The Subic Bay Metropolitan Authority (SBMA) has released a total of P124 million representing the first half revenue share of local government units adjacent to and affected by the operation of the Subic Bay Freeport Zone in Zambales.
The amount, up 32 percent from P93.7 million in the same period last year, is expected to benefit some 600,000 residents.
In a statement, SBMA chair Roberto Garcia said the increase was due to higher profits earned by both the agency and the locators during the period.
“The first semester saw a much improved business environment in the Freeport, which paved the way for better bottom lines and the start-up operations of many new locators,” he said.
Of the P124 million, the biggest share of P30 million will be allotted to Olongapo City, while the town of Subic will receive P18.5 million. Castillejos will get P10.6 million; San Antonio, P10.9 million; and San Marcelino, P8.7 million.
The province of Bataan Dinalupihan will have P15.6 million; Hermosa with P12.7 million; and Morong, P10.7 million.
Garcia said the LGU revenue shares “are intended to augment local resources and enable stakeholder communities to undertake development projects in health, education, peace and order, and livelihood generation.” The funds were made available last week.