The Department of Finance has recognized Parañaque as the sixth richest city in the country in 2019, according to a report released by the DOF’s Bureau of Local Government Finance (BLGF).
BLGF executive director Niño Raymond Alvina said Parañaque earned P4.8 billion in local revenue generation in 2019.
The report revealed the top 10 provinces, cities and municipalities ranked nationally in 2019. The selection was based on the performance areas of nominal locally sourced revenue, collection efficiency of LSR and year-on-year growth in LSR.
Mayor Edwin Olivarez commended the city treasurer’s office, headed by Anthony Pulmano, for exceeding the collection target in 2019 and for the office’s excellent performance in tax collection for the past six years.
“Since my first term in office, Pulmano and his team has introduced several innovative business processing system and tax reform measures in which the city became top in terms of revenue collection,” Olivarez said.
Because of Pulmano’s exemplary performance in tax collection, Parañaque, from a sleepy town three decades ago, is now one of the richest cities in the Philippines, the mayor said.
Olivarez said the city’s target collection in 2019 was only P4.5 billion, but Pulmano’s team was able to collect P4.8 billion.
In the city category, Quezon City was awarded the highest nominal locally sourced revenue in 2019 with P16.9 billion, followed by Makati with P12.5 billion; Manila, P9.8 billion; Pasig, P9.6 billion; and Taguig City, P8.6 billion.
Parañaque, in sixth place, was followed by Davao City and Cebu City, P4.4 billion; Pasay City, P4.2 billion; and Mandaluyong, P3.8 billion.
Parañaque also placed fifth in collection efficiency of locally sourced revenue two years ago with P6.2 billion collection or 137.6 percent, among the cities all over the country.
Alvina said Parañaque and other LGUs will receive certificates of recognition for their efforts in revenue generation towards fiscal sustainability, economic growth, and better public service delivery.