The government will infuse another P10 billion in the Bangko Sentral ng Pilipinas this year enabling it to pay in full the central bank's P50 billion capitalization.
“We'll infuse P10 billion by year-end…And we'll infuse additional if needed,” Finance Secretary Cesar Purisima said at the sidelines of the Euromoney forum in Makati City.
Under the New Central Bank Act of 1993, the national government is mandated to give the BSP P50 billion capitalization, P10 billion of which was given in 1996.
Purisima to check on
local BIR performance
Department of Finance Secretary Cesar Purisima will be in Bacolod City tomorrow to check on the performance of the Bureau of Internal Revenue, Revenue Region 12-Bacolod, a source told the DAILY STAR yesterday.
The Bacolod City Police Office will also provide security on his arrival.
BIR official website reported that Purisima, with BIR Commissioner Kim Henares has been visiting various revenue region offices since February.
BACIWA officials launch
brgy. waterline extension
Bacolod City Water District officials inaugurated yesterday the firm's waterline extension in Brgy. Vista Alegre, Bacolod City, that will provide potable water to about 565 households in the far flung puroks of Villa Nena, Oto and Kapisan.
Baciwa has put up pipelines measuring 1,860 lineal meters or approximately 1.8 kilometers from its pumping station in Vista Alegre.
The project which was started on Feb. 1, 2012 and was accomplished in July 31 by virtue of Board Resolution No. 009, series of 2012, has an actual project cost of P961,219.73.