PROVINCIAL board backs business, banking sectors’ call; seeks national support forlong-delayed facility
THE Sangguniang Panlalawigan (SP) of Bohol has renewed the province’s push for the establishment of a Bangko Sentral ng Pilipinas (BSP) branch or appropriate facility, citing its potential to strengthen banking services, improve the movement of cash and support Bohol’s growing economy.
During its regular session presided over by Senior Board Member Tita Baja, the provincial board approved a resolution favorably endorsing the Bohol Chamber of Commerce and Industry’s call for the establishment of a BSP branch in the province.
The SP also approved a separate resolution seeking national government support for the proposed facility.
The renewed initiative comes years after plans for a BSP presence in Bohol had already reached the project-development stage. BSP’s official 2018 procurement plan identified Bohol among its planned new regional branches, while its 2019 procurement program included consultancy services and procurement of a general contractor for a proposed BSP Bohol Branch Building. Bangko Sentral ng Pilipinas
Board Member Benjie Arcamo, who raised the matter before the SP, said establishing the facility would benefit Bohol’s banking sector, business community and broader economy. p2_SP Bares_wpb
Board Member Lucille Lagunay supported the initiative, citing concerns raised by the Bohol Bankers Association over continuing challenges in moving cash safely and promptly.
“A local BSP facility could help reduce the need for frequent inter-island cash shipments and improve the efficiency and security of cash distribution,” Lagunay said.
She added that improved access to BSP services could also create opportunities for financial education, consumer protection, digital finance and financial inclusion. p2_SP Bares_wpb
The BSP itself identifies broad and convenient access to high-quality financial services among the considerations in carrying out its statutory objectives. Bangko Sentral ng Pilipinas
BUSINESS SECTOR BACKS PUSH
The renewed call is supported by Bohol’s business and banking sectors, which have emphasized the potential benefits of a BSP facility to residents, businesses, the tourism industry, investors and local government units. p2_SP Bares_wpb
The original SP report states that the BSP Monetary Board approved a branch in Bohol in 2017 and that a groundbreaking subsequently took place at an acquired site in Tinago, Dauis. p2_SP Bares_wpb
Official BSP procurement records provide additional documentary evidence that the Bohol branch project subsequently entered its planning and procurement pipeline. The BSP’s 2019 Annual Procurement Plan carried separate items for construction-management consultancy services and procurement of a general contractor for the proposed Bohol Branch Building. Bangko Sentral ng Pilipinas
SP AMENDS REVENUE CODE
In other major action during the session, the SP approved amendments to the Bohol Revenue Code, including a tax exemption covering transfers of real property ownership to component local government units when the properties are intended for specified public-service purposes. p2_SP Bares_wpb
The covered purposes include barangay and municipal halls, public markets and libraries, learning centers, health and social-service facilities, safety and emergency facilities, community and recreational facilities, infrastructure and utilities, and solid-waste management facilities.
DEVELOPMENT PARTNERSHIPS
The provincial board also authorized Gov. Aris Aumentado to enter into several agreements involving employment, public open spaces and cultural enterprise development.
Among these are an agreement involving the Provincial Government of Bohol, through BEPO-PESO, and partner employers for the implementation of JobStart Philippines; an agreement with the Department of Human Settlements and Urban Development for the Local Government Support Fund-Green Green Green Program; and a partnership among the provincial government, Bohol Island State University and DTI-Bohol for “Bohol Design Roots: Creating Geo-Cultural Souvenirs Through Art, Heritage, and Innovation.” p2_SP Bares_wpb
The SP likewise accredited the Buenaventura Rice Farmers Association and the Talenceras Women Workers Association.
