Funding The SONA Promises

Thursday, August 2, 2007 | posted in , , , | 1 comments

From Senator Mar Roxas' Official Website

The President listed the following as sources of funds for all the projects enumerated in her State of the Nation Address:

• P1 trillion from state revenues, with tax reforms and firm orders to BIR and Customs to hit their targets.”

• P300 Billion from state corporations.”

• The balance from government financial institutions, private sector investments, local government equity, and our bilateral and multilateral partners.”

Other than this vague list and a new plan to use Information Technology to increase tax collection, the President barely addressed the problem of revenue collections in her State of the Nation Address.

Against this backdrop, Fitch, an international credit rating agency, released its first-quarter report today (Tuesday) citing the government’s poor performance in tax collections and expressed doubt that a P63-billion revenue shortfall target for the year could be met.

The people, therefore, deserve to know the full details of the Finance Department’s plan to meet its revenue shortfalls. Which “prime” government assets will be sold, for how much and on what terms? Who are the prospective buyers? Will the bidding processes be cut short, just to meet deadlines?

Huwag tayong pumayag na ang mga pag-aari ng gobyerno na may pinakamalaking pakinabang sa hinaharap ay mapapabilang sa “ukay-ukay” na ito ng DoF para lamang matapalan ang kakulangan ng koleksyon ng BIR at BoC.

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Kevin Ray N. Chua

Kevin Ray N. Chua is a 19 year-old blogger from Cebu City, Philippines and an IT Student at Cebu Institute of Technology.

He is currently the Secretary General of the CIT-SSG.

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on August 5, 2007 at 12:26 AM  

The Roxas Presidency tells us all what to expect of his grandson's if he ever get elected God forbids.

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