Palawan is among the 10 richest provinces in the Philippines with total assets worth P11.27 billion in 2018, says an annual financial report by the Commission on Audit (COA).
Provincial spokesperson Winston Arzaga attributed this to the province’s tax and revenue collection.
“Masaya tayo sa balita na ‘yan. Mayaman naman talaga ang Palawan. Ang mga ‘yan ay galing sa ating mga taxes from different companies. Magandang indikasyon kung tumaas man ang ating total assets,” he said.
Palawan’s assets have increased by at least P1.1 billion from its previous recorded total assets worth of P10.15 billion in 2017, said Arzaga
He also emphasized that Palawan is not only one of the richest provinces in terms of Internal Revenue Allotment (IRA) but also in its natural resources.
“Mayaman naman talaga ang Palawan not only in IRA but also in our natural resources,” he said.
The province of Cebu was the wealthiest with a total of P35 billion assets, according to the report.
Second was Compostela Valley with P19 billion, followed by Batangas with P18.1 billion, Rizal with P18 billion, Bukidnon with P15 billion, Negros Occidental, P14 billion, Laguna, P11.5 billion, Iloilo, P11.4 billion, and Zambales, P11.24 billion.
The COA report also showed Makati City as still the country’s wealthiest city with total assets worth P230 billion in 2018.