spot_img
29.3 C
Philippines
Friday, April 19, 2024

BARMM to submit financial report

- Advertisement -

Cotabato City—The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) will present its semestral reports to the national government within the month. 

Lawyer Naguib Sinarimbo, BARMM spokesman and minister of interior and local government, said the region normally submits its periodic performance and financial reports to the national government through intergovernmental relations (IGR) groups provided under the Bangsamoro Organic Law. 

Under the BOL, the BARMM and the national government maintain channels of relations via IGRs on budget and finance management, energy, and infrastructure development. 

Director Andrew Ameen Alonto, BARMM Bureau of Information Office, said the regional leadership would also virtually meet the press this week to also share its periodic reporting with the public. 

- Advertisement -

Earlier, Sen. Imee Marcos urged the Senate Finance Committee in a resolution to look into BARMM’s spending of its 2020 funds provided for the rehabilitation of conflict-affected areas, including its part in the rehabilitation of Marawi City. 

Sinarimbo said regional heads of offices will present summaries of their reports on the utilization of BARMM Block Grant funds. 

Under the BOL, the region gets an annual share equivalent to five percent of the net national internal revenue tax collection of the Bureau of Internal Revenue and the net collection of the Bureau of Customs from the third fiscal year immediately preceding the current fiscal year. For 2020, that amount was roughly P70 billion. 

Sinarimbo said most of the annual block grant funds released in 2020 to the region from the national government were reverted back to the regional treasury as most of BARMM agencies and offices failed to disburse their funds on time. 

- Advertisement -

LATEST NEWS

Popular Articles