Pres. Spokesperson Panelo: Investors Need Not Worry Over Public-Private Deals’ Review

Pres. Spokesperson Panelo: Investors Need Not Worry Over Public-Private Deals’ Review

Spotlight

More Than 124k Drivers, Operators Join Transport Cooperatives

A total 124,443 drivers and franchise owners and operators have joined accredited transport cooperatives ready for franchise consolidation.

Globe Recreates The Way You Learn With Special Promos

Globe introduces special Go promos for students and the GoTOK series to make quality learning and self-improvement accessible for everyone online and in real life!

Roma Point Bridge Construction In Full Swing With Republic Cement Support

Expected to be the longest bridge in Calabarzon, the Roma Point Bridge, also known as the Alabat Bridge, will be 1.7 kilometers long upon completion and will connect Alabat Island to mainland Quezon province.

Specialty Pulp Manufacturing Inc. Chooses 100% Clean Energy From EDC

Agriculture-based manufacturing company SPMI is now being powered by clean, renewable, reliable energy from EDC!

There was no need for investors in the country to be “afraid” of President Rodrigo Duterte’s directive to conduct a review of the existing public service contracts with private companies, Malacañang said on Thursday.

In an interview with Palace reporters, Presidential Spokesperson Salvador Panelo reiterated that the review of present deals between the government and private firms are advantageous to Filipinos.

“Any pronouncement that says the government will examine, evaluate or review onerous contracts is not something that businessmen should be afraid of. Because it is the duty of the government precisely to protect the interest of the Filipino people,” he said.

“There is nothing to worry on the part of the businessmen, whether foreign or locals, because the government will not be reckless to step into any contract that is not contrary to law,” he added.

Duterte was prompted to order the thorough scrutiny of numerous existing government contracts with the private sector following the discovery of the government’s supposedly “onerous” water deal with Manila Water and Maynilad.

Earlier Thursday, the National Economic and Development Authority (NEDA) said the review of the government’s existing deals with private companies should be a “delicate balancing act.”

The NEDA made the remarks as it said the government’s latest move has raised worry from the business sector and some credit rating agencies.

Panelo ensured that “everything is being considered.”

He also guaranteed that Duterte would respect the “sanctity” of the contracts, except if these apparently violate the law and disregard public interest and public policy.

“Let me allay the fears of foreign investors, as well as Filipino businessmen. You don’t have to worry about the review kasi (because) if there’s nothing wrong with your contracts, there’s nothing to worry about,” Panelo said.

“The President will certainly respect the sanctity of contracts, except only when from the very provisions, it appears to be contrary to law, contrary to public interest and public policy. Otherwise, ganun pa rin yan (nothing has changed),” he added.

To date, Duterte is focused on addressing the “onerous” provisions in the government’s concession agreements with Manila Water and Maynilad.

Duterte early this year said Manila Water and Maynilad can only choose between accepting the new water contracts crafted by his administration or face cancellation of their present deals.

Duterte also announced on Jan. 17 that state-run Light Rail Transit Authority’s existing contract with the Light Rail Manila Corporation (LRMC) will also be subject to review after he learned that Fernando Zobel de Ayala and Manuel V. Pangilinan also have key roles in its operations.

During the press conference, Panelo said the Chief Executive also sees the need to conduct a review of Ayala Land Inc.’s 25-year agreement with state-owned University of the Philippines for the rental of Technohub property in Diliman, Quezon City.

“Sabi niya (Duterte), kailangan talagang pag-aralan yan (He said there was really a need to review that),” the Palace official said. “Ire-review mo lang naman eh (It’s just a review). We will just make an opinion about it.”

The President’s latest pronouncement came following the recommendation of Panelo.

Panelo earlier bared that Ayala Land has been paying only PHP20 per square meter in monthly rentals to the UP.

Early this month, Duterte promised to rectify government contracts with private firms that would be found detrimental to the Filipino people. (PNA)

DSWD Completes Assessment Of 14.4M Poor Families For Listahanan 3

The Department of Social Welfare and Development says they have completed assessing the 14.4 million poor families included in the initial list of the third-round of assessment of the “Listahanan 3” or the National Household Targeting System for Poverty Reduction.

‘2gether’s’ Brightwin Holds Virtual Fan Meet For Pinoys In December

ABS-CBN is giving an early holiday gift to the fans of "2gether"!

Over 20K OFWs In Kuwait Displaced Due To Pandemic

The Philippine Embassy in Kuwait estimated that over 20,000 OFWs have been displaced since the COVID-19 pandemic struck early 2020.

NoCot Beefs Up Drive Against Measles

Health authorities in North Cotabato is slated to intensify their campaign against measles following the higher number of cases recorded from January to October this year compared to the same period last year.

Mayor Treñas: Ilonggos Rejoice Over Mateo’s Miss Universe PH Victory

“The Ilonggo community is truly proud of her achievement. She is an epitome that Iloilo City can truly level-up and rise above challenges during these times.”

Roque: Gov’t Duty-Bound To Protect Even Critics From COVID-19

“Maski kayo po ay walang ginawa kung hindi labanan ang gobyerno, Pilipino pa rin po kayo at may obligasyon pa rin kaming isalba kayo kung kayo’y magkakasakit. Make it easier for everyone po, huwag pong magtipun-tipon."

Bacolod City Shares Best COVID-19 Practices With Other LGUs

Bacolod City shares its best practices in responding to the COVID-19 crisis with some LGUs in Negros Occidental and other provinces in Western Visayas.

JTF Covid Shield Braces For More Economic Activities

Will your plans for the upcoming holidays push through?

Manileños Hopeful As More Barangays Now Free Of COVID-19

Manila City residents express high hopes that the pandemic will soon be defeated in the city after 172 barangays were declared COVID-19 free.

Kabankalan City Grants P10-M Fertilizer Aid To Rice Farmers

The City of Kabankalan in Negros Occidental has granted a PHP10-million fertilizer assistance to rice farmers to ensure food security in the southern locality.