| Benguet gets P11M from Napocor GA_googleFillSlot(“Philippine_areas_incontent_mediumrectangle300×250″);
BENGUET finally got its share for being one of the host localities in the operations of San Roque Multipurpose Dam. Officials of the National Power Corporation (Napocor) on Thursday turned over a check amounting to more than P11 million, containing the province share from the National Wealth Tax (NWT) derived from San Roque Dam operations. Benguet earlier entered into a memorandum of agreement (MOA) with the Pangasinan Provincial Government for an equal sharing from the taxes derived from San Roque. Napocor lawyer Melchor Ridulme said Pangasinan’s share will be released next month. He explained that the year covered by the amount started from 2004 only because the release was based on the time San Roque started operating commercially. The power plant began its operations in 2001. Benguet was given a share of P11,977,264.11 from 2004 to the first quarter of 2008. Pangasinan will receive the same amount. The municipality of Itogon and two barangays will soon get their respective shares amounting to more than P23 million and P21 million, respectively. Benguet asserted its right to share from the NWT from San Roque, saying the water which runs the power facility comes from the province. Under the Local Government Code, host communities are entitled to share from the proceeds derived from the utilization of their natural resources. For power plants, host localities are entitled to one percent from the 55 percent of actual sales from the generated power. Governor Nestor Fongwan said the release is only among the several payments his administration will be asking from Napocor. Pending in courts are the province’s demands for franchise and real estate taxes for the operations of Binga and Ambuklao dams, formerly owned by Napocor. sunstar baguio |
June 27, 2008...5:53 am
Benguet gets P11M from Napocor
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