GBP pays in advance its realty tax to Iloilo City
Global Business Power Corporation (GBP), through subsidiaries Panay Energy Development Corporation (PEDC) and Panay Power Corporation (PPC), remitted in advance its real property tax payments amounting to P147.9 million for the second quarter of the year 2020. PEDC and PPC paid over P109.2 million and P38.7 million, respectively.
Iloilo City Mayor Jerry P. Treñas had requested taxpayers to pay their business and property taxes in advance as the city continues to combat the effects of COVID-19 and the decline in revenue as business activity slows down.
“We are one with Iloilo City in its battle against the COVID-19 pandemic,” said GBP President Jaime T. Azurin. “We are committed to further boost and support the city government’s efforts to protect the citizens of Iloilo City against the coronavirus.”
Last month, GBP also facilitated the immediate remittance of P15.3 million to the city government. The amount represented Energy Regulations 1-94 (ER 1-94) Program funds or the share of Iloilo City from the electricity sales of GBP subsidiaries, PEDC and PPC.
GBP was responding to the call of the Department of Energy allowing utilization of ER1-94 funds for COVID-19 response to help local government units in their fight against the pandemic. GBP, through its subsidiaries, is an independent power producer in Visayas, Mindanao, and Mindoro, with a total gross capacity of 1,091 MW.
