banner

Bataan and Aklan top in DoF’s nationwide local income generation

Written by
  • Mar T. S.
  • 8 years ago

According to the DoF, seven in every 10 provinces have not fully developed their local revenue base therefore depending much on the national government allocations as bulk of their regular income. The DoF added that after more than 20 years of fiscal decentralization, locally sourced income still share very little to the annual regular income of provinces. The rest of the regular incomes are mandatory shares from the Internal Revenue Allotment [IRA] and other government revenues.

Based on DOF report, Bataan has an estimated ARI of P946,748,938 and national government allocation of P653,589,783 and was able to achieve an LSI  amounting to P293,159,155, gaining 31.0 percentage points share of LSI to ARI. 

Incumbent Governor Abet S. Garcia, was saying, however, that when he assumed the governorship of Bataan, he had no difficulty in running the financial affairs of the province due to the competent and effective management of his predecessor former governor Enrique “Tet” Garcia, now congressman of Bataan’s Second District.  The two Garcias are said to be financial management experts due to their track records for several years as local chief executives.

The Finance Department further stated that when Local Government Units [LGUs] collect low revenues, they fail to maximize their own revenue generation capacity to spend on basic services for their people. Local autonomy can be better served if LGUs become self-reliant communities.

Article Tags:
·
Article Categories:
News

Comments are closed.

Shares