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News
- DBM sets project spending priorities The Department of Budget and Management (DBM) will only prioritize new “implementation-ready” infrastructure projects and social services programs for funding under the 2019 national budget, amid limited fiscal space. The National Budget Memorandum No. 130 outlined the budget priorities framework for the preparation of agency budget proposals under Tier 2 or new and expanded projects. The total disbursement program for 2019 is set at P3.78 trillion, 12.2% higher than the P3.37 trillion this year. Excluding the P313.3 billion set aside for obligations made in previous years, this would translate to a cash-based appropriations of P3.468 trillion. Out of the P3.468-trillion cash-based budget ceiling, about half or P1.85 trillion will be earmarked for Tier 1 or ongoing projects, while P1.26 trillion will be allocated for automatic appropriations and special purpose funds.
- TransCo now part of broadband plan National Transmission Corp. (TransCo) said privately owned National Grid Corporation of the Philippines (NGCP) has agreed to include the state owner of the country’s power transmission network in the national broadband plan. TransCo president and CEO Melvin Matibag said a memorandum of agreement (MoA) has been prepared on the national broadband plan, which now involves TransCo. The MoA has yet to be signed by the 3 parties, Mr. Matibag said, adding that NGCP still has to present the agreement before its board. He said he was talking with NGCP officer-in-charge president and CEO Anthony Almeda on the transaction.
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