Capitol cuts aid to business sector

CEBU, Philippines - The financial constraints that the Cebu Provincial Government is facing now forced Acting Governor Agnes Magpale to cut the financial assistance it will be giving to the business sector.

Yesterday, the Board of Trustees and officers of the Cebu Chamber of Commerce and Industry visited  Magpale for a courtesy call.

They also discussed with Magpale preparations for the upcoming 27th Confederation of Asia Pacific Chambers of Commerce and Industry Conference (CACCI), which will be hosted by Cebu in March.

Prudencio Gesta, president of CCCI, said that they have partnered with the Provincial Government and the local government units in Cebu to successfully host an event which is a “rare opportunity” to promote further the province as an investment hub in the Asian Pacific region.

“We are strongly promoting Cebu to the Asian-Pacific region,” said Gesta.

The event will be participated in by representatives from 27 countries and they also invited other countries to attend.

Magpale said that suspended Governor Gwendolyn Garcia reportedly promised P5 million as assistance for the event.

However, with the financial constraints of the province, this would not be possible.

Gesta said they understand the current financial situation of the Province.

Magpale said she already told the treasurer and the chairman of the budget committee to compute how much the province can afford to give.

“Sige pa sila compute if pila gyud mahatag but definitely not the P5 million,”  Magpale said.

Magpale assured the CCCI officials that the Province will definitely help financially as well as in other means like the use of the Cebu International Convention Center.

Gesta admitted that the amount initially committed by the Province would have been a big help but he said they are not limiting their concerns to financial issues.

He said they would work harder to get support from private groups and other local government units.

Gesta also assured that the change of leadership ini Capitol did not affect the preparations. 

“As to the involvement of the province, it is still the same. We are not talking about personalities. We are talking here about the support of local government units, particularly the Province of Cebu. Theirs is nothing personal. It’s more on the partnership we have with the Province,” Gesta said.

Gesta is also optimistic that they can sustain the momentum of growth of the industry in Cebu especially with the possible opportunities the CACCI would open for business investments which would mean more employment possibilities for the Cebuanos. (FREEMAN)