Additional debt worth P300 million for the expansion of the Iloilo City Community College in Fort San Pedro, Iloilo City raised questions among residents.
"Tama na muna hanggang mabayaran. Parang lumalaki at lumalaki na na wala namang makikitang pruweba (patunay),” Edward Demoni, a resident, said.
The Local Government Unit (LGU) of Iloilo City has a P2.5-billion outstanding debt, which includes the P1.9 billion for the rehabilitation of public markets and construction of the Iloilo City Hospital, over P162 million debt for the lot acquisition for a relocation site, and P133 million for the construction of school buildings.
The Iloilo City Budget Office clarified that the additional debt will not affect the financial standing of the LGU.
“For every year, ang binabayaran lang natin is amortization. That’s why konti lang na portion ng income natin ang ginagamit to pay the amortization, and these are long term na loans na 15 years,” said Viminale Capulso, head of the Iloilo City Budget Office.
Capulso further clarified on the LGU's decision for the loan.
“Ang ating project cost is malaki. So kailangan natin ng additional source para ma-support ang ating project,” Capulso said.
According to Joy Fantilaga-Gorzal, spokesperson of Iloilo City Mayor Raisa Treñas, the P300-million funds are for the entire project and not for Phase 1 only.
Part of the project is the site development, construction of classroom buildings, gymnasium, and others.
The expansion project is seen to accommodate over 2,000 students compared to the current 1,300 students.
Fantilaga also pointed out that the main campus will not be abandoned, but will undergo retrofitting.
“Isa ito sa pwedeng mawala ang CHED [Commission on Higher Education] subsidy kung hindi natin mapapatupad [ang] expansion. Tinitingnan natin na possibly, may specific tayong course na ipapanatili diyan,” Gorzal said further.
