Capitol eyes P12 billion income for 2020

By: Morexette Marie B. Erram January 10,2020 - 02:58 PM

CEBU City, Philippines — The Cebu Provincial government is targeting a P12-billion income for the year 2020.

Lawyer Roy Salubre, Cebu provincial treasurer, said the estimated P12-billion target as income would be enough to cover the P12-billion budget the Capitol had set for this year. 

“We are planning to target P12-billion as our income for 2020 since the budget for this year is P12-billion,” said Salubre. 

Read more: P12 B Capitol budget awaits Gwen’s signature

Last December 2019, the Provincial Board (PB) approved the Capitol’s proposal to set aside P12-billion as their budget for 2020.

Around 52 percent of the funds will be allocated to social services that include those for senior citizens, persons with disabilities to name some. 

Salubre also said they were confident they could meet the target, citing that the Capitol was expected to receive P4-billion worth of Internal Revenue Allotment from the national government.

“We have P4-billion from IRA from the national government. From there, we are expected to collect around P7 billion to P8 billion more to meet the target,” said Salubre. 

“We will collect whatever we can collect from all sources of funds, and all remedies made available by law,” he added. 

The national government allocates shares of its revenues to the local government units. These shares, in turn, are called IRA. 

The Provincial Treasurer said that aside from IRA, the top sources of funds for the provincial government would be the real estate property taxes, and collections from the district hospitals.

Salubre also said that they would be expecting to collect P200 million more once their plans to impose taxes on quarry operators would be implemented. /dbs

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TAGS: budget, Gwen, IRA, P12 billion, Provincial Board, Salubre

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