Saturday, August 04 2007 @ 05:43 PM BST
Provincial
With its promising economy as the melting pot and center of commerce and education in eastern Pangasinan, Urdaneta City is now eyeing to jump from second to first class status, best in other cities in the province and in Ilocos region.
An elated Mayor Amadeo Perez Jr. announced the city posted an income of P440 million last year, derived from local taxes and Internal Revenue Allotment (IRA), excluding P123 million from its own City of Urdaneta University (CUU).
The city-operated CUU, a model for all local government units, is virtually the goose that lays the golden eggs for Urdaneta as it earns extra income for the city's general fund.
Observers keenly watching Urdaneta's phenomenal rise in economy said with more opportunities coming its way soon, the city's first class status may now be in the bag.
"We might come to that, but let me clarify that we are not competing with other cities in Pangasinan," Perez said, referring to Dagupan, San Carlos and Alaminos cities.
He said that due to sound financial management and moderation in expenses, the city was able to realize an unprecedented P44 million surplus from its budget last year.
In 2005, Urdaneta was tagged by the Commission on Audit as having the biggest in savings and the lowest in expenditures among all cities in Region 1.
Now on his third term as mayor of Urdaneta, Perez said that although they earn more now, he sees to it that they come up with a very conservative budget each year in order to prevent the city from incurring deficit.
When Perez assumed as city mayor in 2001 after completing three terms in Congress, he was shocked to find out that the city had maturing loans with various financial institutions almost up to its neck.
With the city's finances in disarray, he put it back to shape by ordering a strict policy of belt-tightening. He was also compelled to order the laying off of casual employees to pay its obligations with the banks. These efforts, complemented by vigorous tax collections, enabled the city to write off all its loans with different financial institutions in less than three years.
Perez foresees the opening of the high-rise Building-B of the public market financed by a new loan of P170 million from the Development Bank of the Philippines to further soar economic opportunities in the city.
Building B will complement Building A, built two years ago through self-help, as additional attractions for investors who may want to expand their business to the city.
Building A was financed by joint contributions from Rep. Mark Cojuangco of the fifth district of P80 million and P15 million from President Gloria Macapagal Arroyo, both of which were complemented by local funds of P60 million.
Both Buildings A and B of the public market, designed to have pay parking areas in their third and fourth floors, assure enough stalls for anybody who wants to do business in the city.
At the same time, Perez announced that a multi-national company is negotiating to buy a 49-hectare property along the Mac Arthur Highway between Urdaneta City and Sta. Barbara town which it seeks to convert into an industrial center.
He, however, declined to identify the company and the project that it intends to build until its deal with the landowners in the city are closed.
Tagged as the single factor that made Urdaneta more attractive to investors was the recent completion of the widening of the Mac Arthur highway that relieved the once congested highway of unnecessary heavy traffic.
Shoe Mart Inc. has also acquired a property in barangay Anonas a few years ago but its plan to build a mall was stalled for the meantime due to unsettled land dispute. (PNA)
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