NextGen Day

BAGUIO CITY, Philippines – Apart from relying on taxes for funding, the local government is searching for additional ways to create revenue for development initiatives.

In an interview on Monday, Aileen Refuerzo, the city’s chief information officer, stated, “The local government is considering multiple projects that will allow it to collect roughly PHP600 million per year.”

A parking facility, an intermodal transport terminal, market development, and a digital transformation center, she said, are among the projects that might provide the city government with a continuous stream of revenue.

The officer explained that, in the midst of the pandemic, the city government approved an increase in the fair market value of real properties, which would raise tax dues, something that several sectors have criticized as “untimely,” given that many, if not all, property owners have been financially impacted by the pandemic.

Officials have stated that the economic impact of the coronavirus disease 2019 (Covid-19) pandemic will be felt for the next 40 years, and that depending just on taxes will not be sufficient.

She stated that the local government saw these entrepreneurial ventures as a way to acquire revenue, particularly since several major projects were already in the works.

The local administration is also building a modern laboratory to test and respond to future pandemics like the Covid-19, which brought the globe to a halt.

The projects, according to the official, will not only increase income but also provide roughly 4,000 job possibilities, helping to boost the city’s economy out of its pandemic-induced downturn.

Aside from internally and externally produced revenue and donations, the municipal government is also interested in public-private partnerships and bringing in investors to fund civic initiatives.

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