Business and Leisure | BIZWATCH: TRAIN Revenues to Fund 2019 Infrastructure Projects

As TRAIN gets moving on a faster pace, the Filipinos will see at least five infrastructure projects in 2019 funded by revenues from the program.

Budget Secretary Ben Diokno told the Committee on Finance in a recent hearing that proceeds from TRAIN will be allocated for the implementation of our flagship infrastructure projects in 2019.

Among the projects to be funded by TRAIN next year is the construction of sports facilities of the National Government Administrative Center which is part of the New Clark City. This project will be implemented by the Bases Conversion and Development Authority with a cost of P9.5 billion.

Other projects include the Subic-Clark Railway Project which will cost P2.9 billion and the Ambal-Simuay River and Rio Grande de Mindanao River Flood Control Projects of the DPWH with a combined funding of P2.6 billion. Among the infra projects also are the New Cebu International Container Port with a cost of P200 million, and the priority bridges crossing Pasig River and Manggahan Floodway Bridges costing P600 million.

According to estimates from the Dept. of Finance, TRAIN is expected to generate an additional P89.9 billion in revenue for 2018 alone. By next year, the DOF expects to generate P181.4 billion when combined with other tax revenue sources.

By 2019, TRAIN will also help mitigate the effects of inflation through the unconditional cash transfer program which has an allocation of P37.6 billion for 2019 as compared to P25.7 billion allocation for 2018. Through this program, cash subsidies will increase to P3,600 annually from only P2,400. Also included is the Pantawid Pasada program with a funding of P3.9 billion for 2019, and the rollout of the PUV Modernization program with a budget of P2.7 billion.

There is much to look forward to in 2019 and this can only look good for the Filipino people.