‘Chan­nel P800M coli­seum bud­get to le­git­i­mate needs of Ba­colod­nons’

Sun Star Bacolod - - Top Stories - BY CARLA N. CAÑET

BA­COLOD City Coun­cilor Wil­son Gam­boa Jr. said the city gov­ern­ment of Ba­colod should have chan­nelled the P800 mil­lion bud­get for the Masskara Coli­seum to the le­git­i­mate needs of Ba­colod­nons.

These are hos­pi­tal, reha- bil­i­ta­tion of ma­jor pub­lic mar­kets and con­struc­tion of satel­lite mar­kets, among oth­ers, he said.

The P800 mil­lion will form a ma­jor part of the P1.7 bil­lion loan to be availed by the City Gov­ern­ment of Ba­colod from the De­vel­op­ment Bank of the Philip­pines, which is payable within 15 years or un­til 2033, he added.

The de­ci­sion to avail a huge loan will surely tie the peo­ple of Ba­colod and the city gov­ern­ment to se­ri­ous in­debt­ed­ness to the point of fi­nan­cially drown­ing the city, he said.

Gam­boa said the rec­om­men­da­tion by the Sang­gu­ni­ang Pan­lung­sod com­mit­tee on fi­nance was ap­par­ently in­com­plete as it did not in­clude the de­tailed project iden­ti­fi­ca­tion out of the more than eight projects sug­gested dur­ing their pub­lic hear­ing. It only gave the city mayor a blan­ket au­thor­ity to sign the pro­posed loan agree­ment with DBP with­out the needed project iden­ti­fi­ca­tion, he added.

He said they rail­roaded the process by un­wisely ap­prov­ing P1.7 bil­lion loan.

Ear­lier, Coun­cilor Cae­sar Distrito, chair­man of the SP com­mit­tee on fi­nance and ap­pro­pri­a­tion, on his Face­book ac­count, stressed that the loan had been dis­cussed thor­oughly, ex­ten­sively and fol­lowed all the pro­cesses.*

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