City eyes P32-M IRA share for local projects
The city government is eyeing its internal revenue allotment (IRA) share amounting to more than P32 million covering 2001-2004 for local development projects here.
The Department of Budget and Management (DBM) recently announced the release in 2009 of the IRA share of all local government units in the country covering the period which was put on hold during the time of former President Joseph Estrada until 2004.
Mayor Jerry P. Treñas said he will request the Land Bank of the Philippines (LBP) to monetize the city's IRA share that could be used as loan collateral to advance funding for development projects within 2008.
This will be the second time the LBP could monetize the IRA share of the city. If not, the share could be used as collateral for various development projects, especially in the barangays, Treñas said.
The city chief executive also assured all barangays here that they will have a share of the IRA to fund all their approved development projects. (PNA)