Iloilo City Hall
ILOILO CITY, Philippines 鈥� The city government here has exceeded its collection targets from its public markets and parking areas for the first time in 2024.
According to its Local Economic Enterprise Office (LEEO), it collected P9.4 million in December or 40.3 percent higher than its P6.7 million target for that month.
Its total collections for 2024 was P100 million, surpassing its P81.4 million target for the year by 22.85 percent.
Iloilo City Mayor Jerry Tre帽as highlighted that this was the first time that the LEEO had exceeded its collection targets.
This was also despite the stalls of six of its seven public markets currently housed in makeshift areas due to ongoing rehabilitation efforts in its edifices.
The rehab of the Arevalo, Jaro, and La Paz markets are funded by Development Bank of the Philippines (DBP) loans to the city government, while the Mandurriao market rehab is under the Department of Public Works and Highways.
The Central and Terminal markets are under a Public-Private Partnership (PPP) with mall giant, SM Prime Holdings.
鈥淭his is the first time that LEEO has achieved this milestone. In the past, the office consistently faced deficits, struggling to pay salaries and even utility bills,鈥� Tre帽as said in a Facebook post on Saturday, January 5.
He said that the completion and eventual reopening of the public markets were expected to further increase the LEEO revenues.
鈥淭he ongoing renovation of our new markets is expected to further increase our income, enabling us to pay off other loans. While our Central and Terminal Markets have no loans due to the [PPP] arrangement, the income from other markets will help us achieve better financial stability and provide even more services for our Ilonggo constituents,鈥� Tre帽as said.
Meanwhile, the paid parking program, implemented in several areas of the city, collected P8.9 million or 14.10 percent higher than their P7.8 million target.
This was despite stopping their collections on four national roads 鈥� General Hughes Street, Arroyo Street, Fort San Pedro Drive, and Timawa Avenue.