	philippines sees government revenue up pct philippine government revenue is expected to rise pct to billion pesos this year from billion in finance secretary jaime ongpin said in a report to president corazon aquino on his department s performance during the year ended february ongpin said at least billion pesos were expected to accrue from new tax reform measures announced last year he said the goal for official development assistance oda this year is two billion dlrs adding that aid donors have committed oda inflows of billion dlrs in up pct from billion in ongpin said steps planned to provide a sound revenue base included a value added tax vat system due to be introduced in he gave no other details he said treasury bill maturities  rate levels and the volume of government securities sold to the private sector have improved significantly in particular short term prime  rates which had gone over pct in are now down to less than pct he said ongpin said the government s debt equity scheme introduced in august last year had attracted more than mln dlrs worth of applications but selective evaluation had resulted in approvals of only mln dlrs at end february he said his department aims to accelerate its privatisation program and the sale of non performing assets owned by associates of former president ferdinand marcos to achieve a sales target of four billion pesos which would help finance land reform aquino said earlier this month that all the billion pesos the government hopes to raise from the sale of the failed companies will be used to finance the land reform plan ongpin also said the government would pursue efforts to obtain mln dlrs in concessional funding for the program from a world bank led consultative group of multilateral and bilateral aid donors the government has said the land reform plan aims to distribute mln hectares of land to poor peasants reuter 
