation but they are positive that this proposed law has its chances to be signed.

“We fully agree with the intent our lawmakers to widen the options for troubled enterprises seeking a way forward from their predicaments which would preserve enterprise vale, provide for the welfare of workers, and restore competitiveness and profitability where possible.” (Jill Beltran/Sunnex)