Maynilad, Manila Water concession agreement
President Duterte says he will "deliver" the water concessionaire owners to the people and claims that the water issue "an issue of corruption."
Duterte says he will "deliver" the water concessionaire owners to the people, claims water issue "an issue of corruption." @PhilippineStar @PhilstarNews
— Alexis B. Romero (@alexisbromero) December 30, 2019
Maynilad and Manila Water admit they just received an hour ago the decision of MWSS to revoke the extension of the concession agreement.
Maynilad CEO Mon Fernandez says prices "will definitely go very high because the rationale of the extension at that time is to mitigate spikes in tariffs because the concessionaires had to invest more."
"It is with very grave concern that we view this action. It is not proper to unilaterally revoke an agreement," he adds on Wednesday at the continuation of the House Committee on Good Government and Public Accountability hearing into the water concessionaires' contracts.
The Metropolitan Waterworks and Sewerage System has confirmed that the board revoked the resolution adopted in 2008 which extended the concession agreement until 2037.
MWSS says that if contracts are canceled by 2022, new operators may come in. As to whether prices will increase, however, MWSS says it is not clear.
— with The STAR/Maureen Simeon
Updates on the revocation of the extension of Maynilad and Manila Water's concession agreement.
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