MPIC expects to resolve toll hike issue within Sept 2018
Zinnia Dela Peña (The Philippine Star) - September 12, 2018 - 12:00am

MANILA, Philippines — Metro Pacific Investments Corp. expects to reach a compromise on its dispute with the government over the long-delayed  rate adjustments in its toll roads within the month.

“We hope to resolve everything within the month so we can all move forward,” said MPIC president Jose Ma. Lim.

Lim said they agreed to implement the toll increase on a staggered basis to cushion the impact on motorists.

The government has not acted on the company’s petitions for toll hike in 2013, 2015 and this year, which have already cost the Metro Pacific Tollways Corp. more than P8 billion in foregone revenues.

MPTC’s concession allows for toll adjustments every two years.

The company needs around P122.7 billion to build new highways and tollways across the country over the next five years.  These include the P62.43-billion NLEX-Cavitex Port Expressway Link and P60-billion C5 South Link Expressway.

NLEX president Rodrigo Franco said the toll adjustment was of “extreme urgency” as the company would continue to suffer significant losses which could hamper its ability to finance its toll road projects.

METRO PACIFIC INVESTMENTS CORP. METRO PACIFIC TOLLWAYS CORP.
Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with