Bangsamoro gets bigger chunk of wealth

From ABS-CBN (Jul 14): Bangsamoro gets bigger chunk of wealth

Muslim rebels were able to clinch a deal in favor of the Bangsamoros late Saturday night, one of the major hurdles that would finally lead to the elusive peace in Mindanao.

The peace panels finally completed the wealth-sharing annex, with the biggest chunk going to the side of the Moro Islamic Liberation Front (MILF).

Government chief negotiation Miriam Coronel-Ferrer told ANC that 75% of the national taxes collected within the areas of jurisdiction will go to the Bangsamoro, while 25% will go to the national government.

In terms of revenues from the natural resources such as metallic minerals, the Bangsamoro will also get 75% and the national government will have a share of 25%.

Both will have an equal share in revenues from energy resources, Coronel-Ferrer said.

Different arrangements have been agreed upon for other aspects in the wealth-sharing annex, which is composed of eight pages. “It contains different sections, which try to operationalize the goal of providing a fiscal arrangement that will enable a very good measure of fiscal autonomy,” she said.

Coronel-Ferrer said, however, that the compromise last night is not the end of lengthy discussions that have yet to come.

Both panels will have to meet again to finish two more annexes -- power-sharing and normalization. “I can imagine these will just be as intense,” she said.

The two panels are expected to meet again next month after the Ramadan.

Negotiations on the wealth-sharing lasted six days amid deadly attacks by a splinter group, the Bangsamoro Islamic Freedom Fighters.

http://www.abs-cbnnews.com/nation/07/14/13/bangsamoro-gets-bigger-chunk-wealth