Philippines To Outlay $7.2 Billion For Infrastructure Program
Josephine Roque - All Headline News Staff Writer Manila, Philippines (AHN) - The Philippine government's infrastructure program to be implemented for roads, rail systems, airports, ports, and other basic requirements is estimated to cost $7.2 billion in the next four years. The President's announcement was taken with incredulity and encouragement by administration critics and supporters alike. Budget Secretary Rolando Andaya told AFP that the 92 "big-ticket" items cited by President Arroyo would amount to that much and about half the funding coming from the annual national budgets for 2007-2010. Part of the program would be funded with development assistance from donor countries, he said. The private sector would be asked to bid for 18.39 percent of the total through "build-operate-transfer" or similar proposals, while state-run firms would spend 31.8 percent of the total cost of the program. "The cost per project can still go up or down depending on the prices of construction materials. For example, if oil prices go up, then an escalation in the project cost is to be expected," Andaya added. Rail projects will answer for 48 percent of the project cost with a light rail loop encircling metropolitan Manila. Foreign Secretary Alberto Romulo said the project breakdown provided by the government should "answer now all the nitpickers, the critics that are appearing in the papers." Arroyo told AFP all 92 |
