Build, build, build

It’s good to talk about a fourth bridge that would connect Cebu mainland to the island of Mactan. That shows foresight. But as they say talk is cheap because the expensive phase is implementation. The Metro Cebu Development Coordinating Board, for example, is not only talking about a fourth bridge but other major infrastructure projects as well. That would cost us billions of pesos.

Early on, a sense of confidence pervaded when groups like the Board talk about major infra projects considering the Duterte administration’s Build, Build, Build program. The promise was to look for ways to fund as many infra projects as possible in what could be labeled as an infra-building storm. The confidence has been tempered by reality.

Even before the Build, Build, Build program could fly, two things happened. One, the main source of funding for the program, China, may no longer be agog about allowing countries to borrow money considering its experience with other borrowers. There’s only a limited amount of money to loan even how rich a country is. Allowing a country to borrow large amounts of money that it couldn’t pay is never a good economic policy.

Second is that the country is reeling from the revenue-generation efforts from its economic managers. They may deny this but the truth is the runaway inflation that hit us in the past several months is partly a product of the imposition of new taxes. The economy has not been able to handle the burden. That is precisely the reason why the economic managers are now hesitant to impose additional taxes to generate funds for the government’s Build, Build, Build program.

That means the planned infrastructure-building storm by the Duterte administration may not happen considering the limited time to generate revenues and implement the projects. There’s only a little more than three years to do it. Besides, with the 2019 elections already around the bend, the imposition of new taxes would be bad for the administration senatorial candidates’ electoral campaign.

But I still hope some major infra projects can be implemented in Cebu, especially roads. Only few policy makers are talking about the proposed coastal road to south Cebu now but it is a very important project considering the traffic gridlocks created ever so often there. Those reclamation projects can wait. The need for additional roads must be addressed first.

I mean that fourth bridge can wait. While it may be needed in the future, the more important thing is to complete the third bridge first. I often pass the South Road Properties and feel excitement every time I see the pace of the work there. I would even try to picture the sea, Shell Island and a portion of Mactan island already with the bridge spanning them.

I am not one of those who tend to blame the increase in the number of vehicles for our traffic woes. When the economy grows, the capacity to buy vehicles is enhanced. The burden is therefore on the government to build infra that would answer for that growth. The key is to be selective and ensure that projects with the biggest impact would be built.

The promise was to look for ways to fund as many infra projects as possible in what could be labeled as an infra-building storm. The confidence has been tempered by reality.