NEDA to finish public spending plan by June 21

The National Economic and Development Authority (NEDA) has set June 21 as a working target date for presenting to President Benigno Aquino III the draft Public Investment Plan (PIP) that will show how much the administration will commit to spur economic growth. The PIP details the spending that government intends to make to implement the economic master plan known as the Philippine Development Plan. In 2010, public consumption accounted for 10 percent of the country’s output, according to the National Statistical Coordination Board. NEDA Director-General Cayetano Paderanga on Tuesday advised the agencies that their programs and projects “should contribute to the societal goals, outcomes and outputs spelled out in the Philippine Development Plan (PDP)." Unveiled in full Monday, the PDP presents the Aquino administration’s bases for its development strategies and states some measures such as increasing tax collections and raising service fees of various agencies. The NEDA chief also reminded agency planners to consult with their attached agencies and field offices so their plans will be consistent with the regional development plan. ‘Discredited’ policies Meanwhile, the IBON Foundation criticized the PDP for adopting “discredited" free market policies. IBON reiterated its opposition to public-private partnerships, a strategy the Aquino administration has committed to pursue with vigor. IBON said the PDP “gives disproportionate stress on PPP as if these will substantially address the country’s underdevelopment." IBON also said that while the PDP presents how big firms “will benefit from guaranteed profit… it is uncertain how the huge majority of Filipinos will gain from the PDP." — ELR/VS, GMA News