The counterproposal adding a small amount to its previous offer of P1 million annually presented by the Bacolod Real Estate Development for the increase in compensation for the management and operation of the Bacolod port is still unacceptable to the city.

Secretary to the Mayor Roger Balo, spokesperson of the city negotiating panel, yesterday said BREDCO proposed an amount just a little higher than the P1 million it had earlier offered against its present P800,000 annual rental.

During the caucus yesterday, the BREDCO panel requested for another meeting between today and the March 6 deadline because the two parties could not come up with an agreement.

We only want to protect the interest of the city because it is a generally accepted fact that it owns the Bacolod port, Balo said. Balo said BREDCO failed to present the true picture of its finances especially the amount it actually spent in the construction of the port and how much it has earned from its operation. We came up with the P17.5 million proposal which is based on the data validated by the Philippine Ports Authority, he said.

Balo said BREDCO declared a gross income of only about P89 million in 2005, but based on PPA's record for 2004, the income of BREDCO from wharfage was P17.5 million and P109 million from arrastre.

It is therefore a fact that the report of PPA and BREDCO's declaration of its gross income with the City Treasurer's Office are inconsistent, Balo said.*CGS

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