Capitol Sets Aside PHP3.6B for 2017 Annual Investment Program

The Cebu Provincial Government has allocated some PHP3.6 billion for the province’s annual investment program (AIP) for next year, an official said.

Cebu Provincial Budget Officer Danilo Rodas said the AIP for next year has been approved by the Cebu Provincial Board.

Rodas said the AIP approval was important because it is required by the Department of Budget and Management (DBM).

Rodas said previous budgets that he submitted to the DBM for review were returned because these were not supported by an AIP.

The AIP is composed of the 20 percent development fund amounting to PHP583 million, PHP166-million Cebu Provincial Disaster Risk Reduction Management plan and PHP2.874 billion for the operational projects or activities of different offices.

Rodas said the 2017 AIP includes PHP74 million for the payment of the loan the provincial government took to buy heavy equipment.

Cebu Governor Hilario Davide III signed a loan agreement with the Land Bank of the Philippines (LBP) last July for the purchase of PHP200 million worth of equipment.

The equipment to be purchased include a hydraulic excavator, crawler tractor, wheel loader, motor grader, vibratory roller, forklift, man lift, self loader, dump truck, water truck and boom truck.

These will be used by the Cebu Provincial Engineering Office for the construction of provincial roads and road maintenance. (PNA) LAP/EB/EDS