THE release of Baguio City Government's share from past operations of locators inside the Baguio Economic Zone has long been pending and moves for its release have been asked anew.
Vice Mayor Daniel Fariñas said the P125 million, which has yet to be turned over to Baguio, should be released because the amount is needed for various city projects.
The vice mayor said, in a proposed resolution calling for the amount's release, that the amount is badly needed for the rehabilitation of the Athletic Bowl, which is currently badly is badly in need of repair.
"The 125 million tax share has long been overdue and has been pending for several years now for still unknown reasons," Farinas said.
The P125 million represents the city's shares from the National Government when remittance of gross income was not yet directly remitted to the host local government.
The BCEZ now remits shares directly to the city after a law was passed allowing the transaction.
In reiterating the City government's plea for the amount's release, Fariñas said Baguio could only proceed with the hosting of various local and national sports events if the Athletic Bowl is repaired.
The development of the Athletic Bowl has been stalled after Baguio residents protested its improvement by a foreign investor. (Rimaliza Opiña)