Palace non-committal on Piatco settlement bid
By Aytch S. de la Cruz 02/01/2011The Palace issued a deadpan comment on the proposal of the Philippine International Air Terminals Co. Inc. (Piatco) consortium which built the expropriated Terminal 3 of the Ninoy Aquino International Airport (NAIA) for a 90-10 sharing agreement with the government under a joint venture to settle a lingering dispute, saying Piatco has yet to submit a formal offer.
Piatco proposed a Joint Venture Agreement-Gross Revenue Sharing proposal to allow the government to operate NAIA-3 without any legal obstacles with 90 percent of revenues going to the consortium as its primary contractor and 10 percent for the government.
Although the government has been made aware of this plan, Presidential Communications Development and Strategic Planning Secretary Ricky Carandang said the Palace cannot yet comment on it because it has yet to receive Piatco’s formal proposal.
Carandang, in a phone interview, said he was told by Transportation and Communications Secretary Jose de Jesus that the government that he has not received a copy of the proposal that details what Piatco has to offer..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/headlines/20110201hed3.html
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