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Manila Mayor Joseph ‘Erap’ Estrada on Thursday handed over P200 million to the Bureau of Internal Revenue Commissioner Caesar “Billy” Dulay to finally settle the city government’s 2007 tax liabilities left unpaid by former mayors Atienza and Lim.
With the payment, Estrada said the City of Manila is now totally debt-free.
When he assumed office as mayor in 2013, Estrada inherited a bankrupt administration that had unpaid of over P5 billion, with over P630 million in overdue bills to Meralco.
In 2015, Estrada declared the city debt-free after instituting various fiscal reforms that provided it with sufficient revenues to undertake infrastructure projects that would renew the city’s position as a prime financial, business and tourism hub.
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