Author Topic: Panglao airport fund not from foreign loans?  (Read 628 times)

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Panglao airport fund not from foreign loans?
« on: May 22, 2008, 11:10:47 AM »
Reported by Kit Bagaipo
Bohol Chronicle

President Gloria Macapagal-Arroyo yesterday confidently declared the Panglao-Bohol International Airport will be built solely on government funds without a single centavo from foreign loans.

Stressing the P4.17-billion project will be the first of its kind to be funded jointly by the Manila International Airport Authrity (MIAA) and the national government through the Department of Transportation and Communications (DOTC).

During her speech at the laying of the project's time capsule in barangay Tawala yesterday, the President assured the airport will be operational starting 2010.

"The Panglao Airport will be built on Philippine money without any foreign borrowings," Arroyo announced to a cheering crowd of some 2,500 people who attended the groundbreaking rites.

The MIAA has already earmarked P3-billion to shoulder bulk of the project's civil works in the next two years while the DOTC will include it in its budget proposal in 2009.

According to President Arroyo, the Panglao Airport is an important element not only for Bohol's development but also the country's.

"Being at the center of the tourism industry and the influx of investments because of Bohol's tourist attractions," she said, the airport is a vital infrastructure in Central Philippines.

"Your resorts here are world class including your dive sites," Arroyo said. "That is why I brought my Cabinet here together with some professional divers so they will help promote Balicasag Island, a popular dive site."

President Arroyo was welcomed by provincial officials headed by Gov. Erico Aumentado, Vice Gov. Julius Caesar Herrera, Representatives Edgar Chatto, Roberto C. Cajes and Adam Relson L. Jala along with Panglao Mayor Benedicto Alcala.

The President was assisted by DOTC Sec. Leandro Mendoza and MIAA General Manager Alfonso Cusi during the time capsule laying rites.

Arriving by helicopter at around 10 a.m., President Arroyo immediately started with the capsule laying ceremony. Msgr. Jeffrey Malanog of the St. Joseph's Cathedral led the opening prayer.

President Arroyo ended her speech by lauding "Bohol's united leadership" of Aumentado and Herrera together with the three Bohol solons, as a strategy of moving forward for development that is worth emulating by other provinces.

In his welcome address, Aumentado was generously thanked the President for "fulfilling a 20-year dream of the Boholanos to realize an airport in Panglao".

The "dream which was started during the time of former Gov. Constancio Torralba," the governor said, is "the mother of all infrastructure developments in the province."

Aumentado likewise expressed gratitude to Mendoza and Cusi for including the airport project in the Philippine Medium Term Development Plan.

According to MIAA Assistant Manager Tirso Serrano, during the capsule-laying rites, Cusi indicated that instead of constructing the 2.5 kilometer runway before the 2010 deadline, it will now be extended to the full 3.5 kilometer length as laid down in the project's design.

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