Batapa-Sigue: No need for P1.7B loan

Posted by watchmen
December 3, 2018
Posted in HEADLINE

By Dominique Gabriel G. Bañaga


Candidate for Bacolod City mayor, former City Councilor Jocelle Batapa-Sigue, said the P1.7 billion loan the city government plans to borrow from the Development Bank of the Philippines is unnecessary.

In a radio interview over the weekend, Batapa-Sigue called the timing for the city government’s plan to borrow the loan “off,” saying it should be pursued after the May 2019 midterm elections.

According to the former city councilor, the city only needs to manage the budget carefully.

One example Batapa-Sigue cited was the P400 million fund for garbage disposal and the P500,000 fund for the General Services Office.

She added, based on an informal survey and coordination with local residents, the Bacolod MassKara Coliseum was not among the 20 most-needed projects.

Last week, 11 city councilors voted to give Bacolod City Mayor Evelio Leonardia the authority to sign the hold deposit agreement and loan term agreement, along approving the borrowing ordinance prescribed by the Bangko Sentral ng Pilipinas.

Meanwhile, City Councilor Wilson Gamboa, Jr. voted against the measure, saying the loan requirement approval was “railroaded;” while fellow City Councilor Ricardo Tan said he supported the P1.7 billion loan, but expressed skepticism around the said coliseum project, which is earmarked at P800 million./DGB, WDJ


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