Operators of 5 Manila public markets owe city P25.54 million – Isko » Manila Bulletin News

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Operators of 5 Manila public markets owe city P25.54 million – Isko

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By Erma Edera

Manila Mayor Isko Moreno has urged two companies, which are operating five public markets in the city, to pay P25.54 million in unpaid obligations, representing the local government’s revenue share for two years.

(MANILA PIO / MANILA BULLETIN)

(MANILA PIO / MANILA BULLETIN)

“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, ” the mayor said via live video in his Facebook official account.

Moreno gave the two companies 72 hours to pay their debts. And if they fail to do so, the city government will take over the five privatized public markets, he added.

“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 be forced to implement the provision of the contract to invalidate or at least strike down your contract,” he added.

In his live video, the Mayor enumerated the unpaid financial liabilities of XRC Mall Developers Inc. and Marketlife Management and Leasing Corporation, which are operating five of the city’s public markets.

The Mayor said XRC has a total unpaid obligation of P14,388,000, while Marketlife owes the city P11, 161,750.

XRC operates the Sta.Ana Market, San Andres Market, Sampaloc Market, and Trabajo Market. It incurred a P14.38-million debt between April 2017 and July 2019.
Marketlife, which operates Quinta Market, had P11.16 million in unpaid obligations in the same period.

The total unpaid obligations are the sum of the unremitted guaranteed annual revenue share (GARS), penalty fees, and surcharges that should be remitted to the local government.

XRC Mall Developers Inc and Marketlife Management and Leasing Corporation entered into a joint venture agreement with the previous administration.

However, they never remitted the city’s guaranteed annual revenue share since 2017, Moreno said.

The deal obligates them to remit a percentage of revenue share to the city every year, he added.

The Manila Bulletin is still trying to reach the two wet market operators for their comments.

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