MANILA -- The Intergovernmental Fiscal Policy Board (IFPB), one of the first Intergovernmental Relations (IGR) bodies that was created and organized under the Bangsamoro Organic Law convened for its 4th meeting on Thursday, December 1, in Davao City. This is co-chaired by Finance Secretary Benjamin Diokno and BARMM Minister for Finance, Budget and Management Ubaida C. Pacasem.
The main function of the IFPB is to deal with revenue imbalances and fluctuations in the regional financial needs and revenue-raising capacity of Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Specifically, the body shall recommend fiscal policy adjustments and other tax collection measures for the BARMM.
THE IGFP discussed 17 items on the agenda, including the digitalization of the tax system of BARMM.
This is aligned with the administration’s 8-Point Socioeconomic agenda in ensuring sound fiscal management and enhanced bureaucratic efficiency through digital transformation. To further achieve this agenda, IFPB commits to establish and maintain positive and constructive relations to ensure that BARMM’s financial needs are met and that the region’s revenue-raising capacity is enhanced.
The 5th IFPB meeting will be convened on March 1, 2023 in Manila.
Aside from the IFPB, The Intergovernmental Relations Body (IGRB), composed of leaders from both the National and Bangsamoro governments conducted its 12th meeting and press conference to discuss matters related to the local development of the BARMM. (DBM)