SUBIC BAY FREEPORT | Nov. 16, 2023 — Without hesitation, the Senate approved the proposed P681-million budget of the Subic Bay Metropolitan Authority (SBMA) for fiscal year 2024 during its plenary session on Tuesday.

The proposal was sponsored by Senator Joseph Victor Ejercito and was approved without further interpellation by any member of the Senate during Plenary Session No. 30 presided by Senate President Juan Miguel Zubiri.

The 2024 appropriations for the SBMA focused primarily on the rehabilitation of the Subic Bay Freeport and facilities and will fund two continuing projects, mostly road and infrastructure.

Minority Floor Leader Senator Koko Pimentel readily approved the proposed budget, noting that that it was a reasonable amount of subsidy. 

Pimentel also expressed admiration for SBMA Chairman Jonathan D. Tan, noting the official’s friendly, pleasant and unassuming disposition, and that as a former mayor, Tan is competent to run the free port.

Pimentel also mentioned that the SBMA chief has revealed plans to fight smuggling “to the fullest extent of his authority as SBMA chairman and administrator.”

Meanwhile, Zubiri said that the Senate is in the process of amending the CREATE law purposely to return the powers to the economic zones. This is now a priority measure of President Ferdinand Marcos Jr., he added.

Zubiri also said that the Ways and Means Committee of the House has just passed and approved the version, “which basically brought it back to the old regime, because the new regime was not working, unfortunately.”

He then congratulated the SBMA for the two-minute interpellation and approval of the Agency budget. 