Manila Mayor Joseph “Erap” Estrada on Friday assured that the city government has already settled its obligation with the Government Security Insurance System after the Manila City hall paid more than P200million in unpaid premiums.
The city government has an outstanding liability of P204,215,076.45, representing employee contributions that had not been remitted before Mayor Estrada took office in 2013.
Mayor Estrada said that the city government’s financial management remains good and stable and can mend monetary responsibility with concerned private and government agencies.
“The city government has enough financial budget to pay its obligation, and in fact, we already settled the P200 million the city government owned to the Bureau of Internal Revenue Commissioner Caesar left unpaid by former mayors Atienza and Lim,” Mayor Estrada said.
With the payment, Estrada said the City of Manila is now totally debt-free.
