Home Business News Gov't sets sights on onerous deals with private entities

Gov’t sets sights on onerous deals with private entities

By Joann Villanueva
MANILA — The government is focusing on contracts that may have onerous provisions, Finance Secretary Carlos Dominguez III said on Monday. 
“In fact, we have one that we found,” he said in a media interview. 
Dominguez said this particular contract is in real estate.
“Something that has been more than 40 years old,” he said but declined to give additional details.
The government has trained its eyes on several contracts between state agencies with the private sector to ensure that these are not to the disadvantage of the public.
Among these contracts is one with water concessionaires Manila Water and Maynilad.
Last Friday, President Rodrigo R. Duterte called for the review of the contract between the Light Rail Transit Authority (LRTA) and Light Rail Manila Corporation (LRMC), which is the consortium of Ayala-led AC Infrastructure Holdings Corp., Pangilinan-led Metro Pacific Investment Corporation (MPIC), and Macquarie Infrastructure Holdings (Philippines) Pte. Ltd.
The President, in a speech in Davao City, said Ayala and Pangilinan are getting a lot of contracts with the government. (PNA)

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