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The government will use P4.5 billion in value-added tax (VAT)
collections from the previous quarter to fund pro-poor and emergency
livelihood projects
for people vulnerable to the present economic
shocks Press Secretary Jesus Dureza said Tuesday.
“There is a decision today to use [the] P4.5
billion Katas ng VAT over [the] past quarter for pro-poor programs,
especially now that the country is facing a global financial
crisis,” Dureza said.
The government still has money from VAT
collections and there are other fund resources available.
“The government focuses on the most vulnerable
sector. This is over and above the regular projects of departments
in every region. There will be stewards who will take care of every
region to see these [pro-poor] projects are implemented,” he said.
Out of the P4.5 billion allocation, P500
million will come from the unspent VAT collection from the previous
quarter. The P4 billion will be allocated as follows: support for
agriculture and food security programs P2 billion; government
feeding program P500 million; early recovery program for Mindanao
P400 million; electricity subsidy program for the poor P400
million; and P600 million to improve the country’s investment
competitiveness.
The government is also setting aside P500
million for the construction of new school buildings.
Before leaving for China last week, President
Gloria Arroyo directed members of her Cabinet to spearhead
employment and livelihood generation projects at regional level, so
as to thwart the potential problems that would be caused by the
current global crunch.
The targeted income groups considered by the
government as society’s most vulnerable sectors are the middle and
lower-middle classes, and “the poorest of the poor.”
-- Angelo S. Samonte
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