Cebu Capitol revenues drop 5 percent

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The Cebu Provincial Government’s revenues from January to March this year fell 5.08 percent compared to the same span of months in the previous year, SunStar Cebu reported.

Provincial Treasurer Roy Salubre said the Capitol collected P1.11 billion from January to March this year. The provincial government collected a total of P1.68 billion in 2018.

Salubre attributed the high revenues during this period last year to the sale of the Cebu International Convention Center to the Mandaue City Government for P300 million.

“It was an extraordinary sale. The property was sold last year so the revenues were higher,” he said.

The Capitol aims to collect P4.07 billion in revenues this year.