SBMA releases P203.14-M to LGU
SUBIC BAY FREEPORT — A total of P203.14 million in revenue shares were distributed by the Subic Bay Metropolitan Authority (SBMA) to local government units (LGU) on Monday at the Subic Bay Yacht Club.
SBMA Chairman and Administrator Wilma Eisma pointed out that the LGU shares are given to augment local resources and enable stakeholder communities to carry out development projects in health, education, peace and order and livelihood generation.
“This is another way by which the SBMA promotes inclusive growth in the locality, aside from generating employment opportunities for local workers,” Eisma said.
She released the semi-annual revenue shares to LGU executives of Olongapo City and the towns of Subic, Castilejos, San Marcelino and San Antonio in Zambales, and Hermosa, Morong and Dinalupihan in Bataan.
Olongapo City got the biggest share with P47.24 million, followed by Subic with P31.05 million, San Marcelino with P26.34 million Dinalupihan with P25.26 million, Hermosa with P21.15 million, Castillejos with P19.01 million, Morong with P17.65 million and San Antonio with P17.41 million.
Monday’s releases brought the total amount received by contiguous LGUs to P2.07 billion since February 2011 when the SBMA started directly releasing the revenue shares to them.
As 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.