On Tuesday, both companies threw the white flag and said they will no longer ask for the billions of compensation the international court wants the Philippine government to pay them for the latter’s refusal to implement their separate water rate hike applications a few years ago.
The Permanent Court of Arbitration in Singapore ruled last week that Manila Water has a right to indemnification for actual losses suffered by it on account of the Philippine government’s breach of its obligation. In the Philippine government’s defense, Justice Secretary Menardo Guevarra said that it’s the unfair provisions of concession agreements between water utilities and Metropolitan Waterworks and Sewerage System that caused the international court to decide in favor of Manila Water.
As for Maynilad, its chairman, Manuel V. Pangilinan, already said in April of this year that his company is “willing to drop” the arbitration case it had earlier filed against the Philippine government.“We agree with the President. We will no longer go after the award,” Fernandez said.To further appease Duterte, Maynilad and Manila Water will also no longer push for their quarterly water rate adjustment for the first three months of 2020.
Yeeey thats good news to the Filipino people...
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Duterte wants to 'renegotiate' parts of Manila Water, Maynilad deals: DOJ
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Source: rapplerdotcom - 🏆 4. / 86 Read more »
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
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