With local governments also on the front line in the battle against the COVID-19 pandemic, the Department of Finance (DOF) has made it easier for them to borrow especially during the one-month quarantine being implemented in Luzon and other parts of the country.
The DOF’s Bureau of Local Government Finance (BLGF) last March 23 issued Memorandum Circular No. 7-2020 allowing the agency to process and issue local government units’ (LGUs) certificate of net debt service ceiling and borrowing capacity electronically.
Executive Director Niño Raymond B. Alvina said electronic transactions between the BLGF and local treasurers would “ensure that LGUs that will use credit financing as additional source of funds for the provision of goods and services, in response to COVID-19, will be assisted immediately by this bureau.”
“All concerned BLGF officials and employees shall endeavor to process LGU requests expeditiously within the shortest possible time, after following the prescribed procedures. The committed service standard for end-to-end processing of every LGU application shall in no case exceed 15 working days due to the present work-from-home and remote-based operations of the bureau. It is reiterated that all precautions and directives of proper authorities on COVID-19 shall be strictly complied with to ensure the safety of all concerned,” Alvina said.
Also, the BLGF put up a list of LGUs that had extended local tax payment deadlines amid the lockdown.
To date, 11 cities extended temporary relief to their taxpayers, namely Biñan, Davao, Iloilo, Koronadal, Las Piñas, Makati, Muntinlupa, Parañaque, Pasig, Quezon and Valenzuela. —Ben O. de Vera