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PIA Press Release
2007/11/21

Oro mayor positive of city's tax collection efficiency

Cagayan de Oro City (21 November) -- Cagayan de Oro City Mayor Constantino G. Jaraula is optimistic that the city government will be able to hit its target income of P1.4 Billion for Fiscal Year 2008.

Mayor Jaraula issued this statement as he noted a steady increase in the city's revenue generation this year compared to the previous years.

Mayor Jaraula said that for the past four months alone, the City Treasurer's Office reported a 30 percent increase in the city's income compared to that of the same period last year.

"This will have a positive impact of about 15 percent increase in the city's over-all income for the current year," Mayor Jaraula pointed out.

He attributed the increase in the city's collection to the influx of investments in the city this year especially those that are coming from the real estates business.

The city chief executive is pleased with the cooperation of the local taxpayers who religiously paid their taxes on time thereby helping the city government implement important programs and projects for the people.

Meanwhile, Mayor Jaraula reiterated that a good portion of the city government's P1.4 Billion budget for 2008 will be allocated to finance more infrastructure projects such as opening of new growth areas and road concreting.

Mayor Jaraula said that providing the necessary infrastructure amenities is crucial in attracting more investors to locate their business here, in support to having a stable peace and order condition which is a major consideration for investors in establishing business here. (Cagayan de Oro City IO) [top]

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