Metro
"Starting tomorrow, I think the papers are with me now, I will review the contracts that are proposed by the government panel to the Ayala and Pangilinan consortium," Duterte said in a televised meeting with
com in a text message that "the committee reviewing the water concession agreements will submit its final recommendations to the president this month." The finance department, which coordinated with the
The outcome of the contract review would determine whether
would remain as water distributors of the
Duterte said there is no other choice but to go to court to settle the row, a departure from his previous pronouncements that he would instead nationalize the water distribution systems. "You have to return the money to the people That's it and I'm okay.
You can have your contracts if it is to your liking. If it's not then we proceed to another phase which is really the filing of cases," he pointed out.
Before his latest pronouncements, Duterte appeared to have buried the hatchet with the two firms last April after he said sorry for his attacks late last year over water shortages in Metro Manila. At the time, the president said sorry for the "hurtful words" he threw against the companies for asking compensation over water rate hikes that an international arbitration ruled should have pushed through years ago, but didn't.
Duterte refused to pay up the companies, and instead unilaterally cancelled the extension of their contracts granted before his term in 2008. As a result, from original contracts running until 2037,
62% to end trading at P12.54 apiece to cap the week on Friday. Maynilad's owner
also ended up 2.11% at P3.38 each.
© Pakistan Press International, source