House Speaker Alan Peter Cayetano wanted the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) to get the P10-billion tourism recovery fund meant for small and medium businesses to make it easier for his allies to push for their projects because his friend is in charge.
Politiko learned that TIEZA chief operating officer Pocholo Paragas is close to Cayetano and his buddy, Bases Conversion Development Authority (BCDA) chief Vince Dizon.
A source told Politiko that Paragas’ closeness to Cayetano was one of the reasons why the House of Representatives realigned the P10 billion intended for the tourism sector’s recovery under the proposed Bayanihan to Recover as One Act.
Under the Senate version of the Bayanihan 2 bill, the P10-billion fund for the tourism sector’s recovery will go to the Department of Tourism (DOT) and government financial institutions, which will provide low interest loans, loan guarantees, and credit facilities to affected small and medium enterprises.
TIEZA has been notorious for having difficulty implementing its projects. Its poor absorptive capacity was the reason why the Department of Finance took P12 billion away from the agency when the COVID-19 pandemic started, so the money can be used by other departments.
Like the Road Board, TIEZA has its own budget, so it is puzzling why the agency would seek a bigger funding considering its poor track record in implementing projects.
But since infrastructure projects are a known source of pork barrel funds, it makes sense why Cayetano wants TIEZA to have P10 billion.
Politiko earlier reported that Cayetano pushed for the realignment of P10 billion to TIEZA under the Bayanihan 2 bill as “pabaon” or parting gift to his allies.
Cayetano is expected to step down as Speaker in October this year under the term sharing deal he has with Marinduque Rep. Lord Allan Jay Velasco.
Source: Latest Politics News Today (Politics.com.ph)
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