Manila Water, Maynilad drop claim
At risk of losing their concession deals, both Manila Water Company, Inc. and Maynilad Water Services, Inc. have realized that it’s far more risky to be on the bad side of President Duterte than letting go of a few extra billions that the Philippine government supposedly owes them for winning their respective arbitration cases.
Jose Almendras, Manila Water president and chief executive officer, said the Ayala-led company will no longer collect P7.39 billion from the government as a compensation for the losses it incurred from June 1, 2015 until November 22, 2019 for failing to increase water rates during this period.
However, less than a week since this was announced, Duterte said he will jail the executives of Manila Water and Maynilad for economic sabotage, which was followed by a series of rant fest against the two companies.
It is also for this reason Maynilad won a P3.4-billion arbitration case against the government in 2018, Guevarra said.
“We agree with the President. We will no longer go after the award,” Fernandez said.
“We will no longer implement the approved water rate increase scheduled to start in January 2020,” Almendras said.
“It would be an upward adjustment if approved,” Ty earlier said.
If companies are seeking for an upward FCDA, it means higher water rates for their customers for the next three months.Read more: Manila Bulletin News
Yeeey thats good news to the Filipino people...
Water regulator revokes extension of Maynilad, Manila Water concession dealsAgain, regardless which party one supports, one can only commend Pres. Duterte for having the balls and effectively saying 'Fuck You' to former presidents for allowing this ghastly, blatantly LOPSIDED deal!
Duterte wants to 'renegotiate' parts of Manila Water, Maynilad deals: DOJ
Manila Water, Maynilad will no longer collect P11-B compensation from gov’tMANILA, Philippines — Manila Water Company, Inc. and Maynilad Water Services, Inc. on Tuesday said they would no longer collect the almost P11 billion indemnification, which the Singapore-based PathRoxasINQ Somebody up there has easily pocketed that 11billion. MW and Maynilad agreed to keep their mouths shut. PathRoxasINQ Kasalanan nanaman to ni Duterte. Business kayo tapos ayaw niyo sa Bilyon? Hmm. Parang may mali.
Duterte threatens Manila Water, Maynilad with expropriationPresident Rodrigo Duterte threatens to 'take everything' from the two firms if he is not satisfied with how they explain 'onerous' provisions in their concession agreements He heyyts oligarchs, except... Shout out na yata for election funding Kupal na presidente gawa wag puro ngawa dami munang binitiwang salita ni isa walang natupad kupal ka🐊🐊🐊🐊🐊
Maynilad, Manila Water will no longer demand payment from gov'tMaynilad and Manila Water say they will no longer implement arbitration rulings which compel the government to pay them billions of pesos. A ok. Ang galing ni Calida ano? something really dark here. that was easy. they will fined for violating clean air act leading to bankruptcy. Arbitration is useless ganun ba? Sana matanggal Pilipinas sa UNCITRAL for not honoring its obligation. Pero, ang tanong bakit nagconcede sila, mas malalim pa ba ang baho na tinatago nila?
Manila Water drops P7.4 billion compensation claim11Billion pesos na halaga ng malutong na putang ina mula kay PRRD. 😜😜😜 thankyouprrd That's old news. The current one now is, they are the one being pursue for plunder, a no bail crime worth trillions. Now, that's news. Si hilbay pala ang abogago.. Kaya na hell bye... Ang tahimik tahimik ng ugok