SLTC operating illegally? C.R.O.S.S.R.O.A.D.S Jonathan De la Cruz 07/25/2010

SLTC operating illegally?

C.R.O.S.S.R.O.A.D.S Jonathan De la Cruz 07/25/2010 After getting flak for attempting to jump the gun on the thousands of motorists and biyaheros using the South Luzon Expressway (Slex) daily with that whooping 250 percent toll fee increase just days before P-Noy’s inauguration, the RP-Malaysian tollroad operator — South Luzon Tollways Corp. (SLTC) — is in for another round of excoriation. And this time it may be fatal as it involves the very franchise upon which the whole operating agreement is based. Records show that the operator which is owned 80 percent by Malaysian company, MTD Capital, and 20 percent by the Philippine National Construction Corp. (PNCC) used the latter’s franchise to legitimatize its takeover of the operation and maintenance of the 27 km Alabang-Calamba portion of the expressway. Apparently, PNCC posited it will be able to renew its franchise for another 50 years thus when the partnership agreement was signed and approved by the Toll Regulatory Board (TRB) toward the end of 2007 all the parties thought everything will be fine and dandy. Well, PNCC’s franchise which expired last May 1, 2007 and has not been renewed since. To remedy the situation and save Malacañang from further embarassment, the PNCC Board by Art Aguilar and the TRB jointly requested the Palace to issue a 15 year administrative franchise. ... MORE Source:  The Daily Tribune URL: http://www.tribuneonline.org/commentary/20100725com5.html

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