P50 million earnings targeted

Stall renters who sell ready-to-wear garments and appliances or utensils will have 20 percent discount, while a rental discount of 10 percent will be given for food (carenderia) and snack (painitan) stalls.

The New Mandaue City Public Market requires at least P50 million in annual earnings to sustain its operations, market administrator Musoline Suliva said yesterday.

He added that through the Market Authority headed by Mayor Jonas Cortes and a feasibility study conducted, they had pegged the attainable amount for its maintenance and operational costs yearly.

The new public market provides around 1,340 stalls which are categorized as either prime and regular spots. More than 800 stalls are already occupied in the ground floor, while 540 tenants have already settled at the second floor.

At the same time, the Mandaue City council through its Market committee headed by Councilor Jimmy Lumapas adopted an ordinance imposing discounts to stall renters for the period of 26 October to 30 November.

Lumapas told the Daily Tribune that this was the request of the vendors as the operation of the new public market has just started operations and sales are still on its pick-up period.

He explained further that stall renters who sell ready-to-wear garments and appliances or utensils will have 20 percent discount, while a rental discount of 10 percent will be given for food (carenderia) and snack (painitan) stalls.