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Thursday, October 20, 2005
Napocor assures town of share from dam project's proceeds
By Jane Cadalig
THE National Power Corporation (Napocor) has promised the local government of Itogon that it would not ignore its obligations, particularly on the town's claim, for a share from the operations of the San Roque Multi-Purpose Dam Project (SRMPDP).
A Napocor representative recently assured Itogon officials that the company would take action on their request for computation and release of Itogon's share from the national wealth taxes derived from the operations of the SRMPDP.
Peter Jude Bacalso, Napocor's officer-in-charge (OIC) for independent power producers (IPP) contracts management, told Itogon officials that they have already referred the request to their company's finance division.
"We referred the matter to our finance department, as that office is in a better position to review and validate the actual entitlement of your municipality from the national wealth tax. Rest assured that Napocor will continuously provide assistance to your municipality, in connection with your claim for a share, accruing from the operation of the SRMPD," he said in a letter addressed to Itogon Vice Mayor Noel Ngolob.
The Itogon Municipal Council earlier passed a resolution asking Napocor and the Department of Energy (DOE) to furnish them with the list of computed taxes due the town from the operations of SRMPD.
Mayor Mario Godio admitted that they are actually in a quandary on how the town could acquire its share from the national wealth taxes derived from the utilization of its resources.
It may be recalled that Itogon is also asking the National Government to immediately release the town's share from the taxes paid by Philex Mining Corporation.
The town claims that it is entitled to a share of around P34 million from the P85 million collected by the government from Philex.
The requested amount, which represents the 40 percent share of local government units (LGUs), covers the second and fourth quarters of 2003, and the first to third quarters of 2004.
Municipal officials here are asking President Gloria Macapagal-Arroyo, through Department of Budget and Management Secretary Romulo Neri, to cause the approval and release of their share.
They claimed that this would greatly help them in implementing development programs for their town and its constituents.
(October 20, 2005 issue)
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