D-Day for prov'l Treasurer as SP awaits official say on Iloilo's financial health
How healthy or unhealthy is the financial state of the Provincial of Government of Iloilo? At the end of the day, the Ilonggo community may have its answers.
This, as members of the 9th Iloilo Sanggunian Panlalawigan (SP) will hear today the report of the Provincial Treasurer following last week's privilege speech of First District Board Member Richard Garin.
Garin in a call for status report sought the financial condition of Iloilo saying such will "allow members of this body to diagnose the financial health of the province in order to aid us in the coming up with sound, feasible, concrete and plausible plans of action for the welfare of this province."
A total of three office chiefs of major departments in the Provincial Government were requested to appear before the SP body. Expected today in the SP's regular session is Provincial Treasurer Melba Sullivan though The News Today (TNT) learned that similar invites were also sent to Provincial Accountant Lyd Tupas and Provincial Budget Officer Elena Lim.
"When the cards are laid on the table, it is the only time that we will know how to deal with the hand that is dealt to us. Governance is not high-stakes gambling. We cannot afford to put up for stakes public funds," Board Member Garin said while saying, "For the truth is, this province will only be as good as where our financial resources can bring us."
Included as today's "Business for Third Reading," Provincial Treasurer Sullivan will have her moment before the SP body as a review is made on last week's approved resolution.
Incidentally, a presentation will also be made on yet another major money matter for the Provincial Government.
Severo Leagogo, Senior Vice President of the Philippine Veterans Bank will explain to the board members the planned P350 million loan, another first in the history of the Iloilo Provincial Government. And it does not stop there.
Leagogo will also present to the SP body the proposed "take out" of all existing and outstanding loans of the province with another government bank, the Land Bank of the Philippines (LBP). On record is over P215 million in outstanding loans to LBP that if approved, the Philippine Veterans Bank want to consolidate and be made payable to them.