Iloilo province earmarks P25B investment plan for 2024

By Rjay Zuriaga Castor

The Sangguniang Panlalawigan (SP) unanimously approved the resolution that outlines a work and financial plan of P25 billion for the province of Iloilo for the year 2024.

The SP, in its 60th regular session on September 12, has endorsed the Provincial Development Council (PDC) en banc Resolution No. 2023-2, which backs the province’s Annual Investment Program (AIP) with a budget of P25,295,596,589.79.

Of the P25 billion AIP, the PDC has allocated P2.23 billion for the general public services sector, encompassing various programs, projects, and activities related to executive, legislative, treasury, accounting, budgeting, and other administrative services.

The economic development services sector gets the largest share of the budget, amounting to P8.72 billion. This sector includes services related to agriculture, veterinary, environment and nature, engineering, tourism and promotion, cooperative ventures, as well as local economic development and investment promotion.

A P8.08 billion budget is allocated for the social services sector while P4.63 billion is distributed to district and provincial hospitals.

Meanwhile, other services, such as local disaster risk reduction and management programs, the operation of the provincial civil defense, and assistance to barangays, among others, are slated to receive a budget of P6.27 billion from the AIP.

The Committee on Appropriations, chaired by 4th District Board Member Domingo Oso, Jr., and the Local Finance Committee, previously convened in a committee hearing on August 11 to review and discuss the resolution in detail.

The AIP identifies projects and programs to be appropriated in the 2024 annual budget of the provincial government. The 2024 budget is scheduled to be presented to the SP in October 2023 for further deliberation and approval.

In 2023, the provincial government had an approved AIP of approximately P23 million.