Capitol's P162.5M 'Investment Plan' earmarks over P39M for loan dues
Over P162.5 million in planned Capitol spending under the Annual Investment Plan (AIP) has been approved where at least P39 million will go to payment of bank loans used for the construction of the new Capitol and purchase of heavy equipment.
The bulk of the approved AIP budget at over P51.9 million will go though to "Social Services Sector" particularly "Priority Barangay-Based Social Development Assistance Program" with P17 million up for spending.
"General Public Services" got the second highest budget allocation of over P43.6 million where P20 million will be spent for the province's "Community Direct Action Program" also dubbed as the local "pork barrel" fund.
From the P43.6 million, development initiatives by Local Development Councils will get the least budget set at P120,000 or not even one percent of the total allocation.
With the approval comes the expected rehabilitation of provincial roads and "bridge development" of P7 million alongside P400,000 for the Capitol's Sports Development Programs.
Further still, over still P28.9 million has been earmarked for the "Economic Sector" with watershed protection and rehabilitation program getting the most allocation of P3 million.
The AIP as contained in Resolution No. 2006-180 was duly indorsed by the Sangguniang Panlalawigan to Governor Niel Tupas and got an easy nod "geared towards the achievement of the priority governance agenda.."
As designed, the planned expenditures here is expected to enhance agriculture and aquaculture production, environmental protection and conservation. Further still comes Capitol's promise of "peace and order, increased job generation through entrepreneurship development, sustain effective and efficient health and welfare services, education, skills development, adoption of state-of the art information technology, energize the Iloilo Provincial Organization and broaden the participation of non-governmental organizations, civil society association and private sector."