City assures CIPC to stay

CEBU, Philippines – Cebu City acting mayor Michael Rama assured that measures will be put in place to keep the Cebu Investment and Promotion Center (CIPC) alive.

During a press conference yesterday, Rama said he would look for all possible means for CIPC to continue its operations due to its many accomplishments.

“CIPC has been very effective, it is not for closure, there should be a way, a better way,” Rama said.

For now, with a pending resolution from the Commission on Audit (COA), Rama admits that the city government cannot give the monthly P250,000 financial assistance to CIPC.

Late last year, COA prohibits the city government from giving financial aid to non-government organizations and foundations whose officers are also elected officials of the city.

It was learned that the CIPC, the marketing arm of Cebu City’s business programs that include the South Road Properties (SRP), did not receive the monthly financial assistance since October last year.

If COA would permanently not allow the city from giving financial assistance to NGOs and foundations, the city will find an alternative to sustain the operations of CIPC.

One alternative is that the city’s share from the Philippine Amusement and Gaming Corporation (PAGCOR) may be given directly to CIPC.

But a City Council resolution is needed for this in order for the city not to violate the COA rule.

Rama said he would be in Manila this week to lobby the city’s concern to COA.

Only the Sinulog Foundation, which is chaired by Rama, was granted a one-time exemption by COA because of timeliness and relevance of the event.

The CIPC, which was founded by Mayor-on-leave Tomas Osmena, is in the process of finalizing other deals pertaining to the 303-hectare SRP.

It recently closed the P25-billion joint venture contract with Filinvest Land Incorporated (FLI). — Ferliza C. Contratista/LPM (THE FREEMAN)