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JV on APECO: Why did DBM reduce your budget?

Philippines | National

JV on APECO: Why did DBM reduce your budget?

By Mario Casayuran

Senator Joseph Victor ‘’JV’’ Ejercito said there are many issues that need to be confronted at the Aurora Pacific Zone and Tourism Authority (APECO) before deciding what to do with State-sponsored business venture.

Sen. Joseph Victor "JV" Ejercito (Photo by Ali Vicoy/MB)

Ejercito, chairman of a Senate finance sub-committee, made this observation after the Department of Budget and Management (DBM) reduced APECO’s recommended 2023 budget of P185 million to P46.2 million.

Asked to explain, APECO President Israel F. Madudoc said that this could be attributed to the high utilization rate by APECO of its budget for infrastructure projects.

Maducdoc appeared upbeat of the future of APECO where investors continue to come in despite the lack of energy supply and telecommunication facilities.

He said APECO is at present talking with two renewable energy firms.

Maducdoc emphasized that APECO ecozone provides a business-friendly hub conducive to harnessing the rich resources of the land and the sea for viable entrepreneurial ventures.

The APECO ecozone is located in Casiguran, Aurora.

It is 80 nautical miles west of the still untapped Philippine (Benham) Rise.

The APECO Ecozone is a brainchild of the late Senate President Edgardo Angara.

The Rise, according to the Bureau of Fisheries and Aquatic Resources (BFAR), is also called the ‘Tuna Highway.’’

Ejercito gave Maducdoc to submit answers to questions he fielded in today’s committee hearing before his committee resumes hearing next week.

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