SUBIC BAY FREEPORT -- A total of P54 million revenues shares were distributed on Thursday, September 10, 2020, to eight neighboring communities here.
The said amount was revenue shares of local government units (LGUs) for the first semester despite the global economic downturn caused by pandemic, said Subic Bay Metropolitan Authority (SBMA) chairman and administrator Wilma Eisma.
Eisma handed over the checks to officials from the beneficiary LGUs who arrived at the SBMA office in succession to observe social distancing.
Olongapo City remains to be the recipient of the biggest share with P36,020,102.98; followed by Subic, Zambales with P23,677,221.95; Dinalupihan, Bataan P19,262,853.00; San Marcelino, Zambales P18,561,184.24; Hermosa, Bataan P16,125,939.80; Castillejos, Zambales P14,496,222.41; Morong, Bataan P13,458,376.24; and San Antonio, Zambales P13,271,704.95.
The latest LGU release was taken from the agency’s revenue collections from January to June this year.
The LGU share is determined according to population (50 percent), land area (25 percent), and equal sharing (25 percent). Olongapo, which is a highly urbanized city, always received the biggest chunk of the shares.
The shares are given to LGUs twice a year and are derived from two percent of the five-percent gross income taxes collected from business locators in the Subic Bay Freeport Zone. Shares for the January to June period are released in August, while shares for July to December are given out in February the next year.
Eisma stressed that the LGU shares were meant to augment local resources and enable stakeholder communities to carry out development projects in health, education, peace and order, and livelihood generation.
She also pointed out that the total LGU shares given out this semester decreased a bit from the P175.7 million given out for the July to December period last year because of the slowdown in local business because of the Covid-19 pandemic.
Meanwhile, Mayor Elvis Soria of San Marcelino, Zambales said the LGU shares would be a big boost to local communities as they grapple with the effects of the pandemic.
“While the LGU shares are usually budgeted for development projects, we hope it can be realigned for use in our Covid-19 response, too,” Soria said.
The LGU of Morong, Bataan had requested another schedule for the release of its share.