Manila Water & Maynilad would no longer pursue P10.8B compensation award from PH govt

Manila Water & Maynilad would no longer pursue P10.8B compensation award from PH govt




Call it coincidence or not, it would not have happened if the President did not call them out.

Manila Water and Maynilad said that they would no longer ask the Philippine government to pay a total of P10.8 billion in compensation awarded them by a Singapore-based arbitration court.


The Singapore-based Permanent Court of Arbitration (PCA) earlier ordered the Philippine government to pay P3.4 billion to Maynilad and P7.4 billion to Manila Water as compensation for losses the water concessionaires incurred due to denied rate increases.

(photo credit to owner)


Both water concessionaires also told a Congressional hearing that they were ready to work with the government on possible revisions to their concession agreements. 
"Tumutugon kami sa utos ng Pangulong Rodrigo Roa Duterte na muling pag-aralan at pag-usapan ang ilang mga probisyon ng concession agreement," said Manila Water president Jose Rene Almendras.
(We are responding to the order of President Rodrigo Roa Duterte to revisit and discuss some provisions in the concession agreement.) 

Manila Water president Jose Rene Almendras, was asked if they are willing to drop the P7.4 billion which  was awarded to them by the PCA, to which he replied: "Opo sir, susunod po kami sa kagustuhan ng gobyerno, ng pamahalaan at gobyerno (Yes we will follow the government)." 
As for his counterpart in CEO and President of Maynilad, it also said that it would no longer pursue the P3.4 billion award. 
"Ang arbitral award 2017 pa po. After we followed up the government, nung di kami binibigyan ng pansin, di na kami nagpurisge," Fernandez said. 
(The arbitral award was given in 2017. After we followed up the government, when we were ignored, we no longer pursued it.)

Maynilad would also follow the President’s directive and would no longer pursue the arbitral award.
Both firms also said they would no longer implement the scheduled water hike scheduled in January 2020.





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Report from ABS-CBN News

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