SAN FRANCISCO, Agusan del Sur (MindaNews / 21 June) — This town’s 20-percent development fund for next year amounting to P69 million will go to debt servicing for the P600-million loan for the new Integrated Terminal and Public Market (ITPM) project, Mayor Grace Carmel Paredes-Bravo said.
In her two-hour State of the Municipality Address on Friday at the municipal gym, Bravo said the local government has been covering interest payments for the past three years, with principal payments plus interest set to start next year.
“Yes, this is a huge risk but we are confident and praying that this investment risk will make positive returns for our local economic enterprise. In order to ensure the profitability of the ITPM we conducted thorough business studies for this to really work and we hope that the public, especially the local business owners will fully support it,” she said.
The ITPM, which was initiated by her predecessor, Solomon Rufila, was implemented without a feasibility study, contributing to the project’s budget deficit.
To support financial management and tariff policies for occupants and daily tariffs for passenger buses and other public utility vehicles, the municipal government has engaged two consultants.
Amid problems like inadequate water and electricity services, Bravo told reporters that she has already requested a P10-million supplemental budget from the Sangguniang Bayan.
The request aims to address these essential services, as well as concreting from the road junction to the facilities and the drainage system, modeled after Tagum City’s.
“We need to expedite the operationalization of the public market and bus terminal to commence revenue collection from occupants as soon as possible,” Bravo said.
The urgency to initiate operations at the market and terminal stemmed from the fact that the P69-million development fund is P10-million short of the amount needed to cover next year’s loan principal and interest.
Bravo encouraged public market stall owners and stakeholders to participate in public consultation meetings to fully understand the upcoming policies to preempt possible complaints.
Situated along the diversion road in Barangay Hubang, approximately two kilometers from the national highway, the 5-hectare New Public Market and Passenger Terminal is seen to alleviate congestion at the old public market malls. (Chris V. Panganiban/MindaNews)
