GOOD NEWS! P8.2 TRILLION ON INFRASTRUCTURE WILL BE SPEND FOR THE NEXT 6 YEARS



Budget and Management Secretary Benjamin M. Diokno said that the Administration of President Rodrigo Duterte has allocated P8.2 trillion exclusively to fund the "golden age of infrastructure."

“The next six years will be the age of infrastructure in this country – the golden age of infrastructure in this country,” Dioko said.

According to GMA News Online, The Development Budget Coordinating Committee (DBCC) plans to boost infrastructure with a fast development of 24 hours a day, seven days a week.

Diokno also said that his main concern is the ability of the government to spend more than P8 trillion in the next six years.

“My worst fear is that we cannot spend all the money. But as the President said, use it or lose it,” Diokno said.

“For the next six years. For 2017, close to P900 billion and it's increasing,” he said.

'It's the value'

No target has yet been set on the number of projects, but there are several big tickets in the works.

“There’s one big project – a 600-kilometer project in Palawan. Isa lang ‘yun, but it’s a huge project, so mahirap mag-target na 100 projects or a thousand, it’s the value of the project,” he said.

Meanwhile, The National Economic and Development Authority (NEDA) said that the 9 projects has been approved which amount to P171.14 billion. All of these project were expected to be completed by 2022.

“’Yung PPP na inapprove namin recently, if I remember, mga P120 billion ‘yun ... But marami pang nasa pipeline, and we are going to activate , kaya lang kailangan pa daw ng engineering study,” he said.

Dioko also said that bidding for all infrastructure projects will be offered to bidders.

“We will simultaneously bid out the projects January 1... It will be simultaneous, all over the country.”

“The best time to build projects in the country is in the first half – the dry months from January to June. The second half is kind of iffy,” he added.

source: http://www.newsinfolearn.com/2016/10/p82-trillion-on-infrastructure-will-be.html

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