A total of P599,682,246 is due to the provincial government, 22 towns and 10 cities of Negros Occidental, from the unreleased Internal Revenue Allotment for 2000-2001, Gov. Joseph Marañon said yesterday.

Marañon met with the city mayors yesterday to discuss the possibility of their collectively availing of a straight loan from the bank using their the IRA due them as guarantee of payment.

"If we go for a straight loan we can get the full value of our money," he said.

If the LGUs monetize the IRA amount due them 30 percent will be withheld by the banks, he said.

The amounts availed of will be used for social services and infrastructure projects, he said.

The unreleased IRA due the Negros Occidental provincial government is P112,448.056.

The amounts due the municipalities is P111.4 million broken down as follows: Binalbagan - P5,260,148, Calatrava - P7,763,374, Candoni - P2,968,397, Cauayan - P8,723,872, Enrique B Magalona - 4,890,536, Escalante - P6,854,504;

Himamaylan - P7,918,677, Hinigaran - P6,149,884, Hinoba-an - P5,532,293, Ilog - P5,069,899, Isabela - P4,879,350, La Castellana - P5,564,923, Manapla - P4,264,458, Moises Padilla - P3,619,241;

Murcia - P5,749,506, Pontevedra - P4,148,095, Pulupandan - P2,628,186, Salvador Benedicto - P2,903,114, San Enrique - P2,354,198, Sipalay - P7,098,142, Toboso - P3,966,068, and Valladolid - P3,148,898.

The amount due the cities is Bacolod - P57,745,805, Bago - P40,509,659, Cadiz - 42,426,258, Kabankalan - P52,853,936, La Carlota - P22,548,579, San Carlos - P39,404,875, Silay - P32,166,203, Sagay - P37,284,396, Talisay - P26,256,263, and Victorias - P24,577,348.*CPG

back to top