NATIONALIST People’s Coalition–Grupo Progreso (NPC-GP) scored candidates from the other camp, particularly former congressman Monico Puentevella for giving misleading information on the outstanding loan the City Government of Bacolod under the administration of Bacolod City Mayor Evelio R. Leonardia.
The NPC-GP stated that Puentevella has misled the public by disseminating lies through different media forums and political caucus saying the city government under the administration of Mayor Leonardia has an outstanding loan of P1.4 billion as of the year 2013, thus sacrificing the delivery of basic services.
The City Government only availed a total of P647,731,157 from three financial institutions namely Philippine National Bank, Land Bank of the Philippines, and Philippine Veterans Bank.
Based on official records, the estimated loan balance of the city plus interest is only P1,027,971,717.20 (P1.027 outstanding loan payable up to the year 2022.
The local political party insisted that the City Government had already started paying its obligation to the different financial institution therefore the loan balance has been decreased.
Out of the P647,731,547.12 actual principal loan availed from the PNB, DBP and PVB, the city government had already paid the principal loan as of December 31 2012 by P167,188,815.12 which means the total outstanding loan of the city is currently pegged at P480,542,732.05 excluding interest, the GP stated.
The loan was utilized by the City Government to finance projects that helped sustained the growth and progress of Bacolod such as the New Government Center, Sanitary Land Fill, the acquisition of Arao property and the development of Granada-Vista Alegre Relocation site among others.
“These funds went to good use and never misappropriated or deposited to any personal bank account contrary to what the former congressman of Bacolod had done to the P50.5 million funds from the Philippine Sports Commission for the Bacolod SEA Games Organizing Committee (BASOC) that he deposited to his personal bank account. (CNC)
