A stop to borrowing

Filed under One On One by Pangasinan Today on 19-03-2008

 By ROLAND A. HIDALGO

 Publisher

 

WHEN Sixth District Provincial Board Member Alfonso C. Bince, Jr. said that the province need not borrow money to undertake its most immediate projects, the officer sounded credible enough as he presented a series of facts that could justify his opinion.

 

First among the particulars which he spoke of to support his view is the fact that the province gets a share of P900 million as internal revenue allotment (IRA) from the national government funds.

 

Another factor which the board member presented is the opportunity that the provincial government earns another P300 million as tax revenues through the collection program of the provincial treasurer in coordination with bursar officers from all municipalities in the province.

 

These alone, according to Board Member Bince, is an indication that the provincial government has money in its coffers that it could use to finance projects, after all, those which require bigger funds are being supported through sources from national funds, among others.

 

In another development, the provincial government, through the reigns of former Governor Victor E. Agbayani, succeeded in obtaining a P300-million loan from the Land Bank of the Philippines (LBP).

 

The loan proceeds have been used to support the implementation of various programs.

 

At present, the provincial government is still paying amortizations on the borrowed money.

 

Considering this, it is not wise for the provincial government to obtain another loan when it still has to settle in full, an existing loan that eats up a big portion of the provincial budget.

 

At any rate, Board Member Bince is just exercising his rights, as a member of the Sangguniang Panlalawigan (SP) and as a resident of the province, when he spoke of his sentiments over the proposed borrowing in the amount of P950 million which Governor Amado T. Espino wants to realize.

 

What have you to say about this?

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Can you imagine seeing former House Speaker Jose C. De Venecia, Jr. praying hard during the Holy Week?

And what could be the things he might be asking God to grant him?

 

At the moment, the ousted official, who remains as the representative of the Fourth District of Pangasinan in Congress, said he is wishing for the truth to emerge that could lead to solving the issue on the ZTE broadband deal which implicated him and caused his untimely ouster from his position as Speaker of the House.

 

He said he has seen the country with so much corruption taking place.

 

He claimed that there is so much deception, so much fraud and so much darkness.

 

Due to this, the former speaker said he would be praying for the disappearance of all evil forces that sow graft and corruption and cause controversies that lead to draining eventually, the coffers of the national government.

 

Don’t you think it is also time for us to join the solon and pray with him in asking God to disperse the bad forces that aggravate the country and its people?

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