Tell it to Sun.Star: Capitol’s assets

THE strength of the Cebu Provincial Government’s financial position is not a natural consequence of history or geography but is rather a result of well-thought of plans, decisions crafted and well-executed strategies.

We pursued the recovery of province-owned lands. The value of these lands that we had reverted to Capitol ownership contributed a lot to the Capitol’s assets.

Previously donated lands that we recovered by Garcia include the 81-hectare military camp in Apas, the 20-hectare Boy Scouts of the Philippines camp in Lahug, and the Department of Agriculture lot near the Capitol, among others.

We also engaged in wise investments that added to the Capitol’s assets and provided it shares in profits, such as the joint venture agreement with Ayala for the Carmen Bulk Water project, and the BTO (build transfer operate) agreement with Filinvest to build the P5-billion BPO Complex at the I.T. Park.

The CICC was also a plus to the Capitol’s assets, as well as the Balii property, which was bought at P400 per square meter but is now valued at a price of at least P2,000 per square meter.

We did not merely inherit value. We implemented strategies to increase Capitol’s assets and minimize liabilities. We kept the province debt-free. We recovered those lots and made wise investments.

However, the Davide administration is doing exactly the opposite. It is reducing our assets by selling or giving away lots, and increasing our liabilities by taking out loans. A glaring example is this P250-million loan for a highly questionable and controversial heavy equipment purchase.

Karon pa ko nakakita og bidding nga perde gana. Imbis ang mapildi kay maoy pinaka taas ug presyo mao naman hinuoy nidaog.

Provincial Accountant Marieto Ypil said in news reports that the Capitol’s P28-billion equity is largely due to the increase in the values of real properties in the province. On this, we agreed. But we also “ordered the re-appraisal. They never thought of it before.

As for Capitol spending, it was pointed out during the turnover ceremony with Davide III on June 2013 that:

--As of June 25, 2013, the Province had a total asset of P28 billion, P791.4 million cash in bank and a dollar account amounting to $517,728.36. This was compared to the June 30, 2004 statistics of P535 million total income, P1.6 billion cash and P5.2 billion total assets.

--Some P5.5 billion worth of infrastructure projects were implemented, such as 778 kilometers of provincial road asphalting, 97 concrete bridges, 74 kilometers of drainage systems, almost 2,000 classroom buildings, senior citizens buildings, birthing centers, barangay street lighting, hospitals, airport improvements and other buildings, which include the P836.5 million Cebu International Convention Center.

--It implemented the construction, rehabilitation, improvement and expansion of 73 water works systems in the province which amounted to P134.4 million and the development and operation of a sustainable bulk water supply.

--A total of P64.7 million was spent for the electrification of 400 sitios and utilization of solar-powered street lighting with the strong public-private partnerships in power and energy management with Kepco-Salcon Power Corp. (KSPC) and Global Business Power Plant.

--Aside from the improvements of district and provincial hospitals, birthing center facilities, technical and logistical assistance and medical assistance, a total of 400,000 families were enrolled under the Philhealth Indigency Program; 45,000 government employees were enrolled for Group Accident Insurance and the provincial government spent P268.4 million for Philhealth Insurance Premium.

--Apart from building classrooms, 600,000 students were provided with bags and school supplies amounting to P152.9 million, 400 scholars under the Cebu Tertiary Education Assistance Program and 200 under the Valedictorian and Salutatorian Scholarship Programs.

Other programs include Agri-Fishery and Food Production (P6.9 million); women, children and elderly (P51 million); tourism (P55 million); environment (P55 million); peace and order (2.6 million); and enterprise development (P110.3 million).

--We also extended P1.4 billion in financial assistance and multicabs to barangays and municipalities.

Ang akong gasto naay klarong nakita. We spent it on projects that were felt even by the Cebuanos in the remotest areas. Sila, way klarong nakita sa ilang gasto. Wa makatagamtam ang katawhan og matuod nga panerbisyo sa Kapitolyo. Hinuon, angamatay na gani ang mga bata sa district hospital kay way medisina. Asa man kaha gigasto ang kwarta sa kapitolyo? Sa mga consultants nga milyon milyon ang kontrata?--Rep. Gwendolyn Garcia


No stories found.

Just in

No stories found.

Branded Content

No stories found.
SunStar Publishing Inc.