THIS pertains to your news: Why Naga has the most number of banks in Bicol (BM, April 20, 2017). Please be informed that Legazpi City and Naga City [are] only 2nd Class Cites as per Memorandum Circular No. 01-C-08 and not classified as 1st Class Cities.
The said re-classification of cities was effectively implemented last July 29, 2008. Since then no re-classification was made.
As per record, Naga City and Legazpi City [are] classified as 2nd Class while Ligao, Tabaco, Iriga, Masbate and Sorsogon as 4th Class Cities.
While it is true that Naga City and Legazpi City had exceeded their average annual income of P400M or more to be classified as 1st Class Cities, we cannot simply re-classify them due to lack of law coming from the Congress. In the earlier times, the DOF had the power to re-classify cities, municipalities and provinces but the Congress questioned it up because they believe that re-classifying [cities] is under their power.
We are waiting for their actions since a bill has been filed for this.
Thank you and more power.
ARNEL S. LABRADOR
DOF-BLGF RO V
We stand corrected. Editor