By Joey Pavia / Correspondent
CLARK FREEPORT—The Clark Development Corp. (CDC) said the state-run firm’s revenues from 2013 to 2015 reached P4.11 billion.
The CDC’s economic highlights were reported by President Arthur P. Tugade before a hundred businessman-members of Metro Angeles Chamber of Commerce and Industry during the recent general assembly meeting at the Widus Hotel and Casino here.
The CDC included the projected revenue for the second semester of 2015. Tugade, a lawyer, was appointed at the CDC by President Aquino in December 2012
Tugade said CDC generated revenues totaling P10.57 billion from 1996 to 2012.
He showed the performance highlights of CDC where the net income from 2013 to 2015 has reached P1.486 billion, while the net income from 1996 to 2012 is only P1.436 billion.
The economic performance also highlighted the average ending cash level per year (from 1996 to 2012) is only P649 million, while during the 2013 to 2015 period is P1.747 billion. Tugade added that cash level of CDC to date stands at P2.3 billion.
It also paid dividends to the National Treasury of P720 million from 2013 to 2015, compared to the P634 million contributed by CDC from 1996 to 2012. The economic performance of the Clark Freeport was due to the sound economic atmosphere, including the policy reforms instituted in view of the matuwid na daan of President Aquino.
Tugade also reported that in 2012 there are only 606 locators in the free port, but as of June this year, CDC was able to record 781 actual locators operating inside the free-port zone.
He also reported that from 2013 to 2015, actual employment number has risen to 80,977. By the end of 2016, actual employment figure may breach the 100,000 mark.