The government is targeting to complete at least half of the 75 flagship projects listed under its infrastructure program before President Duterte steps down in 2022, the country’s socioeconomic planning chief said on Wednesday.
Speaking at the Makati Business Club and Philippine Chamber of Commerce and Industry’s joint membership meeting, Socioeconomic Planning Secretary Ernesto M. Pernia said this means at least 35 of the 75 flagship projects under the “Build, Build, Build” (BBB) program should be done in less than five years. So far, only two of the 75 projects broke ground—the Clark International Airport and the Tutuban-Malolos Railway.
“We want at least half of the projects near-complete, if not complete, by 2022. Of the 75, half of them, or a little more than 35 of the projects, would be good,” Pernia said.
However, Pernia admitted that “existing problems yet to be identified” are getting in the way of the P8.3-trillion infrastructure program. One of these is the sudden slowness on the part of China in financing some of the projects.
Pernia cited as example the two China-funded Pasig River bridges, which gained a lot of attention but have yet to break ground. “China is pressing us to do our part, but there is slowness on the side of China.”
Nonetheless, the socioeconomic planning chief said the government will carry on with its BBB program this year and assured that half of the listed projects under it will be delivered before the President heads back to Davao City for his retirement. “We should deliver this, because the country badly needs these infrastructure, especially those in the provinces,” he said.
The Duterte administration is bent on completing dozens of public infrastructure, such as the North Luzon Expressway Harbor Link, Luzon Spine Expressway, Philippine National Railway North and South Rails and the Metro Manila Subway, under its infrastructure program. It intends to achieve this dream by accelerating the country’s infrastructure-to-GDP ratio to 7 percent, which is expected to amount to as much as P9 trillion by the end of the President’s term
The government has, so far, allocated P3.6 trillion for its infrastructure program, most of which for transportation and connectivity projects in Metro Manila and other major urban centers. Aside from the annual budget, the “Build, Build, Build” program will also rake in 70 percent, or P84.84 billion, of the expected revenue of P121.2 billion from the new tax law.