MANILA - The Departments of Transportation and Communications (DOTC) and of Public Works and Highways (DPWH) will corner seven out of every 10 pesos set aside for the Public Investment Program of the Aquino administration for the remainder of its term.
According to the draft of the Revalidated Public Investment Program, P718.43 billion will be spent from 2013 to 2016, with P556 billion earmarked for 69 core investment programs and projects.
Five projects worth a combined P50.35 billion would go to social development, while P42.44 billion would be spent on seven projects for peace and security. The remaining P41.87 billion will be set aside for 10 projects in agriculture and fisheries.
DOTC topped the list of agencies with a budget of P286 billion for the following projects:
- P91-billion Manila-Clark Airport Express Rail Link;
- P33.8-billion Central Spine Roll-on Roll-off Development;
- P10-billion New Cebu International Port;
- P9-billion New Passenger Terminal at Mactan-Cebu International Airport;
- P6.24-billion Clark International Airport Low-Cost Carrier Terminal;
- P7.5-billion Integrated Transport System; and
- P10.57-billion Bus Rapid Transit in Metro Cebu.
DPWH will receive the second biggest allocation at P220 billion to spend on the following projects:
- P31.16-billion Cavite-Laguna Expressway;
- P14.94-billion Central Luzon Link Expressway-Phase 1;
- P8.2-billion Calamba-Los Banos Toll Expressway;
- P48.6-billion C-6 Expressway and Global Link-South section; and
- P18.6-billion C-6 Extension-Flood Control Dike Expressway.
The national government will fund P472.7 billion worth of projects using official development assistance (ODA), while the private sector would chip in P222.8 billion. Other sources of funding are government owned or controlled corporations (GOCCs) and local government units.
Under its Philippine Development Plan 2013-2016, the Aquino administration is aiming for a 22 percent investment ratio by the end of its term and gross domestic product (GDP) growth averaging 7-8 percent a year.
Earlier, state-run Philippine Institute for Development Studies (PIDS) said the country's investment-to-GDP ratio stood at 19.7 percent last year, only slightly higher than the 19.1 percent in 2011.
This is lower than Indonesia's 33 percent in 2011, as well as Thailand's 27 percent and Malaysia's 24 percent.
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From article above, kung kinsa man ninyo naka bisita sa airport recently, then makita jud ninyo nga mga renovations. Gi cite sa article ang "NEW Cebu International Port"?? unsa ila pasabot ani and asa?
DOTC, DPWH corner bulk of 2013-2016 infra budget - InterAksyon.com