MANILA, Philippines - The Subic Bay Metropolitan Authority (SBMA) allotted a higher budget for infrastructure development in 2015 following three consecutive years of outstanding financial performance.
SBMA chairman Roberto Garcia said the SBMA allocated a total budget of P302.5 million to fund eight major infrastructure projects last year or more than 10 times the P28.6 million allotted in 2014.
SBMA said the amount was used to fund the repair of service roads and renovate its buildings and facilities in the freeport.
“Subic is not only the first freeport, but the largest and most progressive in the country, and we want to keep it that way,” Garcia said.
According to Garcia, the agency had very limited cash to fund even the minor repair of its roads and buildings back in 2013.
“However, because of the dedication of SBMA officials and employees to improve the agency’s performance in 2014, the agency managed to allocate P28.63 million for infrastructure. The amount was insufficient but at least, we were able to start minor repairs on our roads and buildings,” he said.
Garcia said the shortage of funds in the past years had led to some embarrassing situations, like when a group of investors visited his office during a rainy day and water started dripping from the ceiling.
“That is why as a reward for another successful year, we have allotted P3.19 million for the repair and waterproofing of the concrete roof at Building 229, which is the SBMA administration building,” he said.