Ifugao towns get P18 M from Magat Dam

BAYOMBONG, Nueva Vizcaya, Philippines – Ifugao communities hosting the Magat Dam received at least P18-million from the operation of the dam, one of Luzon’s major sources of power and irrigation.

SN Aboitiz Power (SNAP), one of the country’s major power providers, said the amount represents real property tax and national wealth tax payments for the third quarter of this year.

A Filipino-Norwegian consortium, SNAP owns and operates the dam’s power facility, which it acquired from the government for $530 million in 2007. The dam’s irrigation component, however, remains under the state-run National Irrigation Administration.

That year, SNAP also acquired ownership of the power facilities of the Ambuklao Dam and Binga Dam, both located in Benguet.

Lawyer Mike Hosillos, SNAP’s corporate communications head, said of the amount, P4.78 million went to the provincial government of Ifugao; P7.94 to the municipal governments of Alfonso Lista, Mayoyao, Aguinaldo, Lamut and Lagawe.

The 10 host barangays from the said municipalities also received a total share of P4.39 million.

SNAP also paid P756,000 as Ifugao’s share from the national wealth tax from the dam’s operation.

The adjoining province of Isabela, which also co-hosts the dam, received almost similar amount. Nueva Vizcaya, being a major watershed of the dam, is also receiving shares from the national wealth tax.