Megawide Reaffirms Commitment to Affordable Rates for Carbon Market Vendors
In a significant development for Cebu's commercial landscape, Cebu2World Megawide has provided firm assurances to vendors operating at the Carbon Public Market that they will not be overlooked during the ongoing redevelopment project. The company's public affairs and marketing manager, Jynx Chanjueco Corp., emphasized that maintaining affordable rent and market fees remains a top priority, with any potential rate increases falling outside the company's jurisdiction.
Vendors as the Heart of Carbon Market
Chanjueco described vendors as the "heart and soul" of Carbon Market, highlighting their indispensable role in driving foot traffic and sustaining overall business vitality in the area. He stressed that keeping prices low is essential to ensure continued customer patronage. "If we neglect the vendors and prices increase, foot traffic will disappear. That will also affect other commercial businesses that will be established in Carbon," Chanjueco explained. He added that the Carbon Redevelopment Project is designed to benefit all stakeholders through the Joint Venture Agreement (JVA) between the Cebu City Government and Cebu2World Megawide.
Clarification on Rate-Setting Authority
Chanjueco clarified that Cebu2World Megawide does not possess the authority to impose or approve increases in rent and market fees. He stated that the power to set rates rests exclusively with the Cebu City Government, which must pass ordinances under the Market Code through the City Council. This delineation of responsibility ensures that any financial adjustments undergo proper legislative scrutiny.
Expected Cost Reductions for Vendors
Under the redevelopment plan, vendors—particularly ambulant vendors—are anticipated to experience lower overall expenses compared to current costs. Presently, ambulant vendors pay an estimated P400 daily, which includes:
- Market fees paid to the city
- Additional charges for barangay and association fees
- Tent and canvas rentals
- Weighing scale costs
- Electricity and storage fees
With the new market setup, vendors will no longer need to rent tents or canvases and will be provided with weighing scales. Utilities such as electricity and water will be metered and charged based on actual consumption. Furthermore, ambulant vendors listed by the Office of the City Markets will be assigned permanent slots, eliminating the need for daily setup and dismantling of stalls.
Current Fee Structure and Future Considerations
Chanjueco noted that Cebu2World Megawide has not collected any market fees to date, with collections remaining under the purview of the Office of the City Markets. Current rates are still based on the 2017 Market Code, including the P8.50 per square meter fee, which will remain effective until 2028.
He acknowledged that after 2028, there is a possibility of rate adjustments under the 2023 Market Code. However, any transition would require extensive coordination with various city departments, including:
- City Treasurer's Office
- City Legal Office
- City Administrator's Office
- Office of the City Markets
Chanjueco also mentioned that Cebu2World Megawide has proposed a three-month transition period to the City Government but reiterated that the company will strictly adhere to whatever is stipulated in the Market Code. "We are not the ones who decide on the amount or any increase in rates. We only rely on the Market Code passed by the city government," he concluded.
