BAGUIO CITY — The management of the Bases Conversion and Development Authority partially released P60 million as payment to the city government representing its accumulated share from the lease rentals of the Camp John Hay special economic zone over the past several years.
In a letter to Mayor Mauricio G. Domogan, Ariel Paciano D. Casanova, BCDA president and chief executive officer, said the amount was directly remitted to the management of the Government Service Insurance System as payment for the city’s acquisition of the P250 million in order to prevent the local government from accumulating continuous arrearages that would result to fiscal problems in the future.
Baguio City is entitled to 25 percent share from the lease rentals of the 246-hectare CJH special economic zone which was leased out to the Camp John Hay Development Corp. since 1997.
However, BCDA did not specify in its letter what are the years covered by the accumulated lease rentals although the same will still be subjected to reconciliation by the concerned agencies and the local government. -- Dexter See
........money again and where would this huge amount goes, in which pockets again???
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