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Gomez to House colleagues: Echo my call for PBBM to repeal EO on full devolution

Leyte Rep. Richard Gomez has sought a House probe on the “misalignment” in the National Tax Allotments (NTAs) of local government units and the funding requirements for full devolution of specific national public services.

Leyte Rep. Richard Gomez (Photo from Rep. Gomez via Facebook)

“Mahal

Leyte , Philippines , Ferdinand-bongbong-marcos-jr , Enrique-garcia-jr , Richard-gomez , Rodrigo-duterte , Hermilando-mandanas , Growth-equity-fund , Supreme-court-mandanas-garcia , National-tax-allotments-ntas , Facebook , High-court-mandanas-garcia

Generali Investments Slovenia agrees to sell stakes in three units

Generali Investments Slovenia, the manager of Generali Growth Equity Fund, signed an agreement to sell its stakes in Generali Investments GP 1, Generali In

Generali-growth-equity-fund , Investments-slovenia , Generali-investments , Generali-investments-slovenia , Growth-equity-fund ,

LGUs to receive nearly P1 trillion in 2023—DBM

The Department of Budget and Management (DBM) wants to strengthen the autonomy of local government units (LGUs) in delivering essential services to the public through higher funding allocation.

During the Development Budget Coordination Committee (DBCC) Senate briefing on Wednesday, Sept. 14,

Barangay , Pangasinan , Philippines , Juan-edgardo-sonny , Amenahf-pangandaman , Growth-equity-fund , Senate-committee-on , Mandanas-garcia-supreme-court , More-program , Government-support-fund , Barangay-development-program , National-expenditure-program

P962-B earmarked for LGUs support in 2023

Budget Secretary Amenah Pangandaman (File photo) MANILA - The Department of Budget Management (DBM) has allocated around PHP962.2 billion for the local government units (LGUs) nationwide in 2023 to boost their capabilities and enable them to fast-track the delivery of their basic services. The 2023 budget plan for LGUs represents around 18.3 percent of the proposed PHP5.268-trillion national budget for next year, the DBM said in a press statement on Wednesday. The DBM said around PHP820.27 of the PHP962.2 billion would be used for the National Tax Allotment (NTA) shares of LGUs, in accordance with the Mandanas-Garcia Supreme Court (SC) ruling. Under the SC ruling, LGUs get a bigger share in the collections of national taxes, as their internal revenue allotment (IRA) should come from 40 percent of all national taxes collected by the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BoC). The IRA share of LGUs, based on the old system, came only from the taxes collected by the BIR. The implementation of the SC ruling began this year, with the IRA renamed as NTA. On the other hand, about PHP28.88 billion would be allocated as LGUs' Local Government Support Fund (LGSF) for 2023, higher by PHP10.91 billion from the PHP17.97 billion appropriated in 2022, the DBM said. The PHP28.88-billion LGSF, the DBM said, consists of PHP13.88 billion for the provision of the Growth Equity Fund as financial assistance to the identified poor, disadvantaged, and lagging LGUs; PHP5 billion worth of cash aid for all level LGUs, except for those in the Bangsamoro region; and PHP10.00 billion for the Support to Barangay Development Program (SBDP). Budget Secretary Amenah Pangandaman acknowledged the LGUs' role in achieving inclusive and sustainable economic prosperity in the country. "With a total allocation of PHP962.2 billion for LGUs, we aim to strengthen our efforts in capacitating and empowering them to autonomously deliver essential services to their constituents," Pangandaman said during the Senate briefing on the proposed 2023 national budget. Pangandaman said the assistance to LGUs would ensure the implementation of programs and projects for the agriculture sector; information and communications technology systems and infrastructure development; construction and rehabilitation of public spaces; and disaster response, rehabilitation, and recovery. "Despite the limited fiscal space, we tried to increase some of the budget allocations for LGUs," she said, adding that the economic transformation agenda will be realized with the help of the local governments. On Tuesday, Local Government Secretary Benhur Abalos Jr. urged the 430 beneficiary LGUs to utilize the PHP1.25-billion support fund to help them carry out devolved functions and services, particularly on projects that are most beneficial and responsive to their constituents. (PNA) }

Manila , Philippines , Barangay , Pangasinan , Amenah-pangandaman , Benhur-abalos-jr , Growth-equity-fund , Bureau-of-customs-bo , Bureau-of-internal-revenue , Mandanas-garcia-supreme-court , Department-of-budget-management , Government-support-fund

Gaw Capital Partners Leads Series C Round Financing in 99 Group

HONG KONG SAR - Media OutReach - 29 July 2022 - Real estate private equity firm Gaw Capital Partners announced today that through a fund under its management, has led Series C...

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Pangandaman backs Marcos' campaign for prudent fiscal management

Department of Budget and Management Secretary Amenah Pangandaman (File photo) MANILA - Department of Budget and Management (DBM) Secretary Amenah Pangandaman on Monday expressed support on the campaign of President Ferdinand R. Marcos Jr. towards achieving prudent fiscal management and bureaucratic efficiency, as outlined in his first State of the Nation Address (SONA). "We, at the Department of Budget and Management, are one with the President and vow to contribute to the pursuit of economic prosperity where no one is left behind," the Budget chief said. According to Pangandaman, the DBM will facilitate the implementation of reforms to reverse the pandemic's adverse effects, sustain current economic gains, and restore the country's development trajectory. "We shall maximize our limited fiscal space and commit to prioritizing food sufficiency, infrastructure, and climate change goals. And we will do so with complete integrity, competence, and diligence," Pangandaman said. During the SONA, the Chief Executive underscored the need to institute government programs to achieve sound fiscal management, in order to swiftly address the effects of the pandemic to the economy. "In terms of the economy we will implement a sound fiscal management. Tax administration reforms will be in place to increase revenue collection. Expenditure priorities will be realigned and spending efficiency will be improved to immediately address the economic scarring arising from the effects of the COVID-19 and also to prepare for future shocks," President Ferdinand R. Marcos Jr. said. "The Medium-Term Fiscal Strategy of this Administration seeks to attain short-term macro-fiscal stability while remaining supportive of the country's economic recovery and aims to promote medium-term fiscal sustainability. Furthermore and more importantly, fiscal policy aims to bring together the national government's resources so that these are mobilized and utilized in order to gain the maximum benefit and the higher multiplier effect on our economy," Marcos added. For her part, Pangandaman expressed confidence on the leadership of Marcos to steer a course of stability and progress for the economy. "The economy is in good hands with our President," Pangandaman said. "The MTFF (medium-term fiscal framework) is our response to the socio-economic needs of our people today for competitiveness, inclusivity and sustainability so we are grateful that President Marcos is 100% attuned to this economic transformation agenda of the economic managers," the Secretary added. Pangandaman likewise expressed her gratitude to Congress for the support the bicameral legislature has given to the 2022-2028 MTFF. "With Congress's support for the MTFF, efforts will be harmonized which will facilitate prompt formulation and adoption of policies and reforms that will help the country back on the path to rapid economic growth," the Budget chief stated. Cash-based budgeting system The Chief Executive likewise identified the Budget Modernization Bill as a priority legislative measure of his administration. He underscored the need to fully implement the Cash-Based Budgeting System (CBS) as part of the government's thrust. "The Budget Modernization Bill seeks the institutionalization of the Cash-based Budgeting System (CBS) under Executive Order No. 91, s. 2019, to strengthen fiscal discipline in the allocation and use of budget resources by ensuring that every peso budgeted by the government would lead to the actual delivery of programs and projects. The full implementation of the CBS is timely and vital as the government executes response and recovery plans post-pandemic," President Marcos said. To fulfill this directive, Pangandaman said that the DBM will ensure the adoption and strengthening of the CBS implementation for the whole-of-government, coupled with other key reforms such as the Early Procurement Activity, to sustain the initial gains and "ensure that every peso budgeted by the government would lead to the actual delivery of programs and projects." Under the CBS, all appropriations shall be made available for obligation and implemented only until the end of each fiscal year, while payments for obligations incurred may be settled within the year or up to an extended period of three months after the end of the validity of appropriations. This will address bottlenecks in obligations, which will lead to on-time implementation and disbursement of the government's programmed projects. Rightsizing for lean, efficient gov't workforce Marcos ordered the establishment of a lean, efficient and responsive government workforce. "[This is] a reform mechanism that seeks to enhance the government's institutional capacity to perform its mandate/functions and provide better services, while ensuring optimal and efficient use of resources," Marcos emphasized. "Compared to previous government reorganization efforts, the NGRP [National Government Rightsizing Program] will entail a comprehensive strategic review of the functions, operations, organization, systems and processes of the different agencies, and massive and transformational initiatives in agencies concerned, such as merger, consolidation, splitting, transfer, and abolition of offices. The rightsizing efforts will also involve the conduct of a comprehensive strategic review of functions, programs and projects that cuts across various agencies," the President added. To this end, Pangandaman said that the DBM will support the streamlining of the bureaucracy through the NGRP which will also generate savings for the government to fund priority projects. "At the end of the day, a bloated and double-layered bureaucracy is a great disservice and a burden to our citizenry," Pangandaman underscored. The Budget secretary, however, pointed out that the NGRP does not automatically equate to the reduction in the number of personnel in government agencies. "Rightsizing will strengthen the entire organization through the implementation of structural and procedural reforms that will ensure the government's efficiency and productivity," she highlighted. Digital transformation In his speech, Marcos stressed on the importance of pushing forward his administration's campaign on digitalization. "We are entering an age of exponential adoption of technology. It is the 4th industrial revolution. This will be characterized by the infusion of technology into almost every facet of our lives. Breakthrough technologies in the areas of quantum computing, artificial intelligence, nanotechnologies, internet of things... among others that will radically transform the way business is done," the President said. Pangandaman vowed to support the President's push for digitalization that will accord the highest priority to public sector programs that promote transparency, accountability and good governance. "We shall expedite the digitalization of our public financial management system and the reforms on the procurement process and law," she said. Pangandaman said the DBM shall roll out its first 100-day Roadmap on Digitalization to diminish human discretion and eradicate corruption, through the exploration of capabilities of cloud infrastructure and application programming interfaces (APIs) for real-time processing of government service, as well as blockchain technology for decentralized transparency. "Ultimately, emerging technologies and capabilities will be utilized to digitize government processes, in accordance with the President's 8-point socio-economic agenda," Pangandaman said. "We will focus on enhancing the Government Integrated Financial Management Information Systems (GIFMIS), that facilitates the generation of vital information on all aspects of government financial transactions, to be made publicly accessible through information technology," the Secretary added. To realize this, the Budget chief stated that the DBM, together with the Department of Finance, Bureau of Trea

Manila , Philippines , Apis , Northern-samar , Ferdinandr-marcos-jr , Growth-equity-fund , Government-support-fund , Bureau-of-treasury , Committee-on-devolution , Commission-on-audit , Department-of-budget

Gabriela solon questions P10-B Growth Equity Fund in 2022 budget

Gabriela party-list Representative Arlene Brosas has questioned the over P10 billion Growth Equity Fund included in the proposed 2022 budget, claiming it could be a "new pork barrel variant."

Bagong , Isabela , Philippines , Anna-felicia-bajo , Arlene-brosas , Harry-roque , Growth-equity-fund , Greater-election-fund , Development-budget-coordination-committee , Committee-on-devolution-comdev , Supreme-court , Government-support-fund

'Palace denies 'pork' in 2022 budget;'That's an illusion', says Roque

'Palace denies 'pork' in 2022 budget;'That's an illusion', says Roque
mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.

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DBM denies ₧10-B GEF is pork barrel in 2022 budget | Bernadette D. Nicolas

DBM denies ₧10-B GEF is pork barrel in 2022 budget | Bernadette D. Nicolas
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2 items in budget worth P38.1B are pork barrel in disguise — solons

2 items in budget worth P38.1B are pork barrel in disguise — solons
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.

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