Trading Century
  • Trading News
  • Economy
  • Editor’s Pick
  • Finance
  • Investing
  • Politics
  • Stock
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Email Whitelisting
  • Contact
Subscribe
Trading Century
Trading Century
  • Trading News
  • Economy
  • Editor’s Pick
  • Finance
  • Investing
  • Politics
  • Stock
  • Politics
  • Stock
  • Trading News

Mindanao agencies appeal significant slash in proposed budgets

  • September 28, 2022

GOVERNMENT AGENCIES involved in the development of Mindanao, the southern islands in the Philippines, on Wednesday asked the Senate for more funding as their proposed budgets for 2023 were slashed by more than 50%. 

The Mindanao Development Authority (MinDA), which formulates and coordinates development plans, has been allocated P158.958 million under the 2023 National Expenditure Program.

This is lower than its P197.27 million budget this year and just about a third of its proposed P510 million funding for 2023. 

“As a result of the reduced budget, this now leaves us with a lot of other important programs and expense items that are unbudgeted or unallocated. These projects are very necessary in the administration, operation and strategic coordination for the overall development of Mindanao,” Secretary Maria Belen S. Acosta, chair of MinDA, told the Senate Finance Committee hearing.

“And other than Mindanao, we are also mandated to handle coordination for the BIMP-EAGA (Brunei Darussalam, Indonesia, Malaysia and the Philippines — East ASEAN Growth Area),” she added. 

Among the unfunded proposals include the Expanded Mindanao Economic Program (P20.98 million), Mindanao Digital Innovations Program (P18.98 million), Mindanao River Basins: Food-Energy-Water Nexus Program (P12.38 million), and the Mindanao Indigenous People Heritage Preservation and Development Support Program (P10 million). 

The Southern Philippines Development Authority (SPDA), a government-owned and controlled corporation intended to promote balanced growth in Mindanao through economic initiatives, has been allocated P143.82 million out of its P838.89 million proposed budget.

“We have been doing well, so we should be rewarded for the job well done,” SPDA Administrator Abdulghani “Gerry” Ajul Salapuddin said, noting their accomplishments and ongoing projects.

Meanwhile, Secretary Carlito G. Galvez, Jr. of the Office of the Presidential Adviser on Peace, Reconciliation and Unity (OPAPRU) said their proposed budget for several Mindanao-related programs have also been cut.

“It can be noted that the funding for our major programs were reduced in 2023,” Mr. Galvez said, citing several projects in the Bangsamoro region in Mindanao.

Senators Robinhood Ferdinand “Robin” C. Padilla  and Ronald M. Dela Rosa, who both have ties to Mindanao, vowed to push for a restoration of some of the budget cuts of the agencies. — Alyssa Nicole O. Tan 

Previous Article
  • Politics
  • Stock
  • Trading News

Agricultural damage from Karding reaches almost P2B, infrastructure at P135M 

  • September 28, 2022
View Post
Next Article
  • Politics
  • Stock
  • Trading News

Bangsamoro gov’t submits P85.3-B proposed budget for 2023 

  • September 28, 2022
View Post
You May Also Like
View Post
  • Trading News

TikTok is a necessary evil for Democratic campaigns

  • March 29, 2023
View Post
  • Trading News

‘Sickened’: Partisan clashes ensue after Nashville shooting

  • March 29, 2023
View Post
  • Trading News

Juror in Oath Keepers trial reveals secrets from the deliberation room

  • March 29, 2023
View Post
  • Trading News

TikTok is a necessary evil for Democratic campaigns

  • March 29, 2023
View Post
  • Trading News

TikTok is a necessary evil for Democratic campaigns

  • March 28, 2023
View Post
  • Trading News

Juror in Oath Keepers trial reveals secrets from the deliberation room

  • March 28, 2023
View Post
  • Trading News

Juror in Oath Keepers trial reveals secrets from the deliberation room

  • March 28, 2023
View Post
  • Trading News

Gun rights hearing turns chaotic amid arrest of Parkland parent

  • March 28, 2023
Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



    If you want to delve into the USA business updates and investors daily routine,
    go to our partner project Daily Business Investor.

    TradingCentury.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.

    Copyright © 2023 Trading Century. All Rights Reserved.

    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • About Us
    • Privacy Policy
    • Terms & Conditions
    • Email Whitelisting
    • Contact
    Trading Century
    Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

    Input your search keywords and press Enter.