Dinagyang 2007 suffers financial constraints
With only two weeks left, Iloilo Dinagyang Foundation Inc. (IDFI) is now hounded with a question whether they can produce the P12 million budget for this year's Dinagyang Festival. This year's budget for Dinagyang is P2 million higher than last year's P10 million.
In earlier media briefings, it was learned that the foundation has generated P9 million in “pledges.” They are still waiting for the sponsors to convert the pledges into cash assistance.
The foundation suffered financial constraint after its main sponsor Smart Telecommunications only pledged P2 million for this year's festivity. Globe will also give P2 million financial assistance to the foundation. IDFI expects to receive the pledges two weeks before the celebration. However, the financial help from the two telecommunication companies is not enough to support and ensure the success of the festival.
Last year, Smart Telecoms gave P8 million for the festivity. With the P7 million reduction of financial help from the giant telecommunication company, the foundation as well as the city government are working double time to cope with the financial constraint which could affect the celebration if not solved the soonest time possible.
With the budget deficit, the city government has already released P3 million for the Dinagyang Festival. This is much higher compared to last year where the city government only alloted P1 million. Iloilo City Representative Raul Gonzalez Jr. will also give P500,000.
To lighten the financial woes of the city, the Department of Tourism (DoT) pledged to extend P1 million for the celebration. The release of funds is being worked out. The funds is from the DOT national office. In the region, DoT Regional Director Edwin Trompeta likewise pledged to give P180,000.