Paglaum Fund ups city calamity fund
ILOILO CITY – This southern city’s calamity fund of more than P46 million or 5 percent of the annual budget of P930 million this year is expected to increase by 10 percent in five years starting this year.
This was arrived at after the Senate Committee on Finance approved this week the P8 billion Paglaum Fund for rehabilitation of Typhoon Frank-affected areas in Western Visayas.
The Senate approval showed that “notwithstanding the provision of section 324 (d) of Republic Act 7160 or the Local Government Code of 1991, the budget of local government units covered under this act, for unforeseen expenditure arising from the occurrence of calamities shall be increased to 10 percent of the estimated revenue from regular sources. The said rate shall automatically revert to 5 percent as provided under RA 7160 after the expiration of the term of the Region 6 Rehabilitation and Development Commission.” Read more »








