CLARK FREEPORT Subic Bay Metropolitan Authority (SBMA) officials met with local chief executives and representatives of this premier Freeport’s neighboring local government units (LGUs) to distribute a total of 178.7-million revenue shares.
During the event, SBMA Chairman and Administrator Rolen C. Paulino welcomed the mayors and their finance officials at the Terrace Hotel for a short program.
“This is the second time we are doing it face to face since restrictions of the Covid-19 pandemic eased up. And as we slowly go back to our usual activities, I hope that these revenue shares would greatly help augment developments in their respective communities,” Paulino said.
“Because the SBMA and LGUs support one another, extending to them their share of our revenue is just appropriate. After all, we all are committed to protect the Freeport for our future generations,” the SBMA chief added.
SBMA Senior Deputy Administrator Ramon Agregado said SBMA performance has improved in 2022 with higher revenues generated, and more business projects in the pipeline.
He said a few projects in the pipeline will generate a better outlook for the Freeport for the rest of the year.
Periodical figures show that the second semester revenue shares increased from 140,602,568.18 to 178,705,824.54 for the second semester of 2021 and 2022, respectively, by 27.1 percent.
Paulino said the increase is attributed to the Fast, Friendly, Flexible service implemented when he assumed his post.
He added that the shares are derived from the 5 percent corporate taxes paid by business locators in the Freeport.
These are expected to promote parallel development in neighboring communities and enhance LGU projects in tourism, infrastructure, education, peace and order, health, and livelihood generation.
The mayors and finance officials expressed gratitude for the revenue shares, especially since they received larger amounts for their first tranche this year.
“Castillejos, Zambales is a third class municipality. A very small community and the revenue we generate is not enough. I am grateful to the SBMA for this revenue share, which is a big help for our finances, and more so because of the 4-million increase from last year,” Mayor Jeffrey Khonghun said.
“Our youth, our students in Dinalupihan, Bataan are thankful to the Freeport workers for their benefit from the tax they pay. We pray for good health for everyone so we can all serve our constituents,” Mayor Herman Santos, Jr. said.
During the pandemic, distribution of LGU shares was done on appointment basis to avoid crowding, in compliance with health protocols being enforced in the SBF.
For the collection period of January to December 2022, the SBMA has released a total of 319.3 million revenue shares, which is computed according to population (50 percent) land area (25 percent), and equal sharing (25 percent).
The biggest LGU beneficiary for this period is Olongapo City, which received a total of 41,779,273.37. It is followed by Subic, Zambales with 26,842,905.77; Dinalupihan, Bataan with 22,257,027.69; San Marcelino, Zambales with 21,461,412.26; Hermosa, Bataan with 19,103,262.77; Castillejos, Zambales with 16,277,249.93; Morong, Bataan with 15,780,896.32; and San Antonio, Zambales with 15,203,796.43.
Revenue shares are released twice a year—August for the first semester, and February of the following year for second semester.