Mayor Isko tells 2 public market operators to pay P25M for failure to remit LGU revenue share

Manila Mayor Isko Moreno on Tuesday urged two companies that operate several wet markets and shopping centers in the city to pay more than P25 million over their supposed failure to remit the local government’s revenue share for two years.

Moreno made the announcement via live video in his official Facebook account, where he enumerated the unpaid financial liabilities of Mall companies XRC Mall Developers Inc. and Marketlife Management and Leasing Corporation, which both operate several malls in Manila.

“Itong companies XRC Mall Developers Inc. and Marketlife Management and Leasing Corporation… sila ay hindi nagbabayad sa siyudad ng Maynila for the past two years from April 2017 to July 2019, he said.

The two companies entered into a joint venture agreement with the past administration under former Manila Mayor Joseph Estrada, in line with privatization of public markets. The deal obligates them to remit a revenue share to the city every year, Moreno said.

XRC operates the Sta.Ana Market, San Andres Market, Sampaloc Market, and Trabajo Market, while Marketlife operates Quinta Market.

According to Moreno, XRC has a total unpaid obligation amounting to P14,388,000, while Marketlife owes the local government P11, 161,750.

The total unpaid obligations are the sum of the unremitted guaranteed annual revenue share (GARS), penalty fees, and surcharges.

Moreno said the city government will take over the five privatized public markets in 72 hours if they fail to pay.

“Binibigyan ko po kayo ng 72 hours to pay your obligation to the people of Manila and the city government,” Moreno said.

“In the absence of payment we will force to implement the provision of the contract to invalidate or at least strike down your contract,” he added.

GMA News Online is still trying to reach the two companies for comment. — MDM, GMA News