BY PERCY ROXAS

Subic Bay Freeport— A total of ₱178-million revenue shares is set to be released by the Subic Bay Metropolitan Authority (SBMA) to Olongapo City and seven municipalities contiguous to the country’s premier Freeport.

“The shares given to local government units (LGUs) are intended to augment local resources and enable stakeholder communities to benefit from the operations of Freeport businesses by augmenting the LGUs’ funds for development projects in health, education, peace and order, and livelihood generation,” says Eduardo Jose L. Aliño, SBMA chairman and administrator.

“These revenue shares, received from the locators’ gross income, are intended to create a parallel development between the Freeport and its nearby LGUs. SBMA is highly committed to support our neighboring localities by helping them improve the living conditions of their residents,” Aliño added..

LGUs contiguous to SBMA include Olongapo City, which will receive a net share worth ₱41.62 million; and the Zambales towns of Subic, which will receive ₱26.7 million; Castillejos (₱16.18 million), San Marcelino (₱21.37 million), and San Antonio (,₱15.13 million).

In Bataan, Morong town will receive ₱15.73 million, Hermosa ₱19.06 million, and Dinalupihan ₱22.17 million.

According to the SBMA Accounting department, the shares to be released accounted for two percent of the five percent tax on gross income paid for by free port locators for the period July to December 2023.

The other three percent of the taxes paid are remitted directly to the national government.

The LGU share is determined according to population (50 per cent), land area (25 per cent), and equal sharing (25 per cent).

Aliño said the shares given by SBMA to the neighboring communities would benefit almost 750,000 residents in the said areas.

Over the period of 10 years, LGU shares significantly increased by 118.94% from ₱81.3 million in 2014. This is attributed to the growing number of locators who continue to trust in the services accorded to them by the agency. FREEPORT INSIDER