Tribes want additional P50T subsidy
City Mayor Jerry Treņas confirmed yesterday (Tuesday) that the 20 competing tribes in this forthcoming Dinagyang Festival are asking an additional financial support of P50,000 from the Iloilo Dinagyang Foundation Inc. (IDFI).
As this developed, Treņas said he will take up with the IDFI the possibility of extending another round of assistance to the different competing tribes. At the outset the mayor said the foundation could not yield to their request since they have yet to receive the P8 million sponsorship from major sponsor Smart Telecom.
Earlier, IDFI executive director Ben Jimena said they have already released some subsidies to the tribes. The assistance varies depending on their performance in last year's competition.
In the IDFI ruling, those tribes within last year's top ten but has joined the contest for the last three years will receive a 50 percent financial assistance and those tribes within last year's top ten but has joined the contest only last year will receive a 25 percent financial assistance.
Tribes which ranked number 11 and 12 but has joined the contest for the last three years has a financial assistance of 50 percent, for the rank 11 and 12 but has joined the contest for the last two years will receive 25 percent financial assistance and for those tribes which rank 11 and 12 but has joined the contest last year will receive 10 percent financial assistance.
Meanwhile, Jimena said Smart Telecom has already informed them that they will release 50 percent of the P8 million which is P4 million on Tuesday and another P4 million on Friday.
The release was delayed because of the policies that the cellular company is imposing. At first they want only to release the P4 million before the event and the remaining P4 million will be released after the event, said Jimena.
The IDFI argued that they also need the money to run the activity. It was then that they came into a compromise that the initial P4 million will be released Tuesday and the rest on Friday, said Jimena.
Jimena added that they have already borrowed P2 million from Dynasty Finance for their initial expenditures. So far, the foundation has received some P1.2 million from its sponsors and they have a seed money of P1 million.
The executive director said they need some amount for contingencies as there are committees in the Dinagyang which requires immediate release of funds.
Meanwhile, Jimena said the provincial government of Iloilo has yet to give their pledge of P200,000 for last year's Dinagyang.
Jimena said IDFI will collect said amount to be used for this year's festivities.