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    NEWS HUNT EXPRESS

    Allways With You

    Biñan City lawmaker seeks other options for government programs

    Bynewshuntexpress

    Sep 30, 2022


    BIÑAN City Rep. Marlyn “Len” Alonte said the government should maximize existing laws and regulations to provide funds for government programs. In a statement issued today, October 1, Alonte, vice chairman of the House Committee on Appropriations, pointed out alternatives that the national government and “financially-able” local government units can take to maximize their budgeting priorities and enable them to more efficiently deliver services to the people. Alonte said the government could take at least five steps which include maximizing the current “Build Operate Transfer” laws and regulations for which the National Economic and Development Authority is crafting new rules; amending the Public Service Act, which opens many sectors to 100-percent foreign ownership; and using incentives managed by the Fiscal Incentives Review Board. “Among the last resort, options would be the issuance of bonds with maturities of 20 to 30 years for long-term capital outlays and developmental funding, but this is also one way to attract private investors to finance what the government cannot in the short to medium-term,” Alonte added. The lawmaker also suggested securing technical grants and concessional loans from the Asian Development Bank, other multilateral lenders and other government foreign aid agencies. “All these options have existing legal bases in laws and regulations which have yet to be maximized,” Alonte pointed out.

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