BY GEROME DALIPE IV
ILOILO City – The city government’s Local Economic Enterprise Office (LEEO) achieved an impressive milestone by collecting P9.4 million in December 2024, surpassing its target of P6.7 million.
LEEO head Maricel Mabaquiao reported that the office’s total collections for 2024 reached P100 million, exceeding the P81.4-million target.
Mayor Jerry Treñas commended the LEEO for this achievement, noting it was the first time the office overcame past financial struggles, including deficits that hindered salary and utility bill payments.
Additionally, the pay parking program contributed P8.9 million, surpassing its P7.8 million target for the year.
Treñas expressed optimism that the ongoing renovation of Iloilo City’s new markets would further boost income, enabling the city to pay off other loans.
While the Central and Terminal Markets are exempt from loans due to a Public-Private Partnership (PPP) arrangement, revenue from other markets is expected to contribute to the city’s financial stability and provide enhanced services to Ilonggo constituents.
The PPP between the city government and SM Prime Holdings, Inc. (SMPHI) focuses on modernizing the Iloilo Central Market and the Iloilo Terminal Market.
Under the 25-year lease agreement, signed on July 29, 2022, the total project cost is P3 billion (P1.5 billion for each market).
The redevelopment will improve facilities and increase the number of stalls, benefiting both vendors and customers.
The Iloilo Central Market was expected to open by December 2024, with an expansion of 285 to 300 additional stalls, bringing the total from 600 to around 900 stalls.
The Iloilo Terminal Market will also expand, increasing from the original 800 to a total of 1,250 stalls.
Treñas attributed these successes to the dedication of the LEEO, market vendors, pay parking personnel, and the wider community.
He extended his gratitude to all who contributed to the success and encouraged continued collaboration for even greater milestones for Iloilo City in the future./PN
