Congress lauded over return of tax incentives in Clark
CLARK FREEPORT -- Officials and employees of the Clark Development Corporation (CDC) led by their president Levy Laus on Thursday thanked members of the bicameral conference committee for the immediate resolution of Clark bills that would restore tax incentives and duty free privileges to locators inside Clark Special Economic Zone (CSEZ).
In a prayer vigil held by members of the confederation of workers of CDC recently, the restoration of the tax incentives and other duty free privileges inside the ecozone will prevent "another Mt. Pinatubo disaster" in Clark because of the expected loss of jobs should investors decide to close shops here.
CDC vice president Pepito Galang said the bicam has reconciled Senate Bill (SB) 2260 and House Bill (HB) 5064 creating Clark as a "freeport," which prevailed over a proposal to declare half of the economic zone under the Philippine Export Zone Authority (Peza).
Galang said the bicam committee has also approved that CDC will continue to be the administrator of the 4,400-hectare economic zone, which will prevent the dislocation of hundreds of workers in the state-owned firm.
Under the present system, the Clark firm manages and operates 2,200 hectares of the zone, while its subsidiary Clark International Airport Corporation (Ciac) takes care of the other 2,200-hectare aviation complex that operates the Diosdado Macapagal International Airport (DMIA).
The CDC's dilemma started after the Supreme Court (SC) declared in July 2005 Clark and other former US military facilities-turned economic zones are not covered by Republic Act (RA) 7227 or the Bases Conversion Law.
The High Tribunal states that RA 7227 only cites the Subic Bay Special Freeport Zone (SMSFZ) is entitled to privileges being extended by the law. It affirmed its decision "with finality" in August last year.
Because of the SC ruling, the government has made a remedial measure to prevent locators from leaving the ecozone by subjecting the entire Clark as a Peza area so that most of the privileges could be extended to the more than 350 locators in Clark.
Laus thanked Senate and House members who have supported to honor the government's commitment to the local and foreign investors in Clark.
Among those who gave their all-out support were Senators Manuel "Lito" Lapid, Richard Gordon, Mar Roxas, Ralph Recto and Sergio Osmeña III, and Representatives Francis Nepomuceno, Juan Miguel "Mikey" Arroyo, Rey Aquino and Anna York Bondoc-Sagum.
Laus, who had been lobbying for the granting of tax incentives to Clark investors and locators, said Congress' decision "will have a tremendous impact not only on Clark but on the whole of Central Luzon."
Recto and Gordon fought for the freeport status of Clark by sponsoring the Senate bills in Congress.
President Gloria Macapagal-Arroyo is expected to sign the bill into law soon as this would boost her plans to make the Clark-Subic corridor into a major investments hub in the Asia Pacific region.
By Dante M. Fabian - Sun Star
In a prayer vigil held by members of the confederation of workers of CDC recently, the restoration of the tax incentives and other duty free privileges inside the ecozone will prevent "another Mt. Pinatubo disaster" in Clark because of the expected loss of jobs should investors decide to close shops here.
CDC vice president Pepito Galang said the bicam has reconciled Senate Bill (SB) 2260 and House Bill (HB) 5064 creating Clark as a "freeport," which prevailed over a proposal to declare half of the economic zone under the Philippine Export Zone Authority (Peza).
Galang said the bicam committee has also approved that CDC will continue to be the administrator of the 4,400-hectare economic zone, which will prevent the dislocation of hundreds of workers in the state-owned firm.
Under the present system, the Clark firm manages and operates 2,200 hectares of the zone, while its subsidiary Clark International Airport Corporation (Ciac) takes care of the other 2,200-hectare aviation complex that operates the Diosdado Macapagal International Airport (DMIA).
The CDC's dilemma started after the Supreme Court (SC) declared in July 2005 Clark and other former US military facilities-turned economic zones are not covered by Republic Act (RA) 7227 or the Bases Conversion Law.
The High Tribunal states that RA 7227 only cites the Subic Bay Special Freeport Zone (SMSFZ) is entitled to privileges being extended by the law. It affirmed its decision "with finality" in August last year.
Because of the SC ruling, the government has made a remedial measure to prevent locators from leaving the ecozone by subjecting the entire Clark as a Peza area so that most of the privileges could be extended to the more than 350 locators in Clark.
Laus thanked Senate and House members who have supported to honor the government's commitment to the local and foreign investors in Clark.
Among those who gave their all-out support were Senators Manuel "Lito" Lapid, Richard Gordon, Mar Roxas, Ralph Recto and Sergio Osmeña III, and Representatives Francis Nepomuceno, Juan Miguel "Mikey" Arroyo, Rey Aquino and Anna York Bondoc-Sagum.
Laus, who had been lobbying for the granting of tax incentives to Clark investors and locators, said Congress' decision "will have a tremendous impact not only on Clark but on the whole of Central Luzon."
Recto and Gordon fought for the freeport status of Clark by sponsoring the Senate bills in Congress.
President Gloria Macapagal-Arroyo is expected to sign the bill into law soon as this would boost her plans to make the Clark-Subic corridor into a major investments hub in the Asia Pacific region.
By Dante M. Fabian - Sun Star
posted by OlongapoCity Zambales at
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