How much does Manila owe Meralco?

MANILA - The city of Manila has started paying its huge power and water bills. Former President and now Manila Mayor Joseph Estrada on Thursday said his administration inherited 613 million pesos in unpaid electricity costs and some 57 million pesos in unpaid water bills. The Bureau of Internal Revenue has also sent the city a collection letter for some 684 million pesos in tax liabilities for withholding taxes that were allegedly not remitted to the revenue agency. Estrada said though the city has yet to pay off its tax bill, efforts are underway to improve its fiscal position by raising real property taxes. "What I did was to raise the real property tax because they have not raised that for the last nine years. There is no resistance," he said. "The last collection during the time of my predecessor is less than P6 billion a year. Now we might double that. We see to it that every single cent goes to the city's coffers." ANC DATELINE PHILIPPINES, June 19, 2014