MANILA -– The Bureau of Internal Revenue yesterday reported the 14.78 percent year-on-year increase in its collection in the first quarter of 2012.

In a statement, the BIR said revenues from January to March this year totaled to P229.04 billion, up by P29.5 billion than the P199.54 billion in end-March 2011.

The Bureau noted that amid the non-recurring collection amounting to P13.3 billion in March last year, still, it was able to surpass last year’s collection.

ADB urges Asian gov’ts:
Tackle rising income gap

The Asian Development Bank yesterday urged regional governments to tackle rising income inequality with more urgency, warning any delay could undermine social cohesion and economic growth.

Rajat Nag, ADB's managing director-general, said failing to address the problem now could spark further dissatisfaction and lead governments to resort to populist measures to appease their citizens.

But populist measures like fuel subsidies and cash grants are taxing on state coffers and could result in financial instability in the longer term, he said.

Capitol to distribute
P3.6M worth of gilts

The Provincial Veterinary Office of Negros Occidental will distribute the P3.6 million worth of gilts to all hog raisers association and breeding centers in the province Friday under the Provincial Animal Genetic Improvement Program on Swine, Catheryn Narez, livestock coordinator said yesterday that, PVO will disperse 200 gilts that cost P18,000 each and the turnover will be held at the DC Cruz Showroom, in Brgy. Taloc, Bago City.

She said they chose the Pig Improvement Company’s gilts because of the animals’ higher size, higher wearing weight, and good mavering ability. The farm’s meat products are also of high quality with low back fat thickness, she added.